Top Personal Loan Apps 2021 – Download Mobile App/ Apply for Loan (Get Instant PL) with Minimum Documentation EMI, Minimum Interest Rates. Processing Fee (India Best Personal Loan Apps 2021 by User Reviews Google Play Store)
Instant Personal Loan Plans January 2021: Here are the list of Personal Loan Lending Apps/ Company for the Citizen of India. RBI has already given relaxation to the Loan Installment (EMI) for 3 Months Moratorium to defer their Loan EMI, Credit Card Dues.
People associated in Jobs in other sectors i.e. Clothing, IT Sector, Travelling, Hotel, Restaurant, Schools, Colleges, Shops, Garments Business, vehicles (Auto), Services, etc. will be closed during the Lockdown.
Because of this, people may need some CASH to meet essential expenses. Here, we are providing the best offers and interest rates for Personal Loan during COVID-19 Lockdown.
Note: Govt. of India or RBI has not given any guidelines for Personal Loan (or any Moratorium). PM Personal Loan Scheme 2020 etc. (So don’t fell prey to fraudsters – do not provide OTP or Bank Details to anybody – Bank Official never ask OTP).
COVID-19 Personal Loan Plans Offers
Table of Contents
Personal Loan can be borrowed from various Public/ Private, NBFC, Loan Lending Financial Institutions etc. The Personal Loan is based on your Monthly Salary and City of Residence. Sometime PAN Card and CIBIL Score is verified by the Lender.
During the Lockdown, the Banks (SBI, Axis Bank, ICICI, HDFC, BOB, PNB) are lending Instant Personal Loan with low-Interest Rates and EMI’s.
SBI Personal Loan Coronavirus Lockdown
The Reserve Bank of India has cut the repo rate by 75 bps points. During the COVID-19 Lockdown, the State Bank of India is providing Personal Loans at the lowest interest rate of 10.55% and a maximum of 16.60% yearly.
| Lowest Interest Rate | 10.55% |
| Maximum Interest Rates | 16.60% |
| Processing Fee | 1% |
| Loan Tenure | 6 months (minimum) to 72 months (maximum) |
| Loan Amount | ₹ 50,000 to ₹ 15 Lakh |
| Part Prepayment Charges | Not allowed |
| Preclosure Charges | Allowed after 6 EMI’s, 3% charges |
Short term loans/ Payday loans are not provided by SBI. The Rate of Interest is based on your income, job stability, loan amount, City of residence, CIBIL score, credit profile, existing obligations, verification, and other factors.
SBI Personal Loan Coronavirus April 2020
Axis Bank Personal Loan COVID-19 Lockdown
Axis Bank lends a maximum of 25 Lakh Personal Loans. Also, Part Prepayment is allowed after paying 1st EMI. The minimum interest rate is 10.99% and a maximum of 16.99%.
The minimum tenure is 12 months and a maximum of 60 months.
Axis Bank Personal Loan Interest Rates start from 10.99% with lowest rates for salaried borrowers
| Lowest Interest Rate | 10.99% |
| Max Interest Rate | 16.99% |
| Processing Fee | upto 1.75% |
| Loan Tenure | 12 months to 60 months |
| Loan Amount | ₹ 50,000 to ₹ 25 Lakh |
| Part Prepayment Charges | Allowed after 1 EMI’s, Nil charges |
| Preclosure Charges | Allowed after 1 EMI’s, Nil charges |
Axis Bank COVID-19 Loan Offers
ICICI Personal Loan Coronavirus Offers
In the comparison of Axis Bank and SBI Personal Loan, ICICI Bank is offering Personal Loan with higher Interest Rates (11.25% minimum rate). The Processing Fee of PL is also at 2.25% of loan amount.
ICICI is offering a maximum of 30 lakh for a maximum of 5 years. The interest rate of Personal Loans shall be determined basis the applicant’s income, employer and relationship type with ICICI Bank. The interest rate offer shall be at the sole discretion of ICICI Bank.
During the COVID-19 Lockdown, the processing Personal Loan at ICICI Bank will be fast.
The Personal Loan disbursement turn around time since application shall be subject to the applicant’s eligibility as per ICICI Bank’s policy and applicant providing the relevant documents in time.
| Lowest Interest Rate | 11.25% APR |
| Maximum Interest Rate | 22.00% APR |
| Processing Fee | Upto 2.25% of loan amount |
| Loan Tenure | 12 months to 60 months |
| Loan Amount | ₹ 50,000 to ₹ 30 Lakh |
| Part Prepayment Charges | Not allowed |
| Preclosure Charges | Allowed after 6 EMI’s, 5% |
ICICI COVID-19 Personal Loan Offers
Bajaj Finserv Personal Loan Coronavirus Lockdown Rates
Bajaj Finserv provided instant Personal Loan during the COVID-19 Lockdown. The Minimum Interest Rate is 11.99%. Also, you can check Best Offers by entering your PAN CARD and Mobile Numbers. If you are already completer EMI of Bajaj Finserv than. Pre Approved Loan is also available for you.
Part Pre-Payment facility is also available after paying 1st EMI. Maximum Interest Rate is 15.50% APR.
| Lowest Interest Rate | 11.99% |
| Maximum Interest Rate | 15.50% |
| Processing Fee | Starting from 1.50%, Up to 3% |
| Loan Tenure | 12 months to 60 months |
| Loan Amount | ₹ 1 Lakh to ₹ 25 Lakh |
| Part Prepayment Charges | Allowed after 1 EMI’s, 2% |
| Preclosure Charges | Allowed after 1 EMI’s, 4% |
Bajaj Finserv Coronavirus Personal Loan
KOTAK BANK Pre-Approved Personal Loan
Kotak Bank is offering a minimum of 10.99% APR (Fixed). There is no maximum or minimum interest rates.
The individual between 21- 58 years of age is eligible for availing a personal loan at Kotak Mahindra Bank. The following are some of the other criteria for availing a Personal loan.
- A net salary of Rs.20,000/- per month
- A person who has a minimum educational qualification of being a graduate.
- An active resident of a city for at least 1 year
- A minimum work experience of at least 1 year
| Lowest Interest Rate | 10.99% (fixed) |
| Processing Fee | Upto 2.5% of the loan amount+ GST |
| Loan Tenure | 12 months to 60 months |
| Loan Amount | ₹ 1 Lakh to ₹ 15 Lakh |
| Part Prepayment Charges | Lock-in period for 12 months. After 12 months, 5% foreclosure charges + GST on principal outstanding. |
| Preclosure Charges | Allowed after 12 EMI’s, 5% foreclosure charges |
Kotak Bank COVID-19 Personal Loan – Apply Now
HDFC Personal Loan COVID-19 Offers
HDFC Bank is also providing very good offer with a minimum interest rate of 10.75%
- Individuals between 21 and 60 years of age
- Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
- Those who earn a minimum of ₹ 15,000 net income per month (₹ 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)
| Lowest Interest Rate | 10.75% APR |
| Maximum Interest Rate | 21.30% APR |
| Processing Fee | Up to 2.50% of the loan amount subject to a minimum of ₹ 2,999/- & maximum of ₹ 25,000/- for salaried customers |
| Loan Tenure | 12 months to 60 months |
| Loan Amount | ₹ 50,000 to ₹ 75 Lakh |
| Part Prepayment Charges | Allowed after 12 EMI’s, 2-4% |
| Preclosure Charges | Allowed after 12 EMI’s, 2 – 4% |
HDFC Personal Loan Plans (Coronavirus Lockdown)
Bank of Baroda (BOB) Personal Loan
Bank of Baroda has a special COVID-19 Personal Loan Offer. So, if you have
- BRLLR + SP+ 2.75% per annum with monthly rest (ROI is irrespective of Bureau score)
- Penal interest: Penal interest @2% shall be levied on overdue amount/ non-compliance of terms and conditions
- Prepayment Charges: –NIL—
- Processing Charges: Rs. 500/- plus applicable GST
- Minimum: Rs.25,000/-
- Maximum: Rs.5.00 Lakhs
BANK OF BARODA COVID-19 Personal Loan
Apart from the Banks (Public/ Private). Non-Banking Financial Company (NBFC) are also offering COVID-19 special personal loan to the individual. Some of the Popular NBFC offer loans via Mobile App (Download it from Google Play Store/ iOS) or Online Website.
| KreditBee – Personal Loans from ₹ 1,000 to ₹ 2 Lakhs as per your Approved Credit, with 12.24% Interest Charges. |
| Money View Loans: Starting from 1.33% per month, Rs. 10,000 to Rs. 5,00,000 |
| CashBean: Personal Loan Rs.1000/- to Rs.60000/-, the annual interest rate is upto 33%. |
| GotoCash |
| CashMama |
| Dhan |
| PhoneParLoan |
| Kreditzy |
| UCash |
| NIRA |
| Instant Personal Loan App – RapidRupee |
| CashCred |
| MoneyEnjoy |
| Instant Personal Online Cash Loan App – Mi Credit |
| RupeeCash |
| FlashCash |
| LoanFront – Instant Online Personal Loan |
| Instant Personal Loan App Online Loan-CashPanda |
| iCredit – Instant Personal Loan Mini Cash Loan App |
| Instant Personal Loan App – PaySense |
| Personal Loan App Get Instant Money & Quick Loans |
| LendKaro – Loan Instant Personal Loan App Online |
| Z2P |
| Atome |
| Loanflix |
| Cashbull-Rupeeredee Loan App & Cash Loan App |
| CashTm Cash Thru Mobile |
| Branch Personal Loan |
| InstaRupee – Instant Personal Loan App Online |
| NanoCred |
| StashFin |
| MoneyTap |
| Quick Loan |
| MoneyWOW |
| KreditOne |
| CASHe |
| iEasyLoan |
| LoanBro |
| OkRupee |
| MoneyMore |
| LoanAdda |
| CashPapa |
| Loan Raja |
| CashIn – Personal Loan Online App |
| RupeeLoan |
| EarlySalary |
| Mystro |
Note: You can get Personal Loan on the above NBFC Lenders. Just install the official App and Check your eligibility.
FAQ – COVID-19 Personal Loan Providers (Best Offers)
Read these questions and answers that will help you in choosing Bank, NBFC Lender for Personal Loan during Coronavirus Lockdown.
✅ Does any bank provide a special Personal Loan in Coronavirus?
Yes, Bank of Baroda is offering Personal Loan “COVID-19 Personal Loan” during the Lockdown. You can apply through an offline application form available on BOB Website.
✅ Is RBI has given Moratorium for Personal Loan too?
Yes, RBI 3 Months Moratorium is also applicable to Personal Loan. The last date to defer PERSONAL LOAN EMI is 31 May 2020.
✅ Which NBFC is best Personal Loan Provider?
KreditBee is the best because of its user reviews. Another best part is the lowest Interest rates among the NBFC, it is 1.02% monthly.
✅ Do SBI has special COVID-19 Personal Loan April 2020?
No, State Bank of India has not launched any new PErsonal Loan Plan. But you can avail it by visiting ONLINE Website and check your Eligibility, Submit documents and your loan amount is disbursed in your Bank Account.