1.Minimum per month Income of Rs.18500 in Metro cities required.
2. Minimum per Month Income of 12500 required in other cities like Tier 1, 2 & 3.
3. Age Must be above 21 Years.
4. Regular Source of Income with Valid proof of income like – Pay Cheque, Account Transfer. Cash salary is not considered by any bank.
5. Minimum 6 Month stability in current company for Salaried, 2 Years ITR for self-employed / Professionals.
6. CIBIL Score must be above 750 points.
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273,923 crores worth of Personal Loan Applications received! (last updated on 27 July 2016)
Interest rates on any loan plays an important part so always choose the lowest one is beneficial. Personal loan interest rates for most of the banks starts from 13.50% to 22.00%. Some banks offer special interest rates to its customer on the basis of Company, Profile, Residential status, Income per month. Banks offer lowest rates to only CAT A based company employees. So have a look at major banks personal loan interest rates below:
|Bank||Personal Loan Interest Rates|
|HDFC Bank||11.49% - 19.50%|
|SBI Bank||12.60% - 15.10%|
|Bajaj Finserv||15.00% - 16.00%|
|Kotak Bank||11.50% - 19.65%|
|Fullerton India||21.00% - 32.00%|
|ICICI Bank||13.49% - 17.50%|
|Axis Bank||15.00% - 20.00%|
|TATA Capital||12.50% - 19.50%|
|Bank||Interest Rates||Processing Fees||Fore Closure Charges||Disbursal Time|
|HDFC Bank||11.49% - 19.50%||Rs.999 / - 2.50%||Zero above 10 lakh, Otherwise 4.00%||48 working hours|
|SBI Bank||12.60% - 15.10%||2.00% - 3.00%||NIL||72 working hours|
|Bajaj Finserv||15.00% - 16.00%||2.25% - 3.00%||4.00%||72 working hours|
|Kotak Bank||11.50% - 19.65%||1.50% - 2.00%||Zero above 10 lakh, Otherwise 5.00%||60 working hours|
|Fullerton India||21.00% - 32.00%||2.00%||Upto 4.00%||48 working hours|
|ICICI Bank||13.49% - 17.50%||0.50% - 2.25%||Zero above 10 lakh & 12 EMI Paid, Otherwise 5.00%||48 working hours|
|Axis Bank||15.00% - 20.00%||2.00%||N.A||60 working hours|
|TATA Capital||12.50% - 19.50%||1.25% - 2.50%||NIL||72 working hours|
Results shown to you by calculator on the basis of your entered details in the calculator. For example if you applied for 2 lakh of loan amount @ 15.50% rate of interest for 4 years repayment period than you have to pay Rs. 5616.97 per month for 4 years.
If you want to check for how much loan amount you are eligible, so go through this link which let you know the exact amount on the basis of your Net monthly Income, Liabilities, No. of dependents etc etc. Click Here for calculate eligibility on personal loan
ICICI Bank offers personal loans up to Rs. 20 lakh for salaried, up to Rs.30 lakh for self employed and up to Rs.40 lakh for doctors.ICICI Bank offer flexible repayment option of 12-60* months.• Interest Rates starts from 11.49% p.a*
Axis bank’s personal loans will give you a helping hand meet all your personal requirements.• Loan amount from 50000 to 15 Lakh