|Interest Rate||Minimum: 15.00% p.a. Maximum: 15.45% p.a.|
|Loan Amount||Minimum: Rs.1 lakh Maximum: Rs.5 lakh|
|Benefits||Online eligibility check with minimal documentation and competitive interest rates, loan amount, and charges.|
|Processing charges||1% of the loan amount + applicable GST|
|Prepayment charges||Nil (prepayment allowed only after the payment of first 6 EMIs)|
|Late payment charges||24% p.a. on the outstanding amount from the date of default|
|Stamp duty||As per the law applicable in the state|
|Other statutory charges||As per the law applicable in the state|
|Cheque bounce||Rs.300 for each bounced cheque + applicable GST|
Bandhan Bank offers personal loans against minimum documentation. Some of the documents which are required for making an application are listed below:
Once the documents are submitted and verified, the loan amount will be disbursed within 2 working days.
There are no additional charges for prepayment of a personal loan with Bandhan Bank. However, the applicant will be required to pay a minimum of 6 EMIs in order to be eligible for prepayment of the loan.
If you have applied for a personal loan through BankBazaar, you can know the status of your Bandhan Bank Personal Loan by logging in to your BankBazaar profile. You can check the status of the loan from the website. You will also receive regular updates about the status of your personal loan through SMS or email which is sent to the registered mobile number and registered email ID, respectively. You can also receive push notifications about the status of the loan if you are using the BankBazaar application on your smartphone.
No, you will not be required to provide any collateral. Bandhan Bank Personal Loan is an unsecured loan and thus, you will not be asked to provide any security against the loan.
No, Bandhan Bank does not offer long-term personal loans. It offers personal loans for a period of 12 months to 36 months, i.e. for short-term and medium-term.
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