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  • Meerut Personal Loan

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  • 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 17 Meerut 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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    Fees & Charges
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    Eligibility Criteria
    Customer Reviews
    10.99% - 18.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
    What you'll love
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    Fees & Charges
    Good to Know
    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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    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
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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
    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
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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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    Perks
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    Eligibility Criteria

    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 16 Oct 2019

    Meerut 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 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
    • ICICI Bank
    • Fullerton
    • Tata Capital
    • HDFC Bank
    • Aditya Birla
    • Oriental Bank
    • Axis Bank
    • Bajaj Finserv

    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 2018

    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 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.

    Meerut Personal Loan FAQs

    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.

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

        

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    Meerut Personal Loan Reviews

    • Fullerton Personal Loan
      "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
      HDFC Bank Personal Loan
      "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 Personal Loan
      "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
    • ICICI Bank Personal Loan
      "Its Good Experience"
      0.5 4.0/5 "Great!"
      For my personal loan ICICI bank have quoted me the rate of interest around 9% its higher compared to other banks.. The loan amount is sufficient, the paper process was happened on time, they have collected the documents and sanctioned it on time.
      Was this review helpful? 3
      , meerut
      Reviewed on Jan 10, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with ICICI bank the loan amount is one lakh,rate of interest is nominal as compared to other banks.They had processed the request within three days.I submitted documents and they were quick in processing.The net banking facility is good.
      Was this review helpful? 0
      , meerut
      Reviewed on Dec 06, 2017
    • ICICI Bank Personal Loan
      "Good response"
      0.5 4.0/5 "Great!"
      I got good response from ICICI bank end, but at that time i had no requirement so i close the loan application with ICICI. In future if i am planning to take a loan the i could definitely consider ICICI. They response from their end was really good.
      Was this review helpful? 0
      , meerut
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "long process"
      0.5 4.0/5 "Great!"
      I had a decent relationship with ICICI over the years and which leaded me to take a Personal Loan with the Bank. The experience I had with them was just okay, the time they took to disburse the amoung was pretty long . I got a total of Rs.4 Lakhs with them and felt the Rate of Interest with them to be a little high.
      Was this review helpful? 0
      , meerut
      Reviewed on Nov 01, 2017
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I have approached ICICI bank for my personal loan . The rate of interest was 13.99% was average for 4 lakhs loan amount but now there is no requirement for the loan so I have dropped the plan. I am satisfied with the customer service and responsiveness. My overall experience was excellent and its recommendable also.
      Was this review helpful? 0
      , meerut
      Reviewed on Oct 24, 2017
    • ICICI Bank Personal Loan
      "Communication part should be improved"
      0.5 3.0/5 "Satisfactory"
      There was no response from ICICI, I have submitted all the documents to them. I didn't get confirmation before closing my application. Still now I am not aware why they have rejected the loan request. I would like to suggest they should give communication to the customer.
      Was this review helpful? 0
      , meerut
      Reviewed on Oct 23, 2017
    • ICICI Bank Personal Loan
      "Its Better"
      0.5 2.5/5 "Just OK"
      ICICI responded very well on the personal loan request, but I didn't process with them because currently I left my job, due to other commitment. I thought not to go head with ICICI right now for the personal loan. But I am fine with ICICI bank..
      Was this review helpful? 0
      , meerut
      Reviewed on Oct 04, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The ICICI bank took longer than normal time while disburse my loan amount. They took around 20 days for the disbursement. The transparency was absent in the Documentation process, they took very long time for my documentation process.The ICICI bank was not sent their executives to collect my documents and I went to the nearest ICICI branch and submitted my documents. The rate of interest was nominal when compared with others.
      Was this review helpful? 0
      , meerut
      Reviewed on Aug 28, 2017
    • ICICI Bank Personal Loan
      "Good in Response"
      0.5 5.0/5 "Blown Away!"
      The interest rate is too high for the personal loan with ICICI bank,which is of 16.5% so I just cancelled my loan application. But from the bank I received very good response for the loan application. I do have multiple account with ICICI bank. All their service are good.
      Was this review helpful? 0
      , meerut
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "High in Interest Rate"
      0.5 3.0/5 "Satisfactory"
      ICICI bank provided a good service for my personal loan. I did not find any challenge in process wise but I am not satisfied with their rate of interest and processing fees. Interest rate is something bit high than other banks. Customer service is somewhat better.
      Was this review helpful? 0
      , meerut
      Reviewed on May 17, 2017
    • HDFC Bank Personal Loan
      "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
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The service provided by ICICI bank is good. They had done the disbursement of the personal loan as soon as possible. Rate of interest charged by them was 15.5% and the processing fee charged was around 4000 . Overall process followed by ICICI Bank is really good.
      Was this review helpful? 1
      , meerut
      Reviewed on Apr 09, 2017
    • ICICI Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      I did not go ahead for the personal loan with ICICI bank as I got the funds from another bank. The services was good though, they contacted me and informed me the details. The rate of interest and charges was normal as well. In all a good experience.
      Was this review helpful? 0
      , meerut
      Reviewed on Mar 22, 2017
    • ICICI Bank Personal Loan
      "Should Give Proper Response to the Customer"
      0.5 4.0/5 "Great!"
      I am very much disappointed with ICICI personal loan service. Because I applied my loan on 13th January but I received the response on 27th January. Until that there was no response from Bank end to update my application status. I approached this loan for an emergency purpose but they taken long time to update the process. ICICI offered the interest rate of 12.69% and with the processing fee of Rs.1700.
      Was this review helpful? 0
      , meerut
      Reviewed on Feb 14, 2017
    • ICICI Bank Personal Loan
      "Good overall "
      0.5 4.0/5 "Great!"
      The process for the personal loan was satisfactory from ICICI Bank. The services was good, but they could have been more better and swift. The rate of interest and charges was normal, it was a good deal and the after loan has been smooth as well.
      Was this review helpful? 0
      , meerut
      Reviewed on Jan 02, 2017
    • HDFC Bank Personal Loan
      "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
    • ICICI Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from ICICI Bank and it was a very good experience. They completed it on time and the loan amount was also as required. They also provided a reasonable rate of interest around 12%. The processing charges was normal too.
      Was this review helpful? 0
      , meerut
      Reviewed on Nov 05, 2016
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