Quickly compare and Apply best Personal Loan in Chennai

10.99% – 17.99%

PF : 2.25

1-5 Year

10.99% – 20.75%

PF : 2.25

Year : 1-5

ROI : 12.99% – 20.99%

PF : 2.25% 

Year : 1 – 5

ROI : 12:99 to 20.75%

PF : 2.25

Year : 1-5

Personal Loan Eligibility

Above 23+

Below -65

Salaried or Self Employed

Earning Regular Income

Income 15000 / Month

Max Loan 20 Lakhs

Maximum 5 Years

Calculate total EMI

Steps involved in getting a personal loan

Documentation

The applicant has to submit all the required documents. A flawless documentation increases the chances of getting the loan sanctioned in one shot. Most of the delays in loan procedure is either due to the incomplete documents or any discrepancy in them.

Verification

Next, the submitted documents are verified. This is the most crucial step in any type of loan. An up-to-the-mark documentation zip through this step and get the sanction sooner.

Disbursement

The last step is disbursement where the sanctioned amount is transferred to the applicant’s account. The disbursements are quiet quick these days in almost every bank

Features of the personal loans.

Multipurpose

Banks give you a personal loan for multiple reasons. Hence, it lets the borrower practice all the liberty.

Collateral-free

A personal loan is an unsecured loan. Therefore, it serves as a dream-come-true for many. Especially to those who need but cannot apply for a loan due to lack of security.

Quick and hassle-free

The rules and regulations are quite clear cut in personal loan. That is why its procedure is faster and less cumbersome.

Economic

Although it is an unsecured loan yet the rates of interest are not sky-high. They are pretty much reasonable across all banks and NBFCs.

Eligibility criteria for a Personal loan

Credibility

One’s credibility can be measured through one’s authentic KYC documents. Your KYC tells about your identity which in turn vouches for your credibility.

Capacity

Since it is an unsecured loan, having a fixed and steady source of income is very important for the applicant. It is the most neccesary qualification to apply for a personal loan.

CIBIL

Your CIBIL score displays the minutest details of your repayment pattern of prevoius loans. Hence, a good or bad CIBIl score serves as a decision-maker in loan approval.

Importance of Comparing

It is always advisable to explore all the available options to the fullest. After that, listing all the pros and cons of the same also plays an important role. Once the evaluation is done it becomes very easy to do the comparison. Comparing lets you decide which option is best for you in terms of money, time and facility. The data such as rate of interest, processing fee, tenure, and services keep changing. Therefore, one has to stay updated with the daily change.

How to avoid personal loan rejections ?

1. Always keep your KYC documents free from discrepancies.
2. A mismatch of the date of birth, name spelling or address is not acceptable. Consequently, it will get your loan rejected.
3. Make sure you avoid any cheque or auto-debit bounces in existing loans.
4. Avoid or at least be careful before serving as a guarantor for someone. That person’s poor performance will severely affect your CIBIL score too.
5. Applied loan amount should not be unrealistic to get rejected.
6. Always keep in mind your income as well as existing liabilities before applying.

Documents required for Personal loan.

Salaried

ID proof

PAN card

Address proof

Passport, Adhaar, Driving license, Voter ID

Office proof

Office Id card

Income proof

Last 3 months’ salary slip

Income track record proof

Last 6 months’ bank statement

Self Employed Professional

ID proof

PAN card

Address proof

Passport, Adhaar, Driving license, Voter ID

Office proof

Office utility bill

Income proof

Last 3 years IT returns

Income track record proof

Last 6 months’ bank statement

How is BankHelplne Useful ?

In our busy lives, we have no reason to keep ourselves updated with banking related data. Unless there is a requirement. But, there is no wisdom in digging the well when you are thirsty. It is easy to imagine how industrious it is to move from bank to bank in search of the most suitable option.

Therefore, Bankhelpline provides you a single platform to get all the relevant information. Comparing several options can be easily done within the blink of an eye.

Benefits of choosing Bankhelpline

Those looking for a personal loan in Mumbai must submit their details to us for the following advantages

  1. Free counseling.
  2. Assistance throughout procedure i.e. from documentation till disbursement.
  3. Your data confidentiality is strictly maintained
  4. No frequent tele-calling.
  5. The most detailed information about all banks and NBFCs.

If looking for personal loan in Mumbai, stay with us for the best and the cheapest offer.

Also popular as the financial capital of India, Mumbai is vastly known for its star-studded film industry. But what a few people don’t know that this city has been significant in terms of financial development since ages. Its ports were paramount for the British government to export our resources and import finished goods. Hence, this place has seen more infrastructural development than the most of India. But it is not just the efforts of the then oppressive government in past which makes Mumbai ‘The Mumbai’. Rather, it is due to the contributions of highly intelligent businessmen and dedicated work-force which this city is blessed with. They are the reason why today, this city is the possessor of Asia’s oldest stock exchange i.e. Bombay Stock Exchange and India’s largest stock exchange which is the National stock exchange. This is the reason why this city has suffered many attacks. Hurting Mumbai is hurting the financial structure of our nation. But the spirit of the Mumbaikars possesses the capacity to rebuild from the scratches all over again.

 

It is evident from the fact that almost all the top-notch banks and NBFCs have their headquarters in Mumbai, that this land holds a value worth of tons of gold. Many call it ‘the city of dreams’ because this place has a heart wide enough to accommodate everyone’s dreams. Mumbai is full of opportunities for those who are willing to work hard and live up to its expectations. One must not stop moving towards his or her dream for any reason. Each and every bank and NBFC is eager to serve the citizens of this place. None wants to miss the opportunity to be a part of their success story.

A product like the personal loan is no big deal for the Mumbaikars to get.

Bankhelpline serves as a single digital platform which gives answers to all your queries related to all type of loans. We put freshly baked information on the plates of our customers. The financial world is very dynamic. One cannot rely upon second-hand information. That is why our team stays in touch with almost every renowned bank and NBFC to capture the latest updates for our users. To choose the best option, one has to first know about all the options. One more thing which we want our clients to understand is that we have tie-ups with all those banks and NBFCs that have the reputation for top-class services, high standard facilities, and transparency. We help you to choose the best from the best.

A personal loan is just like borrowing money from a friend or relative to meet certain unexpected expenses that occur. Especially for certain situations for which one is not prepared. Such as medical emergency, house repair or renovation. There are certain other situations as well where one plans for something but one’s savings are not enough to satisfy that. For eg, Wedding expenses and planning a vacation trip.

BANK/NBFC Interest Rate Loan Amount Processing Fees Foreclosure Charges Locking Period Tenure
IDFC Bank 11.69% – 15.00% Per Annum 1Lakh to 20Lakhs 1.5% of the loan amount Allowed after 1 EMIs, 2 – 2.5% of outstanding amount 3 Months 3 to 60 Months
HDFC Bank 10.99% – 20.00% Per Annum 50k to 40Lakhs From Rs. 1500/- Up to 2.5% of the loan amount Allowed after 12 EMIs, Prepayment charges vary by year: 2nd year – 4%; 3rd year – 3%, after 3 years – 2% 1 Year 12 to 60 Months
ICICI Bank 10.99% – 17.99% Per Annum 50k to 25Lakhs From Rs. 999/- Up to 2.0% of the loan amount and applicable Service Tax Allowed after 6 EMIs, up to 5% 6 Months 12 to 60 Months
Bajaj Finserv 12.00% – 16.00% Per Annum 1Lakh to 20Lakhs Up to 2.0% of the disbursed loan amount For Flexi Product 0% and Normal PL Upto 4% 1 Month 12 to 60 Months
Kotak Bank 11.00% – 24.00% Per Annum 1Lakh to 30Lakhs Up to 2.50% of the loan amount and applicable Service Tax Upto 4% 1 Year 12 to 48 Months
Tata Capital 11.49%-19.00% Per Annum 75k to 20Lakhs From Rs. 999/- Up to 2.0% of the loan amount and applicable Service Tax Upto 4% 6 Months 12 to 72 Months
Indusind Bank 11.49% – 20.00% Per Annum 1Lakh to 20Lakhs Up to 2% of the loan amount Upto 4% 1 Year 12 to 60 Months
Capital First 12.00% – 35.00% Per Annum 1Lakh to 15Lakhs Up to 2.0% of the loan amount and applicable Service Tax 5% of principal outstanding 1 Year 12 to 60 Months
Fullerton 17.25% – 35.00% Per Annum 65k to 20Lakhs Up to 3.5% of the loan amount Upto 4% 6 Months 12 to 60 Months
IIFL 12.00% – 20.00% Per Annum 1Lakh to 20Lakhs Up to 2% Upto 5% 9 Months 12 to 60 Months
RBL Bank 14.00% – 20.00% Per Annum 1Lakh to 20Lakhs Up to 2.0% of the loan amount and applicable Service Tax Upto 2.0 to 4.0% 1 Year 12 to 60 Months
Yes Bank 10.75% Per Annum 1Lakh to 25Lakhs Up to 2.50% of the loan amount subject to a minimum of Rs. 999/- plus taxes Foreclosure of Loan is allowed post repayment of 12 EMI’s 12 to 60 Months

*The figures provided in the table are indicative subject to change from time.

20k
Customers Served

36
Months Of Operation

50+
Banks & NBFCs

How to apply Personal loan in mumbai ?