Apply Personal Loan starting @ 11.49%

Apply Personal Loan Online

Choose from a wide range of Banks/NBFCs for Personal Loan at loanbaba.com

  • Personal loans from Rs. 1 Lakh to 20 Lakhs
  • Personal loan rates from 11.49% - 16.00%
  • Annual Percentage Rate (APR) from 0.96% - 1.33%
  • Loan tenure from 1 Year to 5 Years

Get ready with following documents...

  • 3 Months Salary Slip
  • 6 Months Bank Statement
  • eKYC

* Available For Salaried Individuals Only

What is a Personal Loan?

A personal loan is an unsecured loan, which can be taken by individuals on grounds of certain criteria such as income level, credit score, repayment ability, employment history etc. This loan can be used for any needs and purposes. There are no restrictions about how you use cash loan personal funds that you attain from top lenders on our website.

A major benefit of personal online loans is that these have a short tenure between 1 to 5 years. Loanbaba personal loan is easily obtained online. You can use the personal loan EMI calculator and personal loan eligibility calculator to assess the equated monthly instalment payable over period of time and ability to apply for the loan, respectively.

Why Choose a Personal Loan/What is the Purpose of Personal Loans?

Both salaried and self-employed individuals can apply personal loan online at our website. There is no limit to the number of ways the loan can be put to use. Collateral free personal loans can be taken for any reasons, such as those mentioned below:

  • To buy electronics and gadgets, such as smartphones, iPhone, computer, laptop etc.
  • Monetary support for home repair and renovation.
  • To pay for other debts, credit card bills and soft loans.
  • To spend on vacations, holidays, travel trips.
  • To meet important medical and education needs
  • To arrange funds for wedding expenses and expensive events.
  • Personal loan for business needs such as business operations, activities, equipments, advertisements and others.

Personal loan instant cash is best option to create monetary flow when you are cash strapped. The key reason people want personal loan is because of fast processing times, minimal documentation, flexibility pertaining to use of funds, and the loan amount. If you need personal loan urgent, you can check out, compare, select and apply for funds on our website.

Things to Consider before You apply for a Personal loan
  • Before you apply for a personal loan, plan your budget in a way that you borrow just about the amount you require and utilize it to meet the planned expense.
  • You can compare personal loans and offers on our website. Do note that repayment tenure ranges from 1 to 5 years.
  • Know the annual percentage rate (APR) of loans online how much the loan will cost in interest annually. Personal loan interest rates starts at 11.49% onwards, but it depends on the applicant’s profile and the lender.
  • Check your credit report or CIBIL score for FREE at loanbaba.com. Your credit score will have a say in personal loan approval and offers.
  • For best personal loan online India, you must do a detailed market survey of available personal loan options in regards with prepayment charges, other costs, interest rates, others conditions and terms.
  • There are several lenders that offer unsecured personal loans at zero-penalty prepayment and zero processing fees option. If you do not find a suitable one, you can check for personal loan lowest interest rate or cost.
  • Compare, whether the banks and NBFCs are offering flat interest rate or rates on reducing balance basis. Study about the risks involved when you are unable to repay the loan.
  • Look for customized personal loan quotes at loanbaba.com from multiple banks and NBFCs and pick a suitable plan.
  • Know about essentials of personal loan online conditions, terms in regards to guarantor. Carefully read the offer document before you sign or co-sign the loan.
Benefits, Features and Types of Personal Loan
  • Being an unsecured loan, which means the loan, is offered without requirement of assets as security like house or car etc, the bank/lender/NBFC can ask for a strong credit score and history. You should not have defaulted on an earlier loan. You must have paid the credit card bills on time.
  • Personal loan is given online, and requires only minimal paperwork. At Loanbaba.com the loan process is paperless.
  • Repayment tenure ranges from 1 year to 5 years.
  • Loanbaba.com is where you can get personal loan required urgently as sometimes the loan is approved in as less as 48 hours upon submission of the application.
  • Interest rate for personal loan is decided for the applicant, based on his/her salary, loan amount, tenure and other conditions as specified by the lender, bank or NBFC.
  • Some of the charges applicable on personal loan are: prepayment fees, documentation charges, processing fee (up to 1 percent of the borrowed amount), late payment penalties, and cheque bounce or swap charges.
Types of Personal Loans Offered in India

Types of Personal Loan

Loan Features and Details

Financial Institutions that Offer the Loan

Loans For Unemployed

For those who are unemployed.

Rate of interest is high.

May not include collateral.

Max Finance, loan plans by the government, TATA Capital etc.

Personal Loan for Business Start-up

For start-ups and SMEs.

Nil interest for initial 15 months, after that the average interest rate ranges between 7.9% and 19.9%.

TATA Capital, Oriental Bank, Small Industries Development Bank of India (SIDBI) and India Finance Corporation Of India (IFCI), ICICI Bank, Kotak Mahindra, Bank of Baroda, Standard Chartered etc.

Small Cash Loan or Payday Loan/Same-day Loan

For salaried individuals requiring instant cash urgently.

Loan approval is given within minutes.

Disbursal within 24 hours after loan approval.

Reasonable interest rates.

Loanbaba.com

Low CIBIL Score Personal Loan

Loan for individuals with low CIBIL score or low credit score.

Interest rate is usually high.

It is not always easy to get personal loan on low CIBIL score, but some banks and lenders are ready to negotiate the loan terms and provide you a secured personal loan.

Few banks and NBFC personal loan are approved if you have recently received a good hike in your income.

Small Business Loans for Women

Special loan schemes for women entrepreneurs.

Mahila Udyam Nidhi Scheme by SIDBI, Udyogini Scheme by Punjab & Sind Bank, Dena Shakti Scheme by Dena Bank etc.

Citibank, HDFC, , ICICI, TATA Capital, IndusInd, Kotak Mahindra, Fullerton, Bank of Baroda, Punjab & Sind Bank, IDBI, Dena Bank etc.

Govt. Loans for Small Scale Businesses

For small-scale businesses.

Under government schemes, lower interest rates are charged.

Loan schemes by government include- SIDCO (Small industries development organization, SIDBI, NSIC (National small industries corporation limited), World Association for Small and Medium Enterprises (WASME), National Bank for Agriculture and Rural Development (NABARD)

Bank of Baroda, State Bank of India, Andhra Bank etc.

Loan for Corporate

For existing industrial houses or businesses.

Both unsecured and secured loans provided.

Citibank, HSBC, Kotak Mahindra, IndusInd, HDFC, ICICI, TATA Capital, Standard Chartered, Bank of Baroda, Allahabad Bank, etc.

Marriage Loan

To fund marriage expenses.

Loan amount between Rs. 5 lakhs and Rs. 20 lakhs.

Interest rate from 13.49% to 34%.

Bank of Baroda, HDFC, SBI, PNB, ICICI, Axis Bank, Tata Capital,  Citibank, Kotak Mahindra, IDBI etc.

Medical Loan

To fund medical expenses such as surgery, hospitalization etc.

Loan amount up to Rs. 25 lakhs.

No security or collateral needed.

Arogya Finance TATA Capital, SBI, etc.

Home Improvement Loan

To fund repair, renovation, house furnishing etc.

Fixed interest rate between 9% and 12.5% per annum.

100% cover possible. Some banks cover up to 90 percent of the home improvement cost.

ICICI, HDFC, PNB, Bank of Baroda, DHFL, Canara Bank etc.

Personal Loan Eligibility Requirements

Any Indian national who is self-employed, professional or salaried is eligible for online personal loan apply with lenders and financial institutions. Here are some of the prime eligibility factors for this loan:

  • Age: The individual must qualify with the applicant’s age bracket as determined by the lending institution.
  • Income: The applicant must meet with the lender specified requirement for minimum monthly income so as the lender can analyze the borrower’s repayment capacity.
  • Credit Rating: The applicant must have required credit score and suitable credit history as per the norms set by the bank.
  • Employment: The tentative borrower must have been an employee at current organization or engaged in business for a certain number of years.
  • Existing EMIs: The applicant must not have too many other loan liabilities. He/she should have strong ability to qualify to take additional debts.
Documents Needed for Personal Loan

Here are some of the documents required (as applicable) by salaried and self-employed, professional applicants for personal loan:

  • Identity Proof (any of the following): Voter ID Card, Aadhar Card, Passport, Employer issued ID Card, Electricity Bill, Ration Card, Driver’s License, PAN Card, Life Insurance Premium Receipt, Title deed/utility bill/municipal tax receipt, Mobile/Telephone Bill.
  • Age proof (any of the following): Birth Certificate, Ration Card, PAN Card, Passport, Voter ID, Aadhar Card, Life Insurance Premium Receipt , Secondary school certificate (Class 10).
  • Residence proof: Ownership and Title Deeds of Property, Electricity Bill, Ration Card, Telephone Bills, Government-issued Employee Residence Proof.
  • Photo ID
  • Signed application form with passport sized photographs
  • Salary slips of last three months
  • Form 16 or proof of Income Tax Returns
  • Bank statement of last six months
  • Income tax returns and computation of income of last three years
  • Audited balance sheet and profit & loss account of the last three years, which is certified by a Chartered Accountant
Personal Loan Interest Rates

When you online apply personal loan, comparing interest rate offers is the most important thing to do. The exact rate of interest will differ from one bank/lender/NBFC to the other on the basis on loan tenure, applicant’s profile, income level, loan amount, credit history, credit score and few other factors.

Interest Rate

11.49% onwards

Processing Fees

Differs from one lender/Bank/NFBC to other

Loan Tenure

1 to 5 Years

Pre-closure Charges

Differs from one lender/Bank/NFBC to other

Personal Loans Interest Rates of Top Banks
Bank Loan Amount Personal Loan Interest Rates* Lowest EMI per lakh for Max Tenure

SBI Bank

Rs. 15 Lakhs Max 12.50% - 16.60% Rs. 2,250 for 60 months

HDFC Bank

Rs. 25 Lakhs Max 10.99% - 20.00% Rs. 2,174 for 60 months

ICICI Bank

Rs. 20 Lakhs Max 10.99% - 22.00% Rs. 2,174 for 60 months

Axis Bank

Rs. 15 Lakhs Max 11.25% - 24.00% Rs. 2,187 for 60 months

RBL Bank

Rs. 20 Lakhs Max 13.99% - 16.00% Rs. 2,326 for 60 months

Kotak Bank

Rs. 15 Lakhs Max 11.50% - 24.00% Rs. 2,199 for 60 months

Capital First

Rs. 15 Lakhs Max 12% - 18% Rs. 2,224 for 60 months

Tata Capital

Rs. 20 Lakhs Max 11.99% - 18.00% Rs. 2,224 for 60 months

Bajaj Finserv

Rs. 25 Lakhs Max 11.99% - 15.50% Rs. 2,224 for 60 months

Fullerton India

Rs. 15 Lakhs Max 14.00% - 34.00% Rs. 2,733 for 48 months

Punjab National Bank

Rs. 5 Lakhs Max 12.25% - 15.25% Rs. 2,237 for 60 months
Complete Checklist to Apply for Personal Loan

Personal loan allows you to get sufficient funds to meet any requirement, but here are certain points to keep in mind before you apply for loan online personal funds from lenders and banks.

  • Eligibility: You must check the eligibility criteria as defined by the bank or NBFC with which you wish to apply for instant personal loan online India. You can also choose a lender with whom you qualify for personal loan eligibility.
  • Interest Rates and Other Charges: Know the interest rates and other charges (processing, prepayment and other fees and charges), beforehand so that you can take a well-informed decision.
  • Repayment History: Your credit behaviour tells about your credit worthiness. You must ensure that you have all the documents to prove your credit history and income.
  • Loan Amount and Tenure: Depending on your repayment capacity, income and other factors, your loan amount and tenure is decided. The maximum loan amount by banks and NBFCs offered at loanbaba.com is up to Rs. 20 Lakhs.
  • Documentation: Note the list of documents needed to apply for online personal loan.
  • Loan Processing Tenure: At loanbaba, you get fast processing of all loans. However, it is better to understand how much time the lender takes to process the loan.
  • Foreclosure: Be sure to understand the foreclosure charges and policies as different banks may charge different foreclosure charges.
Top Providers of Personal Loan in India

Today almost every bank, NBFC and lender offers personal loan. Some of the top lenders include HDFC Bank, State Bank of India (SBI) etc. You can look for cash loan apply online at loanbaba.com and compare various lenders and financial institutions to check the loan terms, interest rates, tenures and other features to pick the one you are interested in and satisfy the eligibility criteria.

Personal Loan EMI Calculator

Before applying for personal Loan India, you must use the FREE personal loan EMI calculator at loanbaba.com.

A personal loan EMI Calculator helps you to figure out the following:

  • Understand the right amount to borrow
  • Total interest amount to pay for the loan
  • Most suited loan tenure
  • Most competitive personal loan interest rates as per your profile
Why Choose Loanbaba.com to Help You Find a Personal Loan?

Loanbaba.com is a leading online platform for financial products and personal loans. It is associated with several private sector and public sector banks and NBFCs to offer customized plans for personal loans. You can apply for personal loan online at loanbaba.com and get quick approval for the loan application. We allow you to use the following features for free.

  • Check Eligibility: The personal loan eligibility calculator at loanbaba.com will check your loan eligibility at an instant. This will provide customized quotes as per your eligibility criteria and financial credit history.
  • Compare Banks and NBFCs in Real-time: loanbaba.com offers online personal loan comparison tool, enabling you to compare top banks and NBFCs and their offers.
  • Grab Instant Quotes from Top Lenders: If you are eligible for personal loan, you can get instant quotes customized according to your profile and attain discounted interest rate for the loan scheme.
  • Guaranteed Privacy and Transparency: All personal loan applications with loanbaba.com are sent to the lender/bank/NBFC electronically and there is no risk to your privacy. We do not share any information provided with unconcerned party.
  • E-approval Within No Time: Your personal loan application is instantly approved after judging your eligibility status.
Frequently Asked Questions on Personal Loans
  • add1. How much can you get for a personal loan?

    You can get an amount up to Rs. 20 lakhs as personal loan.

  • add2. How to decide which financial institution or bank to take personal loan from?

    Every bank or financial institution has some terms and conditions, credit score requirements and eligibility criteria for personal loan scheme. The one that satisfies your personal loan needs appropriately and the one whose defined requirements you meet is the best institution to seek the loan from. At loanbaba.com, you can compare, select and apply from multiple banks and NBFC personal loan.

  • add3. Is it wise to always choose the lowest EMI possible when finalizing a loan provider?

    No, you must not always choose the lowest possible EMI when choosing a loan provider, but also look at many other factors, such as your repayment capacity. If you can afford to pay larger EMIs for shorter duration, then you must do so, as the total payout on the loan would then decrease. Also, note the other charges and interest rate before finalizing the loan provider.

  • add4. How do I compare the interest rates of personal loans?

    You can compare personal loan interest rate under one platform at loanbaba.com, which lists the top providers for personal loan. You can also compare other loan features here. Be careful to note if the interest rate is fixed or floating, the APR and other interest rate related factors.

  • add5. How do I get the lowest interest rates on personal loan?

    You can get personal loan lowest interest rate simply by comparing personal loan offers from best banks and NBFCs at loanbaba.com.

    • Some financial institutions consider your credit rating before deciding the interest rate. If you have a good CIBIL score, you can get lower interest rates.
    • At the same time, you must have a good credit history and repayment capacity.
    • If you have good relationship with the bank and lender, it can help in securing lowest interest rate on personal loan.
  • add6. Which are the best banks and NBFCs for a personal loan?

    There are several institutions, which offer personal loan. The best bank or NBFC to provide personal loan would be the one that offers you the loan amount you need at low interest rate and flexible tenure. What is best for you (as per your needs and eligibility criteria), will differ with that for others.

  • add7. What are the benefits of personal loan?

    Here is a list of personal loan benefits:

    • It is unsecured form of loan, which demands no security or collateral
    • Loan amount can be up to Rs. 20 lakhs
    • Applicant can be a salaried individual
    • Loan can be used to meet n-number of purposes
    • Flexible repayment tenure up to 5 years
    • Interest rate starts at 11.49%
    • Multiple banks and NBFCs to choose from
    • Loan terms can be negotiated
  • add8. How do I apply online for an instant personal loan?

    You can apply for instant personal loan at loanbaba.com. Visit here. Provide the asked details, such as name, employment details, loan amount needed etc., and compare top banks and NBFCs for personal loan offers. Apply for paperless loans today at our website. Get immediate loan quotes.

    For help or enquiries, give a missed call on 7668876688, call on toll free number: 18001038024, or drop email at customersupport@loanbaba.com.

Personal Loan by Banks

Personal Loan EMI Calculator

Personal Loan Eligibility Calculator

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