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  • Chandigarh Personal Loan

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  • 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 17 Chandigarh Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.75% - 21.45% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
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    Fees & Charges
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    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
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    Fees & Charges
    Eligibility Criteria
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
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    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
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    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
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    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    Perks
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    Customer Reviews
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
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    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 21 Oct 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.

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

        

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    Chandigarh Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Average Service"
      0.5 1.0/5 "Really Bad"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since there was no callback and proper follow up from bank end .I have submitted documents and there was no documents submitted and the agent gave all the information .The service was quite average according to my experience.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 21, 2019
    • YES Bank
      HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan from HDFC Bank. I have not received any call from the bank's end. They asked me to upload the documents online, I uploaded all the documents after that there is no response from them. They did not do verification. Rate of interest was nominal.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Sep 21, 2019
    • HDFC Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had applied for HDFC Bank personal loan where my loan application was been closed due to HDFC Bank was asking me more documents so due this I had planned to drop the application and I had applied with other bank with nominal rate of interest.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 20, 2019
    • HDFC Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .I have uploaded the documents and there was proper follow up from bank end .I am not aware about the reason since not taken this loan .There was no difficulties faced by myself when applied for this loan .I am really satisfied with the service .
      Was this review helpful? 3
      , chandigarh
      Reviewed on Sep 10, 2019
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since the rate of interest and the processing fee was very high .I have not submitted any of my documents.There was proper response and callback from bank end.The process was really smooth and good as well.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 04, 2019
    • Bajaj Finserv Personal Loan
      "Process charges should be avoided"
      0.5 4.5/5 "Excellent!"
      I have one personal loan with Bajaj Finserv, they offered the interest around 13%its nominal for the loan amount of Rs.2.75 lakhs for the duration of four years. They taken some processing fee around Rs.7000 from the total amount. They should avoid such fee for the loan process.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Aug 26, 2019
    • ICICI Bank Personal Loan
      "Easy to get"
      0.5 5.0/5 "Blown Away!"
      The personal loan was taken from ICICI because the process is convenient for me. I bought the loan amount of Rs. 5 lakhs and the interest rate is 11.25% and they charged me a processing fee of 1%. I was paying the EMI of Rs. 14000 for the tenure period of 4 years.
      Was this review helpful? 2
      , chandigarh
      Reviewed on Aug 17, 2019
    • IndusInd Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have indusind bank personal loan 2.25 lakhs , Tenure 5 years , Rate of interested 12.5 percentage one time processing fee its will be waiver off, Customer service is excellent.while documents submitted through executive he give clear information about loan process.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Aug 16, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have selected HDFC personal loan amount Rs 90,000 thousand , Tenure 2 years ,Rate of interested is normal .while Document submitted through on line .There is delay while disbursal loan amount , Customer service is good and responsive. one time processing fee detected from principal amount.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Aug 13, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Home Credit India Finance Pvt Ltd personal loan through Online .I have got all the details about the loan process through the agent .The rate of interest and the processing fee was very high since had requirement taken this loan .There was no difficulties faced so far on submitting the documents .
      Was this review helpful? 0
      , chandigarh
      Reviewed on Aug 09, 2019
    • Citibank Personal Loan
      "Response and follow up need improvement"
      0.5 2.0/5 "Expected more"
      I have submitted the papers to the HDFC bank end but there was no response they kept on hold and also they didn't inform status of rejecting the application. They need to concentrate on the response and also the loan follow up should be stronger and prompt.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Aug 08, 2019
    • Kotak Personal Loan
      "Good Loan"
      0.5 3.5/5 "Pretty good"
      No particular reason for choosing my personal loan from Kotak mahindra bank. They have offered me a interest rate of 15% which is fine for me. They have charged me a processing fee of Rs. 4500 for the loan amount of Rs. 1.5 lakhs. They have sanctioned the loan in 10 days. They do have a partial payment and pre-closure facility.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Aug 07, 2019
    • Axis Bank Personal Loan
      "In all no hassles"
      0.5 5.0/5 "Blown Away!"
      Axis Bank has offered me a personal loan. The customer support is good. The rate of interest was of 14% and the processing fee was also taken. There was a documentation process which is mandatory. The loan was provided on time and the after loan service is good too.
      Was this review helpful? 4
      , chandigarh
      Reviewed on Jul 26, 2019
    • HDFC Bank Personal Loan
      "Don't avail the loan with HDFC"
      0.5 2.0/5 "Expected more"
      Taken my personal loan from HDFC. As compared to other banks, HDFC interest rate is high and they charged me a too much of processing fee. I applied the loan amount of Rs. 15 lakhs which i took long time before. They provided me a interest rate of 15%.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Jul 26, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the KOTAK MAHINDRA bank the process Smooth I got the loan amount with in few days it took some time to receive . . The whole application process was easy and hassle free. I never faced any issues during the application. The tenure period is fine .
      Was this review helpful? 2
      , chandigarh
      Reviewed on Jul 10, 2019
    • Citibank Personal Loan
      "Worst services "
      0.5 1.0/5 "Really Bad"
      I had a bad experience with the CITI bank. Once the documents is collected after that there is no intimation regarding the refusal. After done the verification also its okay. I have applied the loan amount as per my requirements. The provided interest rate is nominal and there is no processing fee.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Jul 04, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I applied for a personal loan from HDFC Bank to buy a house. HDFC bank rate of interest is high. Loan amount is also less. I was looking for 5 lakh. They closed my application because I do not have salary slip and HDFC bank savings account. It is time consuming process. Their customer service is good.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Jul 02, 2019
    • HDFC Bank Personal Loan
      "Unnecessary charges should be avoided"
      0.5 3.0/5 "Satisfactory"
      I took personal loan from HDFC but the experience is very unhappy, I thought its a zero processing fee it was mentioned in online channel. At last the bank charged me the processing fee without any negotiation. I applied for Rs.2 lakhs but they gave me only Rs.1.5 lakh in that they taken Rs.5000 processing fee with gst. The bank should give complete information before loan disbursement.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jun 21, 2019
    • HDFC Bank Personal Loan
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      I have taken the personal loan with HOME CREDIT INDIA FINANCE PRIVATE LTD and using from last 3 years the loan amount given was 75K, the rate of interest was 30% which was very higher than others. The documentation process was simple also quick process added on that there was a processing fee of 750 rupees. There is a pre closer option is applicable without charges.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jun 16, 2019
    • Citibank Personal Loan
      "Best Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Citi Bank Personal Loan through Online .I have not taken the loan since rate of interest and processing fee was high hence cancelled the plan of taking the loan,The agent gave all information about the loan process .I have not submitted the documents so far .
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jun 07, 2019
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