Today we are going to tell you about the personal loans of HDFC Bank and ICICI Bank. We will tell you from which bank a personal loan of Rs 5 lakh will be cheaper for you. Let us know.

Money can be needed by anyone at any time. In such a situation, every person should keep an emergency fund, but some people do not pay much attention to this. Such people find it very difficult to arrange money in difficult times. Some people also take personal loans from the bank to meet their need for money, but let us tell you that personal loans are much more expensive than other loans. The interest rates of this loan are higher than other loans.

If you are also planning to take a personal loan from the bank, then you should take a personal loan from a bank where you get loans at the lowest interest rate. Today we are going to tell you about the personal loans of HDFC Bank and ICICI Bank. We will tell you from which bank a personal loan of Rs 5 lakh will be cheaper for you. Let's know.

EMI on a personal loan of Rs 5 lakh from HDFC Bank

HDFC Bank is one of the largest private banks in the country. HDFC Bank offers personal loans to its customers at an initial interest rate of 10.90 percent. If you take a personal loan of Rs 5 lakh from HDFC Bank for a period of 3 years, then you will have to pay Rs 16,346 every month as EMI. In such a situation, you will pay a full Rs 88,445 only as interest.

EMI on a personal loan of Rs 5 lakh from ICICI Bank

ICICI Bank is also one of the largest private banks in the country. This bank offers personal loans to its customers at an initial interest rate of 10.85 percent. If you take a personal loan of Rs 5 lakh from ICICI Bank for a period of 3 years, then you will have to pay Rs 16,334 every month as EMI. In such a situation, you will pay a full Rs 88,019 only as interest.