|South Indian Bank||10.90% - 15.00%||Tenure max. upto 48 Months||Explore|
|Oriental Bank Of Commerce||11.20% to 12.95%||Maximum Tenure 60 months||Explore|
|Uco Bank||11.35% to 11.60%||Maximum Tenure 60 months||Explore|
|Central Bank Of India||11.40%||Maximum Tenure of 48 Months||Explore|
|Kotak Mahindra Bank Limited||11.5% to 24%||Maximum Tenure 60 months||Explore|
|Andhra Bank||11.50% to 13%||Contact Bank Branch||Explore|
|Icici Bank Limited||11.59% to 22.00%||Maximum Tenure 60 months||Explore|
|Dhanalakshmi Bank||11.68% to 15.65%||Max. Tenure 60 months||Explore|
|Indian Overseas Bank||11.80%||Maximum Tenure 60 months||Explore|
|Punjab National Bank||11.90% to 14.90%||Contact Bank Branch||Explore|
|Yes Bank||11.99% - 20.00%||Maximum Tenure 60 months||Explore|
|Indusind Bank||11% to 30.50%||Maximum Tenure 60 months||Explore|
|Catholic Syrian Bank Limited||12.00% to 19.00%||Maximum Tenure 60 months||Explore|
|Idbi Bank||12.20%||Maximum Tenure 60 months||Explore|
|State Bank Of India||12.45%||Maximum Tenure of 48 Months||Explore|
|Bharatiya Mahila Bank Limited||12.45%||Maximum Tenure of 48 Months||Explore|
|State Bank Of Mysore||12.45%||Maximum Tenure of 48 Months||Explore|
|State Bank Of Hyderabad||12.45%||Maximum Tenure of 48 Months||Explore|
|State Bank Of Patiala||12.45%||Maximum Tenure of 48 Months||Explore|
|State Bank Of Travancore||12.45%||Maximum Tenure of 48 Months||Explore|
|State Bank Of Bikaner And Jaipur||12.45%||Maximum Tenure of 48 Months||Explore|
|Vijaya Bank||12.50% to 13.50%||Maximum Tenure 60 months||Explore|
|Bank Of Maharashtra||12.75%||Maximum Tenure 36 months||Explore|
|Corporation Bank||12.75% to 13.75%||Maximum Tenure 60 months||Explore|
|Punjab And Sind Bank||12.75% to 14%||Maximum Tenure 60 months||Explore|
When you have some important expenses like a holiday trip abroad, household shifting, marriage in the family, payment of credit card bill, repayment of an existing loan, medical emergencies and many more but don't have enough money for the same, personal loan helps you to easily pay off such expenses.
Personal loans are unsecured loans offered by banks without any collateral such as your home, flat, property, etc. Personal loans are usually available at fixed interest rates where interest rates are based on your credit score. The better your credit score, the lower your interest rate and vice-versa.
Personal loans aren't cheap but expensive one. The beneficial part is that they can be easily available and their processing is very fast as compared to other types of loans like home loan, education loan, car loan, gold loan, etc.
A personal loan is offered at a higher interest rate than a secured loan due to higher risk involved as you are not asked for any collateral to ensure repayment.
These personal loans allow you to repay them from 12 to 60 months.
A personal loan may help you gain financing or pay off your bills but there a few things you should know before you take out a loan.
Banks will use your credit score to help them determine the quantum of loan, interest rate, repayment tenure and whether to offer you a personal loan.
You must have a regular income no matter you are salaried or self-employed. Sometimes there is also some minimum income criteria imposed by banks for extending personal loan such as you should earn Rs 3 lakhs per annum to apply for a personal loan. You must be aware of this factor.
Lenders also pay attention towards the employment status that you have. Whether you are salaried or self-employed? If you are salaried then they will check:
(3) Repayment History
Lenders also check your repayment history of your past as well as your existing loans. They also check if you have made any default or delay in making your payments in time.
(4) Credit Score
For getting your instant Personal Loan approval you should be having credit score should be above 750. Credit score of 750 is considered as a decent credit score and you will easily get the loan because it indicates that you have a very good loan repayment history.
(5) EMI to Income Ratio
Lenders calculate the proportion of your existing loans to your salary during the loan approval process. Your chances of getting loan are less when your total EMIs exceed your monthly salary by 40%.