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Personal Loan

Funds for life's moments

Unsecured personal loans for weddings, travel, medical needs or any planned expense — flexible, with minimal documentation.

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What is Personal Loan?

A personal loan is an unsecured loan you can use for almost any purpose. There's no collateral; approval is based mainly on your income, employer and credit profile. You repay through fixed monthly EMIs over a chosen tenure.

Who it may suit

Salaried individuals with a steady monthly income
Those needing quick funds without pledging an asset
Planned needs like weddings, travel, education or medical expenses

Documents you'll typically need

KYC — PAN & Aadhaar / address proof
Salary slips (last 3 months)
Bank statements (last 6 months)
Form 16 / latest ITR

Common reasons for delay or rejection

Low credit score or recent missed payments
High existing EMI burden (high FOIR)
Frequent recent loan enquiries

Current Market Rates

Indicative interest rates

Approximate current market ranges as of June 2026. Your actual rate depends on your profile and is decided by the respective bank or NBFC.

Starting from

10.00%

per annum*

Typical market range

10% – 24% p.a.

Banks like HDFC, ICICI, Axis and IDFC First currently start around 9.99%–10%. Most borrowers with a good (750+) CIBIL score and stable income see rates between 11% and 16%. Personal loans are usually fixed-rate, so the rate stays the same through the tenure.

*Indicative current market rates as of June 2026, compiled from publicly available sources. Shah Communication is a financial consultancy — the final interest rate, eligibility and terms are decided solely by the respective bank or NBFC based on your profile.

Overview

Key highlights of Personal Loan

A quick snapshot of what to expect when you compare personal loans across banks and NBFCs in India.

Current lowest personal loan interest rates start from 10.50%* p.a.
Compare 100+ personal loan lenders at Shah Communication and choose the best fit.
Check fees & charges of all top banks offering personal loans in India.
Get a flexible tenure of 36 to 84 months to repay the loan.
Submit an online application and get quick, instant-style approval.
Use the amount for any personal purpose — marriage, education, medical, travel & more.
No collateral or security required — personal loans are unsecured.
Apply through the best instant loan apps or online lending marketplaces.

Compare Lenders

Best banks & NBFCs offering Personal Loan

Indicative loan amounts, interest rates, processing fees and tenures from leading lenders. Final terms are decided by each bank or NBFC based on your profile.

Bank / NBFC	Loan Amount	Rate of Interest	Processing Fee	Max Tenure
HDFCHDFC Bank	₹50,000 – ₹40 Lakhs	10.85%* – 24%*	Up to ₹6,500 + GST	60 months
IIBIndusInd Bank	₹50,000 – ₹15 Lakhs	10.49%* onwards	Up to 3.50%* + GST	84 months
ICICIICICI Bank	₹50,000 – ₹50 Lakhs	10.85%* – 16.65%*	Up to 2%* + taxes	72 months
AXISAxis Bank	₹50,000 – ₹40 Lakhs	11.10%* – 22%*	Up to 2%* + GST	84 months
SBISBI	₹1 Lakh – ₹35 Lakhs	11.45%* – 14.60%*	Nil (limited period offer)	84 months
KMBKotak Mahindra Bank	₹50,000 – ₹35 Lakhs	10.99%* – 16.99%*	Up to 5%* + taxes	72 months
YESYes Bank	₹50,000 – ₹50 Lakhs	11.25%* – 21%*	Up to 2.5%*	72 months
HSBCHSBC	₹75,000 – ₹30 Lakhs	10.15%* – 16%*	Up to 2%*	60 months
BAJAJBajaj Finserv	₹20,000 – ₹55 Lakhs	16%* – 31%*	Up to 3.93%*	96 months
L&TL&T Finance	₹50,000 – ₹30 Lakhs	11%* onwards	Up to 3%* + taxes	72 months
ABCAditya Birla Capital	₹1 Lakh – ₹40 Lakhs	10%* – 32%*	Up to 4%*	84 months
TATATata Capital	₹40,000 – ₹35 Lakhs	11.99%* – 29.99%*	Up to 5.5%* + GST	72 months
ZESTZestMoney	₹5,000 – ₹25 Lakhs	14%* onwards	As applicable	36 months
MVMoneyview	₹5,000 – ₹10 Lakhs	14%* p.a.	As applicable	60 months

*Rates, fees and charges are indicative, vary by lender and applicant profile, and are subject to each lender's policy at the time of application. Logos are trademarks of their respective owners, shown for identification only.

Why Personal Loan

Features & benefits of Personal Loan

What makes a personal loan a flexible, go-to option for planned and unplanned expenses.

📉
Rate of interest: Starts at 10.50%* p.a. depending on your credit score, income and other factors.
💰
Loan amount: Borrow as low as ₹20,000 and as high as ₹1 Cr, depending on eligibility.
📅
Loan tenure: Available for 12 to 84 months on average.
🔓
Security: No collateral required — personal loans are unsecured.
⚡
Turnaround time: Quick approvals — some within 48 hours of application.

Choose a Purpose

Types of Personal Loan

Personal loans in India are often tailored to a specific need. Here are the common types.

🧳

Travel Loan

For travel lovers — also called vacation or holiday loans. Covers travel expenses, often with travel insurance.

💍

Wedding Loan

Covers wedding expenses like venue, catering or honeymoon — for yourself or family members.

🎉

Festival Loan

Short-term loans for festival celebrations, parties or related expenses.

📺

Consumer Durable Loan

For electronics and home appliances such as TVs, refrigerators or washing machines.

👵

Pension Loan

Offered to retirees for medical or daily expenses — usually a few times the monthly pension.

🛠️

Home Renovation Loan

For home improvement, repairs or purchasing renovation materials.

🎓

Education Loan

Covers tuition fees or academic expenses, including studying abroad.

💻

Computers & Mobile Loan

For gadgets like laptops, computers and smartphones — some lenders include insurance.

Good to Know

Charges & eligibility

Actual rates, processing fees and charges vary by lender and are confirmed at the time of application.

📉

Interest Rate

Depends on your credit profile, income and the lender. We help you compare suitable options.

🧾

Processing Fee

A one-time fee charged by the lender to process your application.

✅

Eligibility

Based on income, existing EMIs (FOIR), credit score, age and employment type.

Am I Eligible

Eligibility required for Personal Loan

Typical criteria lenders look at. Exact requirements may differ from bank to bank.

Occupation	Salaried employees and pensioners
Age	Minimum 21 years at application; maximum 60 years at loan maturity
Monthly Income	Minimum ₹20,000
Job Continuity	Minimum 2 years in job
ITR	Last 2 years' Income Tax Returns
Credit Score	700 and above preferred

Personal loan eligibility criteria may differ from bank to bank.

Keep Ready

Documents required for Personal Loan

Having these ready helps speed up approval and disbursal.

🪪 KYC Documents

PAN Card
Aadhaar Card
Driving Licence
Voter ID
Passport
Registered Rent Agreement

🧾 Income Documents (Salaried)

Salary slips for the last 6 months
IT Return with Form 16 for the past 2 years
Bank statements of the last 6 months showing salary credits
Employment certificate from current employer

What Matters

Factors affecting Personal Loan eligibility

These are the main things lenders weigh when deciding your loan amount and rate.

💵
Income: Higher income increases your eligibility for a larger loan amount.
🏢
Employment type: Salaried individuals in reputed companies are preferred over self-employed applicants.
📊
Credit score: A score of 700 or above improves approval chances and offers better interest rates.
📈
Work experience: Longer job stability builds confidence in your repayment capability.
⚖️
Debt-to-income ratio: Too many existing loans reduce your repayment capacity.
🎂
Age: Applicants between 21 and 60 are generally eligible; younger applicants get a longer repayment period.
🔁
Employment stability: Frequent job changes can negatively affect eligibility.

FAQ

Personal Loan questions

How much personal loan can I get?

It depends on your income, existing EMIs and credit score. Use our eligibility checker for an indicative estimate.

Is collateral required?

No — personal loans are unsecured, so no asset or guarantor is pledged.

Why is my rate higher than the starting rate?

Personal loan rates are heavily driven by your CIBIL score, employer category and income. The lowest rates go to 750+ scores at reputed employers.

Does Shah Communication approve the loan?

No. We are a consultancy and assistance platform — final approval, rate and terms are decided by the bank or NBFC.

Ready When You Are

Let's find the right option for you

Check your indicative eligibility, compare suitable options and get expert guidance at every step.

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