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  • Jamshedpur Personal Loan

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  • One of the industrial hubs in Jharkhand, Jamshedpur is home to several banks which provide personal loans for interest rates as low as 10.99%. Jamshedpur houses many top banks such as ICICI Bank, Citibank, etc. that offer personal loans at low interest rates and flexible repayment tenures. The documentation processes are hassle-free and eligibility criteria are not too stringent,
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    We found 17 Jamshedpur 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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    10.99% - 18.99% 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
    12.99% - 19.75% 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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    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    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
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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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    Eligibility Criteria

    Jamshedpur is an extremely industrialized metropolis in the state of Jharkhand, known for its stupendous caliber to grow and develop.It is proudly addressed as India's first planned, cosmopolitan industrial urban township.

    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 Jamshedpur 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

    Jamshedpur Personal Loan Interest RatesUpdated on 16 Oct 2019

    Jamshedpur 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 Jamshedpur

    There are a number of leading banks and NBFCs which offer personal loans to customers who reside in Jamshedpur to meet their needs and requirements. In addition to personal loans, banking institutions offer other services such as asset management, core banking facilities, alternate forms of commercial lending, and investment advice

    Personal Loans offered by various banks in Jamshedpur

    Some of the prominent financial institutions that are located in Jamshedpur that offer personal loans at attractive interest rates are listed below:

    • HDFC Bank
    • Citibank
    • ICICI Bank
    • Kotak Mahindra
    • Standard Chartered

    How to Get a Personal Loan with the Lowest Interest Rate in Jamshedpur

    There are a few factors that play an important role in securing your personal loan in Jamshedpur. The way you draft your application letter plays a vital role in having a personal loan sanctioned as well as the interest rate offered on the loan amount. The interest rate that is offered will depend entirely on the lender who sanctions the loan to you. Though a personal loan is easy to apply for, you should be cautious when applying for one. A good credit score plays a vital role in applying for a loan. A credit score of 750 and above is considered as a good credit score to have and this plays a big role in getting your application for a personal loan approved. The interest rate is also dependent on this criteria. A higher credit score will fetch a lower interest rate and vice-versa. If you have a bad credit score, you should do what you can to increase it. Paying off any unpaid premiums or loans is a good way to increase your score.

    You should also make sure that you do an ample amount of research before you apply for a loan amount with a bank. You have to have a clear idea about the banking institution that you want to apply for a loan to as well as the amount that you need to borrow from the bank. If you end up borrowing an amount that exceeds the amount that you really require to meet your needs, you will end up paying an extra amount to the banking institution as interest. If you borrow an amount that falls short of meeting your needs, you might end up applying for another loan amount. This can become a hassle as managing two loans can be quite risky. You could end up missing out on a payment which would lead to a drastic drop in your credit score.

    Personal Loan Interest Rates in Jamshedpur 2018

    There are a number of major public and private sector banking institutions that offer personal loans to the residents of Jamshedpur. Listed below are some of the banks in Jamshedpur and their interest rates:

    Bank Processing Fee Interest Rate Loan Amount Tenure
    Citibank 1% to 2.5% 11.49%-15.99% (Fixed) Rs.30 lakhs 1-5 years
    Capital First Up to 1.5% (OTF*) 12%-18% (Fixed) Rs.15 lakhs 1-5 years
    Standard Chartered Nil 10.99%-14.49% Rs.30 lakhs 1-5 years
    HDBFS 1%-2% (OTF) 13.99%-16.99% Rs.30 lakhs 1-5 years
    TATA Capital Nil 11.99%-19.50% Rs.20 lakhs 1-6 years
    ICICI Bank 2.25% (Min. Rs.1,149) 11%-17.99% Rs.20 lakhs 1-5 years
    IndusInd Bank Upto Rs.3,000 (OTF) 11.99%-19% (Fixed) Rs.25 lakhs 1-5 years
    Oriental Bank 0.5% (OTF) 10.85%-11.85% Rs.50,000-Rs.10 lakhs 1-5 years
    HDFC Bank Up to 2.5% (OTF) 10.99%-19.8% (Fixed) Rs.25 lakhs 1-5 years
    Aditya Birla Nil 11.5% to 13.25% (Fixed) Rs.30 lakhs 1-5 years
    Fullerton 1.5% to 6% (OTF) 17.25% to 37% (Fixed) Rs.15 lakhs 1-4 years
    HDBFS Business Loan 2% (OTF) 15.95%-18.95% (Fixed) Rs.20 lakhs 1-3 years
    Kotak Mahindra Up to 2% 11.49% - 20.15%Fixed Rs.15 lakhs 1-5 years
    Allahabad Bank 1.22% (Min. Rs.1,228) 13.10% (Fixed) Rs.50,000 to Rs.7.5 lakhs 1-5 years
    Bank of India Rs.1,000 to Rs.10,000 (GST not included) 13%-14% (Fixed) Rs.10,000-Rs.5 lakhs 1-3 years
    Bank of Baroda 1% (Min. Rs.1,000) OTF 11.35%-14.35% (Fixed) Rs.20,000 to Rs.2 lakhs 4 years
    BOM 1% (Min. Rs.1,000) 12.75% (Fixed) Rs.1.5 lakhs 1-3 years
    Canara Bank Rs.1,000 to Rs.5,000 (OTF) 12.75% (Floating) Rs.3 lakhs 5 years
    Dena Bank 1% (OTF) 13%-14% (Fixed) Rs.15,000 to Rs.1 lakh 1-3 years
    Central Bank Rs.500 (OTF) 11.4% (Floating) Rs.10 lakhs 4 years
    Indian Bank Rs.508 to 0.508% (OTF) 12.65% to 13.65% (Floating) Rs.50,000 Max. 3 years
    IDBI Bank 1%+S.T. (OTF) 12.20% (Floating) Rs.50,000 to Rs.10 lakhs 1-5 years
    IOB 1.01% to 1.10% (OTF) 13.65% (Fixed) Rs.1 lakhs to Rs.15 lakhs 1-5 years
    South Indian Bank 0.50% (OTF) 13% (Fixed) Rs.3 lakhs 1-4 years
    Karur Vysya 0.4% (OTF) 13.35% to 15.85% Rs.1 crore Max. 1-3 years
    SBI 1% (OTF) 12.90% to 14.90% Rs.24,000 to Rs.15 lakhs 5 years
    Vijaya Bank Nil 13.50% (Fixed) Rs.10 lakhs 1-5 years
    Tamilnad Mercantile 1% (OTF) 14.30% to 16.30% (Floating) Rs.2 lakhs Max. 1-5 years
    Union Bank 0.5% (Min. Rs.500) OTF 14.4% (Floating) Rs.5 lakhs Max. 1-5 years
    UCO Bank 1% (Min. Rs.750) OTF 11.35% to 11.60% (Fixed) Rs.10 lakhs 5 years
    Yes Bank Up to 2% (OTF) 14% (Fixed) Rs.20 lakhs 1-5 years

    *OTF – One Time Fee

    Salary Requirements to avail Personal Loans in Jamshedpur

    There are a few factors that a banking institution has to consider when they receive a loan application. One criteria that they look for is your capability to repay the loan amount that you have borrowed. The salary requirements needed to repay a loan amount has been listed below:

    • The age of the applicant should be anywhere between 21 years and 60 years.
    • The applicant should have resided in Ranchi for a minimum of 1 year.
    • A salaried individual should have a minimum monthly income of Rs.15,000. This minimum requirement will vary from one bank to another.
    • Applicants will be required to submit a couple of documents like bank statements, address proof, identity proof, etc.
    • The applicant should is required to have a minimum work experience of 2 years.

    Jamshedpur Personal Loan FAQs

    1. Are there any additional charges that are associated with a personal loan?
    2. Yes, there are additional charges. Most banks charge from 2% to 2.5% of the total amount that you wish to borrow. The fee is deducted from the amount that has to be disbursed to you.

    3. How long will the bank take to approve my application for a personal loan?
    4. The time taken to approve and sanction a personal loan will vary from bank to bank. While some banks approve loan applications within 48 hours, there are some banks that take at least a week. Usually a loan application is approved between two and seven working days.

    5. How do I repay my personal loan?
    6. The repayment of a personal loan can be done in the form of Equated Monthly Instalments (EMIs) via post-dated cheques in favour of the bank from which you have availed the loan. You could even link your debit account to your loan if you have taken a loan from a bank where you have a savings bank account. The amount that you need to pay as EMI will automatically get deducted from your savings account.

    7. Can I get the balance transfer facility in my personal loan?
    8. It depends on the bank. There are some banks that offer the balance transfer facility if the customer has made at least 12 EMI payments. You can check with your bank before you apply for the loan.

    9. Can I receive Tax Benefits on my personal loan?
    10. Unless the personal loan is used for a home renovation project, tax benefits Tax benefits are not associated with personal loans. You can, however, avail tax benefits under Section 24 of the Income Tax Act on the interest that is paid on the loan but not on the principal amount that is paid.

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

        

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    Jamshedpur Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Recommendable Bank"
      0.5 3.0/5 "Satisfactory"
      Entire loan process till now not completed. I haven't received any call from HDFC people. There is a good option with HDFC hence i went with them. All bank their own criteria to fulfill their norms and i don't have any special option with HDFC. Nobody called me to collect the documents.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Oct 05, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had applied for personal loan from HDFC Bank online. I submitted my document online. Their rate of interest was very high in comparison to other banks. So I had asked them to close my application. Lastly, I have arranged funds through alternative resource.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Oct 04, 2019
    • HDFC Bank Personal Loan
      "Good Personal loan"
      0.5 4.0/5 "Great!"
      I have taken so many loans from HDFC since last 10 years and i appreciate their service so i thought to go with the same bank for my personal loan as well. Their interest rates are high because they offered me 14%. Since my requirement got postponed, i have canceled the loan from my end.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Sep 30, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I had applied for personal loan from HDFC Bank. I submitted all my documents online and one of their executives had done the verification. After the application was submitted one has contacted me. When I checked the status of the application it's still showing pending.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Sep 18, 2019
    • HDFC Bank Personal Loan
      "Need to decrease charges"
      0.5 4.0/5 "Great!"
      I received a call from HDFC bank once which was applied through an online for a personal loan on 2 months before. With the sufficient amount offered for me for the duration of 1 year. Only the rate of interest for 13% which was high. I received a loan amount from the bank on time.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Sep 06, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online The rate of interest and the processing fee was very high.I have got follow up properly and callback from bank end.I have submitted the required documents also .I have got all the information about the loan process .Due to high rate of interest dropped the plan of availing this loan.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Sep 06, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 3.0/5 "Satisfactory"
      I have applied my personal with HDFC BANK for 4L but they have sanctioned me around 3L. The rate of interest is little bit higher and there was a processing fee of Rs.3000 along with that they have included an insurance fee of RS.3500. In the month of June, my loan got sanctioned and have foreclosed my 2 PL with HDFC BANK and have raised NOC which was not provided till now, they told me it will be send within 15days to my home address.
      Was this review helpful? 1
      , jamshedpur
      Reviewed on Aug 21, 2019
    • HDFC Bank Personal Loan
      "Need to be decrease charges "
      0.5 4.0/5 "Great!"
      I had applied for personal loan from HDFC Bank on one month before which was processed through an online. At an initial process was smooth and good. They have sanctioned the loan on time. The rate of interest for 12% informed at first time later they have increased to 17% which was unhappy and processing fee for 4000 rupees.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Aug 11, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I had selected my personal loan from HDFC BANK since the process with them is pretty good. The experience had been really nice where the documents where collected on the promised time and they made the process much easy and quick. The loan amount has been sufficient and the interest rate with them was okay. The processing fee has also been nominal.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Apr 17, 2019
    • HDFC Bank Personal Loan
      "Good service "
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with HDFC BANK . Loan amount i applied was 4.1 lakh but i did not got the same amount . There is no hidden charges . The tenure period is 5 year .The whole loan process was easy and super fast. It was a super fat loan experience. Overall it was a very good loan experience
      Was this review helpful? 1
      , jamshedpur
      Reviewed on Apr 06, 2019
    • HDFC Bank Personal Loan
      "Interest rate should be economic"
      0.5 5.0/5 "Blown Away!"
      I felt the interest is higher than other competitor, however the documentation happened on time. The bank have taken the two days of time after submitting the papers. I took the amount of Rs. 50,000 for the tenure of 2 years. I am fine the bank process.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Feb 11, 2019
    • HDFC Bank Personal Loan
      "High on ROI and charges"
      0.5 3.5/5 "Pretty good"
      It was a good experience with HDFC Bank for the personal loan. The sanction process took around three days and the disbursement took another three days. The rate of interest is high, it is around 17% or 18% and the processing fee is high as well.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Feb 08, 2019
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The experience with this loan was quite and i had taken this loan for a medical purpose. The loan amount has been fine but the interest rate with them has been quite high when compared with the market rate. The charges which they had made has also been high and the customer support response has been okay.
      Was this review helpful? 3
      , jamshedpur
      Reviewed on Jan 21, 2019
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan a while back and it has been still running. The process has been simple and the loan amount has been good as expected, the interest rate with them has been nominal when compared with the other banks. They did not made any sort of extra charges so far.
      Was this review helpful? 5
      , jamshedpur
      Reviewed on Dec 20, 2018
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      The experience with this loan has been quite good and i had closed this loan as well. The loan amount has been sufficient and the interest rate with them has been quite nominal. There has not been any sort of charges which they had made additionally so far.
      Was this review helpful? 1
      , jamshedpur
      Reviewed on Dec 20, 2018
    • Fullerton Personal Loan
      "Average Service"
      0.5 3.5/5 "Pretty good"
      The experience with this loan has been quite good and the process has been quite simple. The loan amount has been sufficient and the interest rate with them has also been nominal when compared with the market rate. There has been some processing fee and other than that there has not been any other charges.
      Was this review helpful? 3
      , jamshedpur
      Reviewed on Dec 20, 2018
    • Fullerton Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with FULLERTON .The process was very good but their processing fee was very high.The loan amount was 1,54,000 and the interest rate was satisfactory .The tenure period was 5 years. I had a smooth and hassle free experience but i faced tediousness in documentation part. They have sanctioned loan within the committed time.
      Was this review helpful? 1
      , jamshedpur
      Reviewed on Aug 09, 2018
    • Fullerton Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting this loan has been very smooth and easy and there has not been any issues faced with them. The loan amount which they had provided me had been satisfactory but the interest rate with them has been quite high comparatively. There has not been any issues faced with the services offered by them.
      Was this review helpful? 1
      , jamshedpur
      Reviewed on Jun 29, 2018
    • ICICI Bank Personal Loan
      "Excellent Banking Services"
      0.5 5.0/5 "Blown Away!"
      Everything is fine with ICICI personal loan. I'm happy to say that the documentation process was smoothly. I have taken this loan 2 months ago. The interest rates are nominal however they are charging 11.25% as interest rate. The Processing fee is constant for the employee who is working in ICICI with any amount. They provide the loan on time.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jun 22, 2018
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      Customer service is good one with the ICICI bank for the personal loan. Rate of interest was around 16.99% and the response is better one with them. It took around nineteen days of time to get the loan amount from the date, when I have applied.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jan 18, 2018
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