Instant Online Personal Loan in Chandigarh
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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 Chandigarh
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 Chandigarh
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 Chandigarh 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 Chandigarh?
A personal loan is a short-term loan which could be used for any legitimate purpose. You won’t be required to pledge any form of collateral or security. It can be used to meet immediate personal expenses with instant approval and disbursal of the loan amount. A personal loan has several advantages including relatively simple documentation, flexible loan tenures and no restrictions on how you use the money.
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 Chandigarh?
Online mode is the easiest way to apply for a personal loan in Chandigarh. The process is really simple, fast yet secure hence allows you to enjoy a hassle-free personal loan journey. The process starts after receiving your online application and soon after your eligibility gets matched with the lender, you would get instant approval and disbursal of the loan amount in your respective bank account. Hence, all your financial needs can easily be fulfilled..
Steps to Apply for Personal Loan in madhurai
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 Chandigarh
If you are looking for personal loans in Delhi, make sure your cibil score should be above 750 out of 900. Yes, a borrower should always look after his credit score while availing an unsecured loan, especially personal loan. That’s Right! A borrower’s creditworthiness can be best known by his cibil score as then only the lenders will decide whether to offer him the loan or not. The higher score you have, the higher probability of you enjoying the lower personal loan interest rates in Delhi.
Afterall, a good score is a reflection of a borrower’s fair credit history, which means he can be trusted by the lender as far as loan repayment is concerned. A neat and clean credit history indicates that a borrower will not default on a loan based on his previous record hence the lender can take the risk and provide the loan. Thus, it is always advisable to maintain a good score so that availing a personal loan would be a smooth journey for you.
Minimum Salary Required to Avail Personal Loan in Chandigarh
To enjoy an instant personal loan in Delhi, an individual needs to earn a minimum monthly income of Rs.35,000. Whether you are a salaried or self-employed, make sure that your monthly income should meet the required eligibility criteria. Income is considered to be an important eligibility factor that lenders take into consideration before approving the loan. A higher or good income shows that an individual can manage his monthly expenses well hence would repay the loan without any default. So, make sure you meet the required minimum income criteria and get the loan with a lot of ease.
Personal Loan EMI Calculator
A big confusion is going on in your mind related to EMI? Don’t worry as a personal loan EMI calculator online takes all your worries away. This smart, easy-to-use and secure device lets you know the accurate calculations of your EMIs in the fastest manner. This tool will churn out the values for you, the moment you enter:
-
- Loan Amount
- Tenure
- Interest Rate
Soon you enter the credentials above, the device with its well-designed algorithms fetches the exact values of not only your monthly installment but Interest Outgo and Total Amount Payable also. Hence, ensures that you take a calculative decision as far as availing a loan is concerned.
Let’s take the help of an example and understand the functioning of the device below.
Suppose, a person has taken a loan of Rs. 16 lakh at an interest rate of 16.50% per annum for a tenure of up to 5 years. What would be the exact amount of EMI, he needs to give away to his lender every month? Know by looking at the EMI table below.
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.) |
16,00,000 | 16.50% | 1 | 1,45,548 | 1,46,579 | 17,46,579 |
16,00,000 | 16.50% | 2 | 78,724 | 2,89,370 | 18,89,370 |
16,00,000 | 16.50% | 3 | 56,647 | 4,39,292 | 20,39,292 |
16,00,000 | 16.50% | 4 | 45,755 | 5,96,250 | 21,96,250 |
16,00,000 | 16.50% | 5 | 39,335 | 7,60,114 | 23,60,114 |
Table Showing Principal, Interest and Balance Amount
Years | Principal (in Rs.) | Interest(in Rs.) | Balance Amount(in Rs.) |
1 Year | 2,24,498 | 2,47,524 | 13,75,501 |
2 Years | 2,64,474 | 2,07,548 | 11,11,027 |
3 Years | 3,11,568 | 1,60,454 | 7,99,458 |
4 Years | 3,67,049 | 1,04,973 | 4,32,409 |
5 Years | 4,32,942 | 39,614 | 0 |
Personal Loan Fee & Charges
With personal loan comes certain charges like processing fee, prepayment and part payment. Yes, a processing fee is something an applicant needs to pay to the lender at the time of availing the loan. It is a non-refundable and one-time fee that is mandatory of a borrower to pay to the lender. While on the other hand, prepayment and part payment charges are something which an applicant would be paying after opting for them.
Apply for Personal Loan in Chandigarh
Chandigarh, the capital of the northern Indian states of Punjab and Haryana, was designed by the Swiss-French modernist architect, Le Corbusier. His buildings include the Capitol Complex with its High Court, Secretariat and Legislative Assembly, as well as the giant Open Hand Monument. The government is a major employer in Chandigarh with three governments having their base here i.e. Chandigarh Administration, Punjab government and Haryana government. A significant percentage of Chandigarh’s population, therefore, consists of people who are either working for one of these governments or have retired from government service, mainly armed forces. And, with a large number of working salaried professionals, Chandigarh is also a city where a list of leading banks and NBFCs are available. Thus, when there is a need of instant funding, availing personal loans in Chandigarh with the help of lenders is quick and easy.
Feature & Benefit Of Personal Loan
The Best feature and benefit Of a Personal loan
Instant Approval: Personal loan in Kochi comes with instant approval. Yes, if a borrower is good on eligibility, it is obvious for him/her to expect the personal loan instant approval. Always try to be in a good eligibility shape in order to get instant approval.
Fastest Disbursals: With instant approval comes quick disbursal. Soon after approving your credit profile, the next step that lenders do is to give the fastest disbursal. With quick disbursal, one can expect to have the speedy loan amount in the bank account.
No Collateral/Security: A personal loan in Kochi can easily be availed without any collateral or security. Yes, a borrower doesn’t need to give any sort of security to the lender and can easily avail the required funds.
Minimal Documentation: A borrower can easily avail this unsecured loan with just minimal documentation. Yes, with basic KYC documents like Identity Proof, Address Proof and Income Proof, availing a personal loan is really simple and quick.
Multi Purpose Loan: A borrower can avail a personal loan for various reasons. Yes, it is a multi-purpose loan thus comes handy to meet numerous personal needs.
Hassle-free Process: The process of availing a personal loan is really simple and quick. Within a few minutes, you can expect to have an instant approval followed by a quick disbursal.
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
What is the basic eligibility criteria when applying for a personal loan?
Individuals applying for a personal loan should have a regular or stable income, should have a good credit score, and a balanced debt-to-income ratio.
What is the minimum and maximum loan amount for salaried people?
It depends on various criteria like your net annual income, your repayment behavior, your credit score and credit history. Final approval for your loan amount is at the sole discretion of your lender. However, a maximum loan amount one can get is Rs.25 lakh-30 lakh.
What is the usual tenure of a personal loan?
Personal loans have tenures ranging between 1 and 5 years.
How do I repay the loan?
You can repay the loan amount in convenient EMI (Equated Monthly Instalments)
What are the options through which I can pay my EMIs?
EMI can be paid through the following easy options:
- Through post dated cheques
- Through ECS facility, Standing Instruction to debit your Bank account.
What are the Factors That Can Influence Personal Loan Interest Rates?
These factors include your income, repayment potential, credit score, etc.
.Can I avail a joint personal loan?
Yes you can, provided that person is a close relative or a spouse. By doing so, the income will be much higher, giving you the opportunity to avail a bigger loan.
What is an EMI?
An Equated Monthly Installment (EMI) is a sum of principal and interest payable every month to the lender. Greater the rate of interest, the higher will be the EMI amount and vice-versa.