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  • Gurgaon Personal Loan

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  • A technology and finance-centric city, Gurgaon or Gurugram as it is also called, has a plethora of banks and financial institutions that offer personal loans at attractive interest rates. With interest rates starting from just 10.99% and repayment tenures extending up to 5 years, availing a personal loan in Gurgaon is extremely simple thanks to simple documentation procedures and easy eligibility criteria.
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    We found 17 Gurgaon 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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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Customer Reviews
    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
    What you'll love
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    Perks
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    Fees & Charges
    Eligibility Criteria
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Fees & Charges
    Eligibility Criteria
    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Fees & Charges
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    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
    What you'll love
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Fees & Charges
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    Gurugram is a financial and technology city, which is located very close to the national capital of India. It used to be known as Gurgaon. The city is officially now known as Gurugram. The city is now famous for its innovative office spaces, shopping malls, apartments, etc.

    If you are looking for a personal loan in this city, you can apply for one from a bank or a non-banking financial company (NBFC). You may apply for a loan as per your requirement by comparing rates of interest, processing fee, and other charges.

    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 24 Oct 2019

    Gurgaon Personal Loan Details
    Interest Rate (Monthly reducing balance) 10.99% to 24% p.a.
    Processing Fees Up to 2.5% of the loan amount
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loans offered by Various Lenders in Gurugram

    A few of the top lenders that offer personal loans in the city of Gurugram include:

    • Punjab National Bank
    • Fullerton India
    • ING Vysya Bank
    • Standard Chartered Bank
    • Bank of Punjab
    • UCO Bank
    • IndusInd Bank
    • Kotak Mahindra Bank
    • Oriental Bank of Commerce
    • State Bank of India (SBI)
    • Bank of Maharashtra
    • The Bank of Rajasthan
    • Indian Overseas Bank
    • Dena Bank
    • Corporation Bank
    • Deutsche Bank
    • Tata Capital
    • Citibank
    • Andhra Bank
    • IDBI Bank
    • Aditya Birla
    • Vijaya Bank
    • ICICI Bank
    • Axis Bank
    • HDFC Bank
    • Syndicate 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 2018

    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.

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

        

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    Gurgaon Personal Loan Reviews

    • IndusInd Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have Indusind Bank Personal loan through Online .I have not availed this loan since the process was too lenghty and uploaded documents and told to submit the documents again that was the difficulty.There was no issues with the rate of interest and the processing fee .The service was average according to me .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I applied personal loan from HDFC Bank. After the application was submitted I have not got any update from HDFC Bank. I have no idea why they closed my application. I have not been informed. They were looking for 3 months salary slip but I had only 2 months slip. Their rate of interest is nominal.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 14, 2019
    • IndusInd Bank Personal Loan
      "Interest rates are very good"
      0.5 5.0/5 "Blown Away!"
      Interest rate was very good so i opted the personal loan from Indusind bank. They offered me a interest rate of 18% is convenient for me. I have been paying the EMI amount of Rs. 6300 for the duration of 12 months. I had taken the loan amount of Rs. 70000. They do have partial payment and pre-closure facility.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 11, 2019
    • IndusInd Bank Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      Its easy and convenient way of getting the loan. I had applied the loan amount of Rs. 50K and i received the same amount. The provided interest rate was slightly higher than nominal because it was 30%. There is no processing fee deducted. They have sanctioned the loan without any delay.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 11, 2019
    • IndusInd Bank Personal Loan
      "Service is Good"
      0.5 4.0/5 "Great!"
      I have applied for personal through Home Credit India Finance Private Limited online.I have got this loan sanctioned on time ,The rate of interest and the processing fee was very high since had requirement at that time i have taken this loan .I have got all the relevant details about the loan process through the agent .I had an issues with KYC upate once applied for this loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 10, 2019
    • Axis Bank Personal Loan
      "Easy to manage"
      0.5 4.0/5 "Great!"
      My Axis loan was taken before ages. I have a banking relationship with Axis bank so i took from them. They charged me a interest rate which was very bad because the percentage was 15.49%. Being a banking customer, they must considerate the interest rate part. They can improve the loan application process and disbursement, status update as well.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 10, 2019
    • PaySense Personal Loan
      "Easy and convenient process"
      0.5 5.0/5 "Blown Away!"
      Paysense is the only option was available for my personal loan eligibility. I like the process and its convenient for me. Its easy to follow and the update was there. It was a paperless approval as well. They disbursed the loan in 1 week. The interest rate was also very much reasonable.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 10, 2019
    • HDFC Bank Personal Loan
      "Bad services"
      0.5 1.0/5 "Really Bad"
      No response from HDFC executive. I had applied the personal loan from HDFC. They have collected all my documents also after there is no proper follow up from them. When i contact the customer care service through phone banking, they asked me to contact the area manager and the documentation executive. Overall, I'm not satisfied with the HDFC Services.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Oct 01, 2019
    • Kotak Personal Loan
      "Great"
      0.5 4.5/5 "Excellent!"
      My experience was really nice with Kotak Mahindra Bank. Their rate of interest was really good in the market and they could work on the processing fee alone. I have taken the personal loan for last 5 years. There was an option for preclosure with some charges and no partial payment.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Sep 26, 2019
    • Citibank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Citi Bank personal loan through online .I have not availed this loan since no requirement and the particular work was done so dropped the plan .The rate of interest and the processing fee was not an issue.I have got all the relevant details about the loan process.I have not submitted any documents when applied for this loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 25, 2019
    • Axis Bank Personal Loan
      "Need to think from customer point of view"
      0.5 2.5/5 "Just OK"
      Long time back in the month of 2015, there was a personal loan with Axis Bank. My experience was not at all satisfactory. The services were okay but they have been charging lot & lot for 1EMI bounce. I have paid 7 or 8months after seeing the charges and I have decided to do foreclosure.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Sep 18, 2019
    • HDFC Bank Personal Loan
      "Need quicker call"
      0.5 3.0/5 "Satisfactory"
      The bank called me after 7days which they would called me before I would have processed with HDFC BANK for a personal loan through online itself. Ultimately I went to the HDFC bank directly and got my loan. Once they have called me and the customer service is good. The interest rate is same as other banks.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 18, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Home credit India Finance Private Limited through Online .I have not taken this loan since got the loan from some other source.The rate of interest and the processing fee was high .I have uploaded the documents as well .I have got proper callback and response from Home credit .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 13, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .I have got all the required information about the loan process.I have not taken this loan since got the amount from some other source .I am not having any issues with rate of interest and the processing fee.I have not submitted any documents .
      Was this review helpful? 2
      , gurgaon
      Reviewed on Sep 11, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I was applied for a personal loan with HDFC bank on a month before which was applied through an online. Once I have applied for a loan I received a call on time for the amount of 5 lakhs for duration of 1 year. The rate of interest was nominal. Process was closed from bank end.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Sep 10, 2019
    • Citibank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I was applied for a personal loan with CITI bank on a month before which was processed through an online. I received a call on time from bank for further verification. The amount was okay for the tenure period of 3- 5 years. By myself closed the loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 10, 2019
    • IndusInd Bank Personal Loan
      "Average Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Indusind Bank personal loan through Online.The process was too long and not taken the loan and the rate of interest and the processing fee was not given by the agent.There was proper follow up and got callback also from Bank end as well .According to me the service was average.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 10, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan which was applied through Bank .The rate of interest and the processing fee was very less.The loan amount was sanctioned on time and it was sufficient as well.I have got all the details about the loan process through the agent .Still this loan is active i have closed 35% of the loan so far .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 09, 2019
    • Citibank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Citi Bank personal loan through Online .I have not taken this loan since bank end it was closed .I have got all the relevant details about the loan process .I have uploaded documents .There was no follow up and callback from bank end .I have not faced any drawbacks when applied for this loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 09, 2019
    • Citibank Personal Loan
      "People can avail it if you have every documents"
      0.5 3.0/5 "Satisfactory"
      I don't have any opportunity to get a local proof since i'm living in PG and if banks are providing loan for those people also by considering the permanent address and providing the loan, it would be fine. Because in my case, based on the above my loan got rejected. Interest rate was fine. Its average process.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Sep 08, 2019
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