Personal Loan

Top Personal Loan Schemes

You can either visit the official website of the bank to directly apply for a personal loan or visit the BankBazaar website to compare different loans and then apply for one which suits you best.

Citibank Personal LoanLow Interest RateInterest rates ranging from 9.99% p.a. to 16.49% p.a.
Loans of up to Rs.30 lakh Tenure of up to 5 years
HDFC Personal LoanSelf-Employed ProfessionalInterest rates (rack interest) ranging between 10.5% p.a. and 21.00% p.a.
Tenure of up to 5 years Loans of up to Rs.40 lakh
Kotak Mahindra Personal LoanQuick Turnaround TimeInterest rates starting at 10.25% p.a. Loans of up to Rs.25 lakh Tenure of up to 5 years
Tata Capital Personal LoanFlexible Interest RatesInterest rates starting at 10.99% p.a. Tenure of up to 6 years Loans of up to Rs.35 lakh
SBI Personal LoanDifferent Income CategoriesInterest rates starting at 9.60% p.a. Loans of up to Rs.20 lakh Tenure of up to 7 years
Personal Loan Interest Rate

The personal loan interest rates vary between 7.90% p.a. and 49% p.a. Depending on the loan amount availed by you, your credit score, and repayment tenure, the interest rate charged on your loan is decided. If you maintain a high credit score and have a good relationship with the bank, then the interest rate on your personal loan can be lowered.

CriteriaSalariedSelf-Employed
Age21 years to 60 years22 years to 55 years
Net Monthly IncomeRs.15,000Rs.25,000
CIBIL ScoreAbove 750Above 750
Minimum Loan AmountRs.50,000Rs.50,000
Maximum Loan AmountRs.25 lakhRs.25 lakh
Personal Loan EMI Calculator

Use BankBazaar Personal loan EMI calculator to calculate your EMI beforehand to plan and manage your finances in a better way. Personal Loan calculator lets you check your loan eligibility and helps you compare loans offered by different banks.

All you need to do is enter the loan details, including your preferred loan amount, interest rate, tenure, and processing fee. Hit “Calculate” to check your EMI. The lowest applicable EMI per lakh for a tenure of 7 years at minimum applicable interest rate is Rs.1,599.

The result is followed by an amortisation table, which will give you a detailed break-up of your repayment schedule.

Documents Required to apply Personal Loan

You must submit a set of documents that lenders require when approving a personal loan application. Here are the details for the documents needed for a personal loan.

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