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    Chandigarh Personal Loan

    Chandigarh is one of the most popular cities in India and houses a variety of banks and financial institutions that offer personal loans at attractive interest rates. With interest rates starting from just 10.99%, residents of Chandigarh can find it relatively easy to avail personal loans in the city. Repayment tenures are flexible and extend up to 5 years, and with easy eligibility criteria and hassle-free documentation processes.
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    We found 33 Chandigarh Personal Loan
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    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.75% - 18.00% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
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    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
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    20% - 22%  Fixed
    2.50%
    2L Max
    1-3 Years
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    Response Time : Within 30 minutes
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    11.25% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.25% - 19.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
    Response Time : Within 30 minutes
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
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    11.25% - 22.00% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
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    Chandigarh Personal Loan is Rated as "Great!" by 306 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Chandigarh is a popular city as well as a union territory. It functions as the capital for 2 neighbouring states, viz. Punjab and Haryana. The city has a marvellous layout, which was planned and designed by Le Corbusier, a talented Swiss-French modernist architect. The city is administered by the Union Government, and not by any of the 2 states. The population in this city is 10.6 lakh as of now.

    If you are interested in applying for a personal loan in the city of Chandigarh, you can choose a bank or a non-banking financial company (NBFC). You will be able to apply online by visiting your lender’s official website or by going on a neutral third-party financial web portal. You could also use the conventional method of applying for a loan by directly going to your lender’s branch.

    Before you apply for a loan, make sure you calculate your prospective equated monthly installments (EMIs) by using an online EMI calculator. You should also make it a point to compare multiple rates of interest, processing fees, prepayment fees, and other charges to get a clear idea about your overall personal loan expenses.

    Documentation needed to apply for an Chandigarh Personal Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Chandigarh Personal Loan Interest RatesUpdated on 25 May 2019

    Chandigarh Personal Loan Details
    Interest Rate (Monthly reducing balance) 13.49% - 34%
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loans offered by Various Lenders in Chandigarh

    A few of the prominent banks and non-banking financial companies (NBFCs) that offer personal loans in Chandigarh include:

    • Bank of Punjab
    • UCO Bank
    • IndusInd Bank
    • Punjab and Sind Bank
    • Kotak Mahindra Bank
    • Karnataka Bank
    • Oriental Bank of Commerce
    • State Bank of India (SBI)
    • The Chandigarh State Co-Operative Bank Ltd
    • Unit Trust of India
    • Karur Vysya Bank
    • Indian Overseas Bank
    • ING Vysya Bank
    • Standard Chartered Bank
    • City Union Bank Ltd
    • Dena Bank
    • Deutsche Bank
    • Tata Capital
    • Citibank
    • Andhra Bank
    • Canara Bank
    • IDBI Bank
    • Aditya Birla
    • Vijaya Bank
    • ICICI Bank
    • Axis Bank
    • HDFC Bank
    • Syndicate Bank
    • Punjab National Bank
    • Corporation Bank
    • South Indian Bank
    • Karnataka Bank
    • Federal Bank

    How do I get a Personal Loan with the lowest interest rate in Chandigarh?

    Knowing the components of a loan that affect the interest rate is imperative when applying for a loan. Most people, blindly avail loans from the banks holding their salary account and leave all the calculations and assessments to be made by the bank. For first-timers, these are the areas you need to look into and improve if you wish to avail a personal loan at the lowest interest rate possible.

    Credit score - The credit score of the individual directly influences the interest rate that the bank will offer you when availing a loan. If the credit score is good (anything above 750), the interest rate offered by the bank will be low. If the credit score is below 750, the bank will place a higher interest rate on the loan.

    Down payment - Making a down payment upwards of 20% of the loan amount will result in you getting a better interest rate on the personal loan.

    Debt-to-income ratio - When a bank or NBFC makes a verification of the credit profile of the loan applicant, the debt-to-income ratio is one of the first things that is taken into consideration. Having a debt-to-income ratio less than 40% of your monthly net income is ideal when availing a loan. If it is more than 40%, the bank might reject the loan application (based on your income) or might apply a higher interest rate if the application comes through.

    Loan shop - Facilitating the use of financial portal such as BankBazaar has made loan shopping easy. Using the BankBazaar website, individuals can compare loan offers from different banks and NBFCs and choose one that suits their financial situation. In addition, customers can even make EMI calculations and check their CIBIL score on the website.

    Experience and employer - The number of years of experience you have and the company you work for affects the bank’s decision to either give you a higher or lower interest rate. Working for a reputed company will increase the bank’s trust in you making the repayment in time.

    Negotiate - One of the more important aspects when availing a loan is to negotiate with the bank executives on the interest rate of the loan you wish to take out. Making a negotiation might just get you an ideal interest rate on your loan.

    Personal Loan Interest Rates in Chandigarh 2018

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.59% - 18.49% (Fixed) 2.25% (min. Rs.1149) One time fee Rs.20 lakh (Max) 1-5 Years
    Citibank 10.99% to 19.99% p.a. Up to 2.5% of the loan amount Up to Rs.30 lakh 1 to 5 Years
    Kotak Mahindra Bank 11.49% - 20.15% (Fixed) Up to 2% Rs.15 lakh (Max) 1-5 years
    Fullerton India 11.99% to 23.99 p.a. Information not provided. Up to Rs.20 lakh for salaried and up to Rs.30 lakh for self-employed individuals 1 to 4 Years
    Bank of Baroda 11.35% - 14.35% (Fixed) Rs.1,000 to Rs.10,000 (One time fee) Rs.20,000 - Rs.2 lakh 4 Years (Max)
    State Bank of India 12.90% - 14.90% (Fixed) 1% (One time fee) Rs.24,000 - 15 lakh 5 Years
    Aditya Birla 14% to 26% p.a. Nil Rs.25,000 to Rs.15 lakh 6 to 36 months
    Allahabad Bank Information not provided 1.06% of loan amount Information not provided. 1 to 5 Years
    Yes Bank 14% p.a. Up to 2% (One-time fee) Rs.2 lakh to Rs.20 lakh 1 to 5 Years

    Salary requirements to avail Personal Loans in Chandigarh

    When banks and NBFCs are verifying the application for a loan, one of the main aspects of the applicant’s details that they look into is the salary income of the individual. The salary income requirement varies between banks and NBFCs.

    For salaried individuals: The salary requirement to avail a personal loan generally ranges between Rs.7,500 and Rs.50,000.

    Self-employed individuals: To have their loan approved, self-employed individuals should show proof of income for the last two years. Generally, banks and NBFCs have a minimum income requirement between Rs.1 lakh and Rs.2 lakh (profit).

    Chandigarh Personal Loan FAQs

    1. What is the basic eligibility criteria when applying for a personal loan?

      Individuals applying for a personal loan should have a regular or stable income, should have a good credit score, and a balanced debt-to-income ratio.

    2. What is the usual tenure of a personal loan?

      Personal loans have tenures ranging between 1 and 5 years. 1 year being the minimum and 5 years being the maximum tenure of a loan.

    3. Can I avail a joint personal loan?

      Yes you can, provided that person is a close relative or a spouse. By doing so, the income will be much higher, giving you the opportunity to avail a bigger loan.

    4. Is choosing the lowest EMI the best option?

      Choosing a low EMI will result in the tenure being longer and the interest rate higher. Choosing a shorter tenure is always a better option though your debt-to-income ratio has to be taken into consideration.

    5. I have a debt-to-income ratio of 60%. Will my loan get approved?

      Chances are that your loan could be rejected. Having a debt-to-income ratio of 40% at max is ideal.

        

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    Chandigarh Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I hold my personal loan with HDFC bank for an while, the loan amount which they have given to me was good, they have been giving up to 2,50,000 which was sufficient, the rate of interest they have charged me up to 9% which was nominal, the processing fee they have given me up to 1400 was normal based on other bank they have charged me.
      Was this review helpful? 2
      , chandigarh
      Reviewed on Apr 22, 2019
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I wanted a personal and just then i landed on Bank Bazaar website the service which i experienced from Bank Bazaar was satisfying. The service given and the response time were quick enough. Happy with the service. Great place for great deals
      Was this review helpful? 0
      , chandigarh
      Reviewed on Apr 21, 2019
    • Kotak Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the KOTAK MAHINDRA bank. I got the loan with in few days. The application process and the documentation was easy and hassle free.The rate of interest is 14.49% and loan amount is 250000 . Overall it was a good loan experience.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Apr 21, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I know bank bazaar last two years through website and I have been using website to easy to access, but first time I visit bank bazaar, but I suggest one I am getting much call , and their customer service is good . and I am satisfied with bank bazaar,
      Was this review helpful? 0
      , chandigarh
      Reviewed on Apr 13, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I want to take personal loan from HDFC bank , but their very delay process whenever I need loan I didn;t got loan so I closed that loan and their customer service is provided is not good and response is also not good , I was not happy with that process,
      Was this review helpful? 0
      , chandigarh
      Reviewed on Apr 13, 2019
    • Oriental Bank of Commerce Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this Personal loan a pretty while back and the process in getting this loan was pretty simple. The loan amount has been sufficient and the interest rate which they had offered me was less when compared with the other banks. There was no charges made by them as well.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Mar 20, 2019
    • Bank Bazaar Personal Loan
      "Excellent & Easy to operate"
      0.5 5.0/5 "Blown Away!"
      I am happy with bankbazaar.com and also have referred this site to my husband. Overall my experience was satisfactory. I have been using the service for around 2 to 3 months. I came to know through online. I have used the mobile app and its easy to access.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Feb 28, 2019
    • Early Salary Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The customer service was really good with Early Salary. The process was very quick and whenever I gave a request and they have done it immediately. The rate of interest is nominal and processing fee is also less than other institution. The documents are submitted online.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Feb 28, 2019
    • SBI Personal Loan
      "Documentation should be simple"
      0.5 4.0/5 "Great!"
      SBI sanctioned Rs. 2.5 lakhs personal loan for the period of four years, I paid the whole emi and closed the loan. I got the noc letter from the bank, by taking the loan I felt the documentation was inconvenient, but for the settlement the process was smooth.
      Was this review helpful? 9
      , chandigarh
      Reviewed on Jan 25, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with KOTAK MAHINDRA BANK, the loan amount they have given me was not sufficient as i expected up to 5,00,000 and they have just gave me 2,50,000 only , they have charged me rate of interest nominal , and the processing fee they have charged me was nominal there was delay in getting loan , like i got loan with 25-30 days.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jan 21, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      The customer service and response was good. I am using the bank bazaar for around 2 years. I took the personal loan for the first time, previously use to do check the offers. I prefer website which is simple to access. There is no delay in the service.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jan 19, 2019
    • Early Salary Personal Loan
      "Average"
      0.5 5.0/5 "Blown Away!"
      The rate of interest and charges are high. I have taken 33K and they have deducted processing fee. The documents are submitted online. They took only 2 to 3 hours to process the loan and it was disbursed immediately. I have paid the first EMI and remaining 2 has to be paid.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jan 19, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I have applied for the personal loan in bank bazaar, the representative was very co-operative. probably am using it for 3 to 4months and have known it through online. Everything was fine and used the mobile app which was easy to compare and hassle free.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Jan 14, 2019
    • Early Salary Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I have no issues with the Early Salary and there is no need for me to contact their customer service. Only one thing is the rate of interest and charges are high compared to others. I have taken the loan of 20, 000 rupees. The documentation procedure was perfectly fine.
      Was this review helpful? 2
      , chandigarh
      Reviewed on Jan 14, 2019
    • review Personal Loan
      "Easy to get a loan"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from DMI and i got the loan loan on time. I have purchased the loan amount of Rs. 50000 which i took by last month. The interest rate is approximately 15% and the processing fee was 500Rs. Total tenure period of the loan is 12 months.
      Was this review helpful? 2
      , chandigarh
      Reviewed on Jan 08, 2019
    • Bajaj Finserv Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      Without any paper works my personal loan got sanctioned, I approached them based on my previous experience. I have taken some durable loans. The interest rate for personal loan is moderate and they sanctioned the loan with in 24 hours, they have part and preclosure options.
      Was this review helpful? 7
      , chandigarh
      Reviewed on Dec 18, 2018
    • Bank Bazaar Personal Loan
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is good and there are no hassles in the process. They been on time to give me the details. There were follow up calls too. The website is good and it is easy to use and understand. The customer support and response is satisfactory overall.
      Was this review helpful? 2
      , chandigarh
      Reviewed on Dec 13, 2018
    • IndusInd Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I bank with Indusind Bank for the personal loan. It was a smooth process and I received the loan around eight days. I had request for five lakhs and after which I chose a loan of 4.25 Lakhs due to the emi duration. The interest rate is of 12% and the processing fee is zero.
      Was this review helpful? 3
      , chandigarh
      Reviewed on Dec 13, 2018
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The overall experience at Bankbazaar is fine and the customer support and response is good too. They were on time to contact me and inform me the details. There were follow up calls as well. The website is good and it is easy to use and understand.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Dec 11, 2018
    • Early Salary Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan from Early salary. It was a good experience and it was a on time process too. The documents was taken on time and there has been no hassles. The customer support and response is fine. The rate of interest and processing charges is normal too.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Dec 11, 2018
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