Personal Loan in India

Personal Loans


Personal Loan is an unsecured loan which can be used for any purpose like spending for marriages,education,renovation of your home as well as for holidays. Personal loan will be provided without any security or collateral.

We provide all the information regarding personal loans. right from the interest rates, eligibility and documents required for processing.

Personal loans can be borrowed from public sector banks as well as from private sector banks and the loan ranging from 50,000 to 15,00,000.00. Each and every bank in india provides personal loans at varied rate of interest that depends on some of the key factors like eligibility as well as repaying capacity for the amount borrowed.

Personal loans eligibility criteria:


1.Minimum salary of Rs.15,000.00 pm
2.Salary must be credited in your bank account.
3.Minimum age to get personal loan: 21 years.
4.Minimum work experience: 2 years.
5.CIBIL score above 750 is advantageous.

Documents required for processing:


1.Identity proof: Passport/ Driving License/PAN card/ Photo credit card (with embossed Signature and last two months statement)/ banker’s sign verification (Anyone of the above)
2.Address proof: Passport/ Telephone bill/ Electricity bill/ Title deed of property/Rental agreement/ Driving license/ Election ID card (Anyone of the above)
3.Age proof: PAN Card/ Passport/ Driving License / School leaving certificate/ Voter’s card/BirthCertificate/ LIC policy (only for age Proof). (Anyone of the above)
4.Income proof: Latest 2 or 3 months salary slip
5.Employment proof: Form 16/relieving letter/appointment Letter (for last two months) (Anyone of the above)
6.Banking details : Bank statements for 3 months ( latest).

Banks providing personal loans:


BANKS

RATE OF INTEREST

PROCESSING FEE

PRE CLOSURE CHARGES

AXIS BANK 
HDFC BANK 
ICICI BANK 
KOTAK MAHINDRA BANK
ING VYSYA BANK
STANDARD CHARTERED 
STATE BANK OF INDIA
CITI BANK
BAJAJ FINSERVE 
INDUS IND BANK
FULLERTON INDIA

13.50% to 24%
12.75% to 20%
12.75% to 18.00%
15% to 24%
13.75% to 17.25%
16% - 17%
18.50%
15%to16%
15% - 16%
14% to 16%
16% - 32%

1.50% to 2.00% 
Up to 2.50%
Upto 2.25%
Upto 3%
Upto 2%
2% - 5%
N. A
1%to2%
Upto 2%
1% - 2%
2%

NIL
2 to 4 %
5%
5%
4%
2%
N. A
4%
NIL
4%
4%

 


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