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Personal Loan Interest Rate


Compare Personal Loan Interest Rates and other associated costs. Quickly analyze all government and private banks individual Personal Loan Interest Rates in India at BankCircle which helps you to pick the most reduced rates on the web.

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ALLAHABAD BANK Personal Loan Interest Rate and Charges

Minimum Rate of Interest11.60%
Maximum Rate of Interest13.60%
★★★★★
ANDHRA BANK Personal Loan Interest Rate and Charges

Minimum Rate of Interest13.85%
Maximum Rate of Interest15.10%
★★★★★
BANDHAN BANK LIMITED Personal Loan Interest Rate and Charges

Minimum Rate of Interest3.50%
Maximum Rate of Interest8.00%
★★★★★
BANK OF BARODA Personal Loan Interest Rate and Charges

Minimum Rate of Interest11.35%
Maximum Rate of Interest14.35%

Minimum Rate of Interest13.00%
Maximum Rate of Interest14.00%
BANK OF MAHARASHTRA Personal Loan Interest Rate and Charges

Minimum Rate of Interest12.75%
Maximum Rate of Interest12.75%
CANARA BANK Personal Loan Interest Rate and Charges

Minimum Rate of Interest4.20%
Maximum Rate of Interest7.40%
CENTRAL BANK OF INDIA Personal Loan Interest Rate and Charges

Minimum Rate of Interest11.40%
Maximum Rate of Interest11.40%
CITY UNION BANK LIMITED Personal Loan Interest Rate and Charges

Minimum Rate of Interest16.00%
Maximum Rate of Interest16.50%

Minimum Rate of Interest6.65%
Maximum Rate of Interest7.25%

Illustration

Rate of Interest Illustration


  • Maximum Annual Percentage Rate (APR) or Rate of Interest (ROI) : 15.5%
  • Total amount borrowed: Rs. 100,000
  • Time period: 36 months ( 3 Years )
  • Processing Fee payable to Bank: 1.5% = Rs. 1,500
  • Fee payable to BankCircle: NIL
  • Total Monthly EMI: Rs. 3,491
  • Total Interest Payable: Rs. 25,678
  • Total Amount Paid inclusive of Principal: Rs. 1, 25, 678

Criteria

Eligibility Criteria | Salaried Individuals

  • Minimum age of Applicant: 23 years
  • Maximum age of Applicant at loan maturity: 60 years
  • Minimum employment: Minimum 1 year
  • Minimum Net Monthly Income: Rs. 25,000 per month

Eligibility Criteria | Self Employed Individuals

  • Minimum age of Applicant: 25 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Years in business: 4 to 7 years depending on profession
  • Minimum Annual Income: Rs. 5, 00, 000 p.a.

Eligibility Criteria | Doctors

  • Minimum age of Applicant: 25 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Years in business: Minimum 5 years depending on profession
  • Minimum Annual Income: Rs. 3, 00, 000 p.a.

Documents

Personal Loan List of Common Documents

  • Complete Application Form.
  • Latest Passport Size Photograph.
  • Identity Proof and Signature proof (Any One) : Bank Signature Verification, Photo Pan Card, Passport, Voter ID card, employee identity card as identity proof and signature proof incase of government employees.
  • Address Proof (Any One) : Passport, Ration Card, Voter ID Card, Bank statement, Rent Agreement, Aadhar Card (UID), Telephone Bill, Electricity or Water Bill as proof of residence.
  • Date of Birth Proof (Any One) : Pan Card, Passport, Driving License or LIC policy. Date of Birth certificate.

Personal Loan List of Financial Documents | Salaried Individuals

  • Minimum 3 months Salary Slips starting with the Latest Salary Slip duly authenticated by the Employer ( the above to clearly indicate the break up of Gross Earnings, Deductions and Net Salary ).
  • Form No.16 with clear computation of income.
  • Latest 6 months Salary Account Bank statement.

Personal Loan List of Financial Documents | Self Employed

  • Income Tax Returns ( ITR ) for last 3 years.
  • Computation of Income (COI), Profit & Loss and Balance Sheet for the last 3 years.
  • Latest 6 months Bank Statement.
  • Office Address Proof: Latest Telephone bill, Electricity Bill, Water Bill, lease deed, municipal tax receipt, title deed.
  • Latest VAT/ Service Tax returns, if applicable.
  • Partnership Deed in case of Partnership Firms, MOA in case of Private Limited/ Limited Companies.

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Disclaimer

We have attempted our best to keep the most recent data refreshed as accessible from RBI, clients are asked for to affirm data with the respective bank before utilizing any provided information. The creator holds the privilege not to be responsible of the topicality, rightness, culmination, quality or nature of the data gave. Risk claims with respect to harm brought about by the utilization of any data gave, including any sort of data which is deficient or erroneous, will in this way be rejected.

BankCircle | Your Own Financial Circle team