Instant Online Personal Loan in Jamshedpur
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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 Jamshedpur
|
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 |
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ICICI |
11.25% to 22.00% per annum |
Up to 20 Lakh |
Up to 5 Years |
Up to 2.25% of loan amount+GST |
|
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HDFC |
10.75% to 21.30% per annum |
Up to 15 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount |
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Axis Bank |
12%-24% per annum |
Up to 15 Lakh |
Up to 5 Years |
As applicable by the bank |
|
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Kotak Bank |
10.99%-24% per annum |
Up to Rs.15 Lakh |
Up to 5 Years |
Upto 2.50% of loan amount + GST |
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YES Bank |
10.99% per annum |
Up to Rs.40 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount +GST |
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Tata Capital |
10.99% per annum |
Up to Rs.25 Lakh |
Up to 6 Years |
Up to 2.50% of the loan amount+GST |
|
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IDFC Bank |
As applicable by the bank |
Up to Rs.25 Lakh |
Up to 5 Years |
3.50% of the loan amount |
|
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IndusInd Bank |
11.25% per annum |
Up to Rs.15 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount+GST |
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DCB Bank |
10.22% per annum (one year MCLR) |
Up to Rs.5 Lakh |
Up to 5 Years |
2% of the loan amount+GST |
|
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Bajaj Finserv |
12.99% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 4.13% of the loan amount+GST |
|
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Aditya Birla Finance |
14%-26% per annum |
Up to Rs.50 Lakh |
Up to 5 Years |
Up to 2% of the loan amount+GST |
|
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IIFL |
16% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 2% of the loan amount+GST |
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HDB Financials |
Up to 36% per annum |
Up to Rs.20 Lakh |
Up to 5 Years |
Up to 2 % of the loan amount |
|
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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 Jamshedpur
|
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 Jamshedpur 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 Jamshedpur?
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 Jamshedpur?
To get an instant loan in Jamshedpur, you simply need to apply online. Yes, the online process is really simple, secure yet time-saving hence allows you to avail the loan without any hassle. In just a few easy steps, you would be able to apply for the credit and get the same in your respective bank account. After sending an application online, you’ll get the approval if your eligibility matches with the lender. And, soon after the same, you would receive the required loan amount into your bank account hence can easily fulfill your multiple needs.
Steps to Apply for Personal Loan in jamshedpur
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 Jamshedpur
If you are looking for personal loans in Jamshedpur, 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 Jamshedpur.
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 Jamshedpur
To enjoy an instant personal loan in Jamshedpur, 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:
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- 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
The best personal loan in Jamshedpur comes with certain fees and charges that an applicant needs to give away at the time of availing the loan. Yes, processing fee, prepayment and part payment are some of the common charges that a borrower needs to pay to the lender during his personal loan journey. Make sure you check these charges prior to availing of the loan from your lender.
Apply for Personal Loan in Jamshedpur
Jamshedpur being the National Capital is not only famous for its architectural beauty but also for its lively spirit. This is the reason that people from different corners of India come to Jamshedpur. And, this capital city welcomes them in every way, especially by providing them employment. Yes, being a hub of many political, cultural and banking activities, Jamshedpur is a hot-spot of many multinational companies with their headquarters located here. A majority of the city’s population includes youth, salaried professionals working in top multinational companies. Whereas, Jamshedpur is a centre of many businesses, textiles and industries. Thus, a large number of businessmen can also easily be found here. And, in case an individual is in need of extra funds to meet their business or personal financial needs, with a plethora of banks, NBFCs and financial startups they can avail the funds anytime.
Yes, to cater all your financial needs a personal loan in Jamshedpur can easily be availed online. The lenders offer this unsecured loan to the needful online with instant approval and disbursal. In just a few simple steps, the required funds will reach out to your bank account, ensuring that you have a hassle-free loan journey.
Feature & Benefit Of Personal Loan
The Best feature and benefit Of a Personal loan
Instant Approval: Personal loan in Jamshedpur comes with instant approval. Yes, if a borrower is good on eligibility, it is obvious for him/her to expect the instant cash loan in Jamshedpur with 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 a speedy loan amount in the bank account.
No Collateral/Security: A personal loan in the capital city 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 this unsecured credit is really simple and quick.
Multi Purpose Loan: A borrower can avail an urgent loan in Jamshedpur 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
How is a personal loan repaid?
The personal loan can be repaid by paying the loan amount back to the bank in the form of Equated Monthly Instalments (EMIs). A borrower can opt for an auto-debit payment, wherein the EMI amount will automatically be debited from your bank account.
Are there any additional charges that an applicant has to pay when he/she gets a personal loan from a bank?
Yes, there are a couple of different additional charges. Most banks charge an applicant an interest fee that ranges from 2% to 2.5% of the total amount that they wish to borrow. The fee is deducted from the amount that has to be disbursed to you.
Can I receive Tax Benefits on my personal loan?
Unless the personal loan is used for a home renovation project, tax benefits are not associated with personal loans. You can, however, avail tax benefits under Section 24 of the Income Tax Act on the interest that is paid on the loan but not on the principal amount that is paid.
What are the Factors That Can Influence Personal Loan Interest Rates?
These factors include your income, repayment potential, credit score, etc.
Is the GST Levied Over the Interest Rate on a Personal Loan?
No, the Goods and Services Tax (GST) is not levied over the interest rate on a personal loan.
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.
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.