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 Loan||Low Interest Rate||Interest 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 Loan||Self-Employed Professional||Interest 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 Loan||Quick Turnaround Time||Interest rates starting at 10.25% p.a. Loans of up to Rs.25 lakh Tenure of up to 5 years|
|Tata Capital Personal Loan||Flexible Interest Rates||Interest rates starting at 10.99% p.a. Tenure of up to 6 years Loans of up to Rs.35 lakh|
|SBI Personal Loan||Different Income Categories||Interest 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.
|Age||21 years to 60 years||22 years to 55 years|
|Net Monthly Income||Rs.15,000||Rs.25,000|
|CIBIL Score||Above 750||Above 750|
|Minimum Loan Amount||Rs.50,000||Rs.50,000|
|Maximum Loan Amount||Rs.25 lakh||Rs.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.