Most of 2020 has been a year that has affected society and drained the energy and motivation of the common people. But in these hard times, a few financial institutions have proved to be helpful by providing personal loans, so as to help the individuals with their tough circumstances.
We will be discussing some of the top listed banks and organizations.
Further, as we move forward, we will be looking for the best financial institutions which have been providing the best facilities and schemes of personal loan:
HDFC Bank: HDFC personal loan offer the best services and offers in the industry of personal loans. It is also one of the most popular private sector banking institutions which are known for its services. This bank provides up to INR 8 lakh in the name of Personal accident Cover Up under a nominal premium. It also covers up the critical illness for up to INR 1 lakh. The premiums of these mentioned schemes are deducted from the credit amount before or during the disbursal of the loan. Moreover, the rate of interest offered by HDFC bank is convenient for the common people as well and thus attracts more clients in this market. Under the services provided by this bank, flexible repayment tenure under minimum paperwork is another attraction towards the borrowers. All of these qualities sum up to make this a leading financial institution for personal loan borrowers.
Finance Buddha: This institution is considered to be India’s largest DSA’s which is known for the quick approval and immediate disbursal of personal loan credit amount. Finance Buddha’s head office is situated in Bangalore and manages the branches in 14 different cities of India. The services provided by the organization have satisfied more than 3 lakh customers and clients, and they continue providing services maintaining their reputation. This company is channeled with various banks and financial organizations offering credit in the market of personal loans. Moreover, as they have tied up links with so many financial institutions thus they often come up with interesting schemes and offers disclaimed by the linked institutions. Although they are known for their “instant loan” eligibility option and that is the reason for its ranking.
ICICI Bank: ICICI bank personal loan is known for meeting the diverse needs of the common people as well as the business class. The needs might include various purposes, like, wedding preparation or for destination wedding expenses, renovating houses, paying off medical or health-related issues, and even for trips and vacations. If you are looking to apply for a personal loan in ICICI Bank then the maximum credit amount you will be served with is around INR 20 lakh. With this loan comes added benefits like quick processing time and less paperwork and documentation, therefore providing a hassle-free experience for their clients. Lastly, this bank also has the option for online services which also assures to provide funds in a matter of 3 seconds.
Axis Bank: Axis bank falls under yet another largest financial provider that has been assisting people in their financial need in the times of Covid-19. Similar to ICICI Bank, Axis bank personal loans also have multiple purposes and can be used for personal necessities as well as business requirements. The loan provided by this institution is quite affordable, considering the low-interest rate and other charges. Further, it comes along with added services, like quick disbursal of loans and flexible repayment tenure. The loan amount provided by this bank ranges between INR 50 thousand to INR 15 lakh with minimum paperwork and documentation. The bank also provides a balance transfer facility which allows one to transact higher loan interest to Axis Bank.
These above-listed banks have ranked accordingly due to their co-operation and excellent service during the times of need in the year 2020 when Covid -19 had crashed the economy.
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