Compare personal loan interest rates from top banks of India – SBI, HDFC, ICICI, Axis Bank, Standard chartered, PNB, Bajaj Finserv, Fullerton India, Bank of Baroda, Bank of India, Union Bank, Citibank, Kotak Mahindra, Yes Bank etc.
Benefits of Personal Loan Personal Loan is a easy way to meet your financials need. You can use Personal Loan for multiple purposes such as – marriage purpose, medical purpose, education purpose, consumer durable etc.
Best Personal Loan Quick Apply
Best Personal Loan Interest Rates February 2020
|State Bank of India||10.50% – 13.50%|
|ICICI Bank||11.25% – 18.00%|
|HDFC Bank||10.75% – 18.00%|
|Bajaj Finserv||10.99% – 16.00%|
|Axis Bank||12.00% – 20.00%|
|Kotak Mahindra Bank||10.99% onwards|
|Fullerton India||11.99% – 20.00%|
|Bank of Baroda||11.15% – 16.15%|
|Bank of India||12.20% – 14.20%|
|Tata Capital||10.99% onwards|
|Standard Chartered||11.00% – 19.20%|
|IndusInd Bank||11.25% onwards|
|IDFC First||14.00% – 19.00%|
|PNB Bank||11.50% – 14.50%|
|Union Bank||10.10% – 14.20%|
|Corporation Bank||10.75% – 12.25%|
|United Bank||13.70% onwards|
|Bank of Maharashtra||10.85% – 11.85%|
|Allahabad Bank||12.15% onwards|
|Bank of India||12.20% – 14.20%|
|Central Bank of India||11.10% onwards|
|Indian Overseas Bank||11.75% onwards|
|Karnataka Bank||12.97% onwards|
|Karur Vysya Bank||12.00% – 18.00%|
Highlights of Personal Loan in India
- Rates are as low as 10.10% to 20.00%.
- Rates varies from Bank to Bank/Customer to Customer.
- Factor for deciding rates: Monthly Salary, Company Profile, Employment Status.
- Personal loan is an unsecured loan and usually rates are higher than secured loans.
How to get Best Personal Loan From Top Banks
When you need cash, a Personal loan is your best mate to fulfill your financial needs. If you are a salaried person, you can avail a loan based on your eligibility. To grab the best deal, customers should compare multiple factors.
Personal Loan Eligibility Criteria
- Different eligibility for different customers
- Same customers can get Rs. 50,000 to 10 lacs depending upon eligibility criteria of bank
- Choose a most suited bank which tailor-made products as per your needs
Personal Loan Prepayment Charges
- Prepayments help in reducing interest & loan tenure
- Check banks on prepayment charges varies from 0% to 5%
- Select the bank by making calculations on prepayment fee
- Right Mix of all above can help you to get more & pay less!
Personal Loan FAQs – Frequently Asked Questions
It is an unsecured (do not put any type of security) loan provided by a bank and non-banking financial company (NBFC) based on – income, previous credit record, repayment capacity, employment type and more. Personal loan is available for salaried and self-employed.
What is personal loan?
This is a unsecured loan and helps you to meet your financial requirements. You don’t usually need to pledge any asset as collateral or security for availing personal loan. It is totally based on your credit record and CIBIL Score.
How to apply for personal loan?
You can apply easily online for personal loan at emicalculator-india.
What is Interest Rate for Personal Loan?
Personal loan interest rate depend upon bank or lended.
What is Personal Loan EMI Calculator?
It is online tool that help to calculate personal loan emi, give you an idea about interest to be paid.
What are eligibility criteria for Personal Loan?
- One must have a regular source of income.
- Salaried individual, self-employed business person or a professional both both are eligible.
- One must have proper credit record and good CIBIL.
- Final amount sanctioned will depend on your income and eligibility and some other factors as per the lender’s criteria.
What are the tenor options available?
You can choose a repayment period ranging from minimum 12 to maximum 60 months.
Can I foreclose or prepay my Personal Loan?
Yes, you can foreclose or prepay your personal loan, most of lender allow foreclosure after 12 EMI, it depend on lender to lender. And also you have to pay pre-closure charges of 2% -5% of principle loan amount.
What is the procedure to prepay my Personal Loan?
For prepay, payment can be made through cash, cheque or demand draft.
Is there any processing fee charges?
Processing fee is depend on bank to bank and lender to lender basically it is 2-4% of sanction loan amount.
Do you offer top-up facility on existing Personal Loan?
Top Up facility is available for those who have paid 12 EMI on the existing Personal Loan. You can Place the request for Top up on existing Personal. The facility is based on your existing personal loan record.
How do I repay the Personal loan?
You can repay the loan in Equated Monthly Installments (EMIs). You can pay your EMI through auto debit, ECS, PDC.
What are the loan tenure options for Personal Loan?
What is the maximum loan amount you can get when you apply for a salaried personal loan?
You can avail a personal loan amount up to Rs.20 lakh.
However, the final amount sanctioned will depend on your income, your CIBIL score and other eligibility criteria.
What is EMI?
Equated Monthly Installments (EMIs) give you the ease and benefit of paying back the personal loan amount in smaller convenient installments. The installments consist of both the principal and interest amounts.
Who can become a co-applicant?
For self-employed: Son, Daughter, partners with at least 51% Stake to be taken co-applicant, one director to be taken co-applicant.