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  • Nagpur Personal Loan

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  • Nagpur is one of the main cities in Maharashtra and is home to a number of banks and financial institutions offering personal loans at just 10.99% interest. Whether you need funds for further education, wedding arrangements, home renovations or any other personal requirements, personal loans in Nagpur can help you meet your immediate expenses with ease. Tenures extend up to five years and the maximum amount you can borrow is Rs.30 lakh!
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    We found 17 Nagpur 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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    10.50% - 17.99% 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
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
    What you'll love
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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
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    Perks
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    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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    Nagpur is a large metropolis in the state of Maharashtra that serves as the winter capital of the state. It has been nominated as one of the best cities to live in India. The city has a population of 25 lakhs. The city is famous for the oranges grown here.

    If you are looking for a personal loan for any of your personal reasons, be it wedding arrangements, education plans, home renovation, purchase of consumer durable goods, purchase of two-wheelers, or any other reason; you can apply for one easily in the city of Nagpur.

    The city has several lenders that offer personal loans at attractive rates of interest. You can choose any one of them after performing a thorough check regarding each loan provider’s loan deals.

    Documentation needed to apply for an Nagpur 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

    Nagpur Personal Loan Interest RatesUpdated on 24 Oct 2019

    Nagpur Personal Loan Details
    Interest Rate (Monthly reducing balance) 10.99% to 24% p.a.
    Processing Fees Up to 2.5% of the loan amount
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loans offered by Various Lenders in Nagpur

    A few of the top lenders that offer personal loans in the city of Nagpur include:

    • State Bank of India (SBI)
    • IndusInd Bank
    • Syndicate Bank
    • Bank of Maharashtra
    • Corporation Bank
    • Fullerton India
    • Bank of Punjab
    • UCO Bank
    • Kotak Mahindra Bank
    • Oriental Bank of Commerce
    • The Bank of Rajasthan
    • Indian Overseas Bank
    • ING Vysya Bank
    • Dena Bank
    • Deutsche Bank
    • Tata Capital
    • Citibank
    • Andhra Bank
    • IDBI Bank
    • Punjab National Bank
    • Aditya Birla
    • Vijaya Bank
    • ICICI Bank
    • Axis Bank
    • HDFC Bank
    • Bajaj Finserv

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

    To get low rates on a personal loan, there are a few things one can keep in mind when scouting for loans. Choose the right lender who offers you loan terms which closely fit your needs. Before applying for the loan, ensure that you have a high credit score (above 750/900), which usually the biggest factor is determining the interest rate a lender charges you. The lower your score, the higher your personal loan interest rate is likely to be.

    Also, assess your requirements before you apply for the loan and take only the amount that you need and no more. If you do not estimate your requirements, you could end up taking a loan for an amount which is higher than what you need and you will still be required to pay interest on the higher loan amount. If you take a loan for a lower amount than what you need, you might have to end up taking another loan, and then will have to pay interest for that as well.

    Most importantly, you must compare different personal loan options before you finalise on one. You must certainly check out the rates of interest for each loan option and then select one that suits your preferences and requirements. Checking online is the best way to compare and contrast interest rates for loans. It is free of cost and you can do this while sitting on your bed at home or while sitting at your office desk, or even while commuting to your favourite coffee shop! This step will help you have a smooth borrowing process throughout your tenure as this step will enable you to make a fool-proof decision.

    If you know that your employer has partnered with any bank or non-banking financial company (NBFC) for loans and other financial products, you should most certainly approach this lender. When you choose this lender, you may be fortunate enough to receive special rates of interest for your personal loan. Moreover, you may be able to enjoy some additional discounts and other benefits too!

    Personal Loan Interest Rates in Nagpur 2018

    Several banks offer personal loans to residents of Nagpur. These include many leading public and private sector banks and also non-banking financial corporations as well. Here are the interest rates offered by the top 10 banks offering personal loans in Nagpur.

    Bank Personal Loan Interest Rate
    Citibank 10.99% to 15.99% (fixed)
    Standard Chartered 11.25% to 14.49% (fixed)
    ICICI Bank 10.99% p.a. to 22% p.a.
    Oriental Bank of Commerce 10.85% to 11.85% (floating)
    HDFC Bank 11.49% - 19.8% (fixed)
    IndusInd Bank 11.99% to 19% (fixed)
    Kotak Mahindra 10.99% to 24% p.a.
    Allahabad Bank 13.10% (fixed)
    Bank of Baroda 11.35% to 14.35% (fixed)
    Bank of Maharashtra 12.75% (fixed)
    Bank of India 13% to 14% (fixed)
    Canara Bank 12.75% (floating)
    Central Bank 11.4% (floating)
    IDBI Bank 12.45% (floating)
    Indian Bank 12.65% to 13.65% (floating)
    Indian Overseas Bank 13.65% (fixed)
    Yes Bank 14% (fixed)
    Vijaya Bank 13.50% (fixed)
    Union Bank 14.4% (floating)
    UCO Bank 11.20% to 11.45% p.a.
    Tamilnad Mercantile Bank 14.30% to 16.30% (floating)
    State Bank of India 12.90% to 14.90% (fixed)

    Salary Requirements to Avail Personal Loans in Nagpur

    When it comes to personal loans, the requirements, though overall the same, may differ in bits or parts, from lender to lender. Banks will have a minimum salary requirement for different categories of borrowers like salaried applicants or self-employed applicants.

    • Salaried applicants - Lenders in Nagpur usually require applicants to have a basic salary that ranges between Rs.7,500 to Rs.50,000.
    • Self-employed Applicants - Lenders usually ask self-employed applicants to provide a proof of their income (balance sheet or P/L account). The income requirement for self-employed applicants ranges between Rs.1 lakh to Rs.2 lakh in annual earnings.

    Nagpur Personal Loan FAQs

    1. What is the maximum amount which one can apply for under a personal loan?

      The maximum limit provided under a personal loan will differ from bank to bank. The maximum limit ranges from Rs.5 lakh to Rs.30 lakhs.

    2. What is the processing fee usually charged on personal loans?

      The processing fee charged on a personal loan will differ from bank to bank. However, banks usually charge loan processing fee between the ranges of 0.5% to 2.5% of the total loan amount.

    3. What is the average tenure for which a personal loan can be taken?

      Personal loans are usually available for a tenure that ranges between 1 year to 5 years. Again, like processing fee and minimum income requirement, the loan tenure can also differ from lender to lender.

    4. Do I need to provide a guarantor when applying for a personal loan?

      No, personal loans are unsecured loans which do not require the borrower to give any security or pledge assets to apply for the loan. However, the requirement of a guarantor may differ from lender to lender. Some banks may require you to present a guarantor in order to apply for the loan.

    5. Is prepayment/part payment allowed on personal loans?

      Pre-payment or part payment may not be always allowed on personal loans. Ask your bank about the same before applying for the loan.

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

        

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    Nagpur Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have got all the relevant details very clearly through the agent.There was no issues with the rate of interest and the processing fee ,I have got this loan on time without any delay .I am comfortable with the overall service.
      Was this review helpful? 0
      , nagpur
      Reviewed on Oct 11, 2019
    • Canara Bank
      HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied personal loan from HOME CREDIT INDIA FINANCE PRIVATE LTD. I applied for 2 lakh but they approved only 90 thousand. Their rate of interest is also very high. They are not deducting emi from my account so I am paying cash every month.
      Was this review helpful? 0
      , nagpur
      Reviewed on Oct 11, 2019
    • Fullerton Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Fullerton personal loan through Online .I have not availed the loan since loan was not approved .I have got all the required information and there was no issues with the rate of interest and the processing fee . There was no callback and response from fullerton end .
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 29, 2019
    • HDFC Bank Personal Loan
      "Need lot follow up on the loan process"
      0.5 3.0/5 "Satisfactory"
      I need the loan amount Rs. 4 lakh but Hdfc bank ready to sanction only 2 lakhs. Then there was no response from the bank end, even no one visited to my place to collect my paper. They need improvement on the loan process and follow up should be prompt.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 29, 2019
    • Fullerton Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for FULLERTON personal loan through online .I have not taken this loan since there was no requirement.The rate of interest and the processing fee was high .The agent gave all the information about the loan process. I am totally satisfied with the service so far .
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 28, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for personal loan from HDFC Bank. They had closed my application because of my address problem. They don't provide loan where I am residing right now. HDFC Bank's customer service is very good. Rate of interest was very high in comparison to other banks.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 27, 2019
    • Fullerton Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      The interest rate is higher in Fullerton so am not interested to continue my personal loan with them. The processing fee is applicable and the interest rate is around 21 to 22% which they need to decrease. I have provided the documents via online.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 24, 2019
    • HDFC Bank Personal Loan
      "Good Loan service"
      0.5 4.0/5 "Great!"
      Its because of the well customer care service provided by HDFC and the rate of interest also low when i compared to others hence i have chosen the personal loan from HDFC. I had applied the loan amount of Rs. 70000. From bank end, they have rejected the loan because they will provide the minimum loan amount of Rs. 1 lakh.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 19, 2019
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I was applied for a personal loan with HDFC bank through an online. The process was good and received a call on time. The loan amount was not sufficient I expect for more than 5 lakhs but they offered 5 for the tenure low amount 5 lakhs expecting more than that for the tenure of 5 years. From my end closed the loan process.
      Was this review helpful? 1
      , nagpur
      Reviewed on Sep 10, 2019
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      I have applied for HDFC Bank personal loan through Online .I have not the loan since working Proprietorship company .I have got all the details about the loan process .I was not clear about the rate of interest and the processing fee .Verification was done and there wqas proper follow up and callback was there.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 10, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I had applied for HDFC bank personal loan where the rate of interest was very high than the other banks,so due to this I had planned to drop the application and applied with other bank. but the customer service of the HDFC bank was good and kept me updated on my application.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 07, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had applied for HDFC personal loan where I got personal loan from State bank of India with less rate of interest and with good tenure, so due to this I had planned and dropped this HDFC personal loan application but the customer care service of HDFC bank was good.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 04, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFCBank personal loan through Online .I have not taken this loan due to personal issues .There was no issues with rate of interest and the processing fee .I have not submitted any documents .The agent gave only little information and the there was no proper follow up and callback from bank end .
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 04, 2019
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan from HDFC Bank from the internet. I canceled the application because I had taken money from another source. When I applied the loan rate of interest was ok in comparison to other banks. Loan amount was quite sufficient.
      Was this review helpful? 2
      , nagpur
      Reviewed on Sep 03, 2019
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had applied for a personal loan from HDFC Bank online. I closed the application because I did not get any response from the bank's end. Nobody turned up to collect my document or for verification. So I arranged the money from another source.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 03, 2019
    • HDFC Bank Personal Loan
      "It's good"
      0.5 4.0/5 "Great!"
      Actually I need a personal loan to preclose my credit card bills but for the last 3months, i did not pay the credit bills. I think, may be due to this reason the loan has been canceled with HDFC BANK. Even though the representative contacted me to collect the document but nobody turned up to get the documents.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 23, 2019
    • HDFC Bank Personal Loan
      "Good bank for loans"
      0.5 4.0/5 "Great!"
      When I gave loan inquiry to HDFC bank, I thought there is no need to take loan at that point of time. Hence I dropped the plan but the bank service is satisfactory, they gave me prompt response and updated documentation list. The rate of interest was is also nominal with the HDFC bank.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 22, 2019
    • HDFC Bank Personal Loan
      "Average"
      0.5 5.0/5 "Blown Away!"
      I had applied for personal loan from HDFC Bank through Bankbazaar. I submitted all my documents online after that HDFC Bank executive called me to upload my documents again. I sent it through whatsapp but I have not got any response after that. I am not aware of the rate of interest.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 22, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for personal loan from HDFC Bank through Bankbazaar.com. Loan was disbursed on time. Their rate of interest is very very high. They have provided sufficient loan amount and processing fee was not waived. Verification process was very smooth.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 12, 2019
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had a loan with Bajaj Finserv and its a best one. I have not faced any issues and even the rate of interest was good. There was a processing fee which is minimal. The loan tenure is 5 years. I have foreclosed by balance transfer. There were charges but it was not done as per my request.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 11, 2019
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