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  • Indore Personal Loan

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  • With interest rates starting from just 10.99%, finding a personal loan in Indore is more convenient that it was ever before! The largest and most populous city in Madhya Pradesh, Indore is home to a large number of banks that offer personal loans at attractive interest rates, flexible repayment tenures, easy EMI options, paperless approval, and minimal documentation, thereby making it easy for you to meet your immediate financial needs.
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    We found 17 Indore 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
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Customer Reviews
    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    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
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
    Documents
    Perks
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    Fees & Charges
    Eligibility Criteria

    Indore is a primary city in the large state of Madhya Pradesh. It has a rich historic culture with many beautiful palaces and monuments. The city has a population of around 19.9 lakh. One can experience the culture of the city by visiting its busy bazaars and by enjoying the yummiest street food.

    The city is well-equipped with essentials. The banking industry in Indore is advanced and beneficial to a number of people in the city. One can choose banks or non-banking financial companies for his or her financial requirements. Whether you want a loan, a credit card, or a savings deposit, you can be assured that you will have excellent access to such products in the market at good rates.

    If you are in need of extra money to handle any of your personal needs, you can simply apply for a personal loan and repay it in equated monthly installments (EMIs). Indore has a number of top lenders that process and approve personal loan applications without causing any hassle to the borrower.

    Indore Personal Loan Interest RatesUpdated on 24 Oct 2019

    Indore 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 Loans offered by Various Lenders in Indore

    A few of the top lenders that offer personal loans in the city of Indore include:

    • Bank of Punjab
    • Federal Bank
    • UCO Bank
    • IndusInd Bank
    • Kotak Mahindra Bank
    • Oriental Bank of Commerce
    • State Bank of India (SBI)
    • City Union Bank Ltd
    • Citibank
    • Unit Trust of India
    • Indian Overseas Bank
    • ING Vysya Bank
    • Standard Chartered Bank
    • Dena Bank
    • Tata Capital
    • Andhra Bank
    • Canara Bank
    • IDBI Bank
    • Aditya Birla
    • Vijaya Bank
    • ICICI Bank
    • Axis Bank
    • HDFC Bank
    • Syndicate Bank
    • Punjab National Bank
    • Corporation Bank
    • South Indian Bank
    • Karnataka Bank

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

    You can procure a personal loan with the best interest rate by comparing and researching thoroughly. You will also need to prove your creditworthiness to your lender. For this, you will have to maintain a good credit score. A typical good credit score is anything above 750/900. Your lender may also check your job situation. If you have been shifting jobs on a frequent basis, the lender may not trust you to repay the loan on time. Therefore, before you apply for a personal loan, make sure you have been in a job for a reasonably long period. This will establish that you have a regular source of income and that you will be able to make your loan EMIs along with your other monthly expenditures. You should also fix your personal loan amount as per your financial situation. You should ensure that you do not borrow an extremely high amount as you should not have to struggle to pay your installment amounts. Struggling to make repayments can also lead to defaults of loans, which is very bad for your credit score.

    By following these tips, you can get an economical interest rate for your personal loan.

    Personal Loan Interest rates in Indore 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
    Tata Capital 11.99% - 19.50% (Fixed) Rs.0 One time fee Rs.20 lakh (Max) 1-6 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 1-year MCLR + SP + 3.00% to 1-year MCLR + SP + 8.00% Rs.1,000 to Rs.10,000 (2% of your loan amount) Rs.50,000 to Rs.10 lakh Up to 60 months
    State Bank of India 12.90% - 14.90% (Fixed) 1% (One time fee) Rs.24,000 - 15 lakh 5 Years
    Aditya Birla 14% to 26% p.a. Nil Rs.25,000 to Rs.15 lakh 6 to 36 months
    UCO Bank 11.35% to 11.60% (Fixed) 1% (Min. Rs.750) One time fee Rs.10 lakhs 5 years
    City Union Bank 9.75% to 12.50% p.a. Information not provided Up to Rs.5 lakh 1 year
    Allahabad Bank Information not provided 1.06% of loan amount Information not provided 1 to 5 years
    Yes Bank 14% (Fixed) Up to 2% (One time fee) Rs.20 lakh (Max) 1-5 Years
    Union Bank 14.4% (Floating) 0.5% (Min. Rs.500) One time fee Rs.5 lakhs Max. 1-5 years
    SBI 12.90% to 14.90% 1% (One time fee) Rs.24,000 to Rs.15 lakhs 5 years
    Standard Chartered 10.99% - 14.49% (Fixed) Rs.0 Rs.30 lakh (Max) 1-5 Years
    Capital First Up to 1.5% (One time fee*) 12%-18% (Fixed) Rs.15 lakhs 1-5 years
    Vijaya Bank 13.50% (Fixed) Nil Rs.10 lakhs 1-5 years
    HDBFS 13.99%-16.99% 1%-2% (One time fee) Rs.30 lakhs 1-5 years
    South Indian Bank 13% (Fixed) 0.50% (One time fee) Rs.3 lakhs 1-4 years
    TATA Capital 11.99%-19.50% Nil Rs.20 lakhs 1-6 years
    IndusInd Bank 11.99%-19% (Fixed) Up to Rs.3,000 (One time fee) Rs.25 lakhs 1-5 years
    Oriental Bank 10.85%-11.85% 0.5% (One time fee) Rs.50,000-Rs.10 lakhs 1-5 years
    HDFC Bank 10.99%-19.8% (Fixed) Up to 2.5% (One time fee) Rs.25 lakhs 1-5 years
    Fullerton 17.25% to 37% (Fixed) 1.5% to 6% (One time fee) Rs.15 lakhs 1-4 years
    Indian Bank Information not provided 0.51% of loan amount with a ceiling of Rs.510 5 to 7 times the gross salary of the loan applicant Up to 36 months
    Karur Vysya 13.35% to 15.85% 0.40% (One time fee) Rs.1 crore Max. 1-3 years
    Bank of India 13%-14% (Fixed) Rs.1,000 to Rs.10,000 (GST not included) Rs.10,000-Rs.5 lakhs 1-3 years
    Tamilnad Mercantile 14.30% to 16.30% (Floating) 1% (One time fee) Rs.2 lakhs Max. 1-5 years
    Dena Bank 13%-14% (Fixed) 1% (One time fee) Rs.15,000 to Rs.1 lakh 1-3 years
    IOB 13.65% (Fixed) 1.01% to 1.10% (One time fee) Rs.1 lakhs to Rs.15 lakhs 1-5 years
    BOM 12.75% (Fixed) 1% (Min. Rs.1,000) Rs.1.5 lakhs 1-3 years
    Canara Bank 12.75% (Floating) Rs.1,000 to Rs.5,000 (One time fee) Rs.3 lakhs 5 years
    Central Bank 11.4% (Floating) Rs.500 (One time fee) Rs.10 lakhs 4 years
    IDBI Bank 12.20% (Floating) 1% + G.S.T. (One time fee) Rs.50,000 to Rs.10 lakhs 1-5 years

    Salary Requirements to avail Personal Loans in Indore

    When you are applying for a personal loan in Indore, you need to meet certain eligibility criteria. These are the requirements:

    • The minimum age criterion is 21 years and the maximum age criterion is 65 years.
    • You should be earning a regular through a salaried job or a self-employed venture.
    • Your maximum loan amount can be Rs.50,000 to Rs.30 lakhs.
    • You will need to submit proof of residence, bank statement for the most recent 6 months, age proof, and address proof, Form 16 or Income Tax Returns, Income Tax Returns for the most recent 3 years, your photograph, and your signed application form.
    • Your monthly salary will have to be at least Rs.17,500.

    Indore Personal Loan FAQs

    1. How can I apply for a higher amount for my personal loan?

      You can raise your personal loan amount by clearing all your credit card bills and by selecting a longer loan period for up to 5 years.

    2. I am a self-employed applicant. Could you let me know about the documents that I need to submit?

      You will have to give your Income Tax returns with the calculation of your income for the most recent 3 years. You will also need to submit your balance sheet and profit and loss account that is CA certified or audited.

    3. Does BankBazaar have paperless options for personal loans in Indore?

      Yes, BankBazaar has collaborated with certain banks to provide you with convenient paperless options. Some of the institutions that offer paperless transactions include ICICI Bank, HDBFS, HDFC Bank, Fullerton, Oriental Bank, and more.

    4. Will I need to pay the processing fee more than once?

      This depends on the bank that you approach. Most banks charge a one-time fee for the processing fee.

    5. Will I have to make arrangements for a guarantor while applying for a personal loan?

      No, you do not require a guarantor for a personal loan application.

    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.

    Indore Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had applied personal loan with HDFC Bank through online. Their rate of interest is nominal as comparison to other banks. I had submitted my documents online as well as to their field executive. HDFC Bank customer care executive are very helpful and responsive too.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 16, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had applied personal loan from HDFC Bank online. After my application was submitted I did not hear any from them. I submitted my documents online and verification was also completed. Their rate of interest is nominal and customer service was also equally good.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 16, 2019
    • Fullerton Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I applied personal loan from Fullerton online. Their rate of interest is ok, it's nominal. I did not have salary slip so they had closed my application. I had submitted my documents online but I was not able to update bank statement, I tried many times.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 15, 2019
    • Fullerton Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Fullerton personal loan through Online .I have not availed this loan since dont have payslip at that time.I have got all the details about the loan process through the agent,I have submitted little document such as Id proof ,Pan card and Aadhaar card .I am satisfied with the service so far .
      Was this review helpful? 0
      , indore
      Reviewed on Oct 13, 2019
    • Fullerton Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have availed personal loan through Home Credit India Finance Private Ltd .I have got the loan amount on proper time ,I have got clear picture about the loan process through the agent.There was proper callback and follow up from bank end.The rate of interest and the processing fee was very high .The process was very smooth until i have got the loan.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 10, 2019
    • PaySense Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      The customer service is average and they did not provide proper information about the loan process and also its not easy to connect with them. The rate of interest is moderate. Paysense has taken around 1week to deliver the loan. The duration is 3years.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 10, 2019
    • PaySense Personal Loan
      "Better Loan Service"
      0.5 5.0/5 "Blown Away!"
      They have approved my very early and there is a good service regarding the loan. They have sanctioned my loan in 7 days and the given the interest rates was satisfied to me. There was a deduction of Rs. 3000 from my loan amount. Documentation process went very well.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 09, 2019
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had applied for HDFC Bank personal loan where it had been disbursed to my account in one week, rate of interest is nominal as per the market, documentation process was good, HDFC Bank service is very quick and responsive to the customer which I liked the most.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 04, 2019
    • Fullerton Personal Loan
      "Not Satisfactory "
      0.5 1.0/5 "Really Bad"
      I have not availed this Fullerton personal loan since there was no callback and response .I have submitted the required documents as well as uploaded documents.I have got all the required details about the loan process through the agent .I am not satisfied with the service .
      Was this review helpful? 0
      , indore
      Reviewed on Sep 29, 2019
    • HDFC Bank Personal Loan
      "Best Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since there was no requirement and i have submitted the required documents also.I have got a clear picture about the loan process and there was proper callback as well.I am satisfied with the service .
      Was this review helpful? 0
      , indore
      Reviewed on Sep 28, 2019
    • Fullerton Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had applied personal loan from Fullerton. They called me for verification and documentation but I was hospitalized at that time so I was not able to submit the documents. Their rate of interest is nominal, I was ok with the rate of interest.
      Was this review helpful? 0
      , indore
      Reviewed on Sep 25, 2019
    • HDFC Bank Personal Loan
      "Rate of interest should be reduced"
      0.5 5.0/5 "Blown Away!"
      There is a documentation issue from my end therefore I couldn't process my loan with Hdfc, the bank response is good but the rate of interest is higher it would be great if they provides 10 to 12% of interest per annum but HDFC is providing 17.12% of interest its not affordable.
      Was this review helpful? 1
      , indore
      Reviewed on Sep 15, 2019
    • HDFC Bank Personal Loan
      "Need to decrease charges"
      0.5 1.0/5 "Really Bad"
      I was applied for a personal loan with HDFC bank on a month before which was processed through an online. I received a call from bank on time the amount which was offered for the tenure period of 5 years. Since I got the loan amount from other bank. The rate of interest was high in this bank.
      Was this review helpful? 0
      , indore
      Reviewed on Sep 10, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for personal loan from HDFC Bank. I canceled the application as I had arranged the money from another source. I did not have to submit my documents. HDFC bank is providing a very good service. Their rate of interest is lower than most of the banks.
      Was this review helpful? 0
      , indore
      Reviewed on Sep 03, 2019
    • HDFC Bank Personal Loan
      "Better Loan"
      0.5 5.0/5 "Blown Away!"
      I never interacted with the HDFC Customer care. Because i have a salary account from HDFC and till now i haven't faced any problem thats the reason i opted the loan from HDFC. I'm satisfied with the rate of interest. At the time of verification and documentation process, i was not at the location since i was in out of station. Due to this the loan has been rejected from the Bank end.
      Was this review helpful? 0
      , indore
      Reviewed on Sep 01, 2019
    • Axis Bank Personal Loan
      "Not satisfactory"
      0.5 2.0/5 "Expected more"
      I took a personal loan with Axis Bank for 80,000 rupees and which is ongoing. The loan duration is 5 years. They have charged me a processing fee and am planning to foreclose the loan in 2 to 3months. The loan process was very quicker but not satisfied with ROI.
      Was this review helpful? 2
      , indore
      Reviewed on Aug 21, 2019
    • Axis Bank Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I have taken personal loan with Axis Bank, their rate of interest is very higher like 22% or 24% which am not satisfied so I have foreclosed the loan after 2 to 3 months. The loan process was good. There was a processing fee. The loan amount was 3.42L and the loan duration is 5 years.
      Was this review helpful? 2
      , indore
      Reviewed on Aug 21, 2019
    • HDFC Bank Personal Loan
      "Best Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC personal loan through Online .I have got all the details very clearly about the loan process.There was no issues wit rate of interest and the processing fee .I have submitted the required documents .Since there was no requirement not taken the loan.
      Was this review helpful? 0
      , indore
      Reviewed on Aug 18, 2019
    • HDFC Bank Personal Loan
      "Good choice for loan"
      0.5 5.0/5 "Blown Away!"
      My need was fulfilled hence I didn't take the personal loan from HDFC Bank, however the bank response is very prompt and they contacted me and approached me in the smooth manner for the loan inquiry and they ready to offers best interest in the market but I am not interested to proceed.
      Was this review helpful? 2
      , indore
      Reviewed on Aug 14, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .I have got a clear details about the loan process through the agent .There was no difficulties with rate of interest and the processing fee.I have got the loan amount on time .The process was very smooth while submitting documents.
      Was this review helpful? 0
      , indore
      Reviewed on Aug 09, 2019
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