Get Personal Loan

A personal loan refers to money that is borrowed from a financial institution, for personal (not professional or business) use. In opposition to larger and long-term loans, personal loans are taken into relatively short to medium terms. Generally personal loans are used to pay for one-time or short term expenses where a borrower (the person who is getting the loan) doesn't normally require disclosing the specific reason for the loan.

This type of loan is used by many to resolve their current financial needs. You can use a personal loan for a variety of purposes, including travel, wedding expenses, home renovation, in a medical emergency or to buy a gadget. Means if you have a requirement of money so personal loan is the best choice.

A personal loan is taken for tenure of one to five years. Also these require lowest formalities and no collateral or security. It is a type of unsecured loan which can be availed on the basis of various criteria. Level of income, employment history, credit score and scope for repayment are those specific criteria.


Compare Top Personal Loan Banks on the Basis of Interest Rates,

Bank Name Sep-2020

Rate Of  Interest 

Loan Amount

Aditya Birla  17.85% Up to 50Lakh
Axis Bank 12.00% up to 15Lakh
Bank Of India 12.35% Up to 10Lakh
Bajaj Finserv  10.99% Up to 25Lakh
Bank Of Maharashtra 11.85% Up to 10Lakh
Bank Of Baroda 15.60% Up to 10Lakh
Central bank Of India 10.20% Up to 20Lakh
Citi Bank 16.49% Up to 30Lakh
Edelweiss 17.00% Up to 20Lakh
Federal Bank 16.99% Up to 25Lakh
Fullerton Bank 11.99% Up to 25Lakh
HDFC Bank 10.75% Up to 40Lakh
HSBC Bank 10.50% Up to 30Lakh
Home Credit 24.00%

Up to 2.4Lakh

 

Indiabulls 12.99% Up to 15Lakh
ICICI Bank  11.25% Up to 20Lakh
IDBI Bank 12.00% Up to 5Lakh
IDFC First Bank  10.75% Up to 25Lakh
Indian Bank  09.20% On Profile
Induslnd Bank 11.00% Up to 15Lakh
Indian Overseas Bank 11.00% Up to 15Lakh
Kotak Mahindra Bank 10.75% Up to 20Lakh
Muthoot Finance 15.00% On Profile
Standard Chartered Bank  11.00% Up to 50Lakh
Tata Capital 10.99% Up to 25Lakh
yes Bank 10.99% Up to 40Lakh

Document Requirement

Following documents are required by financial institutions to process the loan application:

  • Identity proof.
  • 3 to 6 months Bank statements.
  • Residence proof.
  • Salary slip.
  • Guarantors & their same set of documents
  • CIBIL / Credit Information Bureau Report Request Form