Many Non-Banking Financial Companies (NBFCs) in India offer personal loans to those who need urgent cash to meet their personal expenses. The interest rate charged by NBFCs on personal loans are competitive and range between 11.25% and 17.85% p.a.
|NBFC||Interest Rate (p.a.)||Loan Amount|
|Bajaj FinServ||12.99% onwards||Up to Rs.25 lakh|
|Tata Capital||11.25% onwards||Up to Rs.25 lakh|
|Mahindra Finance||-||Up to Rs.3 lakh|
|IIFL Finance||13% onwards||Up to Rs.25 lakh|
|HDB Financial Services||Upto 36%||Up to Rs.20 lakh|
|Shriram City Union Finance||Scheme-based||-|
|Aditya Birla Capital||16.85% to 17.85%||Up to Rs.50 lakh|
|Processing Fees||Penal Interest||Foreclosure Charges||Part-prepayment Charges||Bounce Charges|
|Up to 3.99% of the loan amount||2% of EMI amount per month plus applicable taxes or Rs.200, whichever is higher||4% plus applicable taxes on principal outstanding||2% plus applicable taxes on part-payment amount paid||Rs.600 to Rs.1,200 per bounce|
|Processing Fee||Part Pre-payment Charges||Penal Interest||Foreclosure Charges||Cancellation Charges|
|Up to 2.5% of the loan amount plus GST||2.5% plus applicable GST||3% on overdue amount per month plus GST||4.5% of the principal outstanding at the time of foreclosure plus GST||2% of loan amount or Rs.5,750 plus GST|
|Loan Processing Charges||Penal Charges||Foreclosure Charges||Documentation Charges||Cheque Bounce Charges|
|Up to 2% of the loan amount plus GST||2% compounded monthly||Up to 6%||Nil||Rs.500 per bounce plus GST|
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