Personal Loan in Delhi NCR – Can You Find a Suitable Loan for Your Needs?

Looking for a personal loan in Delhi NCR? Whether you are experiencing a short-term cash crunch or facing a financial emergency, a personal loan can provide you with some relief. Being India’s capital and one of the biggest metropolitan cities, Delhi has much to offer when it comes to the quality of life. However, it is also one of the most expensive cities in India, and maintaining a decent life here requires a lot of money. If you are an average earner, you might run into financial troubles every now and then. Thankfully, since most major banks and NBFCs have operations here, you are not going to face problems in finding suitable loan offers.

Obtaining a personal loan in Delhi NCR for any purpose

No matter how cautious you are, you cannot always prepare for emergencies. Managing finances and maintaining a monthly budget can become especially difficult if unplanned expenses keep cropping up out of nowhere. What can you do if such a situation presents itself when you are low on cash? If you cannot dip into your savings, the only other viable option is to take out a personal loan in Delhi NCR. Unlike home loans or business loans that are designed for a specific purpose, personal loans are ideal for any personal use. Therefore, you can take out personal loans in Delhi for a number of reasons including:

  • Healthcare or medical emergency
  • Urgent car repair
  • Utility bill payment
  • Home repair or remodelling
  • An urgent trip or a long-awaited vacation
  • Relocating to a new house or apartment
  • Buying new tools and appliances for work

There are many more instances where you might need some added financial support, and a personal loan can very well meet your needs. Lenders usually do not enquire about what you plan to do with the money. However, they may advise you to spend the money wisely. Make sure to evaluate your requirements and then determine if a personal loan will be the suitable option. For example, if you are planning on investing in your business, you may find better options in business loans. On the other hand, if you need to buy a car, you should go with an auto loan. For instant approval of small loans, you may check out payday loans.

Personal loans in Delhi – Top providers you need to know about

As mentioned above, both NBFCs and traditional banks provide personal loans in Delhi. You may even explore the online lenders, lending platforms and personal loan apps. The interest rates and the loan terms vary from lender to lender. Your credit score and current income will also affect the rates and terms. Depending on the lender and your eligibility, you may get anywhere from Rs. 25,000 to Rs. 25 lakhs or higher. The tenure will depend on the loan amount. You need to repay the loan in fixed monthly instalments every month. Let’s take a look at the top personal loan providers in Delhi and the rates they offer.


Loan amount


Interest rate

Processing fee

HDFC Bank Up to Rs. 40 lakhs 1-5 years 10.99% – 21.25% Up to 2.5%
India Infoline Finance Ltd Up to Rs. 25 lakhs 1-5 years 13.49% – 19.99% Up to 2%
Allahabad Bank Rs. 50,000 – Rs. 7.5 lakhs 1-5 Years 13% Up to 1.22%
Central Bank of India Up to Rs. 10 lakhs 4 Years 11.3% Rs. 500 + applicable tax
IDBI Bank Rs. 50,000 – Rs. 10 lakhs 1-5 Years 12.55% 1% + applicable tax
Indian Overseas Bank Rs. 1 lakh – Rs. 15 lakhs 1-5 Years 13.55% 1.01% to 1.10%
State Bank of India Rs. 25,000 – Rs. 15 lakhs 5 Years 12.75% – 14.75% 1% + applicable tax
Union Bank of India Up to Rs. 5 lakhs 1-5 Years 14.4% 0.5%
Tamilnad Mercantile Bank Up to Rs. 2 lakhs 1-5 Years 13.75% – 15.75% 1%
Vijaya Bank Up to Rs. 10 lakhs 1-5 years 13.50% 0.75% + applicable tax

Finding a personal loan in Delhi NCR from legitimate sources

As with any major financial decision, you need to be careful when borrowing a personal loan in Delhi NCR. When you begin your search, you are sure to come across many providers. However, it is important to know which banks and NBFCs have the best products for your needs. You should also be cautious when dealing with online lenders. Scams and fraudulent schemes are fairly common especially when it comes to bad credit personal loans. However, when you rely on a legitimate online lending platform such as Loan Sumo, finding personal loans for bad credit becomes much easier.

Here at Loan Sumo, we believe in responsible lending and our aim is to help you find the best personal loans in Delhi. Being an online lending platform, we do not provide the money ourselves. Instead, we connect you with responsible and legitimate lenders such as banks, NBFCs, and other online lenders. To obtain a loan from us, all you have to do is fill out the quick application form and hit submit. We will get in touch with you and take it from there! With our assistance, you will have access to the best lenders and their best loan offers. You won’t have to hop from one bank to the other as we will provide you with all the necessary information. So, why waste time? Get in touch with us today!