Pune Personal Loan

With low interest rates, flexible repayment tenures, and high loan amounts, finding the right personal loan in Pune just got a whole lot easier! Known as the “Oxford of the East”, Pune is not only home to numerous educational institutions, but it also has several banks that offer personal loans for interest rates starting from just 10.99%. With tenures as long as 5 years, it is ever so simple to meet your immediate financial requirements in the city.

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Pune is a peaceful city in the state of Maharashtra with a population of around 31.2 lakh. It is located on the Deccan Plateau. The city is famous for its academic institutions and business entities. It attracts many tourists with its historical places and nearby hill stations.

If you are interested in taking a personal loan for any of your financial needs, you can apply for one from a bank or a non-banking financial company (NBFC). You may obtain a personal loan through online or offline modes in Pune.

Online personal loan applications are very beneficial as you can compare rates of interest, processing fees, prepayment fees, etc. and then make a judicious decision. You will also be able to calculate your EMIs and then choose your loan amount appropriately. If you want to apply offline, you can go to a branch directly and get the application process done.

Documentation needed to apply for an Pune Personal Loan

1. Photo ID and age proof
2. Signed application form with photograph
3. Residence proof
4. Last 6 months bank statement
5. Documentation for salaried applicants:
- Last 3 months salary – slips
- Form 16 or Income Tax Returns
6. Documentation for self-employed applicants:

Last 3 years Income Tax Returns with computation of Income
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Pune Personal Loan Interest Rates_{Updated on 23 Jun 2021}

Pune Personal Loan Details

Interest Rate (Monthly reducing balance)	13.49% - 34%
Processing Fees	0.5-2.5%
Loan Tenure	1 year to 5 years
Pre-closure Charges	2% - 5%
Guarantor Requirement	No guarantor required

Personal Loan in Pune

For those residing in Pune, they can avail a personal loan from any of the top banks and NBFCs in the city. A personal loan can be availed by individuals to clear debts, fund an extravagant holiday, and pay for medical emergencies and so on. Before choosing a loan, it is imperative to loan shop to find one that suits your financial situation - taking into consideration the interest rate, the EMIs, debt-to-ratio and so on. When loan shopping, customers can facilitate the use of financial portals such as BankBazaar. On the BankBazaar website, customers can compare loan offers by its partner banks and quickly come to a decision.

Personal Loans offered by Various Lenders in Pune

A few of the top lenders that offer personal loans in the city of Pune include:

Fullerton India
Bank of Punjab
UCO Bank
IndusInd Bank
Kotak Mahindra Bank
Oriental Bank of Commerce
State Bank of India (SBI)
Bank of Maharashtra
The Bank of Rajasthan
Indian Overseas Bank
ING Vysya Bank
Standard Chartered Bank
Dena Bank
Deutsche Bank
Tata Capital
Citibank
Andhra Bank
IDBI Bank
Aditya Birla
Vijaya Bank
ICICI Bank
Axis Bank
HDFC Bank
Syndicate Bank
Punjab National Bank
Corporation Bank

How do I get a Personal Loan with the lowest interest rate in Pune?

When deciding on which loan to avail, it is important to look at all the components of the loan prior to narrowing down on a particular loan. For those looking to reduce the interest rate added on a loan, they must look into the below mentioned areas that affect the interest rate of a loan.

Credit score - Ensuring that your credit score it optimum when applying for a loan is vital. Having a good credit score will result in the bank reducing the interest rate on a loan and vice versa.

Down payment - Making a down payment upwards of 20% of the loan amount will result in you availing a loan with a lower interest rate.

Debt-to-income ratio - When availing a loan from a bank or an NBFC, it is important to ensure that your debt-to-income ratio does not surpass 40%-50% of your monthly net income. If it does, you stand a chance of your loan being rejected or having a higher interest rate added on your loan.

Look for the best possible choice - Facilitating the use of financial portals such as BankBazaar will give you the ability to compare loan offers from its partner banks and choose one that suits your financial status.

Employment and experience - Working for a reputed firm or company and having a number of years of experience increases your chances of availing a loan at the best interest rate possible.

Negotiate - Most customers blindly accept the offer laid down by the bank with regard to a personal loan. Ensuring that you make a negotiation to get the best price on your loan is a necessity.

Tenure - Keeping the tenure short will only reduce the interest rate and vice versa.

Personal Loan Interest rates in Pune 2021

Bank	Interest Rate Range	Processing Fee Range	Loan Amount	Tenure
ICICI Bank	11.59% - 18.49% (Fixed)	2.25% (min. Rs.1149) One time fee	Rs.20 lakh (Max)	1-5 Years
CitiBank	10.99% - 15.99% (Fixed)	1% to 2.5%	Rs.30 lakh (Max)	1-5 Years
Kotak Mahindra Bank	11.49% - 20.15% (Fixed)	Up to 2%	Rs.15 lakh (Max)	1-5 years
Fullerton	17.25% - 37% (Fixed)	1.5% to 6.0% (One time fee)	Rs.15 lakh (Max)	1-4 Years
Bank of Baroda	11.35% - 14.35% (Fixed)	Rs.1,000 to Rs.10,000 (One time fee)	Rs.20,000 - Rs.2 lakh	4 Years (Max)
State Bank of India	12.90% - 14.90% (Fixed)	1% (One time fee)	Rs.24,000 - 15 lakh	5 Years
Aditya Birla	11.5% - 13.25% (Fixed)	Nil	Rs.30 lakh (Max)	1-5 Years
Allahabad Bank	13.10% (Fixed)	1.22% (One time fee)	Rs.50,000- Rs.7.5 lakh	1-5 Years
Yes Bank	14% (Fixed)	Up to 2% (One time fee)	Rs.20 lakh (Max)	1-5 Years

Salary requirements to avail Personal Loans in Pune

The first thing that banks and NBFCs look into before accepting a loan application is the monthly or annual income of the applicant. While going through the other components of the loan, it is important to cross check the salary requirement of that particular loan. The salary requirement fluctuates between banks and loan plans.

For salaried individuals - The salary requirement ranges roughly between Rs.7,500 and Rs.50,000 for salaried employees.

For self-employed individuals - Self-employed have to show proof of their income over the last couple of years when applying for a loan. Generally, an annual profit of Rs.1 lakh to Rs.2 lakh is the basic salary requirement for self-employed individuals.

Pune Personal Loan FAQs

Can I apply for a loan if I already have an existing one?
You can as long as you have a balanced debt-to-income ratio.
Will the loan amount be disbursed in stages or all at once?
The loan will be disbursed all at once when the loan is approved.
What affects the credit score of an individual in most cases?
Failing to pay your loan dues and your credit bills in time results in your credit score dipping below optimum. A good credit score is anything above 750.
How long should I wait before I make a prepayment? Can I make a complete prepayment?
Some banks and NBFCs allow you to make a complete foreclosure of the loan while some only allow a partial prepayment. In most cases, you would have to wait at least 6 months to make a loan prepayment. Most banks and NBFCs charge a prepayment fee of 1-2% on the outstanding balance.
Are the interest rates on personal loans the same between all banks?
No, it differs from bank to bank.

A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

Important Personal Loan Pages

Personal Loan Eligibility By Banks

Bank Based Personal Loan Status

Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Personal Loan Interest rates by Bank

Personal Loan Articles

Disclaimer

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Pune Personal Loan Reviews

Write a Review

"Not Satisfied "

0.5 1.0/5 "Really Bad"

I have applied for HDFC Bank personal loan through online .This loan was not availed since there was no requirement and told me this was a pore approval loan and the application was processed .I have not got any details about rate of interest and the processing fee , I am not satisfied with the overall service .

Was this review helpful? 15

AMIT , pune
Reviewed on Mar 18, 2020
"Very Good Service"

0.5 5.0/5 "Blown Away!"

My personal loan was taken through Incred .The rate of interest and the processing fee was medium and without any hassles this loan was sanctioned and this loan was taken mostly for personal use .I have submitted documents as well as uploaded documents. Overall its good!

Was this review helpful? 0

TEJAS , pune
Reviewed on Mar 15, 2020
"Good Loan Service"

0.5 4.0/5 "Great!"

HDFC Interest rate is low than other banks and i got the loan amount of Rs. 4 lakhs and I don't find any issue on the overall loan process. I applied this loan through online and have uploaded the documents. It took some time to get a approval. I got the interest rate of almost 11% and i have been paying the EMI amount of Rs. 13,140 for the loan amount of Rs. 4 lakhs.

Was this review helpful? 0

PAWAN , pune
Reviewed on Mar 12, 2020
"Need to be process at earlier"

0.5 4.0/5 "Great!"

INCRED has offered high rate of interest which is high of 26% they couldn't negotiated as well. I received the call on delayed from their end, hence they disburse the amount more than a month. The amount of 2L was offered but got of 1.45L only. They deducted 10K for fee and insurance within tenure period of 2 years. EMI need to pay of 7,812 rupees, there is pre closure option after one year.

Was this review helpful? 1

PALLAVI , pune
Reviewed on Mar 12, 2020
"Need to provide more loan amount "

0.5 3.0/5 "Satisfactory"

I have provided my new mobile number to update on TATA CAPITAL portal but still they haven't do it. I applied the amount of1.5L but got only 1.43L with tenure period of 3 years. The rate of interest is nominal. EMI need to pay of 5K. There is an option of pre closure.

Was this review helpful? 0

SANJAY , pune
Reviewed on Mar 11, 2020
"Good Loan Service"

0.5 4.0/5 "Great!"

I was eligible only for Incred personal loan. I had taken the loan amount of Rs. 1.65 L and they have offered me a interest rate of 24% per annum. The processing fee was near about Rs. 5000. The loan amount was credited my account in 4 days. The documentation process was simple.

Was this review helpful? 1

SHRIKANT , pune
Reviewed on Mar 11, 2020
"Need to decrease interest rate"

0.5 4.0/5 "Great!"

I got a call on time from INCRED. The process was done on so they sanctioned the loan amount by 15- 20 days. At initial they told the rate of interest 18% but once approved the interest was increased of 24%. The processing fee is applicable. After 6 months pre closure is avail with some charges. EMI need to pay of 8,988 rupees. Since I was in need of money on that time so taken this loan.

Was this review helpful? 0

YOGESHWAR , pune
Reviewed on Mar 10, 2020
"Good loan offer "

0.5 4.0/5 "Great!"

I taken a personal loan from HDFC on 1.5 years back. The loan amount of 5L was sanctioned within 15 days. The verification process was done at my home. The tenure period of 36 months. The rate of interest is very high of 15% I requested to negotiate an interest rate but they didn't do, though for an emergency purpose basis taken this loan. The processing fee of 5,000 was deducted from the loan amount including an insurance. EMI need to pay of 14,208 rupees. It is one year of locking period for pre closure.

Was this review helpful? 0

SHIV , pune
Reviewed on Mar 07, 2020
"Need to be process on time "

0.5 3.0/5 "Satisfactory"

I have applied a personal loan from HDFC through online. On time I got a call from their end for further process, but on sudden banker has closed the loan process and not shared the reason. The amount was sufficient which was intimated from my end with tenure period of 5 years. The rate of interest is nominal.

Was this review helpful? 1

NANDA , pune
Reviewed on Mar 01, 2020
"Good Service"

0.5 5.0/5 "Blown Away!"

I have applied HDFC Bank personal loan through online. When applied for this loan getting good response and the rate of interest was little high that is the only issue. This loan got sanctioned on time. The agent has given all information about the loan process. I am paying the premium on delay basis and there is no extra charges for delay payment.

Was this review helpful? 1

NARASIMHA , pune
Reviewed on Feb 23, 2020
"Excellent Service"

0.5 5.0/5 "Blown Away!"

My personal loan journey with HDFC Bank was really convenient.The rate of interest and the processing fee was good and this loan was sanctioned on time.This loan was a pre approval loan and also paperless approval since have salary account .I am paying the premium on EMI basis only .

Was this review helpful? 0

SANKET , pune
Reviewed on Feb 18, 2020
"Average Service"

0.5 1.0/5 "Really Bad"

I have applied TATA Capital Ltd personal loan through online. This loan was not availed since not processed .I was not having any issues with the rate of interest and the processing fee. I have submitted documents through the agent. The verification was done by the agent. I would suggest they need to do proper verification.

Was this review helpful? 2

SANKET , pune
Reviewed on Feb 18, 2020
"Need to decrease interest rate"

0.5 4.0/5 "Great!"

I have applied a personal loan with HDFC bank through online. Then I got a call on time from their end for further process. The amount was sanctioned on time without any delay. I have chosen tenure period of 5 years. The rate of interest of 12.25 % which is high. There is locking period of one year fore pre closure of the loan but charge is high so I wont prefer it. Since already I am holding an account with them, so that the process would be easy to complete on time. Hence I chosen this bank.

Was this review helpful? 0

AJAY , pune
Reviewed on Feb 17, 2020
"Good Loan Service"

0.5 4.0/5 "Great!"

In Fullerton, they have given me a loan amount of Rs. 1 lakh after that i have done a top up for Rs. 1 lakh. I have taken this loan for my home renovation. I was eligible only for Fullerton. They have given me a interest rate of 16% which is okay. They are sending the reminders before the due date which is helpful.

Was this review helpful? 3

DANIEL , pune
Reviewed on Feb 15, 2020
"Excellent service"

0.5 4.0/5 "Great!"

The process was very fast and they required very less documents, these are all the main reason for selecting the TATA Capital. I have received a call from them regarding my income and they have offered me a pre-approved loan worth of Rs. 1 lakhs. They have disbursed the loan amount in 3 days.

Was this review helpful? 0

DANIEL , pune
Reviewed on Feb 15, 2020
"Good Service"

0.5 4.0/5 "Great!"

Interest rate is so high with Home Credit personal loan. There is no customer support and branch support in Home credit. After the disbursement, they have informed about their charges. There is a lot of hidden charges like late fee charges and extra processing fee, high interest rate. The loan is still going on and it gets closed after paying 4 EMIs.

Was this review helpful? 0

MADHURI , pune
Reviewed on Feb 15, 2020
"Good Services and very helpful customer care"

0.5 5.0/5 "Blown Away!"

There is a less interest rate is provided by TATA capital so that i availed the personal loan with them. I have taken the loan amount of Rs. 1.20 lakhs and they provided me a interest rate of 18%. I got the disbursement in 15 days. They charged me a processing fee of Rs. 10000. They have a pre-closure facility without having any additional charges.

Was this review helpful? 0

MADHURI , pune
Reviewed on Feb 15, 2020
"Good service"

0.5 4.0/5 "Great!"

I am hardly going to close a personal loan by 3-4 months which I have taken from ICICI bank. The rate of interest is less. EMI amount is also nominal to pay. I can check pre closure option in mobile app. I don't have saving account even though, I can check transaction details in their mobile app. There is locking period of 6 months for pre closure option. I have taken this loan 2 years back and got a sufficient amount, the tenure period was 2 years.

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MAHEEDHAR , pune
Reviewed on Feb 15, 2020
"Need to decrease interest charge"

0.5 4.0/5 "Great!"

I had applied a personal loan in many banks but all was rejected only HDFC bank has processed my loan application for the good loan amount. But I am getting many calls for unnecessary purpose from other bank which to be avoided. They have sanctioned the amount of 3.25L with tenure period of 3 years. EMI use to pay of Rs.11,500. Interest was high of 11.9% due to need have taken it. The processing fee of 5K. There is locking period of one year for pre closure option.

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CHUNDU , pune
Reviewed on Feb 14, 2020
"Very good service"

0.5 5.0/5 "Blown Away!"

I have taken Tata Capital Ltd personal loan through online .The service was really good ,The rate of interest and the processing fee was nominal .Once verification was done and submitted the documents the loan amount was sanctioned immediately .I am really convenient with the service .

Was this review helpful? 0

BHIM , pune
Reviewed on Feb 14, 2020

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