• Faridabad Personal Loan

    The largest city in Haryana, Faridabad has several banks offering personal loans and other financial products at competitive terms and conditions. With some of the top banks in the country located in the city, residents of Faridabad can compare various lenders to find the personal loan that best suits their financial requirements. Interest rates start from just 10.99% and repayment tenures extend up to five years.
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    We found 18 Faridabad Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.50% One time fee
    Up to Rs.40L
    1 - 5 Years
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    11.00% - 16.75% Fixed
    Zero Processing Fee
    Up to Rs.25L
    1 - 5 Years
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    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
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    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
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    17.00% - 26.00% Fixed
    2.00% One time fee
    Rs.2L - Rs.20L
    0.5 - 4 Years
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    Faridabad is the largest city in the north Indian state of Haryana, in Faridabad district. The district shares its boundaries with the National Capital and Union Territory of Delhi.Various big companies have established their headquarters here. There are some IT Companies established their database centres here. Faridabad is a massive economic engine of Haryana. Faridabad generates over 50% of the income tax for the Haryana government.

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.

    Documentation needed to apply for an Faridabad 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

    Faridabad Personal Loan Interest RatesUpdated on 26 Oct 2020

    Faridabad 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 in Faridabad

    Faridabad is a leading industrial centre in Haryana. The city has a number of leading banks and NBFCs that offer personal loans to customers in Faridabad that can you meet your needs. Personal loans are offered at affordable rates with interest rates varying from one lender to another. Banks and NBFCs that operate out of Faridabad have a large number of financial products and these banking institutions offer other services such as asset management, alternate forms of commercial lending, core banking facilities, and investment advice.

    Personal Loans offered by various banks in Faridabad

    Some of the prominent financial institutions that are located in Faridabad that offer personal loans at attractive interest rates are listed below:

    • Citibank
    • IndusInd Bank
    • ICICI Bank
    • Standard Chartered
    • Kotak Business Loan
    • Oriental Bank
    • Capital First
    • Kotak Mahindra
    • HDFC Bank

    How to Get a Personal Loan with the Lowest Interest Rate in Faridabad

    If you want to apply for a personal loan in Faridabad, there are a few factors which you have to keep in mind. These can play a vital role in securing your loan. You will have to make sure that the information provided to the bank in regard to your loan application letter proves your creditworthiness to receive the loan. A good credit score is a key factor and this plays a vital role when applying for a loan. A credit score of 750 and above is considered as a good credit score to have and this plays a big role in getting your application for a personal loan approved. The interest rate that is levied on a personal loan also depends on this criteria. A credit score that is higher than the benchmark that has been set by banks and lenders will fetch a lower interest rate for your loan and vice-versa. If you have a bad credit score, you should do what you can to improve it. This can be done through a number of different ways. Paying off any unpaid premiums or loans is a good way to increase your score.

    You, as a borrower, should conduct your own research and make sure that you apply for a loan amount that covers your financial needs and requirements. If you have a clear perspective on the loan amount that you would require, you can avoid paying extra that goes towards the interest on a loan. But, you should also make sure that you do not opt for a loan amount that does not meet your financial needs. In such cases, you will be forced into applying for another loan which can prove to be quite a hassle. You could end up missing out on a payment which would lead to a drastic drop in your credit score and damage your creditworthiness.

    Personal Loan Interest Rates in Faridabad

    There are a number of major public and private sector banking institutions that offer personal loans to the residents of Faridabad. Listed below are some of the banks in Faridabad and their interest rates:

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    Citibank 1% to 2.5% 11.49%-15.99% (Fixed) Rs.30 lakhs 1-5 years
    Capital First Up to 1.5% (OTF*) 12%-18% (Fixed) Rs.15 lakhs 1-5 years
    Standard Chartered Nil 10.99%-14.49% Rs.30 lakhs 1-5 years
    IndusInd Bank Up to Rs.3,000 (OTF) 11.99%-19% (Fixed) Rs.25 lakhs 1-5 years
    TATA Capital Nil 11.99%-19.50% Rs.20 lakhs 1-6 years
    ICICI Bank 2.25% (Min. Rs.1,149) 11%-17.99% Rs.20 lakhs 1-5 years
    Oriental Bank 0.5% (OTF) 10.85%-11.85% Rs.50,000-Rs.10 lakhs 1-5 years
    South Indian Bank 0.50% (OTF) 13% (Fixed) Rs.3 lakhs 1-4 years
    Fullerton 1.5% to 6% (OTF) 17.25% to 37% (Fixed) Rs.15 lakhs 1-4 years
    Kotak Business Loan 0.99% to 2% 12.99%-14.50% Rs.45 lakhs 1-5 years
    HDBFS Business Loan 2% (OTF) 15.95%-18.95% (Fixed) Rs.20 lakhs 1-3 years
    HDFC Bank Up to 2.5% (OTF) 10.99%-19.8% (Fixed) Rs.25 lakhs 1-5 years
    Allahabad Bank 1.22% (Min. Rs.1,228) 13.10% (Fixed) Rs.50,000 to Rs.7.5 lakhs 1-5 years
    Tamilnad Mercantile 1% (OTF) 14.30%-16.30% (Floating) Rs.2 lakhs Max. 1-5 years
    Bank of India Rs.1,000 to Rs.10,000 (GST not included) 13%-14% (Fixed) Rs.10,000-Rs.5 lakhs 1-3 years
    Dena Bank 1% (OTF) 13%-14% (Fixed) Rs.15,000 to Rs.1 lakh 1-3 years
    Kotak Mahindra Up to 2% 11.49% - 20.15%Fixed Rs.15 lakhs 1-5 years
    Bank of Baroda 1% (Min. Rs.1,000) OTF 11.35%-14.35% (Fixed) Rs.20,000 to Rs.2 lakhs 4 years
    BOM 1% (Min. Rs.1,000) 12.75% (Fixed) Rs.1.5 lakhs 1-3 years
    Karur Vysya 0.4% (OTF) 13.35%-15.85% Rs.1 crore Max. 1-3 years
    UCO Bank 1% (Min. Rs.750) OTF 11.35%-11.60% (Fixed) Rs.10 lakhs 5 years
    IDBI Bank 1%+S.T. (OTF) 12.20% (Floating) Rs.50,000 to Rs.10 lakhs 1-5 years
    Yes Bank Up to 2% (OTF) 14% (Fixed) Rs.20 lakhs 1-5 years
    Central Bank Rs.500 (OTF) 11.4% (Floating) Rs.10 lakhs 4 years
    Aditya Birla Nil 11.5%-13.25% (Fixed) Rs.30 lakhs 1-5 years
    Canara Bank Rs.1,000 to Rs.5,000 (OTF) 12.75% (Floating) Rs.3 lakhs 5 years
    Indian Bank Rs.508 to 0.508% (OTF) 12.65% to 13.65% (Floating) Rs.50,000 Max. 3 years
    IOB 1.01% to 1.10% (OTF) 13.65% (Fixed) Rs.1 lakhs to Rs.15 lakhs 1-5 years
    HDBFS 1%-2% (OTF) 13.99%-16.99% Rs.30 lakhs 1-5 years
    SBI 1% (OTF) 12.90%-14.90% Rs.24,000 to Rs.15 lakhs 5 years
    Vijaya Bank Nil 13.50% (Fixed) Rs.10 lakhs 1-5 years
    Union Bank 0.5% (Min. Rs.500) OTF 14.4% (Floating) Rs.5 lakhs Max. 1-5 years

    *OTF – One Time Fee

    Salary Requirements to Avail Personal Loans in Faridabad

    There are a few factors that a banking institution has to consider when they receive a loan application. One criteria that they look for is your capability to repay the loan amount that you have borrowed. The salary requirements needed to repay a loan amount has been listed below:

    • Should be a resident of the city of Faridabad for a minimum of 1 year.
    • The applicant should have a minimum work experience of 2 years.
    • A salaried individual should earn a minimum monthly income of Rs.15,000. The minimum monthly income requirement will vary from one lender to another.
    • The applicant should not be younger than 21 years.
    • The applicant should not be older than 60 years.

    Faridabad Personal Loan FAQs

    1. How long does a bank take to approve an application for a personal loan?
    2. There are some banks that approve loan applications within 48 hours and there are other banks that take at least a week. Usually a loan application is approved within two and seven working days.

    3. How is a personal loan repaid?
    4. The personal loan can be repaid my paying the loan amount back to the bank in the form of Equated Monthly Instalments (EMIs) via post-dated cheques. You could even link your debit account to your loan if you have taken a loan from a bank where you have a savings bank account. The amount that you need to pay as EMI will automatically get deducted from your savings account.

    5. Will I require a guarantor when applying for a personal loan in Faridabad?
    6. You do not require a guarantor when applying for a personal loan.

    7. Are there any additional charges that an applicant has to pay when he/she gets a personal loan from a bank?
    8. Yes, there are a couple of different additional charges. Most banks charge an applicant an interest fee that ranges from 2% to 2.5% of the total amount that they wish to borrow. The fee is deducted from the amount that has to be disbursed to you.

    9. What are the documents that I have to submit when applying for a personal loan?
    10. If you are a self-employed individual, you will be required to provide information such as a balance sheet along with a profit and loss account which is audited or that has been CA certified for the past 3 years.

        

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    Faridabad Personal Loan Reviews

    • IndusInd Bank Personal Loan
      "Need to decrease rate of interest "
      0.5 5.0/5 "Blown Away!"
      I have applied a personal loan from INDUSIND through online. The loan amount was better for my requirement so chosen this bank with tenure period of 3 years. The process was good. Only the drawback was rate of interest is high. Due to that reason I closed the loan process from my end.
      Was this review helpful? 2
      , faridabad
      Reviewed on Mar 17, 2020
    • Magma
      IndusInd Bank Personal Loan
      "Best service "
      0.5 5.0/5 "Blown Away!"
      From HOME CREDIT, i have taken a personal loan 3 years back and it got closed. The rate of interest was nominal, the emi paid around Rs. 3k and the loan amount was Rs. 70,000. I got this loan offer through online and every thing was done very smooth.
      Was this review helpful? 10
      , faridabad
      Reviewed on Mar 02, 2020
    • RBL Bank Personal Loan
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      RBL Bank offered a personal loan, the loan amount was Rs. 1.50L. The rate of interest was higher13% and i opted for the tenure period of 3 years. EMI of Rs.7000, i am paying every month and that not sure about pre closure charges . Customer service was quite good.
      Was this review helpful? 3
      , faridabad
      Reviewed on Mar 02, 2020
    • HDFC Bank Personal Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have applied HDFC Bank personal loan through online. Later I met with an accident so couldn't submit my documents to the bank people on time. Even I haven't received any call from the bank and there was no followup too. I wish them to provide good support.
      Was this review helpful? 2
      , faridabad
      Reviewed on Feb 19, 2020
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      My requirement was over hence not availed HDFC bank personal loan.I was not having any issues with rate of interest and the processing fee.I have submitted documents and there was proper callback as well as follow up .other than that there was no issues faced .According tomy experience the service was average.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 18, 2020
    • ICICI Bank Personal Loan
      "Best Sevice"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from ICICI through online and this loan was taken for my child education .The rate of interest and the processing fee was too high since urgency i have availed this loan at that time.The loan process was clearly shared by the agent .The documents was uploaded through online as well as submitted through agent.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 14, 2020
    • Incred Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from INCRED through an online. The rate of interest and processing fee are high but it was not an issue for me .This loan was sanctioned on delay basis it took 20 days and got the reason verification purpose it took much time .I am almost convenient with the service .
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 14, 2020
    • Incred Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken personal loan through home credit India finance private limited online.The rate of interest and the processing fee was high it is 28% that is the only difficulty other than the everything was good ,The loan amount got sanctioned on time without any delay.The agent shared all the details about the loan process .Everything was good until the loan got sanctioned .
      Was this review helpful? 0
      , faridabad
      Reviewed on Jan 21, 2020
    • Shubh Loans Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken personal loan through Shubh loan .The loan process was pretty good ,The complete process of this loan was clearly shared by the agent .This loan was sanctioned on time ,There was callback as well as follow up was there .I have submitted the documents through the agent.Second EMI was not deducted from my account so far.
      Was this review helpful? 2
      , faridabad
      Reviewed on Jan 14, 2020
    • HDFC Bank Personal Loan
      "Best service"
      0.5 1.0/5 "Really Bad"
      I have applied for HDFC Bank personal loan and availed this loan through Online .This loan was sanctioned on delay basis ,I have paid extra charges to get the offers.The rate of interest and the processing fee was high .The agent shared all the required details about the loan process. Bank end also got the updates about this loan .
      Was this review helpful? 0
      , faridabad
      Reviewed on Jan 12, 2020
    • Incred Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Incred personal loan through Online .I have not taken since requirement was over and planned to avail this loan later .The rate of interest and the processing fee was high ,Each and every details about the loan process was clearly shared by the agent .There was proper callback and response, hence I have contacted Incred for the loan again but no response from there end .
      Was this review helpful? 0
      , faridabad
      Reviewed on Jan 03, 2020
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 2.0/5 "Expected more"
      I have applied for HDFC Bank personal loan through Online .I have not taken this loan since not processed from bank end .I was not having any issues with the rate of interest and the processing fee .There was no callback from bank end and there was no difficulties faced so far .
      Was this review helpful? 1
      , faridabad
      Reviewed on Dec 31, 2019
    • Incred Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have availed Incred personal loan directly last month .The rate of interest was very high.I have got the loan amount on time without any difficulties.There was proper response and acknowledgement from incred when applied for this loan.The service was average according to me .
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 13, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through HDFC Bank directly.The rate of interest was acceptable it was 11% .Without any delay got this loan and the agent shared all the details about the loan process .I have not faced any drawbacks while submitting the documents.I have taken this loan last year and i will be closing the loan within 4years.
      Was this review helpful? 2
      , faridabad
      Reviewed on Nov 13, 2019
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 1.0/5 "Really Bad"
      I have applied for Home credit India private limited personal loan through online .The rate of interest was very high since requirement was there taken this loan .I have got the loan amount sanctioned on time .If EMI is paid on delay basis charges will be applicable.
      Was this review helpful? 1
      , faridabad
      Reviewed on Nov 10, 2019
    • Canara Bank Personal Loan
      "Good Service"
      0.5 2.0/5 "Expected more"
      I have availed personal loan directly through Canara Bank.The rate of interest was high since requirement was there i have taken this loan.I have got this loan amount on time without any drawbacks .I have got all the relevant details about the loan process very clearly through the agent .I am really satisfied with the service so far .
      Was this review helpful? 4
      , faridabad
      Reviewed on Oct 22, 2019
    • Fullerton Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      I have applied for Fullerton Personal loan which was applied through Online .I have not availed this loan since got the amount from some other source due to this not availed this loan.I have got a clear picture about the loan process through the agent .The rate of interest and the processing fee was very high .
      Was this review helpful? 2
      , faridabad
      Reviewed on Oct 22, 2019
    • review Personal Loan
      "Easy to get the loan"
      0.5 4.0/5 "Great!"
      Taken my Bajaj Finance personal loan 1 year ago. They have offered me a interest rate of 14% and the loan amount was Rs. 2.25 lakhs. I have pre-closed the loan for that they charged me 4% from the outstanding amount. They have sanctioned the loan within a week. Documentation process was done through online.
      Was this review helpful? 1
      , faridabad
      Reviewed on Oct 21, 2019
    • Fullerton Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had applied personal loan from Fullerton online. They called me once and told me that they would send a link to upload my documents but I have not received any link. They did not inform me rate of interest and processing fee also not confirmed.
      Was this review helpful? 0
      , faridabad
      Reviewed on Oct 16, 2019
    • Fullerton Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I applied personal loan from Fullerton. My requirement was for one lakh. Their rate of interest is nominal. I had submitted my documents on time but I have not got any response from Fullerton. I am not very happy with their services. They should at least give me an update.
      Was this review helpful? 0
      , faridabad
      Reviewed on Oct 14, 2019
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