Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 32 Ludhiana Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    Up to 2%
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    13% - 21% Fixed
    Up to 2%
    Upto 25L
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.65% - 11.65% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time : Within 30 minutes
    Guarantor Required Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
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  • Ludhiana Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "ONE STOP SOLUTION"
      0.5 4.5/5 "Excellent!"
      In one platform we could see most of comparison on different banking products, When I was browsing for the loan I came know about Bank Bazaar. Then I filled the application for loan, I got good reply. I am using online website its easy to navigate the information.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Sep 16, 2017
    • ICICI Bank Personal Loan
      "Its Better"
      0.5 4.5/5 "Excellent!"
      I got the funds from other source therefore I didn't take any loan from ICICI, but from the bank end, they have coordinated well with me, they called me and confirmed my requirements as well but I denied to process. ICICI rate of interest is nominal.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Sep 16, 2017
    • Bank Bazaar Personal Loan
      "Good Website"
      0.5 4.0/5 "Great!"
      Basically Bank Bazaar gave me good response, when I left my request for the personal loan. I got instant reply and they provided bank information to reach them for loan process and they forwarded my loan application to the bank. I am happy about it.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Sep 04, 2017
    • HDFC Bank Personal Loan
      "Good product"
      0.5 5.0/5 "Blown Away!"
      HDFC staffs are very helpful they gave me proper updates on my loan application. When I had some issue,they helped me to resolve it and also they were coordinated well on the documentation process. I am happy with service and their support on process.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Sep 04, 2017
    • ICICI Bank Personal Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      I would say icici Bank personal loan process is not good. They are not treating their customers well . They are not very good in customer services and they are not doing well in all the aspects right from account opening till transaction . I have informed them clearly that my salary is around 25000 and some amount I receive it in cash, bu the bank does not except that, so I dont like this bank
      Was this review helpful? 0
      , ludhiana
      Reviewed on Aug 30, 2017
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is really prompt.I came to know about the site through by my brother he use to receive emails. It was an easy process to just register I have the banks to contact me and get a loan through at ease. The website is very helpful as one can choose the best bank as per the eligibility. .The website is quite good to access without any hassles.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Aug 10, 2017
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I approached ICICI bank for the personal loan. I received proper response from the bank end for my personal loan application.But they said I need to maintain of 50000 as a minimum balance in the account then they can process the loan, Later I dropped the plan of opting the loan from them, I had an idea of taking the loan amount of 5.75
      Was this review helpful? 0
      , ludhiana
      Reviewed on Aug 10, 2017
    • Bank Bazaar Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      IT WAS AN EXCELLENT EXPERIENCE WITH BANK BAZAAR. I AM SO HAPPY I ALWAYS, GET IN TOUCH WITH BANK BAZAAR FOR MANY YEARS. I THINK ITS A GOOD PLATFORM TO TAKE ANY LOAN THIS WEB SITE IS GUD TO US . ITS AN EASY PROCESS TOO, SO I THINK ITS A GOOD CHOICE FOR ME.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Aug 03, 2017
    • IndusInd Bank Personal Loan
      "Good deal and services"
      0.5 5.0/5 "Blown Away!"
      Indusind Bank was willing to offer me a personal loan, though I am not a existing customer. I simply had to take my papers and submit it at the bank and the process was on. I got the loan on time with the decent interest rate and the processing fee was nominal. I am happy that the bank offered me a loan with the same paper work when no other bank did.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Jul 03, 2017
    • HDFC Bank Personal Loan
      "Easy and quick process"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has been really good in the personal loan process. I visited the bank and submitted my documents and the I got the loan within a week. The process was easy and the disbursement was as needed. The interest rate was around 11.99% and the processing charges are good.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Jul 03, 2017
    • Bank Bazaar Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar was excellent, they were very much supportive all through the process. The customer services has been very clear in what they convey and the follow up is done from time to time. It was a hassle free experience overall.
      Was this review helpful? 0
      , ludhiana
      Reviewed on May 29, 2017
    • ICICI Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      The services at ICICI Bank has been good for the personal loan. I contacted them on time and the process was on. I could not proceed ahead due to my own reasons. The interest rate and charges was normal and the deal was overall good. They followed ups were very good as well.
      Was this review helpful? 0
      , ludhiana
      Reviewed on May 29, 2017
    • Bank Bazaar Personal Loan
      "Good service if loan approved"
      0.5 3.5/5 "Pretty good"
      Bankbazaar team is very supportive when it comes to work. I love the quickness of team. My loan got accepted there would be a party with the customer care. Good job done I never faced any issues with them, it is satisfactory service. I could see multiple options on the website.
      Was this review helpful? 0
      , ludhiana
      Reviewed on May 12, 2017
    • Bank Bazaar Personal Loan
      "Quick Response"
      0.5 4.5/5 "Excellent!"
      I had received a quick response from bankbazaar. I approached bankbazaar for the financial assistance, they had supported me a lot and suggested me the bank as well based on my requirement. I felt I was able to save my time because there is no need to visit the bank for the loan. Bankbazaar itself forwarded my loan application to the bank.
      Was this review helpful? 0
      , ludhiana
      Reviewed on May 04, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I got good response from ICICI bank when I applied for a personal loan. The reason for I dropped my plan is they were asking me to produce last three month payslips, as I recently changed my company I could not produce such documents hence I closed my application.
      Was this review helpful? 0
      , ludhiana
      Reviewed on May 04, 2017
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 3.0/5 "Satisfactory"
      Bank bazaar response is very good, because they gave me a call within 2 to 3 hours after giving all my details through their bank bazaar web portal. Bank bazaar web site is easy to use and customer friendly. The easiest way to find the financial products in the market, which gives with the best service.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Apr 23, 2017
    • Fullerton Personal Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      The response and the follow up was good with Fullerton, but I haven' got the loan due to some personal reasons. The rate of interest and other charges were really high with Fullerton. It would be great, if they decrease the rate of interest and other charges in future.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Apr 23, 2017
    • Bajaj Finserv Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I have taken personal loan with Bajaj Finserv on last year, they done the fast process within 10 days they realized the amount. I had taken the amount of Rs. 3.9 lakhs with the interest rate around 12%, with the tenure of five years, I am happy with pre and post process of Bajaj service.
      Was this review helpful? 3
      , ludhiana
      Reviewed on Apr 04, 2017
    • Capital First Personal Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      The service provided was good. Capital First took around 2 days to complete the process.The interest rate applied was around 16% for the personal loan.The document required was average .The charges for example processing fee deducted was around 2700 Rs for the personal loan with Capital first.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Apr 03, 2017
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I am very much satisfied with Bankbazaar. The web portal is easy to navigate and it has a lot of financial information. I received a quick response from the bankbazaar when I submitted my application also I got the proper information on my loan application overall satisfied.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Apr 03, 2017
    Common Loader Icon
    Ludhiana Personal Loan is Rated as "Great!" by 167 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Ludhiana Personal Loan

    Ludhiana, located in the Ludhiana district of Punjab, is the state’s largest city based on population.Ludhiana is a component of the ‘Eastern Industrial Corridor’ that joins quite a few cities from Punjab straight to West Bengal This ensures that industrial growth is enhanced by quick transport of freight and goods.The World Bank held Ludhiana as the Indian city having the most favorable business atmosphere in 2009

    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.


    You’re probably eligible for an Ludhiana Personal Loan if you are

    01
    02
    03
    04
    Ludhiana Personal Loan Minimum Age

    At least 21 years old

    Ludhiana Personal Loan Maximum Age

    Less than 65 years old

    Ludhiana Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Ludhiana Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Ludhiana Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Ludhiana Personal Loan Minimum Salary

    Minimum income required
    Rs.17,500 per month

    Ludhiana Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 50K to Rs. 30 lakhs

    Ludhiana Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Ludhiana Personal Loan amount by these steps

    01
    02
    Ludhiana Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Ludhiana

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Ludhiana 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

    Ludhiana Personal Loan Interest RatesUpdated on 24 Sep 2017

    Ludhiana 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
    Apply for Personal Loan

    Personal Loan in Ludhiana

    Personal loans in Ludhiana are offered by some of the top banks and NBFCs in the country. All banks offer secured and unsecured personal loans. In the case of unsecured loans, banks offers loans ranging between Rs.50,000 to Rs.40 lakh without any collateral. Personal loans are offered to customers based on their annual income, the company their employed, etc. Some of the top banks offering personal loans are ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, etc. To compare loan offers between banks, customers can facilitate the use of financial portals such as BankBazaar.

    Personal Loan offered by various banks in Ludhiana

    A number of top banks and NBFCs in the country offer personal loans in Ludhiana. Some of the more popular banks and NBFCs offering personal loans at the best interest rates are listed below:

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

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

    When availing a personal loan, most people go for the bank holding their salary account as the paperwork becomes a lot more relaxed and the process faster. While for some this might work perfectly, comparing the interest rate on loans offered by several banks and NBFCs is the best option. Other than that, there are a few other factors that will positively affect your loan interest rate. If you’re availing a loan, listed below are a few areas you need to look into or take care of if you wish to get the lowest interest rate on your loan:

    Credit score - Ensuring that your credit score is optimum is imperative when availing a personal loan. Having a high credit score will result in you getting a loan at a lower interest rate and vice versa. A credit score above 750 is satisfactory when availing a personal loan.

    Make a down payment - Putting down a sizeable down payment is sure to get you a better interest rate on your loan. Anything upward of 20% of your loan amount will positively affect the interest rate that is offered to you.

    Debt-to-income ratio - Making sure that you have a stable debt-to-ratio will firstly decide whether your loan will be approved and secondly will affect the interest rate on your loan. Debt-to-ratio is the amount one earns monthly against his/her credit bills, loans dues, etc.

    Look around for the best loan interest rates on offer - Facilitating the use of financial portals such as BankBazaar will help you when shopping around for loans from various banks and NBFCs offering the best interest rates. The BankBazaar website compares the loan interest rates of all its partner banks and makes it easier for customers to make a decision.

    Tenure - Choosing your tenure directly reflects on the interest rate added to the loan amount. Choosing a shorter tenure will result in you having a much less interest rate - though the EMIs will be considerably high. The interest rate increases with the length of the payback period.

    Employee stability and the company you work for - The number of years of experience and the company you work for plays a vital role whether firstly your loan will be approved and secondly the interest rate on the loan. Working for an established company only increases the bank's trust of you repaying the loan.

    Always negotiate - While most people readily agree to the interest rate on the loan offered by the bank, negotiating on the interest rate is a necessity. If you’re a customer availing a loan from the bank holding your salary, you have a better chance of making a negotiation.

    Personal Loan Interest Rates in Ludhiana 2017

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.59% - 18.49% (Fixed) 2.25% (min. Rs.1149) One time fee Rs.20 lakh (Max) 1-5 Years
    Citibank 10.99% - 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 Ludhiana

    When availing a personal loan in Ludhiana, the salary requirements vary from bank to bank. When looking for the bank offering the best interest rates, make sure to look out for the minimum salary requirement as well.

    • For salaried individuals - Banks have a minimum salary requirement between Rs.7,500 and Rs.50,000 for salaried individuals.
    • Self-employed individuals - Those having their own business should provide proof of income and most banks have an income requirement of Rs.1 lakh to Rs.2 lakh (profit) annually.

    Ludhiana Personal Loan FAQs

    1. What is the tenure range of personal loans?

      Most banks offer loans for a tenure of 1 to 5 years. The tenure decides the interest rate, the EMIs to be repaid to the bank monthly, etc.

    2. What documents are required when applying for a personal loan?

      You will need to submit your regular KYC documents (address and identity proof) - Passport, Aadhaar card, Voter’s ID, driving licence, any government employee card, etc. Apart from that, you will have to submit your payslips, last two years IT Returns, last six months bank statements, etc.

    3. Are there any additional charges for personal loans?

      You will have to pay the processing fee upfront when availing a loan. Apart from this there are no additional charges unless a prepayment is made.

    4. Will the loan be disbursed at once or in stages?

      Once your loan application has been approved by the bank or NBFC, the loan will be disbursed all at once. There is no option of splitting the disbursal.

    5. Can I prepay a loan after a couple of months?

      Most prepayment requirement for most banks is six months from the point of disbursal. Pre closing the loan in two months would not be a possibility. You would have to pay prepayment charges on the outstanding balance.


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