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Personal Loan

Your Path to Financial Flexibility

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In comparison to other types of credit like credit cards and unofficial loans from friends, family, or dubious lenders, personal loans from NK Bank offer a quick and simple answer to all your immediate financial demands 

What Is a Personal Loan? 


A personal loan is a versatile borrowing option that allows you to meet various financial needs without providing any security or collateral. Here’s what you need to know:

  1. Purpose: You can use personal loans for anything—whether it’s home renovations, medical expenses, travel, education, or even debt consolidation. There are no limitations!
  2. Minimal Documentation:
    1. Personal loans require minimal paperwork, making the application process quick and hassle-free.
    2. Unlike secured loans (where you pledge an asset), personal loans are unsecured.

3.     Interest Rates:

    1. Interest rates vary based on factors such as your income, credit history, and the bank you choose.
    2. Shop around to find competitive rates that suit your financial situation.

    Key Features:

    Loan Amount:

      • The loan amount depends on your eligibility and income.
      • Typically, personal loans range from ₹50,000 to several lakhs.

    • Repayment T

    What Is a Personal Loan? 

    A personal loan is a versatile borrowing option that allows you to meet various financial needs without providing any security or collateral. Here’s what you need to know:

    • Purpose: You can use personal loans for anything—whether it’s home renovations, medical expenses, travel, education, or even debt consolidation. There are no limitations!
    • Minimal Documentation:
      • Personal loans require minimal paperwork, making the application process quick and hassle-free.
      • Unlike secured loans (where you pledge an asset), personal loans are unsecured.

    • 3.     Interest Rates:

      • Interest rates vary based on factors such as your income, credit history, and the bank you choose.
      • Shop around to find competitive rates that suit your financial situation.

    • Enure:

      • Enjoy flexible repayment periods, usually up to 5 years.
      • Choose a tenure that aligns with your financial goals.

    • Processing Fees:

      • Banks charge a processing fee when you apply for a personal loan.
      • Negotiate based on your relationship with the lender.
Top Banks Offering Personal Loans (Interest Rates as of September 2024) 
  1. HDFC Bank:
    • Interest Rate: 10.75% onwards
    • EMI for ₹5 lakh loan (5 years): ₹10,809 onwards
  3. Tata Capital:
    • Interest Rate: 10.99% onwards
    • EMI for ₹1 lakh loan (5 years): ₹2,174 onwards
  5. State Bank of India (SBI):
    • Interest Rate: 11.45% to 14.85%
    • EMI for ₹1 lakh loan (5 years): ₹2,197 to ₹2,371
    • Processing Fee: 1.50% (Min. ₹1,000, Max. ₹15,000)
  7. ICICI Bank:
    • Interest Rate: 10.85% onwards
    • EMI for ₹1 lakh loan (5 years): ₹2,167 onwards
  9. Bank of Baroda:
    • Interest Rate: 11.15% to 18.75%
    • EMI for ₹1 lakh loan (5 years): ₹2,182 to ₹2,580
    • Processing Fee: Up to 2% (Min. ₹1,000, Max. ₹10,000)

Remember, a personal loan is a financial tool—use it wisely to achieve your goals! If you have any specific questions or need personalized assistance, visit our nearest branch or apply online. We’re here to help!