Which bank should I choose?
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I am currently earning ₹90,000 per month, and after the increment that I will get in January, my monthly income will be ₹1,20,000. I need a personal loan to buy a plot in Pune where I am currently working. I am looking for a personal loan of about 25 lakhs, which I want to pay off in 4 years. Which bank should I go with: HDFC Bank (interest rate is 10.85% + processing fees) ,ICICI Bank (10.85% interest rate + processing fee up to 2%), or is there a better option?
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Both banks provide the same interest rate and offer nearly identical services. Both banks approve loans within hours for pre-approved customers who meet certain eligibility criteria.
The processing fees primarily depend on the desired loan amount. HDFC processing fee ranges from ₹1,000 to ₹6,500 + GST.
And the processing fees at ICICI Bank are 2% of your loan amount.So compare processing fees and choose the best one.