For more to know on loans like Standard Chartered Bank Loans, hdfc personal loan visit http://www.paisawaisa.com/.
SBI loans offer affordable interest rates The State Bank of India (SBI) has been in the business for a long time now. In February this year, it came up with a bumper offer for car loan seekers. SBI loan interest rate was slashed from 11.5 per cent to 10 per cent and lenders were also freed from paying the car loan processing fee for an entire year. Personal loan interest rates at SBI are highly versatile. They let the borrower choose between a fixed interest rate and a floating one. In the former case, the interest rate on the loan remains fixed throughout the tenure. But in the case of a floating rate loan, the interest rate need not remain constant. It could decline or rise, depending upon the changes that the Bank's Medium Term Lending Rate (SBMTLR) goes through.
A striking feature of SBI that makes it stand out among several others is the fact that the interest is levied based on the daily/monthly reducing balance. While others use the annual reducing balance method, SBI offers an advantage to the customer. He does not have to pay interest on the amounts he keeps repaying. The interest is computed only on the loan amount that is presently outstanding. Since, this figure goes down with every EMI, the effective rate of interest is considerably reduced.
Getting the ICICI Advantage
ICICI Bank is one of the top most approached banks, easily India's second largest lender. ICICI bank loan interest rates have also been significantly lowered keeping in mind the need of the hour. A 50 basis point reduction in the benchmark lending rates is evident from the fall to 15.75 per cent. The floating reference rate, which applies to floating rate retail loans, has dropped to 12.75 per cent. Though the bank owes the reduction to a decrease in the cost of funds, the borrower's convenience has enhanced manifold.
Loans are now available from ICICI bank at an increased comfort level. This includes personal loans of all types, including for home, car, education or any other. There are also plans that offer a fixed rate of interest for a period of the loan tenure and then switch to the floating rate. Similarly, ICICI bank loan interest rates for cars are not ruled by a uniform, absurd guideline. They vary according to the car model and the tenure of the loan, which is also dependent on the customer and his location.
Sky rocketing interest rates are no longer the obstacle they used to be. There are people who shy away from a loan even when they have the urgent requirement of one, only because they fear the impossible rate of interest. Gone are the days when wicked money lenders in villages would amass land and wealth by trickery and exorbitance. With reliable and helpful banks like ICICI, SBI and many more, getting a personal loan at a reasonable rate of interest is simple for one and all.
.
- Related Videos
- Related Articles
- Ask / Related Q&A
- HDFC is the bank for personal and car loans
- Personal Loans Interest Rates and More
- Take Tension-free Loans From Indian Banks
- Personal Loans - an excellent financial tool in need
- Bank Loans : blessings for people in financial crisis
- Home Loans Interest Rates By Major Banks
- Education Loan: Your Bright Career is Now a Step Away
- Low Interest Personal Loan: Your Financial Companion in Times of Need




Loans till Payday-Great loan assistance with Great service
By: Chaste Jon | 15/11/2009With the introduction of loans till payday, you can access immediate financial assistance till your future payday without any hassle and cumbersome formalities. These loans are one fiscal solution for you that help you to overcome your financial hardships in least span of time.
Debt consolidation Loans-Relief from debt problems in quick manner
By: Baidehi Creeper | 15/11/2009Looking for a perfect answer to get rid from all the debts? Debt consolidation loans are meant for the applicants who are messed up with innumerable debt problems and finding a suitable way out. However, these loans offers required finance and help you to pay off your unpaid debts soon and also prevent you from further debt problems and bankruptcy.
What You Should Know - Pros and Cons to FHA Loans
By: Mick Bernard | 15/11/2009FHA loans have been helping people become homeowners since 1934. Maybe this government program can help you purchase the dream home you always wanted. Financial instruments come and go with the economic environment, there has been a shift in which kind of loans new home owners are applying for. There has been a new shift with FHA loans which are more popular now than they have been in a few years. With rates and credit being tightened, they are asking for larger down payments, which consists
Payday no fax-Obtain Required Money Till Next Paycheck
By: Jo Mark | 15/11/2009You need short term financial assistance but lots of faxing hassles makes you anxious every time you think for a loan? Now, leave all the financial worries behind and grab easy and instant additional money by applying with payday no fax without any faxing hassles.
Cheap Car Loans-Place your car and get quick money
By: Terry Bock | 14/11/2009You have a car and are ready to place it as collateral? You don’t have adequate money and need a loan for emergency purposes? Afraid to avail a loan help because of paying high interest rates? Now leave all the worries and apply with cheap car loans for instant fiscal aid. These loans are designed for the people who need urgent money and have your own car to place as security.
Instant same day cash loans-Manage your cash troubles instantly
By: Hill Steve | 14/11/2009You can wait more of the days to pay off your uncertain expenses? These are crippling on your head and eating up your mind because of no cash in hand? Get applied with instant same day cash loans for urgent financial help at your doorway. These loans help you to overcome your financial problems without any hindrances and following complicated formalities.
Instant same day cash loans-Manage your cash troubles instantly
By: Hill Steve | 14/11/2009You can wait more of the days to pay off your uncertain expenses? These are crippling on your head and eating up your mind because of no cash in hand? Get applied with instant same day cash loans for urgent financial help at your doorway. These loans help you to overcome your financial problems without any hindrances and following complicated formalities.
Free Bad Credit Debt Consolidation Loan –Quote to reduce extra burden
By: Robart Watson | 14/11/2009Bad debt loans those may help you to reduce extra debt burden right away.
Online Banking : The need of the modern professional
By: addi vardhaman | 05/11/2009 | Personal FinanceThe new stage in the evolution of banking in India, Online Banking has changed how banks function in our country now. Transactions can be made sitting at home or in the office or even through ones mobile. It has bought bank and their clients closer.
Bank Loans : blessings for people in financial crisis
By: addi vardhaman | 23/10/2009 | FinanceBank loans are nothing less than blessings for people who need urgent money or are facing some downtime. In simple words, bank loans like personal loan are an excellent tool to meet the expenses for a person who has no other means of financing.
A policy for risk cover or assured return
By: addi vardhaman | 22/10/2009 | InsuranceThe economy is on the revival path and many are looking to buy a potential insurance plan but with assured returns rather than a simple risk cover.
Health insurance losing its popularity
By: addi vardhaman | 14/10/2009 | FinanceHealth insurance companies in the country are not operating in a happy period due to the different perspectives of customers, companies and regulator.
Life insurance: The resurging giant
By: addi vardhaman | 18/09/2009 | InsuranceAfter spending a considerable time in the shell, insurance sector is finally making the favorable opportunities count, much to the pleasure of business brains behind them.
Health insurance not attractive with good deals
By: addi vardhaman | 17/09/2009 | FinanceThe lower premium collection of private general insurers show that many are not trusting or going for a health insurance policy offered by private players despite of the fact that companies give some best deals.
Ensure your future with insurance policies
By: addi vardhaman | 04/09/2009 | InsuranceInsurance segment of the country is one of the business domain that has managed to resurface after recessionary hiccups. The situation is likely to get better with time.
Insurance: Your Life and Health in your own hands
By: addi vardhaman | 03/09/2009 | InsuranceInsurance is the answer to life's uncertainties and a safety net for a common man to fall back on when faced with insurmountable odds. One has to take care of themselves and their loved ones and the answer to all these problems is Insurance.