Personal Loan in New Delhi

The capital City Delhi has people from relatively all walks of life. There are people with very less, medium and high income in this city. But what’s common about them is the personal loan they take to meet their financial needs in this fast  paced city. However, there are some who accept the loan deal without doing their due diligence. What happens then is that the loan becomes more of a burden for them. To ensure the loan meets your needs by getting into your budget, you should choose from the best personal loan deals highlighted in this page.  So keep reading and make the right choice!

Personal Loan

Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility

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    Top Banks Offering Personal Loan in New Delhi

    Bank NameRate of InterestProcessing Fee
    State Bank of India (SBI)9.60% - 13.60%NIL-1% of the Loan Amount + GST
    HDFC Bank10.75% - 21.30%NIL-2.50% of the loan amount + GST
    ICICI Bank10.75% Onwards₹999-2.25% of the loan amount + GST
    Axis Bank15.50% - 24.00%1.50%-2.00% of the loan amount + GST
    Punjab National Bank8.80% - 11.65%0.35% of the loan amount, subject to a minimum of ₹2,500 and maximum of ₹15,000
    Bank of India10.35% - 12.35%2% of the loan amount
    Bank of Baroda10.10% - 15.10%2% of the loan amount, subject to a minimum of ₹1,000 and maximum of ₹10,000
    Central Bank of India9.85% - 10.20%₹500 + GST
    IDBI Bank9.20% - 11.95%As applicable by the bank

    Personal Loan Interest Rates in New Delhi

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

    Eligibility Criteria

    The basic eligibility criterion for personal loans 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

    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

    Personal Loan Calculator

    There is no better medium of knowing your EMIs than using a personal loan EMI Calculator online. That’s Right! This smart tool lets you know the exact calculations of your monthly installments in the best way. The moment you feed-Tenure, Interest Rate and Loan Amount in the device, it fetches the values for you in just a few seconds. In fact, you can also know your Interest Outgo and Total Amount Payable towards a loan with the help of using this device.

    For your better understanding, below is a table showing the calculations for 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

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 5,00,00011%1₹ 44,191₹ 30,290₹ 5,30,290
    ₹ 5,00,00011%2₹ 23,304₹ 59,294₹ 5,59,294
    ₹ 5,00,00011%3₹ 16,369₹ 89,297₹ 5,89,297
    ₹ 5,00,00011%4₹ 12,923₹ 1,20,293₹ 6,20,293
    ₹ 5,00,00011%5₹ 10,871₹ 1,52,273₹ 6,52,273

    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

    About Personal Loan in New Delhi

    personal loan is an unsecured loan which is easy to avail and comes to you with easy documentation. There are many banks and NBFCs that are offering a great combination of low-interest rate and a higher loan amount to people living here. With the Goods and Services Tax (GST) in place, the service charges like processing fees (one-time payment) and prepayment charges have increased marginally from the pre-GST era. From now onwards, you will have to pay the processing fees inclusive of 18% GST rate (standard rate).

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  • Personal Loan Interest Rates July 2020
    Fullerton India14.00% - 33.00%
    HDFC Bank10.75% - 21.45%
    ICICI Bank10.75% - 18.49%
    IndusInd Bank11.25%
    Kotak Bank10.99% - 20.99%
    RBL17.50% - 24.00%
    Standard Chartered Bank12.00% - 17.00%
    Tata Capital10.99% - 18.00%