Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Sonata Microfinance

    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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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    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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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    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
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    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
    What you'll love
    Documents
    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
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    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
    What you'll love
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    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
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    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
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    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
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    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
    What you'll love
    Documents
    Perks
    Think about
    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
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Sonata Microfinance is Rated as "Great!" by 76273 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Overview about Sonata Finance Private Limited

    Sonata Finance Private Limited began operations in 2006 and is headquartered in Allahabad. It provides customers with insurance and savings products, emergency loans, income-generating loans and a host of other financial products and services to help low-income Indian women. The aim of the bank is to help microfinance achieve financial self-sustainability using training, technology and processes to ensure that their customers have access to the best of banking. The bank has adopted both group lending as well as individual lending as its approach, lending funds to individuals and groups as big as 10 to 20 women.

    Approach

    • Cash-free operations: Loans are disbursed by Sonata Finance Private Limited via bearer cheques. The collection is either deposited in the bank’s branch offices or the bank’s accounts in commercial banks as doing so reduces risk and ensures that the amount of cash floating around is relatively low.
    • Focus on women: The bank offers exclusive products and services for women to help them gain easy access to finances that can be invested in their children or their household.
    • Customised products: The bank has tailored loans with low repayments after considering the various wage structures, income-generating and consumption activities to ensure that emergency distress sales are avoided. The first loan sanctioned is usually quite low in order to help customers develop collective responsibility and credit discipline.

    Features of Loan Products

    Income generating loans
    1. The purpose of the loan is income generation
    2. This loan is only offered to women
    3. The household income requirement is more than Rs.60,000
    4. Repayment must be done on a weekly basis
    5. The minimum amount that can be borrowed is Rs.7200 and the maximum is Rs.19,650
    6. The shortest term is 12.2 months and the highest is 23.3 months
    7. The interest rate is currently 26%
    8. Interest is calculated on a reducing balance method
    Utility Finance
    • Finance in times of emergency for any purpose
    • The loan is only offered to women
    • The minimum amount that can be borrowed is Rs.1000 and the maximum is Rs.6770
    • The interest rate varies from 23.12% to 26%
    • Interest is calculated on a reducing balance method
    • The shortest term is 3.6 months and the highest is 8.9 months

    Features and Benefits of Sonata Finance Loan Products

    • Processing fee is levied when the loan is disbursed
    • There are no penalties in any case
    • The loan can be availed without pledging any asset as collateral
    • Prepayment can be done without penalties
    • Repayment can be done in monthly, fortnightly and weekly instalment depending on the borrower’s choice
    • Loans are granted to support customers who wish to engage in income-generating activities
    • There are no additional fees
    • The maximum amount offered to customers is Rs.50,000
    • The minimum annual income requirement for rural customers is Rs.60,000 and Rs.120,000 for urban customers
    • All loans are compulsorily verified by the credit bureau before they are disbursed
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  • Customer Reviews

    • HDFC Bank Personal Loan
      "Customer friendly experience"
      0.5 5.0/5 "Blown Away!"
      HDFC is very good, I am very much happy the offer which they provided on the personal loan. I took the loan of Rs. 2.8 lakhs and I done one more balance transfer from ICICI to Hdfc for the amount of 3.5 lakhs. HDFC offered the interest rate 12% I am fine with that.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.5/5 "Excellent!"
      I know about bank bazaar through Google web search. I am with bank bazaar for past 2 years. I have used bank bazaar mobile application and web portal both are working good. The bank bazaar mobile application has better features. The bank bazaar customer service helped me to get in touch with the bank partner.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      The ICICI bank has rejected my personal loan application , saying that my salary didn't met their eligibility criteria , and they asked me to approach after 3 months. The customer service with ICICI bank is really good. The rate of interest is nominal with ICICI bank.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Good Financial Advisor"
      0.5 4.0/5 "Great!"
      Bank Bazaar is very big website, when I raised a request for the personal loan. I got a call and they arranged the executive to collect my documents and they connected with the bank and they provided so many options, Overall I felt its a good website.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Citibank Personal Loan
      "Communication part should be improved"
      0.5 1.0/5 "Really Bad"
      I have submitted my documents to the CITI bank for the personal loan and I got my loan reference number. Then whenever I tried reaching their customer service, they were telling they haven't receive my documents. There was no proper coordination with me. It would be great if they communicate the application status to the customer.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "One stop solution"
      0.5 4.0/5 "Great!"
      I appreciate the timely response of Bank Bazaar and they helping to get the exact product what we expecting on our financial needs. I am very satisfied about their loan process, their people are very professional in term of servicing. The website is easy to use, but I would like to suggest them to provide multiple option.
      Was this review helpful? 0
      , indore
      Reviewed on Jun 28, 2017
    • Capital First Personal Loan
      "Interest rate should be flexible"
      0.5 3.0/5 "Satisfactory"
      When I was need in a need, I thought to go with Capita First but they were charging high rate of interest and processing fee compared to other competitor. Even I requested Capital First to reduce the charges but they denied to process. Hence I dropped the plan to go head with Capital First.
      Was this review helpful? 0
      , indore
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.0/5 "Great!"
      Bankbazaar paves the way for the customer to know the best offer along with the best partner bank in the market. All the offers are available at one place so that there is no need for me to go anywhere to check the rates. I got to know about bankbazaar through promotional mails. I am with bankbazaar for the past one year also the site is very much easy to use and user friendly.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Presently, I am living and working at one place however I had applied for a personal loan at a different locality. Therefore ICICI executive confirmed that both my residential and work place were different and that was the reason why I did not opt for the personal loan. Rate of interest seems to be normal also the customer service and response provided by ICICI Bank is good.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Informative Site"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is giving quick response, they were calling the customer on time. I have been using Bank Bazaar site around three years its good. whenever I have any financial needs I used to visit Bank Bazaar site for any financial assistance because its very informative.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "The process is very very smooth"
      0.5 5.0/5 "Blown Away!"
      Applying any loans, card etc process is smooth. The customer service officers behaviour is very good. Time period less. I got Immediate response from bank Bazar They guided the customer how to handle cards. How to maintain cibil etc and their website is very much understandable,.
      Was this review helpful? 0
      , faridabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I got so many calls from bank bazaar in regards to my personal loan application. The customer service with bank bazaar is really good in their response . One of my friend referred me to go with bank bazaar . I am with bank bazaar for past 4 months. I have applied personal loan through bankbazaar web site which is easy to use and user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      At present I don't require any personal loan. Then one of the HDFC bank executive has told that my salary haven't met their eligibility criteria again one more executive gave a call and told I am eligible to get the loan, the information need to be transparent with HDFC bank. The rate of interest is nominal with HDFC . I got a good service with Hdfc but still they can do better.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDB Financial Services Personal Loan
      "Document Process should be easier and reliable to all"
      0.5 3.0/5 "Satisfactory"
      HDB Finance asked me to give my relative details as reference who have own property. Hence I don't interest to process with them. Response part was good, I got a call from them, even they discussed about the loan process and gave me reasonable interest rate and processing fee it was fine.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Personal Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      It was first loan with HDFC, at the time I am not aware of the loan process. But I have good relation ship with the HDFC, I have taken the amount of Rs. 1.5 lakh with some good interest. Then my loan got closed without any hassles and also I received NOC letter from HDFC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Good Website"
      0.5 4.0/5 "Great!"
      I do got a quick response from Bank Bazaar, they were maintaining a good relation ship between bank and the customer. I got a very good service from them, Earlier I had taken some financial products through this site Bank Bazaar and it did work out . I am very much fine to use this site.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • Standard Chartered Bank Personal Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      Right now, I have hold the plan because I have some financial issue hence I thought to process later. Standard Chartered service is nice, they called and explained about the loan process. I am very fine with that but due my personal issue I have not process with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 3.0/5 "Satisfactory"
      One of my colleague referred me to go ahead with Bank bazaar, after getting in to bankbazaar it was very much easy to compare and choose the product with different bank partners and they were offering good rate of interest too. Customer service rendered by bankbazaar is too good and they are really good in providing response too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      There was a duplicate account issue with ICICI bank, initially they rejected my loan later 2nd time they approved my personal loan. The rate of interest levied by them is way too high when compared with others. Both customer service and response provided by ICICI bank was really good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 28, 2017
    • HDFC Bank Personal Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I had closed the personal loan before 3 years, this loan was taken before 6 years. Within 3 days of time the personal loan got disbursed by HDFC. The rate of interest is very much competitive. Customer service and response provided by them was okay. Processing fee charged by them was 1% and even some additional charges were also applicable. I am completely happy with the loan amount too.
      Was this review helpful? 0
      , zahirabad
      Reviewed on Jun 28, 2017
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