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Personal Loan in Indore

Personal Loan in Indore

Last Updated : Sept. 7, 2018, 2:58 p.m.

Are you looking for best personal loans in Indore city? Have a look at the personal loan interest rates at top banks and eligibility criteria to help yourself find the suitable deal.

Top Banks Offering Personal Loan in Indore

Bank NameMain Branch AddressPersonal Loan Rate of Interest
State Bank of India (SBI)Nehru Stadium, GPO, Ushaganj, White Church Colony, Indore, Madhya Pradesh 45200111.00% - 14.00%
HDFCC-602, Pandit Dindayal Nagar, Sukhliya Main Road, Sukhliya, Indore, Madhya Pradesh 45201010.75% - 14.50%
ICICIShop No: 286, Mahatma Gandhi Rd, Gorakund Square, Gorakund, Maharaja Tukoji Rao Holker Cloth Market, Indore, Madhya Pradesh 45200210.75% - 19.00%
AxisH/1, Scheme No. 54, Vijaynagar, Indore, Madhya Pradesh 45201010.49% - 21.00%
Punjab National BankSitlamata Bazar Main Road, Near Cloth Market, Indore, Madhya Pradesh 45200211.40% - 16.95%
Bank of IndiaGf - A, Scheme No. 54, Near SICA School, Main Road, Vijay Nagar, Indore, Madhya Pradesh 45201010.35% - 14.85%
Bank of BarodaChhoti Gwaltoli Main Rd, Siyaganj, Indore, Madhya Pradesh 45200710.90% - 18.25%
Central Bank of IndiaSitlamata Bazar Main Rd, Sitlamata Bazar, Bombay Bazaar, Maharaja Tukoji Rao Holker Cloth Market, Indore, Madhya Pradesh 45200212.30%
IDBI Bank16-C, Omni Palace Hotel, Ratlam Kothi Main Road, Near Geeta Bhavan Square, South Tukoganj, Indore, Madhya Pradesh 45200110.50% - 13.25%

Personal Loan Interest Rates Indore

Interest Rates8.80% - 26.00%
Processing Fee1%-3% of the loan amount + GST
Pre-payment Charges3%-5% of the principal outstanding + GST
Repayment PeriodUpto 5 Years
Lowest EMIINR 2,204 - INR 2,935 (per Lakh)

Personal Loan Eligibility

The basic eligibility criteria for a personal loan is as follows:


Age: 21-60 Years
Income: ₹1,44,000-1,80,000 p.a.
Overall Work Experience: 2-3 Years
Work Stability with Current Employer: 1 Year


Age: 24-65 Years
Income: ₹1,80,000-2,00,000 p.a.
Stability in the same Profession: 3 Years

Personal Loan Calculator

Talking about a personal loan, how can a personal loan EMI calculator online be missed. Yes, this smart and time-saving device with its best of functionality and fastest algorithm gives you the exact results in the least time frame. After taking into account-Tenure, Loan Amount and Interest Rate, this magical tool fetches the values of EMI, Interest Outgo and Total Amount Payable in just a few seconds.

Below is an example for you to understand how an EMI calculator calculates the monthly of your personal loan. The calculations are based on a loan amount of ₹5 Lakh, taken for a tenure of 5 years at an interest rate of 11% per annum.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

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

YearPrincipalInterestBalance Amount
1₹ 79,377₹ 51,077₹ 4,20,622
2₹ 88,562₹ 41,892₹ 3,32,059
3₹ 98,811₹ 31,643₹ 2,33,248
4₹ 1,10,245₹ 20,209₹ 1,23,003
5₹ 1,23,101₹ 7452₹ 0

Documents Checklist

  • Identity Proof- PAN Card/Voter ID/Driving License/Aadhar Card/Passport
  • Address Proof- Utility Bill/Passport/Aadhar card/Voter ID
  • Income Proof- Latest Salary Slip/ ITR/Form-16
  • Bank Statement- Last 3-6 Month Bank Statement

About Personal Loan in Indore

A personal loan is a type of unsecured loan that can be availed without any collateral and no legal formalities. It comes to you with flexible loan tenures, maximum loan amount and at competitive interest rates. From today onwards, you will pay a standard GST rate of 18% in addition to the processing fees and other charges that are based on service tax.

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