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  • New Delhi Personal Loan

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  • 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 17 New Delhi 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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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    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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    Perks
    Think about
    Fees & Charges
    Good to Know
    Customer Reviews
    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
    What you'll love
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    Perks
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    Fees & Charges
    Eligibility Criteria
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    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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    Perks
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    Fees & Charges
    Good to Know
    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
    What you'll love
    Documents
    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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    Perks
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    Fees & Charges
    Good to Know
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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
    Documents
    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
    What you'll love
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
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    Perks
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    Eligibility Criteria

    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 21 Oct 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.

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

        

    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

    • Incred Personal Loan
      "Not Satisfied"
      0.5 1.0/5 "Really Bad"
      I have applied for Incred personal loan through Online.The rate of interest was high hence not availed tis loan .The agent gave all the relevant details about the loan process very clearly .Customer service is also good and there was no issue when sumitted the documents.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 16, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .I was unable to avail this loan since my salary was got on delayed for the past 3 to 4 months hence dropped the plan.There was no difficulties with the rate of interest and the processing fee.I have got all the details about the loan process very clearly through the agent.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 14, 2019
    • Citibank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Citi Bank personal through Online .The rate of interest and the processing fee was very high.I have not taken this loan due to high rate of interest ,I have not submitted any of my documents .There was callback and follow up from bank end .I am really satisfied with the service so far .
      Was this review helpful? 3
      , new delhi
      Reviewed on Oct 12, 2019
    • IndusInd Bank Personal Loan
      "Not Satisfied"
      0.5 1.0/5 "Really Bad"
      I have applied for Indusind Bank personal loan through Online .I have got all the required details about the loan process through the agent .There was no proper callback and follow up from bank end hence not taken this loan.The rate of interest was ok and also the process was not satisfied .
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 12, 2019
    • Fullerton Personal Loan
      "Average"
      0.5 1.0/5 "Really Bad"
      I had applied for personal loan from Fullerton. I had submitted my documents online but no one came for verification. Their rate of interest was very high in comparison to other bank so I asked them to close my application. I have arranged the money from another source.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 12, 2019
    • Kotak Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for Kotak Mahindra Bank personal loan where it was been disbursed to my account in 10 working days, rate of interest was little high compare to other Banks, customer service is good and had gave me with the tenure of 24 months which was good.
      Was this review helpful? 2
      , new delhi
      Reviewed on Oct 11, 2019
    • Shubh Loans Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have availed personal loan througn Shubh loans online .I have got the loan amount on appropriate time .I have got all the information about the loan process through the agent.The rate of interest and the processing fee was very high ,There was proper callback and follow up as well .I am really satisfied with their service .
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 11, 2019
    • EDELWIESS Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Edelweiss Retail Finance Limited Personal loan through Online .I have got this loan on delay basis and got the reason for the delay .I have got the loan amount on time and it was sufficient as well .The rate of interest and the processing fee was nominal.I have uploaded documents as well as submitted the documents.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 11, 2019
    • EDELWIESS Personal Loan
      "Very Bad loan service"
      0.5 2.0/5 "Expected more"
      Its because of the high interest rate i am not happy with their loan services. They have provided me a interest rate of 32%. I had applied the loan amount of Rs. 90000 and they have sanctioned the loan in 3 days. There was no processing fee. I have been paying the EMI amount of Rs. 4300. They do not have the pre-closure and part payment facility.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 11, 2019
    • Incred Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had applied personal loan from Incred. I submitted my documents online as well as hard copy to their executive. Rate of interest is very high and they charged Rs. 5000 for processing fee. I received the loan on time and loan amount is sufficient.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 11, 2019
    • Incred Personal Loan
      "Better Loan"
      0.5 4.0/5 "Great!"
      The Loan service is good but the interest rate is very high because it is 28% which has to reduced. Since its because of emergency, i took the loan. I got frequent loan so i have chosen the Incred for my personal loan. I had opted the loan amount of Rs. 1.80 lakhs and They gave me a tenure period of 2 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 11, 2019
    • Incred Personal Loan
      "Need to decrease interest charges"
      0.5 3.0/5 "Satisfactory"
      Once I was applied for a personal loan with INCRED through an on line. I received a call on time. At an initial they have offered for 24% from their end, but later they have given charge for 26% for interest, I couldn't able to discrepancy for interest as well. They took more than 10 days to sanctioned the loan. The amount was given for a low for tenure of 2 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 10, 2019
    • Incred Personal Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      There is no reason for choosing my personal loan from Incred. I bought the loan amount of Rs. 50000 and i have selected the tenure period 12 months. I have been paying the EMI of Rs. 3600 approximately. They have credited the amount in my account within 1 week.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 10, 2019
    • Incred Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      Incred is giving me a good rate of interest so i bought the loan from them. I got the interest rate of 17%. Got the loan amount of Rs. 1 lakhs and there was processing fee of Rs. 2500. I have been paying the EMI of Rs. 3800. They took 15 days for the whole process and the documentation process was smooth.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 10, 2019
    • Incred Personal Loan
      "Medium"
      0.5 4.0/5 "Great!"
      For the personal loan which I was taken from INCRED on few months before interest charges are medium. On time I received a call from their end for further verification. Within one week they have sanctioned a loan. The loan amount was sufficient for the tenure period of 2 years. Further manually I have provided all the required documents.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 09, 2019
    • Incred Personal Loan
      "Need to be process at earlier"
      0.5 3.0/5 "Satisfactory"
      I received a call from INCRED on time once I had applied for a personal loan. But the process was delay once I provided all my required documents. They have offered for 60 thousands but sanctioned of 50 thousands for the tenure period of 2 years. The rate of interest was okay. They have sanctioned a loan within few days.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 09, 2019
    • Incred Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have availed personal loan through Incred Online .There was no difficulties faced when applied for this loan .I have got all the relevant details about the loan process through the agent very clearly .There was no drawbacks faced so far,callback and good response was there from Incred and got the loan amount on time .
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 09, 2019
    • Incred Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from INCRED which I applied online. Loan amount is not sufficient, I applied for 3 lakhs and got only 2 lakhs. Rate of interest is normal but processing fee is very high. I had submitted my documents online and verification was smooth.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 08, 2019
    • HDFC Bank Personal Loan
      "Service is not upto the mark"
      0.5 1.0/5 "Really Bad"
      I need personal loan so i applied in HDFC but no one turned up for the verification process. They have offered me a interest rate which is as minimum i can get. I had applied the loan amount of Rs. 5 lakhs. Overall, I'm not at all satisfied with service provided by HDFC.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 06, 2019
    • HDFC Bank Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I had applied personal loan from HDFC Bank online. Their rate of interest was nominal. I don't have an account with HDFC bank so they have closed my application. I submitted my documents online. Their executive did not come for verification.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 05, 2019
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