Loanbazaar brings personal loan offers from 30+ banks and NBFCs to cater to diverse consumer segments. This allows consumers to compare the key loan features offered by top lenders and then, apply for the best option available on their credit profiles. We have also entered into special partnerships with several banks and NBFCs to offer pre-approved/pre-qualified personal loans with end-to-end digital processing and instant disbursal.
Updated: 02-01-2023 12:48:25 PM
| Personal Loan Highlights | |
| Interest Rate | 10.49% p.a. onwards (through Loanbazaar.com) |
| Loan Amount | Can go up to Rs 40 lakh; some lenders may offer higher loan amounts |
| Tenure | Up to 5 years (some lenders offer repayment period till 7 years) |
| Processing Fees | 0.5% to 4% of loan amount (may vary across lenders) |
Currently, personal loan interest rates offered through Loanbazaar.com starts at 10.49% p.a. Some public sector banks may offer personal loans at lower interest rates. The final personal loan interest rate offered by banks and NBFCs will depend on several factors, such as the desired loan amount, credit score, income, etc.
| Lenders | Interest Rate (p.a.) |
| State Bank of India | 10.90%-15.40% |
| HDFC Bank | 11.00% onwards |
| Punjab National Bank | 10.15%-16.70% |
| ICICI Bank | 10.75% onwards |
| Bank of Baroda | 10.60%-17.95% |
| Union Bank of India | 11.15%-15.25% |
| Axis Bank | 10.49% onwards |
| Bank of India | 10.10%-14.60% |
| Indian Bank | 9.75%-14.75% |
| Kotak Mahindra Bank | 10.99% onwards |
| Central Bank of India | 10.70%-12.30% |
| IndusInd Bank | 10.49% onwards |
| IDBI Bank | 11.00%-15.50% |
| Indian Overseas Bank | 11.90%-12.90% |
| Yes Bank | 10.99% onwards |
| UCO Bank | 12.30%-12.70% |
| Federal Bank | 10.49%-17.99% |
| Bank of Maharashtra | 9.25%-15.05% |
| IDFC FIRST Bank | 10.49% onwards |
| Bajaj Finserv | 11.00% onwards |
| RBL Bank | 17.50%-26.00% |
| Muthoot Finance | 14.00%-22.00% |
| Citibank | 10.75%-16.49% |
| Tata Capital | 10.99% onwards |
| Standard Chartered Bank | 11.49% onwards |
| HSBC | 9.75%-16.00% |
| Navi Finserv | 9.90%-45.00% |
| StashFin | 11.99% onwards |
| Fullerton India | 11.99% onwards |
| Faircent | 12.00% onwards |
| KreditBee | Up to 29.95% |
| MoneyTap | 36.00% onwards |
| Dhani Loans & Services (Formerly known as Indiabulls Consumer Finance Ltd.) | 13.99% onwards |
| Money View | 15.96% onwards |
| PaySense | 16.80%-27.60% |
| EarlySalary | 18.00% onwards |
| Home Credit | 24.00% onwards |
| CASHe | 27.00% onwards |
| HDB Financial Services | Up to 36.00% |
Note: Rates as of 2 January 2023
The fees and charges of personal loans usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to personal loans:
| Particulars | Charges |
| Loan Processing Fees | 0.5% to 4% of loan amount |
| Pre-payment/Part-payment/Foreclosure Charges | For Floating Rate – Nil For Fixed Rate – Usually around 2% – 5% on the principal outstanding |
| Loan Cancellation | Usually around Rs 3,000 |
| Stamp Duty Charges | As per actuals |
| Legal Fees | As per actuals |
| Penal Charges | Usually @ 2% per month; 24% p.a. |
| EMI/Cheque Bounce | Around Rs 400 per bounce |
Other fees and charges that lenders may levy on your personal loan include documentation charges, verification charges, duplicate statement charges, NOC certificate charges, swap and late fees.
A few ways of improving your chances of personal loan approval are:
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