Multiple banks. Different interest rates. Call it a "conflict of interest".
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    New Delhi Personal Loan

    The capital of India, New Delhi has a plethora of banks that offer personal loans and other financial services at attractive terms and conditions Delhi is home to several different banks that offer personal loans at competitive interest rates with hassle-free approval processes and minimal documentation. The repayment tenures are flexible and the loan amounts can extend up to Rs.30 lakh, thus making it easy for you to fulfil your financial goals.
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    We found 33 New Delhi Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.75% - 18.00% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
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    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
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    20% - 22%  Fixed
    2.50%
    2L Max
    1-3 Years
    Response Time : Within 30 minutes
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    Response Time : Within 30 minutes
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    11.25% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.25% - 19.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
    Response Time : Within 30 minutes
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
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    11.25% - 22.00% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
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    New Delhi Personal Loan is Rated as "Great!" by 7856 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    New Delhi is the capital of India and seat of the executive, legislative, and judiciary branches of the Government of India. It is also the centre of the Government of the National Capital Territory of Delhi.Delhi metropolitan region is the world's second most populous city and the largest city in India and also one of the largest in the world in terms of area. After Mumbai it is also the wealthiest city in India, and has the 2nd highest GDP of any city in South, West or Central Asia.

    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 New Delhi 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

    New Delhi Personal Loan Interest RatesUpdated on 24 May 2019

    New Delhi 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 New Delhi

    For those looking for an extra boost, financially speaking, either to renovate their house, pay for emergency medical bills, buy a gadget that they desire or fund a holiday, there is the option of personal loans. Top banks and NBFCs (Non-Banking Financial Company) across the country offer personal loans that are unsecured - meaning that there is no requirement for collateral. Customers wishing to avail personal loans can start by visiting the financial portal - BankBazaar. On the BankBazaar website, customers can compare the interest rates offered by its partner banks and decide on a loan from a particular bank that suits their current financial situation.

    Personal Loan offered by various banks in New Delhi

    Some of the leading banks and NBFCs offering personal loans at the best interest rates are listed below:

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

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

    A lot of customers fail to do their research when availing a loan and leave it to their banks to make the decisions and bring forward the estimations. The problem with this approach is that getting the best interest rate for the loan becomes almost far-fetched. Looking into all aspects of a personal loan before availing it is absolutely necessary. If you wish to avail a loan at the lowest interest, here are a few key areas you will have to look into:

    Credit score - Making sure that your credit score is above par will result in you availing a loan at a fairly good interest rate. The better your CIBIL score the lower the interest rate added to the loan and vice versa.

    Down payment - Making a down payment upward of 20% of the loan amount will result in you availing a loan at a better interest rate. The bigger the down payment, the better the interest rate.

    Debt-to-income ratio - Always ensure that your EMIs, credit bills and so on, do not cross 40% of your annual or monthly income. Having a good debt-to-income ratio will boost your chances of availing a loan with a good interest rate.

    Loan shop - Financial portals such as BankBazaar are of great help when loan shopping. On the BankBazaar website, individuals can compare loan interest rates offered by its partner banks and can narrow down on a loan with the best interest rate relative to the tenure - one that suits their budget.

    Your employment and experience - This is one factor banks and NBFCs take into consideration when approving or rejecting a loan application. If you’ve had a stable income and work for a reputed company, it’s likely that you could very well negotiate on a decent interest rate.

    Make sure that you negotiate - Negotiating the interest rate on your loan is absolutely necessary. Most people just go ahead with the numbers set by banks and NBFCs, but making a negotiation will help you in the long run.

    Tenure - Choosing your tenure directly reflects on the interest rate added to the loan amount. Choosing a shorted tenure will result in you having a much less interest rate.

    Personal Loan Interest Rates in New Delhi 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 New Delhi

    Every bank and NBFC have a certain salary requirement which customers have to meet to get a loan approval. Apart from looking at factors such as interest rate, processing fees, prepayment and so, make sure your cross check with the bank’s minimum salary requirement for a particular loan. As already mentioned, the salary requirement varies from bank to bank.

    For salaried individuals - Depending on which bank you are availing the loan from, generally the minimum salary requirement ranges roughly between Rs.7,500 and Rs.50,000.

    Self Employed individuals - Self-employed individuals should provide proof of income of the last two financial years. Generally, the income requirement to avail a loan is between Rs.1 lakh and Rs.2 lakh (profit).

    New Delhi Personal Loan FAQs

    1. Does my CIBIL score affect the interest rate on my loan?

      Yes, your CIBIL score directly reflects on the interest rate the bank or NBFC offers you on your personal loan. The higher your credit score, the lower will be the interest rate and vice versa.

    2. Can I transfer my loan amount to another lender? What’s the process?

      A balance transfer is possible. In this case, the present lender will clear the dues and transfer the amount to a new loan with the interest as well.

    3. Is a complete foreclosure of a loan possible?

      Some banks allow it whereas other banks only allow a partial foreclosure of loans. In most cases, banks charge between 1% to 2% of the outstanding amount as foreclosure charges.

    4. What happens when all the loan dues have been cleared?

      Once the loan amount has been cleared completely, the bank will issue a No Due Certificate.

    5. Does failing to pay my EMIs affect my CIBIL score?

      Yes, failing to repay your loan on time directly reflects on your credit score.

        

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    New Delhi Personal Loan Reviews

    • ICICI Bank Personal Loan
      "Need to decearse hidden charges"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan in ICICI bank for the past 4 years. The amount which I received from bank was sufficient as per my expectation for the duration of 3 years. The rate of interest for 12% is nominal in this bank. The charges are applicable for this loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 21, 2019
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have using ICICI bank personal loan from long time, the loan amount which they have given me was good, it was sufficient for me, the rate of interest they have charged me was up to 13-14% which was nominal,the processing fee they have charged me was nominal, still this loan is running.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 20, 2019
    • Kotak Personal Loan
      "Not happy with service"
      0.5 1.0/5 "Really Bad"
      My personal loan was taken with KOTAK MAHINDRA BANK , the tenure period is sufficient . The interest rate is very high with the market rate. , I got the loan amount soon . It has been a average personal loan experience with the KOTAK bank . I ma not happy with services and loan is not satisfactory .
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with STATE Bank OF INDIA and my application was processed on time. There was no difficulty submitting documents and there was no delay . Well the interest rates is very high to me. Overall i am happy with the services
      Was this review helpful? 1
      , new delhi
      Reviewed on May 20, 2019
    • Axis Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have been taken a personal loan in AXIS bank for more than one year. I expect for 2.5 lakhs but bank offered for 5 lakhs much sufficient amount for the duration of 4 years. The rate of interest is nominal for 13%. The processing fee is applicable and is nominal.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • IndusInd Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Indusind Bank Personal Loan through Bank directly.The rate of interest and the processing fee was high.There was no difficulties so far .The loan amount got sanctioned on time .The loan amount was sufficient .The loan is still active .I have submitted the documents as well.The service was smooth so far .
      Was this review helpful? 2
      , new delhi
      Reviewed on May 18, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for personal loan through HDFC Bank directly .The rate of interest and the processing fee was nominal .I have got he loan amount on time without any delay and the loan amount was sufficient as well .The agent gave all the required information about the loan process.Still the loan is active .
      Was this review helpful? 2
      , new delhi
      Reviewed on May 18, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken my personal loan with HDFC BANK , , they charge nominal rate of interest and tenure period was sufficient . The loan amount is satisfactory with this bank . I ask pretty less loan amount but they gave high so i am happy with that . There has been a smooth banking experience .
      Was this review helpful? 2
      , new delhi
      Reviewed on May 18, 2019
    • Axis Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I took personal loan from Axis around Rs. 95,000 they taken normal processing fee, the interest rate was normal at that time. The document process was good, they deducts EMI on time. The customer service is professional before taking the loan they shared all the information.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 16, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken my Personal loan from HDFC Bank a while back and the process in getting the loan was pretty much simple. The loan amount was sufficient but the interest rate with them had been a little on the higher end. The processing charges where nominal and they had not made any sort of additional charges.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 16, 2019
    • HDFC Bank Personal Loan
      "Need to reduce charges"
      0.5 3.0/5 "Satisfactory"
      I was taken a personal loan in HDFC bank seven years ago, At the time verification process was good.As per my expectation I got the loan amount for the duration of 3 years. But the rate of interest was high. Processing fee also applicable. The customer service is good.The good part from this bank is transaction process will be done in fast manner.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 14, 2019
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been recently applied for HDFC bank personal loan through on line portal, their service i felt was good, the loan amount which they have given to me was sufficient, it was as per my requirement, the rate of interest they have charged me up to 11.48% which was nominal, so far i did not face any issue,the loan came on time.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 13, 2019
    • Bajaj Finserv Personal Loan
      "Need to decrease rate of interest"
      0.5 5.0/5 "Blown Away!"
      I was taken a personal loan in BAJAJ FINSERV, the process was smooth. The rate of interest was high. The processing fee was applicable, for the duration of 5 years i have taken but closed within 3 years. The best in this bank whatever query if we ask their response will be quick response on time. I have done pre closure for the personal loan.
      Was this review helpful? 3
      , new delhi
      Reviewed on May 13, 2019
    • ICICI Bank Personal Loan
      "Need to improve customer service and response "
      0.5 5.0/5 "Blown Away!"
      I was a taken a personal loan in ICICI bank, the process was smooth. The rate of interest was high when compare to other bank. The loan amount of 5 lakhs for the duration of 3 years. Customer service is no proper response so want to improve their service. I have done pre closure for the personal loan.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 13, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I was a taken a personal loan in HDFC bank, the process was smooth. The rate of interest was average. The processing fee was applicable, The best in this bank whatever query if we ask their response will be quick response on time. I have done pre closure for the personal loan.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 13, 2019
    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      One year before I have a personal loan in KOTAK bank as per my expectation i got the loan for the duration of 4 years. It is a pre approval loan so the process was easier when compare to other bank.The rate of interest is high, processing fee is applicable. The customer service is good and responsiveness .
      Was this review helpful? 0
      , new delhi
      Reviewed on May 13, 2019
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The overall experience i had in getting my personal loan from STATE BANK OF INDIA has been pretty good and easy, the loan amount has been sufficient. The rate of interest with the loan was quite competitive and the charges where nominal as well. The services where good and the loan is still running.
      Was this review helpful? 3
      , new delhi
      Reviewed on May 10, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Personal loan from HDFC Bank a while back and the process in getting this loan was pretty much simple. The loan amount has been sufficient and the interest rate with the bank has been nominal when compared to the other banks. They had not made any sort of additional charges with this loan.
      Was this review helpful? 3
      , new delhi
      Reviewed on May 10, 2019
    • review Personal Loan
      "Lengthy procedure in getting a loan"
      0.5 3.0/5 "Satisfactory"
      Very lengthy process to get a personal loan from a Gramin bank . Lot of signature formalities and hard copy submission was included till the sanction of loan . Consumption of time is more in this bank . But the interest rate and processing fees are very much reasonable.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 09, 2019
    • HDFC Bank Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan with the HDFC BANK where using it sine from last few years and the duration for repaying the loan is for 5 years. The loan process was simple also the documentation process was good and convenient. It is good to use.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 08, 2019
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