Bajaj Finance

• Current lowest personal loan interest rates start from 9.99% p.a.
• Compare 100+ personal loan banks at MyMoneyMantra and choose the best one.
• Check fees & charges of all top banks offering personal loans in India.
• Get flexible tenure of 36 to 84 months to repay the loan.
• Submit online loan application and get instant loan approval
• Personal Loan amount can be used for any personal purpose, including marriage, education, medical emergency, shopping, travel, etc.
• No collateral or security required as personal loans are unsecured loans.
• You can get a personal loan through the best instant loan app in India or through online lending marketplaces.

A personal loan is the best option to get access to funds in case of an emergency. Once you fulfill the necessary Personal Eligibility Criteria, you can meet any expense like medical emergency, travel needs, education fees, etc. with this simple, unsecured loan.

Here are different types of personal loans available in India:

• Travel Loan: These personal loan schemes are for people who love travelling. This loan is called by many names, including Travel Loan, vacation loan, and holiday loan. You can avail this loan to travel around the world, and pay the bills latrine affordable EMIs. You can also get travel insurance as an added benefit with this loan.
• Wedding Loan: Weddings in India come with a long list of expenses. It's once in a lifetime experience for everyone and to make it more memorable many people often need financial support. Therefore, many lenders have started providing Personal Loans for Weddings These loans are availed by the would-be brides and grooms or their family members to pay for the wedding related expenses like venue booking, catering, honeymoon vacation, etc.
• Festival Loan: These loans are offered for celebrating festivals, parties, and functions. Festival loans help you in preparing for the festivities and hosting parties.
• Consumer Durable Loan: As the name suggests, this personal loan variant is availed for the purchase of appliances or consumer durables.
• Pension Loan: Pension loans can be availed by retired personnel to fulfil their financial needs like paying medical bills, meeting daily expenses, etc. Under pension loans, banks provide a few times the amount of pension the pensioner has drawn in previous months before submitting the loan application.
• Home Renovation Loan: These loans are provided for the purpose of renovation, repair, purchase of new material, and other house-related expenses.
• Education Loan: You can use these loans for paying the tuition fees of your child, or any other big academic requirements like going abroad.
• Computers and Mobile Phones Loan: Many lenders nowadays are offering computer loans and mobile phone loans for the purchase of computers, laptops, and smartphones. Some lenders even offer insurance with the loan.

• The rate of Interest: The Rate of Interest on Personal Loans starts with 9.99% depending on your credit score, income and so forth.
• Loan amount: You can get a loan online for as low as 50,000 and as high as  50 Lakhs depending on your requirement and eligibility.
• Loan tenure: Personal loans are available for periods as short as 12 months. The average tenure for a Personal Loan is between 12 and 60 months, depending on the loan amount.
• Security: Due to its unsecured nature, collateral is not required.
• Loan turnaround time: A Personal Loan typically has the fastest turnaround time in the industry. Many banks personal loans online approval within 48 hours after submission of the online application.
• Processing fees: It depends on the individual bank. It usually ranges between 0.50%- 2% of the loan amount.
• Prepayment penalty: Banks charge prepayment penalty if you repay your Personal Loan before the determined period. The charges range between 1-2% of the outstanding amount on the date of closure.