Personal loans with zero processing fees: THESE banks are offering the best deals | Mint

Looking to save on your next personal loan? Several banks are now offering zero processing fees, helping you reduce upfront costs significantly—especially on large loan amounts.

It is crucial to keep in mind that processing fees can add a substantial amount to the overall cost of a particular personal loan. For example, on a loan of ₹5 lakhs a 2% processing fee amounts to a substantial figure of ₹10,000. This is clearly a significant upfront cost.

(Source: Bank websites)

Note: The processing fee waivers and zero-fee offers listed above are indicative only and often tied to online applications, festive seasons, or limited-time promotions. Terms may vary by lender, so always verify eligibility and current offers before applying.

That is why several lenders now use zero processing fees to attract borrowers. Comparing charges, terms and conditions in such cases can save you big, especially on large loans. To make the most of the same, you should always check for hidden costs carefully before going for a particular loan product.

How to avail zero processing fee personal loans?

To boost your chances of securing a personal loan with zero processing fees you should:

By staying informed and comparing offers provided by different banks carefully, borrowers can secure cost efficient personal loans designed according to their needs and aspirations.

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