Noida is a leading city in the state of Uttar Pradesh. Noida is the short form for New Okhla Industrial Development Authority. This city was formed after systematic planning. It is a satellite city of Delhi and belongs to the National Capital Region of India. The city is well-equipped with tech parks, office complexes, and malls.
Personal loans are widely available in the city of Noida. You can apply for one through online or offline modes depending on your preference. The city has a number of banks and non-banking financial companies (NBFCs) that provide personal loans for different tenures.
You can compare interest rates, processing fees, and other charges and then select the most suitable loan that meets your preferences and requirements. You do not have to furnish any collateral for a personal loan. They are easily available and are economical. You only have to ensure that you meet your lender’s eligibility criteria before applying for a loan.
|Interest Rate (Monthly reducing balance)||8.45% - 36%|
|Processing Fees||0% - 6%|
|Loan Tenure||1 year to 6 years|
|Pre-closure Charges||2% - 5%|
|Guarantor Requirement||No guarantor required|
Noida, otherwise known as New Okhla Industrial Development Authority, is a major city located on North India and is a part of the national capital city. Noida is growing at a very fast pace, given the volume of It companies, industrial offices, BPOs etc. that dot the place. Due to this, more and more people are migrating to the city not just in search for better job prospects but also looking for better quality of lifestyle.
Despite people earning well, the need for funds arises some time or the other, especially when one wants to make a high-end purchase like a new laptop, home theatre system or a mobile phone. Funds are also needed when one wants to fund a long-awaited family vacation, for renovating their house or to pay for a wedding or a family function. Personal loans also come in useful when one may have to pay off some debts or for a medical emergency. To help customers take care of such needs, several banks and financial institutions offer personal loans.
Let us take a look at some of the top banks as well as non-banking financial companies (NBFCs) that offer personal loans in the city of Noida:
When getting a personal loan, there are a few things that you must keep in mind in order to ensure that the lender gives you the best rate on the loan. Here are a few tips:
Credit Score – Before you apply for a personal loan, make sure that you have a healthy credit score. Since personal loans are unsecured, your credit worthiness acts as your security. The higher your credit score, the lower your interest rate is likely to be.
Choose Carefully – There are a large number of lenders who will be willing to provide a personal loan to you. However, make your choice carefully and select the one which closely fits your requirements.
Assess Your Need Before – Before you apply for a personal loan, calculate the amount that you actually need. Since interest on personal loans is usually higher than other loans, a higher than necessary loan amount means that you will have to pay interest on it as well.
|Bank||Personal Loan Interest Rate|
|Citibank||9.99% - 16.49% (fixed)|
|ICICI Bank||10.50% - 19.00%|
|HDFC Bank||10.50% p.a. -21.00% p.a.|
|IndusInd Bank||11% p.a. onwards|
|Kotak Mahindra||10.25% onwards|
|Bank of Baroda||10.50% - 12.50%|
|Bank of Maharashtra||9.45% p.a. -12.80% p.a.|
|Bank of India||10.35% to 12.35%|
|Canara Bank||12.40% onwards|
|Central Bank||9.85% - 10.05%|
|IDBI Bank||9.50% p.a. - 14.00% p.a.|
|Indian Overseas Bank||9.30% - 10.30%|
|Yes Bank||10.99% onwards|
|Union Bank||8.90% to 13.00% p.a.|
|UCO Bank||9.45% p.a. onwards|
|Tamilnad Mercantile Bank||8.45% p.a. onwards|
|State Bank of India||9.60% - 15.65%|
|Aditya Birla||14% to 26% p.a.|
|Fullerton India||11.99% to 36% p.a.|
|Citibank||9.99% - 16.49%|
Salary Requirements to avail Personal Loans in Noida
When it comes to personal loans, the income requirements usually differ from lender to lender. Some banks may require you to have a lower minimum income to apply for a personal loan while others may have a slightly higher margin for minimum income. Not just this, the minimum income requirement is usually also different for different categories of borrowers. Following are the minimum salary requirements for salaried and self-employed borrowers.
A personal loan is an unsecured loan provided by lenders which does not require any collateral or security.
Yes, you can use a personal loan to furnish the interiors of my house.
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.
Lenders usually charge a processing fee ranging from 0.5% to 2.5% on the overall loan amount.
Unsecured loans like personal loans are those which do not require any collateral or security to be pledged in exchange for the loan.
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