Personal Loan Vellore

⋆ Interest Rate 9.99% ⋆

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      Table of Contents

      Personal Loan Vellore

      Best Banks for Personal Loan in Vellore

      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 in Vellore Features

      A personal loan can help you in many ways, even more than you expect. Be it your wedding, event, or any other holiday plan, this loan can give you multiple options to use them. Here are some basic details of a personal loan.

      •  The Loan amount will depend on the income and payment capacity of the person.
      • It is a multi-purpose use offer that can be used during many financial problems.
      • You need not put any property or asset as collateral to the lender.
      • No cosigner is needed.

      With a personal loan, anything is possible. You can use this loan amount in many ways without having to worry about spending restrictions. For example, you can use this loan amount to pay your medical expenses or use the loan amount to fund your child’s wedding. The loan is unsecured with minimal documentation and less paperwork. This loan can get approved within 48 hours after the verification process.

      Personal Loan in Vellore Interest Rates and Charges

      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

      Personal Loan in Vellore Documents Required

      Documents required to avail of a personal loan vary for salaried customers and self-employed ones. Following are the essential documents for both kinds of customers:

      Salaried Customers:

      1. A PAN Card
      2. Residence Proof (Owned/Rented/Company provided)
      3. Passport-sized photographs – 2
      4. Identity proof (Aadhar card/driving license)
      5. Salary slips of last three months
      6. Bank statements for the previous six months

      *NOTE: Rent agreement needs to be attached in case of rented apartments.

      Self-Employed Users:

      1. All financials (Balance Sheet, P&L Statement as well as ITR files)
      2. PAN Card
      3. Aadhar Card
      4. Residence Proof
      5. Two passport-sized photographs

      personal loan at 10.75%*

      Personal Loan in Vellore Eligibility Criteria

      The Personal loan eligibility criteria differ for both Salaried and Self-Employed customers:

      Salaried Applicants

      • Minimum age: 21 years
      • Maximum age: 60 years
      • Net monthly income: Minumum Rs. 18,000
      • Minimum Experience: At least 6 months in the current job.
      • In the case of SuperA company, the minimum experience in the current position required is three months.
      • Needed total experience: 1 year.
      • Cibil score 700+

      Self-Employed Applicants

      • Minimum age: 25 years.
      • Maximum age: 65 years.
      • Minimum annual turnover: Rs. 20 lakh
      • Experience in current business: 3 years
      • Total-experience in industry: 5 years

      Why Apply for Personal Loan Vellore?

      • A Loan without any security: Banks don’t ask for any security or collateral. So, there is no need for depositing collateral or security.
      • Simple Documentation: You can get it with minimum documentation with a quick process. Banks need some primary documents like identity proof, address proof, income proof, etc.
      • The amount can be ranging from Rs. 50,000 to Rs. 20 lakh.
      • Fast Loan Approval: It is easily sanctioned within 48-72 hours without any hassle. After getting the documents, the loan will get disbursed within 24 hours of verification.
      • Multipurpose: Personal loans can be used for various purposes, i.e. paying bills, holidays, weddings, buying new land, etc.
      • No Third-party: It is a relationship between the borrower and the lender. The loan is directly given to the customer without the involvement of a third party.

      How to apply for Personal Loan Vellore?

      1. Visit Dialabank.
      2. Fill in the required details like name, income, location, etc.
      3. Choose a personal loan option from the box.
      4. Click on Request a quote.
      5. Wait as our relationship manager will soon get in touch with you.
      6. For more information and free guidance, you may call on 9878981166.

      personal loan at 10.75%*

      Processing Fee / Prepayment Charges on Personal Loan Vellore

      Every Bank and NBFC charges a fee for processing your Loan application. These charges vary between 1% of the sanctioned loan amount.

      If you wish to foreclose your loan before the agreed loan tenure, every lending institution charges you a penal prepayment fee known as the Pre-closure charges. In most cases, you cannot close your loan before 12 months. Post that, the costs vary depending on how many years the loan has been done. These charges range from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan.

      Personal Loan Vellore 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, income, loan amount, and tenure, the interest rate on your loan is determined. Your EMI is calculated basis the Interest Rate the bank charges you, which must be paid every month.

      You can also determine your EMI using the Personal loan EMI Calculator.

      CIBIL Score required for Personal Loan Vellore

      Every lending institution has its criteria for the minimum CIBIL score required for processing a Personal Loan application Vellore. Most institutions need a minimum score of 750 to process your loan application. Others might look into other factors like income and job stability to process the loan.

      The institutions look at the overall score and the detailed behaviour on the previous loans taken. 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 of a new loan.

      • A CIBIL score of 750 and above will ensure easy accessibility to loans.
      • A CIBIL score of 700-750 might require the bank/NBFC to check on other factors.
      • A zero or negative CIBIL score will require a bank/NBFC to check your job’s stability, assets, house, etc.

      personal loan at 10.75%*

      Personal Loan Vellore Agent and Contact Number

      Dialabank helps you compare various banks and NBFCs so that you can avail the best offers available according to your need. DialaBank is the best agent available for a personal loan in Allahabad. Our relationship manager will ensure you get the best loan at the lowest possible interest rate with hassle-free documentation. The benefits of applying through DialaBank are:

      • Lowest interest rates
      • Instant Approval in 2 hours
      • Easy Documentation and flexible loan tenure
      • Get a dedicated helpline for your loan enquires

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

      Pre Calculated EMI Table for Personal Loan Vellore

      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 Vellore

      Vellore is a city in the Indian state of Tamil Nadu, which lies on the banks of the Palar River and is also famous for its historical fort built in the 13th century. The district is well connected by Railways and bus routes to the larger towns of the neighbouring states.

      FAQs

      Who can apply for a personal loan Vellore?

      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 Vellore.

      What is the tenure of a personal loan Vellore?

      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 instalments within the agreed term of the loan.

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