Almost all lenders including public and private banks and NBFCs offer personal loan in India. However, loan amount interest rate, eligibility criteria, and loan tenure vary from lender to lender. In order to find out which bank offers what amount as a personal loan, you should conduct a detailed research.
Let’s take a look at the loan amount offered by top 10 lenders in India.
State Bank of India offers a personal loan for both salaried and self-employed individuals under three categories – SBI Xpress Credit personal loan, SBI personal loan for pensioners, SBI Saral personal loan. SBI personal loan interest rates are one of the lowest in the market. The bank offers a personal loan to meet various financial needs. You can use SBI personal loan EMI calculator to find out your monthly instalment of an SBI personal loan. Here is how much personal loan you can get under three categories:
| Interest rate | 11.60% to 12.10% p.a. |
| Maximum age | 76 years |
| Loan amount | Rs. 25,000 to Rs. 14 lakh |
| Loan tenure | Upto 84 months |
Use SBI personal loan calculator to guess the monthly instalment on a personal loan for pensioners.
| Loan amount | Up to Rs. 20 lakh/ 24 times NMI |
| Age | 21 to 60 years |
| Interest rate | 11.55% p.a. onwards |
| Processing fee | 1% of the loan amount + applicable tax |
| Loan tenure | Maximum 72 months or remaining period of service (whichever is less) |
Use SBI personal loan calculator to guess the monthly instalment on your Express Credit personal loan.
| Interest rate | From 11.65% p.a. onwards |
| Age | 21 to 60 years |
| Loan amount | Minimum loan amount: Rs. 25,000 Maximum loan amount: 24 times NMI / Rs. 15 lakhs |
| Loan tenure | Up to 60 months or remaining period of service (whichever is lower) |
| Processing fee | 1% of the loan amount + applicable taxes |
| Prepayment charges | 3% on prepaid amount |
Note: SBI personal loan interest rate is indicative in nature and subject to periodic change
Use SBI personal loan calculator to guess the monthly instalment on your Express Power personal loan.
HDFC Bank offers a personal loan at an attractive interest rate. Key features of HDFC Bank personal loans are as under:
| Interest rate | From 11.25% p.a. to 21.50% |
| Age | 21 to 60 years |
| Loan amount | Up to Rs. 15 lakhs |
| Loan tenure | 12 to 60 months |
| Processing fee | Up to 2.5% of the loan amount |
| Interest rate | 12% to 15% p.a. |
| Age | 21 to 60 years |
| Loan amount | Rs.50,000 to Rs.10 lakh or 20 times the monthly net income |
| Loan tenure | Up to 60 months |
| Interest rate | 15.75% to 24% p.a. |
| Age | 21 to 60 years |
| Loan amount | Up to Rs. 15 lakhs |
| Loan tenure | 12 to 60 months |
ICICI Bank offers personal loans at attractive interest rates starting from as low as 10.99% p.a.
| Interest rate | 11.25% to 22.00% p.a. |
| Age | For salaried: 23 to 58 years; self-employed: 25 to 65 years |
| Loan amount | Upto 20 lakhs |
| Processing fee | Up to 2.25% p.a. of loan amount + GST |
| Prepayment charge | 5% p.a. of principal outstanding + GST |
| Loan tenure | From 12 to 60 months |
Bajaj Finserv is one of the top NBFCs in India and provides a personal loan for several personal requirements.
| Interest rate | 12.99% p.a. |
| Age | For salaried: 25 to 58 years |
| Loan amount | Upto 25 lakhs |
| Loan tenure | From 12 to 60 months |
Kotak Bank offers personal loans for various personal needs like wedding, child’s education, home renovation, travailing etc. Here are the loan amount and interest rate for Kotak Mahindra Bank personal loan:
| Interest rate | From 10.99% to 24% p.a. |
| Age | From 21 to 58 years |
| Loan amount | Up to Rs. 15 lakhs |
| Loan processing charge | Up to 2.5% of the loan amount + GST and other applicable statutory levis |
| Prepayment charge | Lock in period for 12 months. After 12 months, 5% foreclosure charge + GST on principal outstanding |
| Loan tenure | Upto 60 months |
| Interest rate | 10.15% to 12.90% p.a. |
| Age | 23 years to 60 years |
| Loan amount | Rs. 50,000 to 10 lakh |
| Processing fee | 1% p.a. of loan amount + GST |
| Prepayment charge | Within 2.0% + applicable taxes; after 6 months the charges are Nil. |
| Loan tenure | From 6 to 60 months |
Bank of Baroda, also known as BoB, is one of the leading public sector banks in India. Loan amount can be upto Rs. 10 lacs, depending upon your eligibility.
| Interest rate | 11.35% to 16.35% |
| Age | 21 years to 60 years |
| Loan amount | Minimum: Rs. 1 lakh in metro & urban city; Rs.50,000/- in semi-urban & rural city Maximum: Rs 10 lakh in metro and urban city; Rs. 5 lakh in semi-urban & rural city |
| Processing fee | Rs.1,000 to Rs.10,000 |
| Prepayment charge | Within 6.0% of principal outstanding; after 6 months the charges are Nil. |
| Loan tenure | Up to 4 years |
Fullerton India offers collateral-free personal loans for all types of customers with very flexible eligibility criteria. It offers maximum loan amount for a tenure up to 60 months.
| Interest rate | 12% onwards |
| Age | 21 years to 60 years |
| Loan amount | From Rs. 60,000 up to Rs. 25 lakh |
| Loan tenure | From 12 months to 60 months |
Always remember the maximum personal loan amount depends on your repayment capacity or debt to income ratio. It also depends on the time for which you want to get a personal loan, so you should use EMI calculator, such as SBI personal loan EMI calculator, to assess how much loan instalment you can pay per month and apply accordingly.
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