Personal Loan Forms: Fill & Download for Free

Well, nobody looks for a personal loan unless an emergency comes in. yes, no one would be recommending you to go for a personal loan due to high rates of interest. Borrowing from your friends and family can be a better option. However, if you are not able to find anything, this is your last resort.Hence, we have come up with some of the best banks to apply for a personal loan:State Bank of India personal loanIrrespective of your salary or even if you are self-employed, you can easily access SBI personal loan. You can get a minimum standing of two years. SBI is capable of offering personal loans in three different categories. This includes SBI Pension Loan, SBI Xpress Power Personal Loan and SBI Xpress Credit Personal Loan.SBI Pension LoanIf you are a pensioner from state or central government or form the defence, this loan is for you. You are able to draw your pension through any of the branches till the age of 76.SBI Xpress Credit Personal LoanThe bank offers this loan to the employees from certain entities maintaining their salary account in SBI banks. The entities can include sectors like state and central government, educational institutions that have national repute. Moreover, the entities can be profit-making state or central PSUs as well.SBI Xpress Power Personal LoanThe employees who are working with the state & central government, defence establishments, quasi-government, PSUs, defence establishments, educational institutions that have national repute can avail this loan.For this, the employees must have a minimum income of at least Rs. 50,000. However, the individuals do not need to maintain a salary account with the bank.The interest rates lie between 11.30% and 15.55%.HDFC Bank Personal loanYou can easily borrow money in between Rs. 50,000 and Rs. 40 Lakhs with no need of a guarantor.No matter if you are a government or a corporate employee, you can avail the personal loan schemes. Disbursement can take a maximum of 4 hours after the completion of the documentation. For the individuals who are existing customers of the bank, it will take only 10 seconds for approval.You are also capable of availing a critical illness or accident insurance as well.The interest rate can lie in between 15.50% and 21.50%.Axis bank personal loanAre you unclear about the repayment period? If yes, then you can go for Aixs bank personal loan. There is neither foreclosure nor any charge for part payment.The time you apply, you can choose a repayment period of 60 months for the loan. You won’t be facing any pre-closure charges if you intend to pay it earlier.The interest rate can lie in between 15.75% and 24%.Bajaj Finserv personal loanThose who are salaried professionals can avail Bajaj Finserv personal loan. You can proceed with the entire process online. Hence, that means you can instantly get the loan approval. It will take a maximum of 24 hours for the disbursement.There are several other features of this personal loan. After the very first EMI, you can repay the whole amount left.The interest rate can go from 12.99% to onwards.Bank of Baroda personal loanNot only the self-employed but also the salaried professionals can avail this personal loan. Well, it quite depends upon whether you are eligible or not. The maximum amount is Rs. 10 Lakhs for which the maximum tenure is not more than 60 months.However, we have found this bank most suitable for those who are looking for a loan for smaller amounts.Talking about the interest rates, the bank does not disclose it.Standard chartered bank personal loanAre you looking for the lowest interest rates? This bank offers a personal loan with interest rates starting from 10.89%. The interest rates can be in between 10.89% to 21% for an amount, not more than 30 Lakhs.So, the range for the interest rate is from 10.89% to 21%.Citibank personal loanThis bank prefers salaried professionals. So if you are among them, you can easily get the approval. Well, there are other benefits too. You can expect a lower rate of interest than those who are self-employed.Additionally, this loan can start with the lowest interest rate of 10.99% for the professionals who are maintaining their salary account with Citibank. It does also require the borrower to be employed in a reputed company.The interest rate ranges from 10.99% to 18.99%.So, it is clear that choosing a personal loan does not depend solely on interest rates. Therefore, you must consider other things like repayment charges and pre-closure charges as well.

Yes, you can get a loan of Rs.15 Lakh at the age of 21 years. You can get this loan either online or offline to meet your varied needs. But you would be glad to know that the actual loan amount eligibility is calculated by the lenders after taking into account many factors. Yes, before offering the loan amount to an applicant, the first thing that a lender does is to check the eligibility of an applicant, i.e. how much loan amount he/she can actually eligible to get. And, that can be done after taking into account many factors apart from age. Yes, factors like:IncomeCredit ScoreJob StabilityRelationship with a LenderTotal Work Experience matter a lot.Lenders use a basic formula to calculate an applicant’s loan amount eligibility. Let’s know more about the same below:Suppose, an individual is working in a reputed organization and earns a net monthly income of ₹60,000/-. Now, after meeting all his financial liabilities, he saves around 40%-50% (₹24,000- ₹30,000/-) of his monthly salary. The borrower would think how much personal loan can I get on my salary?Now, here the bank will assume that he is saving 50% of his monthly income i.e. ₹ 30,000. The saving can be used to repay the loan amount in the form of monthly EMIs. So, his personal loan eligibility can be calculated as follows:Required Loan Amount-₹1 lakhLoan Tenure- 5 yearsRate of Interest -10.75%Monthly EMI- ₹2,162Now let’s make a reverse calculation on his monthly saving of ₹30,000, considering ₹2,162 to pay a loan of ₹1 lakh. So, the calculation of personal loan will be:₹ 1 lakh x 30,000/2162 = ₹13.87 lakhs (approx.)Personal loan eligibility amount – ₹13.87 lakhs (approx.)This is the basic formula, which is usually used by the lenders to decide the actual loan amount an individual can get. However, as far as lenders are concerned, names like:HDFC BankICICI BankKotak Mahindra BankStandard Chartered BankSBIIndusInd BankThese are the lenders, which are the best known for offering the loan amount of Rs.15 Lakh to the applicants so that their varied needs can easily be fulfilled.Hope this helps!

In today’s consumer world one of the most popular financial products for various types of uses is personal loans from banks and non-banking financial institutions. Among these loan providers borrowers will choose the best bank according to their loan suitability. Some of the common criteria considered by the borrower to decide the most suitable bank for personal loan in India are interest rate offers, loan approval process, eligibility factors, offers and discounts, pre-closure and part payment facilities, minimal and less complicated documentation.These are the top banks in India for personal loan. Each of these banks has lots of fund contribution to the economy and borrowers go for the one that best suits their needs.Banks and non-banking financial institutions offer unsecured loans to applicants in the form of personal loan based on their CIBIL score. The better you have CIBIL score, lower will be the rate of interest on the loan plus high loan amount will be sanctioned by the bank. High CIBIL score showcases the financial stability and loan repayment capacity of the borrower. If the bank is confident of the borrower’s financial stability, they will reduce charges and rate of interest as the risk of loss of money is low in such cases.In India, it is possible to get loan amount ranging from Rs.50,000 to Rs. 5,00,000 as unsecured loan. Personal loan facility can be enjoyed by salaried and self-employed individuals in India. However, the eligibility criteria, loan amount, rate of interest and documentation will slightly vary.Here are some of the best banks in India that are most suitable for personal loans:Best Personal loan Interest Rates June 2017Standard Chartered 10.99 – 14.49%ICICI Bank - 11.70% – 18.85%HDFC Bank - 11.29% – 19.50%SBI - 11.95% – 16.55%Kotak Mahindra - 11.50% – 19.65%Axis Bank - 15.00% – 20.00%Bajaj Finserv - 11.99% onwardsStandard Chartered - 11.99% – 13.49%Fullerton India - 16.00% – 32.00%IndusInd Bank - 14% – 16.5%Best Personal loan as Per, Processing fee ChargesICICI Bank - 1999 to 2.50%HDFC Bank - Rs 999/- for Special companies Else 1% – 2.5%Bajaj Finserv 2.00% – 2.5%Kotak Mahindra ZeroSBI - 2.00%-3.00%Axis Bank - 2.00%Standard Chartered - Zero for allFullerton India - 2.00%IndusInd Bank - 1-2 %Best Personal loan based on Prepayment ChargesBajaj Finserv - Upto 4.00%Axis Bank - NilSBI - NILStandard Chartered - upto 2.00%HDFC Bank - Zero (For LA-10 Lakhs & Above with Salary 75k) else- 4%Fullerton India - Upto 6.00%Kotak Mahindra Bank - Zero above 10 lakh, Otherwise 5.00%ICICI Bank - 5% Or Nil (For Loan Amount More Than 10 Lacs)IndusInd Bank - upto 4.00%Let’s now do a quick comparison between the top 5 banks in India for personal loan:HDFC bank:HDFC bank is top in the list of best banks in India. With low rate of interest and least documentation, this bank has highest rate of customer satisfaction as well. HDFC bank offers personal loans starting from 10.99% onwards and loans will be approved within 2-10 business days. This bank also has introduced 10 seconds paperless loan for promoting personal loans across the country. The bank is very transparent in its processing and also is known for its quick loan approval process. There are lots of special offers and discounts offered to HDFC bank customers in various forms.ICICI bank:Personal loans are offered by ICICI bank mainly for 3 specific purposes. The three main purposes are holiday loans, home renovation loans and for wedding purposes. When it comes to these needs, choosing ICICI bank will be the best option. Though the rate of interest on personal loan starts at 11.29%, it is at reduced balance method. This type of personal loan is offered for both self-employed and salaried individuals. With simple repayment options, ICICI personal loan customers are generally very happy with their personal loan experience.State Bank of India:Personal loans are offered by this bank through different ways. Some of the most popular ones are SBI Saral Personal loan, SBI Xpress Credit loan, SBI Festival personal loan and Loan to pensioners. The borrower can get up to 25 times of their monthly salary as loan amount from this bank. Also SBI bank is considered as the most trustworthy bank for all types of loans. The rate of interest is between 12.45% and 14.95% however lot of concessions and offered are provided by this bank. In order to be eligible for SBI bank personal loan you must either be a salaried person or should be a self-employed individual in professions such as Doctor, Architect, Engineer, CA or MBA with at least 2 years’ experience.Axis Bank:A bank that is known for shortest TAT- Turn Around Time is Axis bank. This bank offers quickest personal loans. Unless there is regular source of income, loan will not be provided by this bank. Interest rate on personal loan starts at 11.49%. Axis bank offers reward points on personal loan repayment, these reward points can be redeemed for online shopping and gift vouchers.Punjab National Bank:Personal loan is offered by Punjab National Bank for public and for pensioners. Thus there are two schemes called - Personal loan scheme for pensioners and Personal loan scheme for public. Interest rate at this bank starts from 11.9% and this is one of the most competitive rate at which personal loan is offered in the market. Loan is offered from Rs. 25,000 to Rs. 40 lakhs or 20 times of the monthly salary (whichever is lower). The loan for pensioners is especially beneficial for borrowers such as defense personnel, state or central government employees and for self-employees professionals.It is easy to get a personal, however deciding where to get it from is what matters. Do a thorough research on the bank that you wish to take personal loan from. Do comparison with its competitors to find the best banks that offers personal loan according to your requirements. There is no need to compromise when there are so many best banks in India to offer personal loans.