| Bank | Personal Loan Interest Rates | Processing Fee |
|---|---|---|
| SBI Personal Loan | 12.50% | In the range of 2% to 3% |
| HDFC Bank Personal Loan | 11.25% | Min 0.99%, Max 2.50% Up to Rs. 10,000 |
| ICICI Bank Personal Loan | 11.25% | Starting from 0.99%, Up to 2.25% |
| Bajaj Finserv | 11.99% | Starting from 1.50%, Up to 3% |
| Citibank | 10.99% | Upto 0.5% |
| IDFC Bank | 11.50% | Starting from 0.75%, Up to 2% |
| Axis Bank | 11.25% | 1.50% to 2.00% |
| Tata Capital | 11.75% | Flat fee of Rs. 999*, Upto 2% |
| Fullerton India | 17.25% | Upto 2.00% |
| IndusInd Bank | 11.00% | Min 1% to Max 2.50% |
| Kotak Bank | 11.50% | Upto 2.5% |
| RBL Bank | 13.99% | Upto 2% |
| IIFL | 12.99% | 1 - 2% |
| Capital First | 14.00% | 1.50% |
| HDB Financial | 13.99% | Upto 2% of loan amount |
| Standard Chartered Bank | 10.99% | 1.00% |
| Syndicate Bank | 13.40% | 0.5%, Min Rs. 500 |
| Union Bank of India | 12.70% | 0.5%, Min Rs. 500 |
| Vijaya Bank | 12.50% | 0.25%, Max. Rs. 10000 + ST |
| Yes Bank | 10.75% | Starting at 0.99%, Up to 2% |
| PNB | 12.00% | 1.8% + taxes |
| IDBI Bank | 13.20% | 1% |
| Karur Vysya Bank | 13.90% | 0.40% |
| Indian Overseas Bank | 12.70% | Rs. 204 per lakh |
| Indian Bank | 11.05% | 0.5%, Min- Rs. 508 |
| Allahabad Bank | 13.15% | 1.06%, Min- Rs. 1068 |
| Federal Bank | 11.49% | 0.5%, Min Rs. 500 |
| Dena Bank | 13.00% | 1% |
| Corporation Bank | 12.95% | 1.5%, Min Rs. 500 |
| Canara Bank | 13.00% | 0.50% |
| Bank of Maharashtra | 15.10% | 1%, Min Rs. 1,000 |
| Bank of Baroda | 11.60% | 2%, Min Rs. 250 |
| Andhra Bank | 11.55% | Case to Case |
Personal Loan
Personal loans are unsecured loans available for both salaried and self-employed borrowers to help meet their general personal or private expenses that are urgent and immediate in nature. Unsecured loans are loans without any security that can be availed quickly. The rate of interest on personal loans is higher than that on secured loans. There are multiple personal loan providers in India which offer cheap and quick loans. You need a new loan only if:
| Documents Required | Individuals | Firms, Partnerships |
|---|---|---|
| Signed Application Form | Required | Required |
| Identity Proof | PAN card, Passport, Driving License, Aadhar Card, Voter id, Govt issued i-card | PAN card, Passport, Driving License, Aadhar Card, Voter id, Govt issued i-card |
| Certificate and Proof of Business Existence | PAN , sales tax/ excise/ VAT/ service tax registration, Copy of partnership deed, Trade license, certificate of practice, registration certificate issued by RBI, SEBI | |
| Address Proof | Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill/ bank statement (not more than 3 months old) | Bank statement, utility bill, Registry copy, lease or rent agreement, TAN allotment letter |
| Age Proof | PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate | PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate |
| Income Proof | Last 2 years Form 16, last 6 months salary slip, last 6 months' bank account statement showing salary credit | Last 2 years ITR, last 6 months bank account statement |