Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Gurgaon Personal Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    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 Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    0 One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11% - 16.49% 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
    Think about
    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
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  • Gurgaon Personal Loan Reviews

    • Bank Bazaar Customer Support
      "Good mobile application"
      0.5 5.0/5 "Blown Away!"
      I like the mobile application of Bankbazaar.com and it was nice to use the application. It works fast and it is helpful to get details of banks. The customer services and response was quick in the beginning, and they could have been the same with the follow up process as well.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Fast process"
      0.5 4.0/5 "Great!"
      After me applying at HDFC Bank for the personal loan. I got the funds within three days. The process has been perfect and super fast.The customer services are also good and the overall experience is satisfactory. I got a better deal on the rate of interest and processing charges as my company is a listed one.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 24, 2017
    • Axis Bank Personal Loan
      "Awesome Service"
      0.5 5.0/5 "Blown Away!"
      I applied for a loan and it was a very smooth process and got the money in just 1 day post receiving the message from Axis Bank of loan disbursal. Amazing experience. Cheers to Axis Bank! The interest rate is 10.99% plus this loan is insured i.e. if there is any mis-happening my family will not be liable to pay the loan back.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 06, 2017
    • Standard Chartered Bank Personal Loan
      "Not Responsive"
      0.5 1.0/5 "Really Bad"
      Recently, I had applied for the personal loan with Standard Chartered Bank. But there is no response at all from the bank. I did not receive any kind of communication from the bank. They should inform the status of the application to the customer. I am completely unhappy with SCB.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 04, 2017
    • Bank Bazaar Customer Support
      "Better Response"
      0.5 3.0/5 "Satisfactory"
      I visited bankbazaar website and applied for the personal loan over there. And I had received calls from bankbazaar and they forwarded my application to the bank in order to process the loan application. They could improve their service more effectively in giving bankers contact number to the customers like that.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 04, 2017
    • Citibank Personal Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      Citi bank processed my personal loan application in a proper way. Their responses are good also the customer service is nice from the bank. But interest rate is bit high with Citi when compared with other banks. Whenever I call Citi bank on my loan application, my calls were not answered and it was always busy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 04, 2017
    • Bank Bazaar Customer Support
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      The customer services at Bankbazaar has been great. The website is good and pretty helpful. The executive has been supportive and they helped me with the details I needed. It was a quick process and I had no hassles in getting to know banks and the offers.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 30, 2017
    • Standard Chartered Bank Personal Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      It was a fantastic experience with Standard Chartered bank and overall experience is good. The process was smooth and easy and the documentation was minimal. I got the personal loan without any hassles and the funds were disbursed as needed. The interest rate and charges were reasonable.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 30, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 4.0/5 "Great!"
      Bankbazaar.com is really a good one and I am using it from the last one month of time. I am happy with the Bankbazaar.com and the services, co-ordination are really working in a good way. Website of the Bankbazaar.com is also easy to use.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 21, 2017
    • Standard Chartered Bank Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Rate of interest was around 11.5% with the Standard chartered bank for the personal loan. Within ten days of time, the loan amount got disbursed and the customer service is an excellent one and I have not faced any hiccups with them till now. Processing charges were nil with them.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 21, 2017
    • ICICI Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken the personal loan from ICICI bank. There was no challenge with the bank while processing the loan. And the interest rate is 11.29%. The bank is promptly disbursed the loan on time. But the customer service and response is little difficult with the bank but ICICI is better than HDFC bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 21, 2017
    • Bank Bazaar Customer Support
      "Good"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar provided good response towards my loan application. The moment I submitted the application, they promptly contacted me and provided the relevant information for the loan. The website is pretty easy to navigate and the overall service is good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "High Interest Rate"
      0.5 3.0/5 "Satisfactory"
      I found that the interest rate is more than 12% for the personal loan with HDFC bank when compared with the other banks. Initially I submitted loan application with HDFC bank, later I did not process my application with them as the interest rate is high. Also HDFC requires more documents that the other bank. But their responses are good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 21, 2017
    • Bank Bazaar Customer Support
      "Good. Can do better"
      0.5 3.0/5 "Satisfactory"
      The response from Bankbazaar was good as they were on time to contact me. I was asked to upload the documents online and once I uploaded the same, there is an online document review system which takes the documents and checks if it is okay or not. A user can clarify and explain about the documentation directly with the bank than to do it with Bankbazaar first and then repeat the whole process with the bank again so this should be avoided.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2017
    • ICICI Bank Personal Loan
      "High on ROI"
      0.5 3.0/5 "Satisfactory"
      The thing was when ICICI Bank contacted me they quoted me a high rate of interest of around 16% for the personal loan. Since I got a better offer from another bank, I did not go ahead with the loan. I would recommend them because they were upfront in giving me detail, which is good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2017
    • Axis Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Four months before, I had taken a personal loan from Axis bank. I do hold a salary account with the same bank. Once I submitted my documents to the bank they processed the loan and it was all completed in a proper way. The interest rate levied by them was around 16%.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2017
    • Bank Bazaar Customer Support
      "Web portal is good"
      0.5 5.0/5 "Blown Away!"
      I had received several followup calls and proper communication from bankbazaar. The website is good and it is really understandable. The URL and the links are nice. I submitted my loan application on bankbazaar website, immediately they responded on time.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2017
    • HDFC Bank Personal Loan
      "High Interest Rate"
      0.5 4.0/5 "Great!"
      I had applied for the personal loan with HDFC bank. But the interest rate is bit high with them hence I did not process my loan application and I managed my requirement. But I had received good response and followups from HDFC bank on my loan application.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2017
    • Bank Bazaar Customer Support
      "Satisfactory"
      0.5 4.0/5 "Great!"
      The customer services at Bankbazaar has been good, though there were some challenges in between, overall the experience was satisfactory. The website is good and very much useful and informative. There were follow up calls as well right through.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 17, 2017
    • HDFC Bank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      HDFC Bank has helped me a lot for the personal loan. The process was good and on time and that is what I wanted. The interest rate could have been more manageable, but it is fine as i got the funds as needed. I got a rate around 16%. The processing charges was also normal.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 17, 2017
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    Gurgaon Personal Loan is Rated as "Great!" by 1305 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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 28 Jul 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.


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