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    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.
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    We found 33 Gurgaon Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.75% - 18.00% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
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    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
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    20% - 22%  Fixed
    2.50%
    2L Max
    1-3 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    Response Time : Within 30 minutes
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    11.25% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.25% - 19.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    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
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
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    11.25% - 22.00% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    Gurgaon Personal Loan is Rated as "Great!" by 1840 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 27 May 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.

        

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    Gurgaon Personal Loan Reviews

    • Capital First Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan with Capital first ten days ago, their service was good, i got loan on time, they did not ask much documents, their customer care help me out if i get any query or issue, their overall service so far was good, this month i will pay my first EMI.
      Was this review helpful? 1
      , gurgaon
      Reviewed on May 20, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I applied for a personal loan with ICICI BANK and without any delay it was processed on time . I am happy the way they understood my need. Only they need to work on precloserre option where in SBI there is no charges for preclposere and in others bank they have .
      Was this review helpful? 2
      , gurgaon
      Reviewed on May 15, 2019
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      my experience is good with HDFC bank personal loan , I took this loan last five month back ,and tenure is 1 years , loan amount is 50k , and EMI amount is 5K, here rate of interest is 9% is nominal , their allover service is good , I am satisfied with this bank ,
      Was this review helpful? 1
      , gurgaon
      Reviewed on May 06, 2019
    • Bank Bazaar Personal Loan
      "Highly useful Banking app"
      0.5 4.0/5 "Great!"
      I started to use the Bank bazaar app is nowadays . Because more banking product is available under single app . I can check for various product like credit card , loans and Insurance . Even on Saturday and Sundays , I can apply for the any product in online .
      Was this review helpful? 1
      , gurgaon
      Reviewed on Apr 30, 2019
    • HDFC Bank Personal Loan
      "Good Personal loan"
      0.5 4.0/5 "Great!"
      In HDFC personal loan , they had sanctioned the loan in correct time . Though I had applied for a smaller amount only that too they have sanctioned ontime . But they arranged a customer executive to me, He never pick my call during initial stages . Customer support is need to be improved .
      Was this review helpful? 1
      , gurgaon
      Reviewed on Apr 30, 2019
    • Citibank Personal Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      I have good experience with CITI, I took the principal amount of Rs. 3.7 lakhs for the duration of four years, initially they have processing fee around Rs. 7000 its a drawback. The documentation everything completed on time, the interest rate is same as other bank.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Apr 23, 2019
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I came to know about bank bazaar through Internet and was happy the way it take cares of my financial deals. The website is easy to use and the customer support follow up was very much helpful during the application. Overall the whole process was smooth and hassle free.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 22, 2019
    • HDFC Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC BANK . I applied for 13.6lakh and i did not got the same amount . It took just a week time to get things done. 5 years of tenure period and the rate of interest is reasonable 11.8% here. Overall it has very good experience with this bank .
      Was this review helpful? 1
      , gurgaon
      Reviewed on Apr 22, 2019
    • Kotak Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had my Salary account with KOTAK MAHINDRA BANK where they offered with a personal loan & the experience has been pretty good. The interest rate has been quite same as the market rate & there was some processing fee, insurance charges as well.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Apr 16, 2019
    • Kotak Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I took one personal loan from kotak mahindra bank . My loan amount is 3L and rate of interest is little high just 13% and my tenure is 3years last one month back I have taken this loan ,and my EMI amount is 6800K and their customer service is not much good ,
      Was this review helpful? 1
      , gurgaon
      Reviewed on Apr 13, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      Last 10 years, I know bank bazaar which was known through online browser. I have been using website, its easy to access. Their customer service is good and response is also good. I have not got any offer from bank bazaar but I am happy with service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 13, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      When I want to take my personal loan .their rate of interest was very high and and loan amount was not sufficient so I didn't take my loan ,and their customer service was also not not I was not happy that personal loan so I did not take that loan....
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 13, 2019
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I know bank bazaar last five years above through website and mobile application both I have and both I have been using its easy to access, and their customer service is good but its not faster process my suggestion this one improve more then faster process,
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 13, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I had experienced some sort of delay when it comes to HDFC Bank when I want to take my personal loan more then one month taken time so after one month there was no need of any loan , and their customer service is not good and response is also not good , I am not happy with this bank and their customer service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 13, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      I had taken a Personal loan from HDFC BANK a while back and the loan is still running. The loan amount that i had availed was around 55,000 and the interest rate with them was only around 13% which was quite low. The processing fee with this loan has also been quite less.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Apr 12, 2019
    • Bank of India Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken a Personal loan from BANK OF INDIA a while back where the process had been good. The loan amount has been fine, but the interest rate with them was around 16% which was quite high when compared with the other banks. The processing fee and charges has been pretty nominal.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Apr 12, 2019
    • HDFC Bank Personal Loan
      "Nice customer support "
      0.5 4.0/5 "Great!"
      HDFC normally just take 6-7 days for sanctioning the personal loan . I never don't know on what basis the calculating the rate of interest . But for my profile the provided the better interest rate . HDFC providing the personal loan according the customer convenience .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 11, 2019
    • Bank Bazaar Personal Loan
      "Loan hub where we can choose to meet our requirement"
      0.5 4.0/5 "Great!"
      The support team of Bank Bazaar is very helpful, they guided me on the loan process. The user interface is very hassle free to check the loan products. But I would like to suggest them, the documentation should be more simpler and should avoid multiple paper work.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 10, 2019
    • Tata capital Personal Loan
      "Genuine Service Provider"
      0.5 4.0/5 "Great!"
      I wanted a loan hence I posted the request on the online channel, then I got Tata Capital option its suitable for me. The interest rate is very attractive around 12.33% for the principal amount of Rs. 1 lakh. I will recommend this because emi comes along with the reasonable interest.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 10, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I came to know about bank bazaar service through on line,as i was checking my credit score through it,and this is my first time i have been availing their service ,i have been using their website,it is easy to access,Their service so far was good.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Apr 08, 2019
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