• Gurgaon Personal Loan

    Gurugram is a financial and technology metropolis in India, located close to the country’s capital. Gurgaon was the previous name for the city and Gurugram is the official name of the city. The city is currently known for its cutting-edge office spaces, shopping malls, and housing, among other things. You can apply for a personal loan from a bank or a non-banking financial company in this city if you need one. You can apply for a loan that meets your needs by comparing interest rates, processing fees, and other fees.
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    We found 19 Gurgaon 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
    Up to 3.50% One time fee
    Up to Rs.5L
    Up to 5 Years
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    15.00% - 21.00% Fixed
    3.00% One time fee
    Rs.1L - Rs.3L
    Up to 3 Years
    100% PAPERLESS APPROVAL
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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
    100% PAPERLESS APPROVAL
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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
    100% PAPERLESS APPROVAL
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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
    100% PAPERLESS APPROVAL
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    Documentation needed to apply for a Gurgaon Personal Loan

    The various documents that you will need while applying for a Gurgaon personal loan are:

    • 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 25 Sep 2022

    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
    • Standard Chartered Bank
    • Bank of Punjab
    • UCO Bank
    • IndusInd Bank
    • Kotak Mahindra Bank
    • State Bank of India (SBI)
    • Bank of Maharashtra
    • The Bank of Rajasthan
    • Indian Overseas Bank
    • Tata Capital
    • Citibank
    • Andhra Bank
    • IDBI Bank
    • Aditya Birla
    • ICICI Bank
    • Axis Bank
    • HDFC Bank

    How to Get a Personal Loan with Low Interest Rate in Gurgaon

    Personal loans are used for a variety of purposes, including home remodeling, household bills, higher education, vehicle financing, and so on. Getting the finest personal loan interest rates is thus a terrific approach to save money because you may reduce the amount of interest paid on EMIs over a longer period of time. Here are some strategies for obtaining a low interest rate on a personal loan in Gurgaon:

    • Creditworthiness: Your credit score will assess your creditworthiness and, as a result, the likelihood of repayment based on your debt history. A poor credit score implies that you may not be able to repay your debt, posing a danger to lenders. In this case, the lender compensates for the risk by increasing the loan’s interest rate.
    • Improving credit score: If your credit score is low, you may want to attempt increasing it, but you must evaluate how long you can wait before applying for a loan. If you can afford to wait a few months or even years, it’s a good idea to improve your credit before applying for a loan. Those with poor credit might improve their credit ratings by negotiating with lenders or adopting better spending habits. You can also try to repair your credit history and get the negative notation removed from your credit report. You must routinely make full and on-time EMI payments for months or even years in order to have a solid credit rating.
    • Research for better loan terms: When a collateral asset is secured under the debt, several banks offer personal loans with lower interest rates. If you have a valuable item, such as an equity or a car, you can secure your personal loan with that asset and earn a lower interest rate. If you are unable to repay your debt, the lender has the right to seize control of the asset as compensation. Collateralized loans are also easier to obtain, especially for people with poor credit. You might also take out a loan with a floating rate, where the interest rate rises in tandem with prime lending rates. You might also enlist the help of a family member or a friend to co-sign your loan. You can get a loan based on their creditworthiness this manner. Comparing loan rates from several lenders is a terrific approach to figure out which banks are offering the greatest deals. For this, you can use the loan comparison service provided by neutral third-party financial websites.

    Personal Loan Interest Rates in Gurgaon 2022

    Bank Interest Rate Range Lowest EMI for each Rs.1 lakh Processing Fee Range
    HDFC Bank 10.5% to 21% p.a. Up to 2.50% of loan amount Rs.40 lakhs
    IndusInd Bank 11% p.a. onwards 2.5% of loan amount Rs.15 lakhs
    Tata Capital 10.99% p.a. 2.5% of loan amount Rs.25 lakhs
    Citibank 9.99% to 16.49% p.a. Up to 2% of loan amount Rs.30 lakhs
    ICICI Bank 10.5% to 19% p.a. 2.5% of loan amount Rs.25 lakhs
    Kotak Mahindra 10.25% p.a. 2.5% of loan amount Rs.15 lakhs

    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 on 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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    Gurgaon Personal Loan Reviews

    • IndusInd Bank
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for indusind bank personal loan through online.I have not faced any drawbacks so far .The rate of interest and the processing fee was medium and this loan was taken for only personal use .There was proper callback and follow up from bank end as well as from online .
      Was this review helpful? 2
      , gurgaon
      Reviewed on Mar 12, 2020
    • Fullerton
      Fullerton
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The rate of interest and the processing fee was very high on fullerton .This loan was taken for personal use and still this loan is active.I have submitted documents through the agent .Everything is good and premium is paid on emi basis and for delay premium need to pay Rs.500 penalty as well as for cheque bounce .
      Was this review helpful? 5
      , gurgaon
      Reviewed on Mar 04, 2020
    • Shubh Loans
      "Need to decrease the rate of interest"
      0.5 3.5/5 "Pretty good"
      I have taken a personal loan from SHUBH and the loan amount was Rs. 92k. The rate of interest was high 24% and i am paying EMI of Rs.5300 with the tenure of 2 years. Documentation was very simple and executive collected then i received the loan within a week, customer service was good.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Feb 27, 2020
    • HDFC Bank
      "Service was Good"
      0.5 4.0/5 "Great!"
      I have applied for personal loan directly through HDFC Bank. Everything was good to me when applied for this loan but it was not processed from bank end. They didn't provide me any reason regarding the process. The documents are uploaded online and got a proper acknowledgement from bank end .
      Was this review helpful? 2
      , gurgaon
      Reviewed on Feb 19, 2020
    • Incred
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Incred personal loan through online .The rate of interest was 18% and later it was 24% this is not good. This loan got sanctioned on time hidden charges are there and i have taken 1lakh for the tenure of 2years but after deduction of charges got Rs. 92000 this was the issue .I have submitted the documents through the agent well uploaded documents .The rate of interest should be reduced then it will be good .
      Was this review helpful? 1
      , gurgaon
      Reviewed on Feb 17, 2020
    • Incred
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied Incred personal loan through online. I have not availed this loan since no payslip. I have not given any of my documents for this loan. I have not faced any issues so far. The rate of interest and the processing fee are nominal. Other than that there was no drawbacks .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 04, 2020
    • Incred
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken Incred personal loan through online .This loan was taken for personal use.The rate of interest was very high since had requirement taken this loan ,I have got the loan within 2 days .My first EMI was not deducted so far that is my issue other than that there was no drawbacks faced .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 28, 2020
    • Incred
      "Need to decrease interest rate "
      0.5 4.0/5 "Great!"
      I have applied a personal loan with Home credit through an online. The rate of interest is bit high of 21%. Processing fee is avail for this loan. They have sanctioned the loan of 1.25L it took around 5 days. The loan amount was bit low tenure period of 3 years. I would suggest the customer service should improve their service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 10, 2020
    • Incred
      "Good service "
      0.5 4.0/5 "Great!"
      I have applied for personal loan directly through INCRED. The rate of interest and the processing fee was very high 32% including GST. I am paying the premium on EMI basis of Rs. 1.50L and the tenure period of 2 years. have got this loan without any delay .Within 3 days the loan was sanctioned and the service was average. Customer service was good.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Jan 09, 2020
    • Incred
      "Easy loan approval "
      0.5 5.0/5 "Blown Away!"
      I have applied for Incred Personal loan directly through Online. The loan amount was Rs. 30,000 and the rate of interest and the processing fee was nominal. Documentation process was simple, i uploaded through online and also i receive within 3 days.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 08, 2020
    • PaySense
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      Its because of the personal needs, i have selected the personal loan with Paysense. The main thing is less documentation and fast loan disbursal. Their support is really good. I applied the loan amount of Rs. 2 lakhs but as per documents, they have provided only Rs. 89000. They need to send the reminders regarding the EMI deduction before due date.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 08, 2020
    • Incred
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Its easy way to convey the process of getting the loan from Incred. I have applied the loan amount of Rs. 1.50 lakhs but they gave Rs. 1.38 lakhs and i don't remember about the processing fee and interest rate. They have approved the loan 1 week later once i applied after that it took 2 days for the amount disbursement. I'm good with the customer care because when i asked so many questions they replied with very patience.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 07, 2020
    • Syndicate Bank
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SYNDICATE Bank. The loan amount was Rs. 2.75 lakhs and the rate of interest was quite higher 24%. I am paying EMI of Rs. 8,000 and the tenure period of 5 years. Preclosure charge is 4% and documentation was simple i uploaded through online and i received this loan amount within 2 working days. Customer service was good.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Jan 07, 2020
    • Bajaj Finserv
      "They committed different ROI but charged higher interst rate"
      0.5 1.0/5 "Really Bad"
      I have taken a personal loan from BAJAJ FINSERV and the loan amount was Rs.60,000. The rate of interest, they committed as 19% after that they charges more than like 34% it is very much high. Regarding this i called to customer service, but they not picking call and also paying EMI of Rs.2776 for 36 months.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Jan 07, 2020
    • EDELWIESS
      "Need to decrease the rate of interest"
      0.5 3.5/5 "Pretty good"
      I have taken a personal loan from EDELWEISS and the loan amount was Rs. 1,50,000. The rate of interest was 23% it is very high interest need to decrease. Documentation process was simple executive collected at my place and i received this card in 15-20 days. Preclosure charges are not applicable, customer service is not bad just happy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 07, 2020
    • Tata capital
      "Average Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Tata Capital Ltd personal through Online .I have not availed this loan since my requirement was over. I was not having any issues with the rate of interest and the processing fee. I have not submitted any of my documents .The agent shared all the required information about the loan process.There was proper callback and follow up.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 06, 2020
    • Citibank
      "Best Service"
      0.5 4.0/5 "Great!"
      I have applied for Citi Bank personal loan through Online .I have not taken this loan since availed some other loan at that time .There was proper callback and follow up when applied for this loan .The agent shared all the relevant details about the loan process.There was no difficulties faced so far.
      Was this review helpful? 3
      , gurgaon
      Reviewed on Dec 01, 2019
    • HDFC Bank
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan directly through HDFC Bank .The rate of interest and the processing fee was nominal .Each and every details about this loan was clearly explained by the agent.I have got the loan amount on time without any delay .This was a paperless approval and i am satisfied with the service so far.
      Was this review helpful? 4
      , gurgaon
      Reviewed on Nov 09, 2019
    • Fullerton
      "Not good service"
      0.5 1.0/5 "Really Bad"
      I am not happy with FULLERTON service. Based on my eligibility only this bank available so I had chosen to apply for a personal loan. There is no facility to contact the customer care service. There is no proper follow up from their end. I have submitted all my documents through online.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Nov 05, 2019
    • HDFC Bank
      "Very good"
      0.5 4.0/5 "Great!"
      My experience is good with HDFC BANK on personal loan. It was taken one year ago and the loan amount was sufficient. The processing fee is there and it was around 3K-3.5K from 50K. The interest rate was 11 to 12% for 2 years. The loan process was immediate.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Oct 26, 2019
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