A personal loan is one of the most convenient financial tools to manage urgent or planned expenses like a wedding, home renovation, travel, medical emergencies, or debt consolidation. With numerous banks and NBFCs offering competitive loan products, choosing the best personal loan in India can help you save more while getting the funds you need—fast.

In this blog, we’ll help you explore the top lenders, interest rates, eligibility, and how to apply online quickly and securely.

What Makes a Personal Loan the Best?

The best personal loan isn’t always the one with the lowest interest rate. It combines multiple factors:

Competitive interest rates
Fast disbursal (within 24–48 hours)
Flexible repayment tenure
Minimal processing fees
Transparent charges and terms
Simple, digital documentation
High loan approval rate

Top Banks & NBFCs for Personal Loans in India (2025)

Here’s a comparison of some of India’s best personal loan providers this year:

Lender	Interest Rate (From)	Loan Amount	Tenure	Approval Speed
HDFC Bank	10.50% p.a.	₹50K – ₹40 Lakh	1 – 5 years	Within 48 hours
ICICI Bank	10.75% p.a.	₹1 L – ₹50 Lakh	1 – 6 years	24–48 hours
SBI Xpress Credit	11.00% p.a.	₹25K – ₹20 Lakh	Up to 6 years	3–5 days
Axis Bank	10.99% p.a.	₹50K – ₹25 Lakh	Up to 5 years	2–3 days
Tata Capital	10.99% p.a.	₹75K – ₹25 Lakh	Up to 6 years	Within 2 days
Bajaj Finserv	11.00% p.a.	₹1 L – ₹25 Lakh	Up to 7 years	Same-day available
SwipeLoan	11.50% p.a.	₹1 L – ₹10 Lakh	Up to 5 years	Instant online

*Note: Final interest rate depends on your credit score, income, and lender policies.

Who Can Apply for a Personal Loan?

Personal loans are suitable for:

Salaried professionals
Self-employed individuals and business owners
Applicants with a good credit history
Anyone with a stable monthly income

Eligibility Criteria

To qualify for a personal loan in India, most lenders require:

Age: 21 to 60 years
Income: Minimum ₹20,000–₹30,000/month
Credit Score: 700+ preferred
Employment: Salaried or self-employed with 1+ years’ experience

Documents Required

Getting a personal loan is easy with minimal documentation:

PAN Card
Aadhaar Card or Address Proof
Salary slips or ITR
6-month bank statement
Passport-sized photo (optional)

How to Apply for the Best Personal Loan Online

Applying through platforms like SwipeLoan makes the process seamless:

Visit SwipeLoan.in
Choose your loan amount and repayment tenure
Fill in basic personal and income details
Upload required documents
Get instant approval and quick disbursal!

Tips to Get the Best Deal

Check your credit score before applying
Compare offers across multiple banks/NBFCs
Choose a shorter tenure if possible – lower interest payout
Negotiate processing fees and prepayment charges
Apply only if you're eligible to avoid rejection

When Should You Take a Personal Loan?

Personal loans are a great choice for:

Medical emergencies
Wedding planning
Home improvements
Higher education or skill-building
Travel plans
Paying off high-interest credit card debt

Conclusion

Choosing the best personal loan in India means finding the right balance between interest rates, approval speed, flexibility, and transparency. Whether you need ₹1 Lakh or ₹10 Lakh, a well-chosen personal loan can help you meet your goals without financial stress.

With platforms like SwipeLoan, you can compare, select, and apply for the best loan — all in just minutes. TO KNOW MORE:

Best Personal Loan in India