15 Best Personal Loan Providers in India in 2018

A Personal Loan is basically an unsecured loan that is offered to the customers (salaried individuals, self-employed professionals, and business-owners) by various banks, non-banking financial companies [NBFCs] and other financial institutions in India. Customers can use the Personal Loan amount for their varied personal needs.

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Personal Loan is one of the most popular financial products in today’s world. It’s very much essential that the customer selects the best bank to apply for a Personal Loan offer. There are various popular Personal Loan providers in India such as HDFC, SBI, Bajaj Finserv, ICICI Bank, Axis Bank, Capital First, Kotak Mahindra, and so on. Here we will help you to know the best Personal Loan Providers in India in 2018.

1. State Bank of India: It is one of the trusted and popular banking service provider in India and across the world. SBI Personal Loans are available for all – salaried employees, business owners, self-employed professionals, and pensioners.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 15 Lakhs
• Interest Rate: 11-17.05%

2. ICICI Bank: ICICI offers one of the best Personal Loan services to its customers to cover all types of expenses like a holiday, renovation, marriage, and so on.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 25 Lakhs
• Interest Rate: 11.25-17.99%

3. Axis Bank: Axis Bank Personal Loan comes with a low processing fee, minimal documentation, and quick approval.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 15 Lakhs
• Interest Rate: 15.75-24%

4. Bajaj FinServ Limited: Get a loan within 24 hours of approval with Bajaj FinServ Personal Loan. No need to pledge collateral to get funds. The funds can be used for multiple purposes depending on your need.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 25 Lakhs
• Interest Rate: 12.99% onward

5. Standard Chartered Bank: In recent times, Standard Chartered Bank Personal Loan is becoming popular in India. You can avail this loan for various reasons like a vacation, business growth, home renovation, child’s education, wedding, and so on.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 30 Lakhs
• Interest Rate: 10.99% onward

6. Tata Capital: Get Tata Capital Personal Loan without collateral. You can also calculate your eligibility using their online EMI calculator. Their minimum paperwork, seamless loan procurement process, and affordable interest rates make them one of the pioneer Personal Loan Providers in India.

• Maximum Tenure: 72 months
• Maximum Loan Amount: Rs. 15 Lakhs
• Interest Rate: 10.99-19%

7. Capital First: For instant online approval (in just 2 minutes in some cases), avail Capital First Personal Loan. The bank offers loans to everyone – salaried individuals as well as self-employed professionals. You can borrow an additional amount by availing their top-up facility.

• Maximum Tenure: 5 years
• Maximum Loan Amount: Rs. 25 Lakhs
• Interest Rate: 10.99% onward

8. HDFC Bank: It is one of the leading Personal Loan providers in India. HDFC Bank Personal Loans come with flexible tenures, competitive rates of interest, pocket-friendly repayment options and superfast disbursal.

• Maximum Tenure: 5 years
• Maximum Loan Amount: Rs. 40 Lakhs
• Interest Rate: 11.50% onward

9. Kotak Mahindra: Kotak Mahindra offers instant Personal Loan to business professionals, business owners, and self-employed individuals for a wedding, home renovation, child education, and other personal expenses.

• Maximum Tenure: 5 years
• Maximum Loan Amount: Rs. 15 Lakhs
• Interest Rate: 10.99% to 24%

10. Aditya Birla Finance Limited: Aditya Birla Personal Loan has some unique benefits like zero documentation for loan sanction, hassle-free application process, quick disbursal and collateral-free Personal Loan services. In some cases, the online approval process is completed within 30 minutes.

• Maximum Tenure: 36 months
• Maximum Loan Amount: Rs. 15 Lakhs
• Interest Rate: 11.75% onward

11. Citibank: By availing Citibank Personal Loan, you can be assured to get funds quickly with minimal documentation and instant loan approval. The amount is credited to your bank account within 48 hours of approval. The bank also offers part pre-payment facility and

Credit Card and Personal Loan consolidation.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 30 Lakhs
• Interest Rate: 10.99% onward

12. Bank of Baroda: Bank of Baroda Personal Loans are quick and require less paperwork. You can apply for this loan to fund your medical, home renovation, vacation, higher education need and much more.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 10 Lakhs
• Interest Rate: 11.70% onward

13. PNB: Get PNB or Punjab National Bank Personal Loan to meet all your personal needs like  medical treatment, marriage, education, foreign travel or other expenses on easy terms.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 10 Lakhs
• Interest Rate: 12.05-15.05%

14. Yes Bank: For instant approval, and seamless processing, apply for Yes Bank Personal Loan to fulfil every little dream of yours.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 25 Lakhs
• Interest Rate: 10.75-17.5%

15. Bank of India: Bank of India Personal Loans are quick and easy to procure to fund all your urgent financial needs.

• Maximum Tenure: 60 months
• Maximum Loan Amount: Rs. 10 Lakhs
• Interest Rate: 12.15-14.15%