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

    We found 32 6 Month Loans

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    1% to 2.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
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    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
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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.1000 Amazon voucher free Ad 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.1000 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.1000 Amazon voucher free Paperless Approval Option Available
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    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.1000 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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    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
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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.1000 Amazon voucher free Paperless approval option available
    What you'll love
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    Perks
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    Fees & Charges
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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
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
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    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
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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.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
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    6 Month Loans is Rated as "Great!" by 74151 Users

    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

    • HDFC Bank Personal Loan
      "Fast and Best Service in HDFC"
      0.5 5.0/5 "Blown Away!"
      I am an account holder of HDFC, hence my home branch have reached me and provided the best loan option. They sanctioned the personal loan with the interest rate around 14% and they processed within same days. Hence I have cancelled HDFC online loan request.
      Was this review helpful? 1
      , dindigul
      Reviewed on May 27, 2017
    • Kotak Personal Loan
      "Its Better"
      0.5 4.0/5 "Great!"
      After giving the loan request to Kotak Mahindra bank, they had called me and shared the loan process update. But due to the personal reason I had postponed the plan. Other banks are providing beneficial interest rate but Kotak charges high rate.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 27, 2017
    • Bank Bazaar Customer Support
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar has been up to my satisfaction. It was a nice experience because the team was helpful in giving me the details and they also checked about my requirement as well. They were in constant touch and the website was good and user friendly.
      Was this review helpful? 0
      , faridabad
      Reviewed on May 27, 2017
    • IDBI Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      IDBI is good in the rate of interest. I got the interest rate of 9.8% for the personal loan with the processing fee of 1% of the loan amount. Documentation process is very simple and it is surely a recommendable bank. Even they maintain good customer service.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2017
    • Bank Bazaar Customer Support
      "Prompt service"
      0.5 5.0/5 "Blown Away!"
      I do not have any suggestions for bankbazaar as everything went good with them when I approached them for the loan process. Their website is easy to handle and it is informative. I got very good responsiveness and good customer service from bankbazaar.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2017
    • Citibank Personal Loan
      "High Interest Rate"
      0.5 4.0/5 "Great!"
      Citi bank is on higher end in terms of interest rate. They quoted some high rate of interest for the personal loan. When I checked with other banks, I got lower interest rate than CITI bank so I closed my application with CITI. Customer service and everything is fine except the interest rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2017
    • Kotak Personal Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Bank has been good in the services for the personal loan. The team contacted me on time and informed me the details. The loan could not process due to the banking norms. I was offered a normal interest rate and processing charges.
      Was this review helpful? 0
      , faridabad
      Reviewed on May 27, 2017
    • Tata capital Personal Loan
      "Interest rate is high "
      0.5 2.5/5 "Just OK"
      My existing home loan was running with AXIS, I thought its better to take personal loan from same AXIS bank. Hence I have not taken personal loan from TATA Capital and their interest rate is too much high. Tata Capital charging around 13.99% but AXIS giving 11.99% of interest.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 27, 2017
    • Bank Bazaar Customer Support
      "Overall good"
      0.5 4.0/5 "Great!"
      My overall experience with Bankbazaar was good. I was contacted on time and given the details.The website was good and informative. But when I click on the bank names to get more details is was taking me to the application page. Else good and no issues.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Prompt service"
      0.5 5.0/5 "Blown Away!"
      ICICI bank offered high interest rate for the personal loan which is 12.75%. Th services are very prompt and they are really good in processing the loan application. I did not have any issues with them in the entire process. All things went good with them.
      Was this review helpful? 0
      , pune
      Reviewed on May 27, 2017
    • Standard Chartered Bank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      Since I had to travel out of the country, I did not proceed ahead for the personal loan with Standard Chartered Bank. They did contact me a couple of time for the loan. The rate of interest was low but not the lowest, it was around 11.49% and the processing charges were normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2017
    • Bank Bazaar Customer Support
      "Supportive Service"
      0.5 4.0/5 "Great!"
      Two years ago I availed the loan through bankbazaar. So again I approached bankbazaar for the personal loan this time. I got good response from them and their website is quite easy to handle. It would be fine if the mobile app is even more user friendly. Overall service is pretty good.
      Was this review helpful? 0
      , pune
      Reviewed on May 27, 2017
    • Capital First Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      When I applied for the personal loan with Capital First, they offered the loan but it was not up to my requirement also I got better offers from other banks so I just moved out from capital First. But their response and customer services are good with capital first. Interest rate and processing fee is good with Capital First.
      Was this review helpful? 0
      , pune
      Reviewed on May 27, 2017
    • Axis Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have closed the personal loan with the Axis bank and the rate of interest was around 14.5% and the processing charges were okay with them. I would like to suggest that they can make lesser rate of interest for the customer, so that they can make the business. Customer service is fine one with them.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have made the balance transfer of my personal loan with the HDFC bank and the rate of interest was around 11.29%, which is really good. The loan amount got disbursed to my account within three to four days of time, also there were no processing charges with them till now.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 27, 2017
    • Kotak Personal Loan
      "Timely process has to be done"
      0.5 4.0/5 "Great!"
      I am not happy with Kotak Mahindra personal loan process, they took more than a month and they processed an EMI before sanctioning the loan. I took the amount of 3 lakhs with the tenure of 3 years and my EMI is 10,802, its running without any issues.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • Bank Bazaar Customer Support
      "Very good in services"
      0.5 5.0/5 "Blown Away!"
      The customer services are good at Bankbazaar and they know how to handle a customer. The portal is good and very much helpful. It helped me to identify the right bank by using the comparison tools on the portal. The follow up calls are also of great support to me.
      Was this review helpful? 0
      , raipur
      Reviewed on May 27, 2017
    • Bank Bazaar Customer Support
      "Easy to Navigate"
      0.5 4.0/5 "Great!"
      Bank Bazaar come to know through online but they are good in service, they are doing speedy service and they are analyzing the customer's profile and giving best service. The portal is also good to check multi information of banking products.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Unhappy with the banking services"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with ICICI bank and it was not up to the mark. The customer support needs to be more professional and though I received a response, I am not happy with the overall services. I did not go to the extent to talk about the interest rate and charges.
      Was this review helpful? 0
      , raipur
      Reviewed on May 27, 2017
    • IndusInd Bank Personal Loan
      "They Should Bring New Ideas"
      0.5 1.0/5 "Really Bad"
      I have few other loans are running , hence when I gave loan request to Indusind, however they have rejected it. But I am a prompt payer, I could track my record and process the loan. Indusind not potential to get the customer inside as they dont provide praactive customer service.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
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