Personal Loan in Noida

Highlights

  • Living in Noida and needing a personal loan to meet your financial needs?
  • Read this page that tells you the lenders that offer personal loans to people residing in this modern city

New Okhla Industrial Development Authority, or commonly known as Noida, is a destination of many top-notch IT as well as financial companies. With a wide range of leading banks and NBFCs, this city leaves no stone unturned in fulfilling your financial needs with a personal loan in case you do not have adequate savings.

You can avail of this unsecured loan without any collateral and enjoy easy repayment options. Also, minimal documentation is required for getting a personal loan in this top city. If you meet the eligibility criteria, you can get the fastest approval on your personal loan application.

Apply Personal Loan @ 10.75%* Rate

But do you know the number of branches that lenders have in Noida for this loan facility? No! We can help you know the same, along with several other critical details. So, keep reading!

Top Banks Offering Personal Loans in Noida

List of BanksPersonal Loan Interest RatesProcessing feeMain Branch AddressTotal Number of Branches in Chennai
HDFC Bank10.75% - 21.30%NIL - 2.50% of the loan amount plus applicable GSTCentral Market, Jain Rd, B Block, Sector 50, Noida, Uttar Pradesh 20130347
ICICI Bank10.75% - 17.50%INR 1,999 - 2.25% of the loan amount GSTA 3 13, Sector 110, Noida, Uttar Pradesh 20130421
IDFC First Bank10.99% - 22.00%2.00% - 2.50% of the loan amountPlot No A/34, 1st Floor, Block H/1
Sector 63
Noida - 201301
-
YES BANK10.45% OnwardsUp to 2.50% of the loan amount subject to a minimum of INR 999 + taxesGround floor A - 356, sector 19 Noida Uttar Pradesh - 20130113
IndusInd Bank11.00% Onwards1% - 3% of the loan amount + GSTB - 11, Vardhman Plaza, Gautam Budh Nagar, sector 16 Noida16
RBL Bank17.50% - 26.00%2% - 2.5% of the loan amountground floor, b 258, sector -50, noida -201301-
Kotak Mahindra Bank10.75% - 17.99%0.99% - 2.25% of the loan amount + GSTKotak Mahindra Bank Ltd. Ground floor, H - 1/A - 16, Sector 63, Noida - 2013014
Fullerton India14.00% - 24.00%0% - 6.00% of the loan amountSecond Floor, B-16, Sector-16, Gautam Buddha Nagar, Noida, Uttar Pradesh - 201 3011
State Bank of India (SBI)9.60% - 13.60%Nil - 1% of the Loan Amount + GSTB-19, Sector 30, Dist.Gautam Budh Nagar, Noida, Uttar Pradesh 20130138
Bank of Baroda10.10% - 15.20%2% of the loan amount
Minimum: INR 1,000
Maximum: INR 10,000
Shop No.334-338, Ganga Shopping Complex, Indraprastha, Sector 29, Noida, Uttar Pradesh 2013019
Canara Bank10.20% - 13.90%0.5% of the loan amount + GSTSector 6, Noida Complex, Noida - 20130111
Standard Chartered Bank11.00% - 15.00%2.00% - 2.50% of the loan amount + GSTNoida branch, plot. K - 3, Brahm Datt Tower, Ground and first floor, sector - 18, Noida - 2013011
Axis Bank12.00% - 24.00%1.50% to 2.00% of the loan amount + GSTK-21 & K-22, 2nd Floor, Captain Vijyant Thapar Marg, K Block, Sector 18, Noida, Uttar Pradesh 2013019

Note – The number of branches which is shown against lenders is approximate and as per the data till August 5, 2020. Also, the total number of branches in Noida for some lenders could not be found, so the “-” sign is marked in the respective space.

Personal Loan EMI Calculator Noida

You can use the Personal Loan EMI Calculator and generate your EMI amount before the repayment. It helps you manage the loan payments. And you can also save on your interest outgo as you know personal loan interest rates are quite high compared to secured loans. To use an EMI calculator, you just need to insert details like loan amount (P), interest rate (r) and tenure (n). The calculator functions according to the mathematical formulae P × r × (1 + r)n/((1 + r)n – 1).

For example, you need a loan amount of INR 5 lakh for a medical emergency. And you thought of getting a personal loan to meet your expenses. Before you apply for the loan, you estimate how much EMI you need to pay for the loan if the interest rate is 11.25% per annum. Check out the table that shows the repayment estimates for you.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 5,00,00011.25%1₹ 44,249₹ 30,990₹ 5,30,990
₹ 5,00,00011.25%2₹ 23,362₹ 60,688₹ 5,60,688
₹ 5,00,00011.25%3₹ 16,429₹ 91,430₹ 5,91,430
₹ 5,00,00011.25%4₹ 12,984₹ 1,23,210₹ 6,23,210
₹ 5,00,00011.25%5₹ 10,934₹ 1,56,019₹ 6,56,019

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

YearPrincipalInterestBalance Amount
1₹ 78,942₹ 52,262₹ 4,21,057
2₹ 88,295₹ 42,908₹ 3,32,762
3₹ 98,757₹ 32,447₹ 2,34,005
4₹ 1,10,458₹ 20,745₹ 1,23,546
5₹ 1,23,648₹ 7657₹ 0

Personal Loan Eligibility

To apply for a personal loan in Noida, you need to meet the eligibility criteria first. What is the eligibility criterion for personal loans in Noida? Personal loans are unsecured loans, so you don’t need to pledge collateral to get them. The lender provides you a personal loan based on your income, age, employment status, job history, residing city, and CIBIL score. If you meet these factors only then you can borrow a personal loan in Noida. Check out the table below and know what is the eligibility criterion of a personal loan in this city.

For Salaried Employees

Eligibility CriteriaDetails
Age21 to 60 years
Monthly IncomeINR 15,000 to INR 50,000 (changes from one lender to another)
Overall Work ExperienceA minimum of 2 to 3 years
Work Stability with Current EmployerA minimum of 1 year

For Self-employed Individuals

Eligibility CriteriaDetails
Age24 to 65 years
Annual IncomeINR 1,80,000 to INR 2,00,000
Overall Experience in the Business/ProfessionA minimum of 2 to 3 years

Eligibility Calculator

There are lenders that show the personal loan eligibility calculator on their website. The device generates the loan amount. You just need to insert a few details like-

  • Monthly income
  • Monthly expenses
  • Credit card bills
  • Current loan EMIs
  • Employer name (if salaried)

Documents Required for Personal Loan in Noida

  • 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

Balance Transfer

You can transfer your personal loan in Noida from one lender to another using the balance transfer facility. With this, your outstanding loan balance is transferred to the new lender and EMI starts at a new rate of interest. What benefits does it provide? With the balance transfer of your personal loan, you can save on your EMI payment and reduce the interest outgo. When to do a balance transfer? If you are unable to manage the EMI payments due to the high EMI, it’s time for you to switch the lender. See the example and know how balance transfer will help in your loan repayment.

Suppose you borrowed INR 10 lakh personal loan. And due to the high rate of interest of 18% per annum, you are finding it difficult to pay your EMIs. So, after 2 years of its payment, you find a lender that provides an interest rate of 12% per annum. Look at the table below and know how much you’ll save after the balance transfer of your personal loan.

ParticularsDetails
Original Loan AmountINR 10,00,000
Interest Rate18%
Tenure5 Years
EMI @ 18%INR 25,393
Estimated Interest Outgo @ 18%INR 5,23,606
Interest Paid Till 2 YearsINR 3,11,842
Outstanding Balance at the End of 2nd YearINR 7,02,399
EMI @12.00% for the Remaining 3 YearsINR 23,330
Interest @12.00% Over 3 YearsINR 1,37,470
Interest Paid Till Now + Interest Payable Over the Next 3 yearsINR 4,49,312 (3,11,842+1,37,470)
Estimated Savings in Terms of EMIINR 2,063 (25,393-23,330)
Estimated Savings in Terms of Interest PaymentINR 74,294 (5,23,606-4,49,312)

Apply for a Personal Loan in Noida

To borrow a personal loan, you just need to follow a simple procedure. There are two ways by which you can borrow a personal loan.

Online Personal Loan

  • Go to the official website of the bank or NBFC you want to apply at
  • Apply for a Personal Loan by going to its products section
  • Click to ‘Apply Now‘
  • Fill the form by mentioning your personal details
  • Submit the form and upload the necessary documents

Offline Personal Loan

  • Visit your nearest bank or NBFC branch
  • Ask for a personal loan from the representative
  • You will get an application form
  • Fill up the form
  • Submit the form with passport size photographs and necessary documents

After that, you just need to wait for the lender to respond. If all goes well, the loan would be disbursed to your bank account within 7 days of the approval.

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  • Personal Loan Interest Rates December 2020
    Fullerton India14.00% - 24.00%
    HDFC Bank10.75% - 21.45%
    ICICI Bank10.75% - 17.50%
    IndusInd Bank11.00% - 23.00%
    Kotak Bank10.99% - 20.99%
    RBL17.50% - 26.00%
    Standard Chartered Bank11.00% - 15.00%
    Tata Capital10.99% - 19.75%