| Consumer Loan | |
|---|---|
| Interest Rate | 11.75% onwards for salaried employees of State and Central Government, and 12.50% onwards for others |
| Loan Amount | Up to Rs.75,000, subject to 12 times net monthly income |
| Processing Fees | Nil |
| Tenure | 60 months |
Additionally, how do I calculate interest?
You can calculate simple interest in a savings account by multiplying the account balance by the interest rate by the time period the money is in the account. Here’s the simple interest formula: Interest = P x R x N. P = Principal amount (the beginning balance).
Secondly, how much loan can I get on 50000 salary?
However, if you are deliberating on the loan amount with how much loan I can get on a 60,000 salary, the approved amount should be close to Rs. 16.20 lakhs.
| Salary | Expected Personal Loan Amount |
|---|---|
| Rs. 40,000 | Rs. 10.80 lakhs |
| Rs. 50,000 | Rs. 13.50 lakhs |
| Rs. 60,000 | Rs. 16.20 lakhs |
How much loan can I get on my salary of 15000?
A: A salary of Rs. 15,000 generally falls in the category of a low-income borrower group. So, an instant personal loan app with a maximum approval amount of 1.5 Lakhs can be availed by the borrower with a starting salary of Rs. 15,000.
Is personal loan good or bad?
Getting a personal loan is
| Advantages | Disadvantages |
|---|---|
| No security or collateral is required as it is an unsecured loan | Requires good credit scores |
What is a PCL loan?
The Primary Care Loan (PCL) Program is a low-cost federal loan program for medical students committed to primary health care practice. The interest rate is 5% and begins to accrue following a 12-month grace period after you cease to be a full-time student. The PCL uses Federal Title VII-HRSA funds.
What is CC in JK bank?
J&K Bank today launched ‘Cash Credit Scheme‘ for the permanent employees of state and central government, semi-government undertakings and other autonomous bodies, who draw their salary from the bank.
What is EMI full form?
An equated monthly instalment (EMI) is a set monthly payment provided by a borrower to a creditor on a set day, each month. EMIs apply to both interest and principal each month, and the loan is paid off in full over some years.
What is the EMI for 3 lakhs personal loan?
Calculated Monthly EMI for 300000 of loan amount for 3 years at various rate of Interest :
| Loan Amount | Rate of Interest | Per Month EMI |
|---|---|---|
| 3 Lakh | 15.00% | Rs.10399.6 |
| 3 Lakh | 16.00% | Rs.10547.11 |
| 3 Lakh | 18.00% | Rs.10845.72 |
| 3 Lakh | 20.00% | Rs.11149.08 |
What is the interest on 1 lakh loan?
Factors Affecting Personal loan EMI
| Loan Tenure | 2 years | 3 years |
|---|---|---|
| EMI amount for loan amount ₹ 1 Lakh at 10.25% | ₹ 4,626 | ₹ 3,238 |
| Total amount you pay back to the bank including principal and interest | ₹ 1.22 Lakh | ₹ 1.35 Lakh |
| Interest you have to pay over loan tenure | ₹ 22,436 | ₹ 35,476 |
Which bank has lowest interest rate on personal loan?
Which bank is best for personal loan?
5 Best Online Personal Loans in India Dec 2021
| Bank | Interest Rate | Processing Fee |
|---|---|---|
| ICICI Bank | 10.25% | Upto 2.25% of Loan Amount |
| Kotak Bank | 10.25% | Starting from Rs.999 |
| HDFC Bank | 10.25% | Upto 2.50% Min ₹ 999 |
| Axis Bank | 10.49% | Rs.4,999 |
Which bank offers lowest interest on personal loans?
Compare Best Personal Loan in India
| Bank | Interest Rates | Lowest EMI Per Lakh |
|---|---|---|
| HDFC Bank Personal Loan ⊕ Compare | 10.25% | ₹ 2,137 |
| ICICI Bank Personal Loan ⊕ Compare | 10.25% | ₹ 2,137 |
| Bajaj Finserv Personal Loan ⊕ Compare | 12.99% | ₹ 2,275 |
| IDFC First Bank Personal Loan ⊕ Compare | 10.49% | ₹ 2,149 |
Which loan is best in JK Bank?
Compare Jammu And Kashmir Bank Home Loan Interest Rate with Top Banks
| Particulars | Jammu And Kashmir Bank | SBI |
|---|---|---|
| Interest Rate | 7.20% – 7.60% | 6.65% – 7.05% |
| Processing Fees | Upto 0.25% Min ₹ 500 Max ₹ 10,000 | NIL |
| Loan Tenure | 15 Years | 30 Years |
| Maximum Loan Amount | ₹ 5 Cr | ₹ 7 Cr |