No my dear, a personal loan is not easy to procure. These private players make it easy to take. Do you know Personal Loans are also offered by PSU Banks. It is just that they don't popularise them as they may face recovery problems.
Almost all the formalities are same in case of you are taking a Personal Loan. It is just that in case of Private Banks, their Representative picks up all the documents on a phone call. and in case of PSU Bank, you have to go every time to the Branch to submit the documents. So, one feel that it is easy to get PL from Private Banks. But my dear interest rates are really high in case of Private Banks.