• Meerut Personal Loan

    Personal loans are unsecured loans which come with a hoard of benefits. Based on your income and creditworthiness you can apply for any amount of a personal loan from the top banks in Meerut to fulfill your financial requirements.
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    We found 19 Meerut 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
    100% PAPERLESS APPROVAL
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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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    Meerut is considered to be one of the most important cities in Western Uttar Pradesh and it’s the second largest city in the National Capital Region. In fact it’s only about 70 kms from away from New Delhi, which adds to its geographical importance.It is considered to be 63rd fastest growing urban regions in the world.The infrastructure in the city today is top notch as it is well connected to Delhi, Agra and other important cities in North 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 an Meerut 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

    Meerut Personal Loan Interest RatesUpdated on 01 Oct 2022

    Meerut Personal Loan Details
    Interest Rate (Monthly reducing balance) 9.60% p.a. - 36% p.a.
    Processing Fees 0%-6%
    Loan Tenure 1 year to 6 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Brief about Personal Loan in Meerut

    Meerut is an ancient city situated on the banks of the Indian state of Uttar Pradesh. The settlement dates back to the times of Indus Valley Civilization. It is an industrial town with a balance of new and traditional industries. The city’s proximity with the country capital, Delhi, also is a big plus for its economic welfare.

    Personal Loan offered by various Banks in Meerut

    There are a number of leading banks and NBFCs that offer personal loans to customers who are located all over Meerut. These banks provide all kinds of loans to the ever burgeoning population of the city, including personal loans.

    In addition to providing personal credit, these banks also offer a number of different banking facilities like investment advice, net banking, asset management, and other forms of commercial lending. Listed below are a few of the prominent banks that provide personal loans and operate out of Meerut:

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

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

    Knowing the components of a loan that affect the interest rate is imperative when applying for a loan. Most people, blindly avail loans from the banks holding their salary account and leave all the calculations and assessments to be made by the bank. For first-timers, these are the areas you need to look into and improve if you wish to avail a personal loan at the lowest interest rate possible.

    Credit score - The credit score of the individual directly influences the interest rate that the bank will offer you when availing a loan. If the credit score is good (anything above 750), the interest rate offered by the bank will be low. If the credit score is below 750, the bank will place a higher interest rate on the loan.

    Down payment - Making a down payment upwards of 20% of the loan amount will result in you getting a better interest rate on the personal loan.

    Debt-to-income ratio - When a bank or NBFC makes a verification of the credit profile of the loan applicant, the debt-to-income ratio is one of the first things that is taken into consideration. Having a debt-to-income ratio less than 40% of your monthly net income is ideal when availing a loan. If it is more than 40%, the bank might reject the loan application (based on your income) or might apply a higher interest rate if the application comes through.

    Loan shop - Facilitating the use of financial portal such as BankBazaar has made loan shopping easy. Using the BankBazaar website, individuals can compare loan offers from different banks and NBFCs and choose one that suits their financial situation. In addition, customers can even make EMI calculations and check their CIBIL score on the website.

    Experience and employer - The number of years of experience you have and the company you work for affects the bank’s decision to either give you a higher or lower interest rate. Working for a reputed company will increase the bank’s trust in you making the repayment in time.

    Negotiate - One of the more important aspects when availing a loan is to negotiate with the bank executives on the interest rate of the loan you wish to take out. Making a negotiation might just get you an ideal interest rate on your loan.

    Personal Loan Interest rates in Meerut 2022

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    Citibank 9.99% - 16.49% (Fixed) 1% to 2.5% Rs.30 lakh (Max) 1-5 Years
    Kotak Mahindra Bank 10.25% onwards Up to 2.5% Up to Rs.20 lakh (Max) 1-5 years
    Fullerton 11.99% - 36% 0% to 6.0% (One time fee) Up to Rs.25 lakh (Max) 1-5 Years
    Bank of Baroda 10.50% - 12.50% (Fixed) 2% of the loan amount subject to Rs.1,000 to Rs.10,000 (One time fee) Up to Rs.2 lakh 1-5 Years (Max)
    State Bank of India 9.60% - 15.65% 1.5% (One time fee) Up to Rs.20 lakh 6 Years
    Aditya Birla 14% - 26% (Fixed) Up to 2% of the loan amount Rs.15 lakh (Max) 1-3 Years
    Yes Bank 10.99% onwards (Fixed) Up to 2.5% (One-time fee) Rs.40 lakh (Max) 1-5 Years

    Salary requirements to avail Personal Loans in Meerut

    When a bank or NBFC receives an application that was sent in by an individual who’s looking for a personal loan, there are a few requirements that the borrower would have to meet before the lender can sanction the loan. One of these factors is the individual’s salary. The bank or NBFC should be quite certain that the individual is capable of repaying the loan amount. Some of the requirements that the borrower has to meet have been listed below:

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

    FAQs on Meerut Personal Loan

    1. How can I apply for a higher amount for my personal loan?
    2. 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.

    3. Can I use a personal loan to furnish the interiors of my house?
    4. Yes, you can use a personal loan to furnish the interiors of my house.

    5. Can I get a personal loan if I have a low credit score?
    6. If you have a low credit score, you may either get the loan at a very high rate of interest or your application may be denied as well.

    7. What is the processing fee charged on a personal loan?
    8. Lenders usually charge a processing fee ranging from 0.5% to 2.5% on the overall loan amount.

    9. What is meant by unsecured loan?
    10. Unsecured loans like personal loans are those which do not require any collateral or security to be pledged in exchange for the loan.

        

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    Meerut Personal Loan Reviews

    • HDFC Bank
      "Best Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for personal loan in HDFC Bank through online.I have not availed this loan since got the information agent will come and collect the required documents but noone came to collect the documents hence have postponed the plan of taking this loan .The rate of interest and the processing fee was nominal .
      Was this review helpful? 0
      , meerut
      Reviewed on Feb 06, 2020
    • HDFC Bank
      HDFC Bank
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .I have not taken this loan since the rate of interest and the processing fee was very high .There was proper callback and follow up from bank end .The agent shared all the relevant details about the loan .I have submitted the required documents also for this loan.
      Was this review helpful? 1
      , meerut
      Reviewed on Dec 31, 2019
    • HDFC Bank
      "Need to decrease interest charges"
      0.5 3.0/5 "Satisfactory"
      I have not receive any call from HDFC BANK for further verification once applied for a personal loan on 2 months before through an online. The amount which was offered for a low amount for the tenure of 5 years, the rate of interest of 14.7% was high.
      Was this review helpful? 0
      , meerut
      Reviewed on Oct 21, 2019
    • Fullerton
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had applied for personal loan from Fullerton. I had submitted my documents to their executive. Their rate of interest and charges are very high. Their service is very good though. We can get loan within a week, their processing time is very less.
      Was this review helpful? 0
      , meerut
      Reviewed on Oct 14, 2019
    • HDFC Bank
      "Need to imrpove their service"
      0.5 1.0/5 "Really Bad"
      Once after I applied for a personal loan with HDFC bank I got a call from bank for further verification on time.Once done all verification from bank they have intimates as cannot be process for this loan,the amount was sufficient for 5 years, the rate of interest was high, their service should improve further.
      Was this review helpful? 0
      , meerut
      Reviewed on Oct 05, 2019
    • HDFC Bank
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting my Personal loan from HDFC has been pretty good where the disbursement has happened on the promised time. I am happy with the loan amount and the interest rate has been nominal when compared with the other banks. The processing fee and charges where also normal.
      Was this review helpful? 0
      , meerut
      Reviewed on Apr 16, 2019
    • HDFC Bank
      "Better service"
      0.5 4.0/5 "Great!"
      I am quite happy with the HDFC service on my personal application. They took around one week of time to disburse my personal loan. The rate of interest, fees and charges are high, when compared with others. Hdfc provides very good service to its customers.
      Was this review helpful? 0
      , meerut
      Reviewed on Apr 15, 2017
    • HDFC Bank
      "Expecting a better response"
      0.5 1.0/5 "Really Bad"
      To be honest, I am not okay with the service rendered by HDFC bank. Its been 1.5 months since I had applied for the loan, I have not received a single call from them till date . I have no clue why they did not contact me. My sincere advise to HDFC Bank, HDFC Bank being a private sector bank should provide very good service to retain their existing customers.
      Was this review helpful? 0
      , meerut
      Reviewed on Dec 03, 2016
    • Fullerton
      "Average experience"
      0.5 3.0/5 "Satisfactory"
      It was not a very convenient process and experience with Fullerton for my personal loan. I did not get any information on my repayment details. For the first two EMI I had to contact them a couple of times and did not get a response. So I on my own had to log on to their portal and enter my loan account number and made my payments. Likewise the loan process initially was not up to the mark. But overall I would recommend the institution as they have given me the loan at the time of my need.
      Was this review helpful? 0
      , meerut
      Reviewed on Sep 12, 2016
    • HDFC Bank
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from from HDFC Bank. The day I applied for the loan, they came over to my place and collected my documents and the very next day I received the funds in my account. The process was fast, may be because I am a corporate customer.
      Was this review helpful? 2
      , meerut
      Reviewed on Aug 24, 2016
    • HDFC Bank
      "Smooth process"
      0.5 4.0/5 "Great!"
      I got the call from hdfc bank on the next day when i applied for the personal loan. The executive came to the place to collect the document and in ten days the amount was credited. Rated to interest charged nearly 15% and the processing fee was Rs.16,000 which includes the insurance charge also.
      Was this review helpful? 0
      , meerut
      Reviewed on Mar 29, 2016
    • HDFC Bank
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      My experience with hdfc bank is very bad as the service is not up to the mark . I have been applied for the personal loan with which has crossed 1.5 month and not even single has been received. I am not aware of the application status at all. Private banks are depend upon the customer service so they have improve it.
      Was this review helpful? 0
      , meerut
      Reviewed on Jan 04, 2016
    • HDFC Bank
      "Nice response "
      0.5 3.0/5 "Satisfactory"
      The personal loan was rejected by HDFC bank..I am not happy with the service provided HDFC Bank based on the personal loan.They have responded very late for the application being submitted but the interest rate applied in the loan was quite good.
      Was this review helpful? 0
      , meerut
      Reviewed on Nov 20, 2015
    • HDFC Bank
      "Great!!!"
      0.5 5.0/5 "Blown Away!"
      From hdfc bank i took the personal loan with the interest rate of 14.33% and within 20 days the loan was disbursed The verification and documentation was very easy and there was no issues. The processing fee charged was Rs. 5000 -1000 which was high .I closed the loan and i got the documents on time.
      Was this review helpful? 0
      , meerut
      Reviewed on Oct 19, 2015
    • SBI
      "Personal Loan at Floating Interest Rate"
      0.5 5.0/5 "Blown Away!"
      I availed Personal Loan from State Bank of India in 2012 for 5 years tenure period. This loan was offered to me basis on my salary account and the rate of interest in floating. Bank send SMS for updating any changes in the interest rate. As of now the interest rate has gone maximum up to 15%. Processing fees charges by Bank was also nominal.
      Was this review helpful? 3
      , meerut
      Reviewed on Sep 22, 2015
    • Fullerton
      "High Interest Rate"
      0.5 4.0/5 "Great!"
      Call was made on time from on Fullerton India time and the documents were also collected on time. Processing of personal loan took approximately 15-20 days. Document expected was basic. But interest rate charged by Fullerton India is way too high. I had urgent requirement and the process was initiated quite quick so I availed the loan from Fullerton India.
      Was this review helpful? 0
      , meerut
      Reviewed on Sep 22, 2015
    • HDFC Bank
      "Good"
      0.5 5.0/5 "Blown Away!"
      Interest rate offered for my personal loan from hdfc bank was 18.5% which is high. They charged Rs.5000 in which insurance and processing fee is been included. They took 20 days for the disbursement. Still now everything is going good.
      Was this review helpful? 0
      , meerut
      Reviewed on Sep 01, 2015
    • Fullerton
      "Reduce Documents List "
      0.5 3.0/5 "Satisfactory"
      My first Personal Loan was taken from FULLERTON INDIA Bank. One of my friend recommended me to apply with FULLERTON. They totally took 15 days to complete the processing which is quite high. I visited them multiple times to submit my documents because they have asked me for too many documents. It would be helpful if they requires limited number of documents for processing.
      Was this review helpful? 0
      , meerut
      Reviewed on Aug 19, 2015
    • HDFC Bank
      "Needs Much Improvement "
      0.5 4.0/5 "Great!"
      I have taken my Personal loan with HDFC bank for the total tenure of three years. The bank executive helped me a lot to avail this loan from them. But once I had an issue in my cheque payment, later I resolved that problem with them. After that I made a foreclosing payment on this loan.
      Was this review helpful? 0
      , meerut
      Reviewed on Aug 19, 2015
    • HDFC Bank
      "Good "
      0.5 4.0/5 "Great!"
      Since I maintain my salary account with HDFC I tried for applying a personal loan with HDFC.Later I closed the application since I arranged the fund through other source.The customer service provided was really good.The interest rate offered was on the higher side while compared to ICICI bank but the charges offered was less.
      Was this review helpful? 0
      , meerut
      Reviewed on Jul 18, 2015
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