How to Get Personal Loan | Where to Get Personal Loan
Imagine you wake up and receive a message from your crush, “Let’s get married.” Indeed, it’s like a dream come true, and you are so excited about it. But then you look at your wallet and realize you never saved enough funds to get married. What will you do then? Sacrifice your love?? Never! Because you do not need to worry about sacrificing your love due to a lack of funds, as you can get a personal loan whenever you want.
Personal loans are a popular unsecured financing option to manage your expenses, like weddings, any sudden medical emergency, trip with friends that solely depend on your creditworthiness. These loans can range from ₹50,000 to ₹50 lakh or more, with tenures from 12 to 96 months at normal interest rates. In this article, I will explain how to get personal loan anytime, a solution to your sudden problems.
Where to Get Personal Loan
When you are googling where get personal loan you will find two types of institutions: Banking Sectors and Non-Banking Financial Institutions, known as NBFCs. Banking Sectors like HDFC Bank, ICICI Bank, Axis Bank, State Bank of India, and many other Banks of India are involved in this category. NBFCs like Bajaj Finance, Tata Capital, Aditya Birla, and many other NGOs and financial institutions may fall in this category.
Platforms like Paisabazaar and BankBazaar allow comparisons across multiple lenders. Banks often offer lower rates for existing customers, while NBFCs provide faster processing.
Popular NBFCs for Personal Loans
Below is a comparison of different NBFCs offering personal loans with various interest rates to their clients:
| NBFC | Interest Rate (p.a.) | Max Loan Amount | Tenure | Key Features |
| Bajaj Finance | 10% onwards | Up to ₹55 Lakh | 12-96 months | Flexible tenures, quick digital approval, pre-approved offers |
| Tata Capital | 10.99% onwards | Up to ₹35 Lakh | 12-72 months | Minimal documentation, overdraft facility available |
| Aditya Birla Capital | 11% onwards | Up to ₹50 Lakh | 12-84 months | Competitive rates for good credit, multi-purpose use |
| Poonawalla Fincorp | 9.99% onwards | Up to ₹50 Lakh | 12-84 months | Low starting rates, 100% digital process, no foreclosure charges |
| HDB Financial Services | 12% onwards | Up to ₹20 Lakh | 12-60 months | Flexible for salaried/self-employed, quick disbursal |
| Mahindra Finance | 12% onwards | Varies by profile | Up to 60 months | Strong in rural/semi-urban areas, customized options |
| L&T Finance | 11.50% onwards | Up to ₹15 Lakh | Up to 48 months | No income proof for select loans, digital process |
| Muthoot Finance | 12% onwards | Up to ₹25 Lakh | 6-24 months | Primarily gold-backed, also unsecured options |
Major Banks for Personal Loans
Now, here is the comparison table for the banking sectors among different banks in India, which offer variable rates of interest depending on loan tenures and other key factors.
| Bank | Interest Rate (p.a.) | Maximum Loan Amount | Maximum Tenure | Key Highlights |
| State Bank of India (SBI) | 10.10% – 15.10% | Up to ₹35 Lakh | Up to 7 years | Lower rates for salary account holders, a wide branch network |
| HDFC Bank | 9.99% – 24.00% | Up to ₹40 Lakh | Up to 6 years | Instant approval for existing customers, flexible options |
| ICICI Bank | 10.60% – 19.00% | Up to ₹50 Lakh | Up to 6 years | Quick digital process, pre-approved offers via app/net banking |
| Axis Bank | 9.99% – 22.00% | Up to ₹40 Lakh | Up to 7 years | Competitive rates, minimal documentation for salaried |
| Kotak Mahindra Bank | 9.98% onwards | Up to ₹35 Lakh | Up to 6 years | Fast processing, attractive rates for high credit scores |
| Bank of Baroda | Starting at 9.99% | Up to ₹50 Lakh | Up to 6 years | Special schemes for government employees, with low processing fees |
| Canara Bank | 9.95% – 15.40% | Up to ₹10 Lakh | Up to 5 years | Affordable for public sector employees, simpler eligibility |
| HSBC | Starting from 9.95% | Up to ₹50 Lakh | Up to 5 years | Premium banking perks, good for expats and high-income individuals |
How to Get Approved for Personal Loan
It is not very difficult to get a loan approval for a personal loan if you first meet the basic requirements, such as:
- Indian Citizenship
- Age between 21-60 Years
- Minimum Monthly Salary of ₹20,000-₹25,000. In big cities, it should be higher.
- A CIBL score of 750+ is highly preferred.
- Record of stable employment for the past 3 years or more to increase the chances of your loan approval.
However, there are other tips too on how you can increase your loan approval
Tips to boost approval:
- Maintain a high CIBIL score: As the bank goes through your credit history so it is better to pay your bills on time and reduce your existing EMIs if any.
- Keep debt-to-income ratio low: Your debts should never exceed one-third of your income or salary. However, it is recommended to keep this ratio between 40-50% at max.
- Provide accurate documents: Aadhaar, PAN, salary slips (last 3-6 months), bank statements, and employment proof.
- Apply with a co-applicant: A co-applicant significantly increases the chances of your loan approval.
Pre-approved offers from your bank can lead to instant approval.
Where to Apply Personal Loan
Visit internet portals such as lender websites (HDFC, ICICI, Bajaj), and application forms or platforms such as Paisabazaar to acquire several options of where to apply personal loan. Banks such as SBI allow you to make a visit to their branches. Electronic programs are quicker and do not normally involve a lot of paperwork.
Where is the Best Personal Loan
The best personal loan will depend on what you need, like cheap rates,a large amount, or quick disbursal. By January 2026, the best providers are:
| Lender | Interest Rate (p.a.) | Loan Amounts | Tenure | Pros | Cons |
| HDFC Bank | 10.00% onwards | Up to ₹40 lakh | 12-72 months | Quick disbursal, pre-approved offers | Higher rates for lower scores |
| ICICI Bank | 10.60% onwards | Up to ₹50 lakh | 12-72 months | Instant approval for existing customers | Processing fees up to 2% |
| Bajaj Finance | 10% onwards | Up to ₹55 lakh | 12-96 months | Flexible tenures, minimal docs | Higher rates possible |
| Axis Bank | 9.99% onwards | Up to ₹40 lakh | 12-84 months | Competitive rates, fast processing | Strict eligibility |
| SBI | 10.10% onwards | Up to ₹35 lakh | Up to 84 months | Low rates for govt employees | Slower for non-customers |
| Tata Capital | 10.99% onwards | Up to ₹35 lakh | 12-72 months | Transparent, good for self-employed | Limited branch network |
HDFC and Bajaj often rank high for speed and flexibility in 2026 comparisons.
Where to Get Instant Personal Loan
When you are searching for where to get an instant personal loan, in this case, digital lenders and apps are significant:
- Bajaj Finance is known to approve personal loans in 24 hours.
- HDFC in seconds for pre-approved loans,
- ICICI is also remarkable in approving instantly for the eligible.
- Apps like Paytm, PhonePe, KreditBee, and Freo offer quick approvals and disbursal in minutes to hours.
- NBFCs like SMFG India Credit provide paperless processes.
FAQs: How to Get Personal Loan
What is the minimum CIBIL score to borrow a personal loan in India?
The average lender requires a score of 750 and above, with some NBFCs going as low as 700 and above, but with a higher interest rate.
What would the process of getting my personal loan take me?
The instant alternatives can be financed within a few minutes to 24 hours, unlike the traditional applications, which may require one to four days.
Am I able to take a personal loan despite the fact that I do not earn a lot of money or have poor credit?
Yes, there are lenders who will deal with less-income (₹15,000+) or poor credit, but you will be charged higher interest and receive less money.
What is the list of papers required to take a personal loan?
Normally, you would be required to provide Aadhaar, PAN, salary stubs, bank statements within the past 3-6 months, and address proof. No pre-approved may be required.
Should he take a personal loan with a bank or an NBFC?
Good credit persons receive better rates in the banks, such as HDFC and ICICI, whereas loans are approved quicker and with more options in the NBFCs, such as Bajaj.
Conclusion
One can easily determine how to obtain a personal loan in India with the help of internet tools and comparison. Make sure that you are eligible, make sure to compare the offers to see the best rates, and under no circumstances should it be more than you can manage. Calculate EMI with the help of EMICalculator.AI and seek offers with your bank to repay loans quicker. It is always good to read the agreements so as not to be surprised.
