Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 6 Month Loans

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Fees & Charges
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    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
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    11.99% - 19.50% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Customer Reviews
    10.85% - 11.85% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
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    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
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    Perks
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    Fees & Charges
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    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
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    Eligibility Criteria
    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.25% Fixed
    0 One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
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    Perks
    Fees & Charges
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    6 Month Loans is Rated as "Great!" by 76020 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    What are 6 month loans?

    No matter how thorough your plan are, there is always the unexpected which stares you in the face. During times of emergencies and untoward incidents, there is only so much you can do to meet your financial needs. And there are limited resources you can count on in terms of meeting your requirements. Your salary and savings might come in handy but may not suffice to deal with unplanned expenses which can crop up at any time. During times of cash shortage, payday loans can come to your rescue by virtue of their easy access and availability with no stringent and tedious documentation and therefore, ease your financial burden. For people who are in urgent need of cash in a short span of time such as six months, payday loans are the best way out. Widely popular in the United States and United KIngdom, payday loans are aimed at catering to short term cash requirements of consumers. Consumers need to be aware of how much the loans will cost them. After analyzing the costs, consumers will be able to decide if they can afford payday loans.

    Eligibility criteria

    Payday loans vary widely between different countries and, even between different states in the USA. Any permanent resident of the United States with a salaried income is eligible for payday loans which meet your emergency cash requirements. Consumers should have a permanent bank account in addition to six months of work experience. Consumers need to have a steady monthly income.

    Features of short term finance

    Short term finance is defined as banks offering unsecured loans on a short term basis which has to be repaid at the consumer’s payday. US, UK and Canada among other countries provide instant payday loans in that consumers can receive cash in their account in under thirty minutes following their loan application. With the help of payday loans, consumers can apply for loans for short durations. The loan is offered to the consumer till his pay day, i.e, consumers are expected to pay loans from their monthly remunerations. Payday loans are usually offered for financial requirements that can be repaid from customers’ monthly salary.

    To avail of such loans, consumers should have a permanent bank account in addition to six months of work experience. One of the biggest advantages of payday loans is that they are sanctioned quickly and require less paperwork and documentation compared to other Loan Term Loans. If the eligibility criteria is met, payday loans are sanctioned without much hassles and consumers can see cash in their accounts in no time. Interest for payday loans are higher than other loans. In developed nations such as the US and UK, consumers pay 15 USD for every 100 USD. Consumers can also apply for payday loans online. You have to zero in on the loan provider, following which, you can apply online. An e-application format reaches the bank, following which you may get the sanction. There are several online portals which help you to get the lowest interest rates for your loan through comparative analysis.

    Short term loans and bad credit history

    An individual’s credit history is not the determining factor for banks to provide pay loans in that these loans are ideal for people who do not have a robust credit record. Payday loans differ from long term loans in that the former is offered to consumers regardless of his or her credit record. Banks usually offer payday loans to consumers with a steady income.

    Short term finance in India

    Payday loans are not provided in India. However, informal lending vis-a-vis private money lenders or non-regulated financial lenders do offer cash at high rates of interest on a short term basis. Millions of Indians continue to turn to private money lenders to meet their cash requirements, one of the reasons why India is considered under-banked compared to several developing and developed nations of the world. Nevertheless, banks in the country are increasingly coming up with various schemes and policies for greater penetration and reach. However, financial experts are not too optimistic about the payday loans in India. Payday loans will not find traction in India since there are not too many banks which offer loans to the self-employed fearing lack of stable income and therefore, defaults. In a country where banks are more forthcoming to offer loans to salaried individuals backed by securities, payday loans are not in the horizon in the near future, according to experts. Processing of loans in the country often involves a tedious process in that banks offering short term finance check the consumers’ salary slips, collateral and residence proof among many others which are make it difficult to implement the concept of payday loans in India and instant payday loans at that.

    Finally, many experts rue that high interest rates offered for payday loans will not be suitable for the average Indian salaried individual. There is also a view that people from low income backgrounds or households are the target groups of instant payday loans, which can prove to be detrimental in the Indian scenario in terms of the overall growth of the country.

    Personal loans

    In India, consumers can avail of personal loans which have several advantages such as consumers don’t need a guarantor and can use it for their own personal financial requirements. Banks usually review the income or earnings of individuals before providing the loan. Most banks and financial institutions have a set criteria in terms of age in that for receiving a personal loan, a salaried individual must be aged between 21 and 60 years while for self-employed it is from 25 to 65 years. Most banks offer personal loans ranging from one to five years. IDBI Bank offers personal loans for four years (salaried individuals) and five years (doctors and dentists).

    • Examples

      For instance, IDBI Bank offers personal loans from a minimum of Rs. 50,000 to Rs. 10 lakh. The State Bank of India, offers a minimum loan amount of Rs. 24,000 while HDFC at Rs. 25,000. Personal loans offered by the ICICI range from a minimum of Rs. 20,000 to Rs. 15 lakh. Citibank offers the loans for up to Rs.30,00,000. The amount is credited to the customers’ bank account in 48 hours after approval of the loan. Citibank offers fixed interest rate in addition to the option of part pre-payment. UTI bank offers personal loans for both salaried and self-employed individuals in addition to special loans for chartered accountants, doctors and architects among many others. The loan amount offered by UTI bank ranges from Rs. 50,000 to Rs. 20 lakhs. with a repayment tenure ranging from 12 to 60 months.

    • Benefits

      Some of the benefits of personal loans include a free personal accident insurance cover. Most banks offer personal loans following minimal documentation. What’s more, some banks give savings bank account facility to customers availing personal loans. Personal loans are also provided against existing repayment record of auto or home loans in addition to life insurance policies or receipts of premiums.

      To attract more customers some banks offer additional benefits to those seeking personal loans from them. For example, the HDFC bank personal loan comes with a unique Personal Accident Cover insurance, this ensures that that your family is taken care of, at a nominal premium.The UTI bank also provides a free personal accident insurance cover and it gives zero balance SB account facility to its personal loan customers. The personal loan market in India is growing partly due to more employment and income generation across the country. According to experts, If customers have a robust credit history and track record of timely repayments for the past one year or so, banks will offer personal loans with added benefits at competitive interest rates.

    • Interest rates for personal loans

      The downside to personal loans is that they come with high interest rates from 16% to 22%. Several banks such as Citibank, HDFC Bank, HSBC, ABN Amro, ICICI Bank, Kotak Mahindra Bank and State Bank of India among others offer personal loans. The interest rate for personal loans are either calculated on a monthly basis or annual basis. According to experts, consumers would do well to opt for a monthly reducing rate plan. Several banks offer flexible interest rates. For instance, SBI offers an interest rate of 16% p.a for personal loans. However, if the customer opts for the flexible interest rate, they will have to pay an interest rate of 23% p.a. Some banks join hands with corporates to offer a preferential rate. Also, if customers have a salary account with the bank they are Applying for Personal Loans, they will get lower rates of interest.

    • Repayment tenure

      Customers can repay the loan through Equated Monthly Instalments or EMIs. Customers have to submit post-dated cheques to repay the loan. Customers can also look for banks with have the option of pre-payment or part pre-payment facility. Several banks impose pre-payment penalties as well. For instance, if you (pre) pay over 75% of the principal in 12 months, you will be charged 1% as penalty by UTI bank while ICICI Bank allows repayment after around six months with a penalty. ICICI bank does not allow any part prepayment. Also, HDFC bank allows prepayment after six months and has a penalty rate of 4%.

    • Processing fees

      Customers should also enquire about documentation and processing fees. For instance, SBI charges 1% processing fee while ICICI Bank charges 2% processing fee.

    • Switching facility

      Switching to another bank may not prove to be as difficult you would have imagined provided you are availing of a loan at a high rate of interest. Several banks may be open to take on the loan depending on the rate of interest. For instance, if have opted for a loan with Citibank and considering switching to IDBI,

      if the latter approves your application, they will pay the loan amount to Citibank including the pre-payment fees. You as the customer will then have to repay the loan to IDBI.

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  • 6 Month Loans Reviews

    • Bank Bazaar Customer Support
      "Love to Use Bank Bazaar website"
      0.5 4.0/5 "Great!"
      I am happy with Bank Bazaar, whatever the coordination which they gave is great. I love Bank Bazaar website always to use. Its very convenient to use and access. It has all options to check on financial needs. But I would like to suggest, Bank Bazaar executives should be more clear with their process.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 2.0/5 "Expected more"
      Due to improper coordination from ICICI, the loan application got closed. From Bank end there was no response on right time. They reached me after three days of my request and collected the documents finally it got closed without any intimation.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 23, 2017
    • HDFC Bank Personal Loan
      "Instant loan "
      0.5 4.0/5 "Great!"
      They have started a new process with the HDFC personal loan. We can apply the Personal Loan through net banking and we just need to apply the documents in the portal and within 15 hours they have provided me a credentials id & password where I have tracked my personal loan application . The loan got approved within 24 hours of time. The banking service is really good and giving instant service to the customers. I am happy about the loan amount. The required amount has been given by HDFC bank. The Value added service like vouchers and online purchasing offers were given. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Customer oriented service"
      0.5 5.0/5 "Blown Away!"
      The bank bazaar gives a prompt response and the regular follow to their customers. I really appreciate the bank bazaar effort which was given to the customer in terms the service, follow up in any case. The customer service and the response is really good with bank bazaar. The bank bazaar web site is easy to use and user friendly.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 23, 2017
    • HDFC Bank Personal Loan
      "They be clear about the percentage"
      0.5 4.0/5 "Great!"
      HDFC charged me 14.75% of interest for the amount of Rs.5 lakhs it is higher side compared to other competitor. But Initially they committed they were providing around 11% but finally it was processed it for 14.75%, But I am happy with their service, they done fast loan. process. I would like to suggest them, to clear information about the interest rates.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Overall good"
      0.5 4.0/5 "Great!"
      The customer services are good and very much satisfactory at Bankbazaar. I was contacted instantly and the process is smooth. The website is overall good, it would be better if there are more options of banks on the portal to choose from with a lesser rate of interest.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      I haven't got any kind of response from the ICICI bank . It was me who took initiative and made a follow up with the ICICI bank executives to get the personal loan but still no one gave proper responsefrom ICICI bank, that was the reason I haven't proceed my personal loan application with ICICI bank. The rate of interest is bit high , when compared with others. I would say it was a below average service.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "High on ROI & charges"
      0.5 3.0/5 "Satisfactory"
      I did not go ahead with ICICI Bank because I was offered a high rate of interest. I got a rate of around 15% where as I was getting lesser rates from other banks for the personal loan. The services and response was on time and there were couple of follow up calls too.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Userfriendly website"
      0.5 4.0/5 "Great!"
      As per the loan application status, Bank Bazaar gave me good follow up and I got good response from Bank Bazaar. I am using Bank Bazaar website is good to compare the interest rate. I would like to suggest Bank Bazaar should give multiple option, so the customer will have a choice to chose an another bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Loan process should be fleixible"
      0.5 2.0/5 "Expected more"
      ICICI was looking for last six bank transactions, I have an account with SBI but I have a transaction around five years. Hence ICICI have rejected my personal loan application. I have submitted all of my documents, they have check my credit score as well finally they rejected it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Excellent very very good service provided by bank bazaar .com and very very happy for simple loan apply process and sanction your amount and fast service and any executive service and fast information & loan section and comfortable with any language.
      Was this review helpful? 1
      , patna
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "The best"
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar has been great and the process is smooth. They are very professional and they are the best in handling a customer. The follow up calls was much and they showed interest and they valued the customer. The website is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is an excellent service provider, I am getting good and satisfactory service. Whenever I looks for any financial products through Bank Bazaar. I am happy about that, I came to know Bank Bazaar through google search. I have been using it for three years its good.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Perfect service"
      0.5 5.0/5 "Blown Away!"
      My friend has referred me to go with bank bazaar to get an credit card and I have downloaded bank bazaar mobile application and I have started applying for credit cards and personal loan. The bank bazaar mobile application is easy to use and user friendly rather I would say it is also useful for the financial management,. The customer service with bank bazaar is very good and supportive to the customers.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      The ICICI bank gave a call and asked me from which company I am receiving the salary and I told my company name but I am receiving the salary from 2 different company names , so very next day I got a text from ICICI bank saying that My personal loan application got cancelled. The customer service and the response was good with ICICI bank. The rate of interest is nominal with ICICI bank. I would say it was an average service from ICICI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 23, 2017
    • Standard Chartered Bank Personal Loan
      "Looking for better feature"
      0.5 3.0/5 "Satisfactory"
      Standard Chartered customer service is good, when I applied for the personal loan they called and collected my documents. They done a verification process over the phone call but they have not visited my place to verification. Loan process got delay, Then I almost waited for two weeks, the time which they committed to disbursed the amount, I did not receive it and finally my application got closed.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.0/5 "Great!"
      Looks like the site is loaded with full of information. I am expecting bankbazaar to bring in more partner banks. I got to know about bankbazaar through advertisements. I am with bankbazaar for a long time. I had applied for a personal loan through this channel the site is very much easy to use and user friendly.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 23, 2017
    • Standard Chartered Bank Personal Loan
      "Satisfactory service"
      0.5 4.0/5 "Great!"
      SCB took around a week's time to disburse my personal loan. Both customer service and response e was really good with SCB. I initially approached online and later changed the channel and I got the loan through some other channel. Rate of interest is very much nominal with SCB. The required loan amount was disbursed by SCB and I am very much happy about it.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 23, 2017
    • HDFC Bank Personal Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      My personal loan is from HDFC Bank and the I got the loan in a jiffy. The bank has offered me a good deal on the interest rate and they were decent in the charges as well. The paper work is simple and overall I have no issues even for the after loan services.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 23, 2017
    • Standard Chartered Bank Personal Loan
      "Dissatisfied service"
      0.5 1.0/5 "Really Bad"
      First time I received a call from Standard chartered and they visited took my document from me. Then there was no response from Standard chartered end, their customer service is very bad, after getting my documents they didn't communicate anything about the application status.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 23, 2017
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