5 Best Personal Loan Offers for NRIs in India

personal loan
online personal loan

You can avail of a personal loan to borrow money for almost any reason, such as to pay off debt, cover an emergency medical need, buy a new appliance, go on vacation, or even pay off a college loan. You repay the loan over time, often between two and five years, in monthly payments that include interest. When you apply loan online, the majority of personal loans are unprotected, which means they are not supported by assets.

Personal loans give you much-needed financial flexibility during times of need. You don’t need to use any funds to cover the immediate necessity. In this blog, we will discuss the 5 best personal loan offers for NRIs in India. But before that, let us understand the fundamentals of the best personal loan in India.

The Eligibility for Personal Loans

Whether you are applying for a loan in person or you wish to apply personal loan online, you need to acknowledge your eligibility for it.

Self-employed persons

If you run a firm overseas, it must have been continuously operating for at least three years. The likelihood of your application being approved increases dramatically if you possess any other estate in India.

Remunerated individuals

If you are a paid professional in the nation where you work, getting an NRI Personal Loan shouldn’t be difficult. You must have proof that you have been employed in your present position for at least a year.

Income standards

The income requirement is vital if you are looking for the best personal loan in India. Lenders prefer borrowers who have a history of consistent income over the previous several years and who they anticipate will continue in the future. The amount of the loan you have requested and the nation in which you work will determine the minimum income necessary for acceptance.

India’s top personal loan deals for NRIs

Now that you know the criteria for applying for personal loans, let us see some of the top personal loan deals for NRIs:

Kotak Mahindra Bank

Personal loans for NRIs are available from Kotak Mahindra Bank. The NRI personal loan is handled quickly and needs little paperwork. Clients get very easy access to handy payment methods for loan repayment.

State Bank of India

When we talk about the best personal loan in India, the discussion starts and ends with the State Bank of India. For non-resident Indians, SBI NRI services include a range of products, including online overdrafts against NRI deposits, loans over NRI deposits, and NRI car loans. You must convince the bank concerning your earnings, current deposits, and assets to use this facility.


Unsecured Personal Loans are available from ICICI Bank to NRIs without the need for collateral. From ICICI Bank, you may obtain a personal loan of up to ten lakhs. The application procedure is straightforward, requires little paperwork, and is processed quickly. The largest payback term offered is 36 months, and the interest rate begins at 11.25% per year.


HDFC is not a new name when you wish to apply personal loan online. Unsecured Loans from HDFC Bank are not available to NRIs. If taken out by NRIs, these loans can be secured loans. Your holdings, such as equities, mutual funds, insurance plans, etc., may be used as collateral for an overflow.

South Indian Bank

The South Indian Bank provides an NRI Personal Loan up to Rs. 25 Lakh for needs relating to education, healthcare, and travel. Salary employees in governmental and non-governmental entities, independent professionals, and independent non-professionals like dealers and distributors are the target market.


Obtaining a loan is very much dependent on your eligibility. Make sure you fulfil all conditions by carefully reading the details.


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