Personal Loan with Personal loan Eligibility could be the apparent decision if you’d like finance for private financing, medical emergencies, weddings, travel abroad, holidays, child education, and buying durable things. A personal loan is usually the best option in case you have a good lot of money.
Personal loan Eligibility
- I have the absolute minimum monthly income of Rs. 18500 required in the metro.
- In other cities just like Tier 1, 2, and several others, a minimum per month income of 12500 is required.
- 21 years should be the minimum age.
- Regular income with valid data of income like pays cheques, and account transfers. By no lender, cash income isn’t deemed.
- Minimum six months stability in current company for salary, only 2 yrs ITR for self a substantial employed/ professionals.
- 750 items must be obtained in the CIBIL SCORE.
Latest update by 27 Mar 2020: No EMI for a couple of months. This waiver of EMI will not affect your CIBIL score on your personal/ home/ car loans. Your own statement will never be just in case you do not pay interest.
Personal loan Interest Rates 2022
The cheapest interest on financing is obviously the best, which is useful to the borrower. Interest rates on personal loans range from 11. 59% to 22. 00%. Some banks offer customers special rates of interest based on their company, profile, income a month, and residence situation. Banks just offer CAT Some-based employees the lowest rates. Look at the unsecured loan interest levels of major finance institutions below:
Compare Top Personal Loan Banks on the Basis of Interest Rates, Processing Fees, Prepayment Charges & Approval Time
|Bank||Interest Rates||Processing Fees||Fore Closure Charges||Disbursal Time|
|Yes Bank||10.45% – 16.99%||Up to 2%||Nil Above 7.5Lacs||48 Working Hours|
|Kotak Mahindra Bank||10.50% – 16.99%||Rs.999 – 2%||Zero above 10 lakhs loan amount, Else 5.00%||60 working hours|
|HDFC Bank||10.75% – 13.45%||up to 3999 + GST||Zero above 10 lakh, Otherwise 4.00%||48 working hours|
|IDFC First||10.99% – 21.00%||Up to Rs.9999||up to 5%||60 working hours|
|ICICI Bank||11% – 17.50%||0.50% – 2.25%||Zero above 10 lakh & 12 EMI Paid, Otherwise 5.00%||48 working hours|
|Standard Chartered||11.00% – 12.50%||1%||Up to 5.00%||3-4 Working Days|
|Citibank||11.49% – 16.50%||Up to 3%||72 working hours|
|SBI Personal Loan||11.95% – 16.55%||2.00% – 3.00%||NIL||72 working hours|
|Tata Capital||11.99% – 17.00%||1.25% – 2.50%||NIL Foreclosure charges after 12 EMI||72 working hours|
|Fullerton India||11.99% – 26.00%||2.00%||Up to 7.00%, 0% after 3 years||48 working hours|
|Bajaj Finserv||11.99% – 16.00%||Up to 2.00%||Up to 4% post 1st EMI clearance||48 working hours|
|Indus Ind Bank||12.99% – 20.00%||Up to 50% off *||60 working hours|
|Axis Bank||15.00% – 20.00%||2.00%||N.A|