Blogs > Best Banks Offering Personal Loans in India
Best Banks Offering Personal Loans in India
Compare Interest Rates, Features, Eligibility, and
Disbursal Speeds to Find the Right Personal Loan for You
Overview
Personal loans are one of the most accessible forms of
credit available today. In FY 2024–25, India’s personal loan segment witnessed
a 19.6% annual growth, with disbursals exceeding ₹1.25 lakh crore, as
per RBI.
In this guide, we’ve compared the top banks offering
personal loans in India in 2025 using a data-backed and metrics-driven
approach. You’ll find comparisons for interest rates, eligibility,
disbursal times, loan amounts, and documentation.
For those actively seeking a loan, you can compare personal loans
online and apply instantly via IndiaLends.
Top Banks Offering Personal Loans in 2025 – Comparison
Table
|
Bank Name |
Interest Rate (p.a.) |
Loan Amount |
Tenure |
Processing Fee |
Avg. Disbursal Time |
Min. Net Income (Monthly) |
|
10.50% – 21.00% |
₹50,000 – ₹40 Lakhs |
12 – 60 months |
Up to 2.5% + GST |
1 – 2 working days |
₹25,000 |
|
|
10.75% – 19.00% |
₹50,000 – ₹25 Lakhs |
12 – 60 months |
Up to 2.5% + GST |
1 – 2 working days |
₹25,000 |
|
|
10.99% – 22.00% |
₹50,000 – ₹40 Lakhs |
12 – 60 months |
Up to 2.0% + GST |
1 – 2 working days |
₹20,000 |
|
|
SBI
(Xpress Credit) |
10.60% – 15.65% |
₹25,000 – ₹20 Lakhs |
6 – 72 months |
₹1,000 – ₹2,000 + taxes |
2 – 5 working days |
₹15,000 (govt. employees) |
|
10.99% – 24.00% |
₹50,000 – ₹25 Lakhs |
12 – 60 months |
Up to 2.5% + GST |
1 – 2 working days |
₹20,000 |
|
|
11.00% – 28.00% |
₹30,000 – ₹25 Lakhs |
12 – 60 months |
Up to 3.99% |
Within 24 hours |
₹20,000 |
|
|
10.99% – 24.00% |
₹75,000 – ₹35 Lakhs |
12 – 72 months |
Up to 2.75% |
1 – 2 working days |
₹20,000 |
2025 Lending Trends
- Digital
Lending: Over 70% of personal loans are now processed digitally.
- Average
Loan Size: ₹2.8 lakhs across metros.
- Market
Size: Expected to reach ₹2.5 lakh crore by 2027.
For more market trends and instant loan approval options,
visit IndiaLends Market Insights.
Bank-wise Loan Breakdown
- Interest
Rate: 10.50% – 21.00%
- Disbursal:
Within 24–48 hours
- Prepayment:
Allowed after 12 months
- Interest
Rate: 10.75% – 19.00%
- Mobile
App: iMobile Pay for quick KYC
- Best
suited for: ICICI salary account holders
- Interest
Rate: 10.99% – 22.00%
- Flexible
EMI options with part payment facility
- Interest
Rate: 10.60% – 15.65%
- Lowest
processing fee among competitors
- Ideal
for: Government/PSU employees
- Interest
Rate: 10.99% – 24.00%
- Instant
online approvals for salaried individuals
Eligibility Criteria
|
Criteria |
Minimum Requirement |
|
Age |
21 to 60 years |
|
Monthly Income |
₹15,000 to ₹25,000 (bank specific) |
|
Employment Type |
Salaried or Self-employed |
|
Work Experience |
1 year (salaried), 2 years (self-employed) |
|
Credit Score |
Minimum 700; Ideal 750+ |
|
Documents Required |
PAN, Aadhaar, 3–6 months bank statement, salary slips |
You can use this IndiaLends
eligibility checker tool to instantly find out your eligibility.
How to Apply for a Personal Loan Online
- Visit
IndiaLends Personal
Loan Page
- Choose
your preferred bank
- Fill
basic details and upload documents
- Get
instant approval (if pre-qualified)
- Disbursal
in as little as 24 hours
FAQs
Q1. Which bank gives personal loans at the lowest
interest rate in 2025?
Answer: SBI offers one of the lowest personal loan
interest rates starting at 10.60%. Check updated SBI rates here.
Q2. What is the fastest way to get a personal loan?
Answer: Applying online via IndiaLends offers instant
approval and disbursal in under 24 hours for select banks like HDFC and Kotak.
Q3. Can I get a loan if my credit score is below 700?
Answer: It's possible but difficult. Try improving
your credit score or check IndiaLends Credit Report
Tool for a free analysis.
Q4. What are the pre-closure charges?
Answer: Most banks allow foreclosure after 12 EMIs,
with charges between 2%–4% of the outstanding principal. Always verify with
your lender.
Q5. Is it better to take a personal loan from a bank or
NBFC?
Answer: Banks usually offer lower rates but stricter
criteria. NBFCs like Tata Capital
or Bajaj
Finserv provide quicker disbursals and flexible options.
Conclusion
Choosing the right bank for a personal loan depends on your
income, employment type, credit score, and urgency. Use tools like IndiaLends personal loan
comparison to find the best offers instantly.