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HDFC Bank
Personal Loan
Interest Rate
10.75%
Starting from
Loan Up to
₹10 Lakh
Tenure
Up to 5 Years
Processing Fee
₹999
ICICI Bank
Personal Loan
Interest Rate
10.85%
Starting from
Loan Up to
₹8 Lakh
Tenure
Up to 6 Years
Processing Fee
₹1,199
Axis Bank
Personal Loan
Interest Rate
10.99%
Starting from
Loan Up to
₹7.5 Lakh
Tenure
Up to 5 Years
Processing Fee
₹999
Kotak Bank
Personal Loan
Interest Rate
10.90%
Starting from
Loan Up to
₹6 Lakh
Tenure
Up to 7 Years
Processing Fee
₹0
A personal loan is an unsecured loan offered by banks and NBFCs to individuals to meet their financial requirements. The principal loan amount, along with the interest, is repaid by borrowers in equated monthly installments (EMIs) over a pre-decided tenure, usually ranging from 1 to 5 years. To qualify, applicants must meet certain eligibility criteria based on their credit profile, income, repayment capacity, etc.
Transfer your existing personal loan to another bank or NBFC at a lower interest rate and save significantly on EMIs. Ideal for borrowers with a strong credit score and timely repayment history.
💸 From 10.50% p.a.
⏳ Up to 5 years
Instant personal loans offered to select existing customers with no paperwork. The amount is credited directly to your bank account within minutes.
💸 From 10.25% p.a.
⏳ Up to 5 years
Avail an additional loan amount over and above your existing personal loan without starting a new loan account.
💸 From 10.75% p.a.
⏳ Same as existing loan
Short-term loans with tenure of up to 12 months, perfect for urgent financial needs like medical emergencies.
💸 Higher than regular loans
⏳ Up to 12 months
Designed specifically for business owners and freelancers with flexible eligibility.
💸 From 11.50% p.a.
⏳ Up to 5 years
Quick disbursal loans to handle medical emergencies without financial stress.
💸 From 10.99% p.a.
⏳ Up to 4 years
Lenders ask applicants for certain documents to verify identity, income, repayment capacity, and place of residence. Below are the commonly required documents for salaried and self-employed individuals.
| Requirements | Salaried Individuals | Self-employed Professionals / Non-Professionals |
|---|---|---|
| Proof of Identity | Passport, Voter ID, Driving License, Aadhaar Card or PAN Card | Passport, Voter ID, Driving License, Aadhaar Card or PAN Card |
| Proof of Residence | Aadhaar Card, Voter ID, Passport or Utility Bills | Aadhaar Card, Voter ID, Passport or Utility Bills |
| Proof of Income | Latest Salary Slips, Bank Statements, Form 16 | Previous Years’ ITR, P&L Statement, Balance Sheet, Bank Statements |
Personal Loan for
Marriage
Personal Loan for
Travel
Personal Loan for
Medical Emergency
Personal Loan for
Home Renovation
Personal Loan for
Salaried Employees
Personal Loan for
Second Hand Vehicle
To determine your eligibility for a personal loan, visit the lender’s official website and review the eligibility criteria provided by the lender. Generally, lenders require applicants within the age range of 21 to 60 years, with a credit score of 750 or aboveand a minimum monthly income of ₹15,000 for a personal loan.
While the fees and charges of personal loans can vary depending on the lender and the credit profile of the applicant, the table below provides a broad range of personal loan fees and charges levied by lenders.
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 0.5% to 4% of loan amount |
| Prepayment / Part-prepayment / Foreclosure Charges | For Floating Rate: Nil For Fixed Rate: Usually around 2% – 5% on the principal outstanding |
| Loan Cancellation | Usually around ₹3,000 |
| Stamp Duty Charges | As per actuals |
| Legal Fees | As per actuals |
| Penal Charges | Usually @ 2% per month; 24% p.a. |
| EMI / Cheque Bounce | Around ₹400 per bounce |
Other fees and charges levied by lenders may include documentation charges, verification charges, duplicate statement charges, and NOC certificate charges.
At LoanSuperPrime, we offer pre-approved personal loan offers from top lenders like Axis Bank, IndusInd Bank, Aditya Birla Capital, Hero FinCorp, Moneyview and more, all in one place. These loans do not need any documentation and are disbursed instantly, making them ideal for individuals with urgent money needs.
You can apply for a personal loan based on your salary, as lenders assess eligibility primarily on your income and repayment capacity. Higher salary often improves loan amount eligibility and chances of approval.
Personal Loan for
₹25,000
salary
Personal Loan for
₹30,000
salary
Personal Loan for
₹50,000
salary
Personal Loan for
₹60,000
salary
Personal Loan for
₹80,000
salary
Personal Loan for
₹1,00,000
salary
The differences between an instant personal loan and a regular personal loan are outlined in the table below.
| Instant Personal Loan | Regular Personal Loan |
|---|---|
| Disbursed in a few minutes or seconds | Usually takes 2–4 days’ time for loan disbursal |
| Usually pre-approved and offered to select existing customers having good credit profiles | Offered to new individuals as well as existing customers |
| Can avail only up to the sanctioned loan amount | Can avail higher loan amounts based on their repayment capacity |
You can calculate your personal loan EMI using a free online personal loan EMI calculator. Simply enter the loan amount, applicable interest rate and tenure in the calculator to get instant and accurate EMI results, helping you plan your monthly finances better.
Understanding whether you need a personal loan or a business loan can help you choose the option that best suits your requirements. The table below highlights the key differences to help you make an informed decision.
| Parameter | Personal Loan | Business Loan |
|---|---|---|
| Purpose | For personal expenses such as travel, medical, wedding, education, etc. | For business needs like working capital, expansion, inventory, salaries, cash flow, etc. |
| Eligibility Basis | Based on individual income, credit score and employment stability. | Based on business turnover, profits, cash flow, GST returns, ITR, credit score and business vintage. |
| Documentation | Minimal – KYC, income proof, bank statements, salary slips / ITR. | Extensive – KYC, business registration, GST returns, ITR, financial statements, bank statements. |
| Loan Amount | Typically lower: ₹25,000 to ₹40 lakh. | Higher eligibility: ₹1 lakh to ₹2 crore (or more, depending on lender). |
| Interest Rates | Usually fixed and higher than secured loans. | Varies based on business risk; can be higher or lower than personal loans. |
| Collateral Requirement | No collateral required. | Mostly unsecured, but may be secured for large loan amounts. |
| Tenure | 1 to 6 years. | 1 to 10 years; working capital loans may have flexible tenure. |
| Processing Time | Faster approvals; some loans disbursed on the same day. | Longer processing due to business assessment (2–7 days typically). |
| Usage Flexibility | Very flexible; can be used for any personal purpose. | Must be used strictly for business-related activities. |
| Tax Benefits | No tax benefits on interest. | Interest and processing charges may be claimed as business expenses. |
| Ideal For | Salaried or self-employed individuals needing quick personal funds. | Entrepreneurs, MSMEs and professionals requiring capital for growth. |
Two years ago I faced a medical emergency at my home. I had an emergency fund but soon I ran short of it too. I then applied for a personal loan through the LoanSuperPrime app and got instant reply from the customer executive. They guided me through the entire loan process, helped me get the loan in time.
I have a 20 year old house which required immediate repair and maintenance. Though I had enough savings but did not want to exhaust them. So I applied for a personal loan of Rs. 10 lakh for a tenure of 5 years through LoanSuperPrime. The team was extremely cooperative and helped me in getting the lowest interest rates possible with loan disbursal in no less than 24 hours.
When I checked through the LoanSuperPrime app, I found myself eligible for pre-approved loan. I applied for a pre-approved personal loan from a bank with zero documentation. The process was hassle-free, quick and I got my loan disbursed within a few minutes.
Note: Data as per RBI’s Financial Stability Report, December 2024
35 million+ Customers
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Vinod Kumar
Reviewed on 03 Nov 2025
Great service! I used the Bajaj Finance app to apply for a personal loan for a vacation abroad. The process was digital and quick.
Saurabh Singh
Reviewed on 03 Nov 2025
The process was quick, terms were clear, and flexible EMIs made repayment stress-free.
Ajay Kumar
Reviewed on 03 Nov 2025
Needed urgent funds for medical emergency. Quick approval and timely disbursal helped a lot.
Ankush Chopra
Reviewed on 03 Nov 2025
Super impressed! Approval was fast and saved my valuable time.
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