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Updated by aggarwalshipra87 on May 26, 2019
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Top 10 Cheapest loans available in India

Here is the list of top 10 cheapest loan available in India where you can go and easily get fund in an emergency. Also with a low-interest rate, the benefit is the bank charge less rate of interest and you have a less monthly load of money on your shoulders.This may help you in emergency.Please vote for the list so that I can come up with some more saving tips and tricks.

1

IndusInd Bank

IndusInd Bank

Induslnd Bank provides you with the cheapest personal loan rate of interest which starts with 10.50% and the processing fee is up to 2.50% of the loan amount. You can easily get the loan amount approved from the bank by online or offline mode. Through online mode, you can easily apply to KREDIT and place a request for your loan application.

2

Yes Bank

Yes Bank

Yes Bank is number two in the list to provide you the personal loan with cheap interest rate. It starts with 10.75% onwards and the processing fee here to be paid by you is Up to 2.50% of the Loan Amount. You can avail loan here from 10 to 25 lacs .

3

HSBC Bank

HSBC Bank

HSBC banks interest rate on personal loan starts with 10.99% and also the processing fee is 1% of the loan amount. The maximum loan you can get here is up to 15 lacs and to very certified and old members it gives the loan up to 30 lacs. You can repay the loan from 12 months - 60 months and the repayment charges they take is upto 3.75% on the principal amount outstanding.

4

Citi Bank

Citi Bank

Citibank is also one of the most renowned and oldest banks it provides you loan from 10.99% onwards and also the processing fee it charges starts from 0.25% onwards. The maximum loan amount you can get from here is up to 30 lacs.

5

Axis Bank

Axis Bank

Axis Bank offers you loan from 50,000 to 15,00,000 with charging the interest rate from 11.25% onwards and the processing fee ranges from 1.50% to 2% of the loan amount. The minimum age required to apply in this bank is 21 years and maximum age required for this is a maximum of 60 years.

6

HDFC Bank

HDFC Bank

HDFC Bank is one of the largest loan processing bank in India. Its rate of interest starts with 11.25% on the loan amount and the processing fee it is charging is around Up to 2.50% of the Loan Amount and also they provide several introductory offers to the first time borrowers.

7

ICICI Bank

ICICI Bank

Like all other banks, the loan provided by ICICI bank is also for multipurpose use, you can avail it for any emergency. This loan starts its rate of interest from 11.25% onwards and the processing fee goes up to 2.25% of the loan amount. The maximum amount you can get here for is up to 20 lacs.

8

TATA Capital

TATA Capital

TATA Capital is one of the most renowned NBFC its loan starts from Rs. 75,000 and goes till 30,00,000. The loan tenure you are having is between 60 - 84 months. The rate of interest charged here is 11.25% onwards and the processing fee depends upon the loan amount.

9

Kotak Mahindra Bank

Kotak Mahindra Bank

Kotak Mahindra Bank provides you the loan with a rate of interest from 11.29% onwards with the processing fee up to 2.5% of the loan amount. The provides you the loan from 50000 to 30 lacs and the prepayment charges are up to 5 % of principal outstanding.

10

State Bank of India (SBI)

State Bank of India (SBI)

SBI is the largest and the oldest Bank in India and if this is not there in the list then the list is not complete. The interest rate of SBI starts with 11.30% onwards and the processing fee which they charge is 1% of the Loan Amount. The maximum loan you can from here starts with 25000 and goes up to 15.00 lacs or 24 times of your Net Monthly Income.its repayment can be done maximum up to to 60 months.