Top 5 Personal Loan Banks In India Interest Rates Apr 2020

Personal Loan is an unsecured loan, you can avail a personal loan without collateral to be put up as security, it basically depends on your credit history. Personal loan for a variety of purposes such as wedding function, home renovation, medical emergencies, your dream vacation to purchase a consumer durables and more.

  • Stop HDFC Bank Credit Card EMI for 3 Months - Click Here
  • Download Application Form to Stop SBI Loan EMI - Click Here
  • Process to Stop SBI Bank Credit Card EMI for 3 Months - Click Here
  • Fullerton India EMI Postponed / Stop Request Process - Click Here
  • Bajaj Finserv EMI Postponed / Stop Request Process - Click Here
  • Other Banks Application Form to Stop Loan EMI - Click Here

Personal Loan HighlightsPersonal loan fulfills personal needs, convenient, minimal documentation, quick approval mechanism, no guarantee required, apply online, can be used for many purposes.

Eligibility Criteria For Top 5 Personal Loan Bank In India – If your credit record or CIBIL score is good so you are eligible to get the high loan amount. Some other factors like income, job stability or business stability. Minimum age – 21 and maximum age 60. Applicant must have a regular source of income.

Documents Required For Top 5 Personal Loan Banks In India – Applicant need to submit proof of identity, proof of address & income proof.

Quick Apply For Top Banks Personal Loan

Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Personal Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

List of Top 5 Personal Loan Bank In India

SBI Personal Loan

Get SBI personal loan maximum of Rs. 15 lakh, repayment period of 5 years. Loan can be used for multiple purposes. SBI offer Xpress Credit Loan, SBI Pension Loan, SBI Xpress Power Loan.

HDFC Personal Loan

Avail HDFC personal loan upto Rs. 15 lacs, repayment period up to 60 months. HDFC personal used for medical expenses, any type of home function and more.

ICICI Personal Loan

Get ICICI personal loan amount maximum of Rs. 20 lakh, tenure up to 5 years. Personal loan a can be paid monthly through EMIs.

Axis Bank Personal Loan

Avail Axis bank personal loan maximum loan amount of Rs. 15 lacs, maximum tenure of 60 months. Loan EMI is depend on loan amount, interest rates and tenure.

PNB Personal Loan

Avail PNB personal loan of loan amount up to 4 lacs for 60 months. Salaried and self employed are eligible for personal loan.

Compare Top 5 Personal Loan Bank In India

Banks Interest Rate Loan Amount Tenure/Repayment Period
SBI 10.50% – 13.50% Up to Rs. 15 lacs Maximum 60 months
HDFC 10.75% – 18.00% Up to Rs. 15 lacs Maximum 60 months
ICICI 11.25% – 17.99% Up to Rs. 20 lakh Maximum 60 months
Axis 12.00% – 20.00% Up to Rs. 15 lacs Maximum 60 months
PNB 11.50% – 14.50% Up to Rs. 4 lacs Maximum 60 months

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 are the Interest Rates for Personal Loan?

Interest rate is the value that borrower have to pay on the principal loan amount.

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 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. 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.

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 Instalments (EMIs). You can pay your EMI through auto debit, ECS, PDC.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *