• Indore Personal Loan

    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 19 Indore 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
    Ad 100% PAPERLESS APPROVAL
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    Customer Reviews
    11.00% - 16.75% Fixed
    Up to 3.50% One time fee
    Up to Rs.25L
    Up to 5 Years
    Ad 100% PAPERLESS APPROVAL
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    Customer Reviews
    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
    What you'll love
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    Fees & Charges
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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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    Customer Reviews
    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
    What you'll love
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Fees & Charges
    Eligibility Criteria
    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
    What you'll love
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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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    Customer Reviews
    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
    What you'll love
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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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    17.00% - 26.00% Fixed
    2.00% One time fee
    Rs.2L - Rs.20L
    0.5 - 4 Years
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    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 23 Jun 2021

    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 2021

    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.

        

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    Indore Personal Loan Reviews

    • Axis Bank
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      Axis Bank has offered a personal loan and the loan amount was Rs. 50,000 and the rate of interest was normal. I am paying EMI 4500 including all kind of Tax with the period of 1 year. Pre closure charges and part payment options are available and its a instant loan approval.
      Was this review helpful? 136
      , indore
      Reviewed on Mar 20, 2020
    • Bajaj Finserv
      Bajaj Finserv
      "AMC for personal loan"
      0.5 1.0/5 "Really Bad"
      Which bank or NBFC asks for AMC apart from interest on loan. Bajaj finserv is the only organisation who keeps calling customers on Sunday for.promotional offers.. I receive 2-3 calls from Bajaj everyday and they can't remove my no. from their calling database even after requesting so many times. Worst part is no one is ready to solve my problem and only interested in selling new product. My RM, pushpendra from Indore has not been able to help me since last 2 months on reversal of charges.. I will soon change my home loan and top up loan to some organisation who doesn't asks for AMC on loan.
      Was this review helpful? 16
      , indore
      Reviewed on Mar 16, 2020
    • Tata capital
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Tata Capital Ltd personal loan through online .The rate of interest was very high hence not taken this loan.There was proper callback and follow up received from Tata capital.The rate of interest has to be reduced this was my suggestion.
      Was this review helpful? 0
      , indore
      Reviewed on Feb 18, 2020
    • ICICI Bank
      "Good bank and app "
      0.5 4.5/5 "Excellent!"
      ICICI bank has offered an instant pre approved personal loan through online. I got a loan within 5 minutes. The amount was sufficient with tenure period of 1 year but I requested for tenure either 2 or 3 months but there is no option for that. Rate of interest is nominal. There is no option of pre closure. Their service is good.
      Was this review helpful? 0
      , indore
      Reviewed on Jan 28, 2020
    • PaySense
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Paysense Services India Private Limited personal loan through Online .I have not faced any difficulties so far .The rate of interest and the processing fee was nominal ,The agent shared all the relevant details about the loan process.There was proper callback and follow up from paysense as well.
      Was this review helpful? 1
      , indore
      Reviewed on Jan 11, 2020
    • PaySense
      "Most convenient services "
      0.5 5.0/5 "Blown Away!"
      HOME CREDIT is a convenient services , because they helped me a lot. I have taken a personal loan, the loan amount was Rs.50k and the rate of interest was not sure. I am paying EMI 2815 for the tenure period of12 months. Customer service was good and i receive the loan it took 2-3 days.
      Was this review helpful? 0
      , indore
      Reviewed on Jan 08, 2020
    • PaySense
      "Its is good"
      0.5 4.0/5 "Great!"
      HOME CREDIT is giving a convenient services and they helped me a lot. I have taken a personal loan, the loan amount was Rs.50k and the rate of interest was not sure. I am paying EMI of Rs.2815 for the tenure period of12 months. Customer service was good and i received the loan in 2-3 days.
      Was this review helpful? 0
      , indore
      Reviewed on Jan 08, 2020
    • Kotak
      "Best service"
      0.5 4.0/5 "Great!"
      I applied for kotak personal loan through online and I have uploaded the documents. The rate of interest while applying was around 13% but I received the call for documentation i uploaded through online. So, I am not interested to continue further. The loan amount was Rs. 5,10,000 and the tenure was 5 years and i am paying EMI 11069. I received this loan within 15 days and there is no preclosure charges.
      Was this review helpful? 0
      , indore
      Reviewed on Jan 07, 2020
    • Kotak
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Home credit India Finance Private Limited personal loan and availed the loan.The rate of interest and the processing fee was high other than that there was no difficulties faced .There was proper notification about this loan as well,without any hassles got this loan.
      Was this review helpful? 0
      , indore
      Reviewed on Jan 06, 2020
    • Bajaj Finserv
      "Average Service"
      0.5 1.0/5 "Really Bad"
      I have availed a personal loan through Bajaj Finserv since they offered this loan. Still this loan is active and need to pay 10 EMIs. The rate of interest and the processing fee was very high .The loan amount got sanctioned on time .The rate of interest and the processing fee was very high it was 18%.I am trying to close this loan but not yet closed so far.
      Was this review helpful? 4
      , indore
      Reviewed on Jan 06, 2020
    • Bajaj Finserv
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Home credit India Finance Private Limited personal .loan .The rate of interest and the processing fee was very high other than that there was no difficulties .The agent shared all the information about the loan process very clearly.The loan got sanctioned on time and i am satisfied with the service so far.
      Was this review helpful? 0
      , indore
      Reviewed on Jan 06, 2020
    • Fullerton
      "Average Service"
      0.5 2.0/5 "Expected more"
      I have taken personal loan directly through Fullerton .The rate of interest and the processing fee was high since requirement was there taken this loan .This loan is still active and paying the premium through online .i have availed loan amount of 1,60,000 for the tenure of 5 years.This loan was sanctioned on time as well.According to me the service was quite average.
      Was this review helpful? 2
      , indore
      Reviewed on Dec 20, 2019
    • HDB Financial Services
      "Average Service"
      0.5 2.0/5 "Expected more"
      I have taken personal loan directly through HDB Financial services.The rate of interest and the processing fee was high since had requirement taken this loan .This loan is still active and paying the premium through online .i have availed loan amount of 2.8lakhs for the tenure of 5 years.This loan was sanctioned on time as well.According to me the service was average.
      Was this review helpful? 4
      , indore
      Reviewed on Dec 20, 2019
    • Fullerton
      "Eligibility criteria should be informed earlier to customer"
      0.5 2.5/5 "Just OK"
      I had applied the personal loan with Fullerton as per my eligibility but later it was not processed due to the age factor, they told me that I'm not a eligible for taking the loan. Nothing special reason for choosing the loan from Fullerton. Their rate of interest is very high as i compared with various financial institution.
      Was this review helpful? 0
      , indore
      Reviewed on Nov 19, 2019
    • HDFC Bank
      "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
      "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
      "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
      "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
      "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
      "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
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