Apply Personal Loan Online Upto Rs. 25 Lacs
Details on Personal Loan
Personal Loan
Overview of Personal Loan
Personal Loan is an instant financial relief against your financial woes. There may rise a situation where you need immediate fund to meet any kind of contingencies. At that point, Personal Loan is your best option. Starting from medical expenses to paying off debts, house renovation to purchasing consumer durable goods, you can Personal Loans for almost all kinds of needs. When you opt for Personal Loan apply online, you can avail easy Personal Loan by filling up Personal Loan application form online and fulfilling Personal Loan eligibility criteria. You do not have to keep any collateral with the financial institution when availing unsecured Personal Loan. So, Personal Loan interest rate is slightly higher than the secured loan. To obtain Personal Loan best rate, you need to have a credit score of 750 or more with a good repaying capacity. You can easily avail Personal Loan interest rate at an attractive range by satisfying Personal Loan eligibility. Moreover. Personal Loan documents requirement is very minimum which you need to submit. Personal Loan online apply enables easy loan approval and disbursal. Based on Personal Loan eligibility, you can obtain loan amount up to Rs. 50 lakhs (may differ) with flexible loan repayment tenure ranging from 1 to 5 years.
Features & Benefits of Personal Loan
Unsecured Personal Loan offers simple paperwork and a quick loan approval process. Availing Personal Loan online helps you in Personal Loan comparison and also get Personal Loan details online. Personal Loan interest rate primarily depends on your CIBIL score and your loan repaying ability. But if you are a Personal Loan defaulter or have Personal Loan bad credit, then there is a huge possibility that you might not get a Personal Loan. So, always try to maintain a good credit history and repay the loan at within the stipulated time period to avail Personal Loan at a lower rate. When you go for Personal Loan apply online, you are benefitted with Personal Loan best offer.
Here are some of the features and benefits of Personal Loan-
- You can go for Personal Loan apply online after going through Personal Loan comparison online and checking Personal Loan best rates of different banks and NBFCs.
- Personal Loans amount range between Rs. 50,000 to Rs.50 lakhs which might vary depending on Personal Loan eligibility and the lending institutions.
- You can repay Personal Loans by easy EMI option which is very budget friendly. The flexible loan tenure lies from 1 to 5 years for Personal Loan repayment.
- You need to go through simple paperwork for Personal Loan apply. The Personal Loan documents requirement is very minimum which you have to submit.
- Personal Loan interest rate is very attractive and depends majorly on your CIBIL score and your income level.
- The hassle of Personal Loan EMI calculations gets simplified by using Personal Loan EMI calculator.
- If you have any ongoing loan payments, you can opt for Personal Loan balance transfer at a lower interest rate. This will reduce your interest payment towards your EMI payment.
- After you opt for Personal Loan apply online, you can check your Personal Loan application status online.
- You need to pay a very minimal processing fee for Personal Loans and there is no hidden charges to hurt your budget.
- You can prepay Personal Loans EMI by paying a certain foreclosure charges which is also very low.
Personal Loan Eligibility Criteria
In order to avail Personal Loan interest rate at an affordable range, you need to satisfy Personal Loan eligibility criteria which is very minimal. Personal Loan apply at an early age will help you to secure Personal Loan interest rate at a lower rate. This is because you will have a higher repaying capacity than the older applicants. Moreover, you must have a good CIBIL score and a decent income level to accomplish Personal Loan eligibility criteria.
|
Personal Loan Eligibility Criteria |
Salaried |
Self-Employed |
|
Age |
21-60 years |
25-65 years |
|
Profession |
Working in any private sector, MNCs or any government organization |
Sole Propritorship, Business Professionals, partnership firms, private or public ltd. companies,etc. |
|
Work Experience |
Minimum 2 years of working experience with a minimum 1 year in the present organization |
Stable Business Continuity for a minimum period of 3 to 5 years |
|
CIBIL score |
750 or more |
750 or more |
|
Income |
Min- Rs. 20,000 |
Min Turnover- Rs. 1 crore |
|
Loan Amount |
Up to Rs. 50 lakhs (might vary) |
Up to Rs. 50 lakhs (may vary) |
Personal Loan Documents Requirement
Here is the list of Personal Loan documents requirement that you need to submit when you opt for Personal Loan apply-
- Loan application form
- Passport size photograph
- ID proof- PAN card, Passport, Driving License, AADHAR card
- Residential proof- Any kind of Utility bills like Gas or Electricity bill, Water bill, Passport, Driving License
-
Salaried Individuals
- Recently updated bank statement of last 6 months
- Copy of Form 16
- Salary slip of last 3 months
-
Self-employed
- Copy of ITR of last 3 years
- Audited Balance Sheet of last 2 years, Copy of Profit & Loss statement of last 2 years
- Verified copy of Sales Tax Certificate/Memorandum and Articles of Association/Partnership Deed/Trade License
Personal Loan Interest Rates of different financial institutions
To avail Personal Loan best rate you can easily opt for Personal Loan comparison of different banks and NBFCs. Here is the list of Personal Loan interest rates of different financial institutions-
|
Banks |
Loan Tenure |
Interest Rates |
Pre-Closure Charges |
Processing Fees |
|
ICICI Bank Personal Loan |
1-5 years |
11.49%* |
5% of outstanding principal + GST |
Rs. 999* |
|
YES Bank Personal Loan |
1-5 years |
12.49%* |
Within 12 to 24 months: 4% Within 24 to 36 months: 3% Within 36 to 48 months: 2% After 48 months :No charges. |
2% or 3% of the principal |
|
IndusInd Bank Personal Loan |
1-5 years |
12.99%* |
4% of outstanding principal |
Up to 2.50% |
|
Axis Bank Personal Loan |
1-5 years |
15.50%* |
NIL |
Up to 2.00% |
|
HDFC Bank Personal Loan |
1-5 years |
10.99%* |
Between 2% to 4% of the outstanding principal. |
Up to 2.50% |
|
Bajaj Finserv Personal Loan |
1-5 years |
14.75%* |
NIL |
Up to 3% |
|
IndiabullsDhani Personal Loan |
1-5 years |
11.99%* |
5% if less than 6 months. |
Up to 5% |
|
Kotak Mahindra Bank Personal Loan |
1-5 years |
11.50%* |
5% of outstanding principal. |
Up to 2.5% |
|
IDFC First Personal Loan |
1-5 years |
10.99%* |
4% of outstanding |
2% – 4% |
|
Aditya Birla Capital Personal Loan |
1-5 years |
11.75%* |
4% of principal outstanding in 1st year, 3% in the 2nd year, and thereafter preclosure permitted after 6 months. |
1% of principal. |
|
Capital first Persona Loan |
1-5 years |
16%* |
4% of outstanding |
Up to 2.49% of the loan amount |
|
TATA Capital Personal Loan |
1-6 years |
13.99%* |
4.5% of the outstanding principal. And NIL for the initial 6 months |
Up to 2% |
|
Fullerton India Personal Loan |
1-5 years |
17.25%* |
4% of outstanding principal. |
Up to 2% |
|
ECL Finance Personal Loan |
1-5 years |
17.50%* |
4% of principal amount outstanding+GST |
Up to 2% of the loan amount |
*Interest rates change time to time.
