Instant Online Personal Loan in Vadodara
We deliver financial happiness to our customers. 100% Online Process | No Branch Visits | No Hidden Charges | Minimum Documentation Process
Get Personal Loan in |
Users Rating (4.5/5)
100K+ Registered User & Every Minutes 30 New User Registration
How it Works!
Quikkloan made the effortless process for the customers. Apply Personal Loan Online, Compare the best personal loan offer from the various Banks & NBF, upload the documents online, get disbursal in 24Hrs.
Eligibility Criteria
Salaried Individuals between 21 to 58 years, Minimum Net Monthly Salary of Rs. 20,000 and Employed for at least 1-2 years
Get ready with Documents
PAN & Aadhaar Card, Latest 3 month Bank statement, Two latest salary slip / latest Form 16, Cancelled Cheque
Get Disbursal in 1 Day*
Personal Loan up to 25 Lakh, Instant approval and Fast Disbursal through Partnered Banks / NBFC, No Collateral and Minimum Documentation
Top Banks
Offering Lowest Personal Loan Interest Rates in Indore
|
Lenders |
Interest Rates |
Loan Amount |
Tenure |
Processing Fee |
Apply Online |
|
SBI |
9.60% to 13.60% per annum |
Up to 15 Lakh |
Up to 5 Years |
Nil – 1% of the Loan Amount + GST |
|
|
ICICI |
11.25% to 22.00% per annum |
Up to 20 Lakh |
Up to 5 Years |
Up to 2.25% of loan amount+GST |
|
|
HDFC |
10.75% to 21.30% per annum |
Up to 15 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount |
|
|
Axis Bank |
12%-24% per annum |
Up to 15 Lakh |
Up to 5 Years |
As applicable by the bank |
|
|
Kotak Bank |
10.99%-24% per annum |
Up to Rs.15 Lakh |
Up to 5 Years |
Upto 2.50% of loan amount + GST |
|
|
YES Bank |
10.99% per annum |
Up to Rs.40 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount +GST |
|
|
Tata Capital |
10.99% per annum |
Up to Rs.25 Lakh |
Up to 6 Years |
Up to 2.50% of the loan amount+GST |
|
|
IDFC Bank |
As applicable by the bank |
Up to Rs.25 Lakh |
Up to 5 Years |
3.50% of the loan amount |
|
|
IndusInd Bank |
11.25% per annum |
Up to Rs.15 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount+GST |
|
|
DCB Bank |
10.22% per annum (one year MCLR) |
Up to Rs.5 Lakh |
Up to 5 Years |
2% of the loan amount+GST |
|
|
Bajaj Finserv |
12.99% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 4.13% of the loan amount+GST |
|
|
Aditya Birla Finance |
14%-26% per annum |
Up to Rs.50 Lakh |
Up to 5 Years |
Up to 2% of the loan amount+GST |
|
|
IIFL |
16% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 2% of the loan amount+GST |
|
|
HDB Financials |
Up to 36% per annum |
Up to Rs.20 Lakh |
Up to 5 Years |
Up to 2 % of the loan amount |
|
|
Fullerton India |
12.99%-36% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 3% of the loan amount |
Apply Now |
Personal Loan Eligibility in Vadodara
|
Eligibility Criteria |
Salaried |
Self-employed |
|
Minimum Age |
21 |
24 |
|
Maximum Age |
58 |
65 |
|
Minimum Income |
Rs.35,000 monthly |
Rs.2 lakh(annual) |
|
Credit/Cibil Score |
Above 750(out of 900) |
Above 750(out of 900) |
|
Minimum Job/Business Stability |
1-2 Years |
2-3 Years |
|
Minimum Work/Business Experience |
1-2 Years |
3 Years |
|
Minimum Profit After Tax |
NA |
Rs.1-2 lakh(annual) |
Personal Loan In Vadodara At A Glance
|
Particulars |
Details |
|
Interest Rates |
Starting at 10.99% per annum |
|
Loan Amount |
From Rs 1,00,000-Rs.25,00,000 |
|
Tenure |
Up to 5 Years |
|
Processing Fee |
1.50%-2.50% of the loan amount+GST |
|
Minimum Monthly Income |
Rs.35,000 |
|
Cibil Score |
Above 750 (out of 900) |
|
Prepayment/Foreclosure Charges |
2%-6% of the principal outstanding +GST |
Personal Loan in Vadodara?
To get an instant loan in Vadodara, you can apply online. When it comes to applying online, the process is really easy and fast hence you can conveniently apply for a loan. Also, an online process comes with a lot of comfort and convenience, wherein you can apply for the required loan amount instantly. Also, the loan amount will be disbursed quickly in your respective bank accounts hence all your financial needs can easily be fulfilled.
This loan comes in handy to meet multiple needs such as:
- Medical Emergencies
- Wedding Expenses
- Debt Consolidation
- Home Renovation/Extension
- Higher Education
- Travelling Expenses
- Purchasing High End Consumer Durables Value
How to Apply for Personal Loan in Vadodara?
To get an instant loan in Vadodara, you can apply online. When it comes to applying online, the process is really easy and fast hence you can conveniently apply for a loan. Also, an online process comes with a lot of comfort and convenience, wherein you can apply for the required loan amount instantly. Also, the loan amount will be disbursed quickly in your respective bank accounts hence all your financial needs can easily be fulfilled.
Steps to Apply for Personal Loan in Vadodara
Step 1: Fill Loan Query Form
Step 2: Get the Quotes
Step 3: Submit the Required Documents
Step 4: Get Instant Approval & Disbursal
CIBIL Score Required for Personal Loan in Vadodara
Your personal loan is surely incomplete without a cibil score. In the case of a personal loan, a score of above 750 out of 900 is considered to be fair enough in grabbing the best personal loan deal. Personal loan being an unsecured loan is offered by many lenders on just one condition,i.e. good cibil score. Make sure you have a good score and always maintain the same. After all, a good score is an indication that a borrower is trustworthy and has a fair repayment record hence will repay the loan without any default.
Thus, in the case of an unsecured personal loan, a good three-digit numeric summary is the only eligibility factor to rely on. Thus, lenders always keep an eye on your score just to be sure about the personal loan repayment.
Minimum Salary Required to Avail Personal Loan in Vadodara
The minimum monthly income that one should have is Rs.35,000. Make sure your monthly income should meet the required eligibility criteria set by the lender. Though, different lenders have different criteria but people living in Vadodara should have a minimum mentioned above. With a good monthly income, it is absolutely easy to manage your other monthly expenses hence you can save a lot to repay your loan. This is the reason why lenders always check the monthly income of a borrower just to be doubly sure about the repayments. So, before you apply for a loan, do check the eligibility criteria of a lender as your income should meet the same.
Personal Loan EMI Calculator
Confused about your EMIs? Don’t know the exact amount of monthly installments you need to pay to the lender? Well, the answer to all your questions is a personal loan EMI Calculator. Always available online, this device with its well-designed algorithms allows you to know the accurate calculations of not only your EMIs but Interest Outgo and Total Amount Payable also. The tool functions so accurately that within a few minutes, you would be able to know the accurate values of your EMIs.The tool takes into account:
- Loan Amount
- Tenure
- Interest Rate
Soon after these values are inserted into the device, it will fetch the right values, ensuring that you have a calculative personal loan decision.
Let’s understand the calculation with the help of an example below.
Suppose, an individual has taken a personal loan of Rs.18 lakh taken for a tenure of 5 years at an interest rate of 15.60% per annum. Now what would be his EMIs calculation? A personal loan calculator online would give the exact answer.
Table Showing EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
|
Loan Amount (in Rs.) |
Interest Rate(per annum) |
Tenure (in Years) |
EMI (in Rs.) |
Total Interest Amount(in Rs.) |
Total Amount=Principal +Interest (in Rs.) |
|
18,00,000 |
15.60% |
1 |
1,62,975 |
1,55,700 |
19,55,700 |
|
18,00,000 |
15.60% |
2 |
87,790 |
3,06,959 |
21,06,959 |
|
18,00,000 |
15.60% |
3 |
62,928 |
4,65,400 |
22,65,400 |
|
18,00,000 |
15.60% |
4 |
50,645 |
6,30,936 |
24,30,936 |
|
18,00,000 |
15.60% |
5 |
43,391 |
8,03,452 |
26,03,452 |
Table Showing Principal, Interest, and Balance Amount
|
Year |
Principal (in Rs.) |
Interest(in Rs.) |
Balance Amount(in Rs.) |
|
1 |
2,57,808 |
2,62,882 |
15,42,191 |
|
2 |
3,01,029 |
2,19,660 |
12,41,162 |
|
3 |
3,51,498 |
1,69,192 |
8,89,663 |
|
4 |
4,10,427 |
1,10,263 |
4,79,236 |
|
5 |
4,79,793 |
41,454 |
0 |
Personal Loan Fee & Charges
With minimal fee and charges personal loan makes an ideal financial instrument to fulfill your needs. And, while availing this loan, there are certain charges like-processing fee, prepayment and part payment you need to bear. Talking about a processing fee it is a one-time, non refundable fee that an applicant needs to pay to the lender. While, prepayment and part payment are the charges which come into the picture when a borrower chooses to either prepay or part pay the loan.
Apply for Personal Loan in Vadodara
Vadodara, also known as Baroda, is the third largest city in the state of Gujarat. With its rich historical background, the city also aspires to become an innovative hub for manufacturing by strengthening its economy. Considering the rapid growing economy, Banks and NBFCs are expanding their business by providing multiple types of loans to the borrowers.
To get an instant approval on your personal loan application in Vadodara, you must have a decent credit score along with a good credit report.
Feature & Benefit Of Personal Loan
The Best feature and benefit Of a Personal loan
Lowest Interest Rates: This unsecured loan comes with attractive personal loan interest rates.With lower rates you can enjoy a hassle-free loan journey as your monthly installments would be lower. Yes, interest rates and EMIs are directly linked hence if rates are lower, your personal loan burden is also reduced.
Instant Approval & Disbursal: Your personal loan is quickly approved and disbursed by the lenders. Once your eligibility matches with the lender, expect to get speedy approval. And, soon after your loan profile is approved and you have submitted the required documents, the loan amount would be disbursed quickly in your respective bank account.
Easy Process: When it comes to applying for a personal loan in Vadodara, you simply need to follow a few simple steps online. The online process is really easy and within a few minutes, you would be able to apply online for a loan, catering your financial needs.
Complete Credit Assessment: On websites like Quikkloan, you can have a complete credit assessment of your loan profile. Yes, your loan profile will be thoroughly evaluated on many parameters, followed by an assessment. Thus, which actually helps in meeting the right profile with the right candidate, reducing the chances of personal loan default.
Flexible Loan Repayment Tenures: With easy personal loan repayments, you can smoothly repay your personal loan. Yes, with flexible tenures of up to 5 Years, it would not be a hassle anymore for you to repay your loan in monthly installments. With flexible tenures, your EMIs have also become flexible hence less burden will be on your shoulders as far as repayment is concerned.
Documents Required For Personal Loan
Mentioned are the personal loan documents for salaried and self-employed.
Complete Online Application
Fillup the Online loan Application in just 2 minutes
Provide Identity Proof
Voter id/ Passport/ Driving License / Aadhaar Card
Address Proof
Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card
Bank Statement
Latest 3 Months Bank Statement or Passbook
Income Proof
For Salaried – Latest 3-month Salary Slip
For Self Employed – ITR and Current Bank Statement of 3 months
Frequently Questions
How much I can avail in a personal loan?
A loan amount of between Rs.1,00,000 to Rs.25 lakh can be availed by an individual to meet various personal needs.
In how many years I can repay my personal loan?
A borrower can repay his loan in tenure of up to 5 years.
How Can I repay my loan?
The repayment of the loan can be done via EMIs. Stands for Equated Monthly Installments, a borrower can easily repay his loan via EMIs.
What happens if I miss my EMIs?
If you miss an EMI, a late payment charge will be applicable and penal interest might be charged. However, missing an EMI puts you in a defaulter’s list, which of course will harm your financial journey.
How my loan amount will be disbursed?
Soon after the loan amount is approved, the amount gets disbursed instantly in your respective bank account.
Do I have to pledge any collateral in order to secure a personal loan?
Generally no collateral or security is required for obtaining a personal loan.
Are there any additional charges associated with a personal loan?
Yes. Almost all banks charge a processing fee ranging from 2% to 2.5% of the amount you wish to borrow, and the fee is generally deducted from the amount disbursed to you.
What are the Types of Personal Loan Interest Rates That Lenders Offer to Borrowers?
Personal loans can be offered on a flat and reducing balance basis. In a flat rate, the interest will be charged on the principal outstanding all the time irrespective of which stage the loan is in. Whereas, in a reducing balance, the interest is charged on the principal outstanding left after the EMI payment.
Can I get the balance transfer facility in my personal loan?
Yes. It depends on the bank. Some banks offer the balance transfer facility if the customer has paid 12 EMIs. Check with your bank before applying for the loan if they offer the same.