Personal Loan Starting from 11.49%

Interest Rate: 11.25% p.a. - 12.75% p.a., Tenure: 1 - 5 years, P. Fee: Rs. 999 or 1% + (Service Tax) of loan amount.
E.g. Loan amount = Rs. 1 lakh, Tenure = 3 years, APR = 11.25% equates to Monthly EMI = Rs. 3,286/-, Cost of Total Repayment = Rs. 1,19,438/-

My Loan Requirement is
Rs.
Currently Employed as
My Net Monthly Salary is
Rs.
My Net Turnover is
Rs.
My Name
My Email Address
Mobile Number
+91

Personal Loans Overview

Online Personal Loans Interest Rates

Banks & NBFC’s offer Personal Loans interest rates between 11.49%* to 21%.
The exact interest rate is based on the banks assessment of your profile, salary amount & in which category your Company is.
The maximum tenor is determined on the basis of the net salary and company category. For Personal Loan Minimum salary requirement is Rs. 18,000 p.m.

Compare Personal Loan Interest Rates of Different Banks*

Name of the Provider

Interest Rate

Processing Fee

Tenure

State Bank of India 12.55%-17.65% 1%-3% of the loan amount + applicable Service Tax 12 to 60 Months
Axis Bank Limited 15.50%-24% 1.50%-2.00% of the loan amount + Service Tax, as applicable 12 to 60 Months
ICICI Bank 11.49%-22.00% Upto 2.50% of the loan amount + Service Tax, as applicable 12 to 60 Months
Tata Capital 12.50% to 19% Starts at 999/- 12 to 72 Months
Punjab National Bank 3.10%-6.10% + MCLR
  • Upfront fees: 1.80%+ST+Edu Cess
  • Documentation charges
  • Upto Rs. 2 lac: Rs.270+ ST & Edu.Cess
  • Over Rs.2 lac: Rs.450+ST & Edu.Cess
  • For Defence Personnel only upfront fee / no documentation charges.
12 to 60 Months
Bajaj Finserv 16% 2.25%-3% of the loan amount 12 to 60 Months
Fullerton India 17.25%-35% Upto 6.5% of the loan amount 12 to 48 Months
IndusInd Bank Upto 23% per annum Upto 2.5% of the loan amount 12 to 60 Months
Standard Charted Bank Upto 27% Upto 2.25% of the loan amount 12 to 60 Months
Citibank Values based on customer profile; starting at 11.75% Upto 2.50% of the loan amount 12 to 60 Months
HDFC Bank 11.49%-20% Upto 2.5% of the loan amount,
subject to a maximum of 25,000 INR and a minimum of 1,000 INR
12 to 60 Months
Kotak Bank 11.50-24% Upto 2% + ST + Other levies 12 to 48 Months
HSBC Bank 12.25%-17.50% p.a. Upto 2.5% of the disbursed loan. 12 to 60 Months

Example

If you take a Personal Loan of

Amount Rs.1,00,000/-
Tenor 3 years (36 months)
Rate of Interest (Yearly) 15% (reducing rate of Interest)
Processing Fee 2% (on the loan amount) + Service tax (15% on the service tax)

Then the calculations are

EMI Rs. 3,467/-
Total Repayment Rs. 3,467 x 36 = Rs.1,24,795/-
Total Interest on the Loan for 36 months Rs. 24,795/-
Processing Fee (PF) – 2% Rs.2,000/-
Service Tax on PF is 14% Rs.280/-
0.15% Krishi Kalyan Cess + 0.15% Swachha Bharat Cess – Total 0.30% Rs.6/-
Total PF –  2.286% Rs. 2,286/-

Total amount/cost to be repaid in 36 months.

Principal Rs. 1,00,000
Total Interest on the Loan for 36 months Rs. 24,795/-
Processing Fee Rs. 2,300/-
Total Repayment Rs. 1,27,095/-
Cost of the loan Rs. 27,095/-
Foreclosure / Repayment
Most banks have a lockin period of 6 months to 12 months before your can repay the loan. That means one can only repay the loan only after 6/12 months after availing the loan.

List of documents for Salaried

  • Passport Size photographs.
  • Proof of Identity:- PAN Card
  • Proof of Identity:- Aadhar Card / Passport / Driving License / Voters ID (Any one mandatory)
  • Proof of Residence Ownership:- Electricity Bill (not more than 45 days old).
  • Latest 3 months Bank Statement (where salary/income is credited).
  • Salary slips for last 3 months.

List of documents for Self-Employed

  • Passport Size photographs.
  • Proof of Identity:- PAN Card
  • Proof of Identity:- Aadhar Card / Passport / Driving License / Voters ID (Any one mandatory)
  • Proof of Residence Ownership:- Electricity Bill (not more than 45 days old).
  • Office address proof.
  • Income proof (audited financials for the last three years).
  • Latest 6 months Bank statement of current/saving/OD/CC account.

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"LoansMumbai provides you with excellent customer care service"
LoansMumbai has provided me with excellent services,
when it came to solving my every single query.
Due to their 24*7 support the Sanction and Disbursement
process was organised & effortless. Thank You to
Team LoansMumbai.com
Harveer Singh

How our clients say about LoansMumbai

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