Personal loan : An Easy but costly Loan
Personal banking is becoming the new buzzword in banking field, interest rates on personal loans continue to be higher than those prevalent in other loan segments.
Interest rates may be on the decline in the money markets, but the retail customer remains bereft of its benefits, with banks continuing to woo corporate customers with low prime lending rates and sub-PLR rates.
While deposit rates of private, foreign and nationalized banks, are getting cut ever so often, and hover at an average of 8 per cent, lending rates on personal loans continue to be steep in the range of 16-24 per cent.
Categories: Personal Loans India