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Personal Loan in India at Lowest Interest Rates - Compare & Apply Online

August 2018 deals for Unsecured Personal Loan online from Rs 20,000 to Rs 20 lakhs with interest rates starting from 10.99% given by individual lenders, major banks and financial institutions according to your profile. Apply for an Online Personal Loan now.

A personal loan is unsecured credit advanced by institutions and/or individuals without requiring a security or an asset guarantee. The loan is given based on an individual’s credit and financial analysis with expectation of a return within a fixed tenure. While not necessary a personal loan application is qualified for approval based on a variety of purposes including travel, marriage/weddings, medical, home renovation, goods purchases, debt consolidation and others.

The basic requirement to get a loan sanctioned is a good credit history, adequate salary and a balanced bank record. Other factors like years of employment, company you work for, city you stay in, etc will also determine important factors like eligible amount, tenure and interest rate. These interest rates vary from around 10.99% to 28% across different banks and NBFCs. While interest rates for most formal financial institutions are calculated on a reducing balance methodology, other type of loans have a fixed and flat rate based on the amount and tenure.

Loans are approved in the range of Rs. 20,000 to Rs. 20,00,000 depending on the type of requirement and eligibility. To be eligible for a loan, a person must be of 21 years age and have a stable source of income. Financial institutions provide loans to salaried professionals, businessmen as well as self-employed professionals.

Basic Documents Required for Personal Loan

  • Three passport size photographs
  • ID proof – Passport/Voter ID/Aadhar or Drivers Licence
  • Residence Proof – Passport/ Landline Bill/ Post-paid Mobile Bill/ Rental agreement or Bank Statement
  • Pan Card copy
  • Age Proof – Passport/ Drivers Licence/ School Certificate or Pan Card copy
  • Income Proof - Latest 3 months salary slips
  • Banking Statement - 6 months bank statements
  • Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16

Basic Eligibility Criteria for Personal Loans

  • Age of the applicant should be between 21-60 Years
  • Salaried individual with minimum income of Rs 15,000. Salary bracket would again depend on the city you live in and the company you work for. Eg. If you are in a Metro the salary requirement will be higher than non-metro and again if you are working in a top MNC the salary requirement would be lesser than one working with a startup.
  • Should be staying in the city for at least 1 Year
  • Total work experience should be at least 2 Years
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc

Compare now to check the best interest rates online for your personal loan requirement

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There are multiple banks which offer a personal loan such as HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Citibank, RBL Bank and NBFCs such as Bajaj Finserv, Tata Capital, Fullerton and many more which offer personal loans which are all unsecured loans. So if you are wondering how to get a personal loan or are looking for instant personal loan online approval then read more and either call us or leave your details using our simple form.

Also the interest rates for your Personal Loan depends on a lot of factors according to your profile. They vary from your salary to your credit history and includes many other important parameters.

Personal Loan Interest Rates Explained

Personal loan interest rates is one of the first parameters that one considers along with other value adds like pre-closure options, part payments etc. Interest rates are the rate at which the bank is willing to lend money to you which in turn is their source of income. Let us have a basic understanding of how personal loan interest rates are calculated.

The Bank has deposits from customers like you in the form of Fixed Deposits, balance in the savings account and so on. The bank has a certain payout for these deposits. This payout is considered as the cost of capital for the banks and they lend at an interest higher than their cost of capital accounting for the risk involved with the customer who they are lending to.

To elaborate this further with numbers, consider a bank giving you 8% for the fixed deposit that you have with them. The bank would ideally like to make an addition of 6% to 8% on this fixed deposit. Having an interest rate of 16% for all customers again is not justified as the bank is not accounting for the company where the borrower is working, the borrower's salary, their past credit history and so on. Therefore the interest rates for personal loan vary based on multiple criteria and different categories.

To take this further, different banks have interest rate offers for different profiles. Personal loan interest rates are usually fixed for a tenure which varies from 1 year to 5 years. Also, the interest is calculated on the principal outstanding and not the on the initial loan amount. This form of interest rate is termed as fixed and reducing. Different banks have offers on a monthly basis to attract the cream of customers. This could be as offer for companies, for loan amount taken, for a certain salary or even for a transfer of a loan from one bank to another.

Personal Loans Interest Rates from multiple banks

HDFC Bank Interest Rates
10.99% to 20.75%
ICICI Bank Personal Loan Interest Rates
10.99% to 17.99%
Axis Bank Personal Loan Interest Rates
15.50% to 24.00%
Citibank Personal Loan Interest Rates
10.99% to 16.99%
Kotak Bank Personal Loan Interest Rates
10.99% to 17.99%
Standard Chartered Bank Personal Loan Interest Rates
10.99% to 14.49%
IndusInd Bank Personal Loan Interest Rates
12.00% to 19.00%
RBL Bank Interest Rates
14.00% to 21.00%
Capital First Personal Loan Interest Rates
12.00% to 18.00%
Tata Capital Personal Loan Interest Rates
11.49% to 21.00%
Fullerton India Personal Loan Interest Rates
14.00% to 33.00%

The above Personal Loan interest rates are approximate only. Final interest rates will vary based on your monthly takehome salary, your current experience, your credit history and more parameters etc.

Dhiren Makhija
Co-Founder, Cashkumar

Some simple tips while applying for a Personal Loan

While personal loans look exciting there are a few points that one should keep in mind before proceeding with one,

Explore multiple options – Do not go ahead with the first personal loan offer that comes your way. Using our platform you can explore different options based on your eligibility which will help you make an informed decision. Apply for personal loan online now.

Do not focus only on the interest rate – While the interest rate is important please do note the processing fee as well as the pre-closure charges that would be applicable with each transaction. In case you propose to pre-close your loan, choosing a bank which has no pre-closure charges would make more sense even though the interest rate might be a little higher. Currently Axis Bank does not have any pre-closure charges, provided the loan has been serviced for a certain tenure.

Do not hide key information, as the banks will find out and that would result in a lot of mental trauma as well as financial overheads.

Do not borrow personal loan for investments as this could backfire.

Calculate your repayment potential before taking a loan. Though you might be eligible for a higher loan amount but you are not sure if you could pay the existing projected EMI’s please reconsider taking a smaller amount. A default or delayed EMI payment could result in effecting your CIBIL Score which will hamper the possibility of you getting loans in the future. You can always check on the EMI’s that you would pay using our EMI calculator. You will also find a lot of information on EMI at

There are multiple signatures that you would need to sign on the Bank agreement. Please ensure that you read all the Terms & Conditions before signing the document. In case of any queries, please do the check with the bank officials who would be more than happy to help you.

The final and most important suggestion is not to approach and apply for a loan with multiple banks/NBFCs. If your applications are rejected, it could affect your credit rating in a major way. Instead, visit an aggregator site like Cashkumar and we can suggest which banks/NBFCs will accept or reject your application and also the best options among them. It will save you credibility, physical trouble and mental distress along with providing you the best deal available.

We also help you get personal loans in India from private finance through the vast network of lenders that have been aggregated on this platform. So whatever your need whether it be to check the best personal loan companies in India or get in touch with personal loan lenders in India of the individual capacity, we will be able to help you with the request. It is also prudent as a loan seeker to be cautious of personal loan agents in India or any other city. While most are honest and try to get you a loan, they might not be able to compare and get you the best deal at all times. Also when you search for personal loan agents Bengaluru, you might not get in touch with the best of them.

Cashkumar is a platform which helps you get in touch with every kind of lender on a single platform without the hassle of contacting and going through an agent. What is more is that our services of free of charge and you do not have to pay us anything in terms of a fee or a percentage. So for all your needs and requirements and to get a good deal for a personal loan in India, contact us through our site of call us on the numbers provided. We will help fulfil your requirement whether through a bank, NBFC, peer-to peer lending, private lenders or private loan companies in India.

Cashkumar Personal Loan Reviews

Cashkumar Personal Loan is rated     4.2 / 5.0  by 49 users

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Your reviews motivate us and help us make our service even better

I really like the way these people help with loans. I got a loan from kotak and cashkumar called me every day to update on whats happening. Will recommend them to everyone.

Full marks to the cashkumar team for getting balance transfer with kotak bank. i didnt know that old loans interest rates can be reduced but they informed me and help get all loans + fresh loan at a lower rate.

iam very happy to got this loan from hdfc bank. it is a balance transfer loan for a very low interest rate. i also got 1 lakh which is helping me. thanks sir

I am happy they have helped in getting loan from RBL bank for sum of Rs. 2 lakh. the cashkumar did a direct approval online and then bank people came and took documents. good simple process for me.

clearly the nicest team i have interacted with for customer service. i had a lot of loans which i transferred to kotak at 11.29% interest rate. one girl these is really good as she kept in touch with me even if the bank did not. thanks to the whole team

iam happy with the overall service provided by cashkumar. always in touch and kept me updated on the loan status. recommend people to use it.

I like it when people are responsive and cashkumar is very good at this. Called quick, give information and processed loan application fast. Got a high value debt consolidation with Kotak bank. Really delighted!!

can you let me know if i can get a loan with 6 months of experience as iam in urgent need of money right now. iam working with an IT company in mumbai


Hi, We cannot advice on this until we have some more details on your profile. Please call us on the number given in the website or place a request for a loan. We will be glad to help and process the request if possible.

Cashkumar Team

came across this site while i was searching for a personal loan on the net. their service is good and they work with different banks. someone from their team actually calculated the savings i will have for loans with part payment versus lower interest rates so i could choose the best offer. got loan from tata capital even though it was a slightly higher rate because of part payment.

This guys are bullshit....They spoiled my 40+ referrals..Please stay away from this site!


We request you to check your dashboard on why your referrals have not gone through. Please check the source of your leads, as all of them have expressed no interest in availing a loan or have applied elsewhere. Thanks for being a referrer on Cashkumar!

Cashkumar Team

Am not generally liberal in appreciation nor do i write reviews very ofte. Cashkumar is certainly an exceptional company when it comes to customer service.I used their services for a balance transfer and the way they conducted themselves and follow-up on the disbursal and the post disbursal was commendable.

With so many options and phone calls that we receive it is difficult to choose. This website guys told me I will get 11.69 if I transfer my loan to icici bank. New loan was high interest rate. So i got new loan also for 11.69%.

Too slow. long time to get loan. they are calling everyday but no one has come to collect docs. u shud improve. otherwise people will not take a loan.

There are a few sites around but i had great satisfaction working with cashkumar. even though i applied to many sites they called me immediately and gave me a good offer from HDFC bank for 12.5% interest rate. I got the money yesterday. special thanks to divya from their team for calling me daily and giving status updates.

Right kind of service with these guys. Iam really happy and glad to have contacted cashkumar for my loan. They are transparent and really want to help customers. The guys were friendly and told me to check elsewhere if i got a better deal. Good to see honest companies like this.

got 1.5 lakh from icici bank for personal loan with cashkumar. all process was good and i got instant approval for the loan. they followed up with me for taking documents. i wanted 2.5 lakh but got 1.5 lakh.

am ok with getting loan here. they asked for a lot documents with tata capital. i finally got 2 lakhs sanctioned by them. the team is helpful but even they cant do much during document process

If you want a loan in Mumbai...take note guys!!! Good people these. I recommend with lots of wishes. good going Cashkumar.

i took a loan from hdfc for 3 lakh. i stumbled across them when i was searching for personal loans in chennai. they called me after i placed a request and informed me about the offers from different banks. i applied to some other sites as well but found the people at cashkumar quick, informative and friendly.

I was really happy to get my loan through cashkumar. got instant approval from icici bank and the documents were picked up the very next day. they processed the loan within a week at 12.5% interest rate.

I am happy with cashkumar as i got a loan with tata capital for 2 lakh with part payment and pre-closure facility. the loan amount was credited into my account on saturday.

haha...what a nice surprise. havent seen a company follow up so much. they made sure everything went well. i would get a call every afternoon from divya with an update. lovely people. god bless!!

not happy with the entire process. it took so long for loan to get through and they could not help. said it will happen soon but bank did not credit amount for a loan time

The service is nice and the people are good. but they get a loan from bank itself. it takes a lot of days to get the loan. why they are not collecting forms also.

This is a really good site to get personal loans as i can say from my own experience. they dont just show interest rate but call and tell you the banks which will give the best offer. i also got regular updates from them on the loan status till the money was in my account. big thumbs up!!

Good site to get loans online. My Personal loan was processed in a week's time and I got best offers for being an Infosys employee. Good work team!

It was a smooth process till the documentation and approval but the disbursal took a very long time. This could be due to multiple holidays last week. Happy with the support. Thanks.

Diligent follow ups and quick process by the team, helped me get my Personal Loan with IndusInd Bank in time. Thank you Cashkumar!

Such a long time it took for loan to be credited. Dont know what the bank guys were doing. Cashkumar people daily said we will check but nothing happens. atleast they called

I checked with Cashkumar whether there are options or a chance that they work with personal loan agents in Bangalore hsbc to get a requirement fulfilled but they took my requirement and proposed different options for a loan. A very good service from the team.

I am searching for a loan from personal loan agents in Bangalore hdfc sir I want help will you help me. Pls let me know.


Hello Velkumar, Please call us on +91 9535800900 or mail us at

Cashkumar Team

I was looking for personal loans bajaj finance in Bangalore and there were many options available to me. But cashkumar personally contacted me after I placed a request and helped me through the entire process from application to document collection.

I got two options to take a loan which was through the online method and the way of icici bank personal loan agents in Bangalore but finally the online method through Cashkumar gave me a better rate of interest

I thought I was contacting Cashkumar as axis bank personal loan agents in Bangalore when I searched on google and they got me loan from that bank in a quick and easy way.

I was looking for sbi personal loan agents in Bangalore and came upon this site which provides loan from everyone. I contacted them and got a loan at a very good interest rate from hdfc bank itself. Thanks to cashkumar for arranging this.

Easy platform and great service. Thanks for helping me really quick. Shall recommend to my friends for certain.

Thank you for your help on a loan. Needed it to clear my credit card outsandting and this sure helped me a great deal. It was also a great deal with ICICI. Thanks a lot. Cheers!

A fancy marriage requires splurging a little more and you guys helped me with it. Thanks a lot for my perosnal loan which helped me with a memrable experience for the rest of my like. The HDFC folks were also very supportive and the process was very smooth.

I needed couple of lakhs from my dad's knee operation and you guys helped me in quick time. The operation was successful and my dad is up and running (literally). It sure is a feel good when money can help and you gusy sure helped me get t his personal loan in quick time. Thanks a ton.

I was looking at renovating my house with a modular kitchen, new flooring and a mini lawn. The overall cost was approximately 8 lakhs and I had a hunch that I would get a lon for rennovating my house. A quick seach helped me find you guys and you sure did a good job in helping me with the best offer on my perosnal loan. The interiors is on right now and I woudl remember you guys everytime someone appreciates the house. Thanks for the quick support and turn around time. Cheers!

With my kids admission to a school round the corner, I needed a quick loan to account for a few expenses. I managed to get that 75,000 very quick which helped me pay up for a few things. I also appreciate the prompt supoprt through the process. Thanks again.

I was planning a travel with my family to Europe from the 15th August to the 4th of September. I had budgeted for approximately 6 lakhs but the spend was not over shooting the budget by approximately 2 lakhs. Thants when a friend told me about personal loans that can be used for travel. I guess the travel loan was a blessing in disguise as I got to do morethan what I had initially planned with my family. Thank you Cashkumar team for assisting me on this. Also, thans for the great offer on the currency exchange bit.

Quick and prompt. Very happy with your service and turn around. Thanks a million. Hope you do more than personal loans going forward.

A medical emergey in the family couple of weeks back ended up in I running helter skelter to arrange for money or a personal loan. A medical loan search heled me identify a good option via you guys. Thank you for helping me in quick time. May no one need a peronal loan for medical purpose but if they do, I am sure you guys would be of great help

Stumbled upon Cashkuamar on a quick search. I had never heard about you guys and I was skeptical if I would get a personal loan quickly. I must admit that you guys sure surprised me. I was very happy with the offer and the turn around time. All the best to you guys.

Getting a personal was a breeze. I applied with Cashkumar and go a call back in less than 20 minutes. The team highlighted the process and also gave me some sound advice on the do's and don't's about a personal loan. Got my loan from Kotak in quick time and the process was very smooth. I sure would recommend you guys to my friends. Good job!

I guess one of the mistakes is to just look for a personal loan provider and go with the first one. In thiis case, I was well guided on which would be the best option and the way forward on the proccess. I applied for a loan and based on my eligibility I was suggested to take a loan from ICICI and I sure got a good deal. The complete exercise took about 5 days and CK team and ICICI guys were very prompt. Thanks for the help

The good thing about cashkumar is that they keep in touch with you no matter what. Otherwise it is the same as banks have same process

They have quoted a really high interest rate which is ridiculous. Not satisfied cashkumar

Personal Loan by Cashkumar has been rated   4.2 / 5.0  by 49 users

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