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    Bankbazaar Bandhan Bank Personal Loan

    We found 0 Bandhan Bank Personal Loan
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    Bandhan Bank Personal Loan is Rated as "Blown Away!" by 2 Users

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    Bandhan Bank Personal Loan

    With an aim to make financial solutions available for all individuals, Bandhan Bank offers a plethora of financing products to its customers. Loan product offerings of the bank include retail loans, small enterprise loans, MSME loans, agricultural loans, micro loans, etc. Bandhan Bank, a fully-owned subsidiary of Bandhan Financial Holdings Ltd., was established on 23 December 2014. It offers personal loans to its customers to help them fulfil all their financing requirements. Bandhan Bank Personal Loans are easily accessible and can help customers meet all their short-term financial requirements such as medical expenses, wedding expenses, vacation expenses, home renovation, purchase of consumer durables, etc.

    Perfect Personal Loan Deals for you

    You're probably eligible for an Bandhan Bank Personal Loan if you are

    Bandhan Bank Personal Loan Minimum Age

    At least 21 years old

    Bandhan Bank Personal Loan Maximum Age

    Less than 57 years old

    Bandhan Bank Personal Loan Eligible Employment Type

    Salaried / Self “ Employed
    with regular income

    Bandhan Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required

    Your Bandhan Bank Personal Loan amount eligibility is based on these factors

    Bandhan Bank Personal Loan Minimum Salary

    Minimum income required
    40 % of gross income

    Bandhan Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs.5 lakhs

    Bandhan Bank Personal Loan EMI

    EMIs of other loans lower
    your eligibility

    Increase your eligible Bandhan Bank Personal Loan amount by these steps

    Bandhan Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Bandhan Bank Personal Loan Tenure

    Choose longer tenure loan up to 36 months

    Documentation needed to apply for an Bandhan Bank Personal Loan

    • 1. Duly-filled application form
    • 2. One passport-size photograph
    • 3. Proof of identity such as a copy of Passport, Voter’s ID Card, Driving License, Aadhaar Card, etc.
    • 4. Proof of address such as Aadhaar Card, Ration Card, Voter’s ID Card, Passport, utility bills, etc.
    • 5. A cheque for the loan processing fee
    • 6. Bank statement of the previous 3 months or bank passbook of last 3 months
    • 7. Documentation for salaried applicants:
      • The latest salary slips for three months
      • Recent salary certificate with the latest Form 16
    • 8. Documentation for self-employed applicants:

      • ITR for the last 2 years with profit and loss account, income calculation, and balance sheet
      • The latest bank statement

    Please note that the customer will have to furnish the original documents provided as proof of identity, address, and signature for verification at the bank branch in case the loan application is done online. Additionally, the applicant does not need to provide any documents as income proof when the application is done online and the loan is eligible under a pre-qualified offer.

    Bandhan Bank Personal Loan Interest RatesUpdated on 23 Jan 2019

    Bandhan Bank Personal Loan Details
    Interest rate 14.00% p.a. to 17.86% p.a. (from 1 April 2016 onwards)
    Loan repayment tenure 12 to 36 months
    Loan processing fee 1% + applicable taxes
    Prepayment charges None

    Bandhan Bank Personal Loan Benefits

    Before you choose to apply for a customised personal loan from Bandhan Bank, you should learn about the features of this financing scheme mentioned in the following list:

    • Easy eligibility check Customers can check their eligibility for Bandhan Bank Personal Loan anytime, anywhere by contacting the bank representatives through internet banking. Borrowers also have the flexibility of checking their eligibility for this loan scheme across all branches of the bank.
    • Minimal documentation Bandhan Bank requires minimal documentation in order to apply for a personal loan. Due to this reason, your loan application will be processed quickly.
    • Quick loan processing and disbursal Once you apply for this scheme, your loan eligibility will be checked and the loan application will be processed in no time. After your loan application is approved and your documents are verified, the loan amount will be deposited to your bank account within the next 2 working days.
    • Loans to suit all requirements Bandhan Bank offers customised personal loans to its customers in order to provide the right financing solution according to their specific situation, requirement, and repayment capacity.
    • Special offers and discounts First-time borrowers of Bandhan Bank Personal Loan might be eligible for special offers, discounts, interest rates, etc. However, Bandhan Bank employees might not be able to avail these offers and schemes.
    • Zero prepayment charges If you have a sudden inflow of cash any time during the loan tenure, you might want to pay your loan in advance to reduce your burden. Many lenders charge an additional fee for this service. However, Bandhan Bank doesn’t levy any prepayment charges in case you decide to opt for this facility.
    • No hidden charges All charges associated with the Bandhan Bank Personal Loan are upfront. So, you will not have to face any surprises as this loan scheme doesn’t carry any hidden charges.

    Bandhan Bank Personal Loan Features

    • The personal loan amount can be approved and disbursed within 2 days.
    • Since customers do not have to inform the bank how the loan amount secured using this scheme will be spent, they can use this money for various purposes to meet to their short-term financial need.
    • When a person applies for this loan, he or she is levied a processing fee of 1% on the loan amount in addition to the applicable taxes.
    • Under Bandhan Bank Personal Loans, the prepayment facility can only be availed if a borrower has repaid at least 6 equated monthly installments (EMIs) of the loan on time.
    • The borrower might have to pay for the stamp duty and other statutory charges as applicable under the concerned State Government.
    • A loan processing charge of 1% on the loan amount plus GST is levied on all personal loans offered by Bandhan Bank.
    • Customers have to pay Rs.300 plus GST if the cheque provided by them bounces back due to any reason.

    Bandhan Bank Personal Loan Interest Rates

    As per the recent instructions from the Reserve Bank of India (RBI), the rate of interest charged on Bandhan Bank Personal Loan is based on the Marginal Costs of funds-based Lending Rate (MCLR). This rate is dependent on the repo rate fixed by the RBI and changes if the repo rate increases or decreases.

    Furthermore, the rate of interest offered by Bandhan Bank also depends on the eligibility and income criteria decided by the bank for this scheme. Currently, the interest rate offered by the bank varies from 14% p.a. to 17.86% p.a.

    Bandhan Bank Personal Loan Eligibility Criteria

    • Minimum age - The minimum required age to be able to get funds under this scheme is 21 years.
    • Maximum age - In order to be eligible for this loan, the maximum age of the candidate should be less than 57 years.
    • Employment status - The applicant should be a salaried professional or self-employed person with a regular source of income in order to be eligible for a loan under this scheme.
    • Relationship with the bank - Customers of the Bandhan Bank with a standing relationship of at least 6 months are eligible for a personal loan from this bank.
    • Bank account activity - The individuals applying for this loan should have an active bank account with at least one entry for credit and one for customer-induced debit every month.

    Bandhan Bank Personal Loan FAQs

    1. What are the minimum and maximum loan amounts that I can withdraw under Bandhan Bank Personal Loan?

      When a customer applies for this loan scheme, he or she can get a loan amount between Rs.1 lakh and Rs.5 lakh if all the eligibility criteria are fulfilled.

    2. Will I have to pay any additional fees if I choose to prepay my Bandhan Bank Personal Loan?

      No, Bandhan Bank does not charge any prepayment fees from its customers under this scheme. However, in order to be able to prepay the personal loan, borrowers should make on-time payment of at least 6 EMIs of the loan.

    3. What is the penalty charge for Bandhan Bank Personal Loan in case of loan default?

      If a customer defaults during the repayment of a Bandhan Bank Personal Loan, he or she will be levied a penalty of 24% p.a. on the basis of the outstanding loan amount from the date of default.

    4. Will I have to provide any collateral in order to avail a loan under Bandhan Bank Personal Loan?

      The Bandhan Bank Personal Loan is an unsecured loan. Therefore, customers will not have to provide any collateral or third-party guarantor to secure a loan under this financing plan.

    5. What are the minimum and maximum loan tenures available under Bandhan Bank Personal Loan?

      Borrowers can opt for a loan repayment tenure ranging between 12 months and 36 months under this scheme.

    Customer Reviews

    • review Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan from bandhan bank around 4 months ago. The customer support service was supportive from the bandhan bank. They have disbursed the loan amount within 10 days of time. The rate of interest and the charges are low with the BANDHAN BANK personal loan services.
      Was this review helpful? 22
      , bangalore
      Reviewed on Mar 15, 2018
    • review Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with Bandhan bank was good, they provided a very good service and the process was very smooth. No documents were required as i hold a salary account in this bank The loan amount was for 3 lakhs with interest rate of 14% which is nominal. Customer service was good and they responded on time.
      Was this review helpful? 38
      , mandsaur
      Reviewed on Nov 16, 2017
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