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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

    • Early Salary Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with EARLY SALARY, there rate of interest was nominal, they have given me loan amount up to 17,000 it is just 50% after salary, they have charge me processing fee after approval of loan , there service is average.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 21, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been applied for my credit card from bank bazaar recently there service is too fast like i got my credit card in 3 days only , there is the paperless documents they send me the link and i upload all my documents in that link and even the customer support team was very co-operative.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 21, 2018
    • Early Salary Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have been using my personal loan with EARLY SALARY, there rate of interest was nominal, they have given me loan amount less then my expectation like i expected up to 60,000 to 1,00,000 but i was too low, they have charge me processing fee after approval of loan and i will get my bill in 12th November.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 21, 2018
    • Capital First Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have taken a personal loan with Capital First and my experience was not good, the loan amount which they gave was less and the rate of interest was high when compared to others in the market. Customer support was not up to the mark and no proper follow up was done.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 21, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with the personal loan from the ICICI BANK where i have applied for the loan previously and using it from past few months.ï I am satisfied with the services of this bank because they done the process very quick to get the loan also the rate of interest they have charged was verymuch nominal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 21, 2018
    • IndusInd Bank Personal Loan
      "bad experience"
      0.5 1.0/5 "Really Bad"
      I have been holding my personal loan with INDUSIND bank , there service was not up to the mark, they said when i had applied for loan they said i am eligible for 5,00,000 as loan amount but they have just given me up to 1,00,000 only there customer service is not good they did not kept there words.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 21, 2018
    • Capital First Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My experience with Capital First for personal loan was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good and they followed up on time. Tenure period for this loan was for 3 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 21, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been taken my personal loan with ICICI bank , i have taken this loan from my icici credit card and there service was good , it has been just a couple of month that i have taken this loan and rate of interest they have charge up to 12% and it has been charged nominal, and even processing fee is nominal.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 21, 2018
    • Bank Bazaar Personal Loan
      "Outstand service"
      0.5 5.0/5 "Blown Away!"
      I use bank bazaar service from past 3-4 months, i have applied credit card from this portal and it came successfully without any difficulty and i have downloaded mobile application and i found easy to access i came to know about bank bazaar service by on line .
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 21, 2018
    • Cashe Personal Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      I have been holding my personal loan with Cash E, there customer service was not up to the mark like for my loan i need to follow up and they dont respond well and apart from that rate of interest they have charged up to 13% which is nominal and processing fee they have charged bit high 1000 and it have been 6 months only i have taken this loan and the loan amount was up to 44,000 was sufficient for me.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 21, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I came to know bank bazaar service through on line, as i was checking some financial product and comparing the bank and for first time i have been applied for credit card from bank bazaar service is too good, but i face language barrier........
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 21, 2018
    • Incred Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with INCRED bank, there rate of interest they have charged me was nominal, they have charge processing fee high up to 9000 rupees , the Emi i have been given up to 7800 and tenure period was for 3 years, and the loan amount they have given me is up to 2 lakh it was sufficient for me.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 21, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I have been using bank bazaar website recently , i came to know about bank bazaar service through a mail as i got mail from bank bazaar for credit card application so i have applied for card the service was good even customer support team is supportive and they do time to time follow up with me.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 21, 2018
    • Early Salary Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with Early Salary, there rate of interest they have charged me was up to 14%-15% it was high, they have charge processing fee high up to 24000 or 35000 like they have cut 35000 rupees and they have given me , the Emi i have been given up to 6290 and tenure period was for 2 years, and the loan amount they have given me is up to 1,51,000 it was sufficient for me, they have taken Emi high with interest.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 21, 2018
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 4.0/5 "Great!"
      I came to know about bank bazaar service through promotional advertisement, like i got mail from bank bazaar about credit card and i have applied from there only and there service was good and even i have downloaded mobile application it was use to use.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 21, 2018
    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      The personal loan experience is good with Kotak Mahindra Bank. The process was simple and easy. The tenure period is 3 years and I have completed 2 years. The payment mode is ECS. The rate of interest and charges are little high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 21, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan from HDFC bank from past 3 years, there rate of interest they have charged to me was nominal, and there processing fee they have charge me was up to was nominal, and they have provided good service and the loan amount which they have given us was sufficient.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 21, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service for first time, i have applied my credit card from bank bazaar once i fill all my detail the bank bazaar agent call instantly and help me out which credit card would be best and i did not face any difficulty in getting issue in card or in documentation part.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Nov 21, 2018
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan from HDFC bank from past 3 years, there rate of interest they have charged to me was up to 17% which was fine with me and there processing fee they have charge me was up to 4000 which was nominal i have taken this loan from my credit card only and they have provided good service and the loan amount which they have given us was sufficient.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Nov 21, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service from past 1 year,the service as per my experience was very good as i have applied for credit card through bank bazaar website they provide quick responses they keep on following up with me there customer support team was very good.
      Was this review helpful? 0
      , jaipur
      Reviewed on Nov 21, 2018
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