Personal Loan in Lucknow

Lucknow, proudly called as the city of Nawab, is a vital centre for administration, commerce, finance, aerospace, technology, tourism, among others. When it comes to the economic growth, Lucknow is worth a mention as the city houses different industry segments such as aeronautics, furniture, distillery chemicals, machine tools, etc. To let these businesses flourish in Lucknow, banks and other financial institutions are scattered around the city with tailor-made loan products.

Want to meet your personal needs? Apply for a personal loan, which is a type of credit offered by the lenders to let consumers avail several purposes such as travelling abroad, buying consumer durables or cars, getting funds for medical emergencies, etc.

Top Banks Offering Personal Loans in Lucknow

Bank NameBank NameProcessing Fee
State Bank of India (SBI)10.35% - 14.75%NIL-1% of the Loan Amount + GST
HDFC Bank10.75% - 21.45%NIL-2.50% of the loan amount + GST
ICICI Bank10.99% - 18.49%₹999-2.25% of the loan amount + GST
Axis Bank12.00% - 24.00%1.50%-2.00% of the loan amount + GST
Punjab National Bank9.95% - 13.50%0.35% of the loan amount, subject to a minimum of ₹2,500 and maximum of ₹15,000
Bank of India11.50% - 13.50%2% of the loan amount
Bank of Baroda10.50% - 15.50%2% of the loan amount, subject to a minimum of ₹1,000 and maximum of ₹10,000
Central Bank of India11.00% - 11.05%₹500 + GST
IDBI Bank9.65% - 14.00%As applicable by the bank

Personal Loan Interest Rates in Lucknow

ParticularsDetails
Interest Rate9.25% - 33.00%
Processing Fee1%-2.50% of the loan amount plus service tax, if any
Prepayment/Part-payment Charges3%-5% of the principal outstanding
Tenure/Repayment1-5 years
Lowest EMI₹ 2,204-2,935

Personal Loan EMI Calculator in Lucknow

Want to calculate your EMIs but don’t know how to do the same? Well, the simplest and fastest way is to use a personal loan EMI calculator online. This smart tool after taking into account-Loan Amount, Tenure and Interest Rate calculates the EMIs, Interest Outgo and Total Amount Payable on a personal loan. It fetches the values for you in just a few seconds, hence making your personal loan journey a hassle-free experience.

For your better understanding, below is a table showing the calculations of a loan amount of ₹2 Lakh, taken for a tenure of 5 years at an interest rate of 12.45% per annum.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 2,00,00012.45%1₹ 17,812₹ 13,743₹ 2,13,743
₹ 2,00,00012.45%2₹ 9457₹ 26,963₹ 2,26,963
₹ 2,00,00012.45%3₹ 6686₹ 40,693₹ 2,40,693
₹ 2,00,00012.45%4₹ 5311₹ 54,931₹ 2,54,931
₹ 2,00,00012.45%5₹ 4495₹ 69,670₹ 2,69,670

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

YearPrincipalInterestBalance Amount
1₹ 30,749₹ 23,185₹ 1,69,250
2₹ 34,803₹ 19,130₹ 1,34,446
3₹ 39,393₹ 14,541₹ 95,053
4₹ 44,587₹ 9347₹ 50,466
5₹ 50,512₹ 3468₹ 0

Eligibility Criteria

ParticularsSalariedSelf-employed
AgeMinimum of 21 years at the time of loan application

Maximum of 58 years by the time loan matures
Minimum of 24 years at the time of loan application

Maximum of 65 years by the time loan matures
IncomeA minimum net monthly income of ₹ 20,000 is neededA minimum net annual income of ₹ 1,00,000 is needed
StabilityA minimum work experience of 1 year is neededA 3-year continuation in the same line of business is needed

Documents Required

  • 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

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  • Personal Loan Interest Rates April 2020
    Bajaj Finserv10.99% - 16.00%
    Fullerton India14.00% - 33.00%
    HDFC Bank10.75% - 21.45%
    ICICI Bank10.99% - 18.40%
    IndusInd Bank10.99% - 16.00%
    Kotak Bank10.99% - 20.99%
    RBL13.00% - 18.00%
    Standard Chartered Bank10.99% - 18.00%
    Tata Capital10.99% - 18.00%