5 Best Personal Loan Companies in India


Whether it is planning an vacation, buying a car or two-wheeler or paying for higher studies, all of these requires a large amount of money. The first thought would be to take out the required amount from savings. But, there are other alternative options such as personal loans.

However, what is a personal loan?

A Personal loan is an unsecured loan which you can use for any purpose. An unsecured personal loan does not require you to keep any collateral with the lender. A personal loan company can offer you a loan online, via a mobile app or offline. To apply for a personal loan, you first need to meet the eligibility criteria set by the personal loan provider.

Many banks and NBFCs offer an unsecured personal loan at competitive personal loan interest rates. Some lenders have the lowest interest rate personal loan, while some have interest in the mid-range. Here we share the top 5 personal loan companies in India.

  1. Indiabulls Dhani Personal Loan

Dhani, by Indiabulls Consumer Finance provides various affordable and attractive types of online personal loans which can used as a travel loan, wedding loan, medical loan, New Car loan, Used Car Loan or Education loan at competitive interest rates. Added to this, they are the only one in the country to offer rewards points to their customer. Dhani customer can earn points by easy wasy every month and convert them into cash on paying EMI’s on time

Minimum-Maximum Loan Amount Rs 500 to Rs 15 Lakhs
Interest Rate From 1.17% per  month
Tenure 3 months to 36 months
Why Dhani Loans


Ø  Instant & Online Disbursal to all customers

Ø  Rewarding Loans – Earn cash backs on your timely  EMI payments

Ø  Higher Top up offers

  1. HDFC Bank Personal Loan

HDFC bank provides instant personal loans to help you get access to funds faster.

Minimum-Maximum Loan Amount Up to Rs 40 Lakhs
Interest Rate 11.25% to 21.50% p.a.
Tenure 12 months to 60 months
Why HDFC Loans


Ø  Minimum Documentation

Ø  Personal Loan Balance Transfer feature

Ø  Secure your personal loan with Sarv Suraksha Pro

  1. Axis Bank Personal Loan

Axis Bank’s personal loans can take care of your financial crunch easily.

Minimum-Maximum Loan Amount Rs 50,000 to  Rs 15 Lakhs
Interest Rate 15.75% to 24% p.a.
Tenure 12 months to 60 months
Why Axis bank Loans


Ø  Earn reward points on every transcation

Ø  Hassle free application with minimum documents

Ø  Transfer existing high interest loans

  1. Bajaj Finserv Personal Loan

Bajaj Finserv provides personal loan for a wide array of financial requirements.

Minimum-Maximum Loan Amount Up to Rs 25 Lakhs
Interest Rate From 12.99%
Tenure 12 months to 60 months
Why Bajaj Finserv Loans


Ø  Flexi personal loan

Ø  Easy eligibility and pre-approved offers

Ø  Online account management

  1. Mahindra Finance Personal Loans

Mahindra finance personal loan can help you avail a personal loan on various interest rates and repayment facilities.

Minimum-Maximum Loan Amount Up to Rs 3 Lakhs
Interest Rate From 11.70% p.a.
Tenure Up to 3 years
Why Mahindra finance Loans


Ø  Easy EMI payment option through cheque, ECS, mobile transfer or cash at the branch

Ø  Hassle-free documentation with maximum flexibility

Personal loan companies in India now provide online loan application services as well. In addition to this, they also provide a personal loan EMI calculator. This calculator can help you get an estimate of your EMIs each month. All you need to do is enter your loan amount, tenure and interest rate. The result is your estimated EMI. Before you choose an online personal loan lender, make sure you do detailed research. Along with interest rates, tenure and the loan amount offered, you also need to look at things such as the pre-payment fees, late payment fees, etc.

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