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Planning a family vacation in the beautiful location of Australia? Facing the problem of credit card debt? Want to renovate your home? Interested in buying an expensive home appliance? Well, all this and many more personal needs of yours can easily be fulfilled with Bandhan Bank Personal Loan. That’s Right! The bank by offering the credit facility to all the applicants ensures that the needs of all the customers can easily be fulfilled. And, you know which is the best part? No matter what your needs, the bank will customize the loan for you, making sure that it best suited to your personal needs. Not only this, the existing account holders of the bank are eligible to enjoy the lucrative offers, attractive interest rates and minimal charges. So, without wasting any time further, let’s just get to know more about this credit facility on the page below.
Bandhan Bank Personal Loan Interest Rates October 2022
|Interest Rates||15.90% - 20.75%|
|Loan Amount||INR 1 Lakh - INR 5 Lakh|
|Tenure||12 to 36 Months|
|Processing Fee||1% of the Loan Amount+GST|
Bandhan Bank Personal Loan Eligibility
In order to avail a personal loan from Bandhan Bank, it is mandatory for an applicant to meet the eligibility norms set by the bank. So, take a look below to read the eligibility criteria.
- Salaried and Self-employed Individuals both are eligible to apply.
- The minimum age of the individual should be 21 years at the time of availing a loan.
- The maximum age of an applicant should not be more than 57 years at the time of loan maturity.
- Applicants should have a minimum relationship of 6 months with the bank.
- The Bank Account of an applicant should be operational with minimum 1 credit and 1 debit-customer induced entry, per month.
Bandhan Bank Personal Loan EMI Calculator October 2022
Want to know what would be your EMI, if you are going to avail a personal loan from the bank? Well, all you need to know about an EMI Calculator! This magical and smart device with its fastest algorithm fetches the values in just a few seconds. After taking into consideration:
- Loan Amount
- Interest Rate
The device churns out the values for you so that it is going to be a hassle-free ride for you. It saves a lot of time and energy , hence can also be called an efficient online tool, which helps in taking your calculative decision.
Suppose, Ankit Verma, a 28-year-old, Software Engineer by profession wants to avail a loan of INR 5 Lakh to renovate his home. Bandhan Bank has agreed to offer the same amount at an interest rate of 12% per annum for a tenure of 3 years. So what would be his EMI , Interest and Total Amount Payable? Let’s find out the same via an EMI Calculator.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
|Loan Amount||Interest Rate||Tenure||Monthly Instalment||Total Interest Amount||Total Amount|
|₹ 5,00,000||12%||1||₹ 44,424||₹ 33,093||₹ 5,33,093|
|₹ 5,00,000||12%||2||₹ 23,537||₹ 64,882||₹ 5,64,882|
|₹ 5,00,000||12%||3||₹ 16,607||₹ 97,858||₹ 5,97,858|
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
|1||₹ 1,47,207||₹ 52,078||₹ 3,52,792|
|2||₹ 1,65,877||₹ 33,408||₹ 1,86,914|
|3||₹ 1,87,079||₹ 12,371||₹ 0|
Documents Required to Apply for Bandhan Bank Personal Loan
You have to document ready, as far as availing this loan is concerned. To know a complete list of documents, just read the page below.
- Identity Proof: Passport/PAN card/Voter ID card/driving license/Aadhaar Card#
- Address proof: Passport/PAN card/Voter ID card/driving license/Aadhaar Card#
- Signature Proof: Passport/PAN card
- A Photograph
- Last three months salary slip & Form -16 for 1 year for salaried *
- ITR for last 2 years with computation of Income, Balance Sheet and P & L a/c for self-employed*
# Original KYC documents will be required for verification at Branch for Online Application
* Not applicable for online application basis pre-qualified offer
Bandhan Bank Personal Loan Apply Online
When it comes to applying for Bandhan Bank, it would not be wrong to say that you can easily apply online for the same. Yes, the bank offers an online facility, wherein from the comfort of your home or office, you can anytime apply for this unsecured credit facility to meet your various personal needs. The process of online applying is extremely simple and quick as all you need to do is just submit an online application form by clicking the submit button. Soon after receiving your application, the bank executives will get in touch with you for further loan proceedings.
Features and Benefits of Bandhan Bank Personal Loan
- Attractive Interest Rates: Bandhan Bank offers the best personal loan interest rates based on its Marginal Cost of Lending Rate (MCLR). And the interest rate ranges from 15.90% - 20.75% per annum.
- Minimal Paperwork: Loan approval requires just a few documents to support your identity, residence and income.
- Fastest Approval: As it’s an unsecured loan, you don’t need to provide any security or collateral. As a result, there’s no extra formalities than the documents mentioned above and, therefore, the loan gets approved quickly. The money gets disbursed in your account in a maximum of 48 hours.
- Flexible Tenure: The loan repayment is divided into Equated Monthly Installments (EMIs). You can choose to pay EMIs for tenures ranging from 12 to 36 months.
- No Hidden Charges: The transparency is greatly ensured as there are no hidden charges associated with the loan disbursal.