RBI announced in a report that outstanding personal loans credit in India increased by 35% in 2017. Customers need longer decision time with increasing number of banks offering personal loans. But today, they can get information on different personal loans banks, on the Internet. This article serves as a guide for users in the application of a Personal Loan Online.
At Qbera, we provide personal loans to salaried individuals of India. Features like online approval and quick disbursal of loans save time and effort.
Here, we have summed the features and benefits of the top banks in India. It will help you to decide on your right banking partner.
Make a smart choice and apply for a Personal Loan with Qbera.
It is advisable to compare the facts and figures from various personal loan Banks or NBFCs. The table illustrated below will help you:
Bank Name* | Loan Amount | Interest Rate | Processing Fee | Pre-closure Fee | Tenure |
---|---|---|---|---|---|
RBL Bank |
50k - 5 lakh |
11.99% - 24% |
3% of Loan amount |
Lock period- 12 months Between 13-18 EMI→5% of OP More than 18 EMI→3% of OP Min 12 EMIs paid and no bounce→NIL charges |
12-60 months |
IndusInd Bank |
25k - 10 lakh |
11.25% onwards |
Up to 2.5% of Loan amount + Taxes |
4% of OP for salaried, after 12 EMI s
|
12-60 months |
Kotak Mahindra Bank |
50k-15 lakh |
10.99% - 24% |
Up to 2.5% of the loan amount +
|
5% foreclosure charges +
|
|
HDFC Bank |
Up to 15 lakh |
14.75% - 20.7% |
Up to 2.5% of the loan amount
|
13-24 →-4% of OP 25-36 →3% of OP Post 36→2% of OP |
12-60 months |
Aditya Birla |
25K- 15 lakh |
14 % - 26% |
2% of Loan Amount |
|
6-36 months |
Capital First |
50k-10 lakh |
|
As per agreement |
5% of OP |
12-60 months |
*Note: Please refer the bank’s website to find out the exact interest rates and other charges.
Note: HDFC Processing Fee is given for various intervals (in months) the loan can be pre-closed as a % of Outstanding Principal (OP)
It is a tedious task to carry out a comparative study of various banks. We hope that our compilation of different personal loan metrics helps you in deciding your finance partner. Qbera offers an integrated and digital platform to apply for a Personal Loan.
Choose Smart: Choose Qbera
Interest Rate
|
11.99% to 35.99%
|
Processing Fee
|
1% to 5% of total loan amount
|
Loan Amount
|
₹1,00,000 to ₹15,00,000
|
Loan Tenure
|
12 to 60 months
|