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  • Gwalior Personal Loan

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  • With easy eligibility criteria and relatively low interest rates, getting a personal loan in Gwalior is fairly simple. Residents on Gwalior can access personal loans at interest rates starting from just 10.99%. The city is home to some of the biggest banks and NBFCs in India, and borrowers have a variety of options to choose from, thereby making it easy for you to find the loan that best meets your financial requirements.
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    We found 17 Gwalior Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.75% - 21.45% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    Fees & Charges
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    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
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    Fees & Charges
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    Customer Reviews
    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
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    Fees & Charges
    Eligibility Criteria
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
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    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
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    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
    What you'll love
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    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
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    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    Perks
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    Customer Reviews
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
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    Gwalior is one of the largest cities in the state of Madhya Pradesh.A number of industrial and commercial zones have developed around Gwalior.it is the tourist capital of Madhya Pradesh and is one of the largest cities in central 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.

    Documentation needed to apply for an Gwalior 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

    Gwalior Personal Loan Interest RatesUpdated on 24 Oct 2019

    Gwalior 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 Gwalior

    Top banks and NBFCs in the country offer personal loans for those who need emergency cash to clear debts or clear medical expenses, fund their wedding, take a trip abroad, etc. When loan shopping, customers can make use of financial portals such as BankBazaar to choose a particular loan offered by a particular bank. On the BankBazaar website, customers can compare loans offered by its partner banks and choose one offering the best interest rate - relative to the tenure. Customers can also make EMI calculations on the BankBazaar website to determine what exactly will be their debt-to-income ratio if and when they do avail the personal loan.

    Personal Loan offered by various Banks in Gwalior

    Listed below are the top banks and NBFCs in Gwalior that are offering personal loans.

    • Standard Chartered Bank
    • Bajaj Finserv
    • Axis Bank
    • Aditya Birla
    • Oriental Bank
    • ICICI Bank
    • Fullerton
    • Tata Capital
    • HDFC Bank
    • Kotak Mahindra Bank
    • Citibank

    How do I get a Personal Loan with the lowest interest rate in Gwalior?

    Customers generally make the mistake of choosing the bank holding their salary account without actually loan shopping as it relaxes the paperwork, but in most cases, availing a loan elsewhere will result in them saving money. Customers need to look at all the components that affect the overall interest rate added to the personal loan. To ensure that you are offered a loan at the lowest possible interest rate, one will have to look at the below mentioned components that affect the interest rate.

    Credit score: A credit score of 750 plus is ideal when availing a personal loan. If your credit score is below 750, banks usually offer personal loans at a higher interest rate. The higher your credit score, the lower will be the interest rate offered to you by the bank or the NBFC.

    Down payment: Making an upfront down payment anything north of 20% of the total loan amount will result in the bank offering you a lower interest rate.

    Debt-to-income ratio: Banks and NBFCs usually prefer for the loan applicant's debt-to-income ratio to be below 40% or 50%. If it above, in most cases reject the application as it reduces the bank’s trust in your repaying the loan amount in time. Having a debt-to-income ratio anything less than 40% of your net monthly income will result in the bank or NBFC offering you a personal loan at the best possible interest rate.

    Loan shopping: Financial portals such as Bank Bazaar aid customers when it comes to choosing a loan as they compare the loan offers (with the interest rate, processing fee, etc.) of all its partner banks and displays the bank or NBFC offering personal loans at the lowest interest rate.

    Your company’s reputation and your experience: When availing a personal loan, having a good number of years of experience as well as working for a reputed company is a big bonus as it enhances the bank’s trust in your repaying the loan in time.

    Negotiating: Making a negotiation with the bank availing you a loan on the interest rate might just get you a better deal. If you have a good past relationship with the bank, it’s a good chance that the bank will give you the best interest rate possible.

    Personal Loan Interest rates in Gwalior 2018

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.00% - 17.99% (Fixed) 2.25% (min. Rs.1149) One time fee Rs.20 lakh (Max) 1-5 Years
    Citibank 11.49% - 15.99% (Fixed) 1% to 2.5% Rs.30 lakh (Max) 1-5 Years
    Kotak Mahindra Bank 11.49% - 20.15% (Fixed) Up to 2% Rs.15 lakh (Max) 1-5 years
    Fullerton 17.25% - 37% (Fixed) 1.5% to 6.0% (One time fee) Rs.15 lakh (Max) 1-4 Years
    Bank of Baroda 11.35% - 14.35% (Fixed) Rs.1,000 to Rs.10,000 (One time fee) Rs.20,000 - Rs.2 lakh 4 Years (Max)
    State Bank of India 12.90% - 14.90% (Fixed) 1% (One time fee) Rs.24,000 - 15 lakh 5 Years
    Aditya Birla 11.5% - 13.25% (Fixed) Nil Rs.30 lakh (Max) 1-5 Years
    Allahabad Bank 13.10% (Fixed) 1.22% (One time fee) Rs.50,000- Rs.7.5 lakh 1-5 Years
    Yes Bank 14% (Fixed) Up to 2% (One time fee) Rs.20 lakh (Max) 1-5 Years

    Salary requirements to avail Personal Loans in Gwalior

    Banks and NBFCs take into consideration the income of the individual during the verification process. During this part, the debt-to-income ratio of the applicant usually decides whether the bank will either accept or reject the application. The salary requirements varies from bank to bank and also depend on the loan amount one wishes to take and.

    For salaried individuals: In general, the salary requirement - depending on the bank and type of loan - ranges between Rs.7,500 and Rs.50,000 of the applicant's monthly net income.

    For self-employed individuals: Banks and NBFCs take into consideration the self-employed individual’s income over the last two years. In most cases, the profit of the individual for the year should be between Rs.1 lakh and Rs.2 lakh for the individual’s loan application to be approved.

    Gwalior Personal Loan FAQs

    1. What is the personal loan amount limit one can avail?

      Salaried individuals can avail loans anything up to Rs.25 lakh. In the case of availing a joint loan, the loan amount will increase as the income of both parties are taken into consideration.

    2. Are there any foreclosure charges for personal loans?

      Banks and NBFCs charge anything between 2-4% of the outstanding amount when the customer makes a foreclosure. That said, in most cases customers can make a foreclosure only 6 months after commencement of the loan.

    3. Can you tell me the best way to pay an EMI towards a loan?

      There are several ways to pay an EMI. You can use your net banking account, credit card, debit card, etc.

    4. Tell me the best way to calculate the EMI towards a personal loan?

      You can calculate the EMI using online EMI calculators. The BankBazaar EMI calculator is accurate.

    5. What affects the credit score of an individual?

      Failure to pay your credit bills and loan dues in time affects the credit score of an individual. A good credit score is anything above 750.

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

        

    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.

    Gwalior Personal Loan Reviews

    • HDFC Bank Personal Loan
      "It's good"
      0.5 4.0/5 "Great!"
      HDFC BANK took around 5 to 7 days for the personal loan disbursement, when I have applied it through online. They have provided me a sufficient amount, the interest rate should be minimal but its acceptable. The processing fee is around 6 to 7K. The loan duration is 5years.
      Was this review helpful? 3
      , gwalior
      Reviewed on Oct 17, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan from HDFC Bank. I did not provide salary slip so they had closed my application. The rate of interest is very much nominal. I had submitted my documents online as well as hard copy to their executive. I am happy with their services.
      Was this review helpful? 1
      , gwalior
      Reviewed on Oct 15, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online.I have not availed this loan since it was not processed from bank end .I have got all the relevant information about the loan process.I was not facing any difficulties with the rate of interest and the processing fee.
      Was this review helpful? 0
      , gwalior
      Reviewed on Oct 04, 2019
    • HDFC Bank Personal Loan
      "Need to imrpove their service"
      0.5 5.0/5 "Blown Away!"
      Once I was applied for a personal loan with HDFC bank on 2 months before which was processed through an online. But once I applied have not receive any call from bank for further verification. The loan amount of 4 lakhs for the tenure of 5 years. The interest rate was nominal. From bank closed the loan process and not intimate the reason.
      Was this review helpful? 0
      , gwalior
      Reviewed on Oct 04, 2019
    • ICICI Bank Personal Loan
      "Good customer service"
      0.5 3.5/5 "Pretty good"
      I have applied for the personal loan from ICICI bank, my loan application was closed because the rate of interest was way high when compared to all other banks. The customer service and their response was good, they followed up on regular intervals.
      Was this review helpful? 0
      , gwalior
      Reviewed on Nov 04, 2017
    • ICICI Bank Personal Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      I have dropped the plan of taking the personal loan because of my personal reason. Customer service is fine one with the ICICI bank and I would like to go ahead with them. Rate of interest was around 15.5%.
      Was this review helpful? 0
      , gwalior
      Reviewed on Oct 30, 2017
    • ICICI Bank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from ICICI Bank and the customer support is excellent. The response is good and there are no hassles in the process for the loan. The interest rate was around 12% and the processing charges was normal too. The after loan service is good too.
      Was this review helpful? 0
      , gwalior
      Reviewed on Oct 16, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from ICICI bank, i did not take the loan as the rate of interest way high, i dropped the plan to get the personal loan from ICICI. When it comes to cusotmer service, it was good and they were in touch all the time.
      Was this review helpful? 0
      , gwalior
      Reviewed on Oct 12, 2017
    • ICICI Bank Personal Loan
      "Looking for better offer"
      0.5 3.0/5 "Satisfactory"
      At the time of loan request I didn't have pay slip to process with ICICI for the personal loan, currently I have all the documents with me,. Now I am interested to go head with them. But ICICI interest rate and charges are high, it would be great if they reduce.
      Was this review helpful? 0
      , gwalior
      Reviewed on Sep 30, 2017
    • ICICI Bank Personal Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      ICICI bank delivered a good service for the personal loan process. I got the personal loan without any issues with the bank. They responded well and provided a good customer service as well. Moreover the rate of interest is good and nominal.
      Was this review helpful? 0
      , gwalior
      Reviewed on Jul 05, 2017
    • ICICI Bank Personal Loan
      "Easy loan process!"
      0.5 4.0/5 "Great!"
      Due to unavoidable circumstances, I am unable to take the personal loan from ICICI bank. But the personal loan process was pretty good. Even they responded to me on the same day on making a loan request through online. I am really satisfied with their services.
      Was this review helpful? 0
      , gwalior
      Reviewed on Jun 02, 2016
    • ICICI Bank Personal Loan
      "Customer satisfaction"
      0.5 5.0/5 "Blown Away!"
      The initial process was very promising with ICICI Bank for the personal loan. They came to my place when ever its required, documentation was completed within four days. But after loan services was not very supportive. I have not got the loan kit. I have only received a SMS that they have sent it through local post. When I contacted the customer care they have asked me to go to the nearest branch and collect the same. The rate of interest was of 14.5%. It was not the same to what I was informed initially. The processing charges were less when compared with other banks.
      Was this review helpful? 0
      , gwalior
      Reviewed on May 23, 2016
    • HDFC Bank Personal Loan
      "Not satisfactory"
      0.5 1.0/5 "Really Bad"
      I am here to express my feeling of dissatisfaction , though I had taken a personal loan from HDFC Bank. They completed the process on time for the loan. The rate of interest was also normal. They also offered a reasonable processing charge. But the after loan process was not satisfactory at all. After paying two EMI, I fore closed the loan along with the penalty charges. I also received the fore closure letter. But I am still being charged an EMI for the loan. I contacted the customer care and they are not able to give me a proper answer for this.
      Was this review helpful? 0
      , gwalior
      Reviewed on May 13, 2016
    • ICICI Bank Personal Loan
      "Great"
      0.5 5.0/5 "Blown Away!"
      ICICI bank called me immediately when i applied for the personal loan but due to lack of documentation i was able the avail the loan. They were offering 17% interest rate and the processing fee offered was little high. Overall service is very good.
      Was this review helpful? 0
      , gwalior
      Reviewed on Apr 07, 2016
    • ICICI Bank Personal Loan
      "Wonderful"
      0.5 4.0/5 "Great!"
      By September I have applied for the personal loan with the ICICI bank. Rate of interest was around 14.5% and the processing charges are around 6500 Rupees and the loan amount got disbursed after a week of time because of delay in documents from my end.
      Was this review helpful? 1
      , gwalior
      Reviewed on Dec 17, 2015
    • HDFC Bank Personal Loan
      "Easy access!"
      0.5 4.0/5 "Great!"
      HDFC bank came on themselves and asked me to take a loan from them. As I am an central government employee, they offered me a better interest rate. When compared to other banks, the interest rate is normal. The personal loan norms are easy and convenient.
      Was this review helpful? 0
      , gwalior
      Reviewed on Dec 14, 2015
    • ICICI Bank Personal Loan
      "Good experience "
      0.5 4.0/5 "Great!"
      The experience was very good with ICICI Bank when I have taken a personal loan.The interest rate applied was around 13% in the initial stage and later they have changed it to 14%.I will recommend the service of ICICI Bank to others for getting the loan.
      Was this review helpful? 3
      , gwalior
      Reviewed on Dec 10, 2015
    • ICICI Bank Personal Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      I got the better offer while compare with the ICICI bank for the personal loan, also the EMI was around 3500 Rupees for the capital of one lakh Rupees at the tenure of 3 years of time. In the mean time I got the loan with the allahabad bank. Response is also very good with the ICICI bank.
      Was this review helpful? 2
      , gwalior
      Reviewed on Nov 25, 2015
    • ICICI Bank Personal Loan
      "Delayed process!"
      0.5 3.0/5 "Satisfactory"
      The follow up was bad from the ICICI bank. Since they didnâ??t process the cancelled cheque leaves and the documents properly, I had a EMI bounce in the first month. The loan amount was a delayed process and I got the loan amount disbursed in 2 months. I would suggest them to provide a proper contact numbers to the applicants.
      Was this review helpful? 0
      , gwalior
      Reviewed on Oct 15, 2015
    • ICICI Bank Personal Loan
      "Excellent offer"
      0.5 5.0/5 "Blown Away!"
      The loan offer that I got online from ICICI Bank was very good. The loan amount offered by Bank and the interest rate promised was as per my expectation. Unfortunately the application was not processed as I did not meet the criteria of the Bank. But I do recommend others to apply loan in ICICI Bank as the services ad response from Bank is very good.
      Was this review helpful? 0
      , gwalior
      Reviewed on Sep 22, 2015
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