Personal Loan @ 9.99%*

⋆ Interest Rate 9.99% ⋆

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Why us?

Rates as low as 9.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

Features of Leading Personal Loan Banks

Feature
HDFC Bank
ICICI Bank
Bajaj Finance
Interest Rate
10.75% - 17%
11.25% - 18.5%
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

0.5% - 2% 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

Benefits of Personal Loans

  • You can take the loan for Rs.40 lakh or more.
  • Choose a loan tenure of up to 5 years and repay your loan in easy EMIs.Avail Unsecured Personal Loans
  • You can apply through Offline or Online modes.
  • Less paperwork and low documentation are required.
  • No restrictions on how the loan amount should be used.
  • Affordable interest rates ranging between 10% – 24% p.a.
  • Helps in quick consolidation of debts.
  • Fast Approval.
  • Pre-approved loan offers are also available.

Apply for a personal loan online through DialaBank and get the best offer available from top banks based on your needs. Avail personal loan on DialaBank for weddings, travel, home renovation, or an emergency financial requirement.

If you are looking for a loan, compare various banks that provide credit at a low rate of interests, secure EMI and low processing charges. Here are some of the leading banks :

HDFC Bank Personal Loan

Key Highlights:

  • Attractive Rates of Interest for self-employed applicants.
  • Loan Disbursal is done in 10 seconds for pre-approved HDFC Bank Applicants
  • Flexible Repayment tenures extending up to 5 years.
Interest Rate EMI Foreclosure/Prepayment Charges Repayment

10.75% onwards

Rs.2,162

13 to 24 months: 4% of the outstanding principal amount

25 to 36 months: 3% of the outstanding principal amount

More than 36 months: 2% of the outstanding principal amount

Rs.1,29,708

Apply for HDFC Bank Personal Loan

Fullerton India Personal Loan

Key Highlights:

  • Easy and Quick approvals
  • Flexible tenures from 12 months up to 5 years.
  • Hassle-free with minimal documentation, and existing Fullerton India customers are eligible for additional benefits.
Interest Rate EMI Foreclosure/Prepayment Charges Repayment

11.99%

Rs. 2,224

3% to 7% of the outstanding amount of principal depending on the time of application of foreclosure

Rs. 1,33,436

Apply for Fullerton India Personal Loan

ICICI Bank Personal Loan

Key Highlights:

  • Collateral-free personal loans
  • Get Funds in just 3 seconds*
  • Minimal documentation plus hassle-free application process

* Applicable only for pre-approved customers upon completion of online verification and acceptance of the final offer by the bank*

Interest Rate EMI Foreclosure/Prepayment Charges Repayment

10.99% onwards

Rs.2,174

5% of the total principal outstanding amount + GST

Rs.1,30,425

Apply for ICICI Bank Personal Loan

SBI Personal Loan

Key Highlights:

  • Collateral-free personal loans
  • Low rates of interest
  • Minimal documentation and hassle-free processing
Interest Rate EMI Foreclosure/Prepayment Charges Repayment

9.60% onwards

Rs.2,105

3% of the total principal outstanding amount + GST

Rs. 1,26,300

Apply for SBI Personal Loan

Kotak Mahindra Bank Personal Loan

Key Highlights:

  • Minimal paperwork
  • Competitive interest rates and convenient repayment options
  • Hassle-free and quick loan disbursal
Interest Rate EMI Foreclosure/Prepayment Charges Repayment

10.50% onwards

Rs.2,149

5% of the outstanding amount of principal as per reducing balance method on the repayment date

Rs.1,28,963

 

Apply for Kotak Mahindra Bank Personal Loan

Tata Capital Personal Loan

Key Highlights:

  • Easy and Quick finance at flexible rates of interest
  • The loan can be used to finance anything like emergency medical requirements, weddings, etc.
  • Flexible EMI options that cater to your requirements, your budget, and your timeline.
Interest Rate EMI Foreclosure/Prepayment Charges Repayment
11.25% Rs.2,187 4% of the outstanding principal amount plus GST Rs.1,31,204

Apply for TATA Capital Personal Loan

Citibank Personal Loan

Key Highlights:

  • Low Rate of Interests for both Salaried and Self-employed applicants
  • Funds are usually credited in your bank account within 48 hours
  • Little documentation and Instant approval for existing Citibank customers
Interest Rate EMI Foreclosure/Prepayment Charges Repayment
10.50% onwards
Rs.2,149 Up to 4% of the total outstanding principal amount plus the amount of interest for the month in which foreclosure is done Rs.1,28,963

Apply for CitiBank Personal Loan

Standard Chartered Bank Personal Loan

Key Highlights:

  • Attractive Rate of Interests
  • Quick approval when you apply online
  • Flexible repayment tenures extending up to 5 years
Interest Rate EMI Foreclosure/Prepayment Charges Repayment
12% onwards Rs.2,224 5% of principal outstanding as per reducing balance method on the date of repayment Rs.1,33,467

Apply for Standard Chartered Personal Loan

Capital First Personal Loan

Key Highlights:

It is an ideal option If you are looking to top up your loan with additional funds.

  • Repayment tenure of the loan is convenient, ranging from 1 to 5 years.
  • The approval of the loan takes about two minutes only, thereby helping you save time and getting access to funds immediately.
Interest Rate EMI Foreclosure/Prepayment Charges Repayment
12% onwards Rs.2,224 5% of the principal outstanding amount Rs.1,33,467

Apply for Capital First Personal Loan

IIFL Personal Loan

Key Highlights:

  • The eligibility can be checked in one minute, and the online approval takes not more than five minutes after the submission of your documents along with the form.
  • The loan amount is disbursed and transferred into your bank account within just eight hours.
  • The documentation process is also relatively simple, and the paperwork involved is minimal, thus helping you save on time and effort.
Interest Rate EMI Foreclosure/Prepayment Charges Repayment
13.49% Rs.2,300 Up to 6% of the outstanding principal amount Rs.1,38,028

Apply for IIFL Personal Loan

HDBFS Personal Loan 

Key Highlights:

  • Special offers for employees of individual companies.
  • The processing of the personal loan is speedy, and no guarantor or security is required to avail the loan.
  • The tenures are also flexible ranging from 1 to 5 years.

*The calculation of EMI’s and the total amount payable is done assuming the loan amount to be repaid is Rs.1 Lakh and is taken for the tenure of 60 months. Personal loan rates of interest vary depending on the income of the applicant and the amount borrowed.

Interest Rate EMI Foreclosure/Prepayment Charges Repayment
14.99% Rs.2,378 2% to 4% of the outstanding amount of principal based on the date of application of foreclosure Rs.1,42,708

Apply for HDBFS Personal Loan

Personal Loan Eligibility

Criteria Salaried
Self-Employed
Age 21 to 60 years 22 to 55 years
Net Monthly Income
Rs.15,000 Rs.25,000
CIBIL Score More than 750 More than 750
Minimum Loan Amount
Rs.50,000 Rs.50,000
Maximum Loan Amount
Rs.40 Lakh Rs.50 lakh

Documents Required for Personal Loan

Requirements Salaried Individuals
Self Employed
Proof of Identity Passport, Voter’s ID, Driving License or PAN Card
Passport, Voter’s ID, Driving License or PAN Card
Proof of Residence Utility bills or Passport
Utility bills or Passport
Proof of Income Bank statement of salary account for the previous six months
Audited financial statement of the previous two years

If you’re an NRI looking to take a personal loan, these are the documents that you will need to submit to the lender:

  • Your Recent passport-size photographs and of the guarantors
  • Copy of your Passport
  • Visa Copy
  • Bank Statements
  • Your work Email ID or the Email ID of the HR of the company.
  • Salary Certificate or salary slips
  • Proof of Identity, Residence, Income, and Assets
  • NRO/NRE bank statements of the previous 6 Months

*RBI has announced an extension of Moratorium for EMIs*

Other Fees & Charges for Personal Loan

  • Processing fee
  • Goods and Services Tax or GST
  • Verification charges
  • Charges levied for issuing a duplicate statement
  • Penalty for defaults
  • Penalty for pre-payment and part payment of a loan

Moreover, the lender may also charge for documentation, credit, stamping, collection, administration, etc.

Bank
Processing Fee
Prepayment Charges
HDFC Bank Personal Loan
0.25% to 1.50%
2%, Nil foreclosure charges after 3 months
Axis Bank Personal Loan
0.50% to 1.50%
Nil
ICICI Bank Personal Loan
0.25% to 1.50%
2%, Nil foreclosure charges after 9 months
SBI Personal Loan
500/- to 0.50%
Nil
Kotak Personal Loan
1% to 2%
2.25% of fore closure amount if closed 1 month ahead of the tenure.
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
1%
Nil
Andhra Bank Personal Loan
Nil
Nil

To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates

How to Submit a Successful Personal Loan Application

  • Assess the need for your loan
  • Do proper research to get the best offer
  • Check your credit score
  • Check the fine print on your loan document
  • Based on the repayment ability, select your tenure
  • Choose an affordable rate of interest
  • Select your loan amount as per your needs
  • Review your EMIs properly
  • Review the processing fee
  • Choose between fixed or variable interest rate based on your preferences.
Do’s Don’ts
Do proper research before you apply for a loan
Don’t sign your loan documents without understanding every point
Do read the fine print carefully
Don’t make multiple inquiries regarding loans from different banks
Do save your money carefully when you are repaying
Don’t take a personal loan without any serious purpose
Do pay your loan instalment promptly every single time
Don’t be in a hurry to end your loan comparison process
Do evaluate your credit score thoroughly
Don’t forget to pay your loan instalments
Do apply for an affordable loan amount
Don’t accept bad loan products
personal loan at 10.75%*

Different Types of Personal Loans in India

You can use Personal loan for any need as long as it is legal. However, some specific lenders provide different loan products based on the use, which is mentioned by the borrower in the loan application. Based on your need, there are several personal loans which can be taken in India:

  • Personal Loan (Wedding): A loan which is offered mainly to meet the expenses of a wedding is a wedding Personal Loan.
  • Personal Loan (Home Renovation): A home renovation loan is availed to meet the costs of renovating or repairing your home.
  • Personal Loan (Vacations): A holiday loan is specially designed for vacations. You can take a loan for your vacation and pay the loan amount back on a later date through easy Instalments.
  • Personal Loan (Pensioners): A loan which is offered explicitly to pensioners is called Pensioners Personal Loan.
  • Personal Loan (Festivals): Certain banks offer a personal loan exclusively for festivals. If you are looking out for a personal loan to make arrangements for a festival celebration, you can apply for a festival loan.

Getting a Personal Loan? Improve your Chances – 

  • Rebalancing your debts and incomes: Lenders ask for proof of income when you apply for personal loans to know your debt-to-income ratio. Evaluate the sale of liquid assets like stocks or earning more through a part-time job to increase your annual income. Doing so will increase your debt-to-income rate and increase your chances of getting a loan.
  • Credit Clean-up: The main factors taken into consideration by lenders is your credit score. Getting a personal loan is more comfortable with a high credit score. If your credit score is low, you must check your reports to see if there are any errors. Sometimes, simple mistakes could harm your scores, and if you find any of these, you must report them to CIBIL.
  • Restrict Your Borrowing: It is risky to ask for money more than you require to meet your financial needs. You should calculate how much you need and apply only for that specific amount.
  • Consider Co-signers/Guarantors: If you are not able to get a personal loan on your own record, you could apply for one by adding a guarantor or co-signer. The guarantor chosen by you must have a good CIBIL score. Guarantor’s main aim is to make sure that you will repay your loan. However, they are liable to repay the loan themselves if you are not able to do so. Picking a person with a credit score over 750 is beneficial as it will considerably increase your chances of getting a personal loan.
  • Select the Right Lender: Each lender has its own set of requirements when it comes to income and credit scores. When looking out for personal loans, pick a lender whose eligibility criteria you can meet and apply accordingly. The problem with using more than one lenders is that each one of them will check your credit score. Every time your full credit report is pulled out, your credit score drops, a bit.

Prepayment and Part-Payment in Personal loan

A Personal loan is usually of a fixed tenure period which is known as the loan repayment tenure. An applicant is required to pay regular EMIs every month for this period. In case the applicant decides to pay off the loan amount before the end of the tenure, it is termed as foreclosure or Pre-payment. There are broadly 2 types of prepayment:

Full Prepayment

If the applicant pays off the whole outstanding amount of loan before the end of the tenure, it is termed as full- repayment.

  • Merits of Full Prepayment:
    • If the lender does not charge any sort of interest for the pre-payment then you can save yourself interest charges by making full prepayment of your loan.
    • Avoid paying hefty interest on loans.
    • Getting rid of the loan is always a good thing.
  • Demerits of Full Prepayment:
    • Some lenders may charge heavily if you plan to foreclose your loan.
    • Paying regular EMIs on your loans also provide you with certain tax benefits. Foreclosing your loan might not be the best option in such cases.

Part Pre-Payment

If the applicant pays off only a part of the entire amount of the loan, then it is termed as Part Prepayment.

  • Merits of Part Pre-Payment:
    • It will reduce the principal loan amount and also the EMI amount.
    • The overall interest rate will also be reduced.
  • Demerits of Part Pre- Payment:
    • Your lender might charge you heavily for the pre-payment.

What to do after closing a Personal Loan?

Paying off your loan whether partly or fully does not mean that your obligation for the loan is over. There are various things you must do after you complete paying-off all your dues:

  • No dues certificate: Once you make all the payments due to your loan amount, the lender will issue you a No dues certificate as proof that your loan has been paid off. It is one of the most essential documents that you must collect from your lender. In case of loan payments being made by cheque or NEFT, the lender will issue the certificate on your registered address.
  • Statement of Account: As Statement of account is optional in nature, not all lenders provide it. In case of discrepancies in the CIBIL score, you may use Statement of Account to make the necessary changes.
  • Unused cheques: The collection of no dues certificate along with the unused cheques usually marks the end of the closing of a personal loan.

It is also recommended that you check your CIBIL score after the loan process ends.

Modes of a Personal Loan Loan Repayment

The mode of a loan repayment may vary from bank to bank. But the main modes that are widely followed are as follows:

  • Post Dated Cheques: are the cheques issued for repayment of loans in a particular future date for a specific mentioned amount.
  • Electronic Clearance System: is an electronic mode of repayment of loans by transference from one bank to another.
  • National Automated Clearing House: NACH offered by NPCI can be used as a mode for real-time transactions.
  • Debit Mandate or standing instruction: is when you give an instruction to the bank to make payments to some other bank at a regular period of time.

How to Check Personal Loan Status?

The personal loan status can be regularly checked through both online and offline modes:

  • Online mode: All major banks and NBFCs provide online portals where you can log in to check the status of your loan application.
  • Offline mode: You can contact your lender over the phone to know your personal loan status and can also visit the branch to know about the loan personally.

personal loan at 10.75%*

How to Get a Personal Loan Statement?

You can get your loan statement by visiting the branch of your lending bank or can check the online web portal for the same. On most websites entering the account number and other essential details will provide you with your personal loan statement through registered your e-mail.

How to Avoid Rejection of a Personal Loan?

There may be a number of reasons why your personal loan may get rejected. But provided you fulfil the eligibility criteria including age requirements, income requirements, good CIBIL score and also provide all the necessary documents like Income proofs and residential proofs, you can prevent your personal loan rejection.

Personal Loan Top-Up

On addition to having an existing loan, you may also apply for an additional loan known as the Top-up loan. This loan will be subjected to the same loan tenure as your previous loan and its interest rate may go up by 1% than the existing loan rate.

  • Regular EMI payment of the existing loan is necessary to avail a top-up loan.
  • No sort of collateral is required.
  • Minimum Documentation required to avail a personal loan top-up.

Personal Loan Balance Transfer

In case the applicant wants to transfer his existing loan to some other lender, due to a better interest rate, flexible tenure for repayment he may opt for a personal loan balance transfer.

  • Low-interest rates are available.
  • Option to get a top-up personal loan.
  • Avail various benefits like zero processing fee, waiver of previous EMI, etc.

Personal Loan Disbursal

Once the personal loan eligibility criteria are met and the documents are approved, the personal loan will get disbursed within a few hours.

FAQs About Personal Loan 

✅ What is a personal loan?

A personal loan is an unsecured loan that you can borrow from a bank or NBFC to address any sort of financial need.

✅ How does a personal loan work?

Once you submit your personal loan application to a lender, the lender verifies and approves it according to the requirements of the institution. Post this, the loan amount is immediately disbursed into your bank account. You will be required to pay the EMIs every month as a repayment of your loan.

✅ What is an EMI?

Equal Monthly Installment or EMI is the amount of money that a borrower is required to pay every month to clear off the debt within a mentioned specific tenure. EMI includes the principal amount and interest on the loan.

✅ What is a credit score? Why is it important?

A credit score or CIBIL score is a number that indicates your past repayment history. The requirement varies according to your lending institute.

✅  What is the maximum amount of loan I can get?

Amount of loan you can get completely depends on your income. In India, there are lenders who are offering up to Rs.50 lakhs.

✅ What is a prepayment of a personal loan?

In case you wish to repay the loan before the end of the tenure, it is termed as a prepayment of personal loan. You may do it partially or even completely.

✅ Is the PAN card mandatory to apply for a personal loan in India?

Yes, having a PAN card is mandatory while availing for a personal loan in India.

✅ What if I default on my loan repayment when I have offered collateral security?

Personal loans are unsecured loans which mean if you don’t fulfil the loan criteria, you may still be able to get a loan by offering collateral security. In such cases, you have to be careful about repaying the loan before the tenure ends.

✅ What happens if I default on my EMIs and have a guarantor?

A guarantor is someone who guarantees the repayment of your loan on your behalf. So, if you’re not able to repay the loan amount within the tenure and when the instalments are due, your guarantor or co-signer will be asked to pay them.

✅  If I have a co-applicant and I default on my repayment of the loan. What will happen?

Co-applicants for a Personal Loan are equally responsible for the repayment of the loan. If one applicant fails to repay the loan, the remaining applicants are bound to do so. So, if you’re unable to pay the EMIs on time, then your co-applicant is expected to pay them regularly. If your co-applicant also fails to repay the instalments of loan on time, it will result in a repayment default of the loan amount.

✅ Can I offer collateral and get a Personal loan even if I have bad credit?

Yes, you can avail a loan on the basis of your collateral. This is the second way to get a loan even if your CIBIL score is low. Some lenders may offer you a personal loan if you’re willing to offer them something as collateral security. The lender will have every right to possess your collateral if you don’t repay the loan as agreed upon.

✅ Am I eligible to get a loan if applied with a co-applicant, if I have a bad credit score?

Yes, applying for a personal loan along with a co-applicant who has a good credit score can help you get a Loan even if you have bad credit. The scores of both the applicants are taken into consideration when processing a joint-loan application. This way, the good credit score of your co-applicant will help balance out your poor credit score. But, keep in mind that your co-applicant will be held responsible for repaying the loan if you are not able to do so.

✅ What credit rating should be required to get a personal loan?

A CIBIL score of 700 and above is considered to be a good score for personal loan approval. But, having a score of 800 or more will get you into the good books of lenders. It could also get you better interest rates and repayment options on the loan.

✅ Why take a personal loan?

A personal loan which is an unsecured form of loan can help you during any sort of tough financial situations. You can apply for one easily if you simply qualify for it. Lenders usually process your loan quickly if all the requirements are met

✅ What is the process of applying for a loan online?

The process of applying for a personal loan online includes the following steps:

  1. Search online for the right loan according to your need
  2. Get the required documents ready
  3. Applying for the loan online
  4. Submitting the documents to the concerned party
  5. Wait as your loan gets approved
  6. The loan will be disbursed in your bank account

✅ What will happen if I don’t have all the required documents for a personal loan?

You must have all the documents that are required before you apply for a loan. However, if you don’t have any of these, you can talk to the lender and find out if there is an alternative way available. But, if these are vital documents, your loan will not be sanctioned until provided.

✅ Is part- prepayment option available on my loan?

Your Personal loan can be prepaid in part or as a whole before the end of the term. Some banks may even charge a prepayment penalty for the same while others may not. Some banks do not allow for part-prepayment at all. So, it is important to check all the documents before finalising on the personal loan with the lender.

✅ Can I combine my income with my spouse to take a personal loan?

Yes, you can combine the income of your spouse to boost your eligibility criteria to avail a personal loan.

✅ Am I eligible for a relationship discount for a personal loan?

If you’ve been a customer to a particular lender for a while, and you apply for a personal loan through it, then the bank might reduce the loan interest rate or other such charges.

✅ Do I need a bank account to service my personal loan in that bank?

If you don’t have an account with the lender where you are applying for a personal loan, it is not compulsory to open one. But, if you apply for a Personal loan with your existing banker, then you may be eligible for a relationship discount.

✅ How do I avoid other loan calls from the executives?

Some banks often let you register yourself for ‘Do Not Disturb’ option that prevents the executives from disturbing you with other loan calls.

✅ What is the best mode to apply for a Loan?

The best way to apply for a loan is through online mode of loan application tool available at DialaBank.com The portal can be accessed on this page giving users the liberty to choose personal loan from various lenders as per their needs.

✅ Is my Data Safe with DialaBank.com?

DialaBank.com is India’s first financial helpline and takes utmost care in ensuring that all data is sent in electronic form with a high level of encryption. DialaBank.com does not share data with any third party other than the financial institution.

✅ Is DialaBank.com Personal Loan Tool Free?

Yes, DialaBank.com personal loan calculator tool is totally free for all the users.

✅ How can I obtain a Duplicate Repayment Schedule for my loan account?

You can request your bank or lender for a personal loan duplicate repayment schedule by visiting the bank or via your net banking account, or by calling them or by writing to them via your registered email address.

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