Top 10 Personal Loan Finance Companies in India

Personal loan is an unsecured loan that helps one in meeting his or her personal needs conveniently. Both banks and non-banking financial corporations (NBFCs) provide personal loans at great interest rates.

The loan amount offered by banks in India ranges between 10.5% and 21% and tenure offered between 1 year and 5 years. In india there are many banks who provide loans to individuals.

List of Top 10 Personal Loan Lending Companies in India

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 rate10.50% p.a. to 21.00% p.a.
Minimum age21 years
Maximum age60 years
Minimum incomeRs.15,000 net monthly income.
(Rs.20,000 for residents of Hyderabad, Chennai, Pune, Ahmedabad, Mumbai, Cochin, Delhi, Kolkata, Bengaluru)
Processing feeUp to 2.5% of the loan amount (minimum of Rs.1,999 and maximum of Rs.25,000)
Loan amountUp to Rs.15 lakh
Loan tenure12 to 60 months
Loan disbursal time2 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.

A. SBI Xpress Credit Personal Loan

Interest rate10.60% onwards
Minimum age21 years
Maximum age60 years
Minimum incomeRs.15,000
Loan amountRs.25,000 to Rs.20 lakh
Loan tenureUp to 60 months

B. SBI Personal Loan for Pensioners

Interest rate9.75% p.a. – 10.25% p.a.
Minimum age21 Years
Maximum age76 years
Minimum income
Loan amountRs.25,000 to Rs.14 lakh
Loan tenureUp to 84 months

3. PNB Personal Loan

Interest rate8.7% p.a. to 14.25% p.a.
Minimum age21 years
Maximum age60 years
Minimum incomeAs per the conditions set by the bank
Loan amountRs.50,000 to Rs.10 lakh or 20 times the monthly net income
Loan tenure15 times the gross monthly salary up to a maximum of Rs.10 lakh

4. Axis Bank Personal Loan

Interest rate12% p.a. to 21% p.a.
Minimum age21 years
Maximum age60 years
Minimum incomeRs.15,000
Loan amountUp to Rs.50,000 to Rs.15 lakh
Loan tenure12 to 60 months

5. Canara Bank Personal Loan

Canara Bank personal loan products and loan detail include:

A. Canara Bank Teachers’ Personal Loan

Interest rate12.40% p.a.
Minimum age21 years
Maximum age60 years
Minimum incomeRs.10,000
Loan amountRs.3 lakh or gross salary for 10 months, whichever is lesser
Loan tenureUp to 48 months

B. Canara Bank Budget Personal Loan

Interest rate11.30% p.a. to 12.30% p.a.
Minimum ageAt the discretion of the bank
Maximum ageAt the discretion of the bank
Minimum incomeContact the bank for more information
Loan amountRs.3 lakh or gross salary for 6 months, whichever is lesser
Loan tenureUp to 60 months

6. Mahindra Finance Personal Loan

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

Interest rateUp to 26% p.a.
Minimum age21 years
Maximum age58 years
Minimum incomeInformation not provided
Loan amountUp to Rs.3 lakh
Loan tenureUp to 3 years

7. IDBI Bank Personal Loan

Interest rate8.15% – 10.90% p.a.
Minimum age21 years
Maximum age60 years
Minimum incomeRs.15,000
Loan amountRs.25,000 to Rs.5 lakh
Loan tenure12 to 60 months

8. Indian Overseas Bank Personal Loan

Interest rate10.80% p.a.
Minimum age21 years
Maximum age60 years
Minimum incomeAbove Rs.5,000
Loan amountUp to Rs.5 lakh
Loan tenureUp 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.

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