Personal Loan for Self Employed | Interest Rates 2019 | Documents | Eligibility

Personal loan for Self Employed – Apply Online personal loans for Self Employed. Compare ✓ Lowest Interest rates ✓ Documents ✓ Eligibility and choose the best deals online.

Eligibility Criteria for Self Employed Personal loan:-

  • Applicant should be Indian Citizens
  • Minimum age required is 23/25 years and Maximum 65 years.
  • Minimum 3 years experience in same business.
  • Residence/Office -either Owned, rented or company provided either residence or Office should be self owned.
  • Telephone/ mobile mandatory at residence and office.
  • Partnership firms, Private Ltd. companies and deemed Limited companies are eligible

₹ 273,923 crores worth of Personal Loan Applications received! (last updated on 25 June 2019)

Compare Personal Loan Rates – Eligibility – Process of Top 10 Banks. Check CIBIL score absolutely FREE.

Loan Amount

Employment Status


Personal Loan Interest Rates 2019

BanksInterest Rates
HDFC Bank10.99 – 20.75%
ICICI Bank11.70 – 18.85%
Bajaj Finserv11.99 – 16.00%
Fullerton India14.00 – 33.00%
Kotak Mahindra11.50 – 20.00%
IndusInd Bank12.99 – 17.00%
Standard Chartered10.99 – 14.49%

Processing Fees / Prepayment Charges

BanksProcessing FeePre Payment Charges
Bajaj FinservUpto 2.00%Upto 4% post 1st EMI clearance
ICICI Bank1999 to 2.50%Zero or 5.00%
Axis Bank2.00%Nil
Kotak1.5 – 2.00%5.00%
HDFC Bank0.8% – 2.00%4.00%
Fullerton India2.00%Upto 7.00%, 0% after 3 year
Standard Chartered
NIL (Zero)Upto 2.00% of loan amount

You can always start by checking out with different banks offering you the loan for the best offers – interests – EMI schemes etc. Also find out the eligibility criteria and the documents required to submit before you apply.

What is the rate of interest that will be charged on loan?

The interest rate varies from bank to bank. And usually it varies from 14%-26% depending upon your profile and the policies/scheme you opt for.

Why to Choose Personal Loan?
In this day and age of internet everything you need is just a click away. And so are loans. The loan process has also become more easier and more customer-friendly. Consumerism has increased to such extent that it makes us want things NOW rather than wait for months or even years to save enough money to buy things we want.

Therefore, today we don’t think twice before committing ourselves to indebtedness. The personal loan schemes are quite promising today, no doubt. But we need to be extra careful.

Unsecured loans, such as personal loans are usually very expensive. While availing a loan has become affordable and simple, it does have its drawback.

The personal loan banks may not always tell you the full story. Therefore it is important for us to delve deep into any loan offer and make the right choice.