When you need funds urgently for weddings, travel, home renovation, or emergencies, a personal loan can be your best financial support. However, choosing the right lender with low interest rates is crucial. In India, several NBFCs (Non-Banking Financial Companies) provide the best low-interest personal loans with minimal documentation and quick approval.

In this blog, we’ll explore the best NBFCs for personal loans that offer low-interest personal loans in India, helping you make an informed borrowing decision.

Why Choose an NBFC for Personal Loan?

NBFCs are becoming increasingly popular for personal loans because they provide fast, flexible, and convenient lending options. They cater to different income groups and offer competitive interest rates compared to traditional banks.

Key Benefits of NBFC Personal Loans:

• Hassle-free online approval process
  
  
• Minimal paperwork and quick disbursal
  
  
• Flexible repayment options
  
  
• Attractive and low interest personal loans
  
  
• Loan options for both salaried and self-employed individuals

Top NBFCs Offering Best Low-Interest Personal Loans in India

1. Bajaj Finserv

Bajaj Finserv is among the best NBFCs for personal loans in India. It offers low interest personal loans starting from around 10.49% p.a. with loan amounts up to ₹40 lakh. The process is fully digital, and funds are disbursed within 24 hours.

Highlights:

• Tenure up to 96 months
  
  
• No collateral required
  
  
• Quick approval and disbursal

2. Tata Capital

Tata Capital offers personal loans with low interest rates starting at 10.99% p.a. You can enjoy flexible EMIs and part prepayment options with minimal charges.

Highlights:

• Custom EMI options
  
  
• Simple online process
  
  
• Transparent charges

3. HDB Financial Services

A subsidiary of HDFC Bank, HDB Financial Services is known for its best low-interest personal loans for both salaried and self-employed professionals.

Highlights:

• Competitive interest rates
  
  
• Fast processing and approval
  
  
• Flexible repayment plans

4. My Mudra Fincorp Limited

My Mudra Fincorp Limited is a fast-growing NBFC known for its customer-first approach and affordable lending options. It offers low interest personal loans in India designed to meet diverse personal and professional needs.

Highlights:

• Attractive and flexible interest rates
  
  
• High loan amounts with easy eligibility
  
  
• Quick online approval and minimal documentation

5. Muthoot Finance

Apart from gold loans, Muthoot Finance provides low interest personal loans to meet short-term financial needs.

Highlights:

• Simple eligibility criteria
  
  
• Fast loan processing
  
  
• Affordable interest rates

Tips to Get the Best Low-Interest Personal Loans

• Maintain a good credit score (750+) to qualify for better rates
  
  
• Compare multiple NBFCs before applying
  
  
• Opt for shorter tenure to save on total interest
  
  
• Avoid multiple loan applications to protect your credit score

Conclusion

Finding the best personal loans with low interest rates is now easier than ever. NBFCs like Bajaj Finserv, Tata Capital, HDB Financial Services, My Mudra Fincorp Limited, and Muthoot Finance provide quick, secure, and affordable financial solutions.