Interest Rate

10.25% - 12.25% *

Processing Fee

Upto 1% of loan amount *

Tenure

12 months- 84 months *

Interest Rate

8.35%-10.10% *

Processing Fee

0.50% - 1.50% including taxes *

Tenure

1 year to 30 years *

Interest Rate

10.99%-24% *

Processing Fee

Upto 2% of loan amount (excluding taxes) *

Tenure

12 months- 60 months *

Interest Rate

10.65%-15.05% *

Processing Fee

Upto 1% of loan amount *

Tenure

12 months- 60 months *

Interest Rate

15%-20.99% (Fixed Interest rate) *

Processing Fee

Upto 2.5% of loan amount *

Tenure

12 months- 60 months *

Interest Rate

10.99-20% *

Processing Fee

Upto 2.25% of total amount *

Tenure

12 months-60 months *

Interest Rate

10.99%-19% *

Processing Fee

Minimum Rs. 999, Maximum 2% of amount *

Tenure

12 months- 72 months *

Interest Rate

14% onwards *

Processing Fee

Upto 2% of loan amount *

Tenure

12 months -48 months *

Interest Rate

13%-16% *

Processing Fee

Upto 6.50% of total loan amount *

Tenure

12-48 months *

Interest Rate

18% onwards *

Processing Fee

Upto 2% of loan amount *

Tenure

Upto 60 months *

What is loan?

A loan is when someone the borrows amount from financial institution or friends with the assurance of returning it back with the interest amount (interest is the charge on receiving the loan). Lenders take interest amounts because they feared that you may not be in a position to repay the borrowed amount, so they have to protect the losses by charging an amount in the form of interest. If a customer has to pay back in EMI then it is an instalment loan. If a customer has to pay back the amount before the loan’s maturity (expiration) date, it is a time loan.

Types of loan:-

Secured loan and Unsecured Loans:-

A Secured loan is the type of the loan in which lenders take some assets for security purpose. The interest rate on the borrowed amount can be lower than the unsecured loan. Before borrowing a secured loan the asset needs to be inspected to confirm its value, then the lender allows you to borrow up to the value of the asset.

In unsecured loans, there is no requirement of any type of assets for security purposes. These loans are difficult to have and have a higher interest rate in comparison to secured loans. Applying for this type of loan you should have a good credit history and a good income because the unsecured loan depends on your credit history and income.

  • Personal Loan:- An instant personal loan is when someone borrows a fixed amount of money for a personal purpose like marriage, medical treatment, etc. personal loan can be secured or unsecured. Personal loan is also known as a consumer loan.

Document required for Personal loan:-

  • Identity proof:- Anyone from voter id card/ PAN card/ Aadhar card/ Passport/ driving license.
  • Residence proof:- Anyone from Aadhar card/ Passport/Rent Agreement/Telephone Bill/Electricity Bill.
  • If salaried:- Last 3 months Bank Statement.
  • If self-employee:- audited financials for the last two years, Last 6 months Bank statement, Proof of office ownership and Office address proof. 2 Passport Size photographs.

Best bank for Personal Loan:-

  • State Bank of India Personal Loan.
  • HDFC Bank Personal Loan.
  • Axis Bank Personal Loan.
  • Bajaj Finserv Personal Loan.
  • Bank of Baroda Personal Loan.
  • Standard Chartered Bank Personal Loan.
  • Citi Bank Personal Loan.
  • ICICI Bank Personal Loan

Banks with the low-interest rate for Personal Loan:-

                    Banks  Interest rate
Citibank 10.99%
ICICI Bank Personal Loan 11.25%
Axis Bank 11.25%
HDFC Bank Personal Loan 11.25%
Bajaj Finserv 11.99%

Instant Personal Loan:- The instant personal loan is the same as a personal loan but the only difference is that you will get approved instantly for a loan in 1 to 3 hours. This is also called as instant cash loans.

Document required for Instant Personal loan:-

1) Identity proof:-  Anyone from voter id card/ PAN card/ Aadhar card/ Passport/ driving license.

2) Residence proof:- Anyone from Aadhar card/ Passport/Rent Agreement/Telephone Bill/Electricity Bill.

3) If salaried:- Last 3 months Bank Statement.

4) If self-employee:- Audited financials for the last two years, Last 6 months Bank statement, Proof of office ownership and Office address proof.

5) 2 Passport Size photographs.

Best bank for Instant personal loan

  • HDFC Bank
  • RBL Bank
  • Citibank
  • ICICI Bank

Banks with low-interest rate for Instant personal loan:-

             Banks  Interest rate
Kotak Bank  10.50%
Standard Chartered Bank 10.99%
Citibank 10.99%
IndusInd Bank 11.00%
HDFC Bank Personal Loan 11.25%
  • Education loan:- Education loan is the best option for students who want to loan for their education. In this loan you don’t have to pay back immediately you can bay back money when your education is completed and you will start work.

Document required for Education loan:-

1)Residence Proof:- Anyone from Passport/Driving License/Aadhaar Card/Voter’s ID Card.

2)Photo ID proof:- Anyone from PAN Card/Passport/Driving License/Aadhaar Card/Voter’s ID Card.

3)Academic Documents of Student:-

  • 12th board mark sheet
  • Certificates of subsequent years of education- graduation and post-graduation (if any)
  • Mark sheet of any entrance exam taken by the student (if applicable)
  • Scholarship documents (if any).

4) Proof Of Admission (If available)

5)  2 Passport size Photographs.

Best bank for Education loan

  • State Bank of India
  • Axis Bank
  • HDFC Bank
  • Punjab National Bank
  • Canara Bank
  • IDBI Bank
  • Bank of Baroda

Banks with low interest rate for Education loan:-

         Banks Interest rate
PNB 8.45%
SBI 8.85%
Bank of India 9.85%
Canara Bank 9.95%
Central Bank of India 10.10%
  • Home loan:- When a loan is taken to build or buy a home, it is called a home loan. There are many types of home loans like Home Purchase Loan, Home Improvement Loan, Home Construction Loan, etc. Usually, home loans tenure ranges 25 years to 30 years if you want to take short term loan then you can take a bridge loan. However, banks usually charge a higher interest rate on the bridge loan.

Document required for Home loan:-

1) Identity proof:-  Anyone from voter id card/ PAN card/ Aadhar card/ Passport/ driving license.

2) Residence proof:- Anyone from Aadhar card/ Passport/Rent Agreement/Telephone Bill/Electricity Bill.

3) Age Proof:- Anyone from Aadhaar Card/PAN Card/Passport/Birth Certificate/10th Class Marksheet.

4) If salaried:- Last 3 months Bank Statement.

5) If self-employee:- Audited financials for the last two years, Last  6 months Bank statement, Proof of office ownership and Office address proof.

6) Property document:-

  • Registered Sale Deed, Allotment Letter or Stamped Agreement of Sale with the Builder.
  • You may have to furnish a no-objection certificate from the society.
  • Payment receipt or bank account statements showing payments made to the Builder or Seller.
  • Two passport size photographs.

Best bank for Home loan

  • State Bank of India (SBI)
  • ICICI Bank.
  • HDFC Bank/HDFC Ltd.
  • Axis Bank.
  • Indiabulls Home Finance.
  • LIC Housing Finance.
  • PNB Housing Finance Ltd

Banks with the low-interest rate for Home loan:-

                  Banks Interest rate
SBI 8.40%
HDFC Bank 8.55%
ICICI Bank 8.70%
Axis Bank 8.90%
LIC Housing Finance 8.40%
  • Car loans:- When someone takes a loan for buying a car is called a car loan after some time you have to pay back the borrowed amount with interest.

Document required for a Car loan:-

1) Identity proof:-  Anyone from voter id card/ PAN card/ Aadhar card/ Passport/ driving license.

2) Residence proof:- Anyone from Aadhar card/ Passport/Rent Agreement/Telephone Bill/Electricity Bill.

3) Age Proof:-  Anyone from Birth certificate/ 10th  mark sheet/Aadhaar card.

4) If salaried:- Last 3 to 6 months Bank Statement.

5) If self-employee:- Audited financials for the last two years, Last  6 months Bank statement, Proof of office ownership and Office address proof.

6) Signature Verification Proof

7) Two passport size photographs.

Best bank for  a Car loan

  • PNB
  • Axis Bank
  • HDFC Bank
  • ICICI Bank
  • State Bank of India (SBI)
  • BOI
  • UBI
  • Indusind Bank
  • Canara bank

Banks with the low-interest rate for Car loans:-

            Banks Interest rate
ICICI Bank Car Loan 8.89%
State Bank of India 9.15% to 9.85%
HDFC Bank Car Loan 9.25%
Axis Bank 9.25%
IndusInd Bank 10.65%
  • Twowheeler loan:– Two-wheeler loan is the type of loan in which customers take a loan for purchasing two-wheeler like a bike. In this type of loan, you can pay back the borrowed amount in EMI.

Document required for Twowheeler loan:-

1) Identity proof:-  Anyone from voter id card/ PAN card/ Aadhar card/ Passport/ driving license.

2) Residence proof:- Anyone from Aadhar card/ Passport/Rent Agreement/Telephone Bill/Electricity Bill.

3) Age Proof:-  Anyone from Birth certificate/ 10th  mark sheet/Aadhaar card.

4) If salaried:- Last 3 to 6 months Bank Statement.

5) If self-employee:- Audited financials for the last two years, Last  6 months Bank statement, Proof of office ownership and Office address proof.

6) Signature Verification Proof

7) Two passport size photographs.

Best bank for Two-wheeler loan

  • Andhra Bank
  • Bank of India
  • Union Bank of India
  • United Bank of India

Banks with the low-interest rate for Two-wheeler loan:-

               Banks  Interest rate
Bank of India 9.55%
Punjab National Bank 10.20%
HDFC Bank 11.42%
Union Bank of India 11.60%
State Bank of India (SBI) 11.95%
  • Business loan:– When someone takes loan for business purposes like for the development of the business or starting a new business then it is a business loan. After some period of time business owner have to pay back the borrowed amount with interest charges.

Document required for Business loan:-

1) Identity proof:-  Anyone from voter id card/ PAN card/ Aadhar card/ Passport/ driving license.

2) Residence proof:- Anyone from Aadhar card/ Passport/Rent Agreement/Telephone Bill/Electricity Bill.

3) Last 12 months Bank statement, Proof of office ownership and Office address proof.

4) Two passport size photograph.

Best bank for Business loan

  • HDFC Business Loan
  • IndusInd Bank Business Loan
  • ICICI Bank Business Loan
  • Axis Bank Business Loan

Banks with low interest rate for Business loan:-

         Banks Interest rate
SBI Bank 11.20%
ICICI Bank 12.90%
Standard Chartered 13.50%
HDFC Bank 15.50%
Axis Bank 15.50%
  • Gold loan:– The gold loan is the secured loan in which customer pledge their gold with lenders, in return the lenders give you the loan which is the market value of the gold.

        Document required for Gold loan:-

1) Identity proof:-  Anyone from voter id card/ PAN card/ Aadhar card/ Passport/ driving license.

2) Residence proof:- Anyone from Aadhar card/ Passport/Rent Agreement/Telephone Bill/Electricity Bill.

3) Two passport size photographs.

Best bank for Gold loan

  • SBI Gold Loan
  • Muthoot finance
  • Manappuram
  • HDFC Bank
  • PNB bank

Banks with low interest rate for Gold loan:-

           Banks Interest rate
ICICI Bank 10.00%
PNB 10.05%
Axis Bank 10.49%
HDFC Bank 10.50%
SBI Gold Loan 10.55%

Features of loan:-

  • The loan is a short-term source of finance.
  • A loan can be secured or unsecured.
  • The interest charged by the bank on a loan can be fixed or variable.

How to apply for a loan:- There is two way to apply for a loan.

Offline:-

  • First of all, decide how much money you need.
  • Find the right type of loan on bankagent.in .
  • Decide the right bank by comparing loan interest rates and offers and choose the best loan offers at bankagent.in .
  • Go to the bank by which you want to take a loan.
  • Fill the online loan application with all the information which is required in the form.
  • Submit all your documents which are required.
  • After all this process you will get approved for the loan.

Online:-

1) Decide how much money you need.

2) Find the right type of loan on www.bankagent.in.

3) Decide the right bank by comparing on www.bankagent.in

4) Fill in your personal, financial, and employment details.

5) Select the loan amount and tenor that you require.

6) Submit the required documents with our representative, who will get in touch with you.

7) After verification of your document bank will deposit a loan amount in your bank account.

Note:-  you can also go on bank official site to apply for a loan.

Advantages of loan:

  • The best advantage of the loan is that loan Very low and fixed interest rates.
  • It helps you to build business credit.
  • The loan is flexible because the bank loan allows you to repay as per convenience as long as the instalments are regular and timely.

Disadvantages of loan:-

  • The worst disadvantage of loans is that loans have very lengthy paperwork but some banks offer you online apply.
  • Usually, for taking a loan bank ask for collateral.
  • For taking a loan you should have a good credit score.

What is the impact of CIBIL score on loan:- CIBIL Score is the first criteria that financial lenders check before approving the Loan Application, Your CIBIL Score, tells you can repay the EMIs on time or not. Different financial lenders have different eligibility criteria which they keep in mind while reviewing the Loan Application If you have a negative CIBIL Score then it does not mean that you cannot avail a loan, some lenders may approve you for loan. In case you have a bad credit score than to get a loan you can go for a collateral loan. If you have a low credit score and you cannot afford a secured loan too, then you can find a guarantor who has a good credit score and by keeping them as a guarantor you can avail a guaranteed loan. There are many NBFC who can approve you for the loan with credit score, however, NBFC charges a higher interest rate in comparison to banks.