There is hope for those customers looking for personal loans but could not avail them so far because they have been working with companies which are not listed by the banks, otherwise known as Non-listed or Non-Categorized companies. Till now, for employees of such companies, it has been challenging to seek larger size Personal Loans because such Non-listed companies are usually not pre-approved or listed by the banks for purpose of extending loans due reasons including lacking in financial performance, market share or brand name among others.
| Banks | Interest rate (%) | Processing fee |
| Allahabad Bank | 8.55% – 13.05% | 1.06% of loan amount (Minimum Rs. 1068) |
| Andhra Bank | Clean Loans: 11.70% – 13.20% | Not available |
| Bank of Baroda | 9.85% – 15.45% | 2% of Loan amount (Minimum: Rs.1000 to Maximum Rs.10,000) |
| Bank of India | 12.10% – 14.10% | up to 2% of loan amount (Minimum Rs.1000 to Maximum |
| Rs.10,000) | ||
| Bank of Maharashtra | 11.50% – 12.50% | 1% of the Loan Amount (Min.:Rs.1000) |
| Canara Bank | 11% – 14% | 0.5% of the loan amount (Minimum Rs.1000 and Maximum Rs. 5000) |
| Central Bank of India | 11.60% | Rs. 500 + S.T |
| Corporation Bank | 12.85% – 13.85% | 1.50% (Min. of Rs. 500) |
| Dena Bank | 13% – 14% | 1% of loan amount |
| IDBI Bank Limited | 10% – 12.75% | up to 1% of the loan amount + applicable taxes |
| Indian Bank | 10.65% – 11.25% | 0.51% on loan amount with a max. of Rs. 510 |
| Indian Overseas Bank | 11.95% – 13.70% | 0.50% (Upto Rs. 5,00,000) |
| 0.75% (Above Rs. 5.00.000) | ||
| Oriental Bank of Commerce | 10.25% – 12.25% | 0.50% of the loan amount with a minimum of Rs. 500 + Service tax, if any |
| Punjab & Sind Bank | 12.80% – 14.05% | 1% of the loan amount |
| Punjab National Bank | 12.05% – 15.05% | 1.80% of loan amount (Rs. 270 – Rs. 450) |
| State Bank of India | 11% – 17.05% | up to 1% of the Loan amount |
| Syndicate Bank | 12.65% – 13.65% | 0.50% of the Loan amount with minimum of ` 500 |
| UCO Bank | 11.40% – 11.65% | 1% of loan amount (minimum Rs.750) |
| Union Bank of India | 13.65% | 0.50% of the loan amount, subject to minimum of Rs. 500, plus applicable GST. |
| United Bank of India | 13.95% – 14.20% | 1% of the loan amount sanctioned |
| Vijaya Bank | 12.55% – 13.55% | Processing charges: up to 0.75% of loan amount + GST. |
| Axis Bank Ltd. | 15.75% to 24% | 1.50%-2.00%+GST |
| Bandhan Bank Ltd. | 15%-18.55% | 1%+GST |
| Catholic Syrian Bank Ltd. | 12%-19% | 1% of loan amount subject to minimum of Rs.250 |
| City Union Bank Ltd. | No Information available on website | No Information available on website |
| DCB Bank Ltd. | They do not provide PL | They do not provide PL |
| Dhanlaxmi Bank Ltd. | 10.40%-10.90% | Upto 2.5% of loan amount subject to minimum of Rs.1250 |
| Federal Bank Ltd. | 11.49%-14.49% | 0.50% of loan amount subject to minimum of Rs.500 |
| HDFC Bank Ltd | 11.25%-20% | Upto 2.5% of loan amount subject to minimum of Rs.1999 |
| ICICI Bank Ltd. | 10.99%-22% | Upto 2.25% of loan amount+GST |
| IndusInd Bank Ltd | 10.50%-30.50% | Upto 2.5% of loan amount subject to minimum of Rs.1000 plus taxes |
| IDFC Bank Ltd. | Rates not available on website (As per our info- 10.99%-15%) | Upto 2% of loan amount |
| Jammu & Kashmir Bank Ltd. | They provide Consumer Loans | They provide Consumer Loans |
| Karnataka Bank Ltd. | 12.70% | 0.50% of loan amount subject to minimum of Rs.250 |
| Karur Vysya Bank Ltd. | 15.90% | 0.40% of loan amount |
| Kotak Mahindra Bank Ltd | 10.99%-24% | Upto 2.5% of loan amount+GST |
| Lakshmi Vilas Bank Ltd. | Do not provide Personal Loan | |
| Nainital bank Ltd. | Website not updated | |
| RBL Bank Ltd. | 11%-26.25% | Upto 2.5% of loan amount |
| South Indian Bank Ltd. | 11.55%-14.45% | 2% of loan amount |
| Tamilnad Mercantile Bank Ltd. | 14.80% | 1% of loan amount |
| YES Bank Ltd. | 11.25%-17.5% | Upto 2.5% of loan amount subject to minimum of Rs.999 |
Very recently, Citibank announced a special offer for providing Personal Loans up to a maximum of 15 Lakhs to employees of such Non-listed companies. While earlier Citibank’s Suvidha account holders from Non -listed companies could avail of personal loans upto 5 Lakhs, which was contingent on such customers having an ongoing saving bank account with Citibank. However, this latest product opens up the offer to employees of non-listed companies who have not maintained any savings account or relationship with Citibank previously.
The rate of interest for Citibank Personal Loan to employees of Non-listed companies is presently 14.99%. Moreover, the facility of instant e-approval has been proposed to ease the process of loan application.
The availability of personal loans to such category of people has come at a time when customers’ needs and aspirations are growing in step with the growth of the economy.
Top 3 Lenders proving Personal Loans for Non-Listed Companies
1. Omozing
Omozing helps make Smart Money Moves for a Lifetime. They strive to get lowest interest rates and best terms for your Online Applications at www.Omozing.com . We’ve made business lending smarter, faster and easier by transforming the approval process from stumbling blocks to stepping-stones. This enables borrowers to not just get access to capital, but also understand what areas they need to work on in order to enhance their credit profile. Omozing ensures that Borrowers get a secure, safe and reliable application process that be tracked online.
5 Reasons to choose Omozing
1. Loans from INR 10k to INR 10 lakhs
Personal Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 10,000 to INR 10,00,000. The Minimum and maximum repayment period ranges from 1 month to 48 months. CIBIL 600+ all company categories (including LLP, Self Employed, Proprietorship)
2. Cutomised Tailor Options
- Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.
- You have the freedom to utilise your loan anyway you want, whether for business or for immediate personal needs.
- Flexible repayment options depending on your specific cash flow and budget, as well as conditions that is beneficial to your position.
3. Lower CIBIL
While most lenders require borrowers to have a CIBIL score of over 750, at Omozing.com provide loans even with 600. Besides the CIBIL score, we also considers your age, employment status, and net monthly income.
4. Ways to apply
You can apply for a personal loan through us by 2 ways:
1. You can download our Mobile Application from Google app store.
2. Apply on portal using out Personal Loan link
5. Prompt Loan Disbursal
An easy online application process facilitates speedy verification and disbursal of loan. Get KYC verified from the comfort of your home and have our loan manager take care of an instant transfer of funds to your account.
2. SBI Personal Loan
SBI offers SBI Saral personal loan customized in a manner that helps an individual meet varied kinds of personal expenses. The interest rates at which these loans are offered are quite competitive with no hidden costs or administrative charges, no prepayment penalties. It also comes with easy repayment term.
Eligibility for SBI Personal Loan
The eligibility criteria you will have to fulfil in order to avail this personal loan scheme are:
- You must have a salary account with another bank.
- Minimum and maximum age of eligibility for this scheme is 21 years and 58 years respectively.
- You must have a minimum work experience of 1 year.
- You must be drawing a minimum monthly income of Rs.15, 000.
SBI Personal Loan Details
- Interest Rate – 9.60% p.a. onwards
- Loan Amount – Up to Rs.20 lakh
- Minimum Income Required –Rs.15,000
- Loan Tenure – Up to 6 years
3. FundsTiger
FundsTiger is a popular online loan platform. Our consumers come to us for their money requirements, whether they are short-term or long-term, small-ticket or large-ticket, personal, family, or business. FundsTiger team brings a wealth of international financial knowledge to the table and tailors it to your specific needs. Money advice, credit advice, wealth planning, and, of course, credit are all available to our clients.
Faster Funding – We are over 80% faster than most traditional banks and lenders
Total Focus on Your Wins – We leverage our technology and business expertise for your financial success.
Customized Loans – We can structure and customize loans for your unique needs
Customer needs in Forefront – Your needs are our priority. We promise to deliver you with services that are best on our capabilities. By handpicking the personal loan offers based on customer profile, we try to give you the most personalised experience.
Support you can rely upon – Monitor your loans 24/7 and reach out to a super-responsive support service
Relationships, not Borrowers – We believe in building relationships, not just lending to borrowers.
More Value for Money – We offer the best value for money loans when compared to all our competitors
Real-time Customer Support – Our customer support team is fast and efficient to clear all your doubts regarding personal loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.
Cutomised Tailor Options – Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.