In Ahmedabad, personal loans generally start @ 10.49% p.a. for loan amount of up to Rs 40 lakh and tenures of up to 5 years. Public Sector Banks might offer personal loans at lower interest rates and for longer tenures. Pre-approved instant loans are also offered to select customers.
Personal Loan Features
- Personal loan interest rates usually start @ 49% p.a.
- Loan tenure usually range up to 5 years. Some banks/NBFCs might sanction loans for up to 7 years
- Loan Amount- Up to Rs 40 lakh
- Pre-approved personal loans are offered to select customers
- No collateral security required
- No end usage restriction, other than speculation
- Processing Fees- Up to 4%
- Instant loan disbursal is offered by some banks/NBFCs
Income Requirements
Minimum Monthly Income required: Rs 15,000; can be higher for some lenders
Eligibility for Personal Loan in Ahmedabad
- Minimum Age: 21 years at the time of personal loan application
- Maximum Age: 70 years at the time of loan maturity
- Nationality: Resident Indian
- Credit Score: 750 and above for better chances of availing personal loan and at lower interest rates
- Job profiles: Salaried, self-employed professionals and self-employed non-professionals, public and private sector employees, employees of State/Central/Local government
Also Check:- Credit Score
Documents Required for Personal Loan in Ahmedabad
- Filled application form with photographs
- Identity Proof- PAN Card/ Voter ID/ Driving License/Aadhaar Card/ Passport
- Address Proof- Aadhar Card/copy of ration card /Voter ID/Driving License/ Passport/electricity bills /gas connection bills
- Age Proof- Aadhar Card/Birth Certificate/SSC Certificate/Voter ID/PAN Card
- ITR/ Form 16 for past 3 years
- Last 3 months’ salary slips
- Last 6 months’ bank account statement