Personal loans have become one of the most popular financial products in India, offering quick access to funds without collateral. Whether you need money for medical emergencies, weddings, education, or even travel, personal loans are often the fastest option. But with so many banks and NBFCs (Non-Banking Financial Companies) offering loans, the big question is: Which is the best personal loan in India in 2025?
In this detailed guide, we’ll cover:
- The top personal loan providers in India
- Latest interest rates and processing fees
- Eligibility criteria & documents required
- High CPC keywords related to personal loans
- A complete comparison of best loan offers
By the end of this article, you’ll have full clarity on choosing the right personal loan that suits your needs.
1. Best Personal Loan in India
Choosing the best personal loan in India depends on your income, credit score, repayment capacity, and urgency. Some banks like SBI and HDFC offer lower interest rates, while NBFCs like Bajaj Finserv focus on faster approvals and minimal documentation.
2. Personal Loan Interest Rates 2025
Interest rates are the most critical factor. Here’s a quick comparison:
- SBI Personal Loan: 11% – 14% p.a.
- HDFC Bank Personal Loan: 10.75% – 14.50% p.a.
- ICICI Bank Personal Loan: 10.80% – 16% p.a.
- Axis Bank Personal Loan: 10.49% – 18% p.a.
- Bajaj Finserv Personal Loan: 11% – 20% p.a.
👉 Tip: Always compare interest rates before applying.
3. Instant Personal Loan Online
Today, you can get an instant personal loan online in under 10 minutes with just Aadhaar, PAN, and salary slip. Popular apps:
- PaySense
- KreditBee
- MoneyTap
- Bajaj Finserv App
These are best for emergency funding.
4. Personal Loan Eligibility in India
To qualify, you need:
- Age: 21–60 years
- Income: ₹20,000+ per month (varies by bank)
- Employment: Salaried or self-employed
- Credit Score: 700+ for best offers
5. SBI Personal Loan
State Bank of India is trusted for low-interest loans and longer tenures.
- Loan Amount: ₹50,000 – ₹20 Lakhs
- Tenure: 1–6 years
- Processing Fee: Up to 1.5%
6. HDFC Bank Personal Loan
HDFC offers fast approvals, especially for salaried professionals.
- Loan Amount: Up to ₹40 Lakhs
- Disbursal: Within 24 hours
- Benefits: Pre-approved offers for existing customers
7. ICICI Bank Personal Loan
ICICI is popular for flexible repayment.
- Loan Amount: ₹50,000 – ₹25 Lakhs
- Tenure: Up to 6 years
- Balance transfer options available
8. Axis Bank Personal Loan
Axis is known for customized loan offers.
- Loan Amount: Up to ₹25 Lakhs
- Special festive offers
- Top-up loans available
9. Bajaj Finserv Personal Loan
Bajaj Finserv is famous for instant loans with minimal paperwork.
- Loan Amount: Up to ₹25 Lakhs
- Flexible EMI options
- Fastest disbursal in India
10. Kotak Mahindra Bank Personal Loan
Kotak is ideal for young professionals.
- Loan Amount: ₹50,000 – ₹30 Lakhs
- Quick processing
- Attractive balance transfer schemes
11. Personal Loan for Salaried Employees
Banks prefer salaried employees due to stable income. With salary slips and bank statements, approval is faster.
12. Personal Loan for Self-Employed
For self-employed individuals, NBFCs offer better chances since income may vary. Proof of business income is required.
13. Personal Loan Without CIBIL Score
If you have no CIBIL history or a low score, NBFCs and fintech apps can still provide loans, but at higher interest rates.
14. Personal Loan EMI Calculator India
Before applying, use a personal loan EMI calculator to check affordability. For example:
- Loan: ₹5 Lakhs
- Tenure: 3 years
- Interest: 12% p.a.
- EMI: ~₹16,600
15. Best Bank for Personal Loan in India
Based on low interest and trust, the best banks for personal loan in India 2025 are:
- SBI
- HDFC
- ICICI
- Axis Bank
- Kotak Mahindra
16. Compare Personal Loan Offers Online
Always compare loan offers online using portals like:
- PaisaBazaar
- BankBazaar
- PolicyBazaar
17. Personal Loan for Medical Emergencies in India
Hospitals often demand advance payment. Instant loans are a lifesaver in medical emergencies. NBFCs disburse within 5–10 minutes.
18. Lowest Interest Personal Loan India
Currently, SBI and HDFC offer the lowest interest rates in India. But it depends on your CIBIL score and profile.
Case Studies / Examples
- Example 1: Ramesh, a salaried IT employee, took an HDFC personal loan at 11% interest for his wedding expenses. The loan was disbursed in 24 hours.
- Example 2: Priya, a self-employed businesswoman, got a Bajaj Finserv loan for medical needs despite a low CIBIL score.
FAQs on Best Personal Loan in India
Q1. Which bank gives the lowest interest rate personal loan?
👉 SBI and HDFC usually provide the lowest interest rates in 2025.
Q2. Can I get a personal loan without salary slip?
👉 Yes, but interest rates will be higher. NBFCs may approve based on bank statements.
Q3. What is the maximum loan amount in India?
👉 Some banks like HDFC offer up to ₹40 Lakhs.
Q4. How fast can I get a personal loan?
👉 NBFCs like Bajaj Finserv can approve within minutes.
Q5. Does personal loan affect CIBIL score?
👉 Yes, timely repayments improve your score; defaults harm it.
Conclusion
The best personal loan in India depends on your income, CIBIL score, and urgency. SBI and HDFC are great for low-interest rates, while Bajaj Finserv is ideal for instant approval. Always compare loan offers online, use EMI calculators, and choose the one that fits your repayment capacity.
