Personal Loan Ludhiana

⋆ 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

Major Personal Loan Providers in Ludhiana

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

Personal Loan Ludhiana Features

Personal Loan Ludhiana

Personal loan LudhianaA 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 with minimum documentation and hassle-free process. The Rate of Interest is also very competitive which proves to be an advantage for the customer. 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 from 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

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

Documents for Personal Loan Ludhiana

Personal Documents:

  1. Age Proof
  2. Identity Proof
  3. Photo and signature.
  4. Aadhar Card, Pan Card, Driving License, and Passport.
  5. Personal loan form filled and signed by the applicant.

Salaried Customers:

  1. Ration Card, Electricity Bill, and Telephone Bill.
  2. Sale /Property purchase agreement (for owned properties).
  3. 3 Months Bank Statement of the applicant to show income stability.
  4. Latest 3 months salary slips of the applicant.

*NOTE: In case of rented apartments, rent agreement needs to be attached.

Self-Employed Customers:

  1. Ration Card, Electricity Bill, and Telephone Bill.
  2. Office Address proof of the owner of the business.
  3. Residence proof or proof of office ownership.
  4. Audited financials of the business for the last two years.
  5. Latest 6 Months Bank Statement of the applicant to show the stability of the business.
  6. Proof of continuity of the business.

personal loan at 10.75%*

Eligibility Criteria for Personal Loan Ludhiana

Personal Loan Eligibility criteria for both Salaried and Self-Employed are different:

Salaried Applicants

  1. Applicants must have Indian Nationality.
  2. Applicants should be within 23 to 58 years of age.
  3. The minimum monthly income of the applicant must be Rs.17,500.
  4. Minimum of 2 years of experience in job/profession.
  5. Minimum of 1 year stay in current residence.
  6. The applicant’s credit score should be 750 or above.

To know more about: Personal Loan for Salaried Applicant

Self-Employed Applicants

  1. Applicants must have Indian Nationality.
  2. Applicants should be 28 years (self-employed individuals) and 25 years (for doctors) and the maximum age-eligible is 65 years.
  3. Minimum Turnover is Rs. 40 lakh for non-professionals and Rs. 15 lac for professionals as per audited financials.
  4. Minimum profit after taxes Rs. 2 lac for private Firm or Self Employed Individuals, Rs. 1 lac for non-professionals as per audited financials.
  5. Individuals should be operating in the current business for at least 5 years.
  6. 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?

  1. There is no need to deposit any mortgage and collateral security to the bank.
  2. A personal loan can be availed for various purposes and it solves the immediate need for money.
  3. Personal Loan gives freedom to the individual to become self-reliant and to solve any financial problem.

How to apply for Personal Loan Ludhiana?

To apply for an Instant Personal Loan Ludhiana, Applicants don’t need to visit the bank’s branch as applicants can apply for it online at DialaBank.com. The process is very easy & 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.
  • The amount will get disbursed to the applicant’s account within 3-5 working days if the loan gets approved.

personal loan at 10.75%*

Processing Fee / Prepayment Charges on Personal Loan Ludhiana

Every Bank and NBFC charges a fee for processing your Personal 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 know as EMI are the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. Based on your profile, the interest rate on your loan is determined. Your EMI is calculated basis the Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which 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. Most institutions require a minimum score of 750 to process your loan application.

The institutions don’t just look at the overall score but also the detailed behavior on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Any delayed payments for previous loans can act as a barrier to your availing a fresh loan.

personal loan at 10.75%*

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 Personal Loan in Ludhiana.

Pre Calculated EMI Table for Personal Loan Ludhiana

Rate
5 Yrs
4 Yrs
3 Yrs
10.50%
2149
2560
3250
11.00%
2174
2584
3273
11.50%
2199
2608
3297
12.00%
2224
2633
3321
12.50%
2249
2658
3345
13.00%
2275
2682
3369
13.50%
2300
2707
3393
14.00%
2326
2732
3417
14.50%
2352
2757
3442
15.00%
2378
2783
3466

About Ludhiana

Ludhiana is a city in the Indian state of Punjab. Ludhiana is a big 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 culture 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 Personal Loan in Ludhiana?

Most of the Banks and NBFCs provide a Personal Loan for a min period of 1 Yr and a Max period of 5 Years. There are some Banks which 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 tenure 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 amount of processing fee varies for each lending institution and is normally 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 charges. The pre-closure charges vary depending on how many years has your loan completed before you decide to pre-close it.

 Can my application for Personal Loan Ludhiana get rejected due to my CIBIL score?

Since Personal Loan is an unsecured loan, one of the most important decision criteria for getting your Personal 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 result in decreasing your CIBIL score. Most of the Personal Loan rejections happen due to a low CIBIL Score.

Other Cities For Personal Loan

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Personal Loan Kohara Personal Loan Kapurthala

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