Compare Personal Loan among 50+ Lenders - Get The Best Deal

Compare Personal Loans of Banks & NBFCs in 2023

Are you looking for finance to pay your debt, unexpected expenses, or renovation home expenses? Then a personal loan is a right choice. A personal loan is an unsecured loan in which an individual borrows money to fulfill their personal needs. A personal loan is a loan where you do not have to put down collateral to borrow the money. This loan is given by banks and NBFC.

When applying for a loan, compare all Bank and NBFC interest rates, tenure, and other factors at YoIndi. YoIndi is a platform with its help; you can apply for personal loans online when you need the money. If the loan application gets approved, the bank and financial institution will provide you with the funds within 3 seconds. Yoindi, every month gives you information about your credit score, how to improve your credit score, and gives you information about the offer of pre-approval loans.

INTEREST RATE
10.50% per annum onwards
PROCESSING FEES
Up to 2.50%
LOAN AMOUNT
Up to ₹10,00,000
TENURE
12 to 60 months
INTEREST RATE
13% per annum onwards
PROCESSING FEES
Start from 2.5%. to 4.5%
LOAN AMOUNT
Up to ₹5,00,000
TENURE
12 to 36 months
INTEREST RATE
10.99% per annum onwards
PROCESSING FEES
Up to 2.75% of the loan amount
LOAN AMOUNT
Up to ₹25,00,000
TENURE
Up to 6 years
INTEREST RATE
14% per annum onwards
PROCESSING FEES
Up to 3%
LOAN AMOUNT
Up to ₹10,00,000
TENURE
Up to 6 years
INTEREST RATE
12.25% per annum onwards
PROCESSING FEES
Up to Rs 1250
LOAN AMOUNT
Up to ₹4,00,000
TENURE
Upto 2 years
INTEREST RATE
Starting from 2.4% per month
PROCESSING FEES
0 to 15% of the loan amount
LOAN AMOUNT
Up to ₹1,00,000
TENURE
3 to 12 months
INTEREST RATE
11% onwards
PROCESSING FEES
Upto 3% + GST
LOAN AMOUNT
Up to ₹5,00,000
TENURE
Upto 48 months
INTEREST RATE
10.50% per annum onwards
PROCESSING FEES
Up to Rs 3999 +GST
LOAN AMOUNT
Up to ₹10,00,000
TENURE
Up to 5 years
INTEREST RATE
2.50%, 2.40%, 2.25% per month | Upto 30.40% APR
PROCESSING FEES
1.5% - 3% of the loan amount
LOAN AMOUNT
Up to ₹4,00,000
TENURE
90, 180, 270, 360, 540 days
INTEREST RATE
Starting from 24% per annum
PROCESSING FEES
Starting from Rs. 99
LOAN AMOUNT
Up to ₹3,00,000
TENURE
3 - 24 months
INTEREST RATE
15% p.a to 24% p.a
PROCESSING FEES
2% + GST
LOAN AMOUNT
Up to ₹2,00,000
TENURE
6 Months to 60 Months
INTEREST RATE
Starting from 9% per annum
PROCESSING FEES
Up to 2.5% of the loan amount
LOAN AMOUNT
Up to ₹3,00,000
TENURE
3 months to 24 months
INTEREST RATE
1.4%- 2.3% per month onwards
PROCESSING FEES
Up to 2.5% of loan amount
LOAN AMOUNT
Up to ₹2,00,000
TENURE
3 months to 60 months
INTEREST RATE
Starting from 1.33% per month
PROCESSING FEES
2% to 8% of the loan amount
LOAN AMOUNT
Up to ₹5,00,000
TENURE
3 months to 5 years
INTEREST RATE
12.75% to 33.75% p.a
PROCESSING FEES
Up to 2% of the loan amount, Min Rs 750
LOAN AMOUNT
Up to ₹3,00,000
TENURE
Up to 5 years
INTEREST RATE
Starting from 16.50% onwards
PROCESSING FEES
Up to 3.75% of loan amount
LOAN AMOUNT
Up to ₹4,00,000
TENURE
Upto 3 years

Compare Personal Loan Interest Rate in 2023

Lender name Interest rate
Axis Bank 10.49% to 21%
HDFC Bank 10.50% - 21%
Kotak Bank 10.99% onwards
ICICI Bank 10.75% - 19% per annum
Bajaj FinServ 11% onwards
Bank Of Baroda 10.85% to 18.20%
Tata Capital 10.99% onwards
Yes Bank 10.49% - 19% per annum
Bank Of India 8.75% onwards
Central Bank Of India 12.10% onwards
Fullerton India 11.99% onwards
State Bank of India 11% per annum onwards
Standard Chartered Bank 11% per annum onwards
HDBFS 17% per annum onwards
CitiBank 11.49% per annum onwards
IndusInd Bank 10.49% per annum onwards
Union Bank of India 11.40% per annum onwards
Indian Bank 12.40% per annum onwards
Canara Bank 14.95% per annum onwards
United Bank of India 13.45% per annum onwards
Allahabad Bank 9.75% per annum onwards
Dena Bank 10.9% per annum onwards
Bank of Maharashtra 9.50% per annum onwards
Home Credit 24% per annum onwards
Indian Overseas Bank 14.05% per annum onwards
Lender name Interest rate
Axis Bank 10.49% to 21%
HDFC Bank 10.50% - 21%
Kotak Bank 10.99% onwards
ICICI Bank 10.75% - 19% per annum
Bajaj FinServ 11% onwards
Bank Of Baroda 10.85% to 18.20%
Tata Capital 10.99% onwards
Yes Bank 10.49% - 19% per annum
Bank Of India 8.75% onwards
Central Bank Of India 12.10% onwards
Fullerton India 11.99% onwards
State Bank of India 11% per annum onwards
Standard Chartered Bank 11% per annum onwards
HDBFS 17% per annum onwards
CitiBank 11.49% per annum onwards
IndusInd Bank 10.49% per annum onwards
Union Bank of India 11.40% per annum onwards
Indian Bank 12.40% per annum onwards
Canara Bank 14.95% per annum onwards
United Bank of India 13.45% per annum onwards
Allahabad Bank 9.75% per annum onwards
Dena Bank 10.9% per annum onwards
Bank of Maharashtra 9.50% per annum onwards
Home Credit 24% per annum onwards
Indian Overseas Bank 14.05% per annum onwards
Lender Name Per lakh EMI
Axis Bank Rs 2149 per month
HDFC Bank Rs 2149 per month
Kotak Bank Rs 2174 per month
ICICI Bank Rs 2162 per month
Bajaj FinServ Rs 2174 per month
Bank Of Baroda Rs 2167 per month
Tata Capital Rs 2174 per month
Yes Bank Rs 2149 per month
Bank Of India Rs 2064 per month
Central Bank Of India Rs 2230 per annum
Fullerton India Rs 2224 per month
State Bank of India Rs 2174 per month
Standard Chartered Bank Rs 2174 per month
HDBFS Rs 2485 per month
CitiBank Rs 2199 per month
IndusInd Bank Rs 2149 per month
Union Bank of India Rs 2194 per month
Indian Bank Rs 2245 per month
Canara Bank Rs 2376 per month
United Bank of India Rs 2298 per month
Allahabad Bank Rs 2112 per month
Dena Bank Rs 2169 per month
Bank of Maharashtra Rs 2100 per month
Home Credit Rs 2877 per month
Indian Overseas Bank Rs 2329 per month
Lender Name Processing Fees
Axis Bank 2%
HDFC Bank Up to Rs 3999 +GST
Kotak Bank Up to 3%
ICICI Bank Up to 2.5% of loan amount + taxes
Bajaj FinServ Up to 3.93% of loan amount + taxes
Bank Of Baroda Rs 1000 + GST
Tata Capital 2.75% of loan amount + GST
Yes Bank 2% of the loan amount
Bank Of India Rs 1000 + GST
Central Bank Of India 1% of loan amounts
Fullerton India 0 to 6% of loan amounts
State Bank of India Up to 1.50% of loan amounts
Standard Chartered Bank Up to 2.25% on loan amount
HDBFS Up to 3% on loan amount
CitiBank Up to 3% on loan amount
IndusInd Bank Up to 3% on loan amount
Union Bank of India Up to 1% on loan amount
Indian Bank Rs 470 + GST
Canara Bank Up to 1% on loan amount
United Bank of India Up to 1% on loan amount
Allahabad Bank Nill
Dena Bank Up to 1% on loan amount
Bank of Maharashtra Up to 1% on loan amount
Home Credit Up to 5% on loan amount
Indian Overseas Bank 0.40% on loan amount
Lender Name Pre-Payment charges Foreclosure charges Stamp duty charges Loan cancellation charges EMI/Cheque bounce charges Legal charges
Axis Bank 5% + GST -- As per the state stamp Act -- Rs 339 per instance on dishonor cheque --
HDFC Bank Up to 25% of principal outstanding -- As per the state stamp Act -- 2% per month on EMI At Actuals
Kotak Bank Rs 500 + taxes 2% on principal outstanding and for beyond 36 months - 4%charges As per the state stamp Act -- Rs 500 + Taxes --
ICICI Bank 3% + applicable taxes -- -- Rs 3000 + applicable taxes Rs 500 per bounce+ applicable taxes --
Bajaj FinServ 4.72% + applicable taxes 4.72% + applicable taxes As per the state stamp Act -- Rs 600- Rs 1200 per bounce --
Bank Of Baroda 2 to 4 % on the borrowed amount -- -- -- Rs 350 per bounce of cheque Legal fees deducted from processing fees
Tata Capital 2.75% + applicable taxes 4.5% + GST As per the state stamp Act 2% on the loan amount or 5750, which is higher Rs 600 per bounce +GST --
Yes Bank 2% + applicable taxes 4 % of principal outstanding As per the state stamp Act Rs 1000 + Taxes Rs 750 per bounce At actuals
Bank Of India No charges -- -- -- -- --
Central Bank Of India No charges -- -- -- -- --
Fullerton India Up to 7% of the loan amount 0 to 7 %, depending on EMI -- Rs 1000 Rs 300 per cheque --
State Bank of India 3 % on prepaid amount -- -- -- -- --
Standard Chartered Bank Up to 5 % on the principal amount -- -- -- Rs 495 + GST on late payments --
HDBFS -- 4% + GST -- Rs 1000 Rs 750 --
CitiBank Up to 4 % on the principal amount -- As per the state stamp Act -- -- --
IndusInd Bank Up to 4 % on the principal amount -- As per the state stamp Act Rs 1000 Rs 500 per cheque As per Actuals
Union Bank of India Nil -- -- -- -- --
Indian Bank -- -- -- -- -- --
Canara Bank -- -- -- -- -- --
United Bank of India -- -- -- -- -- --
Allahabad Bank 2.25% -- -- -- -- --
Dena Bank -- -- -- -- -- --
Bank of Maharashtra -- -- -- -- -- --
Home Credit -- -- -- -- -- --
Indian Overseas Bank -- -- -- -- -- --

Personal loan interest rates prevailed between 6% to 36%. The amount you pay on personal loans depends on your income, credit score, and debt-income ratios.

1. HDFC bank

Interest rate - 10.50% - 21%
Loan amount - Up to 40 lakhs.
Loan tenure - Flexible tenure upto 5 years.

Charges - You must pay government taxes and levied amounts above and over fees.

Overview - The Housing Development Finance Corporations Limited is the first financial institution in India to get approved by the Reserve Bank of India. In Mumbai, the registered office is situated.

Why HDFC Bank - You get HDFC personal loan with no paperwork, and they assist you in the online process from beginning to end. The processing fees are minimum, and quick loan approval of new customers is too.

Eligibility

  • Employees of public companies, government employees, and private employees.
  • The person whose age lies between 21 to 60 years.
  • The individual has of work experience 2 years and has been working for one year.
  • The person who earns an income minimum of Rs 25,000 per month.

2. Bajaj FinServ Personal Loan

Interest rate - 11% onwards
Loan amount - Up to 35 lakhs.
Loan tenure - Tenure 12 months to 84 months.

Charges - You must pay processing fees of 3.93% on the loan amounts. Additionally, you have to pay bounce charges, stamp duty, annual maintenance charges, and foreclosure charges.

Overview - The Bajaj FinServ headquarter is situated in Pune. It is a non-banking financial service provider. The founder, Mr. Jamnalal Bajaj, believed that the common good is more important than individual gain.

Why Bajaj Finserv Personal loan - It provides you with three loan variants. The loan variant is a term loan, flex term loan, and flex hybrid loan. The loan is approved in 5 minutes if you are eligible. You get money in your account within 24 hours.

Eligibility

  • The age of a person should be between 21 years to 67 years.
  • The CIBL score should be 750 or higher.
  • The salary must be Rs 22,000 or more, depending on the city.
  • The person should work with the public, private, and MNC.

3. ICICI bank personal loan

Interest rate - 10.75% to 19%
Loan amount - Up to Rs 50 lakhs.
Loan tenure - Tenure 12 months to 72 months.

Charges - The loan processing fees are 2.5% on the loan amounts plus taxes. Additionally, you have to pay service charges, bounce charges, and annual percentage rates.

Overview - ICICI Bank is a financial institution. It provides financial services to corporate and retail customers in India. There are 5275 branches in India of ICICI Bank.

Why is ICICI Bank a personal loan?
The salaried person can get a personal loan from ICICI Bank without any collateral security. You can check loan eligibility for pre-approved personal loans through iMobile App or Net Banking. ICICI Bank provides instant personal loans as they provide within 3 seconds.

Eligibility

  • A person's age should be between 23 years to 58 years.
  • The salary must be Rs 30,000.
  • The person should be employed with public, private, and MNC.

4. Axis Bank Personal Loan

Interest rate - 10.49% to 21%
Loan amount - 50,000 to Rs 25 lakhs.
Loan tenure - Tenure 12 months to 60 months.

Charges - The loan prepayment charges 5% + GST on the principal outstanding. Additionally, you must pay swap charges, stamp duty charges, and other charges.

Overview - Axis Bank is the third largest private trusted Bank in india. It has joined with Unit Trust Of India, Life Insurance Corporation Of India, General Insurance Corporation Of India, and National Insurance Company Ltd. It has 4758 branches in India.

Why Axis Bank personal loan?
It provides services 24*7. The Axis Bank Emi starts at Rs 2249 per lakh. The loan amount you get is from Rs 50,000 to Rs 25 lakh.

Eligibility

  • The age of a person should be between 21 years to 60 years.
  • The salary must be Rs 15,000.
  • The person should work at public, private, and MNC companies.

5. Muthoot Finance

Interest rate - 14% - 22%
Loan amount - 50,000 onwards.
Loan tenure - Tenure 12 months to 60 months.

Overview - Muthoot finance was founded in 1939. It is a public company and an India Finance corporation. It falls under the umbrella of Muthoot Group, so it was listed in BSE and NSE in 2011.

Why Muthoot Finance?
In Muthoot finance, you get quickly approved loans with minimum documentation and a reasonable interest rate. Also, you have the flexibility to use the loan amount here.

Eligibility

  • A person's age should be at least 18 years, and a resident of India.
  • When you live in your house, you increase the chance of getting a personal loan.
  • A nice credit score is needed for a personal loan from Muthoot finance.
  • The person should employ with the public sector or other reputed institutions.

6. HDB Financial Services

Interest rate - Up to 30%
Loan amount - Up to 20 lakhs.
Loan tenure - Tenure 12 months to 60 months.

Charges - The processing fees are 3% on the loan amount and 4% on foreclosure charges.

Overview - It is a non-banking financial company. The HDB financial services were incorporated in 2007. HDBFS is accredited with CRISIL AAA and CARE AAA. It provides Lending and BPO services in India.

Why HDB Financial Services?
It provides personal loans to salaried and self-employed persons at low-interest rates to decrease financial burden. The loan application and getting process are simple. You can instantly approve a loan depending on eligibility.

Eligibility

  • A person's salary should be between 21 and 60 years. The professionals and individuals 21 to 65 years.
  • The salary must be Rs 15,000 in other locations. While in metro cities, Rs 20,000.
  • The earning of professionals and individuals should be between Rs 75000 pa and 1,00,000 pa.
  • The person should work with public, private, and MNC companies.
  • The person should be a professional for a minimum of 3 years. Also, an individual is in business for a minimum of two years and a maximum of four years.

When you are selecting a personal loan, there are various options, such as follows:

  • Use of loan
    The lender allows you to use the loan for legal purposes, education purposes, or not. Do not consider that loan option if it does not fulfill your need.
  • Loan amounts
    Check that the lender is offering the loan amount according to your need or not before applying for the loan.
  • Qualification requirements
    Before applying for a personal loan, check what credit score, income, and debt-to-income ratio they need to approve your loan. Based on qualification, apply for personal loans.
  • Interest rate
    Interest rates determine the cost of the loan. If you have a credit score, then a low-interest rate. If you have a low credit score, then more interest rate.
  • Loan fees
    You must pay origination fees, administration fees, lender charges, and prepayment penalties.
  • Time to give a loan
    Some lenders will lend money quickly, while some will take a few business days to disturb the funds. Consider the lender who lends money according to your needs.
  • Customer support
    Check out the customer reviews, whether they are happy with customer services. Because after taking a loan, you might need customer support.
  • Tenure of loans
    Different lenders offer different repayment tenure. The shorter tenure repayment is faster, and you save interest rate, while long tenure is a huge interest rate to pay.
  • Identify proof - The proof can be an Aadhar card, Pan card, Driving license, and voter id.
  • Address proof - Aadhar card, Utility bill (not older than 3 months), property purchase agreement, passport, lease, passport, and driving license.
  • Income proof for salary person - Salaried slip and form 16.
  • Income proof for professional - Income tax filled, balanced sheet, and profile and loss statement.
  • Income proof for a business person - Professional degree, business incorporation certificate, partnership deed, GST registration and filing documents, shop at the license, MOA, and AOA.
  • The age of a person should be between 18 to 60 years.
  • The salary of a person should be at least Rs 15,000 per month.
  • The income of a self-employed person should be at least Rs 5 Lakh per annum.
  • A person's credit score should be at least 750 and above.
  • The salaried person should have work experience of a minimum of 2 years and be working at the same job for more than 1 year.
  • The business person to get a loan should have a minimum of 2 years of establishment.
  • Salaried employees should work with the government, reputed organizations, MNC, public and private limited companies, PSUs, and large enterprises.

FAQs

Bank of India personal loan is the cheapest in the market because it provides the lowest interest rate of 8.75%. You may be able to get a cheaper rate when bank offers special schemes, like for students or farmers.

Axis Bank, HDFC Bank, and Yes Bank Loan is best for personal use as they charge a lower interest rate. The preclosure terms of these banks are simpler as well.

Getting a loan from most banks are easier nowadays, thanks to online processes. You may also use Yoindi to compare and find the best loans for you get an approval in a matter of five minutes.

Yes. An interest rate depends on economic conditions, and 10.75% is good interest to be charged.

No bank provides zero-interest loans. The lowest interest rate Bank of India, is 8.75%.

The customers of HDFC Bank get pre-approved loans in 10 seconds flat. Also, Non- customer HDFC Bank receives a loan in 4 hours.

The lowest personal loan interest in India is 8.75% the Bank of India takes.

You can get a loan in 5 minutes after getting approval from the bank with the help of YoIndi.

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