A personal loan has a lot of advantages. It can help you provide immediate finance for your wedding, vacation, education, purchase of gadgets, home appliances, medical emergency, etc. As it is an unsecured loan, getting a personal loan with lower interest rate is a challenging task. However, with the good eligibility criteria, you are very likely to get a personal loan with low interest rate.

You can get the best personal loan with the good credit score, higher income and employment with a reputed company. A credit score of 750 and above is considered a good credit score. If you have a good score, it is highly likely that you will secure a loan at low interest rate.

If your employer is listed by the bank and you have a lucrative income, it is very much possible that you will get a higher loan amount at lower interest rate from any bank. Following are some the top bank’s personal loan features.

HDFC Bank:

Loan amount: Up to 40 Lakhs

Interest rate: 11.25% onwards

Tenure: 5 years

EMI: Starts from Rs.2187 per lac

Processing fee: 2.50% + GST 18%


Interest rate: 10.99% onwards

Tenure: 5 years

Minimum Income: Rs.17,500

Pre-closure charges: 5% + GST 18%


Interest rate: 11.05% onwards

Tenure: 5 years

Minimum Income: Rs.5000

Processing fees: 1% +GST 18%

Pre-closure charges: 3% + GST 18%

Yes Bank:

Loan amount: Up to Rs.20 Lakhs

Interest rate: 10.75% onwards

Tenure: 5 years

EMI: Rs.2162 per lac

Before applying for a personal loan with banks and NBFCs, you need to check the eligibility for the personal loan. This can help avoid a potential rejection which could have an adverse impact on your credit score.