Personal Loan Lenders


Personal Loan Lenders are the banks or other financial institutes that provide personal loans. A personal loan is a loan that is taken for any personal reason. The personal loan lenders need not ask for the end use or reason for the loan. Personal loan can be of both types secured or unsecured that is against any collateral or without any collateral. It depends on the loan borrower and the Personal Loan Lenders to decide which type of personal loan can be provided. Personal loans lenders mostly favour people with good and stable income to provide a personal loan of any type. In India almost all the banks and financial institutes provide for personal loans.

Banks that provide personal loan in India are: -

                     State Bank of India
                     Punjab National Bank
                     Axis Bank
                     ICICI Bank
                     HDFC Bank
                     HSBC Bank
                     Canara Bank
                     Punjab & Sind bank
                     Dena Bank
                     Yes Bank
                     Standard Chartered Bank
                     Karur Vysya Bank
                     RBS Bank
                     Citibank
                     Kotak Bank
                     Andhra Bank
                     ING Vysya
                     Corporation Bank
                     United Bank of India
                     Vijaya Bank
                     Bank of Baroda
                     Dhana Lakshmi Bank
                     IDBI Bank
                     Karnataka Bank
                     Oriental Bank of Commerce
                     Union Bank

NBFCs or financial institutes that provide personal loan in India are: -

                     Fullerton India
                     Bajaj Finance
                     Barclays Finance

Banks or financial institutes in India are generally very keen to provide personal loans as these loans has a comparatively higher returns for them as the interest rates on these loans are comparatively higher than any other kind of loans. The average interest rates on these loans may vary from 13.5% to 32% which is quite high than any other kind of loan. Apart from this there is processing fees for personal loan which may vary from 1% to 5% of the loan amount and also if you want to pay the personal loan amount before agreed time period then there will be a pre-payment penalty applied by the bank which can be from 1% to 4% of pre-closed amount. The amount of loan that can be provided for an unsecured personal loan can be from Rs. 50,000 to Rs 20 Lacs. And the amount of loan for secured personal loan is determined by the value of asset provided by the borrower as the collateral.






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