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  • Top 10 Personal Loan Finance Companies in India is Rated as "Great!" by 94136 Users

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    Top 10 Personal Loan Finance Companies in India

    Personal loans are one of the most popular modes of financing in the world. A personal loan is an unsecured loan that helps one in meeting his or her personal needs conveniently. While personal loans are easily available in the country, one should choose a reliable personal loan lender in order to have a smooth borrowing experience.

    Both banks and non-banking financial corporations (NBFCs) provide personal loans at great interest rates. You can compare different personal loan options offered by various lenders and then take your pick. Keeping the financial condition and requirements of borrowers in mind, lenders have multiple options.

    Uses of Personal Loans

    You can utilise a personal loan for the following reasons:

    • To consolidate your debts and pay off all of them together.
    • To renovate or remodel your home.
    • To buy high-value consumables and electronics goods.
    • To sponsor your travel plans.
    • To pay your credit card bills.
    • To take care of wedding expenses.

    List of Top 10 Personal Loan Lending Companies in India

    Let us now take a look at some of the best personal loan lending companies in the country:

    1. HDFC Bank Personal Loan:

    HDFC Bank is a leading bank that offers numerous banking products at affordable prices. The personal loan product provided by the bank is affordable and attractive.

    Details of HDFC Bank Personal Loan

    Interest rate 14.75% to 20.70% p.a.
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.15,000 net income on a monthly basis For residents of Hyderabad, Chennai, Pune, Ahmedabad, Mumbai, Cochin, Delhi, Kolkata, Bengaluru: Rs.20,000
    Processing fee Up to 2.5% of the loan amount with a minimum of Rs.1,999 and maximum of Rs.25,000
    Loan amount Up to Rs.15 lakh
    Loan tenure 12 to 60 months
    Loan disbursal time 2 days

    The bank has exclusive loan offers for applicants who are women employees. You can also check your personal loan eligibility in 1 minute on the official website of the bank.

    2. SBI Personal Loan

    The bank offers multiple personal loan products at different interest rates.

    1. State Bank of India (SBI) Xpress Credit Personal Loan
    Interest rate 11.85% to 14.70% p.a.
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.5,000
    Loan amount Rs.25,000 to Rs.15 lakh
    Loan tenure Up to 60 months
    1. State Bank of India (SBI) Personal Loan for Pensioners
    Interest rate 12.40% p.a.
    Minimum age requirement -
    Maximum age requirement 76 years
    Minimum income requirement -
    Loan amount Rs.25,000 to Rs.14 lakh
    Loan tenure Up to 84 months
    1. State Bank of India (SBI) Saral Personal Loan
    Interest rate 11.85% to 14.70% p.a.
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.5,000
    Loan amount Rural areas or semi-urban centres: Rs.10,000 to Rs.10 lakh Metro and semi-urban centres: Rs.24,000 to Rs.10 lakh
    Loan tenure Up to 48 months

    3. Punjab National Bank (PNB) Personal Loan

    Interest rate Up to 15% p.a.
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Semi-urban or rural centres: Rs.10,000 Urban centres: Rs.12,500 Metro centres: Rs.15,000
    Loan amount Rs.50,000 to Rs.10 lakh or 20 times the monthly net income
    Loan tenure Up to 60 months

    4. Axis Bank Personal Loan

    Interest rate 15.50% to 24% p.a.
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.15,000
    Loan amount Rs.50,000 to Rs.15 lakh
    Loan tenure 12 to 60 months

    5. Canara Bank Personal Loan

    Canara Bank has 3 kinds of personal loan products and they include:

    1. Canara Bank Consumer Personal Loan
    Interest rate 12.75%
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.12,500
    Loan amount Rs.1 lakh or 15 months of net income or 75% of invoice value, whichever is lesser
    Loan tenure Up to 36 months
    1. Canara Bank Teachers’ Personal Loan
    Interest rate 12.25%
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.10,000
    Loan amount Rs.3 lakh or gross salary for 6 months, whichever is lesser
    Loan tenure Up to 48 months
    1. Canara Bank Budget Personal Loan
    Interest rate 12.60% to 13.60
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.10,000
    Loan amount Rs.3 lakh or gross salary for 6 months, whichever is lesser
    Loan tenure Up to 60 months

    6. Bajaj Finserv Personal Loan

    Bajaj Finserv is a leading NBFC that offers a wide range of financial products. The company provides a great personal loan product that can be utilised for several personal requirements.

    Interest rate 13.99%
    Minimum age requirement 25 years
    Maximum age requirement 58 years
    Minimum income requirement Rs.40,000; Rs.35,000; and Rs.30,000
    Loan amount Up to Rs.25 lakh
    Loan tenure 12 to 60 months
    Loan disbursal time 24 hours

    7. Mahindra Finance Personal Loan

    Mahindra Finance is a prominent NBFC that extends various forms of financing.

    Interest rate Information not provided
    Minimum age requirement 21 years
    Maximum age requirement 58 years
    Minimum income requirement Information not provided
    Loan amount Up to Rs.3 lakh
    Loan tenure Up to 3 years

    8. IDBI Bank Personal Loan

    Interest rate 12.49% to 13.49%
    Minimum age requirement 22 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.15,000
    Loan amount Rs.50,000 to Rs.10 lakh
    Loan tenure 12 to 60 months

    9. Allahabad Bank

    Interest rate 13%
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Rs.15,000
    Loan amount Rs.50,000 to 12 or 24 times of current gross monthly salary
    Loan tenure Up to 60 months

    10. Indian Overseas Bank Personal Loan

    Interest rate 11.65%
    Minimum age requirement 21 years
    Maximum age requirement 60 years
    Minimum income requirement Above Rs.5,000
    Loan amount Up to Rs.5 lakh
    Loan tenure Up to 60 months

    These are some of the prominent personal loan finance companies that provide attractive personal loan options at reasonable interest rates. You do not have to submit any collateral or security for procuring these personal loans.

    Apply for Personal Loan

    Simple Guidelines to Get Your Personal Loan Application Approved

    • Make sure you compare the interest rates, processing fees, pre-payment fees, and other features of various personal loans before you select one.
    • Make sure your credit score is good before you apply for a personal loan.
    • Plan your monthly expenses thoroughly. You can decide your EMI accordingly. You can use an online EMI calculator to get an idea of your loan expenses.

    With proper research, you can choose the most appropriate personal loan as per your preferences and financial requirements.

    Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with them and i had recently started using the services of them. I had been using the website of them and it has been easy in using it. Their customer support also had been good as well where there has been a good response which they had made so far.
      Was this review helpful? 3
      , new delhi
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting this loan has been smooth and easy. The loan amount which they had provided had been less than i expected, but the interest rate with them had been good. There has not been any hassle faced with the services of them. Their customer support and their staff responses also had been good as well.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 17, 2018
    • Axis Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a very good experience i had with this loan and the loan amount which they had provided also had been good as well, but the interest rate had been on the higher end when compared with the market rate. Their customer support also had been responsive as well and there has not been any hassle faced with them so far.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 17, 2018
    • Bank Bazaar Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a good experience i had with Bank Bazaar and i had been using the services of them for the last 4-5 months. I had been using the mobile application as well as the website of them and both had been easy in using it. Their customer support also had been good as well.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 17, 2018
    • Kotak Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The process in getting this loan had taken almost three to four days and the process had been easy. The loan amount which they had provided has been satisfactory and the interest rate also been good as well. There has not been any charges which they had been charged also had been good when compared with the market rate.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a good experience in getting this personal loan and the loan amount which they had provided also had been satisfactory. The interest rate with them has been a little higher when compared with the market rate. There has not been any charges which they had taken on processing and their customer support had been good.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      The experience i had with them has not been satisfactory and the process has been good in getting the loan. There has been some small issues when i was trying to close it before the tenure period where there was no option for a pre closure. The interest rate has been quite nominal with them and the loan amount was okay.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • review Personal Loan
      "Good finacial service with high rate of intrest "
      0.5 4.0/5 "Great!"
      I have taken personal loan from Bajaj fin serv , Am not satisfied with the rate of interest of 19%which is high. Where there is processing fees of Rs 8000 They took time for approval and documentation. Their customer executive explained the term and condition before taking the loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 16, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been using the Bank Bazaar services for a while. It was good, I am using the mobile application it is really easy uses. Customer support is good , they helped me very well throughout the process . This was my first experience with bank bazaar and it is too good .
      Was this review helpful? 1
      , lucknow
      Reviewed on Sep 16, 2018
    • IndusInd Bank Personal Loan
      "good "
      0.5 2.0/5 "Expected more"
      I got my personal loan through INDUSIND BANK , the loan process was too slow and even initially they said everything will be online but they personally visit to check the documents , it took 25days to receive the loan . They provide 300000 of loan and it is sufficient , there is no processing fee with this bank .
      Was this review helpful? 1
      , lucknow
      Reviewed on Sep 16, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using BANK BAZAAR services for while , i came to know about this service through online . The customer support follow up was also good during the application. Bank Bazaar makes it easier to compare and choose various banking products online. .
      Was this review helpful? 3
      , mumbai
      Reviewed on Sep 16, 2018
    • Incred Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have take my personal loan with INCRED INSTITUTION , the tenure period is 36 months and rate of interest is too high 28% so i am not happy with that . I did not face issue at the time of getting loan . The processing fee is 5000 and loan amount is 110000 and it is sufficient to me .
      Was this review helpful? 2
      , mumbai
      Reviewed on Sep 16, 2018
    • Bank Bazaar Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      I have been using the Bank Bazaar services for a while. For the first time i have taken i have taken financial product through bank bazaar . The best part is the process of getting loan was to quick . Bank bazaar needs to filter the list suggested to the customers based on the requirements as per customer needs.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 16, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with HDFC BANK , the processing fee is 8000 and it is too high , there is no preclosere option with this bank . Rate of interest is 17.5% and it is not nominal in the market . Customer support and their response is good , i got my loan soon , there is no issue with this bank .
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 16, 2018
    • Bank Bazaar Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have been using the Bank Bazaar services for a while. The best part is customer support there peoples are very cooperative , i receive too many calls from them just to get my work done , they are very helpful . Mobile application and website were easy to use and very user friendly .
      Was this review helpful? 1
      , kolkata
      Reviewed on Sep 16, 2018
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My personal loan was taken with ICICI BANK , i have bitter experience with this bank , the customer support attitude not good with this bank . Initially they said 12.9% of interest rate but later they charge 14% so it is very disappointing part . Loan amount is 1.5 lakh and it is sufficient to me .
      Was this review helpful? 1
      , kolkata
      Reviewed on Sep 16, 2018
    • review Personal Loan
      "EXCELLENT"
      0.5 4.5/5 "Excellent!"
      My personal loan was taken with BAJAJ FINANCE , the tenure period is 3year . Customer support is good they respond on time and the process of getting loan is very smooth and quick , i did not face any issues at the time of documentation . Loan amount is 60000 and it is sufficient to me .
      Was this review helpful? 1
      , nellore
      Reviewed on Sep 16, 2018
    • Bank Bazaar Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have been using BANK BAZAAR for many months . The best part of this website is their representative is good and attentive , everything was explain step by step and clearly , and even their follow up is outstanding . I came to know about this website through advertisement .
      Was this review helpful? 1
      , nellore
      Reviewed on Sep 16, 2018
    • Fullerton Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with FULLETRON INSTITUTION , i am happy with this bank , they provide within 15 days my loan amount . They charge 11% of interest rate and tenure period is 3year . They provide 120000 of loan but i got 99000 after deducting . I use to pay 5500 of EMI.
      Was this review helpful? 0
      , nellore
      Reviewed on Sep 16, 2018
    • Bank Bazaar Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      I've been using the Bank Bazaar services for a while. I have applied for a personal loan via Bank bazaar. The customer support follow up was also good during the application. Bank Bazaar makes it easier to compare and choose various banking products online.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 16, 2018
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