NOT ALL BANKS OFFER THIS FACILITY

Many banks offer this facility to the investors. The banks are registered with Computer Age Management Solution Private Limited (CAMS). Here is a breakup of interest rates offered by different banks and the EMI amount on a loan of Rs 10 lakh for three years (Source: BankBazaar)

ICICI BANK

ICICI Bank offers an interest of 11.50% and the EMI amount is Rs 32,976 on a loan of Rs 10 lakh for three years.

AXIS BANK

Axis Bank offers an interest of 11.49% and the EMI amount is Rs 32,971 on a loan of Rs 10 lakh for three years.

KOTAK MAHINDRA BANK

Kotak Mahindra Bank offers an interest of 8.50% and the EMI amount is Rs 31,568 on a loan of Rs 10 lakh for three years.

BANK OF BARODA

Bank of Baroda offers an interest of 9.90% and the EMI amount is Rs 32,220 on a loan of Rs 10 lakh for three years.

SBI

State Bank of India offers an interest of 10.05% and the EMI amount is Rs 32,291 on a loan of Rs 10 lakh for three years.

HDFC BANK

HDFC Bank offers an interest of 10.08% and the EMI amount is Rs 33,305 on a loan of Rs 10 lakh for three years.

NBFCs

Three NBFCs - Tata Capital, SMFG India Credit, and IIFL Finance - offer interest between 8-10%. The EMI amount is Rs 31,336, Rs 31,800, and Rs 32,267 respectively on a loan of Rs 10 lakh for three years.