A Personal Loan is the best saviour whenever we are into any short term cash crunches. The loan can be availed from any bank or NBFC from the comfort of home due to its online availability. However, the key to hassle-free personal loan borrowing is always to choose a lender who is offering you the loan at a comparatively lower rate. This is because the interest rate charged for your loan is the key factor that determines your total borrowing cost. Lower the interest rate lower will be your EMI and vice-versa. So, before you take a personal loan it is important to choose your lender wisely, compare the interest rates and terms applicable for part-payment and pre-closure.
Here is the personal loan interest rate for 2021 by the top-banks and NBFC’s.
So, compare yourself and choose the best bank for your personal loan. Remember even a small difference in the interest rate can bring a big difference in your finances.