Today, most borrowers prefer unsecured personal loans that don’t require collateral but still offer quick access to funds.
Whether it’s for medical emergencies, travel, education, or daily needs, unsecured loans are now widely available through banks, NBFCs, and digital apps.
We come with the 7 best unsecured personal loan options in India, along with features, interest rates, and guidance on choosing the right one.
7 Best Unsecured Personal Loan Options in India
1.WeRize Personal Loan
You can borrow a loan from WeRize at Rs. 12,000 on a salary. Get up to 5 lakh loan.
- Loan Amount: Up to ₹5 lakh
- Age: 21 to 55 years
- Interest Rate: Starts from ~16.5% p.a.
- Tenure: Up to 3 years
Best for: Low-salaried earners can apply for a loan.
2. HDFC Bank Personal Loan
One of the most popular choices for salaried individuals. Loan disbursement within 3 days.
- Loan Amount: Up to ₹40 lakh
- Interest Rate: Starts from ~10.5% p.a.
- Tenure: Up to 5 years
Best for: Low interest and high loan amount
3. ICICI Bank Personal Loan
ICICI Bank provides quick personal loans and an easy documentation process. No hassle, no bank visit.
- Loan Amount: Up to ₹25 lakh
- Interest Rate: Starts from ~10.75% p.a.
- Approval: Fast
Best for: Quick disbursal and most trusted lender
4. SBI Personal Loan
A reliable option with competitive rates.
- Loan Amount: Up to ₹20 lakh
- Interest Rate: Starts from ~11% p.a.
Best for: Lower interest rates, and most customers love SBI Bank
5. Bajaj Finserv Personal Loan
Offers large loan amounts with flexible tenure.
- Loan Amount: Up to ₹40 lakh
- Interest Rate: 11%–20% p.a.
Best for: Big financial needs
6. Tata Capital Personal Loan
A well-known NBFC with good approval rates.
- Loan Amount: Up to ₹35 lakh
- Interest Rate: Starts from ~10.99% p.a.
Best for: Balanced loan option
7. IDFC FIRST Bank Personal Loan
Offers longer repayment options.
- Loan Amount: Up to ₹40 lakh
- Interest Rate: Starts from ~10.75% p.a.
Best for: Long-term repayment flexibility
List of Unsecured Personal Loans
| Lender | Loan Amount | Interest Rate | Best For | Approval Speed |
| WeRize | Up to ₹5L | 16.5%+ | Low interest | Fast |
| HDFC Bank | Up to ₹40L | 10.5%+ | Low interest | Fast |
| ICICI Bank | Up to ₹25L | 10.75%+ | Quick processing | Fast |
| SBI | Up to ₹20L | 11%+ | Trusted bank | Moderate |
| Bajaj Finserv | Up to ₹40L | 11%–20% | High loan amount | Fast |
| Tata Capital | Up to ₹35L | 10.99%+ | Balanced option | Fast |
| IDFC FIRST | Up to ₹40L | 10.75%+ | Flexible tenure | Fast |
| KreditBee / Fibe | Up to ₹5L | 14%–30% | Instant loans | Instant |
Features of Unsecured Personal Loans
No Collateral Required
You don’t need to pledge any assets. Get a loan at just 12,000 salary.
Quick Approval
Approval within hours or days. Don’t wait for a long time.
Flexible Usage
You can use a personal loan for any purpose. The bank does not check.
Simple Documentation
Apply with basic KYC and income proof required.
Eligibility Criteria
- Age: 21–55 years
- Minimum Salary: ₹12,000 per month required
- 1-year salary deposit must be required
- Credit score: 700+ preferred
Also Read: Top 10 Marriage Loan Apps
Documents Required
- Aadhaar Card
- PAN Card
- Latest Salary Slips
- 1-year Salary deposit Bank statement
- Employment proof
Pros and Cons
Advantages:
- No asset risk
- Quick access to funds
- Easy process
Disadvantages:
- Higher interest rates
- Strict eligibility (for banks)
Who Should Choose Unsecured Loans?
- Salaried individuals
- First-time borrowers
- People without assets
- Urgent loan seekers
Also Read: 20,000 Loan Without CIBIL Score
Conclusion
Unsecured personal loans have made borrowing easier and more accessible for millions of people in India. Whether you need funds for an emergency or planned expenses, these loans offer a convenient solution without the need for collateral.
However, since they come with higher interest rates, it’s important to compare lenders, understand the terms, and borrow only what you can comfortably repay. Choosing the right lender based on your profile can help you save money and avoid unnecessary financial stress in the long run.
