• Patiala Personal Loan

    One of the largest cities in Punjab, Patiala has a large number of banks that offer financial products such as personal loans at competitive terms and conditions. With HDFC Bank, Axis Bank, Citibank, HDB Financial Services and other top banks and financial institutions, residents of Patiala have plenty of options to choose from when it comes to availing a personal loan in the city.
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    We found 19 Patiala Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.50% One time fee
    Up to Rs.40L
    1 - 5 Years
    Ad 100% PAPERLESS APPROVAL
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    Customer Reviews
    11.00% - 16.75% Fixed
    Up to 3.50% One time fee
    Up to Rs.5L
    Up to 5 Years
    Ad 100% PAPERLESS APPROVAL
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    Fees & Charges
    Good to Know
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    Customer Reviews
    15.00% - 21.00% Fixed
    3.00% One time fee
    Rs.1L - Rs.3L
    Up to 3 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
    What you'll love
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    Fees & Charges
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    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Customer Reviews
    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
    What you'll love
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    Perks
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
    What you'll love
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    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
    What you'll love
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
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    Patiala is one of the biggest cities in Punjab. It’s the state’s educational hub. Patiala is also the fast emerging industrial growth center of the state of Punjab.The city has one of the highest number of vehicles per capital in the country, beating metropolitan cities and most 2 tier cities.The whole state of Punjab is quite urbanized and Patiala is another example of that urbanization

    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 Patiala 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

    Patiala Personal Loan Interest RatesUpdated on 01 Oct 2022

    Patiala Personal Loan Details
    Interest Rate (Monthly reducing balance) 9.30% - 36%
    Processing Fees 0%- 6%
    Loan Tenure 1 year to 7 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loan in Patiala Overview

    There are various banks and NBFCs in the city of Patiala which offer personal loan to their customers along with other financial products. You can check the interest rate offered by each bank and NBFCs and based on your need and suitability avail a personal loan from a bank of your choice.

    Personal Loans offered by various banks in Patiala

    Some of the financial institutions that are located in Jamshedpur that offer personal loans at attractive interest rates are listed below:

    • HDFC Bank
    • Citibank
    • Kotak Mahindra
    • IndusInd Bank
    • Standard Chartered

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

    Before availing a personal loan from Patiala there are few things that you will have to keep in mind in order to ensure that you are successfully able to avail a loan for yourself.

    • Maintain a health credit score: First of all, your credit score plays a very important role. It is important that you maintain a credit score of 750 and above so that not only are you able to avail a personal loan of your choice but also able to pay lower interest rate on your loan amount. Higher your credit score, lower your interest rate will be.
    • Clear your previous loans: Before applying for a personal loan, make sure you have cleared any existing loan and your credit card bills. This will ensure your credit score doesn’t drop.
    • Conduct a proper research before applying for a loan: You must conduct proper research regarding the personal loan offered by various banks. You must check not only the interest rate offered but also the maximum loan amount, repayment tenure, and any other fee charged by the bank. Do check if there any other benefits offered by the lender and based on your needs and suitability choose a bank from whom you wish to avail a personal loan. You can then either apply for a personal loan online or offline.

    Personal Loan Interest Rates in Patiala 2022

    Bank Processing Fee Interest Rate Loan Amount Tenure
    Citibank 1% to 2.5% 9.99% - 16.49% (Fixed) Rs.30 lakh 1-5 years
    IDFC FIRST Capital Up to 3.5% (OTF*) 10.49%-22% Rs.40 lakh 1-5 years
    Standard Chartered Nil 11.49% p.a. onwards Rs.50 lakh 1-5 years
    HDBFS At the discretion of the lender Up to 36% p.a. Rs.20 lakh 1-5 years
    TATA Capital 2.75% 10.99% onwards Rs.25 lakh 1-6 years
    IndusInd Bank 2.5% of the loan amount 11.00% onwards Rs.15 lakh 1-5 years
    HDFC Bank Up to 2.5% (OTF) 10.5%-21% (Fixed) Rs.40 lakh 1-5 years
    Aditya Birla Up to 2% of the loan amount 14% to 26% (Fixed) Rs.15 lakh 1-3 years
    Fullerton 0% to 6% (OTF) 11.99% - 36% Rs.25 lakh 1-5 years
    HDBFS Business Loan 2% (OTF) 10.5% p.a. onwards Rs.30 lakh 1-4 years
    Kotak Mahindra Up to 2.5% 10.25% onwards Rs.20 lakh 1-5 years
    Bank of India 2% of the loan amount subject to Rs.1,000 to Rs.10,000 (GST not included) 10.35% - 12.35% Rs.2 lakh 1-3 years
    Bank of Baroda 2% of the loan amount subject to Rs.1,000 to Rs.10,000 (GST not included 10.50% - 12.50% Rs.50,000 to Rs.15 lakh 1-5 Years (Max)
    BOM 1% (Min. Rs.1,000) 9.45% p.a. -12.80% p.a. Rs.20 lakh 1-7 years
    Central Bank 1% of the loan amount 9.85% -10.05% p.a. Rs.10 lakh 4 years
    IDBI Bank 1%+S.T. (OTF) Up to 10.90% (Floating) Rs.50,000 to Rs.5 lakh 1-5 years
    IOB Up to 0.5% of the loan amount 10.50% p.a. Up to Rs.5 lakh 1-5 years
    Karur Vysya 1.5% (OTF) 11.00% to 19% Up to Rs.10 lakh 1-5 years
    SBI 1.5% (OTF) 9.60% - 15.65% Up to Rs.20 lakh Up to 72 months
    Union Bank At the discretion of the bank 9.30% p.a. onwards Rs.15 lakh Max. 1-5 years
    UCO Bank 1% (Min. Rs.750) OTF 10.05% to 10.30% Rs.15 lakh 5 years
    RBL Bank Up to 3.5% of the loan value 14% p.a. - 23% p.a. Up to Rs.20 lakh 1-5 years
    Yes Bank Up to 2.5% (OTF) 10.99% onwards (Fixed) Rs.40 lakh (Max) 1-5 years

    *OTF – One Time Fee

    Salary Requirements to avail Personal Loans in Patiala

    There are certain salary requirements that you will have to fulfill in order to successfully avail a personal loan. You need to earn a certain salary so that you can avail a loan. However, salary requirement can differ from bank to bank. The bank checks your salary in order to determine your capability to repay the loan on time. The salary requirements needed to repay a loan amount has been listed below:

    • Your age should be anywhere between 21 years and 60 years.
    • You should have resided in Patiala for a minimum of 1 year.
    • If you are a salaried person, then your minimum monthly income should be Rs.15,000. This minimum requirement will vary from one bank to another.
    • You will be required to submit a couple of documents like bank statements, address proof, identity proof, etc.
    • You need to have a minimum work experience of 2 years.

    FAQs for Personal Loan in Patiala

    1. How much loan can I avail?
    2. The amount that you can avail will depend on various factors such as your income, whether you are a salaried or a self-employed person, credit score, loan amount you are planning to avail, etc. The maximum loan amount offered will differ from bank to bank.

    3. What is the difference between floating and fixed interest rates?
    4. If you opt for a fixed interest rate, then your interest rate will remain fixed throughout the repayment tenure regardless of whether the bank increases or decreases their interest rates. In case of floating interest rate, the interest rate charged on your loan will depend on the current interest rate charged by the lender. Hence, if the bank increases their interest rates, then the rate of interest charged on your loan will increase.

    5. What is the difference between prepayment and preclosure of personal loan?
    6. Prepayment - This indicates that you have cleared off a part of the loan before it became due according to the EMI schedule. Prepayment charges vary between 2-5% of the outstanding loan amount. Several banks, however, do not allow their applicants to prepay their loan until a speified number of EMIs have been paid.

      Preclosure - This indicates that you have completely cleared your loan before the end of the loan tenure. Preclosure charges may vary from 2-5% of the loan amount.

    7. How long does it take to receive an approval for my loan application?
    8. The time taken to approve your loan will differ from bank to bank. They may take anything between 2 days and 2 weeks to sanction your loan. It is important that you ensure that you submit correct documents and all the details provided by you are authentic. The bank will verify the documents and if everything is fine, they will sanction it. The loan amount will then be disbursed within 7 working days.

    9. Why are my initial EMIs not reducing the principal amount significantly?
    10. A huge part of the initial EMIs payable is set off against the rate of interest you will have to clear. This is known as front loading; hence you pay a small part of your loan amount during the in the initial repayment period. As you progress, the interest charged on your EMIs reduces significantly. This is the reason, why a major portion of your EMI is used to pay off the loan principal.

        

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    Patiala Personal Loan Reviews

    • Axis Bank
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken through Axis Bank.still this loan is active and the rate of interest and processing fee was medium .This loan was availed for personal use and it was a paperless approval since have saving account ,loan got sanctioned on proper time frame .This loan was availed for my personal use.
      Was this review helpful? 171
      , patiala
      Reviewed on Mar 20, 2020
    • HDFC Bank
      HDFC Bank
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .I have not taken this loan since no payslips.I was not having any issues with the rate of interest ad the processing fee.The agent shared all the relevant details about the loan process .The service was satisfied when applied for this loan.
      Was this review helpful? 0
      , patiala
      Reviewed on Dec 03, 2019
    • HDFC Bank
      "Not satisfied "
      0.5 1.0/5 "Really Bad"
      I have applied for HDFC Bank personal loan through Online .But I have not taken this loan since procedures are more .I have got information as need to provide bank statement and later intimated as need to submit salary slip and after that got an update as need to submit some extra documents again hence not process for further. I was not having any issues with rate of interest .The agent has given all relevant details about the loan process.
      Was this review helpful? 0
      , patiala
      Reviewed on Nov 08, 2019
    • HDFC Bank
      "Average Service"
      0.5 1.0/5 "Really Bad"
      I have applied for HDFC Bank personal loan through Online .I have not taken this loan since there was no requirement.I have got all the details about the loan process very clearly through the agent.I have not got any information about the rate of interest .I have not submitted any of my documents for this loan.
      Was this review helpful? 0
      , patiala
      Reviewed on Oct 24, 2019
    • HDFC Bank
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since it was not processed from bank end .I have not submitted any of my documents,The agent gave all the information about the loan process ,I have got all the information abut the loan process very clearly through the agent.
      Was this review helpful? 0
      , patiala
      Reviewed on Oct 13, 2019
    • HDFC Bank
      "Good Service"
      0.5 2.0/5 "Expected more"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since the rate of interest was high .The rate of interest will vary once apply and it will be different if receive callback from bank end that is the only drawback.I have got a clear picture about the loan process and also submitted the required documents as well.
      Was this review helpful? 1
      , patiala
      Reviewed on Sep 24, 2019
    • HDFC Bank
      "Average Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since there was no requirement and the rate of interest was high .I have not submitted any documents .I have got a clear view about the loan through the agent .There was proper callback and follow up from bank end.
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 21, 2019
    • HDFC Bank
      "cheaters "
      0.5 1.0/5 "Really Bad"
      I choosen selected HDFC personal loan amount 1.20 lakhs Rate of interested 18 percentage is high , tenure 2 years based on my credit card no need to submit any documents to them. Just checking the eligibility about Rate of interest all details in website OTP is not received is not secure .i didnt receive any calls from banker end suddenly it got loan amount credited to my account .Customer service is not good and responsive.
      Was this review helpful? 0
      , patiala
      Reviewed on Aug 05, 2019
    • HDFC Bank
      "HDFC is a good brand"
      0.5 3.0/5 "Satisfactory"
      I have a bank account with HDFC thats why i have chosen HDFC for my personal loan also. HDFC services is quite good. They have provided me a interest rate of 15% and actually it was not okay for me because i got the lesser rate of interest from other bank hence i have rejected the loan from my end. There is a separate terms and conditions are there for a bank.
      Was this review helpful? 0
      , patiala
      Reviewed on Jul 05, 2019
    • HDFC Bank
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      I have applied a Hdfc bank personal loan. The loan amount was Rs. 490000.I have not submitted any documents to the bank.I have changed my mind not to apply loan so it got rejected from bank end. Customer service and responsiveness is really good.
      Was this review helpful? 0
      , patiala
      Reviewed on Mar 19, 2019
    • Capital First
      "Good service "
      0.5 5.0/5 "Blown Away!"
      I had requested for a personal loan with capital first for a loan amount of four lakhs. The Rate of interest is very high as compared to other banks.I have postponded my plan may be in the near future I might opt for their service hence closed my application. Customer service has responded well on time.
      Was this review helpful? 0
      , patiala
      Reviewed on Nov 01, 2017
    • HDFC Bank
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with HDFC 1 years back. I have taken 3.5 lakhs and the rate of interest was 11.75% which was average and the EMI period was 5 years. Here I had a very convenient loan process and they have provided door step service for collecting documents. The pre closuer is after 6 months and 1% for processing fee.My overall experience was excellent here.
      Was this review helpful? 0
      , patiala
      Reviewed on Oct 30, 2017
    • SBI
      "GOOD "
      0.5 4.0/5 "Great!"
      Over all it was a great service and an exellent service i am receiving from the bank when i applied for the personal loan in STATE BANK OF INDIA . The customer service was really good from the bank side. The only problem i had was the process took too much of exta time rest every thing was real good .
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 26, 2017
    • Axis Bank
      "average"
      0.5 2.0/5 "Expected more"
      The all over experience and the service i had with AXIS BANK for the personal loan didn't go that well as i expected it will be . i asked a loan ammount of 6lakhs but the AXIS BANK approved me a loan for 3 lakhs only and also the rate of interest was 12.49% and there was no processing fee .
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 26, 2017
    • HDFC Bank
      "Good"
      0.5 4.0/5 "Great!"
      It was a great service and experience i from the HDFC BANK side for my Personal loan i applied for . actaully before i applied for the personal loan over here i applied it in another bank it got apporoved faster over there so went on with a that option. So is the reason i did not take the personal loan .
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 26, 2017
    • SBI
      "DISSATISFIED"
      0.5 2.0/5 "Expected more"
      I have an salaried account here at SBI so getting better service and the interest rate I thot it will minimum SBI Bank offered me a personal loan with 14% I would suggest them to reduce that interest part but On the promised time I received the loan amount. I had taken this loan in 2014.
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 24, 2017
    • HDFC Bank
      "Better Service"
      0.5 4.0/5 "Great!"
      I had taken the personal loan from HDFC bank about one and a half years ago. Interest rate is somewhere around 13%. Recently I visited the bank to top up the loan up to 2.6 lakhs but the bank did not accept my request. Though I am a long term customer of HDFC bank, I have savings account, 2 mutual funds, credit cards and personal loan, the bank is not willing to give loan top ups. Very disappointing.
      Was this review helpful? 1
      , patiala
      Reviewed on Jun 08, 2017
    • Oriental Bank of Commerce
      "Good"
      0.5 4.0/5 "Great!"
      I got the required response from the team.The process was absolutely fine with OBC for a personal loan with 30k on charges applied and its a pretty good experience .I had taken this loan long ago during the year 2009 they had offered me ROI but not sure how much it was even they had charged me some processing fee too.
      Was this review helpful? 0
      , patiala
      Reviewed on Apr 04, 2017
    • Oriental Bank of Commerce
      "Good"
      0.5 4.0/5 "Great!"
      It was great experience with Oriental Bank of Commerce regarding the personal loan application.I required the loan so I have taken the same.The follow up provided was great.They have made a call very soon.Everything was good so no suggestion required for them. It was 2.50 years back.
      Was this review helpful? 0
      , patiala
      Reviewed on Apr 04, 2017
    • Fullerton
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      This is my third best experience with Fullerton . It was in an organized way and the best part was they were able to process my personal loan request quickly . Interest charged by Fullerton was around 30% and the processing fee was nominal. I am very much happy with Fullerton and its services.
      Was this review helpful? 0
      , patiala
      Reviewed on Apr 04, 2017
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