Least interest loans
Hey folks! I saw slice ad saying they are offering some upto 5 l interest free loan. Checking that out. But what companies are offering loan at some extremely low interest rates? I am assuming banks would charge a premium vs the tech companies. I am looking for some 2-4l loan purely because I can earn more via trading than the interests I'd pay for loan.
steppenwolf
Stealth
9 months ago
I would advise you to not take a personal loan for trading. That is one big mistake. Just don't do it. Also HDFC bank provides cheapest rates for PL.
No my bad. I would much rather keep my cash with me so I continue to trade while I get a loan for this big purchase
steppenwolf
Stealth
9 months ago
Just go for HDFC bank then, they can offer you 11% if the ticket size is less than 10L. If it's 10L and above you can get a rate of 10.50%.
admiN
Stealth
9 months ago
You can get an overdraft over FD from some banks like ICICI. It is 2% over your FD interest. The money in FD continues to earn interest. So net interest reduces a lot. I think the processing fee is nil too (not sure). It is usually a cost effective loan when you have money in hand already. Max overdraft you can take is 90% of the amount in FD.
PSBs offer lowest interest rates. But would suggest not to take PL for trading or investing.
Check your Loan Agreement. Some (not all) issuers have a End Use Restriction that prohibit you from certain uses even for a personal loan. Investing is one of those use cases.
If you have mutual funds get a loan against them its cheaper than all loans try it on smallcase
Whatsinthename
Stealth
9 months ago
Bank of Maharashtra and other PSU. Try availing PL from where you have a salary account and negotiate with them.
Don't do trading with loan money bro.