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Personal loan

BANK LISTS

What is a Personal Loan?

This type of fast loan has no end-use limits, so you might use it to finance a royal wedding, a trip to your ideal destination, home renovations, dealing with a medical emergency, or business expansion.

Personal Loan: Key Highlights

  • Current lowest personal loan interest rates start from 10.25% p.a.
  • Check fees & charges of all top banks offering personal loans in India.
  • Get flexible tenure of 12 to 84 months to repay the loan.
  • Submit online loan application and get instant loan approval
  • Personal Loan amount can be used for any personal purpose, including marriage, education, medical emergency, shopping, travel, etc.
  • No collateral or security is required as personal loans are unsecured loans.

Features of Personal Loan

  The rate of Interest

    The Rate of Interest on Personal Loans starts at10.25% depending on your credit score, income  and so forth.

 

Loan Amount

You can get a loan online for as low as 1Lakhs and as high as 2cr depending on your requirement and eligibility.

 

Loan tenure

Personal loans are available for periods as short as 12 months. The average tenure for a Personal Loan is between 12 and 84 months, depending on the loan amount.

 

Security

Due to its unsecured nature, collateral is not required.

 

Loan turnaround time

A Personal Loan typically has the fastest turnaround time in the industry. Many bank’s personal loansare online approval within 12 hours after submission of the online application.

 

Processing fees

It depends on the individual bank. It usually ranges between 999/- to 3% of the loan amount.

 

Prepayment penalty

Banks charge a prepayment penalty if you repay your Personal Loan before the determined period. The charges range between 1-2% of the outstanding amount on the date of closure.

Different Types of Personal Loans for your Special Needs

Education Loan

You can use these loans for paying the tuition fees of your child, or any other big academic requirements like going abroad.

Medical Emergency

A medical emergency can knock on your door when you least expect it. Unfortunately. Most of us aren’t prepared enough and face the turmoil it brings along. No warning situation can land you in trouble as their unforeseen expenses are unthought and unplanned. As we stand tall with you in need of an hour, with multiple loan options and quick disbursals, you can claim a hassle-free loan to attend your contingency. Deal with your medical expense without having to pledge any asset or broken investments or FD as collateral. Our team experts provide you with the right guidance ensuring that you receive the loan amount for your expense at an affordable rate.

Pension Loan

Pension loans can be availed by retired personnel to fulfil their financial needs like paying medical bills, meeting daily expenses, etc. Under pension loans, banks provide a few times the amount of pension the pensioner has drawn in previous months before submitting the loan application.

Indian Festivals

These loans are offered for celebrating festivals, parties, and functions. Festival loans help you in preparing for the festivities and hosting parties. Consumer Durable As the name suggests, this personal loan variant is availed for the purchase of appliances or consumer durables.

Marriage in Family

Weddings in India come with a long list of expenses. It's once in a lifetime experience for everyone and to make it more memorable many people often need financial support. Therefore, many lenders have started providing Personal Loans for Weddings These loans are availed by the would-be brides and grooms or their family members to pay for the wedding-related expenses like venue booking, catering, honeymoon vacation, etc.
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Frequently Asked Questions

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What They're Saying

This time, I worked with OmFinservs to move my home loan to Kotak Bank; the way this was handled was amazing; thanks to
Bikram Mohanty
Bikram Mohanty
This time, I worked with Om to move my home loan to Kotak Bank; the way this was handled was fantastic; thanks to my brother for recommending the balance transfer option, which will save me a substantial sum over time.
Saroj Kumar Sahoo
Saroj Kumar Sahoo
I sincerely appreciate your kind efforts in obtaining the Personal Loan from HDFC Bank through Omfinservs Company. It was a lovely experience working with you. Your devotion and hard work ethic were much appreciated, and the entire "
Pradeepta Ranjan Sahu
Pradeepta Ranjan Sahu