Personal Loans provide you a lot of advantages. The loan amount that can be availed under Personal Loans is up to Rs. 50 Lakhs (varies from bank t bank).
Some of the popular banks in India that offer Personal Loans are HDFC Bank, State Bank Of India, Axis Bank, ICICI Bank, Standard Chartered Bank, and Kotak Mahindra. These loans are approved on the basis of your earnings as well past credit. Only salaried individuals, self-employed professionals as well as businesspeople can avail these loans.
Here, we have brought to you the Top 10 Personal Loan providers in India along with a brief about their features:
- ICICI Bank Personal Loan
ICICI Bank Personal Loans can be obtained without any hassle and do not need any guarantor or even security. ICICI Bank Personal Loan Interest Rates start from 11.25%. These loans are offered to salaried, self-employed and doctors and they have reimbursement options from 12 to 60 months.
The documents required are – identity proof, residence proof, bank statement for the past 3 months, salary slip and passport size photo. In the case of self-employed, they might need a proof of stability of business as well.
Once the verification is completed the loan is disbursed within 72 hours You can get an amount up to Rs. 20 Lakhs.
- HDFC Bank Personal Loan
HDFC Bank offers you one of the top Personal Loan offers with most affordable interest rates, i.e., starting from 11.25%. You can get up Rs. 40 Lakhs as loan amount without any guarantor or collateral security.
The loan repayment time is 12 to 60 months. Once the documentation process is done the loan will be distributed in few hours. You can also avail an accident cover along this loan.
- SBI Xpress Credit Personal Loan
SBI offers the Personal Loans t low interest rates and processing fees. The loans are perfect to meet any of your financial obligation. It is accessible to all self-employed and salaried people.
You can get loans up to Rs. 15 Lakhs and its repayment duration is in 60 months instalments. The interest rates start at 11% as per their website. Documents required for this loan comprise identity proof, bank statement, address proof, and salary certificate. Processing charges are up to 1% of the sanctioned loan amount plus applicable taxes.
- Axis Bank Personal Loan
Axis Bank Personal Loan Interest Rates start at 15.75%. You can get a loan amount of anywhere between Rs. 1 Lakh to 15 Lakhs. These loans can be easily procured and need minimum documentation. The loan can be repaid in easy instalments with a duration of 12 to 60 months. The loan can be obtained by salaried doctors, MNC employees as well as public and private sector personnel. The applicants should be at least 21 years of age and maximum age should be 60.
- Standard Chartered Bank Personal Loan
Standard Charted offers Personal Loans for salaried individuals, self-employed professionals and businesspersons at cost-effective interest rates, i.e., starting at 10.55%. They can be procured without any collateral security and needs very less processing time. You can obtain loans up to Rs. 30 Lakhs and the tenure of the loan varies between 12-60months.
- Kotak Mahindra Personal Loan
Get instant Personal Loans of up to Rs. 15 Lakhs with Kotak Mahindra Personal Loan at interest rates starting from 10.99%. The process can be completed with minimal paperwork. An Indian citizen working with a private or government firm, aged between 21-58 years, and earning minimum Rs. 25,000 per month, is eligible to apply for this loan. Documents required comprise address proof, identity proof, age proof, and signature proof. Loan can be repaid within tenure of 12-60 months.
- Punjab National Bank Personal Loan
Get Punjab National Bank Personal Loan of up to Rs. 10 Lakhs starting at 12.05% interest rate. The bank offers Personal Loans to defense personnel apart from those retiring within 24 hours, workers of government employees, doctors, and salaried professionals. You can repay the loan amount within a tenure of up to 60 months.
These are some of the top banks offering Personal Loans at affordable interest rates. You may consider any one of them depending upon what features are more appropriate for you.