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  • Personal Loan: Compare & Apply Online

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  • Compare between 40+ banks and apply for the best personal loan. Choose best personal loan offered by Top banks along with their interest rate, processing fee, foreclosure charges and latest offers. Avail personal loan on Bankbazaar for weddings, travel, home renovation, or an emergency financial requirement.

    Best Personal Loan Interest Rates in India

    Bank Interest Rate(p.a.) Processing Fee
    Citibank 10.50% - 17.99% Up to 3% (Min. Rs.999) + GST
    Kotak Mahindra 10.50% - 16.99% Up to 2.5% + GST
    IndusInd Bank 11.00% – 16.75% Nil
    ICICI 11.25% - 22.00% Up to 2.25% + GST
    HDFC 10.75% - 21.45% Up to 2.5% (minimum Rs.2,999 and maximum Rs.25,000)
    Bank of Baroda 11.70% - 16.70% Up to 2% + GST (minimum Rs.1,000 and maximum Rs.10,000)
    Tata Capital 10.99% - 15.49% Nil
    SBI 12.05% - 17.10% 0 - 1% + GST
    Ujjivan Small Finance 16.50% - 20.00% Up to 2% or Rs.2,000 (whichever is maximum)
    More
    We found 17 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
    What you'll love
    Documents
    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
    Documents
    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
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    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
    Documents
    Perks
    Think about
    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
    Documents
    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
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    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
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    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
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    If you are looking for a Personal Loan, Compare various banks that provide credit at attractive interest rates, easy EMI options, and low processing fees. Check for secured as well as unsecured loan options and get instant access to funds and finance your immediate needs.

    Best Personal Loan Offers 2019

    Bank Best for
    CitibankLow Interest Rate
    HDFC BankSelf Employed Professionals
    Kotak Mahindra BankQuick Turnaround Time
    TATA CapitalFlexible Interest Rates
    Fullerton IndiaInstant Approvals
    ICICI BankNRIs
    Standard CharteredShort Term
    Capital FirstTop-up Loans
    IIFLEasy Eligibility Checks
    HDB Financial ServicesSpecial Offers

    Best Instant Loans 2019

    Lender Approval Interest Rate
    PaySense 2 business hours 13% p.a. Onwards
    Shubh Loans 24 Hours 25% - 32% p.a.
    Home Credit 30 minutes Based on lender’s terms
    Rupeelend 30 mins 30% for 30 days
    CASHe 24 hours 1.75% p.m. onwards
    Credy 1 minute 1% - 1.5% p.m.
    EarlySalary 24 hours 2.5% p.m.
    LazyPay 24 hours 2.5% p.m.
    mPokket 24 hours Based on lender’s terms
    MoneyinMinutes 5 Minutes 0.1% - 0.7% per day
    QuickCredit 1 hour 1% per day
    FlexSalary 1 hour Up to 3% per month

    A Comprehensive Guide To Instant Loan

    Citibank – Best for Low Interest Rate

    Key Highlights
    • Low Interest rates for Salaried as well as Self-employed applicants
    • Funds will be credited to your bank account within 48 hours
    • Minimal documentation and Instant approval for existing Citibank customers
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    10.50% onwards Rs.2,174 Up to 4% of the total principal outstanding amount plus interest for the month in which foreclosure is carried out Rs.1,32,425

    HDFC Bank - Best for Self Employed Professionals

    Key Highlights
    • Attractive Interest rates for self-employed individuals
    • Loan Disbursal in 10 seconds for pre-approved HDFC Bank customers
    • Flexible Repayment tenures extending up to 60 months
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    10.75% onwards Rs.2,187 13 to 24 months: 4% of principal outstanding
    25 to 36 months: 3% of principal outstanding
    More than 36 months: 2% of principal outstanding
    Rs.1,31,204

    Kotak Mahindra Bank - Best for Quick Turnaround Time

    Key Highlights
    • Minimal paper work
    • Competitive interest rates and convenient repayment options
    • Hassle-free and quick loan disbursal
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    10.50% onwards Rs.2,174 5% of principal outstanding as per reducing balance method on the date of repayment Rs.1,30,425

    Tata Capital – Best for Flexible Interest Rates

    Key Highlights
    • Quick and Easy finance at flexible interest rates
    • The loan can be used to finance a variety of needs like weddings, emergency medical expenses, etc.
    • Flexi EMI options that cater to your requirements, your budget, and your timeline.
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    10.99% Rs.2,187 4% of the principal outstanding plus GST Rs.1,31,204

    ICICI Bank - Best for NRIs

    Key Highlights
    • Collateral-free personal loans to NRIs for tenures extending up to 36 months
    • Get cash in your account in just three seconds
    • Minimal documentation plus hassle-free application process for quick disbursal
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    11.25% onwards Rs.2,187 5% of the total principal outstanding amount + GST Rs.1,31,204

    Standard Chartered Bank – Best for Short-term Requirements

    Key Highlights
    • Attractive Interest rates
    • Get Instant approval when you apply online
    • Flexible repayment tenures extending up to 60 months
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    10.89% onwards Rs.2,169 5% of principal outstanding as per reducing balance method on the date of repayment Rs.1,30,126

    Capital First – Best for Top-up Loans

    Key Highlights
    • An Ideal option, If you are looking to top up your Personal loan with an additional amount.
    • The repayment tenures of the loan are flexible, ranging from 12 months to 60 months.
    • The approval of the loan takes only around two minutes, thereby helping you save time and getting access to funds immediately.
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    12% Rs.2,224 5% of principal outstanding amount Rs.1,33,467

    Fullerton India – Best for Instant Approvals

    Key Highlights
    • Experience Quick and Easy approvals
    • The repayment options are flexible, with tenures extending up to 60 months.
    • The documentation process is also hassle-free, and existing Fullerton India customers are eligible for additional benefits.
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    12.49% Rs.2,249 3% to 7% of the principal outstanding amount depending on when the applicant opts for foreclosure Rs.1,34,957

    IIFL – Best for Easy Eligibility Checks

    Key Highlights
    • The eligibility check can be completed in one minute, and the online approval takes no more than five minutes post the submission of your documents.
    • The loan amount will be disbursed and transferred into your bank account within just eight hours.
    • The documentation process is also fairly simple and the paperwork involved is minimal, thus helping you save on time and effort.
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    13.49% Rs.2,300 Up to 6% of the principal outstanding amount Rs.1,38,028

    HDBFS - Best for Special Offers

    Key Highlights
    • Special offers for employees of certain companies.
    • The processing of the loan is quick and speedy, and no security or guarantor is required to avail the loan.
    • The repayment tenures are also quite flexible, ranging from 12 months to 60 months.
    Interest RateEMIForeclosure/Prepayment ChargesRepayment
    14.99% Rs.2,378 2% to 4% of the principal outstanding amount depending on when the applicant opts for foreclosure Rs.1,42,708

    *The calculation of EMI's and total amount payable is done assuming the loan amount to be Rs.1 Lakh and is taken for the Tenure of 5 years. Please note that interest rates vary depending on the income of the applicant and the amount borrowed.

    Personal Loan Eligibility

    Criteria Salaried Self-Employed
    Age 21 years to 60 years 22 years to 55 years
    Net Monthly Income Rs.15,000 Rs.25,000
    CIBIL Score Above 750 Above 750
    Minimum Loan Amount Rs.50,000 Rs.50,000
    Maximum Loan Amount Rs.25 lakh Rs.30 lakh

    Documents Required for Personal Loan

    Requirements Salaried Individuals Self Employed
    Proof of Identity Passport, Voter’s ID, Driving License or PAN Card Passport, Voter’s ID, Driving License or PAN Card
    Proof of Residence Passport or utility bills Passport or utility bills
    Proof of Income Bank statement of salary account for the past two years Audited financial statement of the past two years

    If you are an NRI looking to borrow a personal loan, these are the documents that you will need to submit to the lender:

    • Copy of your Passport
    • Visa Copy
    • Your official Email ID or the Email ID of the HR
    • Bank Statements
    • Salary Certificate or salary slips
    • NRO/NRE bank statements of the last 6 Months
    • Proof of Identity, Residence, Income, and Assets
    • Recent passport-size Photographs of yourself and the guarantors 

    Features and Benefits of Personal Loan

    • Borrow up to Rs.40 lakh, if not more.
    • Opt for a loan tenure of up to 5 years and repay your loan in easy instalments.
    • Submit your application through online or offline channels.
    • Minimal paperwork and documentation required.
    • No restrictions on how the loan amount can be used.
    • Affordable interest rates ranging between 10% p.a. and 24% p.a.
    • Helps in consolidation of debts.
    • Quick approval.
    • Pre-approved loan offers.

    Use BankBazaar Personal Loan EMI Calculator to Calculate EMI

    Calculate personal loan EMIs to understand how much money you will every month for repaying the loan.

    Tips for Successful Personal Loan Application

    • Assess the need for your personal loan
    • Do proper research to get the best rate for your personal loan
    • Check your credit history
    • Review the fine print on your loan document carefully
    • Choose your personal loan tenure by assessing your repayment ability
    • Choose an affordable interest rate
    • Select your personal loan amount as per your convenience
    • Check your EMIs properly
    • Compare the processing fee
    • Select fixed or variable interest rate according to your preference
    Do's Don'ts
    Do proper research before you apply for a personal loan Do not sign your loan documents without understanding every point
    Do read the fine print carefully Do not make multiple inquiries regarding personal loans from different banks
    Do save your money carefully when you are repaying Do not take a personal loan without any serious purpose
    Do pay your loan instalment promptly every single time Do not be in a hurry to end your loan comparison process
    Do evaluate your credit score thoroughly Do not forget to pay your loan instalments
    Do apply for an affordable loan amount Do not accept bad personal loan products

    Different Types of Personal Loans in India

    One can use your personal loan for any purpose as long as it is legal. However, there are certain lenders who provide different loan products on the basis of the purpose which is mentioned by the borrower in the personal loan application. On the basis of utilisation, these are the different types of personal loans which can be availed in India:

    1. Personal Loan for Wedding: As the name suggests, a personal loan which is offered particularly for the purpose of meeting the expenses of a wedding is a wedding loan.
    2. Personal Loan for home Renovation: A home renovation loan is a personal loan which can be availed to meet the expenses of repairing or renovating your home.
    3. Personal Loan for Vacations: A holiday loan is a personal loan which is especially designed for vacations. You can avail a personal loan for your vacation and pay the expenses on a later date through easy EMIs.
    4. Personal Loan for Pensioners: A personal loan which is specifically offered to pensioners is known as a pension loan.
    5. Personal Loan for Festivals: Certain lenders offer a personal loan exclusively for festivals. If you are looking for a loan to make arrangements for a festival, you can apply for a festival loan.

    Do not forget to check the eligibility criteria for the different types of personal loans before you apply for one.

    How to Improve your Chances of Getting a Personal Loan?

    • Credit Clean-up: One of the main factors taken into consideration by lenders is your credit score. Getting a personal loan is easier with a high credit score. If your score is low, you must check your reports to see if there are any errors. Sometimes, simple errors could have an adverse effect on your scores, and if you find any of these, you must report them to CIBIL.
    • Rebalancing your income and debts: Lenders ask for proof of income when you apply for personal loans in order to ascertain your debt-to-income ratio. Consider the sale of liquid assets like stocks or earning more through a part-time job to increase your annual income. Doing so will increase your debt-to-income ratio and increase your chances of getting a personal loan.
    • Consider Co-signers/Guarantors: Consider Co-signers/Guarantors: If you are finding it hard to get a personal loan on your own accord, you can apply for one by adding a co-signer or guarantor. The person you choose as a guarantor must have a good credit score. Their main aim is to guarantee that you will repay the loan. However, they will also be liable to repay the loan themselves if you are unable to do so. Picking an individual with a credit score over 750 will considerably increase your chances of getting a personal loan.
    • Limit Your Borrowing: It can be risky to ask for more money than you require to meet your financial targets. Make sure that you calculate how much you need and apply only for that specific amount.
    • Choose the Right Lender: Every lender has their own requirements when it comes to credit scores and income. When looking for personal loans, pick a lender whose eligibility criteria you meet and apply accordingly. The problem with applying with multiple lenders is that each of them will check your credit score, and each time your full credit report is pulled out, your credit score drops, albeit marginally.

    Pre-Payment and Part Payment of Personal Loan

    A personal loan is given for a stipulated time period. This period is known as the loan repayment tenure. After you have taken a loan, you are expected to pay the debt off by the end of the loan repayment tenure through EMIs. However, after availing a personal loan, if you decide to pay off your debt before the end of the loan repayment period, it is called pre-payment or foreclosure.

    Types of Pre-Payment:

    There are 2 types of pre-payment. They are – full pre-payment and part pre-payment or just part payment.

    1. Full Pre-Payment:

    If you are paying off the whole outstanding loan amount before the end of the loan repayment tenure, it is known as full pre-payment.

    Advantages of full pre-payment:

    • You can avoid paying hefty interest on your loan amount.
    • If you have the money to pay off your debt completely, you might as well get rid of the debt.
    • You can avoid paying pre-payment interest as well, if you have taken the loan from a lender who does not charge an interest on pre-payment of the loan.

    Disadvantages of Full Pre-Payment:

    • If your lender charges a penalty on pre-payment of the loan amount, you might have to pay a big chunk of money for pre-paying your loan.
    • Before you foreclose a personal loan, check the other factors related to it. Foreclosing a personal loan means that you would be paying out a huge sum of money at once. This might not always be the best option.
    2. Part pre-payment:

    If you are paying off a part of the outstanding loan amount before the end of the loan repayment tenure, it is known as part pre-payment.

    Advantages of part pre-payment:

    • You can choose to pay off a part of your outstanding loan amount if you have some readily available money.
    • Part paying your personal loan will reduce the outstanding principal amount which, in turn, will reduce the effective EMI amount.
    • The overall interest that you pay will also reduce significantly.

    Disadvantages of part pre-payment:

    • If you do not make the part payment soon enough, you will not be able to maximise your savings.
    • If your lender charges a fee for part payment of personal loans, you might have to spend a significant amount of money for the same.

    Other Fees & Charges related to Personal Loan

    1. Processing fee
    2. Goods and Services Tax or GST
    3. Verification charges
    4. Charges levied for issuing duplicate statement
    5. Penalty for defaults
    6. Penalty for pre-payment and part payment of loan

    In addition to these, the lenders might also levy charges for documentation, stamping, credit administration, collection, and so on. The levy and the rates of these fees and charges differ from lender to lender. However, you can check the fees and charges which are levied by the top lenders in India before you apply for a personal loan.

    Things to do After Closing a Personal Loan?

    If you have recently paid off your personal loan (either repaid or foreclosed), you might have the idea that your obligation towards the loan is over. However, that is not the case. There are certain things that you should do after paying off your personal loan.

    • The No Dues Certificate or NDC: The No Dues Certificate or NDC is issued by your lender once you pay off the debt. This is one of the most important documents that you should collect immediately after paying off your loan. It is also a wise decision to retain this document for an extended period of time. This certificate validates the repayment that you have made. Without this document you cannot prove that you have paid off your debts. In case you are looking forward to taking another loan in the near future, you will need this document to prove that your previous loan has been paid off. Usually, this document is issued on spot by your lender if you are paying off the final amount through hard cash. If you are paying via check or NEFT or any other means, the lender will issue the NDC and will either send it to your registered address or will ask you to collect it from the branch office of the lender.
    • The Statement of Account or SoA: The Statement of Account or SoA, along with the NDC will help you prove that your debts have been completely paid off and have been paid on time. This is an optional document which is often issued by certain lenders. If your lender provides this document, you should consider getting it. However, you should also look for any sorts of discrepancies in the credit score. If you find something wrong, you can use the SoA to make the necessary changes to it.
    • Collection of unused cheques: If you have some cheque leaves which have not been used, you should collect those as well. The collection of the No Dues Certificate and the unused cheque leaves, usually, marks the end of the closure process for the loan.
    • Check your credit score after closing the loan: This is just a recommendation. It is not compulsory to check the credit score after the closure process ends. However, it is recommended that you check the score to make sure there are no differences in the score. If there are some chances of you availing another loan within 1 to 2 years of the closure of the current loan, it is highly recommended that you check the credit scores right after the closure of the loan.

    Modes of Personal Loan Payment or Repayment

    There are a number of repayment modes which are offered by lenders. Although these modes might differ from lender to lender, the most common modes of repayment can be summed up as follows:

    1. Electronic Clearance System or ECS: The ECS or Electronic Clearance System is one of the most commonly used repayment methods. It is an electronic mode through which funds are transferred from one bank to another.
    2. Post Dated Cheques or PDCs: Post Dated Cheques, as the name suggests, are cheques which are issued by you for a future date. The lender will use these cheques on the mentioned date to deposit or encash the amount mentioned on it.
    3. National Automated Clearing House: The National Payment Corporation of India (NPCI) offers a program called NACH to all the banks and financial institutions. The NACH allows the processing of transactions in real time. This method can be used for your loan repayments.
    4. Debit mandate or standing instruction: You can give an instruction to your bank to pay off a particular amount of money to another bank or bank account at a regular interval. This is known as standing instruction or debit mandate. Your bank will be paying off the stipulated amount towards the repayment of your loan on a regular basis through this system.

    How to Check Personal Loan Status?

    There are two main modes of checking the status of your personal loan application. Most lenders offer both online and offline modes through which you can keep tracking your personal loan status.

    1. Online Mode: Most lenders offer the option of logging in to their official portal to help you track the status of your loan application. You can use the application number or reference number which is issued by the lender for this purpose. On the other hand, if you have applied for a personal loan through a third-party aggregator website such as BankBazaar, you can just log in to its web portal and track the status of your personal loan application directly.

    2. Offline Mode: If you are not comfortable using the online platform, you can also track the status of your personal loan application through the offline means. You can visit the branch office of your loan provider and check the status of your loan application. On the other hand, you can also connect with your lender over the telephone through their helpline or customer care number.

    For both these methods, you would be required to provide a few basic details such as your name and the application number or reference number. Head to BankBazaar to know more about how to track your personal loan status

    How to Get Personal Loan Statement?

    You can easily get in touch with your lender either through their online web portal or in person and request for your personal loan statement. On most lender websites, you can just log in using your online credentials and provide your loan account number. Once you have tracked your account, you can request for a statement which is either sent to your registered email ID or provided in the form of a PDF file which can be downloaded. Similarly, you can also visit the branch office of the lender from where you have availed the loan and place a request for a statement. In addition to that, you can raise a request for your personal loan statement through phone banking as well.

    How to Check Personal Loan Outstanding Balance?

    You can check the outstanding personal loan balance through your personal loan statement. Once you have received a copy of your personal loan statement, you can just check the outstanding balance on the statement itself.

    How to Avoid Rejection of Personal Loan Application?

    The approval of a personal loan application depends on a number of factors. When you apply for a loan, you should make sure that you are sufficiently fulfilling all the factors to ensure the approval of your loan application. The eligibility criteria for personal loans may vary from lender to lender, however, there are number of common criteria which include the age of the applicant, his or her income, credit score, status of employment, and so on. Before you apply for a loan, make sure that all the eligibility criteria are being fulfilled. This will help you avoid rejection of your personal loan application. Although there are other options which you can resort to in case your personal loan application gets rejected, it is recommended to double check before applying to avoid the chances of rejection of application.

    Top-up Personal Loan

    Offered by a number of financial lenders, as the name suggests, a personal loan customer can avail an additional loan amount through the top-up facility over his/her existing personal loan. The loan amount will be subject to the terms and conditions set by the financial lender, while the interest rate may be the same as the existing loan or could be up to 1% more than the interest rate of the current loan. The tenure of the top-up loan will be subject to that of the existing personal.

    Key features and benefits of a top-up personal loan

    • Existing personal loan customers are eligible for the loan top-up provided that they have paid their EMIs regularly and have no pending payments.
    • Quick or instant disbursal of the top-up loan amount.
    • Minimum documentation required.
    • Zero processing fee offered by a number of lenders.
    • No collateral required.

    Personal Loan Balance Transfer

    The personal loan balance transfer facility gives customers the benefit of transferring their existing loan to another financial lender. This can be done if the other financial lender is offering a better interest rate, if the tenure is a lot more flexible, if they wish for a personal loan top-up on their existing loan, etc.

    Key features and benefits of a personal loan balance transfer

    • Get a reduced interest rate on the existing loan amount.
    • Option to top-up the personal loan.
    • Avail flexible repayment options.
    • Avail benefits such as zero processing fee, waiver of last EMI benefit, etc.
    • To get better customer care service.

    Personal Loan Disbursal

    Personal disbursal is basically the process of the financial lender remitting the loan amount in the bank account of the customer. The personal loan disbursal takes place after the submission of relevant documents of the customer and the verification and approval of the financial lender. Financial lenders offer personal loan disbursals in a few seconds, while other take a few hours to a few days to disburse the loan amount following approval.


    Personal Loan FAQs

    What is a personal loan?

    A personal loan is a type of unsecured loan that that you can borrow from a bank or financial institution if you require funds to pay for your financial needs.

    How does a personal loan work?

    You borrow a personal loan when you are in need of credit. Once you submit your loan application to a lender for a personal loan, the lender verifies and approves it. Post this, the loan amount is disbursed into your bank account. Once you receive the loan amount, you will need to repay the lender via EMIs over the course of the loan repayment tenure.

    What is an EMI?

    EMI or Equal Monthly Installment is the amount that a borrower pays each month towards an outstanding loan to clear off the debt within a specific time frame. EMI includes principal and interest.

    What is a credit score? Why is it important?

    A credit score or rating is a number that indicates how you repay debt. It is important because your score determines whether you qualify for loans, credit cards, and other credit facilities.

    How does my credit score impact the calculation of my loan amount?

    Your credit score is an indicator of how you handle your finances. It considers your credit card bill payment history, repayment of past and current loans, and other criteria. Your credit rating tells lenders how likely you are to repay them if they grant you a loan. The better your credit score, the better the chances are of getting a higher loan amount.

    What is the maximum amount of loan I can get?

    The maximum amount of loan depends on your monthly income. In India, there are lenders who offer up to Rs.40 lakh as a personal loan.

    What is a prepayment and how does it help in repaying my loan?

    If you happen to get some extra money, you can pay it towards your loan even before the EMIs are due. This is called a prepayment. Every prepayment you make goes towards reducing the outstanding principal component of your loan. And since the principal reduces, your interest cost will also reduce. Also, your tenure gets shortened this way, helping you pay off the loan ahead of time.

    How much loan can I get if I earn a monthly salary of Rs.60,000?

    For personal loans, most lenders fix the minimum monthly income requirement between Rs.15,000 and Rs.25,000. Thus, if you have a monthly income of Rs.60,000, you can be fairly certain that you won’t find it difficult to borrow a personal loan. The exact amount that you will be offered will, however, vary based on your repayment capacity, debt-to-income ratio, the lender’s terms and conditions, etc.

    Is the PAN card mandatory when applying for personal loans?

    Yes, you are required to have a PAN card to apply for a personal loan.

    How much loan can I get if my salary is Rs.25,000?

    With a monthly salary of Rs.25,000, you are likely to be eligible to borrow a personal loan. However, the lender will also check if you have any other outstanding loans, your credit score, repayment capacity, etc. before deciding how much you can borrow. You can use a personal loan eligibility calculator tool to know how much you are eligible to borrow with a monthly salary of Rs.25,000.

    Is there an upper age limit for personal loans?

    Yes, the upper age limit to apply for a personal loan is 60 years. This may, however, vary from lender to lender.

    Is Form 16 required to borrow a personal loan?

    Yes, lenders will require you to submit your Form 16 when applying for a personal loan.

    Is it mandatory to submit my Aadhaar card to borrow a personal loan?

    Yes, most lenders will require you to submit your Aadhaar card when applying for a personal loan.

    What is the minimum salary that an individual is required to earn to apply for a personal loan?

    The minimum salary requirement will vary from lender to lender. Most lenders, however, will require you to earn at least Rs.15,000. If you reside in a metropolitan city, you may have to earn between Rs.20,000 and Rs.25,000.

    Can you get a personal loan if you are retired?

    A number of banks offer personal loans for pensioners. Thus, if you are a pensioner, you will be able to borrow a personal loan.

    Can I get a personal loan with a credit score below 500?

    If your credit score is under 500, there is a good chance that your personal loan application may be rejected by the lender. Even if your application is approved, you may have to pay a high rate of interest for the loan.

    Can I borrow a personal loan to pay for my house deposit?

    Yes, you can. Banks and financial institutions that offer personal loans do not lay down any restrictions on how the loan amount can be used.

    How long does it take to get approved for a personal loan?

    It may take anywhere between a few seconds to up to 48 hours. If you are a pre-approved customer, your loan amount will be approved very quickly. Else, you may have to wait for up to 48 hours to get approval.

    Will borrowing a personal loan affect my credit score?

    Once you borrow a personal loan, your credit score will improve if you pay the required EMIs as per the schedule specified by your lender. On the other hand, your credit score will drop if you miss EMI payments.

    Is borrowing a personal loan better than using a credit card?

    Personal loans are a good option if you need funds for a large expense or wish to consolidate multiple debts. The key benefit of a personal loan is that you can pay monthly instalments to repay your borrowed loan amount. Further, you can also choose a repayment tenure between 1 year and 5 years to suit your repayment ability. Credit cards, on the other hand, are a good choice if you want to finance smaller expenses, provided that you can repay your balance in full at the end of every month.

    Is it smart to consolidate my debts with a personal loan?

    Yes, if you have multiple outstanding debts, it is best to avail a personal loan and consolidate your debts. Doing this will make repayments a whole lot easier and help you clear off your consolidated loan amount in affordable instalments.

    What is the best reason to give when applying for a personal loan?

    Most lenders will not require you to provide a reason when applying for a personal loan.

    How long do I have to be employed for to get a personal loan?

    Most lenders will require you to have a work experience of at least 2 years. This condition, however, varies from lender to lender.

    Can I use a personal loan to purchase a car?

    Yes, you can use a personal loan to purchase a car. That said, if the sole purpose of the loan is to purchase a car, it is highly recommended that you avail a car loan since it is likely that you will be offered a lower rate of interest.

    How will I know if my personal loan had been approved?

    You can track the status of your personal loan application through online/offline channels. Also, the lender will let you know if your application has been approved.

    How can I access the funds that I receive through my personal loan?

    Most lenders disburse the loan amount into your savings bank account.

    How do I get a top-up on my personal loan if I require more funds?

    Keep in mind that not all lenders offer top-up personal loans. However, if the lender does offer top-up personal loans, you can apply for the same through online or offline channels.

    Will I get a loan account statement detailing my payments and outstanding balance?

    You can log into your lender’s customer portal to view your loan account statement.

    What should I do if I want to repay my loan (partially or in full) during the loan repayment term?

    Most lenders will allow you to make pre-payments or pre-close your loan during the loan repayment term. You will, however, have to pay a nominal charge to the lender for doing the same. Keep in mind that most lenders will only allow you to prepay or pre-close your loan after 1 year of borrowing the loan. If you want to prepay/pre-close your loan, ensure that you inform your lender of the same.

    Do personal loans offer tax exemptions?

    Personal loans only offer tax exemptions if you are using the loan amount for renovation of your house, to pay for educational expenses, or to expand your business.

    What is the impact of GST on personal loans?

    Prior to the implementation of the Goods and Services Tax (GST), a service charge of 15% was applicable to personal loans. Post the introduction of the GST on 1 July 2017, a service tax of 18% is applicable on personal loans. Thus, there is a 3% increase in the payable service tax. The service tax, however, is only levied on the processing fee, prepayment charges, etc., and not on EMI payments.

    Can I get a personal loan without submitting my salary slips?

    If you are a salaried employee looking to borrow a personal loan, you should submit your salary slips as proof of employment and income. Lenders will not process your application unless you submit the required documents.

    How do I cancel my personal loan after the loan is disbursed?

    You can cancel your personal loan application before the loan amount is disbursed into your account by submitting a written application for the same. You will also need to pay the loan cancellation fee to the lender. Once the loan amount has been disbursed into your account, most lenders will not allow you to cancel it. You can, however, pre-close the loan. If you are thinking of cancelling your loan because you pay a high interest rate on your loan, you can consider transferring your outstanding loan balance to another bank or financial institution.

    Since a longer tenure means lower EMIs, should I always choose a longer tenure?

    No, not necessarily. This depends on your ability to repay the loan. In other words, how much you can afford to repay every month. If you’re able to afford only a smaller amount each month, choose a longer tenure. But remember that this will result in you paying more interest over the longer duration. Also, it will keep you indebted to the lender for a longer time.

    How can I repay my personal loan?

    There are a number of ways by which you can repay your loan. These include:

    • Via Electronic Fund Transfer (EFT)
    • By cheque
    • By physically paying at a branch of the lender
    • Via standing instruction for automatic deduction from your account

    How often should I repay my loan?

    This depends on the lender you choose. Normally, every personal loan repayment is calculated on the basis of a monthly repayment pattern. It includes the principal and interest components that you’re expected to repay each month.

    How can I avoid defaulting on my personal loan repayments?

    The measures given below can help you pay your loan instalments on time:

    • Apply only for a loan amount that you can afford to repay on time
    • Don’t apply for a larger loan simply because you’re eligible for it
    • Choose the tenure wisely. It will determine how much you have to repay every month
    • Choose a loan with a low interest rate
    • Look out for other rates, charges, and hidden fees
    • Plan your finances well
    • Give the utmost priority for your EMI in your monthly budget
    • Make a repayment schedule of your own
    • Set reminders for each month’s repayment

    What will happen if I default on my loan repayment when I have offered collateral?

    Personal loans are usually unsecured loans. Sometimes, if you don’t fulfil the loan criteria, you may be able to get a loan by offering collateral. In such cases, you have to be extra careful about repaying the loan on time. If you default on your repayment, the lender may take possession of your collateral to cover their losses. Defaulting in such circumstances could make you lose your collateral.

    If I have a guarantor, what will happen if I default on my EMIs?

    A guarantor is someone who guarantees repayment on your behalf. So, if you’re unable to repay the loan as and when the installments are due, your guarantor will be asked to pay.

    If I have a co-applicant, what will happen if I don’t repay my loan on time?

    All co-applicants for a loan are equally responsible for repaying the loan. If one applicant is unable to repay the loan, the remaining applicants are expected to do so. So, if you’re not able to pay the EMIs on time, your co-applicant is expected to pay. If your co-applicant also fails to pay the installments on time, it will result in a repayment default.

    Are there any charges for prepaying my personal loan?

    Some lenders may ask you to pay a fee if you want to prepay a part of your loan. Others may either waive the fee or may not have prepayment charges at all.

    How is my prepayment fee calculated?

    This depends on your lender. Some lenders charge you a fixed fee for each prepayment. Others may charge you a percentage of the amount outstanding or a percentage of the amount prepaid.

    Can I offer collateral and get a loan if I have bad credit?

    Yes, you can. This is another way to get a personal loan even if your credit rating is bad. Some lenders may offer you a loan if you’re willing to offer them something as collateral. But keep in mind that the lender has every right to possess your collateral if you don’t repay the loan as promised.

    Will I be able to get a loan along with a co-applicant if I have bad credit?

    Yes, applying for a loan along with a co-applicant who has good credit can help you get a loan even if you have bad credit. The scores of both applicants are considered when processing a joint-loan application. This way, the good credit of your co-applicant will help balance out your poor credit. But, remember that your co-applicant will be held responsible for repaying the loan if you are unable to do so.

    What credit rating should I have to get a loan?

    A score of 700 and above is considered to be good. This should be enough to get you a loan without any hassles. But, a score of 800 or more will get you into the good books of lenders. This could get you better interest rates and repayment options.

    Why should I take a personal loan?

    An unsecured loan can help you during tough financial situations. You can easily apply for one if you qualify for it. Lenders usually process your loan quickly. You won’t have to offer any collateral either.

    What does the process of applying for a loan include?

    The process of applying for a loan includes the following steps:

    • Searching for the right loan
    • Getting the required documents ready
    • Applying for the loan
    • Submitting the documents
    • Application verification and approval
    • Loan sanctioning and disbursement

    What do I need to apply for a personal loan?

    To apply for a loan, you need to make sure that you are first eligible for it. Don’t apply for a loan for which you aren’t eligible. This can hurt your credit score. Apart from checking your eligibility, you also need to make sure that you have all the necessary documents in hand before applying.

    What will happen if I don’t have one or two of the required documents?

    Lenders usually require you to have all the required documents in order before you apply. However, if you don’t have one or more of these, you can talk to the lender and find out if there is an alternative solution. If these are vital documents, your loan will not be sanctioned till you give them.

    When will a bank reject my loan application?

    A bank can reject your loan application if you apply for a loan for which you are not eligible. It can also reject your application if you fail to submit the documents it requires.

    Is part- prepayment allowed on my personal loan?

    Personal loans can be prepaid in parts or as a whole at any stage. Some banks may charge a prepayment penalty for the same. Some banks do not allow part-prepayment. So, check all the documents before finalising on the loan with the bank.

    Will I need a guarantor to take a personal loan?

    No, you will not need a guarantor to take a personal loan.

    Can I club my income with my spouse to take a personal loan?

    Yes, you can club the income of your spouse to boost your eligibility to avail a personal loan.

    How will I be eligible for a relationship discount?

    If you have been a customer for a particular bank for a while, then the bank might reduce the personal loan interest rate or other such charges. Some banks will also provide you additional services.

    Do I need to open a bank account to service my personal loan?

    If you do not have an account with the bank, it is not mandatory to apply for one. But, if you apply for a loan with your existing banker, then you will be eligible for a relationship discount.

    How do I stop executives from calling me to let me know about other loans?

    Some banks let you register yourself for ‘Do Not Disturb'. If you opt for this, the executives will not disturb you with cold sales calls.

    What is the best way to apply for personal Loan?

    The best way to apply for an personal loan is by using the online loan application tool at BankBazaar.com The tool can be accessed on this page allowing users to choose personal loan from various banks and NBFCS as per their selection.

    How to Track Personal Loan Application status?

    BankBazaar.com offers it's loan applicants an active tracking tool through both email and SMS allowing them to track daily updates of their loan application.

    Is my Data Safe with BankBazaar.com?

    BankBazaar.com is India's premier financial marketplace and takes utmost care in ensuring that all data is sent in electronic form with high level of encryption. BankBazaar.com does not share data with any third party other than the financial institution.

    Is BankBazaar.com Personal Loan Tool Free?

    Yes BankBazaar.com personal loan calculator tool is totally free and the portal does not charge any fee for its services from users.

    How do I obtain a Duplicate Repayment Schedule for my loan account?

    You can request the bank for a personal loan duplicate repayment schedule either via your net banking account, or by calling the customer care unit or by writing to them via your registered email ID.

    How can I get my address changed in my loan account?

    You can change your address of residence linked to your loan account via your net banking account or by visiting the bank branch. At the bank branch, you will have to fill in the address-change form and submit relevant address proof documents that are authorised or attested by the State or Central Government.

    How can I make sure I get approved for a personal loan?

    Ensure that you meet the eligibility criteria set by the bank, such as your age, credit score, minimum monthly income, work experience and that there are no discrepancies in the documents that you submit to the financial lender.

    Do personal loans affect mortgage?

    Not necessarily, but it depends on your current credit score or past repayment record as well as your net monthly income and lender’s discernment if you can repay the loan without any payment lapses.

    Can you get a mortgage loan if you have a personal loan?

    Yes you can, but it depends on your income and your ability to pay the EMIs of both the home loan and the personal loan.

    How many personal loans are too many?

    Most lenders do not allow a customer to avail a second personal loan if he/she is still repaying the first personal loan. However, while it is still possible to have multiple personal loans at once, banks take into consideration the debt-to-income ratio of the individual, which will increase the chance of the personal loan being rejected if he/she has existing loans.

    What is RTGS?

    Real Time Gross Settlement (RTGS) is a real-time money transfer interbank transfer system. Individuals or institutions can send larger amounts of money via RTGS and once the amount is credit in the account of the beneficiary, it is irreversible.

    What is NEFT?

    National Electronic Funds Transfer (NEFT) is a fund transfer facility between one NEFT-enabled bank account to another. NEFT transfers are not real time like RTGS are the transfers are carried out in batches during the working hours of the bank.

    What is SI (Standing Instructions)?

    Standing instructions is basically instructions given by a bank customer to the bank to make a payment to another bank account or to the bank at regular intervals or as a one-time payment - as per the requirement. As per the instructions, the money in the bank account of the customer will be debited and remitted in another account as per the specified time of the customer.

    How to check personal loan balance?

    Bank customers can check their personal loan balance through the repayment schedule that will be issued by the lender.

    What happens if a personal loan is not paid?

    If the borrower fails to pay the EMI, the bank charges a penal interest on the overdue amount. Financial lenders usually charge a penal interest of 2%-3% per month of the overdue amount.

    Where can I get a personal loan with bad credit and no checking account?

    It could be hard to get a traditional personal loan from a bank with a poor credit score and no checking account. However, certain lenders offer types of personal loans such as payday loans for those with a poor credit score. That said, the interest charged will be quite high.

    Can I pay more than my EMI in personal loan?

    Over your EMI, after a certain period following the disbursement of the loan, you can make a part-payment towards the loan. The part payment will further deduct the outstanding principal amount of the loan.

    Is it good to top up personal loan?

    Opting for a top-up personal loan is better than availing a fresh personal loan, as the documentation process might not be required, the interest rates will be attractive, and the loan amount will be disbursed quickly.

    Can a fresher get a personal loan?

    Yes, individuals who have just started working can apply for a personal loan offered by certain lenders. Certain lenders list a minimum of 3 months’ experience and a minimum monthly income of Rs.15,000 to apply for a personal loan.

    What is pre-approved personal loan?

    A pre-approved loan is one where the customer can apply for a loan and possibly doesn’t need to submit documents or go through the verification process as he/she shares a healthy relationship with the bank as an existing customer and has a clean repayment record.

    Do personal loan pre-closures have certain terms and conditions?

    Yes, financial lenders have their terms and conditions when it comes to personal loan foreclosures. Usually, financial lenders allow loan pre-closures only after the payment of 12 EMIs and charge a foreclosure charge + GST on the outstanding loan amount.

    Is it possible to get a personal loan for a self-employed individual with no income proof?

    Most banks and financial lenders require income proof as verification prior to the approval of the loan application. However, for some lenders, the proof of work experience and bank statements of the individual will suffice.

    What is reducing rate of interest in personal loan?

    If the borrower has opted for the reducing balance interest rate, then the interest will be as per the outstanding amount. As the loan amount decreases with every EMI, the interest rate will be applied only on the outstanding balance. With the flat interest rate option, the interest will remain the same irrespective of the reducing principal amount.

    Is the overdraft facility available for salaried individuals?

    Yes, it is.

        

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    Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan with HDFC bank on one year before which was applied directly to bank. The verification process was done on smooth and within 2 days I received a card. Based on my salary they have provided a loan amount which was okay for tenure of 3 years. The rate of interest was 15% which was okay.
      Was this review helpful? 1
      , tezpur
      Reviewed on Oct 17, 2019
    • Fullerton
      Fullerton Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Fullerton personal loan through Online .I have not availed this loan since had personal issues.There was no issues with the rate of interest and the processing fee ,The agent gave all the required details about the loan process very clearly .I am really satisfied with the service .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 17, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank credit card through Online .I have not availed this loan since got the amount from some other source .I have got all the details about the loan process very clearly .The rate of interest was very high and there was no difficulties faced so far .There was good response and follow up from bank end .
      Was this review helpful? 1
      , faridkot
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Need to decrease interest charges"
      0.5 3.0/5 "Satisfactory"
      Once I was applied for a personal loan with FULLERTON on a month before I received a call on time for further process.The loan amount sufficient for the tenure period of 5 years the rate of interest was more than 21% which was high. From my end closed the loan process due to interest was high.
      Was this review helpful? 1
      , tezpur
      Reviewed on Oct 17, 2019
    • review Personal Loan
      "Good Loan"
      0.5 5.0/5 "Blown Away!"
      Without any interest rate, they have provided me a personal loan from Bajaj Finance. This loan for medical expense and the overall tenure period is only 1 year. I got the loan amount of Rs. 1.25 lakhs. They charged me some documentation charges alone. I make the EMI amount of Rs. 10400 for every month.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 17, 2019
    • HDFC Bank Personal Loan
      "Not Satisfied"
      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 very high .I have not submitted any of my documents and agent gave all the information about the loan process .I am not satisfied with the service .
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 17, 2019
    • HDFC Bank Personal Loan
      "Need to provide proper attention to the customer"
      0.5 3.0/5 "Satisfactory"
      I have provided the required documents to HDFC BANK via online but after that I got a msg that there was lack of my interest in submitting the documents and it got closed and there was no proper information for canceling which I did not approach them and left it like that. The interest rate i average.
      Was this review helpful? 1
      , dehradun
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Fullerton personal loan through Online .I have not availed this loan since I was hospitalised due to Typhoid hence not taken this loan .I was not having any difficulties with the rate of interest and the processing fee ,I have got all the details about the loan process.I am really satisifed with the service .
      Was this review helpful? 0
      , sonepat
      Reviewed on Oct 17, 2019
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with ICICI bank before 2 years which was taken from the bank directly. Since I am holding a salary account with them they had offered me a personal loan for the amount of 1 lakh 30 thousands for the tenure period of 4 years. Interest was nominal of 16% and processing fee was rs 3700.
      Was this review helpful? 0
      , daman
      Reviewed on Oct 17, 2019
    • IndusInd Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am the first time user of Indusind Bank and its a first month so far there is no glitch and its going good. They have given me a limit which I wanted so its fine. I don't know really about the annual fee. I have been generally browsing for certain things that time, I get a popup then applied for the card and got it easily.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Fullerton personal loan through Online .I have uploaded all the required documents through online and got frequent callback due to this reason canceled the plan of taking this loan .There was no issues with the rate of interest and the processing fee .
      Was this review helpful? 2
      , visakhapatnam
      Reviewed on Oct 17, 2019
    • HDFC Bank Personal Loan
      "Need to decrease interest charges"
      0.5 5.0/5 "Blown Away!"
      When I applied for a personal loan with HDFC bank a month before which was processed through an online for a verification call was delay from bank after 5 days only I received. The rate of interest was high of 17.9%. So I am not satisfy with interest. They offered for 4 lakhs amount for the tenure of 5 years.
      Was this review helpful? 1
      , daman
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Need to improve their service"
      0.5 5.0/5 "Blown Away!"
      From Fullerton I was applied for a personal loan on a last month which was processed through an online. I have received call for a delay of 2-3 days from their end for further verification. The rate of interest was nominal of 11% with the loan amount of 3 lakhs for the tenure period of 5 years. From bank closed the loan process and not intimate the reason.
      Was this review helpful? 1
      , jabalpur
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Need to improve the follow up"
      0.5 2.0/5 "Expected more"
      Based on my eligibility, i got the loan offer from Fullerton. 2 months before i applied the loan. I have not given any documents, they said they will call back and there is no follow up. I applied the loan amount of Rs. 2 lakhs for the tenure period of 3 years.
      Was this review helpful? 2
      , tirupur
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      I have applied for Fulerton Personal loan through Online .I have not availed this loan since there was no requirement .The rate of interest was very high and i have not submitted any of my documents .I have got all the relevant information about the loan process through the agent.I am really satisfied with the service so far .
      Was this review helpful? 1
      , jabalpur
      Reviewed on Oct 17, 2019
    • HDFC Bank Personal Loan
      "It's good"
      0.5 4.0/5 "Great!"
      HDFC BANK took around 5 to 7 days for the personal loan disbursement, when I have applied it through online. They have provided me a sufficient amount, the interest rate should be minimal but its acceptable. The processing fee is around 6 to 7K. The loan duration is 5years.
      Was this review helpful? 1
      , gwalior
      Reviewed on Oct 17, 2019
    • HDFC Bank Personal Loan
      "Average Loan Service"
      0.5 4.0/5 "Great!"
      Because I'm having a salary account with HDFC, i had chosen the Personal loan from them. They gave me a interest rate of 12.55% for the loan amount of Rs. 70000. I am paying the EMI of Rs. 3330. I have chosen the duration of 2 years. It took 8 to 10 days to sanctioned the loan.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 17, 2019
    • review Personal Loan
      "Need to be decrease interest charges"
      0.5 5.0/5 "Blown Away!"
      From BAJAJ FINANCE I have taken a personal loan on 7 months before which was applied directly to them. They have sanctioned a loan within one week for the amount of 20 thousands they had given tenure period of 7 months by this month only I closed the loan process. Interest was high of 14%. Monthly EMI I paid for 4 thousands which was high.I received NOC letter as well.
      Was this review helpful? 1
      , amritsar
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Follow up was good"
      0.5 5.0/5 "Blown Away!"
      When i inquired online, Fullerton people called me and the approach was good. I had applied the loan amount of Rs. 70000 for that they given me a convenient interest rate. I had selected the tenure period of 2 years. Since i had applied the loan with bank, i have refused to process this loan.
      Was this review helpful? 2
      , mumbai
      Reviewed on Oct 17, 2019
    • Fullerton Personal Loan
      "Need to improve their service"
      0.5 4.0/5 "Great!"
      The rate of interest was high from Fullerton which applied for a personal loan on a month before. I received a call from them after 25 days only which was too delay. Amount offered for 60 thousands for the tenure of 2 years. From bank closed the loan process.
      Was this review helpful? 2
      , amritsar
      Reviewed on Oct 17, 2019
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