Top Contactless Online Personal Loan Providers in India

Updated on: 14 Dec 2021 // 37 min read // Personal Loans
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Digital is the way of life in 2020 and beyond. With every individual to a business-unit, adapting to the rapidly changing needs for contactless life, the recently accepted digital way of living will certainly define the new normal for our life ahead.

BankInterest RateProcessing FeeEMI (Per lakhs)
SBI Bank Personal Loan9.60% – 15.65%Up to 1.50%Rs. 2,105
HDFC Bank Personal Loan10.75% – 21.30%Up to 2.50%Rs. 2,162
ICICI Bank Personal Loan11.25% – 21% Up to 2.25%Rs. 2,187
Bajaj Finserv Personal Loan13.00%Up to 4.13%Rs. 2,275
Tata Capital Personal Loan10.99%Up to 2.75%Rs. 2,174
Axis Bank Personal Loan10.49%-24%1.50 to 2%Rs. 2,149
Kotak Mahindra Personal Loan10.50%-24%Up to 2%Rs. 2,149

The disruptions in banking and lending industry are surely going to change the way we bank and borrow loans. If you are looking for a contact-less Personal Loan from your home, due to limited mobility caused by pandemic outbreak, you must go through the list of top 7 Online Personal Loan providers in the country. These are the leading Indian banking & financial services giants with highly sophisticated and customer-friendly tech support & infrastructure that can seamlessly facilitate the instant borrowing entirely through their digital platforms. You do not need to visit the bank website for any step. The key documents you will require to process the online loan application are PAN Card and Aadhaar Card.

Let’s dive deep and find out the application process and eligibility criteria for the best Online Personal Loan offers in the country. We have only included those banks that have secure online systems and extend instant approvals at highly attractive rate of interest and flexible repayment terms.

Contactless Emergency Loan with instant approval

1. SBI

SBI is the largest public sector bank in the country. It has the widest branch network spread across India. The bank offers several Personal Loans for a diversified base of customers: SBI Xpress Power, SBI Xpress Credit, SBI Xpress Elite, SBI Pension Loan, SBI Xpress Credit Insta Top-up & SBI Clean Overdraft offers.

SBI QUICK Personal Loan is the answer to anyone who is looking out to borrow instantly with minimal documentation through Contactless Lending Platform (CLP). You can borrow this loan even if you do not have a Salary Account with SBI.


  • Contactless borrowing for up to Rs. 20 lakhs
  • Interest charged on daily reducing balance, resulting in low EMIs
  • Minimal documentation
  • Provision for second loan
  • No security, no guarantor required


  • Minimum Net Monthly Income: Rs. 15,000.
  • EMI/ NMI Ratio should be less than 50%.
  • The applicant should be an Indian citizen between 21 to 58 years of age.
  • Minimum continuity in current job for 1 year.
  • Borrow for Rs. 24,000 to Rs. 20 Lakhs, subject to 24 times NMI.

Interest Rate:

  • 9.60%15.65% p.a
  • Another online Personal Loan option is a preapproved loan through SBI Net Banking or YONO APP.

2. HDFC Bank

Amid pandemic HDFC Bank which is the largest private sector lender in the country has come up with a hassle free online borrowing process that allows HDFC customers to assess Personal Loan Eligibility and get the disbursals instantly for preapproved offers. The non HDFC customers can also avail of the same-day HDFC loans within a few hours, after verification.

Features & benefits

  • Personal Loan up to 40 Lakhs.
  • Online application & instant processing.
  • Special “Step-up EMI” structure for customers struggling with cash crunch.
  • Under this scheme, you can borrow a Personal Loan at affordable EMI, starting at Rs.1829/ Lakh for first 12 months.
  • Documents required: Aadhaar, PAN, 3-months’ Bank Statements, 2 latest salary slips.


  • Indian citizens between 21 to 60 years of age.
  • Minimum of 2 years of work experience, including 1 year with the current employer
  • For HDFC Bank Salary account holders, minimum of Rs 25,000 salary.
  • For non HDFC Bank Salary account holders, minimum of Rs. 50,000 salary.

Interest Rate:

Starts from 10.75% p.a.

3. ICICI Bank

You can borrow Personal Loans up to 20 Lakhs online from ICICI Bank for 12 to 60 months. The Personal Loan application can be initiated online or through SMS. It is instant process. The Eligibility for ICICI Personal Loan will also depend on your previous relationship with the bank.

Features & benefits:

  • Hassle free online application process.
  • After the approval, the loans are disbursed instantly.
  • Check application status and get 24 x 7 customer support.
  • Minimum documentation.
  • Fixed rate of interest starting at 11.25% p.a.
  • No collateral or security required.

Other Online Cash Loans:

Recently ICICI Bank also launched ICICI Bank Flexicash for its Salary Account Holders. The facility offers a preapproved credit line/ overdraft facility to meet unplanned or recurring expenses.

Another offer is ICICI Insta PL through ATM. It is an Instant Personal Loan disbursal facility that extends pre-approved loan to its customers. The customer can avail of Instant Loan amount through ATM.

4. Bajaj Finserv

You can Apply for Bajaj Finserv Online Personal Loan for up to Rs 25 lakh and meet urgent financial gaps without any apprehensions. The eligibility criteria as well as documentation requirements are easy to meet.

Features and Benefits:

  • Collateral-free loan up to Rs 25 Lakhs.
  • Check eligibility instantly online.
  • Instant loans that are disbursed within 5 minutes of approval.
  • Minimal documentation.
  • Flexible tenure up to 60 months.
  • Pay 45% lower EMIs under Flexi Hybrid.
  • Interest charged only on the money withdrawn.


  • Indian residents between 23 to 55 years can apply.
  • The applicant should be employed with government or private company.
  • The minimum salary requirement varies as per city of residence. For metro cities like Mumbai, Pune, Bangalore, or Delhi, minimum salary to apply for Personal Loan is Rs.36,000.

Interest Rate:

13% onwards

5. Tata Capital

Tata Capital Offers Personal Loans up to Rs 25 Lakhs for extended tenure of 72 months. You can apply online or by visiting the branch as per your convenience. Both self employed and salaried individuals can apply.


  • Loan Quantum: Rs. 75 Thousands to Rs 25 Lakhs.
  • Loan Tenure: 12 – 72 months.
  • No Collateral Required
  • Disbursed as an all purpose loan. You can also use as a Debt Consolidation Loan.


  • Age should be between 22 to 58 years
  • Monthly income should be a minimum of Rs.15,000
  • The applicant should have a minimum of one-year work experience
  • Basic documentation for KYC and income proof.
  • Part prepayment without penalty allowed.
  • Balance transfer facility

Interest Rates:

Starts at 10.99% p.a.

6. Axis Bank

Axis Bank Instant Personal Loans can be applied for quick needs online as well as by visiting the branch. The loan can be applied for amount ranging from Rs 50000 to Rs 15 Lakh. There is no foreclosure or part payment fee on Axis Bank Loan. Thus you get freedom to choose your EMI as well as loan tenure.


  • The applicant should be between 21 to 60 years of age at the time of Loan maturity.
  • Both Salaried Employees and Professionals can Apply for Axis Personal Loan.
  • Minimum salary/ income should be Rs. 15,000.

Interest Rate:

10.49% p.a onwards

7. Kotak Bank

Kotak Mahindra Bank Personal Loan can be applied for instant needs ranging from Rs 50,000 to Rs 20 Lakhs. You can Check Personal Loan Eligibility on the go as well.

Features and benefits:

  • Instant approvals
  • Easy Documentation
  • All purpose loan
  • Prepayment allowed after 12 months
  • Top facility after 9 months

Interest rate – Starting from 10.50% p.a.


  • The applicant should be an Indian resident.
  • S/he should be employed with an MNC, Public or Private limited company.
  • The age should be between 21 years to 58 years.

Final Words

These are top 7 Personal Loan providers in India. You can fill the online Personal Loan application and instantly find out who is the best loan provider as per your credit profile. You can compare the rate of interest, loan amount, tenure, and other eligibility criterion to choose a suitable match for yourself. It will not take more than 10 minutes to find out about the preapproved instant Personal Loan offer for your profile. You can instantly apply as per your needs. Click Online and meet your cash gaps with confidence.

Also Read: Things to Look for Before Applying for Emergency Line of Credit or Instant Personal Loan

To apply online for Best Personal Loan for Pensioners, Home Loan, Credit Card, Business Loan & LAP visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 7 million+ happy customers since 1989.

HDFC Personal Loan Offer