Top 10 Personal Loan Providers in India 2025
Personal loans are one of the most commonly used financial products in India due to their flexibility and ease of access. Whether it’s for consolidating debt, funding a wedding, financing home renovations, or paying for medical expenses, personal loans offer an immediate solution without requiring collateral. With multiple banks and non-banking financial companies (NBFCs) offering these loans, it’s crucial to know which institutions provide the best terms, interest rates, and repayment options.
In this article, we’ll explore the top 10 banks in India that offer personal loans in 2025, detailing their interest rates, eligibility criteria, loan amounts, and other important features that will help you choose the best option for your financial needs.
1. State Bank of India (SBI)
State Bank of India (SBI) is India’s largest public sector bank and one of the most popular choices for personal loans. It offers competitive interest rates and a variety of flexible repayment options.
- Interest Rates: 10.50% to 15.25%
- Loan Amount: ₹24,000 to ₹20 Lakhs (depending on the applicant’s profile)
- Loan Tenure: 6 months to 6 years
- Processing Fee: Up to ₹1,000 (excluding GST)
- Eligibility Criteria:
- Applicants must be Indian citizens between the ages of 21 and 58.
- A steady income source is required, either from salaried employment or self-employment.
- A good credit score (usually above 750) is preferred.
Advantages:
- Easy documentation and faster processing.
- Offers concessional rates for existing customers with good banking relationships.
- Wide availability across the country.
2. HDFC Bank
HDFC Bank is one of India’s leading private sector banks offering personal loans with attractive features. It is known for its customer service and quick loan disbursal.
- Interest Rates: 10.50% to 20.00%
- Loan Amount: ₹50,000 to ₹40 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: 1% of the loan amount (plus taxes)
- Eligibility Criteria:
- Salaried employees, self-employed individuals, and pensioners are eligible to apply.
- Applicants should be between 21 to 60 years of age.
- A minimum monthly income requirement varies based on the loan amount and location.
Advantages:
- Instant approval for eligible applicants.
- No collateral or security required.
- Online application process for added convenience.
3. ICICI Bank
ICICI Bank offers some of the best personal loan products with competitive interest rates, flexible terms, and fast disbursals.
- Interest Rates: 10.75% to 19.00%
- Loan Amount: ₹50,000 to ₹25 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: 1% of the loan amount (plus taxes)
- Eligibility Criteria:
- Applicants should be between 23 and 58 years of age.
- A minimum monthly income requirement of ₹20,000 for salaried employees.
- A good credit score (750+) is typically required.
Advantages:
- Flexible EMI options.
- No need for collateral.
- Instant disbursement and online application available.
- Offers loan top-up and prepayment facilities.
4. Axis Bank
Axis Bank is one of the leading private-sector banks in India, known for its efficient customer service and competitive personal loan offerings.
- Interest Rates: 10.99% to 18.00%
- Loan Amount: ₹50,000 to ₹15 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: 1.5% of the loan amount (plus taxes)
- Eligibility Criteria:
- Applicants must be between 21 and 60 years of age.
- Minimum monthly income requirement: ₹15,000 for salaried individuals.
- A CIBIL score of 750 and above is preferred.
Advantages:
- Quick loan disbursal with minimal documentation.
- Special rates for Axis Bank account holders.
- No collateral required for loan amounts up to ₹15 Lakhs.
5. Bajaj Finserv
Bajaj Finserv is a prominent NBFC in India offering personal loans with flexible repayment terms and low-interest rates. It is one of the best options for those looking for quick approval.
- Interest Rates: 12.99% to 19.99%
- Loan Amount: ₹1 Lakhs to ₹25 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: 2% of the loan amount (plus taxes)
- Eligibility Criteria:
- Applicants must be Indian citizens aged 23 to 55 years.
- Minimum monthly income requirement is ₹20,000 for salaried employees.
- A CIBIL score of 750+ is preferred.
Advantages:
- Quick loan approval and disbursal (within 24 hours in some cases).
- Flexible loan repayment options.
- Prepayment and part-payment facilities.
6. Kotak Mahindra Bank
Kotak Mahindra Bank offers personal loans with competitive interest rates and quick approval, making it a popular choice among individuals looking for a reliable lender.
- Interest Rates: 10.99% to 18.00%
- Loan Amount: ₹50,000 to ₹20 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: 1% of the loan amount (plus taxes)
- Eligibility Criteria:
- Applicants must be between 21 and 58 years of age.
- A minimum monthly income requirement is ₹15,000.
- A good credit score (750+) is required.
Advantages:
- Low interest rates for individuals with high credit scores.
- No need for collateral for loans up to ₹15 Lakhs.
- Easy online application process.
7. Punjab National Bank (PNB)
Punjab National Bank (PNB) is one of India’s oldest and most trusted public sector banks, offering personal loans with affordable interest rates.
- Interest Rates: 10.95% to 14.95%
- Loan Amount: ₹50,000 to ₹20 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: Up to ₹1,000 (plus taxes)
- Eligibility Criteria:
- Applicants must be Indian residents between 21 and 60 years of age.
- A minimum income of ₹18,000 per month is required.
- A good credit score is essential for loan approval.
Advantages:
- Offers personal loans at competitive rates.
- No collateral required for loans up to ₹5 Lakhs.
- Minimal documentation required for existing PNB customers.
8. IDFC FIRST Bank
IDFC FIRST Bank provides personal loans with flexible EMI options, making it an attractive option for salaried individuals looking for lower rates and flexible repayment terms.
- Interest Rates: 10.49% to 19.00%
- Loan Amount: ₹50,000 to ₹25 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: Up to 2% of the loan amount (plus taxes)
- Eligibility Criteria:
- Applicants must be between 21 and 60 years of age.
- A good credit score of 750+ is preferred.
- The applicant must be a salaried individual with a stable income.
Advantages:
- Competitive interest rates.
- Loan disbursement in 24 hours.
- Quick and easy online application process.
9. Fullerton India
Fullerton India offers personal loans at competitive rates with flexible loan tenures and instant approval. This is an excellent option for individuals who need a loan urgently.
- Interest Rates: 11.99% to 24.00%
- Loan Amount: ₹50,000 to ₹25 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: 2.5% of the loan amount (plus taxes)
- Eligibility Criteria:
- Applicants must be between 21 and 58 years of age.
- A CIBIL score of 700 or above is preferred.
- A minimum monthly income requirement of ₹20,000.
Advantages:
- Quick loan approval and disbursal.
- No collateral required for loans up to ₹20 Lakhs.
- Simple and straightforward documentation process.
10. Tata Capital
Tata Capital offers personal loans with flexible repayment options and competitive interest rates. It is known for its quick and hassle-free loan approval process.
- Interest Rates: 10.99% to 21.00%
- Loan Amount: ₹50,000 to ₹25 Lakhs
- Loan Tenure: 12 months to 60 months
- Processing Fee: Up to 2.5% of the loan amount (plus taxes)
- Eligibility Criteria:
- Applicants should be between 21 and 58 years of age.
- A good credit score of 750+ is preferred.
- Minimum monthly income requirement: ₹18,000.
Advantages:
- Quick loan approval process.
- No prepayment charges for part payments.
- Special offers for existing customers.
Conclusion
In 2025, personal loans continue to be an essential financial tool for individuals looking to meet urgent or planned financial needs. Banks and NBFCs across India provide a range of loan options with varying interest rates, loan amounts, and eligibility criteria. The top 10 banks listed above offer competitive rates and flexible repayment options, ensuring that there is a loan product suitable for every borrower.
Before applying for a personal loan, it’s important to compare the terms and conditions of different lenders, assess your eligibility, and understand the repayment terms. A personal loan can provide financial relief, but it is crucial to borrow responsibly and ensure that you can meet the repayment obligations on time. Always read the fine print and ensure that you choose a loan that suits your needs, budget, and financial situation.
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