Online approval within half an hour with minimal documentation
Eligibility criteria
Before you can apply for this personal loan, there are certain eligibility criteria that you will need to conform to. These factors are:
The applicant will have to be a salaried professional with a regular source of income.
In case of self-employed professionals and businesses, business loans are offered.
The minimum age required to be eligible for Aditya Birla Finance Personal Loan is 23 years.
Documents required
Some of the documents that will be required for applying for a personal loan are listed below:
Credit information: ABFL will require your PAN card to check the information in relation to your credit history.
Proof of Identity: You will be required to submit your proof of identity such as PAN card, Aadhaar card, passport, etc.
Proof of address: You will be required to submit your proof of residential address. For this purpose, you can submit your Aadhaar card, PAN card, ration card, and so on.
Bank statements: ABFL will require your bank statements to provide you with the best possible offer. ABFL also makes initial offers without a bank statement.
In addition to the documents mentioned above, you might be required to submit a few more documents as per the requirement put forward by Aditya Birla Finance Limited.
How the EMI calculation works for Aditya Birla Finance personal loans?
The EMI calculation for Aditya Birla Finance personal loan can be best explained with the help of an example. Consider a scenario where you take a personal loan of Rs.1 lakh from the company. The company charges you an interest rate of 14% for a loan tenure of one year. The loan repayment schedule and EMI details for this loan can be given as follows:
Months
Principal
Interest
EMI amount (principal + interest)
Balance amount
Percentage of loans paid to date
Apr
Rs.7,812
Rs.1,167
Rs.8,979
Rs.92,188
7.81%
May
Rs.7,903
Rs.1,076
Rs.8,979
Rs.84,285
15.72%
Jun
Rs.7,995
Rs.983
Rs.8,979
Rs.76,289
23.71%
Jul
Rs.8,089
Rs.890
Rs.8,979
Rs.68,201
31.80%
Aug
Rs.8,183
Rs.796
Rs.8,979
Rs.60,018
39.98%
Sep
Rs.8,279
Rs.700
Rs.8,979
Rs.51,739
48.26%
Oct
Rs.8,375
Rs.604
Rs.8,979
Rs.43,364
56.64%
Nov
Rs.8,473
Rs.506
Rs.8,979
Rs.34,891
65.11%
Dec
Rs.8,572
Rs.407
Rs.8,979
Rs.26,320
73.68%
Jan
Rs.8,672
Rs.307
Rs.8,979
Rs.17,648
82.35%
Feb
Rs.8,773
Rs.206
Rs.8,979
Rs.8,875
91.12%
Mar
Rs.8,875
Rs.104
Rs.8,979
Rs.0
100.00%
How Aditya Birla Finance compares with other lenders?
Fees and charges
Aditya Birla Capital
Bank of India Personal Loan
Kotak Mahindra Bank Personal Loan
HDFC Bank Personal Loan
Interest rate
14% p.a. onwards
10.35% p.a. onwards
10.25% p.a. onwards
10.5 p.a. - 21% p.a.
Processing fee
Contact the lender for more information
Contact the lender for more information
2.5% + GST
2.5% + GST
Foreclosure charges
NA
N/A
2% - 4% of the principal outstanding
2% to 4% of the outstanding loan amount
Late payment fee
NA
Contact the bank for details
3% of the overdue amount per month
2% of the overdue amount per month
FAQs on Aditya Birla Finance Personal Loan
How much time does it take to process a personal loan with ABFL?
If you are applying for a loan online, the loan might be approved within 30 minutes.
How do I know the status of my loan?
You can know the status of your loan very easily by logging in to your profile with Aditya Birla Finance Limited. If you have applied for the loan through BankBazaar, you can check the status by logging in to your BankBazaar profile as well. In addition to these, you will also receive regular SMS and email alerts from BankBazaar to notify you about the status of the loan. You can also consider using the mobile phone application of BankBazaar for the same.
How is the maximum loan amount decided for an applicant?
The maximum loan amount for which an applicant will be eligible is decided by the lender. For this purpose, the lender takes a number of things under consideration such as the income of the applicant, his or credit score and history, and so on. The number of other active loans and the amount spent by the applicant towards EMIs on a monthly basis also play a major role in this case.
What is a short-term personal loan?
A short-term personal loan is usually offered for a short period of time. In most cases, a personal loan with a repayment tenure of 12 months is considered to be a short-term personal loan.
What is a medium-term personal loan?
A medium-term personal loan has a repayment tenure which is usually longer than that of a short-term loan. In general, a personal loan with a repayment tenure of around 12 to 36 months is considered to be a medium-term personal loan.
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I have taken this personal loan on 1 year before, ADITYA BIRLA FINANCE has provided a high interest rate of 20%. Their service is good. For my personal need I have taken this loan. The processing fee of 10K was deducted from the loan. The amount of 3L with tenure period of 2 years. There is pre closure option with less interest after one year. For cheque bounce have paid 500 rupees on 8 months back and EMI was around 10K.
I have taken a personal loan from ADITYA BIRLA FINANCE LIMITED which I applied through bank executive. I have opted for loan amount 2.25L with the interest rate17%, which need to be reduced. The loan amount got disbursed with in 2 weeks. The processing fee varies from 2 to 2.5%.
I have applied personal loan from Aditya Birla through online and the loan amount was 1.10L The rate of interest was very high 24% at that time i had a requirement so i have selected this bank for 3 years tenure and EMI is Rs.3800. I received DSA call and i applied this loan, service was good and also i am getting alert call and message. Within 3 days, the loan was disbursed.
Aditya birla offered a personal loan and I have taken recently on 2 months ago but the interest rates are higher which is more than 20% and the processing fee was around 5%. I have paid the first month EMI as well. It took around 3 weeks to sanctioned the loan. The documentation process was fine.
They have a high interest rate on Aditya Finance when i taken the personal loan. For the first time i had apply the loan but banks are not ready to provide the loan because of my credit score hence i have gone through with Aditya Finance. I took the loan amount of Rs. 5 lakhs and they have given me the loan in 15 to 20 days.
Purchased the personal loan 1 month ago. Its zero documents process and i have uploaded the documents through online thats the reason i opted the loan through Aditya Birla. Loan amount is Rs. 1 lakh and the rate of interest is 13.75%. I am paying the EMI amount of Rs. 6750 for the loan amount of Rs. 1 lakh.
The interest rates are little bit higher but that is fine. I got the money within 5 days. There is no much procedure to get the loan which is good for us. They have offered me a interest rate of 12%. I have applied the loan through local guy who referred the loan to take from Aditya Birla Finance.
I have selected personal aditya birla personal loan 1 lakhs tenure 3 years , EMI Rs 3000, one time is applicable, Rate of interested 21 percentage is very high , customer service is not responding There is delay disbursal loan amount, documents submitted through executive and on line.
From ADITYA BIRLA FINANCE LIMITED I have taken a personal loan on 1 year before which was processed directly to them. The process was smooth and sanctioned the loan amount on time. The amount was sufficient for the tenure of 5 years. The rate of interest and fee are nominal.
I have taken a personal loan in ADITYA BIRLA FINANCE LIMITED on 1 year before which was processed directly to them. I have taken a loan for 60 thousands for the tenure of 6 months. They have sanctioned the loan on time. The rate of interest is nominal for this loan.
I had applied personal loan though aditya bank for emergency, i was gone with manual documentation process staff visited my office and collected the documents. My loan was sanctioned for 50 thousand with high rate of interest and for about 24 months.
I have taken my personal loan with ADITYA BIRLA . I have to go through a easy process while applying. There was not so much documentation work to be carried. Everything happened on-line and it was quick. Things were taken care as i was in need. The customer service works great, they respond to your query.
I have taken a personal loan in ADITYA BIRLA FINANCE LIMITED on one month before which was processed directly to them. The process was smooth and on time loan got sanctioned. For the tenure of 5 years they have given the loan with sufficient amount. The rate of interest and fee are medium.
I have taken a personal loan in ADITYA BIRLA FINANCE LIMITED few months before which was processed directly to them. The amount was sufficient for this loan for the duration of 3 years. The rate of interest is a bit high. The customer support is not good in response. I use to get many calls for the same details from each executives.
I have been holding my personal loan with Aditya birla a year back, the loan amount which they have given me was not up to the requirement i asked for 1,00,000 they have given me less, their customer care service is not good, they do not resolve my issue ever, in on line no updation is made.
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30
BASURAJ RAMA KAMBLE
, mumbai
Reviewed on Jun 23, 2019
My personal loan was taken with ADHITYA BIRLA .They provide high rate of interest and it is nominal in the market .The processing fee is also nominal and tenure period is sufficient . So far it has been good experience with this bank . Loan amount is is very low . Process was delay .
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25
RAJKUMAR ROCHWANI ROCHWANI
, jaipur
Reviewed on Jun 12, 2019
I took a personal loan from the ADHITYA BIRLA , the tenure period is fine . I use to pay EMI every month .The interest rate was also comparatively nominal . Overall I am all happy with the loan experience with the adhiya birla was fine . Loan amount is satisfactory .
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17
SAURABH SUMAN
, ghaziabad
Reviewed on Jun 09, 2019
I have taken personal loan through Aditya Birla Finance limited.The rate of interest and the processing fee was very high since had a requirement taken the loan .I have applied for the loan amount of 3lakhs for the tenure of 3 years.The loan got sanctioned on time and it was sufficient as well.The process was very smooth .
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14
NADEEM AHMED SHARIFF
, bangalore
Reviewed on May 30, 2019
I had taken my personal loan from ADITYA BIRLA a while back and the process in getting the loan was pretty much simple. The loan amount was fine but the interest rate is around 22% which is high and the processing fee and charges where also high. Their customer support team was quite helpful at times.
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17
VINOD KUMAR KOMMU
, hyderabad
Reviewed on May 12, 2019
I was taken one personal loan from aditya birla last one years bank , my tenure is six month and last six month back I closed that loan , and my loan amount was 33k , and EMI amount was 5908k, and here 3k extra pay and closed that loan , and their customer service was good ,
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49
VIDYA PRAKASH MISHRA
, new delhi
Reviewed on May 06, 2019
