Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Srinagar Personal Loan

    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
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    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
    10.99% - 19.8% Fixed
    Up to 2% 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
    11.49% - 21.00% 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
    0 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
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) 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
    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
    What you'll love
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    Perks
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    Good to Know
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    Customer Reviews
    12% - 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
    10.70% - 11.70% 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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    Perks
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    Good to Know
    Eligibility Criteria
    14% - 33% 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% - 16.49% Fixed
    Up to 2.5%
    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
    11.75% - 13.75% Fixed
    1% 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
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  • Srinagar Personal Loan Reviews

    • Bank Bazaar Customer Support
      "User friendly and good financial advisor"
      0.5 5.0/5 "Blown Away!"
      Basically I visited Bank Bazaar site to avail personal loan, within a hour I got a call, they provided me the information. The proactively contacted me and gave me HDFC loan option. There was no miscommunication found in Bank Bazaar, In fact Site is also easy to use
      Was this review helpful? 0
      , srinagar
      Reviewed on Jun 23, 2017
    • HDFC Bank Personal Loan
      "Interest rate should be flexible as other competitor"
      0.5 3.0/5 "Satisfactory"
      HDFC were providing the interest rate around 14.25% it was high compared to other banks, Hence I don't have interest to process with HDFC. I asked them to reduce but they said it was the reversed one. In term of service wise HDFC is really good as they called me twice.
      Was this review helpful? 0
      , srinagar
      Reviewed on Jun 23, 2017
    • Jammu Kashmir Bank Personal Loan
      "Quick disbursal!"
      0.5 4.0/5 "Great!"
      I got my personal loan disbursed from J&K bank. As they are having more number of branches, it was easy for me to reach them for queries. Though I applied for a loan amount of 10L, they disbursed the loan amount within 24 hours and I am quite happy with their disbursal!
      Was this review helpful? 1
      , srinagar
      Reviewed on Feb 01, 2016
    • HDFC Bank Personal Loan
      "Really good "
      0.5 5.0/5 "Blown Away!"
      HDFC Bank car loan process is really good. Interest rate offered by them was 10.75% initially later they have increased it to 12% . Finally they have reduced it to 10.5%. Their procedure is quite simple. There was some processing fee which was charged and they advised me to pay the amount straight to the dealer, I wonder why.
      Was this review helpful? 5
      , srinagar
      Reviewed on Apr 21, 2015
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    Srinagar Personal Loan is Rated as "Great!" by 4 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Srinagar is the capital of Jammu and Kashmir State in India. Situated in the heart of the Kashmir valley, this beautiful place is rightly known as the “Heaven on Earth”.The city is also famous for fresh fruits, dry fruits and spices. The city is considered to the hub from where handicrafts, woolen clothing and fruits are delivered to different parts of the country.There are a number of educational institutes in the city of Srinagar. The National Institute of Technology, Srinagar, is one of the oldest NIT in the country. There are a large number of retail shops in Srinagar which display some of the most exquisite collections of carpets, shawls, handicrafts and many more. The city also exports spices such as cardamom, cloves, saffron, cinnamon and so forth

    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.


    You’re probably eligible for an Srinagar Personal Loan if you are

    01
    02
    03
    04
    Srinagar Personal Loan Minimum Age

    At least 21 years old

    Srinagar Personal Loan Maximum Age

    Less than 65 years old

    Srinagar Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Srinagar Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Srinagar Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Srinagar Personal Loan Minimum Salary

    Minimum income required
    Rs.17,500 per month

    Srinagar Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 50K to Rs. 30 lakhs

    Srinagar Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Srinagar Personal Loan amount by these steps

    01
    02
    Srinagar Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Srinagar

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Srinagar 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

    Srinagar Personal Loan Interest RatesUpdated on 29 Jul 2017

    Srinagar 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 Srinagar

    Srinagar, the largest city in Jammu and Kashmir, has a number of leading banks and NBFCs which offer personal loans to customers who reside in Srinagar so that their financial needs and requirements are met. In addition to personal loans, banking institutions offer other services such as asset management, core banking facilities, alternate forms of commercial lending, and investment advice.

    Personal Loans offered by various Banks in Srinagar

    Some of the prominent financial institutions that are located in Srinagar that offer personal loans at attractive interest rates are listed below:

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

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

    When you apply for a personal loan in Srinagar, there are a few factors that play an important role in securing your loan. The format and information provided in your application letter plays a vital role in having a personal loan sanctioned as well as the interest rate offered on the loan amount. The interest rate that is offered by the lender who sanctions the loan to you. Though a personal loan is easy to apply for, you should be cautious when applying for one. A good credit score plays a vital role in applying for a loan. A credit score of 750 and above is considered as a good credit score to have and this plays a big role in getting your application for a personal loan approved. The interest rate is also dependent on this criteria. A credit score that is higher than the benchmark that has been set by banks and lenders will fetch a lower interest rate for your loan and vice-versa. If you have a bad credit score, you should do what you can to increase it. Paying off any unpaid premiums or loans is a good way to increase your score.

    You should also make sure that you do an ample amount of research before you apply for a loan amount with a bank. You have to have a clear idea about the banking institution that you want to apply for a loan to as well as the amount that you need to borrow from the bank. If you end up borrowing an amount that exceeds the amount that you really require to meet your needs, you will end up paying an extra amount to the banking institution as interest. If you borrow an amount that falls short of meeting your needs, you might end up applying for another loan amount. This can become a hassle as managing two loans can be quite risky. You could end up missing out on a payment which would lead to a drastic drop in your credit score.

    Personal Loan Interest Rates in Srinagar 2017

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

    Bank Processing Fee Interest Rate 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
    Kotak Business Loan 0.99% to 2% 12.99% to 14.50% Rs.45 lakhs 1-5 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 (GST 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 Srinagar 

    There are a few factors that a banking institution has to consider when they receive a loan application. One criteria that they look for is your capability to repay the loan amount that you have borrowed. The salary requirements needed to repay a loan amount has been listed below:

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

    Srinagar Personal Loan FAQs

    1. Are there any additional charges that are associated with a personal loan?

      Yes, there are additional charges. Most banks charge from 2% to 2.5% of the total amount that you wish to borrow. The fee is deducted from the amount that has to be disbursed to you.

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

      The time taken to approve and sanction a personal loan will vary from bank to bank. While some banks approve loan applications within 48 hours, there are some banks that take at least a week. Usually a loan application is approved between two and seven working days.

    3. How do I repay my personal loan?

      The repayment of a personal loan can be done in the form of Equated Monthly Instalments (EMIs) via post-dated cheques in favour of the bank from which you have availed the loan. You could even link your debit account to your loan if you have taken a loan from a bank where you have a savings bank account. The amount that you need to pay as EMI will automatically get deducted from your savings account.

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

      It depends on the bank. There are some banks that offer the balance transfer facility if the customer has made at least 12 EMI payments. You can check with your bank before you apply for the loan.

    5. Can I receive Tax Benefits on my personal loan?

      Unless the personal loan is used for a home renovation project, tax benefits are not associated with personal loans. You can, however, avail tax benefits under Section 24 of the Income Tax Act on the interest that is paid on the loan but not on the principal amount that is paid.

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