Capital Small Finance Bank Personal Loan
Capital Small Finance Bank offers personal loans at competitive rates of interest. You can avail a loan of up to Rs.5 lakh (on the basis of your eligibility) to meet your personal expenses.
- Rate of Interest - 15.85% p.a.
- Loan Amount - Between Rs.1 lakh and Rs.5 lakh
- Processing Fee - 1% of the loan amount, subject to a minimum of Rs.500
Features and Benefits
- The lender charges a very competitive interest rate of 15.85% on the borrowed sum. Further, you will only be charged a 0.50% processing fee.
- Individuals who wish to avail this loan can assess their financial needs and opt for a loan amount ranging between Rs.1 lakh and Rs.5 lakh.
- You will get 100% financing when you borrow a personal loan from Capital Small Finance Bank.
If you are a prospective borrower, you should check the interest that is charged on a personal loan and compare it with interest rates charged by other lenders for their respective personal loans. This will help you borrow a personal loan with a reasonable interest rate.
Documents Required
Along with the loan application form, you will need to submit the following documents when applying for a personal loan:
- Identity Proof
- Address Proof
- Income Proof
- Any other documents required by the lender
Who Can Avail a Personal Loan from Capital Small Finance Bank?
Capital Small Finance Bank offers personal loans to the following individuals, based on their employment status:
- Professionals
- Self-employed individuals
- Business owners
How the EMI calculation for Capital Small Finance Personal Loan work?
To explain how the Capital Small Finance Bank Personal Loan will work, let's consider a scenario, in which Mr. Shetty borrows a sum of Rs.1 lakh for a loan tenure of 6 months from Capital Small Finance Bank. He is charged an interest rate of 15.85%. A processing fee of 0.5% is levied by the lender.
As per the figures mentioned above, Mr. Shetty will need to pay an EMI of Rs.17,446. He will be paying a total interest of Rs.4,673 and a processing fee of Rs.500. The total repayment amount, which includes the principal borrowed, the interest charged, and the processing fee, for a 6-month loan tenure will be Rs.1,05,173, in his case. His repayment schedule will be as follows:
Month | Principal Paid(A) | Interest Paid(B) | Total Payment(A+B) | Outstanding Loan Balance |
1st Month | Rs.16,125 | Rs.1,321 | Rs.17,446 | Rs.83,875 |
2nd Month | Rs.16,338 | Rs.1,108 | Rs.17,446 | Rs.67,538 |
3rd Month | Rs.16,554 | Rs.892 | Rs.17,446 | Rs.50,984 |
4th Month | Rs.16,772 | Rs.673 | Rs.17,445 | Rs.34,212 |
5th Month | Rs.16,994 | Rs.452 | Rs.17,446 | Rs.17,218 |
6th Month | Rs.17,218 | Rs.227 | Rs.17,445 | Rs.0 |
Compare Capital Small Finance Bank personal loan with loans from other lenders
Particulars | Capital Small Finance Bank Personal Loan | New India Co-Operative Bank Personal Loan | Axis Bank Personal Loan |
Interest Rate | 15.85% p.a. | 11% p.a. onwards | 16% p.a. to 24% p.a. |
Processing Fee | 0.5% | As per the lender's terms and conditions | As per the lender's terms and conditions |
Pre-Closure/Foreclosure Fee | As per the lender's terms and conditions | Nil | Nil |
To find a personal loan that is best suited to your needs, you should compare the features of personal loans offered by various lenders, calculate the payable EMI, and familiarise yourself with the terms and conditions of the loan. If Capital Small Finance Bank's personal loan meets your financial needs and repayment capacity, you can reach out to the lender to apply for the loan.
FAQs on Capital Small Finance Bank Personal Loan
- Does the lender impose any restrictions on how the disbursed loan amount can be used?
No, there are no restrictions on how the loan amount can be used.
- How do I apply for a personal loan from Capital Small Finance Bank?
To apply for the loan from Capital Small Finance Bank you can fill up and submit the online form, which is available on the lender's website. Once you do this, a representative from Capital Small Finance Bank will contact you to take the process forward.
- What is the minimum loan amount that I can borrow?
The minimum loan amount that can be borrowed is Rs.1 lakh.
- Does the lender require any security?
Yes, you will need to submit post-dated cheques as security. You will also need a guarantee provided by a third-party of adequate financial means.
- I have certain queries regarding the Capital Small Finance Bank's personal loan. How can I contact the lender?
You can contact the lender through the helpline number (+91-1181-5051111/5052222) or via email (customerrelations@capitalbank.co.in)
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