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Instant Online Personal Loan in Lucknow

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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.

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Group 12261  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

Group 12265  Get ready with Documents
PAN & Aadhaar Card, Latest 3 month Bank statement, Two latest salary slip / latest Form 16, Cancelled Cheque

Group 12264  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 Lucknow

 

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

Apply Now

ICICI 

11.25% to 22.00% per annum

Up to 20 Lakh

Up to 5 Years

Up to 2.25% of loan amount+GST

Apply Now

HDFC

10.75% to 21.30% per annum

Up to 15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount

Apply Now

Axis Bank

12%-24% per annum

Up to 15 Lakh

Up to 5 Years

As applicable by the bank

Apply Now

Kotak Bank

10.99%-24% per annum

Up to Rs.15 Lakh

Up to 5 Years

Upto 2.50% of loan amount + GST

Apply Now

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

Apply Now

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

Apply Now

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 Lucknow

 

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 Eligibility in Lucknow 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 Lucknow?

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 Lucknow?

Online is the best mode to apply for a personal loan in Lucknow as the process is quite simple and quick. To get an instant loan, 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 Trivandrum

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 Lucknow

If you are looking for personal loans in Lucknow, 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 Lucknow. 

 

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 Lucknow

To enjoy an instant personal loan in Lucknow, 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

The best personal loan in Lucknow 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 availing the loan from your lender. 

 

Apply for Personal Loan in Lucknow

Lucknow is famous for being the eleventh most populous city and the twelfth most populous urban agglomeration of India. Being a multicultural city, Lucknow is also a growing IT hub with multiple software and IT companies’ residing in the city. The city has potential in the handicrafts sector and accounts for 60 percent of total exports from the state. With its fast-growing economy derived from various sectors, multiple banks and NBFCs are expanding their business in Lucknow by providing multiple credit options to their customers in Lucknow.

To get an instant approval on your loan application, a decent credit history, adequate monthly salary and minimum age are important. After you apply for a personal loan, your credit report containing your credit history and your final credit score is reviewed by the lender. Thus, if you have a good credit score, lenders would give you a personal loan at low-interest rates.

Feature & Benefit Of Personal Loan

The Best feature and benefit Of a Personal loan 

Instant Approval: Personal loan in Lucknow 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 Lucknow with an instant approval. Always try to improve  your eligibility 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 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 Lucknow 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.

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Documents Required For Personal Loan

Mentioned are the personal loan documents for salaried and self-employed.

 

 

Group 13142 Complete Online Application

Fillup the Online loan Application in just 2 minutes

 

Group 13143Provide Identity Proof

Voter id/ Passport/ Driving License / Aadhaar Card

 

Group 13144 Address Proof

Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card

 

Group 13145Bank Statement

Latest 3 Months Bank Statement or Passbook

 

Group 13147Income Proof

For Salaried – Latest 3-month Salary Slip

                    For Self Employed –  ITR and Current Bank Statement of 3 months

Frequently Questions

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What is the minimum and maximum loan amount for salaried people?

The loan amount generally varies from lender to lender and also depends on your eligibility criteria like credit score, borrowing history, income, and repayment capacity. Though the minimum loan amount is Rs.1,00,000 and maximum is Rs.25 lakh for salaried people.

Do I have to pledge any collateral in order to secure a personal loan?

No collateral or security is required for obtaining a personal loan.

My personal loan application is rejected even though I have a good credit score. Why?

Your loan amount is taken into consideration while sanctioning the loan application. If your loan amount is a small percentage of your annual income, then your loan application will be approved quickly. If your loan amount is a high percentage of your annual income, then lenders might not be confident about your repayment capacity and might reject your loan application or sanction the loan amount at unfavorable interest rates.

How do I repay the loan?

You can repay the loan amount in convenient EMI (Equated Monthly Instalments) which is the monthly amount you need to pay your lender towards servicing your personal loan—interest included.

I have a low cibil score. Would I be eligible for a personal loan?

It is best to improve your credit score. If your credit score is low, it is advisable to take time to improve it before applying for a personal loan. This would help avoid the possibility of rejection which would lead to further damage to your credit score, or unattractive interest rates.

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