Major Personal Loan Providers in Ludhiana
Feature
HDFC Bank
Private Bank
Bajaj Finance
Interest Rate
10.75% - 17%
11.25% - 18.5%
0.12
Min Loan Amt
Metro : 75000 & Non Metro: 50000
50000
100000
Max Loan Amt
50 Lacs
50 Lacs
1 Cr
Loan Tenure
1 - 5 Years
1 - 5 Years
1 - 5 Years
Processing Fee
0.25% - 2% of the Loan Amt
1% - 2.5% of the Loan Amt
Preclosure Charges
2%, Nil foreclosure charges after 12 months
2%, Nil foreclosure charges after 24 months
Nil
Overdraft Facility
No
No
Yes
Personal Loan Ludhiana Features
A Personal Loan can help you meet your diverse financial needs – be it easy finance for a holiday, quick funds to take care of last-minute wedding expenses, medical emergencies, or just cash to buy a gadget. Personal Loan Ludhiana provides minimum documentation and a hassle-free process. The Rate of Interest is also very competitive, which proves to be an advantage for the customer. Moreover, banks and NBFCs are present to give financial assistance to the customers without any collateral if the customer is eligible for a Personal Loan.
There are a lot of advantages and benefits associated with Personal Loan Ludhiana.
- The loan amount ranges from Rs. 75,000 to Rs. 1 cr.
- Once the application is approved, the amount is credited to the account within three seconds.
- The flexibility to choose the loan tenure. Applicants can apply for a loan for 12 to 60 months.
- Online services allow the customer to keep track of the application status and get any assistance 24×7.
- Minimum documents needed.
- The interest rate is very competitive and remains fixed throughout the loan tenure.
- Applicants need not provide any collateral or security.
Personal Loan Ludhiana Interest Rates
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Bank
Processing Fee
HDFC Bank Personal Loan
0.25% to 1.50%
Axis Bank Personal Loan
0.50% to 1.50%
Nil
Private Bank Personal Loan
0.25% to 1.50%
SBI Personal Loan
500/- to 0.50%
Nil
Kotak Personal Loan
1% to 2%
IIFL Personal Loan
Nil
Nil
Muthoot Personal Loan
Nil
Nil
Manappauram Personal Loan
Nil
Nil
PNB Personal Loan
0.70% to 1%
Nil
Canara Bank Personal Loan
0.01
Nil
Andhra Bank Personal Loan
Nil
Nil
Documents for Personal Loan Ludhiana
Personal Documents:
- Age Proof
- Identity Proof
- Photo and signature.
- Aadhar Card, Pan Card, Driving License, and Passport.
- Personal loan form filled and signed by the applicant.
Salaried Customers:
- Ration Card, Electricity Bill, and Telephone Bill.
- Sale /Property purchase agreement (for owned properties).
- 3 Months Bank Statement of the applicant to show income stability.
- Latest 3 months salary slips of the applicant.
*NOTE: In the case of rented apartments, a rent agreement needs to be attached.
Self-Employed Customers:
- Ration Card, Electricity Bill, and Telephone Bill.
- Office Address proof of the owner of the business.
- Residence proof or evidence of office ownership.
- Audited financials of the company for the last two years.
- Latest 6 Months Bank Statement of the applicant to show the stability of the company.
- Proof of continuity of the business.
PERSONAL LOAN
Interest Rate 9.99%
Eligibility Criteria for Personal Loan Ludhiana
Personal Loan Eligibility criteria for both Salaried and Self-Employed are different:
Salaried Applicants
- Applicants must have Indian Nationality.
- Applicants should be within 23 to 58 years of age.
- The minimum monthly income of the applicant must be Rs.17,500.
- Minimum of 2 years of experience in job/profession.
- Minimum of 1 year stay in current residence.
- The applicant’s credit score should be 750 or above.
To know more about: Personal Loan for Salaried Applicant
Self-Employed Applicants
- Applicants must have Indian Nationality.
- Applicants should be 28 years (self-employed individuals) and 25 years (for doctors), and the maximum age-eligible is 65 years.
- Minimum Turnover is Rs. 40 lakh for non-professionals and Rs. 15 lac for professionals as per audited financials.
- Minimum profit after taxes Rs. 2 lac for private Firms or self-employed individuals, Rs. 1 lac for non-professionals as per audited financials.
- Individuals should be operating in the current business for at least 5 years.
- The applicant’s credit score should be 750 or above.
To know more about: Personal Loan for Self-employed Applicant
Why Apply for Personal Loan Ludhiana?
- There is no need to deposit any mortgage and collateral security to the bank.
- A personal loan can be availed for various purposes, and it solves the immediate need for money.
- Personal Loan gives freedom to the individual to become self-reliant and to solve any financial problem.
How to apply for Personal Loan Ludhiana?
Applicants don’t need to visit the bank’s branch to apply for an Instant Personal Loan Ludhiana, as they can apply for it online at DialaBank.com. The process is straightforward & handy. This involves only a few steps:
- Click here and fill the form.
- Relationship Manager Will Call applicant in Next 2 Working Hours.
- Compare personal loan offers from several banks and NBFCs on the DialaBank website.
- Check the eligibility and View the best offers available.
- Select the desired bank or keep in contact with the Relationship Manager of DialaBank for more assistance.
- After selecting the bank, fill out a form to process the loan application.
- Upload all the documents or schedule document pickup from home or office.
- After your documents are verified, the bank’s executive will give the applicant a verification call.
- If the loan gets approved, the amount will get disbursed to the applicant’s account within 3-5 working days.
PERSONAL LOAN
Interest Rate 9.99%
Processing Fee / Prepayment Charges on Personal Loan Ludhiana
Every Bank and NBFC charges a fee for processing your Loan application. These charges are 1% of the sanctioned loan amount.
- Rate of Interest: 9.99% per annum.
- Loan Processing Charges: 1% of the loan amount
- Prepayment Charges: 5% on principal outstanding + GST.
- Additional Charges on Late Payment: 24% per annum.
- Loan Cancellation Charges: ₹ 3000/- + GST.
- EMI Bounce: ₹ 400 per bounce +GST.
Personal Loan Ludhiana EMI Calculator
Equated Monthly Installments, also known as EMI, are the monthly fixed charges you pay to the bank as monthly repayment for the loan amount borrowed. Based on your profile, the personal loan interest rate on your loan is determined. Your EMI is calculated basis the Interest Rate the bank charges you, the amount of loan you have to take, and the period you enjoy the loan.
To calculate your EMI: Personal Loan EMI Calculator
CIBIL Score required for Personal Loan Ludhiana
Every lending institution has its criteria for the minimum CIBIL score required for processing a Personal Loan application in Ludhiana. However, most institutions need a minimum score of 750 to process your loan application.
The institutions don’t just look at the overall score but also the complex behavior of the previous loans. This includes details on the type of loan taken and the amount borrowed. Any delayed payments of earlier loans can act as a barrier to your availing a new loan.
PERSONAL LOAN
Interest Rate 9.99%
Personal Loan Ludhiana Agents
Dialabank is the leading agent for availing Personal Loan in Ludhiana. You can apply online at www.dialabank.com or give a call at 9878981166
Personal Loan Ludhiana Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan in Ludhiana.
Pre Calculated EMI Table for Personal Loan Ludhiana
About Ludhiana
Ludhiana is a city in the Indian state of Punjab. Ludhiana is a significant contributor to the Indian Economy as it is a prominent agriculture hub. People use their gold to avail loans and invest in agriculture. Ludhiana has a mix of all the cultures, and every festival is celebrated with full enjoyment and fun. People take a personal loan to invest in their crops and return after a good agriculture season.
FAQs About Personal Loan Ludhiana
✅ Who can apply for a Personal Loan in Ludhiana?
People who have an urgent need for cash and have a regular source of income (from employment or business) can apply for a Personal Loan in Ludhiana.
✅ What is the tenure of a Personal Loan in Ludhiana?
Most banks and NBFCs provide a Personal Loan for a min period of 1 Yr and a Max period of 5 Years. Some Banks extend the maximum period to 7 Years also. The tenure is fixed and cannot be extended. The repayment has to be done in equal monthly installments within the agreed term of the loan.
✅ Are there any other charges involved in Personal Loan Ludhiana?
Yes, there are 2 types of charges that one needs to pay to avail a personal loan in Ludhiana:
Processing Fee: For every bank or lending institution that you borrow from, there is a small fee that they charge from the customer. This is known as Processing Fee. The processing fee varies for each lending institution and usually is 1% of the loan amount.
Pre-closure Charges: Whenever you want to close a running loan before its agreed tenure period, the Banks and NBFCs charge an extra amount known as pre-closure charges on the borrowed loan amount. Different banks have different pre-closure accounts. The pre-closure costs vary depending on how many years your loan has completed before you decide to pre-close it.
✅ Can my application for Personal Loan Ludhiana get rejected due to my CIBIL score?
Since a Personal Loan is an unsecured loan, one of the most important decision criteria for getting your Loan application approved is your CIBIL Score. Having a High CIBIL score becomes extremely important if you wish to avail of a Personal Loan in the future. Make sure you don’t skip any of your loan EMI payments or any credit card payments, as that will decrease your CIBIL score. Most of the Personal Loan rejections happen due to a low CIBIL Score.
Other Cities For Personal Loan
| Personal Loan Ludhiana | Personal Loan Kharar |
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| Personal Loan Kohara | Personal Loan Kapurthala |
