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Get a loan without requiring any collateral or security and with minimal documentation.
Enjoy fixed interest rates and predictable monthly payments that help you plan your budget and finances accordingly.
Get the loan amount quickly, usually within 24 hours of approval, making it ideal for emergencies.
Enjoy flexible repayment tenure options, ranging up to 7 years, allowing you to choose a repayment plan that suits your financial situation and needs.
Combine your income with that of a co-applicant to increase your eligibility and secure a higher loan amount.
Before opting for a Personal Loan, ensure you qualify by checking your eligibility here.
Charge Type | Amount |
---|---|
Cheque Return charges | ₹500 + GST per instance |
Default Penal charges | 3% of pending amount per month |
Charges for cancellation of Loan |
4% of loan amount disbursed + applicable taxes |
CIBIL report retrieval fees | ₹100 + GST per instance |
Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
Loan re – schedule charges | ₹5000 + GST per instance |
Stamp Duty | As per Actual if applicable |
Insurance Premium | As per Actual if applicable |
Pre – closure Quote | ₹1000 + GST per instance |
Any other charges | As per Actual if applicable |
Part - Pre Payment Charges |
Charges: A) Nil Charges - If Part prepayment is equal to 20% of total disbursed amount in a year
B) 4% + GST, on remaining loan amount – if part pre-payment is greater than 20% Conditions: A) No pre – payment is allowed in first 12 months from the date of disbursement. B) Part Pre - Payment amount should be equal to OR greater than total of 3 EMIs. C) In first year of loan tenure, part-prepayment is allowed only once |
Foreclosure Charges |
4% of the Principal outstanding amount + GST Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
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A personal loan is a credit option that allows you to meet financial obligations without providing security or collateral. It comes without an end-use restriction thus it can be used for a variety of purposes making it easy to manage.
A personal loan is versatile and can cover various expenses like home renovations, marriage, vacations, debt consolidation, medical bills, business investments, car repairs, etc.
Yes! The minimum personal amount that you can borrow is about Rs 50,000.
Yes! You can apply for a Personal Loan individually or jointly with a family member, such as your spouse or parents. Applying with a co-borrower, especially with a higher income, increases the potential for a larger Loan amount. However, if the co-applicant has a poor credit history, it could negatively impact the Loan application's success.
Aditya Birla Finance Limited