Best bank for personal loan

Deal Newbie
Which bank will be best for taking personal loan above 3 lakh india as nominal interest rate

I recently applied for standard chartered but they need 50000 salary and Icici need 40000 salary

But my salary is 34000
I receive salary in a pnb saving account and i don't think they will provide loan easily and I do not fill itr also so can't go with sbi as well
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Deal Lieutenant Deal Lieutenant
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Check in SBI YONO PAPL Available for you or not. No processing fees for PAPL. Around 13.5% annual interest rate. 36 months maximum duration.

Otherwise simply apply for SBI credit card with highest limit possible, withdraw money from credit card and convert into EMI.

Deal Newbie Deal Newbie
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I don't have account in SBI so obviously I can't chech there too.

I had a PAPl from kotak but for 1.35 lakh only that is at 23 percent fixed interest and their customer care was not able to answer if I can skip PAPL and take loan using salary slip

Now I don't want to try each bank manually and take a hit on my cibil so asking here

Analyst Analyst
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While taking Personal Loan, Make sure you opt for reducing interest rate. It does make a lot of difference on the end interest amount as compared to normal one.

The PostMighty The PostMighty
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If you have any FD in any Bank, you can take loan against that at very lower interest rate

Visit branch and talk to them

Deal Newbie Deal Newbie
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If you have mutual funds, you can take loan against mutual fund. Try Volt.. They do it right away, without any hassle with interest rate of 9.5.

If you don't have any savings and still want a loan of 3 lakhs then go with cred mint, groww. They can provide loan at 12%. 

Deal Newbie Deal Newbie
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Got it with yes Bank 4.9 lakh @ 15.99 on reducing basis.

Axis told me they will charge 23% according to my company category in their database regardless of amount

Cred and groww was not showing any loan options to me

Deal Newbie Deal Newbie
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So there was my conclusion with 34000 salary in private unlisted company

Yes Bank - best interest with low salary

SC - salary above 50000 or 30000 if you have their cc, can provide best interest rate

ICICI - 40000 salary

Axis - High interest rate

Sbi  - Low interest and high amount also but needs ITR

Kotak - call and check if they can provide you even if you meet criteria they may not provide you (their executive told me I receive salary using neft so they will not provide, also system was not taking salary slips due to pre approved offer)

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