Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 32 Gurgaon Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Ad Paperless approval available
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    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Paperless approval available
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    Customer Reviews
    13.99% - 16.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
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    10.99% - 17.99% Fixed
    2.25% (min. ₹1,499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
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    Perks
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    Customer Reviews
    13.49% - 19.99% Fixed
    Up to 2%
    Upto 25L
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
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    Eligibility Criteria
    10.65% - 11.65% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time : Within 30 minutes
    Guarantor Required Paperless approval available
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    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
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    Eligibility Criteria
    10.99% - 15.99% Fixed
    Up to 0.5%
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 17.99% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 19% Fixed
    Up to 3% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
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    Perks
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  • Gurgaon Personal Loan is Rated as "Great!" by 1414 Users

    Fees & Charges

    Promised Interest Rate

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    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Gurgaon Personal Loan

    Gurgaon is a city in India and is a leading financial and industrial center, situated in the National Capital Region near the Indian capital New Delhi in the state of Haryana.Gurgaon has witnessed rapid urbanization, chiefly as a result of multinational corporations opening outsourcing offices in the city.Gurgaon has the third highest per capita income in India.

    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.


    You’re probably eligible for an Gurgaon Personal Loan if you are

    01
    02
    03
    04
    Gurgaon Personal Loan Minimum Age

    At least 21 years old

    Gurgaon Personal Loan Maximum Age

    Less than 65 years old

    Gurgaon Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Gurgaon Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Gurgaon Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Gurgaon Personal Loan Minimum Salary

    Minimum income required
    Rs.17,500 per month

    Gurgaon Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 50K to Rs. 30 lakhs

    Gurgaon Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Gurgaon Personal Loan amount by these steps

    01
    02
    Gurgaon Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Gurgaon

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Gurgaon 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

    Gurgaon Personal Loan Interest RatesUpdated on 19 Oct 2017

    Gurgaon 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 Loan in Gurgaon

    A personal loan is a form of unsecured loan availed by individuals for their personal needs from a banking institution or a non-banking financial company (NBFC). It is offered to customers on the basis of some specific criteria, such as income level, employment history, credit score, and repayment capacity.

    A personal loan differs from a car or home loan as it is not a debt that is secured against any asset. Effectively, the borrower does not put up a collateral to avail it. So, in the event of a default, the lender cannot auction anything to retrieve the loan amount. Hence, the interest rates on personal loans are significantly higher than the rates on car or home loans.

    If a borrower defaults on a personal loan, it would clearly reflect in his/her credit report and would impact a loan application in the future.

    Personal Loans offered by various banks in Gurgaon

    Most of the leading banks and NBFCs have branches across Gurgaon. Customers can apply for personal loans and business loans at these banking institutions. In addition, these banks also offer core banking services, asset management, commercial lending, and investment advice. Listed below are some of the banks that offer personal loans in Gurgaon at attractive interest rates:

    • HDFC Bank
    • IndusInd Bank
    • Tata Capital
    • Citibank
    • Bajaj Finserv
    • RBL Bank
    • IDFC Bank
    • ICICI Bank

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

    People avail personal loans for various reasons, such as paying for home improvements, further education, household expenses, vehicle financing, etc. Getting the best interest rates on personal loans is hence, a great way to save money as you can cut the amount of interest paid towards EMIs over an extended period of time. Listed below are some ways in which you can get a low interest rate on your personal loan in Gurgaon and avoid a large debt:

    1. Display creditworthiness - You have to first understand why your credit score is crucial for availing a loan. Based on your debt history, your credit score will measure your creditworthiness, and hence, the repayment possibility. Having a low credit score indicates that you may not pay your loan back, and hence, it poses a risk to lenders. In such a scenario, the lender compensates the risk by charging a higher interest rate on the loan.

      Customers can check their credit scores online at the websites of any of the three credit reporting bureaus, TransUnion/CIBIL, Experian, and Equifax. It is possible to get your credit score for free. If your credit score is a high value, it shows your creditworthiness. A score of 700 is a good value.

    2. Improve your credit score - If your credit score is a low value, then you can consider improving it, but you will have to think about how long you can wait before availing the loan. If you can afford to wait for some months or even years, then it is wise to build a better credit before initiating the loan application.

      Those with low credit scores can negotiate with lenders or implement better spending habits to boost their credit score. You can also attempt to repair your credit history and remove the damaging entry on your credit report. In order to build a good credit report, you will have to consistently make your EMI payments in full and on time, for months or even years.

    3. Getting better terms on your loans - Some banks offer personal loans with better interest rates when an asset is secured under the debt as a collateral. So, if you have a valuable asset, such as an equity or a car, you can get a lower interest rate on your personal loan if you secure it with that asset. In such a situation, if you are unable to repay your loan, the lender can take possession of the asset as compensation. Loans with a collateral are also easier to get, particularly for those with bad credit.

      You can also consider taking a loan with a floating loan rate, where the interest rate increases with the prime lending rates. Alternatively, you can ask a family member or a friend to co-sign your loan. This way, you can avail a loan on their creditworthiness. Comparing rates of loans across various lenders is a great way to understand the best offers from banks. You can utilise the loan comparison facility offered by neutral third-party financial websites for the same.

    Personal Loan Interest Rates in Gurgaon 2017

    Bank Interest Rate Range Lowest EMI for each Rs.1 lakh Processing Fee Range
    HDFC Bank 10.99% to 20% Rs.2,174 Up to 2.50%. Minimum amount is Rs.1,000 and maximum amount is Rs.25,000
    IndusInd Bank 11.99% to 23% Rs.2,224 Up to 2.50%
    Tata Capital 11.99% to 18% Rs.2,224 2%
    Citibank 10.99% to 16.49% Rs.2,174 Up to 2%
    Bajaj Finserv 11.99% to 15.50% Rs.2,224 2.25% to 3%
    RBL Bank 16% to 20% Rs.2,432 Up to 1.25%
    IDFC Bank 11.49% to 19.50% Rs.2,199 Up to 2.50%
    ICICI Bank 11.59% to 22% Rs.2,204 Up to 2.25%

    Salary requirements to avail Personal Loans in Gurgaon

    For an applicant to be eligible for a personal loan in Gurgaon, he/she should be of an age between 21 and 60 years. Although the eligibility criteria varies according to the bank, the minimum income requirement is usually Rs.15,000 per month for salaried individuals. The salary requirement also varies according to the city in which you live and the company you are employed with. The minimum total work experience expected is 2 years.

    FAQs for Personal Loan in Gurgaon

    1. What documents need to be submitted when applying for a personal loan in Gurgaon?

      The applicant is required to submit the following documents to avail a personal loan in Gurgaon:

      • Three passport size photos
      • ID proof - This could be Aadhaar, Voter ID, Passport, etc.
      • Proof of residence - This could be the landline phone bill, rental agreement, Passport, bank statement, etc.
      • Copy of PAN Card
      • Age proof - This could be driver’s license, Passport, copy of PAN Card, etc.
      • Proof of income - Payslips for the last 3 months can be shown as proof of income
      • Bank statement - Bank statements for 6 months are usually required when applying for the loan
      • Proof of job stability and continued employment - This could be the Form 16 or offer letter from the employer
    2. What is the difference between fixed and floating interest rates?

      For a personal loan with fixed interest rate, the EMIs will be fixed. If you opt for a floating interest rate on your loan, the EMIs will decrease progressively, as it follows the reducing balance method of interest calculation. According to the latest MCLR rules, floating rates may be altered either on an annual or half-yearly basis.

    3. Is it possible to prepay my personal loan?

      Yes, most banks allow prepayment of personal loans. However, some banks require borrowers to pay a certain number of EMIs before the loan can be prepaid. Prepayment charges may also be levied by some banks on the outstanding loan amount.

    4. How long does it take for my loan to be approved?

      The approval of your personal loan is at the sole discretion of the lender. The whole process takes between 48 hours to 2 weeks. After you submit all the necessary documents and the verification is complete, the loan will be disbursed by the bank within 7 working days.

    5. Can I avail any tax benefits on my personal loan?

      Usually, personal loans do not offer any tax benefits. However, if you take one for the renovation of your home, you may be eligible for tax deductions under Section 24 of the Income Tax Act. This tax rebate is limited to only the interest, and not the entire principal amount.


    Gurgaon Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      I have also taken a personal loan from HDFC Bank and the process is good. The customer services are also nice as they contacted me and also processed my information quickly. The interest rate and processing charges is also normal and the after loan services are good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2017
    • Kotak Personal Loan
      "Average experience"
      0.5 3.0/5 "Satisfactory"
      Due to the bank norms Kotak Mahindra Bank could not proceed ahead for the personal loan. The team responded on time and informed me the details. It was a average experience as there are other banks who have offered me a loan and better services and rate.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2017
    • Bank Bazaar Personal Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      The services and response from Bankbazaar was on time and the process was quick in forwarding my details to the bank. It would be better if all the information like the status of the application or the reason of the application getting decline should be available at Bankbazaar also and the customer should not be asked to check with the bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2017
    • Bank Bazaar Personal Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I felt the services of Bankbazaar to be efficient. This was the first time I applied for a loan with this website, and the response was pretty quick and assertive. Also the website was quite easy to access, and provided me with the option that I was searching.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2017
    • Kotak Personal Loan
      "Loan got approved fastly"
      0.5 4.5/5 "Excellent!"
      My loan got disbursed pretty fastly and without much of a task. I required the loan pretty urgently, this Bank understood the need and fastracked the whole process. Only thing I found a little disappointed about was the Rate of Interest of 14.49%, wherein the running market rate is 13%.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "Hassle Free"
      0.5 5.0/5 "Blown Away!"
      I don't have any issues with ICICI, they gave me good service, I took the personal loan of ICICI for the principal amount of Rs. 4 lakhs it has the tenure of four years. I am quite fine with their interest rate and processing fee even EMI option is also good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 16, 2017
    • SBI Personal Loan
      "Good deal but need improvement on the services"
      0.5 2.5/5 "Just OK"
      I have taken a personal loan from State Bank of India. The experience was not up to the mark as the customer support was not very helpful. The processing charges was waived off as I am a corporate customer and the interest rate was reasonable when compared.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 15, 2017
    • Bank Bazaar Personal Loan
      "Good. Can be more clear in details"
      0.5 5.0/5 "Blown Away!"
      The process and services was good at Bankbazaar and the experience was also good. But it would have been better if the details of the bank is clearly coordinated and mentioned on the website and there should be no last minute surprises for the customer.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 13, 2017
    • Standard Chartered Bank Personal Loan
      "Good. Can be more transparent in details"
      0.5 5.0/5 "Blown Away!"
      The rate of interest was of 10.99% and the processing charges was zero at SCB for the personal loan. My first emi was charged extra for the whole of the month as the EMI was taken 15 days ahead. So I was charged 3K more on the interest which compensates for the processing fee which was supposed to be as zero. I would still give them a five stars because I have finally taken the loan. I have taken a loan amount of 10 lakhs so 3K is not a big deal for me. But I should be aware of it in the initial stage.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 13, 2017
    • Bank Bazaar Personal Loan
      "Best"
      0.5 4.5/5 "Excellent!"
      Bankbazaar.com was really good one and I have used it for a month of time and I used to check the credit score from them. I would like to say that the website of the Bankbazaar.com is easy to access and also the navigation part is so good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 13, 2017
    • ICICI Bank Personal Loan
      "Need to improve"
      0.5 3.5/5 "Pretty good"
      It took over a month of time to get the personal loan with the ICICI bank, which I had applied. Due to some documentation issues the process was delayed and nothing more than that. Rest of the things are working in a fine way with ICICI bank......
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 13, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      At the time of ICICI personal loan they offered 13% of interest it was higher before three years. I hope now a days, ICICI have reduced the interest rate as per the market standard. I am fine with the present offers, I am happy about their services too.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 12, 2017
    • Bank Bazaar Personal Loan
      "One stop solution"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar gave fast response to the customer and also they gave add on service its excellent. Bank Bazaar provides good online information and their mobile app is good I could view all the information like account summary, credit card details etc.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 12, 2017
    • HDFC Bank Personal Loan
      "Its Excellent"
      0.5 4.0/5 "Great!"
      HDFC had sanctioned my loan and disbursed the amount of Rs. 1 lakh for the tenure of two years. I am quite satisfied with HDFC but still they taken four to five days to collect the documents to complete the loan process, finally it was successful.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 12, 2017
    • Bank Bazaar Personal Loan
      "Easy to Help"
      0.5 4.0/5 "Great!"
      If any one required personal loan or any banking products I would suggest them to reach bankbazaar. As Bank Bazaar is the easy way or a short cut to reach the bank without any hassle. I am quite happy with their service, as it is perfect also their staff has supported me very well through out the process.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 12, 2017
    • Citibank Personal Loan
      "Interest rate should be reduced as per market"
      0.5 2.0/5 "Expected more"
      CITI bank interest rate was very high they offered me the rate around 13 to 15% on personal loan application. But YES bank is providing 11% of interest, because of that reason I am planning to process with Yes bank, it would be great if CITI have reduce the interest, many customer may avail their service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 12, 2017
    • Bank Bazaar Personal Loan
      "Not good"
      0.5 4.0/5 "Great!"
      I have taken my car loan via Bank bazaar. The customer service and responses was up to the mark. I have applied through their website and I have not faced any run time or down time error. My overall experience was very good with bankbazaar.....
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 11, 2017
    • Standard Chartered Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have applied for my personal loan with STANDARD CHARTER bank. The rate of interest was between 13-14% for 2 lakhs loan which was high comparing to other banks in the market so I have cancelled the application.. My overall experience was not good so I would not recommend to others.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 11, 2017
    • Bank Bazaar Personal Loan
      "Defined network of banks"
      0.5 4.0/5 "Great!"
      In short, I would say bankbazaar is a well defined site which has got the network of banks.The agents at bankbazaar gave regular follow ups and good customer service.I would like to make one suggestion if i apply for personal loan i will be assisted with a single executive till the end once i get finished with my application else i have to tell him the whole scenario once again.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 08, 2017
    • Standard Chartered Bank Personal Loan
      "Supportive and responsive"
      0.5 4.0/5 "Great!"
      There was some percentage of principle amount has to be paid when we preclosure the loan amount and with most of the bank the amount was too high.And more over i got a better deal from CITIBANK were there is 5 more EMI option available with in the years.So i choose CITI rather than STANDARD CHARTERED BANK.But the service wise it was really good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 08, 2017
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