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Bank Loans vs Mobile App Loans: Why Bank Loans Are the Best Option in 2024

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Why Bank Loans Are the Best Option in 2024

Instant Personal Loan 2024

The loan taken for one’s own needs is called a personal loan. In our country, there are many options for taking loans like loans from landlords, loans from banks, loans from any committee, loans from relatives, loans from mobile applications etc.

But the best and right option among these is a bank loan because it runs by creating a security system in which work is done under the Government of India, so if you are thinking of taking a loan then take it from the bank, otherwise you can also take it from your relatives, take a loan from the mobile application only when there is an urgent and immediate need.

In today’s modern era of the internet, various types of mobile applications are also available that provide loans in a short time, which we call “instant loan”, but taking a loan from such an application is not considered right.

Our advice is always given by keeping the data, previous records, and customers’ reviews in mind, so we are able to put our point openly, we present it to you only after confirming the correct and accurate information.

So according to our research, it has been found that in the past years, people had to face a lot of trouble due to loans taken through a mobile application, so in the matter of loan, loan importance should be given to the bank.

Which bank personal loan is easy to get in 2024

There are a top few banks that provide personal loans very easily and in a short time..These are as follows.

1 ICICI bank loan 2024 –

This bank gives loans in a few easy steps. For this, you have to visit the official website of the bank for which it is mandatory to have an account of this bank and through internet banking you will be able to easily apply for a loan. Select the loan option, give the necessary information, upload some documents and you will get the loan through online mode directly in your bank account.

2 HDFC bank loan 2024-

If you are an old customer of this bank then it is even very easy to get a loan. If you do not have an account with this bank, then the loan is provided for a maximum of 4 days after opening the account. Some important documents are required for this, after verification of the documents, the loan is received in just 1 minute.

You can complete this entire process by visiting the official website of HDFC Bank.

2 Kotak Mahindra bank loan 2024-

As of the present time, this bank is being liked a lot because despite having a zero account in this bank, many types of facilities are also being provided.

This bank gives two types of personal instant loans.

  • Small loan
  • Upto 40 lakhs personal instant loan

Small loans really play a very good role because these loans are easily available in times of trouble and emergency, through this a loan of up to 50 thousand rupees is given on which the interest has to be paid is also less that gives relief to the customer.

Secondly, you can also take a loan of up to 40 lakhs from Kotak Mahindra Bank, to take a loan of 40 lakhs, there is a minimum time period required for document verification.

Personal Loan Calculator 2024

If you take a loan of Rs 50,000 from ICICI Bank for 1 year, then as per a 10.8% interest rate, your EMI will be Rs 4414 and your total interest will be Rs 2973.

Education loan 2024

It is very easy to take a loan for education and that is called an education loan, you also get relief as decided by the government of India..The interest rate on education loans is also very low compared to other loans.

Eligibility for education loan 2024

Some important things should be kept in mind while taking an education loan because separate terms and conditions have been created for education loans.

  • Your age must be at least 18 years and a maximum of 35 years.
  • The Academic record should be good
  • You should be a student of UG/PG and a Ph.D. from a recognized and UGC-affiliated university, for which an admission call letter or mark sheet is mandatory.
  • It is also necessary to have some documents like a bank statement, identity certificate, mother or father’s income certificate, residence certificate, passport-size photo etc.


Q. Can Poor students take education loans in 2024?

Ans. Yes, If you have taken admission in any IIT or IIM, then an education loan can be given to you irrespective of your financial status.

Q. Can I get an education loan with a 0% interest rate in 2024?

Ans. No

Q. What is the required percentage in the 12th class mark sheet to get an education loan in 2024?

Ans. There is no fixed provision for this, but most banks provide education loans to the students who have scored 60% marks in the 12th board.

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