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
    10.99% - 15.99% Fixed
    Up to 2%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Fees & Charges
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    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
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    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
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    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
    Think about
    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
    10.99% - 17.99% 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
      "Nice Service"
      0.5 5.0/5 "Blown Away!"
      If we have an option to compare all the bank interest rate in one place, then it would be too good and easy to select the bank for the financial need. I recently visited bankbazaar website and it is superb for use, also they provided a good service for my loan requirement.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 14, 2017
    • Citibank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      Citi bank disbursed my personal loan on time. The bank is good in providing a proper service without any issues. I felt the interest rate which was offered by the bank is quite good and as per my experience with Citi, I do not have any negative feedback about the bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 14, 2017
    • Bank Bazaar Customer Support
      "Simple Process"
      0.5 5.0/5 "Blown Away!"
      It was a prompt service which I had received from Bankbazaar. I dont want to give any suggestions for bankbazaar because the entire process went smooth. Also I could say that the bankbazaar service is good and simple to compare the rates with other bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 14, 2017
    • Tata capital Personal Loan
      "Completely good"
      0.5 5.0/5 "Blown Away!"
      Interest rate is good for the personal loan. It is something a very important thing for the loan and I have no issues with the rate of interest. Tata capital processed my loan without any issues. The loan service from Tata was quite good and I am satisfied.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 14, 2017
    • Bank Bazaar Customer Support
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I got a very quick response from bank bazaar website. The customer support is very helpful to get in touch with the bank partner. The website of bank bazaar is easy to use and customer friendly. The bank bazaar is an helpful portal where I get very good knowledge about the financial products.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 12, 2017
    • ICICI Bank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I have found the difference with ICICI bank and HDFC bank , With ICICI its just 6 months of loan locking period , so I can pay the balance amount after 6 months and close the loan but with HDFC it was 1 year. The customer service was good with ICICI bank. The way they gave response was good. They have disbursed my loan within 10 to 12 days, I am happy with the loan amount.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The HDFC bank has asked me my Cheque leafs to proceed with the personal loan. The customer service was good from HDFC bank. The loan locking period was around 1 year with HDFC bank , so that was the reason I have choose ICICI bank. The rate of interest is low with Hdfc when compared with ICICI bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 12, 2017
    • Bank Bazaar Customer Support
      "Easy to use"
      0.5 4.0/5 "Great!"
      The best part I like in Bank Bazaar is the quick response, when I applied personal loan through Bank Bazaar,I got an instant service. Its my first experience it gave me best service, the application is also user friendly to browse, to apply for any loan products.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 11, 2017
    • Kotak Personal Loan
      "Interest should be reduced "
      0.5 4.0/5 "Great!"
      I am not Compromised with Kotak Mahindra interest rate, hence I had taken loan from other bank with the interest rate 10.99 for the personal loan. But Kotak offered me 11.45% of interest, I asked them to reduced the rate but they denied process for the loan as it was offered for a lower interest.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 11, 2017
    • Bank Bazaar Customer Support
      "Good Website"
      0.5 4.0/5 "Great!"
      I appreciate the quick response provided by Bank Bazaar and it is excellent, whenever I post any request I always get an instant reply from them and it is great. I am very impressed with that and also the site is very friendly to check the banking information, I am very much fine to use it.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 11, 2017
    • HDFC Bank Personal Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      I have invested some money in the market, I got my money back, hence there was no need to take any loan from HDFC. But their service is good, they have contacted me on time and help on my request but I denied to process because there was no requirements to go head.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 11, 2017
    • Bank Bazaar Customer Support
      "Convenient"
      0.5 5.0/5 "Blown Away!"
      I had received a prompt service from bankbazaar for my loan process. They had forwarded my application to the bank and provided a proper followup and updates on my loan application. The website is a kind of easy to handle and there are no issues with them.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 09, 2017
    • Citibank Personal Loan
      "No Issues"
      0.5 5.0/5 "Blown Away!"
      I did not face any issues with Citi bank during the personal loan process. The bank is good in providing a proper service and they done with the loan without any hassles. The rate of interest is good and their customer service is approachable.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 09, 2017
    • Bank Bazaar Customer Support
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar services was good. I approached them for the loan process and they had provided a prompt service for my loan application. The bankbazaar website is informative and it is easy to handle. I had no issues with bankbazaar for the loan service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 08, 2017
    • Tata capital Personal Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      Personal loan process went good with Tata capital. It was quite easy to avail the process was simple. But they had taken a lot of time to disburse the amount. It was quite delayed service but other than that their customer service and response was good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 08, 2017
    • Bank Bazaar Customer Support
      "Satisfactory "
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar was good, after initiating the loan process to the banks. There could be more follow up calls as well and coordination with the bank till the end of the process. The website is good and very user friendly, I had no hassles overall.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 03, 2017
    • Tata capital Personal Loan
      "Overall good. But high on ROI"
      0.5 4.0/5 "Great!"
      The personal loan with Tata Capital has been a quick process. I got the loan within a week. The rate of interest was of 13.99% which was given after much of negotiation. The processing charges were waive off. The customer services and response was good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 03, 2017
    • Bank Bazaar Customer Support
      "Userfriendly website"
      0.5 4.0/5 "Great!"
      The responsiveness of Bank Bazaar is good, whatever the queries I had it got resolved. The application is also easy to use, I have seen many thing through Bank Bazaar, what I needed that I found, its easy to compare the rates as well. The executive are also very prompt in service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 03, 2017
    • ICICI Bank Personal Loan
      "Timely Deliverance"
      0.5 4.0/5 "Great!"
      ICICI provided the loan on time documentation process was very simple. I have salary account with the same bank so they done quick process, everything gone well. Being an existing customer, HDFC have provided lower interest for the personal loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 03, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Interest rate is the lowest one at the time when I was taking the personal loan from HDFC bank. The entire loan process went good with them and I had received good customer support and proper response from the bank. It is hassles free service..
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 03, 2017
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    Gurgaon Personal Loan is Rated as "Great!" by 1318 Users

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    Promised Interest Rate

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    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 16 Aug 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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