5 Popular Personal Loans Of 2019

By BankBazaar | April 20, 2019

Feeling broke? We’ve handpicked 5 popular Personal Loan offers from top banks to turn things around! Check them out! 

5 Popular Personal Loans Of 2019

Struggling with month-end money blues? Cheer up! Here’s a list of 5 popular Personal Loans that offer low-interest rate, e-approval, balance transfer facility and much more. Check them out!

BB Tip: Make sure you have a repayment plan in place when you opt for a loan.

Here are a few reasons why a Personal Loan makes sense:

  • It’s easy to get a Personal Loan as compared to other loans. However, keep in mind that one of the requirements is a good Credit Score.
  • It’s an unsecured loan. You don’t need to mortgage any of your assets or provide collateral security to get a Personal Loan. You don’t even require a guarantor.
  • You can use a Personal Loan as you wish. But remember, you have to pay it back on time.
  • Getting a Personal Loan doesn’t require a lot of paperwork. Only your ID proof, income proof, and address proof will be required.
  • Your application gets approved quicker than you can take a shower! So, no more long waiting periods. Woohoo!
  • When it comes to Personal Loans, you have a lot of options too. Compare between different lending institutions to find one that suits you best.

If you’re looking to bag the best Personal Loan deal, here are a few tips:

  • You need to stay updated. Shop around for the best interest rates and special offers.
  • Don’t forget to compare your options. For example, Bank A may offer a better interest rate than Bank B. But, Bank B may offer a multitude of other benefits. Different financial institutions offer different schemes. Do your homework and choose the best one.
  • Keep all the necessary documents handy. Good opportunities knock at every door, but only once. And you wouldn’t want to miss a good deal because you were missing a document.
  • Your Credit Score plays a big part when it comes to getting a Personal Loan. Before you apply for a loan, make sure that you have a worthy Credit Score. How? Pay your bills on time, clear your outstanding debts and don’t apply for too many loans at the same time.
  • You can get the best deals during festivals and towards the end of a financial year. Subscribe to our newsletter here and we’ll notify you when we have special offers on our financial products.

Additional Reading: Factors Affecting Your Personal Loan Application

Well, now that you’re all wised-up about Personal Loans, here are 5 popular Personal Loans for the year (in no particular order):

IDBI Bank

  • Attractive interest rate starting from 12.55% onwards. Interest rate doesn’t change throughout the loan tenure under any circumstance
  • E-approval and balance transfer available
  • No guarantor required
  • Top-up loan available
  • No part payment fee
  • Availability of pre-closure option

Kotak Mahindra Bank

  • You’ll love the fixed interest rate starting at 11.25%
  • Take advantage of e-approval and doorstep service
  • You can also avail top-up loan and balance transfer facilities
  • No, you don’t need a guarantor to get this loan
  • You can opt for conditional pre-closure option after 1 year of taking the loan

TATA Capital

  • Fixed rate of interest starting at 11.75%
  • Paperless approval process on this loan, only at BankBazaar
  • Maximum loan term of 6 years available
  • 25% part payment allowed in a year and conditional pre-closure and part payment only after 12 months
  • E-approval and balance transfer available too

HDBFS

  • Paperless approval process on this loan, only at BankBazaar
  • Fixed rate of interest starting at 14.99%
  • Conditional pre-closure only after 12 months. Pre-closure fee = 4% of principal outstanding (plus applicable tax)
  • You can also avail doorstep service, e-approval, top-up loan, and balance transfer services

ICICI Bank

  • Fixed rate of interest starting at 11.25%
  • No guarantor required
  • Conditional pre-closure only after 6 months
  • Doorstep service
  • E-approval and top-up loan services available as well

Additional Reading: All You Need To Know About Personal Loan Eligibility Calculator

In case you’re looking for a Personal Loan from any other bank, there are quite a few options you can explore. Why don’t you check your eligibility?

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Personal Loans UCN
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