• Ranchi Personal Loan

    Ranchi is the capital of Jharkhand and has a variety of banks and financial institutions that offer personal loans at interest rates as low as 10.99%. If you want funds to meet emergency expenses, getting a personal loan in Ranchi is as simple as ever. With interest rates starting from just 10.99% in addition to flexible repayment tenures, easy eligibility criteria and hassle-free documentation processes.
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    We found 19 Ranchi Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.50% One time fee
    Up to Rs.40L
    1 - 5 Years
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    11.00% - 16.75% Fixed
    Up to 3.50% One time fee
    Up to Rs.25L
    Up to 5 Years
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    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
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    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
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    17.00% - 26.00% Fixed
    2.00% One time fee
    Rs.2L - Rs.20L
    0.5 - 4 Years
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    The capital city of the state of Jharkhand, Ranchi has a lot to boast about. It is a city with an urban format that caters to the growing needs of the city.Since the separation of the state, the city of Ranchi has adopted an open attitude to welcoming new industries and encouraging trade and commerce.The population of the city is on a steady increase and now that the city is well connected with other major parts of the country, there is a trend suggesting migration from nearby locations. A major healthcare hub for nearby towns and a strong contributor to the nation’s economy, Ranchi has definitely made its way up the ladder.

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.

    Documentation needed to apply for an Ranchi 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

    Ranchi Personal Loan Interest RatesUpdated on 23 Jun 2021

    Ranchi 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 Ranchi

    Ranchi is the capital of Jharkhand and boasts of having the highest population in the state. There are a number of major banks and financial institutions that have been providing personal loans to the people of Ranchi. These institutions also provide unsecured loans that range from Rs.50,000 to Rs.40 lakhs. Getting a personal loan is Ranchi is easy and hassle-free.

    Personal Loans offered by various Banks in Ranchi

    There are a number of leading banks and NBFCs that offer personal loans to customers who are located all over Ranchi. In addition to providing personal credit, these banks also offer a number of different banking facilities like investment advice, netbanking, asset management, and other forms of commercial lending. Listed below are a few of the prominent banks that provide personal loans and operate out of Ranchi:

    • Citibank
    • Standard Chartered
    • ICICI Bank
    • HDFC Bank
    • Kotak Mahindra

    How to Get a Personal Loan with the Lowest Interest Rate in Ranchi

    There a few factors that need to be considered when applying for a personal loan in Ranchi. You will have to draft your application in a way where you are able to get a good interest rate from the bank. The interest rate that is offered will depend on the lender who you wish to borrow the sum of money from. Though personal loans are easy to apply for, it is very important that you check your credit score before applying for a loan. A good credit can not only help you get the loan amount that you desire, but also help you avail a good and affordable interest rate on the loan. A credit score that is 750 and above is considered as a good score and this will help you get a better deal on your loan. The interest rate offered by the financial institution that you approach is directly proportional to your credit score which means that a high credit score will avail a lower interest rate and vice-versa.

    Another thing to keep in mind when applying for a personal loan is to assess your financial requirements before applying for the loan. If you end up borrowing a high amount that you don’t really need, you will end up paying extra money to the bank as interest. Similarly, if you borrow a lower sum, you will end up taking another personal loan to meet your needs which means you will have to pay an interest on another loan amount. Therefore, it is important that you access your needs and see how much financial banking you require to meet your needs to avoid paying any money towards interest that you could have avoided.

    Personal Loan Interest Rates in Ranchi 2021

    There are a number of major public and private sector banking institutions that offer personal loans to the residents of Ranchi. Listed below are some of the banks in Ranchi and their interest rates:

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    Citibank 1% to 2.5% 11.49%-15.99% (Fixed) Rs.30 lakhs 1-5 years
    Capital First Up to 1.5% (OTF*) 12%-18% (Fixed) Rs.15 lakhs 1-5 years
    Standard Chartered Nil 10.99%-14.49% Rs.30 lakhs 1-5 years
    HDBFS 1%-2% (OTF) 13.99%-16.99% Rs.30 lakhs 1-5 years
    TATA Capital Nil 11.99%-19.50% Rs.20 lakhs 1-6 years
    ICICI Bank 2.25% (Min. Rs.1,149) 11%-17.99% Rs.20 lakhs 1-5 years
    IndusInd Bank Up to Rs.3,000 (OTF) 11.99%-19% (Fixed) Rs.25 lakhs 1-5 years
    Oriental Bank 0.5% (OTF) 10.85%-11.85% Rs.50,000-Rs.10 lakhs 1-5 years
    HDFC Bank Up to 2.5% (OTF) 10.99%-19.8% (Fixed) Rs.25 lakhs 1-5 years
    Aditya Birla Nil 11.5% to 13.25% (Fixed) Rs.30 lakhs 1-5 years
    Fullerton 1.5% to 6% (OTF) 17.25% to 37% (Fixed) Rs.15 lakhs 1-4 years
    HDBFS Business Loan 2% (OTF) 15.95%-18.95% (Fixed) Rs.20 lakhs 1-3 years
    Kotak Mahindra Up to 2% 11.49% - 20.15%Fixed Rs.15 lakhs 1-5 years
    Allahabad Bank 1.22% (Min. Rs.1,228) 13.10% (Fixed) Rs.50,000 to Rs.7.5 lakhs 1-5 years
    Bank of India Rs.1,000 to Rs.10,000 (Service Tax not included) 13%-14% (Fixed) Rs.10,000-Rs.5 lakhs 1-3 years
    Bank of Baroda 1% (Min. Rs.1,000) OTF 11.35%-14.35% (Fixed) Rs.20,000 to Rs.2 lakhs 4 years
    BOM 1% (Min. Rs.1,000) 12.75% (Fixed) Rs.1.5 lakhs 1-3 years
    Canara Bank Rs.1,000 to Rs.5,000 (OTF) 12.75% (Floating) Rs.3 lakhs 5 years
    Dena Bank 1% (OTF) 13%-14% (Fixed) Rs.15,000 to Rs.1 lakh 1-3 years
    Central Bank Rs.500 (OTF) 11.4% (Floating) Rs.10 lakhs 4 years
    Indian Bank Rs.508 to 0.508% (OTF) 12.65% to 13.65% (Floating) Rs.50,000 Max. 3 years
    IDBI Bank 1%+S.T. (OTF) 12.20% (Floating) Rs.50,000 to Rs.10 lakhs 1-5 years
    IOB 1.01% to 1.10% (OTF) 13.65% (Fixed) Rs.1 lakhs to Rs.15 lakhs 1-5 years
    South Indian Bank 0.50% (OTF) 13% (Fixed) Rs.3 lakhs 1-4 years
    Karur Vysya 0.4% (OTF) 13.35% to 15.85% Rs.1 crore Max. 1-3 years
    SBI 1% (OTF) 12.90% to 14.90% Rs.24,000 to Rs.15 lakhs 5 years
    Vijaya Bank Nil 13.50% (Fixed) Rs.10 lakhs 1-5 years
    Tamilnad Mercantile 1% (OTF) 14.30% to 16.30% (Floating) Rs.2 lakhs Max. 1-5 years
    Union Bank 0.5% (Min. Rs.500) OTF 14.4% (Floating) Rs.5 lakhs Max. 1-5 years
    UCO Bank 1% (Min. Rs.750) OTF 11.35% to 11.60% (Fixed) Rs.10 lakhs 5 years
    Yes Bank Up to 2% (OTF) 14% (Fixed) Rs.20 lakhs 1-5 years

    *OTF – One Time Fee

    Salary Requirements to avail Personal Loans in Ranchi

    When a bank or NBFC receives an application for a personal loan, there are a few factors that they consider before sanctioning the loan. One of these factors is the individual’s salary. The financial institution needs to be certain that the individual can repay the amount. Some of the requirements that need to be met to avail a personal loan are listed below:

    • The age of the applicant should be anywhere between 21 years and 60 years.
    • A salaried individual should have a minimum monthly income of Rs.15,000. This minimum requirement will vary from one bank to another.
    • The applicant should have resided in Ranchi for a minimum of 1 year.
    • The applicant should is required to have a minimum work experience of 2 years.
    • Applicants will be required to submit a couple of documents like bank statements, address proof, identity proof, etc.

    Ranchi Personal Loan FAQs

    1. How long will the bank take to approve my application for a personal loan?

      The time taken to approve an application for a personal loan will depend from bank to bank. While some banks approve loan applications with 48 hours, some banks take at least a week. Usually a loan application is approved between two and seven working days.

    2. Are there any additional charges associated with a personal loan?

      Yes, there is. Almost all banks charge a processing fee ranging from 2% to 2.5% of the amount you wish to borrow, and the fee is generally deducted from the amount disbursed to you.

    3. How do I repay my personal loan?

      The repayment of personal loans can be done in Equated Monthly Instalments (EMIs) via post-dated cheques favouring the bank from which you have availed the loan. You could also link your debit account to your loan in case you borrow from a bank with which you hold a savings bank account and the amount will be deducted automatically.

    4. Can I get the balance transfer facility in my personal loan?

      It depends on the bank. Some banks offer the balance transfer facility if the customer has paid 12 EMIs. Check with your bank before applying for the loan if they offer the same.

    5. How much money can I borrow through a personal loan?

      The lender will determine the limit you have when it comes to taking a personal loan. A number of factors will be considered before the bank approves your application, but loans up to Rs.5 lakhs are disbursed by most banks.

        

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    Ranchi Personal Loan Reviews

    • HDFC Bank
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken HDFC bank personal loan through online. This loan was availed for my personal use and rate of interest, processing fee was not an issue. Everything is good to me so far and documents are submitted through agent only .This loan was sanctioned on proper time frame without any delay.There was proper callback and follow up from bank end .
      Was this review helpful? 1
      , ranchi
      Reviewed on Feb 19, 2020
    • HDFC Bank
      HDFC Bank
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan directly through HDFC bank .This loan is still active, the rate of interest and the processing fee was very high .I am paying the premium on EMI basis and the loan detail was clearly shared by the agent .This loan is still active and i will be closing this loan very soon.
      Was this review helpful? 3
      , ranchi
      Reviewed on Feb 10, 2020
    • RBL Bank
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Ratnakar Bank. I have opted for the loan amount 50K and paying the monthly EMI of Rs.2,350 for 26 months. I received the call from the bank with pre approved offer and the loan got credited within one hour. Processing fee is applied and it is normal.
      Was this review helpful? 1
      , ranchi
      Reviewed on Feb 06, 2020
    • RBL Bank
      "Very good service "
      0.5 5.0/5 "Blown Away!"
      Home credit App is very user friendly and good to handle and easy to understand .The rate of interest was really high and on time got the loan amount that was really good to me .I have just uploaded documents through online .The loan was processed on proper time without any drawbacks .
      Was this review helpful? 0
      , ranchi
      Reviewed on Jan 29, 2020
    • RBL Bank
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through Home Credit India Private Limited through Online .There was no drawbacks faced so far,The rate of interest and the processing fee was high since had requirement taken the loan .There was no drawbacks faced until got this loan .The whole process of this loan was clearly explained by the agent.
      Was this review helpful? 0
      , ranchi
      Reviewed on Jan 12, 2020
    • HDFC Bank
      "Average"
      0.5 1.0/5 "Really Bad"
      I had applied for personal loan from HDFC Bank online. They had closed my application because my salary is below norms. I had submitted my documents and verification was also done. Their executive told me that if I don't pay money loan would not be approved.
      Was this review helpful? 0
      , ranchi
      Reviewed on Oct 04, 2019
    • HDFC Bank
      "Need to reduce the rate of interest"
      0.5 3.0/5 "Satisfactory"
      I have requirements for a personal loan but the rate of interest is higher with HDFC BANK and I got a better offer from IDFC Bank with ROI of 11.5% but they were charging me 18.5%. I would appreciate, if they could reduce the rate of interest. I did not provide any documents to the bank.
      Was this review helpful? 0
      , ranchi
      Reviewed on Sep 18, 2019
    • HDFC Bank
      "Faster approval"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HDFC BANK before 6 years. The rate of interest is nominal at that time. My loan is completed and got NOC letter without any issues. They have sanctioned me 2L and the processing was applicable. The documentation process was simpler, only they collected 2 passport size photos and 3months pay slip and bank statements.
      Was this review helpful? 0
      , ranchi
      Reviewed on Sep 18, 2019
    • HDFC Bank
      "Average"
      0.5 5.0/5 "Blown Away!"
      The response was very good from HDFC BANK but till now, I don't have any requirements for a personal loan to process further. They did not tell me how much interest rate they are charging at present when I asked them which am not satisfactory. And told me to provide my payslip based on that they will fix the interest rate accordingly.
      Was this review helpful? 0
      , ranchi
      Reviewed on Sep 18, 2019
    • HDFC Bank
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have not faced any difficulties while submitting the documents the agent told will receive more amount but got lesser loan amount only .There was proper follow up and process was really helpful .I have got the loan amount on time and it was sufficient as well.
      Was this review helpful? 1
      , ranchi
      Reviewed on Aug 12, 2019
    • HDFC Bank
      "Very Good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from HDFC Bank through Bankbazaar. Rate of interest is very high, I spoke to them to reduce the rate of interest but nothing happened. Loan amount was also not sufficient, I was looking for 3.2 lakh but I have got only 2.75 lakh.
      Was this review helpful? 0
      , ranchi
      Reviewed on Aug 08, 2019
    • HDFC Bank
      "Average"
      0.5 1.0/5 "Really Bad"
      I applied for a personal loan from HDFC Bank. I submitted all the documents. They wanted salary slip so they closed the application as I don't have salary slip. HDFC Bank rate of interest is nominal and loan amount they were providing was sufficient.
      Was this review helpful? 0
      , ranchi
      Reviewed on Jul 12, 2019
    • Citibank
      "Need improvemnt in loan amount and Rate interest"
      0.5 3.0/5 "Satisfactory"
      I have selected Citi personal loan 5 lakhs and tenure period 4 years and Rate interest is high 12% and documents submitted online, and verification call received . I Request 10 lakhs but from banker end they provide less amount . So have closed loan.
      Was this review helpful? 0
      , ranchi
      Reviewed on Jun 07, 2019
    • HDFC Bank
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I had taken a Personal loan from HDFC BANK in the month of March and it was a good experience. The Bank representative who had came to collect the documents where so professional and the interest rate which they had offered was less. There was also processing fee with this loan.
      Was this review helpful? 0
      , ranchi
      Reviewed on Apr 05, 2019
    • HDFC Bank
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Personal loan .Due to rate of interest selected HDFC Bank.Loan amount was sufficient and received the loan amount on time There was no issues faced until i have received the loan amount .Got clear picture about the loan process through the agent .There was no difficulties faced when submitted the documents as well .The Overall Service is Good to me .
      Was this review helpful? 2
      , ranchi
      Reviewed on Mar 26, 2019
    • HDFC Bank
      "Good"
      0.5 4.0/5 "Great!"
      The loan process was very slow but its not an issue, good. The rate of interest is average and processing charges are not very much high. They have taken 2500 rupees for 1L and loan tenure is only one year. First I have submitted the documents online and gave to executive also.
      Was this review helpful? 1
      , ranchi
      Reviewed on Jan 12, 2019
    • Fullerton
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The process was very smooth with Fullerton personal loan application, i received my loan amount within 4 days. The loan amount was for Rs 1 lac with the tenure period of 5 years and with high interest rate. Customer service was good and they collected documents on time.
      Was this review helpful? 5
      , ranchi
      Reviewed on Oct 11, 2018
    • ICICI Bank
      "Good "
      0.5 3.5/5 "Pretty good"
      My personal loan was taken with ICICI Bank. The loan amount was 4 lakhs and the interest rate was satisfactory .The tenure period was 4 years . The customer service and responses was up to the mark. The [process was bit slow here and they have taken some time but the processing fee was nominal
      Was this review helpful? 0
      , ranchi
      Reviewed on Jun 22, 2018
    • ICICI Bank
      "Good service"
      0.5 3.5/5 "Pretty good"
      My personal loan was taken with ICICI Bank. The loan amount was 4 lakhs and the interest rate was satisfactory .The tenure period was 4 years . The customer service and responses was up to the mark. The process was a bit slow here and they have taken some time but the processing fee was very much nominal.
      Was this review helpful? 0
      , ranchi
      Reviewed on Jun 21, 2018
    • ICICI Bank
      "Excellent service"
      0.5 4.0/5 "Great!"
      The ICICI bank personal loan service was good and they have disbursed the loan amount within 5 days of time. The customer support was good with the ICICI bank. The rate of interest and the charges are average with ICICI bank. I am satisfied with the loan amount.
      Was this review helpful? 1
      , ranchi
      Reviewed on Dec 05, 2017
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