A huge offer on personal loan has been taken by the country’s largest bank, State Bank of India i.e. SBI. Under this offer, many benefits are being given by the bank including discount in interest rate and zero processing fee. In such a situation, if you are planning to take a personal loan, then this can be a good opportunity for you.
Interest rate discount on SBI personal loan
A video has been posted by SBI regarding the offer on personal loan, in which information about it is given. If a person takes a personal loan from SBI, he will be given a discount of 0.50 percent on interest rates. Along with this, personal loan will be given at zero processing fee. That is, after applying for the loan, you will have to pay the installment directly. Apart from this, no guarantor will be required to take a personal loan. Apart from this there are no hidden charges.
Interest rate on personal loan in SBI
The interest rates on personal loans offered by SBI range from 11.05 percent to 14.05 percent. However, the interest rate depends on your eligibility, the higher your credit score. You will get the loan at the same low interest. Credit scores usually range between 300 to 900. A credit score of 300 is considered the worst, while a credit score of 900 is considered the best. In such a situation, a credit score of 750 or more is considered good for taking a personal loan at a low interest rate.
If you do not have a credit score due to lack of credit history, then you can also turn to gold loan or FD overdraft instead of personal loan. This will help you in taking loan at low interest.
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