Personal loans are very frequently applied for by individuals as there is no restriction on the end use of the loan. It can be utilized for medical emergencies, travel, organising weddings or renovating a house. There are many banks and Non-Banking Financial Companies that offer personal loans to customers. 

Some of the banks that have great features for personal loans are:

HDFC bank

  • Their interest rates begin at just 10.99% and can go upwards based on the credit profile of an individual
  • They offer flexible tenures of up to 5 years
  • There is an option to check one’s eligibility in under 60 seconds
  • Your personal loan is disbursed in just 10 seconds if you are a pre-approved HDFC Bank customer. If not, it would be disbursed in just under 4 hours
  • You can apply for your loan online instantly

ICICI bank

  • Their personal loans have interest rates that begin at just 10.99% and can go upwards based on the credit profile of an individual
  • They offer flexible tenures of up to 5 years
  • EMI can be automatically repaid every month if one sets up ECS, PDC or auto-debit
  • They ask for minimal documentation that is very easy to submit

IndusInd bank 

  • Their personal loan interest rates begin at just 11% and move upwards based on the credit profile of an individual
  • Tenures range from 1 year to 5 years
  • Personal loan amounts range from Rs.50,000 to Rs.15,00,000 based on the individual’s requirement
  • Funds are disbursed very quickly
  • The application process is very speedy

RBL bank 

  • Their personal loan interest rates begin at 14.5% and move upwards based on the credit profile of an individual
  • Tenures range from 12 months to 5 years
  • Personal loan amounts range from Rs.1 Lakh to Rs.20 Lakhs based on the individual’s requirements. 
  • Documentation is simplified and very quick
  • Apart from banks, there are also NBFCs that offer personal loans such as Tata Capital, Home Credit & Bajaj Finserv. 

To apply for a personal loan, click here