Personal Loan Interest Rates
Bank
Interest Rate
Processing Fee
SBI Personal Loan
12.50%
In the range of 2% to 3%
HDFC Bank Personal Loan
11.25%
Min 0.99%, Max 2.50% Up to Rs. 10,000
ICICI Bank Personal Loan
11.25%
Starting from 0.99%, Up to 2.25%
Bajaj Finserv
11.99%
Starting from 1.50%, Up to 3%
PNB
12.00%
1.8% + taxes
Personal Loan EMI Calculator
first emi goes to mostly interest 70% 30% principal (loan foreclosure)
1.6pm =19.2
1.68 pm=22.2%
2 rupees pm=24%
lending company
SBI (reduced)
Bajaj finserv (flat)
loan amount
40k (zeo processing fee / 1% up 2 lakh)
35k (31k after 3%gst,pApolicy)
emi
2467
2049
tenure
18
24
rate
13.5% (reduced)
20.22% (flat/fixed)
interest paid
2470*18=44460 -40k (4460)18m
2049*24=49176-35000 =14176 24m
fixed rate loans
foreclosure
part payment no benefit,
because interest calculated @20.22/YR FOR 1/2/3 Years then emi calculated.
where areas reduced rate emi calculated monthly basis.
interest amount goes down while prical decreases