Applying for a personal loan involves three simple steps:
Step-1: Fill the eligibility form
In the first step, the customer needs to fill in the eligibility form which includes filling the following details:
- Full Name(As per PAN Card)
- Email Address
- Current Residence Pincode
- Employment Type
- Current Company Name
- Monthly in-hand salary
- Mobile Number
Step-2: Select from the multiple offer(s)
You will be given a list of lenders based on the information provided by you in Step-1. The offer could be one or more than one based on your profile. Out of the list, select the lender you wish to go ahead with. Please remember to consider the following points when choosing the lender:
- Interest rate offered
- Loan amount
- Loan Tenure
- EMI
Step-3: Apply for the loan
This step is an extended version of Step-1 where you have to give more details on your application. This is where you give a detailed information about your personal details and bank details.
Once you submit your application, our representative will contact you to cross verify the details before sending the application to the respective lender.
Best Personal Loans in India
| S. No. | Bank Name | Interest rate (p.a) | Loan Amount |
| 1 | Yes Bank | 10.99% – 15.99% (BT Special rates – 10.75%) | ₹1 lakh – ₹25 lakhs |
| 2 | ICICI Bank | 11.50% – 17.25% | ₹50k – ₹25 lakhs |
| 3 | HDFC Bank | 11.25% – 17.75% | ₹50k – ₹40 lakhs |
| 4 | Kotak Bank | 10.75% – 17.99% | ₹1 lakh – ₹30 lakhs |
| 5 | Tata Capital | 11.25%- 18.75% | ₹75k – ₹25 lakhs |
| 6 | IndusInd Bank | 11.50% to 19.00% | ₹1 lakh – ₹25 lakhs |
| 7 | IDFC First Bank | 12.00 % to 21% | ₹1 lakh – ₹40 lakhs |
| 8 | Bajaj Finserv | 12.49%-15.30% | ₹1 lakh – ₹20 lakhs |
| 9 | RBL Bank | 11.99% – 18.0% | ₹1 Lakh – ₹20 Lakhs |
| 10 | Fullerton | 11.99% – 25% | ₹65K – ₹25 Lakhs |
*The figures provided in the table are indicative subject to change from time.
Yes Bank Personal Loan
YES Bank personal loans are personalised, faster and easier.
| Particulars | Salaried Individual |
| Interest Rate | 10.99% – 15.99% (BT Special rates – 10.75%) |
| Loan Tenure | 12-60 months |
| Age | 22 to 60 years (at the time of loan maturity) |
| Processing Fee | Up to 2.50% of the loan amount subject to a minimum of ₹999/- plus taxes |
| Lock-in period | 12 months |
| Prepayment/ Preclosure charges | 13 – 24 months – 4% of principal outstanding
25 – 36 months – 3% of principal outstanding 37 – 48 months – 2% of principal outstanding >48 Months – Nil |
*The figures provided in the table are indicative subject to change from time.
ICICI Personal Loan
ICICI personal loans are flexible, quick and convenient and have competitive interest rates.
| Particulars | Salaried Individual |
| Interest Rate | 11.50% to 17.25% |
| Loan Tenure | 12-60 months |
| Age | 23 years to 58 years |
| Processing Fee | Up to 2.25% per annum of loan amount plus GST |
| Lock-in period | 6 months |
| Prepayment/ Preclosure charges | 5% per annum of the principal outstanding plus GST |
*The figures provided in the table are indicative subject to change from time.
HDFC Personal Loan
HDFC bank personal loan is one of the popular products of this bank. The personal loans are easy-to-get, hassle-free and superfast.
| Particulars | Salaried Individual |
| Interest Rate | 11.25% – 17.75% |
| Loan Tenure | 12-60 months |
| Age | 21 years – 60 years |
| Processing Fee | Up to 2.50% of the loan amount subject to a minimum of ₹1,999/- & Maximum of ₹25000/- |
| Lock-in period | 12 months |
| Prepayment/ Preclosure charges | 13-24 Months – 4% of Principal Outstanding
25-36 Months – 3% of Principal Outstanding >36 Months – 2% of Principal Outstanding >48 months – 0% |
*The figures provided in the table are indicative subject to change from time.
Kotak Bank Personal Loan
Kotak bank personal loans are quite popular in India. It provides personal loans at minimal documentation and flexible EMI’s.
| Particulars | Salaried Individual |
| Interest Rate | 10.75% – 17.99% |
| Loan Tenure | 12-60 months |
| Age | 21 years – 58 years |
| Processing Fee | Up to 2.5% of the loan amount + GST and other applicable statutory levies |
| Lock-in period | 12 months |
| Prepayment/ Preclosure charges | 5% of the outstanding amount + GST on principal outstanding |
*The figures provided in the table are indicative subject to change from time.
Bajaj Finserv Personal Loan
The Bajaj personal loans are non-collateral loans with minimal documentation. Moreover, the loans are available at flexible EMI’s ranging from a year to 5 years.
| Particulars | Salaried Individual |
| Interest Rate | 12.0% to 21% |
| Loan Tenure | 12-60 months |
| Age | 25 years – 58 years |
| Processing Fee | Up to 2.0% of the loan amount |
| Lock-in period | 1 month |
| Prepayment/ Preclosure charges | 4% plus applicable taxes on principal outstanding |
*The figures provided in the table are indicative subject to change from time.
IDFC First Bank Personal Loan
| Particulars | Salaried Individual |
| Interest Rate | 12.49% to 15.30% |
| Loan Tenure | 12-60 months |
| Age | 23 years – 60 years |
| Processing Fee | Up to 2.0% of the loan amount plus GST |
| Lock-in period | 1 month |
| Prepayment/ Preclosure charges | 4% plus applicable taxes on Loan amount |
*The figures provided in the table are indicative subject to change from time.
RBL Personal Loan
| Particulars | Salaried Individual |
| Interest Rate | 11.99% to 18.00% |
| Loan Tenure | 12-60 months |
| Age | 25 years – 60 years |
| Processing Fee | 1.5% of the loan amount (Non Refundable fee of Rs 7500 Upfront, Rest at the time of disbursal) |
| Lock-in period | 12 Months |
| Prepayment/ Preclosure charges | NIL |
*The figures provided in the table are indicative subject to change from time.
Tata Capital Personal Loan
| Particulars | Salaried Individual |
| Interest Rate | 11.25% to 18.75% |
| Loan Tenure | 12-72 months |
| Age | 25 years – 60 years |
| Processing Fee | From ₹999/- Up to 3.00% of the loan amount and applicable Service Tax |
| Lock-in period | 6 months |
| Prepayment/ Preclosure charges | >6 months – 3.5% of principal outstanding For loan amount >= 7lakhs – NIL Preclosure BT – 5% of the principal outstanding |
*The figures provided in the table are indicative subject to change from time.
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