Best Personal Loan Providers of 2019

According to a recent RBI survey, in the month of May 2010, the total personal loan amount stood at Rs 5.89 lakh crore. This figure went upto Rs 19.33 lakh crore in June 2018. The consumer durable loans’ are at Rs 8,138 crore in May 2010 was and Rs 20,300 crore in June 2018. This clearly shows how personal loans are spiking up. Personal loans are unsecured loans and need no collateral to support. So, personal loans are the best option when in an urgency to meet. Just find a loan which is easily available and less unwieldy. Getting a personal loan sanctioned from a regular bank can be back-breaking. The strict rules and regulations of banks can be quite unnerving for an individual with a financial need. This is exactly why users route towards NBFCs (Non-Banking Financial Services). So, what makes Personal Loans from NBFCs highly recommended: faster processing, online application, easy disbursal etc. In a few cases, the provider approved and transfers the amount on the same day of application. Instead of full documentation, NBFCs require quick eKYC to enable a smooth journey for customers. Also, personal Loans from NBFCs have additional benefits as highlighted below:
  • Flexible rates of interest
  • 100% transparent process
  • No collaterals
  • Zero processing fees
  • Instant approval and disbursal
  • Higher approval rate for individuals with low credit scores
After you’re familiar with personal loans offered by NBFCs, let us list down the best personal loans in the year 2019.

Home Credit Personal Loan

Home Credit Personal Loans is one the popular most companies to offer personal loan upto 2 lacs and available anywhere and anytime. This personal loan option has 100% paper application, instant approval, zero processing fee & instant online approval.

Bajaj Finserv Personal Loan

Bajaj Finserv is one of the pioneers in the NBFC space. They not only offer a wide spectrum of solutions to its customers. They are truly focused on resolving customer issues and helping get through the challenging financial situations. They would like you to protect hard earned savings for future plans. Typically, the loan takes 24 hours for filing the application. An amount equal upto 25 lacs gets approved after evaluating your income, financial potential and credit score. The loan has a repayment tenure of between 12 to 60 months. They offer a fluctuating interest rate ranging between 12% to 20%. A typical customer can withdraw as much as amount as they like, minus the full approved amount.

Mahindra Finance Personal Loan

Mahindra & Mahindra Financial Services Ltd aka Mahindra Finance is considered the quickest and simplest personal, specially to its old customers. It approves and disburses loan within 2 days of filing the application. The NBFC disburses the loan amount within 2 days of filing the application. Mahindra offers loan upto 3 lacs within a repayment tenure of 3 years. However, the interest rate varies based on the customer and his income range. To apply online for an instant personal loan, visit Home Credit. We serve over 200 cities, PAN India.

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