Personal Loan in Gurgaon

Unsecured
Funds
Streamlined
Process
Flexible
Repayment
Online
Disbursal
Apply For Personal Loan in Gurgaon







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A personal loan is an unsecured loan taken to meet sudden financial requirements. It is often used for various purposes, such as managing wedding expenses, covering travel fees, handling medical emergencies, consolidating debt, renovating a home, and more.
A personal loan provider in Gurgaon advances funds entirely based on the borrower's ability to repay the loan amount from his monthly income. We help borrowers with documentation and speed up the process for personal loans in Gurgaon.

Interest rates of Major Banks personal loan providers in Gurgaon;

Loan Provider Interest Rate Processing Fees Tenure Loan Amount
HDFC Bank 10.65% - 18% 0.5% - 2% of the loan amount 12-72 months ₹ 50k-30 lakhs
ICICI Bank 11.00% - 20% 1% - 2.5% of the loan amount 12-60 months ₹ 50k-25 lakhs
AXIS Bank 11.99% - 22% 2% of the loan amount 12-60 months ₹ 50k-20 lakhs
YES Bank 11.00% - 18% 0.5% - 2.5% of the loan amount 12-60 months ₹ 50k-30 lakhs
Significant features of a Personal Loan in Gurgaon.
The essential components of a Personal Loan are similar to most Banks and NBFCs, and Individual lenders add their own as per the lending policy.
  • An applicant can apply for a personal loan in Gurgaon for an amount of ₹50k to ₹ 40 lakhs as a Personal loan, depending on the eligibility criteria.
  • The tenure applied for loan repayment extends from 12 to 72 months, sanctioned according to the repayment ability.
  • The repayment is made via EMI or equated monthly installments deducted from the bank account.
  • The loan amount is intended for personal use only and cannot be used for investments or property purchases.
  • The interest is applied monthly to the reduced principal loan amount at an annual fixed rate.
  • The interest rate is decided at the disbursement and remains fixed for the entire tenure.
  • An instant personal loan in Gurgaon is quickly and conveniently processed within 72 hours.
Eligibility Criteria for a Personal Loan.
The eligibility criteria for a personal loan are generally consistent among lenders, although policy variations may exist.
  • Personal loans are issued to all citizens of India above the age of 23, and the EMI can be paid up to a maximum of 60 years.
  • A graduate or above educational qualification is required to apply for a personal loan in Gurgaon.
  • The minimum salary required is ₹30k and above, which should be transferred to the customer's Bank account on a designated date.
  • To be eligible for a personal loan in Gurgaon, an applicant must have continuous work experience of 24 months or more.
  • The applicant's employer must be approved, and the company should be featured on the bank's approved company list.
  • The minimum CIBIL score required to process a Personal Loan is 720 points; some Banks issue Personal loans without a Credit score.
Benefits of a Personal Loan.
  • A Personal Loan is unsecured and issued without any security or guarantee based on KYC and income documents.
  • A Personal Loan is instant credit processed within 72 hours when required in an emergency.
  • Funds transferred as a Personal Loan can be used at the applicant's discretion.
  • The terms for a Personal Loan are flexible and convenient, with a reasonable interest rate for an instant loan in Gurgaon.
  • An applicant can quickly apply for Personal loan online in Gurgaon to receive funds.
  • With a regular repayment record, an unsecured personal loan helps build a good credit score.
Personal Loan Types
Leading Banks and Personal Loan providers in Gurgaon process. Personal Loans according to the customer's requirements:
  • Personal Loan In Gurgaon.

    Applicants in Gurgaon who need a personal loan can contact www.yourloanadvisors.com, a personal loan agent in Gurgaon who provides funds from leading banks at the lowest interest rate. Customers can apply for a personal loan online in Gurgaon or provide hard copies of the documents.

  • Parallel or secondary loan.

    Banks and NBFCs offer parallel loans in Gurgaon and are keen to fund existing customers with on-time repayment records. Loan amounts are appended according to the applicant's eligibility criteria and repayment capacity. The terms of the parallel loan can differ from those of the existing loan.

  • Top Up Personal Loan in Gurgaon.

    As the term denotes, extra funds can be added to a personal loan when required. The Top-up personal loan allows a customer to increase the existing loan amount and continue to pay a single EMI for the restructured loan after adding the Top-up amount.

  • Personal loan Balance transfer in Gurgaon.

    Customers with numerous Personal loans can face issues related to managing the EMI and keeping track of the loans. With a Personal loan Balance transfer in Gurgaon, the loans can be consolidated under a single umbrella. Leading Banks offering to transfer the Balance of external loans are HDFC Bank, ICICI Bank, Axis Bank and YES Bank.

What are the steps to process a Personal Loan?
  • Determine the Loan amount required and check your eligibility with the help of our EMI calculator.
  • Identify the right Personal Loan Lender who can fulfil your loan needs.
  • Assimilate the Documents required to apply physically or for an online personal loan in Gurgaon.
  • Fill in the application form and submit with documents as hard copies or process online.
  • The Bank conducts a CIBIL check to confirm whether the CIBIL score exceeds the required benchmark.
  • Physical verification is conducted at the applicant's office and residence premises.
  • The application then moves to the Underwriter of the Bank, who studies the customer inputs and gives a decision.
  • After the customer accepts the loan terms, the amount approved is transferred to the applicant's account.
What are the Personal Loan charges?
The primary charges for a Personal Loan are as follows:
Interest Rate: The interest rate is the cost of funds for a Personal loan and ranges from 10.65% to 20%. The personal loan interest is fixed at the time of disbursal and charged at a monthly reducing principal balance. The interest rate varies from Bank to Bank according to the individual policy. Significant factors influencing the interest rate include:
  • The employer's status is in the approved company category list of the bank.
  • The applicant's income and net salary is transferred monthly to the account.
  • The Loan amount: applicants eligible for a loan amount of ₹ ten lakhs and above are offered the best interest rates.
Processing fees: The file or processing charges are levied on approved cases. Banks have varied process charges, from .5% to 2.5% of the loan amount disbursed. Others, such as the HDFC Bank, charge a standard amount of 4700/- to 5700/- irrespective of the loan amount disbursed. No amount is to be given upfront; the fees are deducted from the loan amount sanctioned.
Foreclosure and Part payment charges: An applicant keen to repay a part or the complete amount of the loan before the expiry of the tenure will be allowed to do so after the payment of 12 EMI. A charge applies to the amount paid from 2% to 5% per the lender's policy.
Documents required for processing
KYC Documents
Proof of Identity - Passport / Driving License / Voter ID (any one)
Proof of Residence - Leave and License Agreement / Utility Bill (not more than three months old) / Passport (anyone)
Aadhaar Card Copy
2 Passport Size photographs
For Income Proof
Pan Card Copy
The last three months bank statement (where salary/income is credited)
Salary slips for the last three months
Form 16 (latest)
FAQ'S
  • Do I Need to Give a Guarantee or Security To Secure a Personal Loan?
  • No security or guarantee is required to receive a Personal Loan.

  • What is The Time Taken To Get Funds via a Personal Loan?
  • The average processing time for a Personal loan is 4 working days.

  • Do I Need To Give Any Payment in Advance?
  • The average processing time for a Personal Loan is 4 working days.

  • Will I Need To Visit The Bank Personally To Apply For a Loan?
  • Your Loan Advisors give you the comfort of the Doorstep Delivery of your Personal Loan.

  • How Can I Receive an Instant Personal Loan?
  • Apply For Instant Personal Loan Online with complete documentation, and receive funds from the Bank within 48 hours.

  • How Will I Receive The Loan Amount Approved?
  • The Loan amount approved will be transferred to your salary account.

  • How Do I Repay The Monthly Installment?
  • The installement for your Personal Loan will automatically deducted through ECS.

  • How is The Rate of Interest Calculated?
  • The Rate of Interest for a Personal Loan is applied on a monthly reducing basis.

  • Will The Rate of Interest Change Anytime During The Tenure?
  • The Rate of Interest an installement remains fixed for the entire tenure of the Personal Loan.

  • On What Date Will The EMI Be Presented To My Account?
  • The Rate of Interest an installement remains fixed for the entire tenure of the Personal Loan.

  • How Can I Calculate The EMI For My Personal Loan?
  • The monthly installment payable can be calculated with the help of our Personal Loan EMI Ealculator Online.

  • Can I Prepay My Personal Loan Before The Completion of The Tenure?
  • Extra amounts can be paid towards the principal loan amount, per the Parent Bank terms. As per the norms, there can be a lock-in period and partial or complete payment of the loan before the completion of the tenure can be chargeable.

  • What is Personal Loan Insurance?
  • All Banks and NBFC'S offer an insurance cover for Lending. The terms include a cover for life, accidents, illness or inability to repay EMI due to loss of employment. The charges vary as per the Loan amount.

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