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Personal Loan Starting @ 10.25% Onwards

Do you need loan for personal purposes? Don't rush while financeseva is here to help you in getting personal loan at lowest interest rates with flexible tenure.
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Personal Loan: Instan Apply Personal Loans Online @ 10.25%
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month) Forclosure Charge
Tata Capital Financial Services Limited
12.00% - 15.00%
2%
25
60
4%
Axis Bank Ltd.
10.50% - 22.00%
2%
40
60
4%
Kotak Mahindra Bank
10.25% - 14.00%
2%
40
60
4%
YES Bank Ltd.
10.50% - 14.00%
2%
40
60
4%
ICICI Bank Ltd.
10.75% - 18.00%
2%
40
60
4%
Axis Finance Limited
14.00% - 18.00%
2%
20
60
4%
Standard Chartered Bank
12.00% - 14.00%
2%
50
60
4%
HDB Financial Services Limited
12.50% - 20.00%
2%
10
60
4%
Hero FinCorp Limited
20.00% - 25.00%
4%
5
60
4%
Aditya Birla Finance Limited
14.50% - 22.00%
2%
20
60
4%
Fullerton India Private Limited
12.50% - 22.00%
2%
20
60
4%
IDFC First Bank
10.50% - 25.00%
2%
40
60
4%
HDFC Bank Ltd
10.50% - 13.00%
2%
40
60
4%
InCred Financial Services Limited
20.00% - 25.00%
4%
40
60
4%
Bank Name Min Interest Rate
Tata Capital Financial Services Limited

12.00% - 15.00%

Axis Bank Ltd.

10.50% - 22.00%

Kotak Mahindra Bank

10.25% - 14.00%

YES Bank Ltd.

10.50% - 14.00%

ICICI Bank Ltd.

10.75% - 18.00%

Axis Finance Limited

14.00% - 18.00%

Standard Chartered Bank

12.00% - 14.00%

HDB Financial Services Limited

12.50% - 20.00%

Hero FinCorp Limited

20.00% - 25.00%

Aditya Birla Finance Limited

14.50% - 22.00%

Fullerton India Private Limited

12.50% - 22.00%

IDFC First Bank

10.50% - 25.00%

HDFC Bank Ltd

10.50% - 13.00%

InCred Financial Services Limited

20.00% - 25.00%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Personal Loan Eligibility Criteria?

Personal Loan is a kind of unsecured loan which can be opted to various reason, you can avail up to 25 lakh with minimal documentation. You just need to ensure that you meet eligibility requirements.

Personal Loan Eligibility Criteria

Generally, Personal Loan Eligibility Criteria depends on various factors like age of individual, monthly salary or business income, total work experience & CIBIL Score ..etc..

Personal Loan Eligibility Criteria for Salaried Individuals

  • • Age Limit of Salaried Individuals - 20 to 60 years of age
  • • Work experience of salaried Applicants – Minimum 1- 3 Years
  • • CIBIL Score should be above 750
  • • Minimum Salary – 25000/-
  • • Nationality - Resident of Indian

Personal Loan Eligibility Criteria for Self-Employed Individuals

  • • Age Limit of Self –Employed Individuals - 21 to 68
  • • CIBIL Score should be above - 750
  • • Minimum Years of doing Business –2- 5 Years
  • • Nationality - Resident of Indian

Note: - Maximum Loan Amount of Salaried Individual & Self- Employed Individual can avail up to 40 lakh.

What are the factors generally affecting Personal Loan Eligibility Criteria?

There are few factors that generally affects Personal Loan Eligibility Criteria as given below: -

Income: - Firstly, Lenders check your Income to determine whether you are eligible to get personal loan or not, if you are getting higher income & you will get higher loan amount too.

Applicant Age: - Thirdly, Lenders see’s your age to calculate the tenure period. Generally, a longer tenure period will save your money on EMI, this results in non- default in repayment.

Monthly Income: - Secondly, Lenders want to know you Monthly Income, if you are a Salaried Individual your minimum income per must be 25000/- or if you are a Self-Employed your business minimum annual turnover must be 15 lakhs.

What are the ways to increase Home Loan eligibility?

To increase Home Loan eligibility, you need to consider few points as given below, this will aid you in increasing your eligibility level.

Improve CIBIL Score: - To improve CIBIL Score you don’t need to practice any mathematical theory you just need to be aware of timely paying payments, it might be Card dues, EMI, transaction which are taking place doesn’t to be delay in payment, try to avoid applying for multiple credit cards. Follow this points to increase home loan eligibility, remember CIBIL score above 750 will be offered home loan at lowest interest rates.

Own house & Rented house: - Secondly, Lenders check whether you are living in your own house or rented house, if you a living in a rented houses that means major part of your income will automatically spend over the house rent therefore, it will lower your chances of getting eligible for personal loan.

Company you work with: - Thirdly, Lenders wants to check for which company you are working with to know the possibility of job secure & risk level, generally popular company have the potential to give income on regular basis without any restriction. Therefore, it's become one type of secure & stable job.

Credit History: - Lastly, Lenders look up your whole credit history, it considered to be the main factor in determining your personal loan eligibility criteria, if they find delay payment, due bills, multiple credit card these all will make your chances of getting loan lower.

What are the ways to increase Personal Loan eligibility?

To increase Personal Loan eligibility, you need to consider few points as given below, this will aid you in increasing your eligibility level.

Try to keep Good CIBIL Score: - As you know CIBIL Score matters a lot while checking your eligibility criteria, a good CIBIL Score will 100% help you increasing chances of eligibility on loan which should be above 750 while bad CIBIL Score will not help you in getting a loan. Do proper transaction maintain, avoid late payment, never have multiple credit card by this following you will increase personal loan eligibility criteria approval.

Add Extra possible Income: - Lenders checks your income to examine how strong is your repayment capacity is, so, if you add extra possible income. It would signify as higher repayment capacity. Therefore, your chances of eligibility criteria will be increased.

Open account with preferred lender earlier: - If you are planning to avail loan, make a comparison among various banks & NBFC’s check which bank eligibility criteria meet with your needs & once chosen, start building a relationship with lender by opening account with that bank as early as possible this will increase your eligibility.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

What is Personal Loan?

This type of loan comes under unsecured category where you don't required to pledge any collateral or assets for borrowing loan from Banks & NBFC's. Eligibility of an applicant totally depends on his/her credit score, stable income, employment organization & such other factors.

What is the purpose of personal loan?

You can borrow loan for your dream wedding, higher studies, Adventures vacation, aboard travelling, uncertain medical & hospital expenses & much more similar purposes.

What is the minimum loan amount ?

For personal loan minimum loan amount starts on 30,000 onwards & offered by various banks & NBFC's.

How is the maximum loan amount decided?

If you are an salaried applicant then your maximum loan amount is calculated on the basis of the take home salary & if you have any existing loan then that debt to income ration also be calculated as generally EMI  will not exceed above 30% - 40% of your actual salary.Similarly, if you are self-employed your maximum loan amount is calculated on profit earned by your business.

What is the tenure range for personal loan?

Personal loans tenure ranges from12 to 60 months.

Can I apply for a personal loan jointly with my spouse?

Yes, but not every banks & nbfc's provide this facility as loan can be applied either by yourself or together with a co-applicant. The co-applicant needs to be a family member like your spouse or parents.  By getting a co-borrower, your loan application will be processed in a higher income bracket, enabling you to avail a larger loan amount. 

What are the key documents required when applying for a personal loan?

Bank to Bank slight documentation get varied, below are the common documents generally required by banks:-

  • Income proof (Salary Slip for salaried/recent acknowledged ITR for self-employed)
  • Address Proof Documents
  • Identity Proof Documents and others
  • Certified copies of degree/license (in case of self-employed professional

How to decide which bank/financial institution to take the loan from?

Before deciding from which lender to opt for loan, check your personal loan emi calculator, according to your requirement choose the lender who offers the features & benefits that you wanted for.

How do I compare the interest rates of personal loans?

Generally, when its comes to compare interest rates. Compare through online as all the required details are available,save your time & energy. 

Why to choose financeseva for personal loan?

Financeseva offers you a wide range of benefits as given below

  • Get comparison among top Banks & NBFC's
  • Clear chart of Rate of Interest , tenure, loan amount with respective banks
  • Get Free advisory from CA & EX Banker Venture
  • Making your loan process hassle free - handle documentation to disbursement
  • Doorstep Services 
  • Get Loan with Best Deal

What are the benefits of a Personal Loan?

  • Quick loan payment

  • No collateral or security needed

  • Minimal documentation

  • Flexible EMI plans and many repayment options

How to apply for a Personal Loan?

Getting a Personal Loan is made easy. Just complete a simple form and upload the necessary documents. Your loan will be approved as on the basis of your given document's

Online

We are with you any time of the day.

Phone

Our customer support team is happy to help you, always. Contact us at 9863-02-02-02.

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