Personal Loan – Compare and Apply Personal Loan Online

Read Time:8 Minute, 1 Second

Personal Loan Images - Free Download on Freepik

What is a Personal Loan?

A personal loan is a flexible, unsecured loan that lets you borrow a specific amount of money from a lender. You repay it in fixed installments over time, usually with a consistent interest rate. Since no collateral is needed, it’s a convenient option for covering personal expenses like debt consolidation, big purchases, or unexpected emergencies.

Personal Loan – Get personal loans of up to Rs.40 lakh & above at attractive rates starting at 10.49% p.a. with flexible tenures of up to 6 years.

Personal Loan Details

A Personal loan is a type of unsecured loan that you can borrow from a bank or financial institution if you require funds to pay for your financial needs.

Interest Rate	10.49% p.a. onwards
Loan Amount	Up to Rs.1 crore
Loan Tenure	Up to 7 years
Processing Fee	0% – 6% of the loan amount + GST

We found 17 Personal Loans 4.0 /5.0 from 97112 usersFilter

Bank

HDFC IndusInd Bank Chola MyShubhLife Tata Capital Fullerton Home Credit Kotak Mahindra Ujjivan Small Finance Bank Ltd InCred Edelweiss Salaried Personal Loan Standard Chartered Bank YES BANK HDB FINANCIAL SERVICES Aditya Birla Finance Limited IIFL Finance Ltd IDFC First Bank

Interest Rate

10.49%44%Interest Rate range: 10.49% – 44%

Instant Loans Up To Rs. 40 Lakhs

100% Paperless Approval

HDFC Bank Personal Loan

Loan Amount:Up to ₹40LFixed:10.50% – 24.00%Tenure:1 – 5 YearsProcessing Fee:₹ 4,999Apply Now ExploreSee More

Loans Upto Rs. 5 Lakhs.

100% Paperless Approval

IndusInd Bank Personal Loan

Loan Amount:Up to ₹50LFixed:10.49%Tenure:5 YearsProcessing Fee:Up to 3.00%Apply Now ExploreSee LessFees & Eligibility Features

Fees & Charges

Pre-closure fee = 4% of principal outstanding (plus applicable tax)

Eligibility Criteria

Age at least 23 years and less than 58 years for salaried
Age at least 28 years and less than 68 years for self-employed
For salaried, 2 years minimum overall work experience with 1 year minimum experience in current company
For self-employed, at least 5 years of experience after relevant qualification

Documents

KYC – PAN, address & ID proof

Instant Disbursal

100% Paperless Approval

TurboLoan powered by Chola

Loan Amount:₹1L -₹3LFixed:15.00% – 21.00%Tenure:Up to 3 YearsProcessing Fee:3.00%Apply Now ExploreSee More

Instant Loans Starting From Rs. 75,000

MyShubhLife

Loan Amount:₹75K -₹5LFixed:26.00%Tenure:1 – 4 YearsProcessing Fee:3.00%Apply Now ExploreSee More

Zero Processing Fee & 6-Year Tenure

100% Paperless Approval

Tata Capital Personal Loan

Loan Amount:Up to ₹35LFixed:10.99% – 29.00%Tenure:6 YearsProcessing Fee:Up to 3.00%Apply Now ExploreSee More

Instant Loans Up To Rs. 25 Lakhs

100% Paperless Approval

Fullerton Personal Loan

Loan Amount:Up to ₹25LFixed:11.99%Tenure:5 YearsProcessing Fee:6.00%Apply Now ExploreSee More

Instant Loan Up To 2 Lakhs

HOME CREDIT

Loan Amount:Up to ₹5LFixed:24.00% – 34.00%Tenure:4 YearsProcessing Fee:2.50% – 5.00%Apply Now ExploreSee More

Interest Rate From Just 10.50%

100% Paperless Approval

Kotak Mahindra Bank Personal Loan

Loan Amount:Up to ₹40LFixed:10.99%Tenure:5 YearsProcessing Fee:3.00%Apply Now ExploreSee More

First-Time Borrowers

Ujjivan Small Finance Bank

Loan Amount:Up to ₹30LFixed:11.49% – 16.49%Tenure:3 YearsProcessing Fee:2.00%Apply Now ExploreSee More

No Credit History Required

100% Paperless Approval

InCred Personal Loan

Loan Amount:₹50K -₹7.5LFixed:16.00% – 36.00%Tenure:1 – 4 YearsProcessing Fee:2.00% – 5.00%Apply Now ExploreSee More

Loan Up To 20 Lakhs For Salaried

Edelweiss Salaried Personal Loan

Loan Amount:Up to ₹20LFixed:25.00%Tenure:4 YearsProcessing Fee:2.00%Apply Now ExploreSee More

No Income Docs Required

Standard Chartered Bank

Loan Amount:₹1L -₹6LFixed:10.60% – 18.00%Tenure:5 YearsProcessing Fee:2.25%Apply Now ExploreSee More

Balance Transfer

Yes Bank Personal Loan

Loan Amount:Up to ₹40LFixed:10.99% – 20.00%Tenure:5 YearsProcessing Fee:2.50%Apply Now ExploreSee More

Balance Transfer

100% Paperless Approval

HDBFS Personal Loan

Loan Amount:Up to ₹20LFixed:12.00% – 31.00%Tenure:5 YearsProcessing Fee:Up to 2.00%Apply Now ExploreSee More

Zero Part-Payment Fee

Aditya Birla Capital Personal Loan

Loan Amount:Up to ₹50LFixed:10.99%Tenure:7 YearsProcessing Fee:3.00%Apply Now ExploreSee More

Zero Pre-Closure Fee

100% Paperless Approval

India Infoline Finance Ltd. Personal Loan

Loan Amount:Up to ₹5LFixed:12.75% – 44.00%Tenure:4 YearsProcessing Fee:2.00% – 6.00%Apply Now ExploreSee More

Quick Loan Disbursal

IDFC First Bank Personal Loan

Loan Amount:Up to ₹5LFixed:10.49%Tenure:1 – 5 YearsProcessing Fee:Up to 3.50%Apply Now ExploreSee MoreUpdated On – 01 Jan 2025

Types of Personal Loan

There are two types of personal loan schemes. They are:

Unsecured Personal Loan: Under these types of loan schemes, you don’t need to provide any security or collateral to the bank. If you meet all the eligibility criteria and have a decent credit score, then you can avail yourself of an unsecured personal loan.
Secured Personal Loan: Under these types of personal loan schemes, you will need to provide some form of security or collateral to the bank. A business loan or a gold loan is an example of a secured loan as you may have to provide some form of property to apply for a business loan and gold if you wish to avail a gold loan.

Best Personal Loan Schemes and Offers from Top Banks

You can either visit the official website of the bank to directly apply for a personal loan or visit the BankBazaar.com website to compare different loans and then apply for one which suits you best.

Bank	Best For	Key Highlights
SBI Personal Loan	Different Income Categories	Interest rates starting at 11.45% p.a.Loans of up to Rs.30 lakhTenure of up to 6 years
HDFC Personal Loan	Self-Employed Professional	Interest rates (rack interest) ranging between 10.85% p.a. and 24.00% p.a.Tenure of up to 5 yearsLoans of up to Rs.40 lakh
Kotak Mahindra Personal Loan	Quick Turnaround Time	Interest rates starting at 10.99% p.a.Loans of up to Rs.40 lakhTenure of up to 5 years
Yes Bank Personal Loan	Quick Approval	Interest rates ranging from 11.25% p.a. to 21% p.a.Loans of up to Rs.40 lakhTenure of up to 6 years
Union Bank of India Personal Loan	Suitable for first time borrowers	Interest rates (rack interest) ranging between 11.80% p.a. and 15.50% p.a.Tenure of up to 5 yearsLoans of up to Rs.15 lakh
Axis Bank Personal Loan	Minimum documentation	Interest rates starting at 11.25% p.a.Loan amount of up to Rs.40 lakhTenure of up to 7 years
Tata Capital Personal Loan	Flexible Interest Rates	Interest rates starting at 11.99% p.a.Tenure of up to 6 yearsLoans of up to Rs.35 lakh
Standard Chartered Personal Loan	Short-term Requirement	Interest rates starting from 11.49% p.a.Tenure of up to 5 yearsLoan amount of up to Rs.50 lakh
IDFC First Personal Loan	Top-Up Loans	Interest rate starting at 10.99% p.a.Loans of up to Rs.10 lakhTenure of up to 5 years
SMFG India Credit Personal Loan	Quick Approval	Interest rates starting at 13% p.a.Loans of up to Rs.30 lakhTenure of up to 60 months
IIFL Personal Loan	Easy Eligibility Checks	Interest rates starting at 12.75% p.a.Loans of up to Rs.5 lakhTenure of up to 42 months
HDBFS Personal Loan	Special Offers	Interest rates up to 36% p.a.Loans of up to Rs.20 lakhTenure of up to 5 years
PNB Personal Loan	Affordable Interest Rates	Interest rates from 12.40% p.a. onwardsLoans of up to Rs.20 lakhTenure of up to 72 months
IndusInd Bank Personal Loan	Flexible tenure	Interest rates starting at 10.49% p.a.Loans of up to Rs.50 lakhTenure of up to 6 years
IDBI Bank Personal Loan	Simple application process	Interest rates ranging between 10.60% and 13.35% p.a.Tenure of up to 5 yearsLoans of up to Rs.5 lakh

FREE Credit Score – Check Now

Personal Loan Interest Rates

The personal loan interest rates vary between 10.49% p.a. and 36% p.a. Depending on the loan amount availed by you, your credit score, and repayment tenure, the interest rate charged on your loan is decided. If you maintain a high credit score and have a good relationship with the bank, then the interest rate on your personal loan can be lowered.

Uses of Personal Loan

What can you use a personal loan for? Since it is an unsecured loan without the need for any collateral, there are very few limitations on how you can use a personal loan. It can broadly be used for consolidating your debt (from other loans or credit cards), making high-value purchases for which you do not have cash in hand, or for emergency situations.

It cannot be used for speculative purposes or for making investments in the stock market. Some of the common reasons that people take out personal loans for includes meeting sudden business or educational expenses, paying for a vacation, buying high-end electronic gadgets or household appliances, wedding expenses, emergency medical expenses, home renovations, etc.

It can also be used for buying a vehicle if the rate of interest is lower than that of a vehicle loan. Thus, a personal loan has a wide variety of uses and can come in handy for meeting either planned or emergency expenditure.

Courtsey To : Bankbazaar