• Gwalior Personal Loan

    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 19 Gwalior 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
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    11.00% - 16.75% Fixed
    Up to 3.50% One time fee
    Up to Rs.5L
    Up to 5 Years
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    15.00% - 21.00% Fixed
    3.00% One time fee
    Rs.1L - Rs.3L
    Up to 3 Years
    100% PAPERLESS APPROVAL
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    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
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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 a 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 Sep 2022

    Gwalior Personal Loan Details
    Interest Rate (Monthly reducing balance) 9.99% - 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 Overview

    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.

    • HDFC Bank
    • Kotak Mahindra Bank
    • Citibank
    • Axis Bank
    • Aditya Birla
    • Fullerton
    • Tata Capital
    • Standard Chartered Bank

    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 2022

    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

    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.

    FAQs on Gwalior Personal Loan

    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.

        

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    Gwalior Personal Loan Reviews

    • HDFC Bank
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      I have applied for HDFC Bank personal loan through Online .I have not taken this loan since got the amount from some other source.The process was more ,I have not submitted any of my documents .The agent shared all the details about the loan process but i am not satisfied with the service.
      Was this review helpful? 0
      , gwalior
      Reviewed on Nov 30, 2019
    • HDFC Bank
      HDFC Bank
      "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
      "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
      "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
      "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
    • HDFC Bank
      "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
    • HDFC Bank
      "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
    • HDFC Bank
      "It is great...."
      0.5 4.0/5 "Great!"
      Fair experience with HDFC bank and the one who interacted me over the phone was good and treated me well. Actually there was some issue in documentation as I was unable to proceed with them for a personal loan. I am infact staying in permanent address but HDFC bank was asking for a local address proof, which I could not provide. Suggesting the bank to accept the document that customer have with them.
      Was this review helpful? 0
      , gwalior
      Reviewed on Aug 04, 2015
    • HDFC Bank
      "Good"
      0.5 4.0/5 "Great!"
      I could not take my personal loan with HDFC Bank as I got transfered to another location which is not my home town. The services was good. The executive gave me all the information I needed. They had a high rate of interest and processing fee. The fee was of 3%.
      Was this review helpful? 0
      , gwalior
      Reviewed on Jul 11, 2015
    • SBI
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      SBI bank provided me 9 lakhs loan amount with the very less documentation. They disbursed the loan within 1 week without any processing fee. Interest rate offered is 13% only. Very much satisfied with the bank and the service provided.
      Was this review helpful? 3
      , gwalior
      Reviewed on Jun 08, 2015
    • Axis Bank
      "Burst banking. Bank employee lack in coordination."
      0.5 0.5/5 "Unacceptable"
      Bank employee make no coordination with other branch office. Delay to delay . Nobody listen to customers even Loan Center Head after complaint to him, he has entered in his cabin. Processing couldn't complete in even 6 days. I suggest pls open ur a/c in other bank.
      Was this review helpful? 2
      , gwalior
      Reviewed on Apr 15, 2015
    • HDFC Bank
      "Review number: 15104"
      0.5 5.0/5 "Blown Away!"
      hdfc bank is best in his work, they did everything sharply and frequently, always ready for support, better then any one.
      Was this review helpful? 0
      , gwalior
      Reviewed on Jun 13, 2013
    • HDFC Bank
      "Review number: 2140"
      0.5 4.0/5 "Great!"
      very courtious,very good and promt approval
      Was this review helpful? 1
      , gwalior
      Reviewed on Aug 10, 2012
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