Why BankBazaar Personal Loan?
  • Compare multiple bank offers
  • Apply Online for Lowest Rates
  • Get up to Rs.10,000 referral bonus
BankBazaar User Rating
 
3.0/5 from over 3450 users
Customer Testimonials
"BankBazaar has been very helpful in the whole process and I applaud your service for the same in getting the loan . I have become a fan of your site and will be using it more often in future and also refer others regarding your site ."
Krishna Macharyulu, Mumbai
Choose Loan Offers From

Compare Personal Loans

Compare & Apply online for low personal loan rates from HDFC Bank and Fullerton India.

Get the best Personal Loan deals

BankBazaar.com is a completely neutral marketplace and will never promote one lender over another & will always show you the best deals.

Need for Personal Loans

Personal Loans can be taken for marriages, holidays or any other purpose to meet an urgent cash need.
Secure & Safe
Home > Loans > Personal Loans

personal loan

salaried self employed

Compare Personal Loan Offers. Apply Online and Save Thousands of Rupees.

We've identified the lowest interest rate quotes for your profile with great savings.

Rates & special offers displayed below are accurate & applicable ONLY for applications made on BankBazaar.com

  • Some fields are incorrect or have not been filled in. Please correct this to proceed.
  •       Self Employed?
    Slowly start typing your employer's name and choose from the recommendations provided. If you do not see your employer on our list, simply type the name in this field.
  • This is your net monthly salary as credited to your bank account after all deductions.
  • Please provide First Name as it appears in your PAN card.
  • loading..
Step 1 of 3

Personal Loan Overview

Compare personal loans offers in India & apply online at BankBazaar.com to meet your urgent cash needs for any purpose.

To fulfill our financial aspirations or to meet urgent cash needs a personal loan is the best option. Be it wedding preparations, international holidays or buying jewelry for your spouse, personal loans can help you achieve all these instantly. Check your Eligibility Now!

BankBazaar.com helps you find the right personal loan deals in India. We work with major banks & financial institutes in India like HDFC Bank, ICICI Bank & Fullerton India who offer great personal loan deals at low interest rates with fast & simple online approval process.

Why Apply for a Personal Loan on BankBazaar.com?
  • Lowest interest rates: We have coordinated with HDFC Bank, ICICI Bank & Fullerton to get you the lowest personal loan interest rates.
  • Instant Quotes: Get quotes customized to your profile online instantly by filling in the form above.
  • Simple Online Comparison: Compare personal loan offers on the basis of interest rate, EMI, processing fees & customer satisfaction.
  • Transparency: Aimed at helping you make the right choice, we provide objective and transparent information about your loan options.
  • Privacy: Your application is sent only to the lender you choose, and is never shared with anyone else.
  • Trust: HDFC Bank and ICICI Bank India's leading private sector banks, uses BankBazaar.com-powered technology to give their customers the best loan experience on their websites, www.hdfcbanksmartapply.com and https://loans.icicibank.com/personal-loan.html
How to get a personal loan on BankBazaar.com
  • Eligibility Calculator: Fill the form above to check your loan eligibility instantly.
  • Compare personal loan offers: Compare customized offers from HDFC Bank and Fullerton India based on your eligibility criteria and apply online for the one you like.
  • Your application will be sent electronically to the lender you chose. The lender will contact you within one day.
  • BankBazaar.com will update you on your loan application status via email & SMS alerts.
Benefits of Personal Loans:
  • Loan can be taken for tenures of up to 5 years.
  • No security or collateral is required.
  • Loan amount can vary from Rs. 50,000 up to Rs. 15,00,000.
  • Minimal documentation and quick approvals.
  • Repayment through easy EMI’s.
Important Facts to Know about Personal Loans
  • Take a loan only when you cannot borrow from friends & family.
  • Always compare loan offers from various banks.
  • Check your eligibility, compare interest rates, processing fees, prepayment charges & calculate EMI before signing the loan agreement.
  • Make sure you don’t default on your payments which can impact your CIBIL credit score. A high CIBIL credit score will help you get quick approvals for personal loan, home loan or car loan. A low CIBIL credit score will result in immediate loan rejection.

Personal Loan FAQs

  1. What are the interest rates for personal loans?
    Each bank will have different interest rates. Interest rates will also vary depending on the individual’s profile. Typically interest rates vary from 14.25% to 28%.

  2. How much money am I eligible for?
    You can borrow as much as you can repay comfortably. This in banking terms would mean a personal loan that has an EMI that does not exceed 40% of your monthly take home income, once the EMIs for existing loans have been deducted.

    For self-employed applicants, profit is the benchmark that determines loan value.
    Opting for a long tenure will lower the EMI, and therefore will enable you to be eligible for a larger loan amount.
    The loan amount you are eligible for is also dependent on other factors like the company you are employed with, the location of your residence and your credit history.

  3. Can I have a co-applicant for a Personal loan?
    Yes, you can opt for a co-applicant. To do so, please submit your application on BankBazaar.com, and inform the bank’s sales manager contacts that you wish to add a co-applicant. This can help you increase the loan amount you are eligible for as the income of the co-applicant is also taken into consideration.

  4. What is credit history? How does a financial institution check on my credit history?
    A credit history is a record of your past repayments of loans and credit card bills. Credit Bureau of India Limited (CIBIL) maintains this credit history, by compiling data from all the banks on existing loans and the repayment history of their customers. Before approving your loan a financial institution always checks with CIBIL on your loan repayment track record.

  5. How can I compare quotes from multiple banks?
    Complete the short form above to find best personal loan offers that you are eligible for. Compare these personal loan offers basis EMIs, interest rates, processing fees, prepayment charge and customer ratings and apply to the lender of your choice.

  6. What does prepayment charge mean? Does it matter while comparing loans?
    A personal loan is repaid to the lender within a fixed time frame, which is usually 1 to 5 years. In case you want to clear the loan payment earlier than the agreed time frame, the bank levies a prepayment penalty charge. This could be up to 5% of the outstanding loan amount but can vary according to the bank and the credit profile of the borrower. Make sure the interest saved by pre-paying exceeds the prepayment fee paid. This is one of the factors to keep in mind while comparing loans.

  7. What is the difference between a fixed interest rate and floating interest rate?
    A fixed interest rate remains constant throughout the loan tenure regardless of the market conditions whereas a floating interest rate can decrease or increase depending on market fluctuations. Most personal loans are offered at a fixed interest rate.

  8. Does BankBazaar.com charge me for its services?
    No. BankBazaar.com’s services come to you free of charge.

  9. How will the security and privacy of my data be ensured?
    BankBazaar.com will never share your data with any third party other than the financial institution that you decide to apply to. Our sound technology practices ensure a highly secure environment for all your data.

Personal Loan Eligibility & Documentation

Personal Loan Eligibility: You are eligible for a personal loan if you are:
  • Salaried individual
  • Self employed individual
  • Self employed professional like doctor, lawyer, etc.
  • Aged above 18 years
  • Have a good CIBIL credit score
  • Good repayment capacity with fixed & stable income source
  • Work for a stable company
  • Try our Personal Loan eligibility Calculator to check on the loan amount you are eligible for.

Personal Loan documentation's: personal loan documentation process is minimal. Generally banks require the following documentation:
  • Identity proof (PAN card, Passport, etc.)
  • 3 to 6 months bank statement (if salaried then bank statement of your salary account)
  • Residence proof (rent agreement, property document, ration card, etc.)
  • Salary Slips
  • In case of self-employed applicants, banks require balance sheets, profit & loss accounts, partnership deeds & other documents etc.

Personal Loan Interest RatesUpdated on 25 May 2013

Details of Personal Loan

Personal Loan Interest Rate.(Monthly reducing balance)
14.25% to 49% fixed. Check Customized Interest Rates Now!
Processing Fees
1% to 5% of loan amount
Personal Loan Tenure
1 year to 5 years
Personal Loan Amount
Rs. 1 lakh to Rs. 20 lakhs
Pre-closure Charges
Up to 5% of pre-closed amount
Guarantor Requirement
No guarantor required

Personal Loan Articles

  • Pointers for your personal loan!
    Evaluate all loan offers. The first condition for loan offer selection is the total money outflow that the loan will cost. The second factor is the EMI. A loan offer with a lower EMI and a longer tenure may seem attractive, as it could be easy on your purse strings, however not all such loans prove to be cost effective in the long run.
  • Alternatives to a personal loan!
    Whenever people have a requirement for some urgent cash and cannot come up with the amount needed with the resources they have, they inadvertently apply for a loan from a bank. Getting a loan today has become very easy, what with the stiff competition prevalent among different banks.
  • A personal loan? Think twice!
    Personal loans are the one of the most widely chosen options, in case you are in a spot and need some urgent cash. However, personal loans are tricky and you need to know as much as possible about their basics before applying for one. Let’s start with some common questions.
  • Have more questions on loans? Ask us now!
    GATEWAY_PL_ARTICLE5_SUMMARY

Personal Loan Forum

Personal Loan Comparisons

Comments: 0    Views: 11     May 22

How to Get Best Personal Loan ?

Comments: 2    Views: 71     May 17

when can i apply for a personal loan

Comments: 2    Views: 21     May 20

Personal Loan Comparisons

Comments: 0    Views: 21     May 22