• Gurgaon Personal Loan

    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.
    More
    We found 18 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
    Ad 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.00% - 16.75% Fixed
    Zero Processing Fee
    Up to Rs.25L
    1 - 5 Years
    Ad 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Customer Reviews
    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    17.00% - 26.00% Fixed
    2.00% One time fee
    Rs.2L - Rs.20L
    0.5 - 4 Years
    What you'll love
    Documents
    Perks
    Think about
    Good to Know
    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 22 Oct 2020

    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.

        

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Gurgaon Personal Loan Reviews

    • IndusInd Bank Personal Loan
      "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 Personal Loan
      "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? 1
      , gurgaon
      Reviewed on Mar 04, 2020
    • Shubh Loans Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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 Personal Loan
      "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
    Common Loader Icon
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.