Low APR Personal Loans


Full form of APR is annual percentage rate that is the rate of interest levied per year on a loan. Rate of interest on personal loan from different banks is different for different individuals based on various factors. Rate of interest on personal loan in India may vary from 12% to 32%. The variation in these rates is due to different policies of different banks and NBFCs in providing the loan whereas the personal loan rates depend on these factors:

  • Your income status
  • Your company status
  • Your credit history
  • Your relationship with the bank
  • Your negotiation ability

Income status is the amount of your income and the stability of your income. Company status is the type of company you work in and its turnover annually. Credit history is the credit status with CIBIL India. Your relationship with the bank is how well is yours with the bank. Your negotiation ability is how much can you bargain with the bank while getting the loan. Other than these factors the amount of money you want to get as loan and for how much time will you need the loan is also a factor in your getting the low APR personal loan from various banks. First of all, you should do a research about all the bank’s APR regarding your loan amount and then go to the bank which offers you the loan you want at the least APR.


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