Best Personal Loan Options in India with Low Interest Rates (2025)
Personal loans are a go-to financial solution for both salaried and self-employed individuals in India, thanks to their easy accessibility and flexible repayment terms. Banks and NBFCs provide personal loans for various needs, such as medical emergencies, home renovations, debt consolidation, and education expenses.
Here are the top banks and NBFCs offering personal loans in 2025:
| Bank/NBFC | Interest Rate (p.a.) | Loan Amount | Processing Fee |
|---|---|---|---|
| HDFC Bank | 10.75% – 21% | ₹50,000 – ₹40 Lakh | ₹1,999 – ₹4,999 |
| SBI | 10.65% – 14.90% | ₹25,000 – ₹20 Lakh | 1.50% of loan |
Eligibility Criteria:
- Minimum age: 21 years
- Stable income source
- Good CIBIL score (750+ recommended)
- Employment type: Salaried or self-employed
How to Get a Business Loan in India Without Collateral
Securing a business loan without collateral can be tough, but many financial institutions in India offer unsecured business loans for startups and MSMEs. These loans help entrepreneurs grow their businesses without pledging assets.
Steps to Get a Business Loan Without Collateral:
- Check your business credit score (CIBIL for Business).
- Prepare a well-structured business plan.
- Apply for MSME loans under government schemes.
- Explore NBFC business loan options.
- Maintain a steady cash flow to ensure repayment capacity.
Best Banks for Business Loans (2025):
| Bank/NBFC | Loan Amount | Interest Rate |
|---|---|---|
| HDFC Bank | Up to ₹50 Lakh | 10.50% – 22% |
| SBI MSME Loan | Up to ₹2 Crore | 8.65% – 16% |
Best Credit Cards in India with No Annual Fee & High Rewards
Credit cards offer financial flexibility and rewards like cashback, travel benefits, and shopping discounts. Opting for a no-annual-fee credit card helps you save money while enjoying these perks.
Top Zero-Annual-Fee Credit Cards in India (2025):
- Amazon Pay ICICI Bank Credit Card: 5% cashback on Amazon purchases, no joining fee.
- Flipkart Axis Bank Credit Card: 5% cashback on Flipkart, 1.5% cashback on other spends.
- HDFC MoneyBack+ Credit Card: Earn 2X reward points on online transactions.
- IDFC FIRST Millennia Credit Card: Lifetime free, up to 10X rewards on spending.
- SBI SimplyCLICK Card: Best for online shopping with accelerated rewards.
Before applying, check eligibility criteria, reward structures, interest rates, and other benefits.
10 Ways to Improve Your CIBIL Score Fast in India
A high CIBIL score (750+) increases your chances of securing loans at lower interest rates. Here are 10 tips to boost your credit score quickly:
- Pay credit card bills and EMIs on time.
- Keep credit utilization below 30%.
- Maintain a mix of secured and unsecured credit.
- Avoid multiple loan applications in a short span.
- Check your CIBIL report for errors and rectify them.
- Increase your credit limit but use it wisely.
- Opt for long-term loans to maintain a good repayment track.
- Avoid closing old credit card accounts.
- Use credit responsibly and avoid unnecessary debts.
- Negotiate with banks for better repayment terms.
Regularly monitoring your CIBIL score and following these steps can help you build a strong credit profile.
Home Loan Interest Rate Comparison in India (2025)
Home loans are a significant financial commitment, and choosing the right lender with the lowest interest rates can save you lakhs. In 2025, many banks and NBFCs offer competitive home loan rates based on your credit score, employment type, and loan amount.
Top Home Loan Providers in India (2025):
| Bank/NBFC | Interest Rate (p.a.) | Loan Amount | Processing Fee |
|---|---|---|---|
| SBI Home Loan | 8.50% – 10.30% | Up to ₹5 Crore | 0.40% of loan amount |
| HDFC Home Loan | 8.40% – 9.50% | Up to ₹10 Crore | ₹3,000 – ₹5,000 |
| ICICI Bank | 8.45% – 10.25% | Up to ₹5 Crore | ₹3,000 – ₹5,000 |
Eligibility Criteria:
- Minimum age: 21 years
- Good CIBIL score (750+ recommended)
- Stable income source (salaried or self-employed)
- Minimum work experience of 2 years
Before applying, compare multiple lenders and negotiate processing fees to reduce overall costs.
Instant Online Loans in India – No Credit Check & Fast Approval
Instant online loans are ideal for urgent cash needs with minimal documentation. These loans are processed quickly and often don’t require a high CIBIL score.
Top Instant Loan Apps in India (2025):
- KreditBee: Loan up to ₹2 Lakh, quick disbursal.
- MoneyTap: Line of credit up to ₹5 Lakh.
- EarlySalary: Best for salaried individuals, loan up to ₹5 Lakh.
- PaySense: Instant approval within 2 hours.
How to Qualify for a ₹50 Lakh Loan with a Low CIBIL Score
A low CIBIL score doesn’t necessarily disqualify you from securing a large loan. Here’s how to improve your chances:
- Apply with a co-applicant or guarantor.
- Offer collateral such as property or gold.
- Opt for a secured credit card loan.
- Choose NBFCs with flexible eligibility criteria.
Student Loan Forgiveness & Govt Schemes in India (2025)
Education loans can be a burden, but the Indian government offers several schemes to help students manage their debts.
Popular Student Loan Forgiveness Schemes:
- Central Sector Interest Subsidy Scheme (CSIS): Interest-free education loans for students from economically weaker sections.
- Vidya Lakshmi Portal: Government-backed portal for applying for student loans.
- State-Specific Loan Waiver Schemes: Tamil Nadu, Maharashtra, and other states provide loan waivers for deserving students.
Best Car Loan Interest Rates in India (2025)
Purchasing a car requires a significant financial investment. Car loans make it easier with flexible EMI repayment options.
Top Car Loan Providers in India (2025):
| Bank | Interest Rate (p.a.) | Loan Tenure |
|---|---|---|
| HDFC Bank | 8.50% – 14% | 7 years |
| SBI Car Loan | 8.75% – 12.50% | 7 years |
| ICICI Bank | 9.00% – 13% | 7 years |
Best Debt Consolidation Loans in India (2025)
Debt consolidation loans allow borrowers to combine multiple debts into a single loan with lower interest rates, making repayment more manageable.
Best Banks for Debt Consolidation Loans in India (2025):
| Bank/NBFC | Loan Amount | Interest Rate |
|---|---|---|
| HDFC Bank | ₹50,000 – ₹50 Lakh | 10.75% – 21% |
| Tata Capital | ₹75,000 – ₹35 Lakh | 11% – 24% |
| Bajaj Finserv | ₹1 Lakh – ₹50 Lakh | 10.99% – 22% |