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Top 10 Banks for the Best Online Personal Loans

By Amrita

Online personal loans are more or less like the key to open the door to an abundance of long-awaited dreams. Either it may be an urgency or just a need, a personal loan is fitted almost everywhere. Personal loans are one of the best tools to fight monetary crises. A personal loan is a collateral free loan. One can even apply personal loan online for better convenience. Personal loans are the multipurpose loan. One can use the amount for any personal use such as travelling, shopping, gifting, paying bills, debt consolidation, paying tuition fees and what not. Because of so many features of personal loans, such loans are becoming popular day by day.

 

There are numerous banks and NBFCs which provide personal loans with attractive offers. Finding the best lender for your personal loan is one of the toughest jobs. Today we have come with the top 10 lenders of personal loan. These 10 lenders have gained the maximum popularity in the sector of personal loan.

#1 HDFC BANK

HDFC is renowned for the fastest disbursal of personal loans. Pre-approved HDFC Bank customers can get loan disbursed in 10 just seconds and Other customers can get money in just 4 hours which is an appreciable feature of HDFC bank. One can apply HDFC personal loan amount up to 40 lakhs. With an HDFC personal loan one can enjoy a tenure of as long as 60 months which make the EMI very small. The present interest rate on a personal loan at HBFC bank is 15.75% — 20.00%.

#2 BAJAJ FINSERV

Bajaj Finserv personal loan is best known for its transparency. This bank also offers pre-approved offers. One can apply Bajaj Finserv personal loan using the mobile application or the official website. One can take a maximum loan amount of 25 lakhs and for the tenure of 12 to 60 months.

#3 ICICI BANK- This bank offers personal loan for wedding, holiday and home renovation. The interest rate on a personal loan is as low as 10.99% which is on a daily reducing basis. Easy documentation and faster processing make any needy apply ICICI personal loan as their suitable choice.

#4 TATA CAPITAL

Tata Capital personal loan interest rate starts at 11.49% and the maximum loan amount is 25 lakhs. This is a multipurpose loan and one can apply Tata Capital Personal Loan with a monthly income of Rs. 20,000. The interest on a personal loan varies from 11.49% to 19%. One can take a maximum loan amount of 25 lakhs with Tata Capital.

#5 AXIS BANK

The best feature of Axis Bank personal loan is the zero foreclosure charges. One can prepay the loan without any penalty. The Minimum loan amount is Rs. 50,000 and the Maximum is Rs.15,00,000. You can even enjoy the reward points if you apply Axis bank personal loan.

#6 CAPITAL FIRST

One can apply Capital First personal loan without an income certificate. The highest loan amount which one can avail is 10 lakhs. The interest rate applicable on Capital First personal loans is 13%-24%. One can apply here with a minimum income of 20,000 pm.

#7 CITIBANK

Citi Bank provides personal Loan amount up to Rs.30,00,000 which is fairly dependent on credit score and repayment capacity. One can even enjoy top-up on a Citibank personal loan. The tenure of this loan can be 12 to 60 months.

#8 INDUSIND BANK

Indusind bank personal loans come in five categories namely- Personal Loan for Education, Personal Loan for Medical Expenses, Personal Loan for home renovation, Personal Loan for wedding, Personal Loan for balance transfer. One can take a loan amount from INR 50,000 to INR 15,00,000 for 12 to 60 months. The interest rate on Indusind bank interest rate ranges from 10.75% to 30.50%.

#9 KOTAK MAHINDRA

Kotak Mahindra personal loans are available from Rs.50,000 to 20Lac at the interest rate from 11.25% to 16.99%. There is a provision of zero prepayment charges with Kotak mahindra bank personal loans. One can apply for a personal loan with a minimum income of Rs. 25,000/- & above (listed companies) Rs. 40,000/- & above (non-listed companies). The minimum tenure that one can avail is 12 months and the maximum is 60 months.

#10 STANDARD CHARTERED

One can apply Standard Chartered personal loan online by using the official website of the bank. There are no charges on pre-closure of a personal loan. The loan amount provided by Standard Chartered bank is INR 100,000-INR 15,00,000. The interest rate imposed on a personal loan ranges from 10.99% — 15.50% and the processing fee is Processing Fee — 0.50% to 1.00%.

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