Top 5 Banks for Personal Loans in India

by

1. State Bank of India (SBI)

  • Loan Amount: ₹50,000 to ₹20 lakh

  • Interest Rate: Starting from 9.60% p.a. (variable)

  • Loan Tenure: Up to 7 years

  • Features: Minimal documentation, flexible repayment, and low processing fees. SBI is India’s largest public sector bank with a wide branch network and trusted service.

2. HDFC Bank

  • Loan Amount: ₹50,000 to ₹40 lakh

  • Interest Rate: Starting from 10.50% p.a.

  • Loan Tenure: Up to 5 years

  • Features: Quick online application, pre-approved offers for existing customers, and minimal processing charges. HDFC is known for smooth digital experiences.

3. ICICI Bank

  • Loan Amount: ₹50,000 to ₹20 lakh

  • Interest Rate: Starting from 10.99% p.a.

  • Loan Tenure: Up to 5 years

  • Features: Fast disbursal, flexible EMI options, and good customer support. ICICI Bank is a leading private sector bank with extensive reach.

4. Axis Bank

  • Loan Amount: ₹50,000 to ₹25 lakh

  • Interest Rate: Starting from 10.99% p.a.

  • Loan Tenure: Up to 5 years

  • Features: Instant loan approval on pre-qualified offers, minimal documentation, and digital application process.

5. Punjab National Bank (PNB)

  • Loan Amount: ₹50,000 to ₹20 lakh

  • Interest Rate: Starting from 9.95% p.a.

  • Loan Tenure: Up to 5 years

  • Features: Competitive interest rates, flexible repayment options, and easy documentation process.

Tips to Choose the Best Personal Loan in India

  • Compare interest rates and processing fees.

  • Check eligibility criteria and documentation requirements.

  • Look for banks offering quick approval and disbursal.

  • Consider loan tenure and monthly EMI affordability.

  • Read customer reviews and service quality feedback.

Leave a Comment