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Guwahati is the capital of Assam, a state in northeast India. It is a tranquil city surrounded by rivers and hills. It serves as a transit stop for millions of passengers travelling to and from various locations in the country's northeastern regions. It is a major port city that has experienced significant growth in recent years.
If you need a personal loan in Guwahati for any reason, you can easily apply for one over the Internet or by visiting your lender's location in the city. You may complete the entire application procedure on your own without the help of a professional when you apply online. When you visit a branch, on the other hand, you will almost certainly need assistance from a branch executive to finish the entire process.
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 |
Let us take a look at some of the top banks and non-banking financial companies (NBFCs) that provide personal loans in the city of Guwahati:
This table shows the interest rates for some of the banks that offer personal loans in Guwahati:
Bank | Processing Fee | Interest Rate | Loan Amount | Tenure |
---|---|---|---|---|
Citibank | 1% to 2.5% | 9.99% - 16.49% (Fixed) | Rs.30 lakh | 1-5 years |
IDFC FIRST Capital | Up to 3.5% (OTF*) | 10.49%-22% | Rs.40 lakh | 1-5 years |
Standard Chartered | Nil | 11.49% p.a. onwards | Rs.50 lakh | 1-5 years |
HDBFS | At the discretion of the lender | Up to 36% p.a. | Rs.20 lakh | 1-5 years |
TATA Capital | 2.75% | 10.99% onwards | Rs.25 lakh | 1-6 years |
IndusInd Bank | 2.5% of the loan amount | 11.00% onwards | Rs.15 lakh | 1-5 years |
HDFC Bank | Up to 2.5% (OTF) | 10.5%-21% (Fixed) | Rs.40 lakh | 1-5 years |
Aditya Birla | Up to 2% of the loan amount | 14% to 26% (Fixed) | Rs.15 lakh | 1-3 years |
Fullerton | 0% to 6% (OTF) | 11.99% - 36% | Rs.25 lakh | 1-5 years |
HDBFS Business Loan | 2% (OTF) | 10.5% p.a. onwards | Rs.30 lakh | 1-4 years |
Kotak Mahindra | Up to 2.5% | 10.25% onwards | Rs.20 lakh | 1-5 years |
Bank of India | 2% of the loan amount subject to Rs.1,000 to Rs.10,000 (GST not included) | 10.35% - 12.35% | Rs.2 lakh | 1-3 years |
Bank of Baroda | 2% of the loan amount subject to Rs.1,000 to Rs.10,000 (GST not included | 10.50% - 12.50% | Rs.50,000 to Rs.15 lakh | 1-5 Years (Max) |
BOM | 1% (Min. Rs.1,000) | 9.45% p.a. -12.80% p.a. | Rs.20 lakh | 1-7 years |
Central Bank | 1% of the loan amount | 9.85% -10.05% p.a. | Rs.10 lakh | 4 years |
IDBI Bank | 1%+S.T. (OTF) | Up to 10.90% (Floating) | Rs.50,000 to Rs.5 lakh | 1-5 years |
IOB | Up to 0.5% of the loan amount | 10.50% p.a. | Up to Rs.5 lakh | 1-5 years |
Karur Vysya | 1.5% (OTF) | 11.00% to 19% | Up to Rs.10 lakh | 1-5 years |
SBI | 1.5% (OTF) | 9.60% - 15.65% | Up to Rs.20 lakh | Up to 72 months |
Union Bank | At the discretion of the bank | 9.30% p.a. onwards | Rs.15 lakh Max. | 1-5 years |
UCO Bank | 1% (Min. Rs.750) OTF | 10.05% to 10.30% | Rs.15 lakh | 5 years |
RBL Bank | Up to 3.5% of the loan value | 14% p.a. - 23% p.a. | Up to Rs.20 lakh | 1-5 years |
Yes Bank | Up to 2.5% (OTF) | 10.99% onwards (Fixed) | Rs.40 lakh (Max) | 1-5 years |
If you want to qualify for a personal loan in the city of Guwahati, you must first complete a few basic eligibility requirements. This usually comprises factors such as age, income, and repayment ability.
When applying for a personal loan, you must be at least 21 years old and no older than 60 or 65 years old. The minimum age requirement varies by lender.
Salary criteria differ from one lender to the next. However, you must be making a solid monthly salary while asking for a personal loan in this location. If you are a paid employee, you should be earning at least Rs.7,500. If you are a self-employed applicant, your business should generate at least Rs.1 lakh in profit each year.
The maximum loan amount will depend on your lender. It will be determined by your repayment ability, credit history, and relationship with your lender.
You can repay a personal loan in Guwahati or in any other city through various modes. This will also depend on your lender. The common modes of loan repayment include Standing Instruction (SI), Electronic Clearing Service (ECS), direct debit from your bank account, etc. You can choose any of these as per your convenience.
Yes, you can select a balance transfer facility for your personal loan in case you want to shift the balances of your personal loan to another lender. You will have to check with your current lender and new lender regarding the terms and conditions for balance transfer.
While applying for a personal loan, even a credit score of 750 and above does not assure loan approval. This is very important to remember. When your credit score is lower than 750, you may have lower chances of getting your loan approved. Hence, if you really want that loan, you could put in a little extra effort to enhance your credit score. This can be achieved by being spending money in moderation. You could also present a security or collateral as it will reduce the risk of your lender. In case you got an increment in your salary, you can display your income proof to show that you can afford to repay the loan promptly. You may also combine your spouse’s income to boost your loan eligibility.
There are quite a few lenders in the city that provide top-up options for personal loans. You could check with your lender regarding the specifications of the top-up facility. Generally, you will have to complete paying EMIs at least for 12 months and only then you can avail the top-up facility.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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