Get your Salaried Personal Loan

  • Loan ID : N0180
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Think of Personal Overdraft or credit line OD henceforth instead of standard fixed EMI based personal loan. Quick on-the-go cash withdrawal facility for salaried professionals against approved loan amount. Personal loans are used for multi-purpose which means that they are entirely natural and therefore they can be used for various things including your wedding, any medical emergency or even having your home renovated to having your dream vacation right now. In fact, with the help of personal loans, you can get your financial problems sorted quickly and at a low rate of interest.

What are the benefits and features of having personal loan?

  1. You don't have to require collateral for using a personal loan for yourself. One of the main benefits of having personal loan is that you don't have to provide a collateral for the same.
  2. Everyone needs proper documentation in this age of digitization. But if you have personal loans, then you don't have to get through the process of lot of literature for yourself.
  3. You can get your personal loan approved from the right type of bank that you want. In times of financial emergencies, it becomes hard for you to get through a mortgage, but this approval will help you to reduce time in the whole process.
  4. It is entirely multipurpose. This means that you can try to do anything you want with the help of your personal loan that you intend to take.

What is personal loan eligibility?

There are some different eligibility options for several loans from various banks. The eligibility criteria for the salaried and even the self-employed are different.

Age18/21 years - 60/65 years
Employment Type1. Salaried
2. Self-Employed professionals
Credit score750 or above with a good credit history
Minimum Net Income (Monthly)
  • 20,000(non-metro cities)
  • 25,000(metro cities)
Loan AmountUp to 50 lacs depending on the credit profile
Work Experience

Salaried

  • Employed at the current company for at least 6/12 months

Self-Employed

  • Business tenure of at least three years (continuous)
  • ITR of the last three years

What are the documents required for a personal loan?

Here are the documents required by salaried individuals for a personal loan.

  1. Identity and age proof.
  2. PAN Card
  3. Residence proof like passport, driving license, Aadhar Card, utility bills, etc.
  4. Bank statements for the last three months.
  5. Salary slips for the last three months.

Here the documents required by self-employed individuals for a personal loan (known as a business loan).

  1. Identity and age proof.
  2. PAN Card.
  3. Residence proof like passport, driving license, Aadhar Card, utility bills, etc.
  4. Bank statements for the last three months.
  5. Income tax returns of the last three years.
  6. Last three years, CA Certified Auditor Balance Sheet with Profit and Loss Statement.

Personal loan comparison table

Here is the personal loan comparison table for various banks

BANK/NBFCInterest Rate(pa)Loan AmountProcessing FeesPart Payment Pre-closure ChargesLocking PeriodTenure
IDFC First Bank11.69% - 15.00% (BT rates starts from 11.50%)1Lakh to 20LakhsUp to 2.0% of the loan amountUp to 40% of the loan amount every year3% on your principalThree months12 to 60 months
HDFC Bank10.99% - 20.00%50k to 40LakhsUp to 2.50% of the loan amount subject to a minimum of 1,999/- & Maximum of 25000/-Up to 25% of Principal Outstanding allowed13-24 Months - 4% of Principal12 Months12 to 60 months
ICICI Bank11.50% - 16.75%50k to 25 LakhsUp to 2.25% per annum of loan amount plus GSTNot available5% per annumSix months12 to 60 Months
Axis Bank11.29% - 17.00%1 Lakh to 20 LakhsUp to 2.5% of the loan amountUp to 25% of Principal Outstanding allowed4% plus applicableOne month12 to 60 Months
Kotak Bank11.00% - 24.00%1Lakh to 30LakhsUp to 2.5% of the loan amount + GST and other applicable statutory levies-5% of the outstanding amount12 months12 to 48 Months
TATA Capital12.5%-19.00%75k to 20LakhsFrom 999/- Up to 2.0% of the loan amount and applicable Service Tax

Up to 25% of the principal outstanding (2% of the amount paid + GST)

*Maximum of 50% of the principal outstanding permissible

>6 months - 4% of principal outstanding6 Months

12 to 72

 

 

Months

IndusInd Bank11.49% - 20.00%1Lakh to 20LakhsUp to 2.50% of the loan amount plus tax-4% of the principal1 Year12 to 60 Months
Fullerton12% - 28%75k to 20Lakhs2% - 6% of the loan amount plus GST Within seven months to 17 months - 6%6 Months12 to 60 Months
IIFL12.99% - 20.00%1Lakh to 20LakhsUp to 2% of the loan amount plus GST-Up to 4% of the Principal Outstanding6 Months12 to 60 Months
RBL Bank14.00% - 20.00%1Lakh to 20Lakhs1.5% of the loan amount (Non-Refundable fee of Rs 7500 Upfront, Rest at the time of disbursal)NILNIL12 months12 to 60 Months
Yes Bank10.75% - 16.99%1Lakh to 25LakhsUp to 2.50% of the loan amount subject to a minimum of 999/- plus taxes• 20% Principal Outstanding for 12 – 24 months13 – 24 months -12 month 

Illustrative Example:

With a representative 10.99% APR for a personal loan borrowing of 10 lacs and repayment tenure of over 5 years, one stands to pay monthly repayments/EMI for 21737 only.

Why should I apply personal loan at Apply-Loan.com ?

  • Option to choose from Multiple Lenders: Apply-Loan.com helps you to compare various personal loan options along with their interest rates, processing fees, EMI before applying for an ideal one as per the information (salary, income, residence, etc.) you have provided on the website.
  • One Platform for all Information: LoansJagat.com, India's best loans platform has collaborated with various private sector banks and NBFCs to offer various personal loan offers on a single online platform.
  • Compare, Choose and Apply: Apply-Loan.com provides you the convenience of hassle free personal loan application from the best bank/NBFC without visiting individual websites of banks and other lenders. Simply Compare, choose and apply for the best personal loan option available for your customised profile.
  • Apply online/Offline: Online services saves both time and money. You can apply for a personal loan at LoansJagat without any hassle for both online and offline way with doorstep services. Also, LoansJagat eases the experience of online personal loan application by offering paperless approval of loan and hence helping conserve the environment.
  • Data Privacy Assured: All personal loan applications submitted with Apply-Loan.com are sent electronically to the concerned bank department assuring complete privacy and transparency.
  • Free Of Charge, No hidden fees:- Loansjagat services are free of cost for all our customers. We are authorised and associated channel partner of various banks and NBFCs for distribution of loan, pan India.

How to apply for personal loan at Apply-Loan.com ?

To apply for personal loan with LoansJagat, simple steps need to be followed: -

Step 1. Eligibility Check: The first step is to check your eligibility by entering your personal and financial details such as your required loan amount, monthly salary, company name, current loan EMI amount(if any) along with email ID and mobile number.

Step 2. Multiple Bank Offers: On the basis of your eligibility, various customised bank offers will be flashed. Compare and choose the best loan offer that suits your requirement.

Step 4. Simply Apply:- After choosing the best offer, fill the basic details and submit the application for quick loan approval.

Step 5:- Quick Loan Disbursal:- Our team will assist you through the whole process required to be done for loan processing and disbursal at your convenience with end to end support.

Types of Personal Loans:

  1. Personal loan for home improvement options. This a kind of credit that you can have if you want to improve the working conditions of your home. This will help you to fill the instant loan options from remodeling kitchen to make your house a perfect place to live in.
  2. Personal loan is used for the wedding as well. In the current market, a wedding can cost you up to lacs, and it can be costly for you. In India, to fund your regular marriage, you can have the Personal loan for yourself and repay it back in easy monthly instalments at your ease.
  3. A personal loan is also needed for the long-loved vacation that you needed to have. This means that with the use of cash, you can have it to fund your travel to the favorite destination that you want. As vacation at right age is more precious than saving for the older age vacations.
  4. A personal loan balance transfer is something which you can do for reducing your existing Rate of Interest on your running loan amount. Also by transferring your loan from one bank to another bank you may be eligible for getting more funds in your bank account in the form of Top up of current loan. It is very good option of reducing EMI burden and getting funds at the same time.

Personal loan rate of interests

Interest Rates10.75% - 28% p.a
Processing FeeDiffers from bank to bank; generally ranges between 1%-3% of the loan amount
Loan Tenure12 months to 60 months
Loan Amount1lakh - 50 lakhs
Lock-in periodVaries from lender to lender
Preclosure ChargesDiffers; Generally between 2%-6% of the loan outstanding
Guarantor RequiredVaries on different conditions

The best type of Personal loan in India

S. No.Bank NameInterest rate (p.a)Loan Amount
1Yes Bank10.75% - 16.99%1 lakh - 25 lakhs
2ICICI Bank11.50% - 16.75%50k - 25 lakhs
3HDFC Bank10.99% - 17.00%50k - 40 lakhs
4Kotak Bank10.75% - 18.00%1 lakh - 30 lakhs
5Tata Capital12.5%-19.00%75k - 20 lakhs
6IndusInd Bank11.49% - 20.00%1 lakh - 20 lakhs
7IDFC First Bank11.69% - 15.00%1 lakh - 20 lakhs
8Bajaj Finserv12.00% - 16.00%1 lakh - 20 lakhs
9IIFL12.99% - 20.00%1 lakh - 20 lakhs

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