Doofus

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.

10mo ago

steppenwolf

Stealth10mo

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.

Doofus

InMobi10mo

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

Stealth10mo

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%.

prolificjson

Stealth10mo

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.

Moonpieee

JP Morgan10mo

Lord SBI offers at 1%😎

Whatsinthename

Stealth10mo

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.

bootstrapfounder

Navi Technologies10mo

If you have mutual funds get a loan against them its cheaper than all loans try it on smallcase

TallTales69

Unemployed10mo

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.