Which Private Banks Offer the Best Personal Loan in 2020?

Be it medical expense, higher education, foreign trip, home renovation, or setting up a new business, a personal loan can be availed to meet all these needs. Although all private and public sector banks offer personal loans at competitive interest rates, some private banks, including ICICI Bank and HDFC Bank, offer the best personal loans with very flexible eligibility criteria. Here is a list of top private banks that best personal loans.

HDFC Bank personal loan

HDFC Bank is the largest private sector bank in India with pan India presence. The bank offers personal loans to help borrowers fulfil their financial needs such as wedding expenses, funds for an emergency, paying off medical expenses or any other payments. With an HDFC Bank personal loan, you can enjoy varying benefits viz flexible tenures, competitive interest rates, pocket-friendly repayments and quick disbursals.

Key features of HDFC bank personal loan are as under

ICICI Bank personal loan

ICICI Bank is one of the largest private sector banks in India. It offers a wide range of banking and financial services in India and abroad. A personal loan is a key product offered by the bank. ICICI personal loan interest rates are one of the lowest ones in the market, starting from as low as 11.25% p.a.

Key features of ICICI Bank personal loan are as under:

A personal loan up to Rs. 20 lakh can be availed from ICICI Bank for various requirements. You can use the ICICI Bank personal loan EMI calculator to find out the EMI proactively.

Axis Bank personal loan

Axis Bank offers a personal loan between Rs. 50,000 to Rs. 15 lakh for 12 months to 60 months. Anyone whose age is as low as 21 years can apply for a personal loan from Axis Bank, and there is no foreclosure or part prepayment charges on the loan.

Axis Bank personal loan key features:

Kotak Mahindra Bank personal loan

Kotak Mahindra Bank provides borrowers with personal loans for various personal needs like wedding, child’s education, home renovation, travailing etc. You can get a personal loan up to Rs. 15 lakhs at attractive interest rates with minimal documentation. Here are the loan amount and interest rate for Kotak Mahindra Bank personal loan:

IndusInd Bank personal loan

IndusInd Bank is one of the premier ‘next-gen’ private sector banks in India. Working professionals, as well as self-employed individuals, can get a personal loan from IndusInd Bank under multiple categories, such as Personal Loans for Medical Expenses, Personal Loan for Education, Personal Loan Balance Transfer, Personal Loan for Wedding, and Personal loan for Home Renovation.

With IndusInd Bank, you can get a personal loan from Rs. 50,000 up to Rs. 25 lakh for a loan tenure ranging from 1 to 5 years. The bank offers free of cost doorstep services.

Key features of IndusInd Bank personal loan

NBFCs that offer the best personal loan

Bajaj Finserv personal loan

Bajaj Finserv is one of the top NBFCs in India that provides a Bajaj Finserv personal loan for several personal requirements. You can avail of a personal loan up to Rs. 25 lakh for a flexible repayment tenure ranging from 12 months to 60 months from Bajaj Finserv.

Here are the key features of Bajaj Finserv personal loan:

Fullerton India personal loan amount

Fullerton India offers collateral-free personal loans for all types of customers to fulfil their financial needs. You can get a personal loan from Rs. 60,000 to Rs. 25 lakh with very flexible eligibility criteria. It offers maximum loan amount for a tenure up to 60 months.

Aditya Birla Finance Limited (ABFL) personal loan

ABFL offers a wide range of financing and wealth management solutions to its customers across the country. A personal loan is one of the key products offered by ABFL for various financial requirements of customers. Salaried individuals can get quick personal loans up to Rs. 15 lakh at attractive rates.

Key features of ABFL personal loan

Note: Interest rates and other charges are subject to periodic changes

Originally published at http://blogs.orgfree.com on January 17, 2020.