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.

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.

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.

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.

Does failing to pay my EMIs affect my CIBIL score?

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

Personal Loan in New Delhi

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.40 lakh, thus making it easy for you to fulfil your financial goals.

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Check your Eligibility!

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.

New Delhi Personal Loan Interest Rates and Details

Interest Rate	8.90% to 36% p.a.
Processing Fees	0% -6%
Loan Tenure	1 year to 6 years
Pre-closure Charges	2% - 5%
Guarantor Requirement	No guarantor required

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

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 Interest Rates in New Delhi

Bank	Interest Rate Range	Processing Fee Range	Loan Amount	Tenure
ICICI Bank	10.50% - 19.00% (Fixed)	2.50%	Rs.25 lakh (Max)	1-5 Years
CitiBank	9.99% - 16.49%	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	1-5 years
Fullerton	11.99% - 36% (Fixed)	Between 0%-6% of the loan amount	Rs.25 Lakh (Max)	1-5 Years
State Bank of India	9.60% - 15.65%	Up to 1.50% of the loan amount (One time fee)	Up to Rs.20 lakh	1- 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 2.50% of the loan amount subject to a minimum of Rs.999 plus taxes (One time fee)	Rs.40 lakh (Max)	1-5 Years
Union Bank of India	8.90% to 13.00% p.a.	At the discretion of the bank	Up to Rs.15 lakh	Up to 5 Years

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.

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).

FAQs on New Delhi Personal Loan

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.
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.
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.
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.
Does failing to pay my EMIs affect my CIBIL score?
Yes, failing to repay your loan on time directly reflects on your credit score.

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

Important Personal Loan Pages

Personal Loans by Bank

Personal Loan Eligibility by Banks

Personal Loan Interest Rates by Bank

Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Personal Loan Status Track by Bank

Personal Loan Articles

Other Loans

Disclaimer

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

Write a Review

"Rate of interest was very high"

0.5 4.0/5 "Great!"

The rate of interest was very high 10.45% for personal loan from HDFC Bank. So i request to close this loan because i alreay taken a loan from other bank with the normal interest. Customer service and responsive was good, need to work on interest rate.

Was this review helpful? 140

N , new delhi
Reviewed on Mar 20, 2020
"Average Service"

0.5 1.0/5 "Really Bad"

The rate of interest was very high on Incred end and there was proper response as well as callback .This loan was sanctioned on time and have taken for personal use. The documents are submitted through agent. Only they should reduce the rate of interest.

Was this review helpful? 41

NIRANJAN , new delhi
Reviewed on Mar 16, 2020
"Interest rate was high"

0.5 2.0/5 "Expected more"

Rate of interest was very high in INCRED , they are charging 28% which they need to decrease. So, I given a request to closed this application and documents i given a photocopy and the customer service, responsiveness was good. I got this loan offer so i applied this through online.

Was this review helpful? 26

S , new delhi
Reviewed on Mar 15, 2020
"Best Service"

0.5 4.0/5 "Great!"

Everything was good with Incred personal loan and it was sanctioned on time without any hassles. The rate of interest and processing fee was very high which needs to decreased. The loan details was clearly shared by the agent . Documents are uploaded via online.

Was this review helpful? 23

PANKAJ , new delhi
Reviewed on Mar 15, 2020
"Best Service"

0.5 3.0/5 "Satisfactory"

I have taken Incred personal loan through online .When applied for this loan, rate of interest was less and later it was high this was the difficulty faced by me.without any delay this loan was sanctioned to me .The agent gave a clear picture about the loan process .I am satisfied with the service.

Was this review helpful? 13

UMESH , new delhi
Reviewed on Mar 15, 2020
"Good Service"

0.5 5.0/5 "Blown Away!"

My personal loan was availed through Incred the service was really fast .The rate of interest and the processing fee was medium .They have delayed to sanction this loan and it took extra 2 days this was the only issue, I wish them to verify the documents quickly other than that everything was good to me .

Was this review helpful? 7

SANJAY , new delhi
Reviewed on Mar 13, 2020
"Satisfactory"

0.5 5.0/5 "Blown Away!"

I have taken personal loan through Home Credit India Finance Pvt Ltd. The rate of interest and the processing fee was too high but the service was good .This loan was processed on proper time frame . I have submitted the documents through the agent but my number was not registered on home credit customer service so its not easy to reach them.

Was this review helpful? 10

JITESH , new delhi
Reviewed on Mar 12, 2020
"Excellent Service"

0.5 5.0/5 "Blown Away!"

I have take the loan for personal use and this loan got sanctioned on time The rate of interest and the processing fee was high since had requirement i have taken this loan.I have submitted the documents as well as uploaded documents . .Everything was good to me so far and there was no drawbacks faced so far .

Was this review helpful? 4

SHYAM , new delhi
Reviewed on Mar 12, 2020
"Need to decrease interest rate "

0.5 5.0/5 "Blown Away!"

I got a personal loan offer from INCRED. The process was done on time. The loan amount is sufficient of 1L same amount sanctioned with tenure period of 2 years. The rate of interest of 28% which is high they have not negotiate. EMI need to pay of 4,200 rupees.

Was this review helpful? 6

SHIV , new delhi
Reviewed on Mar 12, 2020
"Good Service and good loan provider"

0.5 5.0/5 "Blown Away!"

I have taken the personal loan from HDFC for the wedding purpose, because there were two banks were available for me based on my eligibility. They have sanctioned the loan on time and they have the facilities of part payment and pre closure with the normal charges. I'm happy about the interest rate as well.

Was this review helpful? 1

ANONYMOUS , new delhi
Reviewed on Mar 11, 2020
"Best service"

0.5 4.0/5 "Great!"

I have availed this Incred loan for my personal use .The rate of interest and the processing fee was very high since had requirement have taken .The premium is paid on emi basis paying on time.There was proper follow up and callback was there .I have submitted documents through the agent The process was smooth and faster i am satisfied with the service.

Was this review helpful? 0

PAWAN , new delhi
Reviewed on Mar 11, 2020
"Best Service"

0.5 5.0/5 "Blown Away!"

I have taken personal loan directly through Home credit India Finance Private Ltd.The rate of interest and processing fee was good .The loan amount got sanctioned on proper time frame. I have submitted documents through agent and this loan is still active .I will be closing this loan within 6 months .The loan process was clearly shared by the agent it was taken for my personal use .

Was this review helpful? 12

S KUMAR , new delhi
Reviewed on Mar 03, 2020
"Responble loan"

0.5 5.0/5 "Blown Away!"

My Axis loan process was very smooth. Its been 4 months, i took this personal loan and actually I was having a savings account over there so interest rate was less at that time and got this special offer. I have been paying the EMI amount of Rs. 9500 approximately. They do have a part payment and pre-closure facility. They are caring for the customer and the the loan was disbursed in a short span of time.

Was this review helpful? 61

SHAHWAZ , new delhi
Reviewed on Mar 03, 2020
"Average Service"

0.5 2.0/5 "Expected more"

I have taken Incred personal loan through online. This loan got sanctioned on time and the rate of interest and the processing fee was ok but cheque bounce charges was deducted while availing this loan without any intimation. According to my experience, their service was average.

Was this review helpful? 1

PAWAN , new delhi
Reviewed on Mar 02, 2020
"Very Good Loan services"

0.5 5.0/5 "Blown Away!"

I have taken my personal loan 2 months back and HDFC have sanctioned my personal loan immediately. They have offered me a convenient interest rate. I have selected the duration of 3 years. I pay the EMI amount of Rs. 6000 approximately for the loan amount of Rs. 3 lakhs.

Was this review helpful? 2

MUKHERJEE , new delhi
Reviewed on Mar 02, 2020
"Need to decrease interest charge"

0.5 3.0/5 "Satisfactory"

The rate of interest is high 18% which I have taken a personal loan from IDFC bank on 4 years back. The tenure period of 5 years with sufficient amount. At that time when I applied in CAPITAL FIRST but now converted to this bank, processing fee was applicable. EMI need to pay of 5,600 rupees. There is pre closure was applicable after 1 year and I get remainder message on time.

Was this review helpful? 1

SHIV , new delhi
Reviewed on Feb 29, 2020
"Good servcie "

0.5 5.0/5 "Blown Away!"

I have taken a personal loan from INDUSIND Bank and the loan was Rs. 60K. It is a pre approved loan, since have an account with this bank so i got this offer. EMI, i am paying around Rs.2500 and the tenure is 3 years. Their customer service and responsiveness was good.

Was this review helpful? 3

S , new delhi
Reviewed on Feb 27, 2020
"Excellent card"

0.5 5.0/5 "Blown Away!"

From INCRED, i have taken a personal loan and the loan amount was Rs. 1.50L. The rate of interest was not sure and emi need to pay of Rs.8500 for the tenure of 2 years. Documentation was very easy, i uploaded through online and executive came office to collect few papers within a month i received the loan.

Was this review helpful? 0

SUSHMA J , new delhi
Reviewed on Feb 27, 2020
"Good Loan Service"

0.5 5.0/5 "Blown Away!"

My salary is getting credited in HDFC bank thats the main reason for choosing my personal loan from HDFC bank. I applied the loan amount of Rs. 2 lakhs and they charged me a processing fee of Rs. 9200. I have been paying the EMI amount of Rs. 7160 for the duration of 3 years. I have given all my documents even though i'm a existing customer.

Was this review helpful? 0

JAVED , new delhi
Reviewed on Feb 25, 2020
"Very Good Service"

0.5 3.0/5 "Satisfactory"

I have applied for Indusind bank personal loan through online .I have not taken the loan since arranged the amount by myself and the requirements are fulfilled. The rate of interest and the processing fee was was not an issue .I have not given any of my documents to the bank.

Was this review helpful? 1

SANJAY , new delhi
Reviewed on Feb 19, 2020

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Personal Loan in New Delhi

New Delhi Personal Loan Interest Rates and Details

Documentation needed to apply for an New Delhi Personal Loan

Personal Loan in New Delhi

Personal Loan Interest Rates in New Delhi

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

Salary requirements to avail Personal Loans in New Delhi

FAQs on New Delhi Personal Loan

Disclaimer

New Delhi Personal Loan Reviews