Personal Loan Salem

⋆ Interest Rate 9.99% ⋆

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      Personal Loan Salem

      Best Banks for Personal Loan in Salem

      Feature HDFC Bank ICICI 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
      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 Salem Features

      personal loan SalemPersonal loan Salem is available for all those who are running short of and in need of cash. This loan is unsecured in nature with minimal documentation and paperwork. Another benefit is that the approval of this loan will be finalized within 48 hours after the verification process.

      Personal Loan Salem is an unsecured loan that provides financial aid to the customers at affordable interest rates. A rigid and good source of income along with a satisfactory credit history is essential in order to provide loans to the applicants. The applicants can also use this loan amount anywhere they want to.

      Moreover, there is no end-use restriction on the use of the personal loan amount. A rigid and good source of income along with a satisfactory credit history is essential in order to provide loans to the applicants.

      Personal Loan in Salem 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 0.01 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 Required for Personal Loan in Salem

      Salaried Customers:

      There are various documentation requirements for salaried customers in order for them to avail of a Personal loan Salem. these documents include Identity proof (Aadhar card/driving license), salary slips of the last three months, bank statements for the last 6 months, PAN card, residence proof (owned/rented/company provided), and passport-sized photographs – 2.

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

      Self-Employed Customers:

      There are various documents required even for self-employed customers in order for them to avail of Personal loan Salem. These documents include Financials( Balance sheet,  P@L Statement as well as ITR files), PAN card, Aadhar card, Residence proof, and two passport-sized photographs.


      Interest Rate 9.99%


      Personal Loan in Salem Eligibility Criteria

      The personal loan eligibility criteria for both Salaried and Self-Employed for a Personal Loan Salem are different:

      Salaried Applicants

      1. The minimum age requirements of the individual should be 21 years and a maximum of up to 60 years.
      2. The applicants must have the work experience of the three years. The salaries of the applicants should be deposited only in their accounts.
      3. The candidates must have an excellent credit history.
      4. The job venue of the applicant should be mentioned.
      5.  A borrower should have a minimum income of INR 25,000 per month.

      Click here to know more about- Salaried Applicant

      Self-Employed Applicants

      1. The minimum age for getting a personal loan should be 25 years.
      2. The applicants applying for the personal loan should present the ITR for the last three years.
      3. If the applicants are businessmen, then the business must be working for the past three years.
      4. The credit score of the consumer must be good. There should not be any debt or dues left.
      5. The annual income of the applicants should be a minimum of Rs 2.5 lakh.
      6. The whole documentation process of the personal loan is the applicants have to submit his financial and his bank statement of the previous three months.

      Click here to know more – Self-employed Applicant

      Why Apply for Personal Loan in Salem?

      Personal loan Salem provides its customers with several benefits other than what other loans provide. In this loan, mortgage and collateral security do not need to be deposited to the bank. A personal loan is a multi-objective offer loan. All the problems related to finance can be addressed by this loan. Also, the amount of personal loan depends upon the repayment of individual income and capacity. Another added benefit is that a Personal Loan does not require any guarantor or nominee.

      How to apply for Personal Loan in Salem?

      1. Visit
      2. Go to the loan section and press on the personal loan link.
      3. An individual will be directed to all details of the personal loan.
      4. For more information, you may call on 9878981166.


      Interest Rate 9.99%


      Processing Fees / Prepayment Charges on Personal Loan in Salem

      Every Bank and NBFC charges processing fees for your Personal Loan application. The processing fee is 1% of the loan amount.

      A penal fee is charged by every lending foundation in the case when the applicant wishes to foreclose the loans before the agreed loan tenure. In most cases, you may not close your loan before 12 months. After that, the charges differ depending on how many years the loan has done. These charges alter from 4% in the 2nd year to 2% in the 4th year of the loan amount.

      Personal Loan EMI Calculator Salem

      You can use personal loan EMI calculator to calculate EMIs. Equated Monthly Installments are the monthly fixed payments that you pay to the bank as repayment for the loan amount borrowed. Based on your profile, the interest rate on your loan is decided. Your EMI is calculated basis the Interest Rate you are charged by the bank and the amount of loan you have taken and the loan tenure duration.

      CIBIL Score required for Personal Loan Salem

      • For the processing of a personal loan application in Salem, every institution has the norm for the CIBIL score.
      • The requirement of minimum CIBIL score: 750
      • Previous loan history check by the institution.
      • Barrier: Any delayed payments of your previous loan.


      Interest Rate 9.99%


      Personal Loan Salem Agents/Broker

      Dialabank is the leading agent for availing Personal Loan in Salem. You can apply online at or give a call at 9878981166.

      Dialabank offers help to find the best option of Banks and NBFCs by providing you with a detailed market comparison of different banks so that you can make the right decision. Visit the website and fill a simple form with your details. Our customer relationship managers will contact you.

      Personal Loan Salem Contact Number

      Call 9878981166 and get instant help and approval for Personal Loan in Salem.

      Pre Calculated EMI Table for Personal Loan Salem

      5 Yrs
      4 Yrs
      3 Yrs

      About Salem

      Salem is a city that is situated in the Salem district in Tamil Nadu. It is a prime textile center in Tamil Nadu with more than 125 spinning mills, weaving units, and garment units. It has more than 75,000 handlooms are working and the total value of cloth produced per annum is estimated at Rs.50000 crores.  Law and order are maintained by the Salem city subdivision of the Tamil Nadu Police, headed by a Deputy Superintendent. Earlier, Salem was the largest district of Tamil Nadu. It was then bifurcated into Salem – Dharmapuri districts in 1965 and the Namakkal district in 1997.

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