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Frequently Asked Questions
Which bank offers the lowest personal loan interest rate in India?
Interest rates vary between 8-24% depending on credit score and lender. SBI, HDFC, and ICICI typically offer competitive rates around 8-12% for salaried individuals with good credit history.
What is the minimum credit score needed for a personal loan in India?
Most banks require a minimum CIBIL score of 750-800 for loan approval. However, some lenders accept scores as low as 600-700 with additional documentation or higher interest rates.
How long does it take to get a personal loan approved in India?
Approval typically takes 3-7 days after document submission. Online lenders may approve within 24 hours. Final disbursement happens within 2-5 working days from approval date.
