Best Banks for Personal Loan 2019

Choosing the best bank is the first step towards making the right financial decision. There are multiple lenders in the market, and they will offer you a personal loan. Go for the bank that offers the best interest rate with easy terms and conditions. Here, we will help you with the best personal loan interest rate for the banks
Serial No
Bank Name
Interest Rates
1
HDFC Bank
11.25%-21.50%
2
ICICI Bank
10.99%-18.49%
3
Bajaj Finserv
10.99%-16%
4
Axis Bank
16%-24%
5
SBI
10.90%-15.30%
6
Kotak Mahindra Bank
10.99%-20.99%
7
Yes Bank
10.99%
8
Standard Chartered Bank
11.5%
9
Fullerton India
14%
10
RBL Bank
13%
11
IndusInd Bank
10.99%
12
RBL Bank
13%
13
IndusInd Bank
10.99%


We have given above some of the best banks, along with their interest rates. Usually, all these banks and NBFCs have some standard set of requirements in terms of documents for a personal loan.


A salaried person needs to furnish the following documents –
  • Photos in passport size
  • Salary statement/Bank Statement for the last 3 months
  • PAN Card/Driving License/Voter ID Card/Aaadhar Card
  • Employment and Signature Proof
A self-employed people need to furnish the following documents –


  • 2 passport size photographs
  • Office residence proof
  • ITR for the last 2 years
  • Employment and Signature Proof
  • PAN Card/Driving License/Voter ID Card/Aaadhar Card
Now, you can easily Apply Personal Loan Online and compare the best personal loan interest rate along with the documentation requirements. Look out for a lender, which is trusted by millions, have a modern secure process, and transparent and ethical policies. Usually, all the lenders and banks which we have mentioned above are

  1. HDFC Bank – HDFC Stands for Housing Development Finance Corporation. The primary objective of the company is to increase the homeownership of the country.  It offers financial services such as home loans, corporate banking, personal loans, trading, insurance, and investments. You can avail the personal loan from HDFC for many reasons like foreign education, wedding, travel, business expansion, or any other legitimate purpose. Avail credit facility from the bank at flexible tenure, low-interest rate and simple documentation.
  2. ICICI Bank – In terms of market capitalization and assets, ICICI is the third largest bank in India. It offers personal loan at the most competitive rate (mentioned above) with easy terms and conditions. The following are the benefits of taking a personal loan from the ICICI Bank –


  • Multi-purpose loan
  • Convenient repayment options
  • No security
  • Easy instalments
  • Easy documentation process
  • Quick turnaround
  1. Bajaj Finserv – A premier NBFC, Bajaj Finserv is providing services in asset, wealth, and insurance domains. People go for Baja Finserv because of its competitive rate and amazing offers, ahead of the festive season. You can avail personal loan up to Rs 25 lakh from Bajaj Finserv. 


  1. Axis Bank – It is a popular bank with over 2400 branches and 12,900 ATMs across the country. The bank offers services in lending, investments, retail, advisory, and treasury domains. It is also offering services in SMEs, agricultural and micro-financing space. Axis Bank Personal Loan is available in the range of Rs 50,000 to Rs 15 lakh.


  1. SBI – The full form of SBI is State Bank of India. It is the largest and most prestigious bank in the country. Its popular personal loan products are SBI Xpress Credit Personal Loan, SBI Pension Loan, and SBI Xpress Power Loan. Its interest rate is most competitive in the industry. Further, the documentation process is simple. If you face any hindrance or have any query regarding SBI Personal Loan Application, dial 1800-11-2211, 1800-425-3800 and 080-26599990. You can also write an email at customercare@sbi.co.in


  1. Kotak Mahindra Bank – It is a significant bank offering financial services in the domain of personal finance, investments, life insurance, and wealth management. 


Following are the benefits of the Kotak Mahindra Bank Personal Loan.


  • Interest rate is the range of 10.99%-20.99%
  • Loans are available in a range of Rs 50,000 to Rs 15 lakh
  • Flexible repayment options
  • Multipurpose loan
  • Fast service
  • Minimal paperwork
  • No part prepayment


  1. Yes Bank – Yes Bank was founded in 2004, and from then it is serving the masses of the country. It is engaged in offering Consumer Banking, Credit Cards, Corporate Banking, Finance & Insurance, Private Banking, Mortgage Loans, Wealth Management, and Investment Banking. Yes, Bank Personal Loan is acknowledged for the following reasons:

  • Collateral-free
  • Flexible repayment options
  • I-minute in-principle approval
  • Fast disbursal
  • Speedy approval
  • Doorstep banking
  • Part prepayment facility