If you run out of money during this difficult time of the Corona virus epidemic, you no longer need to worry. This is the news of taking a personal loan. In this difficult time if you also want to take a personal loan, many public sector banks have launched a special initiative. Punjab National Bank and Union Bank of India are offering personal loans at low interest rates.
Interest rates on personal loans start at 8.9 percent
According to the information, the interest rate on a personal loan of Rs 5 lakh for 5 years in Union Bank of India starts from 8.9 per cent. Then there are Punjab National Bank and Central Bank of India with interest rates starting at 8.95 per cent.
Avoid personal loans, the other option is cheaper
Interest rates appear to be relatively low due to the softening of interest rates in the system, but nonetheless these are higher compared to gold loans and top-ups. Interest rates on gold start at 7%. So you are advised to avoid taking personal loan. As long as you have other loan options left. Only bet if you do not have options like Loans against endowment insurance policies, Employee Provident Fund (EPF), Public Provident Fund (PPF), Stocks and Mutual Funds.
Took 6 months moratorium
If you have taken a 6-month moratorium or a personal loan due to the facility provided by the Reserve Bank of India last year, you must first take immediate steps to reduce your loan burden. If you do not do this you are likely to fall into debt soon.
No comments:
Post a Comment