Aditya Birla Finance Personal Loan

About Aditya Birla Finance Personal Loan

Enjoy the life to the fullest without worrying about the expenses. Get your happiness funded by Aditya Birla Finance personal loan. The company provides personal loan for the amount ranging from INR 2,00,000 up to the maximum amount of INR 20,00,000. The interest is charged at the rate of 14% p.a. Prepayment of loan is not allowed till 6 months from disbursement. No processing fee is charged and no collateral is required to avail the loan.

Features and Benefits

  • Quick disbursal
  • Less paperwork
  • Competitive rate of interest
  • Easy repayment service
  • No security or guarantor required

Personal Loan

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    Aditya Birla Finance Personal Loan Interest Rates December 2020

    ParticularsDetails
    Interest Rates14.50% - 17.50%
    Loan AmountINR 1,00,000 - INR 15,00,000
    Maximum TenureUp to 84 months (7 Years)
    Repayment OptionECS/ NACH
    Processing Fees2% of the loan amount plus GST
    Prepayment ChargesNIL, permissible after 6 months of disbursement
    Security/ CollateralNot required
    Penal Charges2% per month
    Cheque Return Charges / ECS Failure ChargesINR 750 per instance
    Cancellation Charges 4% of the amount disbursed
    CIBIL Report Retrieval Fee INR 50 per instance for consumer

    Aditya Birla Finance Personal Loan Amounts

    Aditya Birla disburses a minimum loan amount of INR 1,00,000. The maximum loan disbursal will depend firmly on the type of company you work at. If you are working in any of the CAT A and CAT B companies, the maximum loan amount will then be INR 15 lakh. Employees working in CAT C and CAT D companies can get a loan upto INR 7.5 lakh and INR 5 lakh, respectively. Under low income program, the maximum loan eligibility can be upto INR 5 lakh. The eventual disbursal will depend on your income and existing obligations, if any.

    Aditya Birla Finance Personal Loan EMI Calculator

    The simplest way to calculate the amount of EMI is by using a personal loan EMI calculator online. This device eases the calculation and computes the accurate amount of your monthly installments. You can even know the total repayment amount you are liable to pay at the end of tenure. This smart device with its simple algorithm and fastest process gives you the results in just a few seconds.

    For your better understanding, below is a table showing the calculations of INR 2 Lakh loan amount, taken for a tenure of 5 years at an interest rate of 14% per annum.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 2,00,00014%1₹ 17,957₹ 15,489₹ 2,15,489
    ₹ 2,00,00014%2₹ 9603₹ 30,462₹ 2,30,462
    ₹ 2,00,00014%3₹ 6836₹ 46,079₹ 2,46,079
    ₹ 2,00,00014%4₹ 5465₹ 62,334₹ 2,62,334
    ₹ 2,00,00014%5₹ 4654₹ 79,219₹ 2,79,219

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 29,701₹ 26,142₹ 1,70,298
    2₹ 34,137₹ 21,706₹ 1,36,160
    3₹ 39,235₹ 16,608₹ 96,925
    4₹ 45,095₹ 10,749₹ 51,829
    5₹ 51,883₹ 4014₹ 0

    Eligibility Criteria

    The candidates fulfilling the following conditions are eligible to avail the loan:

    • Minimum age at the time of application should be 23 years
    • Maximum age at time of loan maturity should be 60 years (salaried) or 55 years (self-employed)
    • The minimum net monthly income should be INR 20,000 for employees working in CAT A and CAT B companies. Whereas, the minimum net monthly income requirement rises to INR 30,000 for employees working in CAT C and CAT D companies
    • Employees working in CAT A and CAT B companies must have work experience proof of at least 2 years. Whereas, only confirmed employees in CAT C and CAT D companies can get the loan.
    • Employees working in CAT C and CAT D companies must have provident fund deductions. If there are no such deductions, the company must have been registered to the provident fund. In the absence of these, a loan cannot be given to employees working in these entities
    • For low-income program, the average banking should be a minimum of 1 year and the concerned individual must have an official email ID and have a maximum credit card utilization of not more than 25%

    Documents Required

    Following documents are to be attached along with the application form:

    • Passport size photograph of applicant and co-applicant
    • Last three month’s salary slips from the date of application
    • Last six months bank statement
    • KYC documents

    List of KYC documents:

    ID Proof Address Proof
    PassportPassport
    PAN Card/ Aadhaar CardTelephone Bill
    Driving LicenseElectricity Bill
    Voter IDID Card Issued by Post Office
    Government ID CardBank Statement with Cheque
    Senior Citizen ID CardAny other ID proof or address proof document can be submitted subject to lender's satisfaction

    How To Apply

    You can apply for Aditya Birla Finance personal loan through a variety of channels :

    • Apply Online
    • Download the form from official website
    • Call on 1800-270-7000
    • Email at [email protected]

    Online Application Form

    • The application form is available online. The following fields are to be compulsorily filled:
    • Loan details
    • Personal details of applicant and co-applicant
    • Employment details of applicant and co-applicant
    • Existing loan details
    • Bank details
    • Reference details

    Aditya Birla Personal Loan Customer Care Number

    In order to get in touch with the customer care executives of Aditya Birla Finance, you just need to dial 1800-270-7000 or write to us at [email protected]. With the help of dialing the same, all your complaints, queries or concerns will come to an end. These executives with their expert skills and highly supportive nature resolve all your problems in the least time frame.

    Aditya Birla Personal Loan Status

    Want to know the real-time status of your personal loan application in Aditya Birla? If yes, nothing to worry as knowing the same is no more a hassle. With the help of using an online facility, you can easily track the current status of your personal loan application. An applicant simply needs to login to the account and from over there, it would be easier for him/her to know the updated personal loan application status. With this online facility, just from the comfort of your home, office or no matter where you are, it is no more a hassle to know whether your loan application is approved, pending or rejected.

    Factors Affecting Personal Loan Eligibility

    The factors that affect Personal loan eligibility are:

    • Monthly Income
    • Age
    • Monthly Expenses
    • Any Other Loan
    • Credit History
    • Job Stability
    • Relationship with the Bank
    • Category of Your Employer

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