Fixed vs Floating Interest Rates – detailed comparison: Fixed Interest Rate: Rate remains constant throughout loan tenure, EMI doesn’t change – predictable, immune to market rate fluctuations, interest: typically 0.5-2% higher than floating initially, suitable for: risk-averse borrowers, falling rate…

Interest rate comparison – Banks vs NBFCs: Public Sector Banks: Range: 9.75-16% p.a., average for good credit: 11-14% p.a., pros: lowest rates, government backing, trust factor, cons: slower processing, strict eligibility, documentation heavy. Private Banks: Range: 10-22% p.a., average: 12-16%…

Lowest personal loan interest rates in India (2024-25): Absolute Lowest Rates: Indian Bank: 9.75% p.a. onwards (for salaried), SBI: 10.30% p.a. onwards, PNB: 10.40% p.a. onwards, ICICI Bank: 10.45% p.a. onwards, HDFC Bank: 10.50% p.a. onwards. Who gets these lowest…

Personal loan interest rates in India (2024-25) – comprehensive overview: Public Sector Banks: SBI: 10.30-15.05% p.a., Bank of Baroda: 10.85-15.85% p.a., PNB: 10.40-15.90% p.a., Canara Bank: 10.80-15.30% p.a., Indian Bank: 9.75-15.00% p.a. (lowest for salaried). Private Banks: HDFC Bank: 10.50-24.00%…

Top-up personal loans in India – overview: What is top-up loan: Additional loan amount on your existing personal loan, sanctioned by same lender at similar or better interest rates, doesn’t require separate application like new loan, added to existing loan…

Ideal EMI to income ratio for personal financial health: Financial Experts’ Recommendation: Maximum 40% of net take-home salary for all debt obligations (home loan + car loan + personal loan + credit cards). Personal loan EMI specifically: Ideally 15-20% of…