Multiple banks. Different interest rates. Call it a "conflict of interest".
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    Gurgaon Personal Loan

    There are various public sector banks, private sector banks, and NBFCs that offer personal loans to residents of Gurgaon. To get a personal loan at a good interest, you can consider improving your creditworthiness or offering an asset as collateral.

    We found 33 Gurgaon Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Customer Reviews
    11.49% - 18.25% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    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
    Rs.750 Amazon Voucher
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 21.25% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11% - 16% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 18.15% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Perks
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    Eligibility Criteria
    12.00% - 17.00% Fixed
    1%
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Gurgaon Personal Loan is Rated as "Great!" by 1699 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    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 18 Jan 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.

    Gurgaon Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I've been using the Bank Bazaar platform for a while. The service is excellent. Employees helped a lot . The customer service is very quick and prompt with bank bazaar. Overall it has been a good experience with the Bank bazaar and I never had any issues with their services.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 18, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I took a personal loan from the Kotak Mahindra Bank. Only one reason i am giving 4 stars is the disbursement time was too late apart from this the Loan Process was very fast, their interest rate is nominal and the documentation part is very good. Overall it has been very good experience.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have applied the personal loan through bankbazaar.com and this is the first time. I came to know through advertisement. I am not recollecting the process since its been quite long time. Probably I might used website because have not downloaded the mobile application.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jan 12, 2019
    • Early Salary Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken my personal loan from Early Salary through online channel. The process was faster and taken 2 to 3 days. The customer service is good. I don't have any experience with other banks so I think the rate of interest was moderate. There was some processing fee that waived off due to promotional discounts.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 12, 2019
    • HDFC Bank Personal Loan
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      The experience with this Personal loan has not been that good where the interest rate with them has been very high. I had a corporate account and their rate of interest was around 14.5% which was not disclosed and there has been a lot of issues happened.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 09, 2019
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of Bank Bazaar for the last two years and their services has been good. I came to know about their services through internet and their customer support has been good and has been helpful. I have been using their website which has been convenient in using.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jan 09, 2019
    • IDFC Bank Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      It was a very good experience i had with this Personal loan. The interest rate with them has also been nominal when compared with the market rate. The loan amount has been sufficient and their charges has been nominal as well. I should appreciate the behavior and the response of their staffs which has been very good.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jan 09, 2019
    • Bank Bazaar Personal Loan
      "Best services"
      0.5 5.0/5 "Blown Away!"
      The service is very much satisfied with bankbazaar website. I have been started using this website for last 2 years. Just through online search, i have come to know about this website. The support team is really good when i approach for the loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 08, 2019
    • HDFC Bank Personal Loan
      "Good loan Experience"
      0.5 4.0/5 "Great!"
      The HDFC service is absolutely fine hence i have chosen them. I bought the loan amount of Rs. 3.75 lakhs approximately. They have given me a interest rate of 12.5% and I'm okay with it. The processing fee was high and they have charged for insurance too. I have chosen the tenure period for 36 months.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 08, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan with HDFC bank and my loan experience was good, so far i am satisfied with loan amount. And as well interest rate. I use to pay EMI per month and tenure period is 4 year.The process was so smooth at the time of documentation, i did not face any problems.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jan 08, 2019
    • Early Salary Personal Loan
      "Best service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from the EARLY SALARY , they offered the loan at a nominal interest rate. The loan was sanctioned and disbursed with in3-4 days. The customer support was also very good. It has been a hassle free personal loan experience with the EARLY SALARY .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 07, 2019
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I've started using Bank Bazaar platform recently. I use the mobile application which is easy to use. Their customer support follow up during the application was also very good. I never had any issues with their services. Overall it is a useful platform to compare various banking products online.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jan 06, 2019
    • Tata capital Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through TATA CAPITAL , i receive my loan with in few days the process was too quick with this bank , i did no face any issue while getting loan and at the time of documentation . Rate of interest is and processing fee is nominal . The tenure period of this loan is 3 years.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jan 06, 2019
    • HDFC Bank Personal Loan
      "Satisfied Service"
      0.5 5.0/5 "Blown Away!"
      I carry an salary account in HDFC bank. I would be happy to admit that HDFC bank does things the best. When it comes to the services they are genuine and satisfactory. HDFC has almost satisfied all my needs and requirement and i am happy to be associated with HDFC bank.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Dec 15, 2018
    • HDFC Bank Personal Loan
      "This loan fulfills my requirements"
      0.5 5.0/5 "Blown Away!"
      One month before i have applied the personal loan with HDFC since I'm holding a salary account. I have applied the loan amount of Rs. 3 lakhs and they have sanctioned the same. I have been paying the EMI of rs. 8550. I make the payment through ECS. Total tenure period of the loan is 4 years. They have provided me a interest rate of 14%
      Was this review helpful? 1
      , gurgaon
      Reviewed on Dec 13, 2018
    • Bank Bazaar Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I came to know about bankbazaar through google, they provide good services when compared to others. Customer service was good and they responded on time. Website of bankbazaar is user friendly and easy to use.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Dec 13, 2018
    • Kotak Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      It was not a good experience with KMB for personal loan, they said the loan amount will be disbursed within 3-4 days but it took 15 days to receive the loan amount. I expected the loan amount for Rs 9 lacs but only Rs 5 lacs was approved. Tenure period is 5 years with high interest rate and the customer support was not good.
      Was this review helpful? 3
      , gurgaon
      Reviewed on Dec 13, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan from HDFC bank for long time, there rate of interest they have charged to me was nominal, which was fine with me and there processing fee they have charge me was nominal , and they have provided good service and the loan amount which they have given us was sufficient.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 12, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been applied for personal loan with ICICI bank recently from past 10-15 month only, and the rate of interest they have charged me was nominal and the processing fee they have charged me was nominal, there overall service was good, i did not face any difficulty in getting loan .
      Was this review helpful? 2
      , gurgaon
      Reviewed on Dec 12, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I use bank bazaar service recently only and they provide me a good service like i have applied credit card from bank bazaar they help to guide me in documentation part and i came to know about this bank bazaar service through on line,and i use mobile application ,it easy to access.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 12, 2018
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