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Best Personal Loans in India 2025

Personal Loan

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June 21, 2020

Best Personal Loans – Personal loan is any purpose loan that can be taken anytime. However, personal loan is bad for your personal finance. I won’t recommend anyone to take a personal loan. It should be last option in the list. The basic reason behind not recommending personal loan is higher interest rate. A personal loan comes with interest rate of 11-18% and sometimes above that also. You should take personal loan only in case financial crisis or an emergency situation.

If by any chance you decide to go ahead for personal loan, you should select personal loan with lowest interest rate and pre-closure charges. You can take personal loan from bank or from private company. Here is list of Best Personal Loans in India.

Best Personal Loans in India 2022

#1 State Bank of India Personal Loans

State Bank of India is most trusted name in India. State Bank of India Personal Loans are offered in different flavors

SBI Xpress Credit Personal Loan

SBI Xpress Credit personal loan is loan offered to salaried employees having salary accounts with SBI. You can get this loan with minimum documentation.

SBI Pension Loan

SBI pension loan is special loan for the pensioner. This loan is given only if pension order is maintained with SBI bank.

SBI Pre Approved personal loan

SBI also offered pre-approved personal loan to the customer where monthly average balance is beyond certain threshold. This loan is offered via mobile app.

SBI Xpress Elite Personal Loan

SBI has designed a specialized Personal Loan tailored for high-income salaried customers earning Rs. 1 lakh or more per month. Whether you’re planning a wedding, a vacation, dealing with an unexpected emergency, or making a planned purchase, enjoy swift approval and disbursement with minimal documentation through SBI Xpress Elite Personal Loan.

Also Read – 10 Best Instant Personal Loan Apps for Quick Cash Requirement

Loan Details

Maximum Loan Amount – 35 Lakh

Minimum Monthly Income – Rs.15000

Processing Fee – Up to 1.5% of the loan amount

Prepayment Charge – 3% of prepayment amount

Loan Tenure – 6 Years

Interest Rate – 11.3% to 15.55%

Eligibility

SBI Xpress Credit	SBI Pre Approved	SBI Pension Loan
Salary Account with SBI with monthly income above Rs.15000	Salary or Pension Account with SBI	Pension payment order with SBI
EMI/NMI ratio less than 50%	Pre-selected customer only	The age should be below 76 years

Documents Required

Online Application at SBI website
PAN Card
ID Proof and Address Proof
Latest Salary slip, Salary Account statement of past 6 months

#2 HDFC Bank Personal Loan

HDFC Bank personal loan is given to a salaried individual for public sector undertaking including central and state government employees. HDFC Bank allows you to get a loan up to 40 Lakh without any collateral.

HDFC Bank Personal Loan Details

Maximum Loan Amount – 40 Lakh

Minimum Monthly Income – Rs.15000 to Rs.20000

Processing Fee – Up to 2.5% of the loan amount

Prepayment Charge – 2 – 4% of principal amount

Loan Tenure – 5 Years

Interest Rate – 10.5 -24%

Eligibility

Individual with 21 to 60 years of age.
Doing job for at least 2 years with a minimum 1 year with current employer
Minimum net monthly income Rs.15000

Documents Required

ID Proof
Address Proof
Bank Statement of past 3 months
Two latest salary slips

#3 Axis Bank Personal Loan

Axis Bank personal loan is one of the best option. You need not to worry about pre-payment charges when you opt for axis bank loan. Foreclosure or part payment charges are zero in case of Axis Bank.

Axis Bank Personal Loan Details

Maximum Loan Amount – 40 Lakh

Minimum Monthly Income – Rs.15000

Processing Fees – 2% of the Loan Amount

Prepayment Charges – NIL

Loan Tenure – 7 Years

Interest Rate – From 10.65%

Eligibility

This loan is offered to salaried with age range of 21 years to 60 years.
Your minimum net monthly income should be Rs.15000.

#4 Standard Chartered Bank Personal Loan

Standard Chartered Bank is famous for online application and instant approval. You can get loan up to 30 lakh from standard chartered bank. You can get 50% discount on processing fees for online applications.

Standard Chartered Personal Loan Details

Maximum Loan Amount – 30 Lakh

Minimum Salary – Rs.22000

Processing Fees – 1% of loan amount

Part Prepayment – Not Allowed

Interest Rate – 10.99- 11.5%

Eligibility

Age limit should be 21 years to 58 years.
Minimum Income should be Rs.22000 per month.
You should have valid identity proof and address proof.

#5 CitiBank Personal Loan

CitiBank generally offer loan to the salaried people. CitiBank offers personal loan at lower rate to salaried compared to self-employed. CitiBank Personal loan is offered at lower rate of 10.99%.

CitiBank Personal Loan Details

Maximum Loan Amount – Up to 30 Lakh

Minimum Salary – Rs.25000

Processing Fees – 3% of the loan amount

Pre Closure Charges – 4%

Interest Rate – 10.99 – 18.99%

Eligibility

Loan can be given to salaried Individual, Self- Employed professional and business owners.
Existing CitiBank Customer with a Suviddha, Branch or Mortgage relationship.

Factors that affects interest rate of personal loan

The top factors that affects interest rate of your personal loan are given below.

#1 CIBIL Score

Your CIBIL score matters a lot while deciding interest rate on your personal loan. If you have CIBIL score is above 750, you will get a loan at lucrative interest rate. It also increase chance of getting faster loan approval. If you have lower CIBIL score, you are likely to get loan with higher interest rate.

#2 Your Income

Your income level matters a lot. If you have higher salary you are likely to get loan at lower interest rates. Higher income level means higher capacity in repayment of the loan. Few banks and financial institution even keep condition of certain income level as eligibility criteria.

#3 Employer Reputation

A reputation of employer plays a crucial role in determining your loan interest rate. If you are working with reputed multinational company or bank, interest rate applicable on personal loan will be low.

#4 Your Relationship with Bank

Your relationship with bank matters a lot. If you are loyal customer of the bank you will get personal loan with lower interest rate. You can even negotiate with bank for the interest rate.

5 Lending Companies for Small Business Loans

Shitanshu Kapadia

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June 21, 2020

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5 Lending Companies for Small Business Loans

Lending companies provide loans to small businesses. If you are looking for loans from online lending companies for small business needs, here is a list of 5 Lending companies that offer loans for your financial needs.

If your loan application is rejected by the bank, you can go for online lending companies for small business loan requirements. Your loan requirement of business or a personal loan will be defiantly get fulfilled.

Here we compile 5 lending companies that provide unsecured loans to individuals and small businesses in India.

5 Lending Companies for Small Business Loans

Capital Float

Capital Float is a leading Fintech Lender. Capital Float provides a facility to apply for the loan online and offline. You can apply for a loan such as business finance, consumer finance etc. Capital Float is best for small and medium enterprises. It quickly provides you funds for cash flow, supplier payment as well as the growth of a business. Key features of Capital Float are given below.

Online and offline mode to apply for the loan.
Unsecured loan. No need to pledge property or machinery for the loan.
Finance amount from 3 Lakh to 1 Cr with terms between 3 months to 6 months.
Interest rate from 15% per annum. Processing fees up to 2% of the loan amount.

Also Read – Best Business Loans in India for Small Businesses

Lendingkart

Lendingkart is a popular online platform for providing working capital finance for small businesses. Lendingkart focuses on current year cash flow and growth prospects while giving a loan. The application process for applying loan is 100% online and paperless. Key features of Lendingkart are given below.

Does not require any Collateral or Net Worth details
Instant Loan facility with quick approval in 3 days.
Multiple products such as business loan, working capital loan, MSME loan etc.
Loan amount from Rs.50000 to 2 Cr.
Interest rate from 12% to 24% per annum.
Loan tenure up to 36 months with processing fee of 2%

Capital First

Capital First provides easy and short term loans for your business. Capital First is now IDFC First Bank. It provides loans for all types of businesses. Key features of Capital First are given below.

Flexible Tenure from 1 year to 5 years.
Easy Application Process. The company provides you door to door service also.
Top up facility available for the existing borrowers.
An online application facility is available.
Multiple Loan Options.
Loan amount from 3 Lakhs to 75 Lakhs.

iLend

iLend is online lending platform famous for peer to peer lending. This means on this platform you can get a loan for your business from other peers. This platform connects borrowers and lenders. Features of iLend are given below.

Multiple Loan option including business loan and personal loans.
Loan Interest rate starting from 12%
Unsecured loans with multiple lenders for offering loans.
No hidden cost.
No penalty if you close the loan before time.

FlexiLoans

FlexiLoans is an online platform for getting funds for all your business needs. You can get options such as vendor financing, line of credit etc. Key features of FlexiLoans are given below.

The loan amount varies from Rs.50000 to 1 Cr.
FlexiLoans provides loans with 12% per annum.
Loan tenure is from 6 months to 12 months.
The payment mode is flexible. You can even pay weekly or monthly.
Customer support is very good.

Final words

I hope the above information about 5 Lending companies for small business loans helps you in getting a loan for your business to fulfill your dreams.

Fyers Vs 5Paisa Discount Broker Comparison – Review

Stock Market

Shitanshu Kapadia

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June 19, 2020

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Fyers Vs 5Paisa Discount Broker Comparison – Review

Fyers vs 5Paisa – Fyers and 5Paisa both are leading discount brokers in India. Let’s talk about them one by one.

Fyers is popular as a technology-focused discount stockbroker. Fyers offers trading with flat brokerage fee across all segments. Fyers provides trading in equity, cash, F&O, and currency derivatives segments.

On the other hand, 5Paisa is the fastest growing discount broker in India. 5Paisa also offers a flat fee per trade. 5Paisa allows a trader to trade across equity, currency, commodity, insurance, and mutual funds.

Let’s compare Fyers and 5Paisa Discount Broker side by side to know which one is the best discount stock broker Fyers or 5Paisa.

Fyers – Review

Fyers is among one of the cheapest stock brokers online. Fyers stands for “Focus Your Energy & Reform the Self”. Thus you can expect better services from Fyers.

Fyers offers trading with a flat brokerage fee of Rs.20 per executed order. Fyers is a technology-oriented discount stock broker that offers a high-performance trading platform accessible over the web as well as mobile.

Fyers Key Features

Thematic Investment with Single click with over 100 themes
Advanced charting features with multiple indicators
Inbuilt Stock screener facility
Portfolio Tracker and Simulator
F&O Analysis Tools
Real-time market-wide analytics
FII/DII data including global market performance information

Fyers Charges

Category	Fees
Equity Delivery	NIL
Equity Intraday Trading	Rs. 20 or 0.01% (whichever is lower)
Equity Options	Flat Rs.20 per order
Equity Futures	Rs.20 or 0.01%(whichever is lower)
Currency Options	Flat Rs.20 per order
Commodity F&O	Flat Rs.20 per order

Fyers Account Opening Charges

Account opening is FREE.

No Annual Maintenance Charges

Demat Debit Charges – Rs. 10

Also Read – Zerodha Vs Angle Broking – Stock Broker Comparison – Review

Fyers Trading Platforms

Fyers One

Fyers one is a desktop trading platform that allows you to do real-time analysis of your stock. You can trade with a click of a button using this platform. This platform allows you to create multiple watchlists for your favorite stocks. This platform provides you 60 different technical indicators for the analysis of market trends. You will also get an advanced charting and FnO analysis tool for deeper fundamental and technical analysis.

Fyers Markets

Fyers Market is a mobile trading app available for android as well as iOS platforms. This app offers multiple features such as faster trading, multiple screeners, preloaded options strategies. Instant order placement and order book update is very food feature of this app. This app also allows customers to transfer funds from Fyers Market App.

Fyers Web Trader

Fyers Web Trader is a web version platform. You can make use of this platform on desktop, mobile as well as tablet. Fyers Web Trader provides advanced features such as chart analysis, price ladder analysis etc. You can trade or execute orders from the charts. It also offers portfolio tracking, future & options strategies etc.

Fyers Pros

Technology Driven High-Performance Trading Platforms
Low Brokerage Charges
Fyers offers thematic Investing option
Allows Automated Trading
Easy to understand pricing structure
No Fee charged for account opening
API Integration available

Fyers Cons

No Option for Commodity Trading
No Option for investment in bonds, Insurance, and Mutual Funds
No Toll-Free Customer Service Available

5Paisa – Review

5Paisa is one of the oldest and fastest-growing discount broker in India. 5Paisa provides a facility to open instant paperless trading and demat accounts. 5Paisa is famous for its lightning-fast trading and advanced mobile application.

5Paisa offers a demat account with zero brokerage. You can trade-in equity, commodities, derivates, futures and options, currency, etc at just Rs.20 per trade.

5Paisa Features

Online Trading at BSE, NSE, and MCX
Offers different accounts for trading and mutual funds
Online Investment in Insurance and Mutual Funds
Three different plans for traders
Flat brokerage and easy to understand the fee structure
Multiple trading platforms with good user interface

5Paisa Charges

5Paisa offers three different plans. Details are given below.

	Optimum	Platinum	Titanium
Stock Delivery	Rs.20 per order	Rs.10 per order	Free
Stock Intraday	Rs.20 per order	Rs.10 per order	Rs.10 per order
Stock F&O	Rs.20 per order	Rs.10 per order	Rs.10 per order
Commodity F&O	Rs.20 per order	Rs.10 per order (For equity options Rs.2 per lot)	Rs.10 per order (For equity options Rs.2 per lot)
Call & Trade	Rs.100 per call	Free	Free

Trading Account Opening Charges – Rs.650 one time

Trading Account AMC – NIL

Demat Account Opening Charges – NIL

Demat Account AMC – Rs.540 per year

5Paisa Margin

Category	Margin
Equity Intraday Trading	Up to 20x
Equity Delivery	Up to 4x
Equity Futures Intraday Trading	3.5x
Equity Options Intraday Trading	1x
Currency Futures Intraday Trading	1x
Currency Options Intraday Trading	1x

5Paisa Trading Platforms

5Paisa Mobile App

5Paisa offers a wonderful mobile trading app. You can do trading at BSE as well as NSE on the move using this app. This app also provides robo advisory on the mobile app. The interface of this mobile app is simple and easy to use. You can buy stocks, trade-in stock, currency, future, and options as well as mutual fund using this app. It is a user-friendly app with very good performance.

5Paisa Web Trading

5Paisa also offers web trading via the website. You need to open 5Paisa website and log in using your computer, laptop or mobile device. The web trading platform everything under a single domain. You can do trading in equity as well as investment in bonds, insurance, etf etc. The web trading platform is integrated with payment gateways and banks for real-time fund transfer

5Paisa Trade Terminal

5Pasia Trade Terminal is another trading platform provided by 5Paisa. Trade Terminal is a platform for advanced traders. This tool provides real-time data, advanced charts with indicators, and multiple other tools for monitoring the market and ordering on a real-time basis.

5Paisa Pros

Online Paperless Account opening
Low and Fix Brokerage Charges
Easy to use advance trading platforms
Very good support and services

5Paisa Cons

5Paisa does not offer Demat & Trading account for NRI
Call and Trade is chargeable in the optimum plan

Fyers Vs 5Paisa Discount Broker Comparision

Takeaway

Fyers is a relatively new stockbroker and focusing more on technology and innovation. If you are looking for only equity trading you may think of Fyers. However, if you are looking for a complete platform that provides facilities of mutual fund investment as well as the insurance you should go for 5Paisa. It will help you to manage and track all your investment in a single place.

*Note- All information given above is collected from the stockbroker website as on 15/6/2020. The account opening charges, margin, and other fees, etc can vary from time to time. You are requested to refer stockbroker websites for the same.

Sensibull Options Trading Platform – Virtual Trade Review

Stock Market

Shitanshu Kapadia

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June 17, 2020

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Sensibull is an options trading platform. Sensibull offers real as well as a virtual trading platform. Sensibull helps traders to decide on the correct strategy based on market conditions. You can also get useful information like trade, strike price, profit and loss potential, etc before entering an option for trade. It also allows you to compare various strategies. You can do real trading as well as virtual trading on this platform.

Suppose you want to use options trading and you are new in the market.

Do you think that Sensex is likely to go up by 80000 in a short time? Or stock of Reliance is going to stay between Rs.2500 to Rs.3500 next month. But you are not sure which option or strategy will work and how you can maximize your return? Should you but Buy Call, Sell Call? What should be the expiry?

Sensibull give answers to the above. You just need to enter data and hit the go button. You will get the right strategies including probable profit, ROI, breakeven, etc.

Key Features of Sensibull Options Trading Platform

Strategy Builder

This platform offers a customized strategy builder. You can create and customize various strategies as per your need. The strategy builder tool is intuitive. You just need to select a few options on the dashboard and the instruments in which you need to invest in. Your strategy will be created. You can create strategies like call spreads, put spreads, straddles, strangles, condors, and many more.

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Analyze your Trades and Positions

You will also get an option to analyze your trade and positions. It is a very good option for traders. You will get various scenario analyses as well as data about the Profit and Loss Account of the company.

Easy options

Easy options are for the beginner. If you have never traded in the option this feature is for you. This option is mainly built to minimize the losses for the beginner. In this option, you need to give three limited risk trades (Up, Neutral, and Down) and enter maximum profit and maximum loss margin, and hit the trade button.

Virtual Trading without real money

Virtual Trading is a platform that allows trading with virtual money. It is one of the best features where you can do virtual trading and learn how trading works. It is like doing a net practice before starting actual trade.

Strategies Wizard

In the strategies wizard, you can predict the market direction and get the best Options trading strategies optimized for your prediction.

FII Buy Sell Data

You will also get information about FII Buy and Sell data. This information helps you to know what FII is doing in the market. Ultimately you can decide your strategy by using this data.

Whatsapp Alerts

On the dashboard, you will find the Whatsapp alerts option. Here you can set the option to get real-time alerts about stock prices and P&L on your Whatsapp. Smart Options Strategies with small risk are published every day on this platform.

Education by Sensibull

You will get free education data on Sensibull. Sensibull platform offers videos, webinars, tutorials, and many other things about how to trade in options.

Stocks Results and Events Calendar

Stock Results and Event Calendar is open to all options. Here you will get information about the result dates of FNO stocks listed on BSE and NSE. You will also get information about macroeconomic events affecting the stock market such as RBI policy changes, budget, etc.

Sensibull Pricing – Plans

Sensibull Options and the Trading platform offers three plans – Pro, Lite, and Free

Pro

Pro plan is available with all features. Six monthly plan cost is Rs.780 per month.

Lite

Lite plan offers somewhat limited options compared to Pro Plan. Six monthly cost of this plan is Rs.480 per month

Free

The free plan offers only limited features. You can also get 7 days free trial on this option.

How to use trade, buy and sell Options at Sensibull?

It is very easy to trade using Sensibull. Visit Sensibull Website.

Click on the Login button from the Topmost navigation bar. You will be prompted to use a partner broker account. You can log in using Zerodha, 5Paisa, Motilal Oswal, ICICI Direct accounts on this platform.
You can also use Gmail ID to log in to this platform. Once you are login you will find various navigation options on the left-most menu.
You need to click on the Strategies wizard. Next is to select a stock name. Suppose you select “TCS” in the stock Name. Next is your view. You can select from “Not Above”, “Above”, “Between”, “Below”, and “Not Below” in the view.
Next is making a selection for the target of the stock and Target date.

E.g If you feel that TCS stock is likely to go above Rs. 2000 level by target date. You can make a selection as given in image below.

Once you are done press the Go Button. You will get various strategies based on your prediction. You just need to click on Trade and enter quantity to execute trade.

How to use Virtual Trade by Sensibull?

To use Virtual Trade, log in to Sensibull platform. On the left-side navigation menu, you will find various options. If you are lite user, you can access the virtual trade platform. Alternatively, you will get 7 day free trial.
Click on the virtual trade. Now click on Create New portfolio. Give a name to your portfolio.

Click on your newly created portfolio. You will find an option to add your own strategy or use an existing strategy.

You need to click on order and select between Nifty and Bank Nifty. You can create a contract for Future with a call, put. You need to enter Lot, Price, and order type Buy or Sell.

You can create multiple portfolios and perform various trades in the virtual environment.

Pros and Cons of Sensibull Options Trading Platform

Pros

Easy to use interface with Dashboard View
Suitable for the beginner as well as an advanced user
Enter the detail and get detail about recommended strategies
Option to use Real as well as the virtual trading platform
Education and Learning resources available
Useful features like Option Analyzer, Futures Conversion, Event Calendar, etc.
Options Trading data analysis on Whatsapp

Cons

Risk reward needs to be done by the trader.
Filtering strategies is difficult for the beginner.
Paid platform

Conclusion

Sensibull is a very good platform for options and trading. The best part is it shows recommended options strategies along with possible profit and loss based on market conditions. The virtual trading platform gives you the comfort of doing net practice before doing actual trade.

In short, if you are a seasoned trader or beginner and want to save time in doing complex analysis and research of finding a correct strategy for the trade you should make use of Sensibull.