Personal Loans in Lucknow

Personal loans are generally offered @ 10.25% p.a. onwards in Lucknow, for loan amount of up to Rs 40 lakh and tenures of up to 5 years. Public Sector Banks, may however, offer personal loans at lower interest rates and for longer tenures. Some banks/NBFCs also offer pre-approved instant personal loans to select customers.

Personal Loan Features

  • Interest rates in Lucknow usually start from 10.25% p.a. onwards
  • Loan tenure is usually up to 5 years; might range up to 7 years for some banks/NBFCs
  • Loan Amount- Up to Rs 40 lakh
  • Processing Fees- Up to 4%
  • Instant loan disbursal is offered by some lenders
  • No collateral security
  • Pre-approved personal loans offered to select customers
  • No end usage restriction, other than speculative purposes

Income Requirements

Minimum Monthly Income for salaried applicants: Rs 15,000 which can be higher for some lenders

Eligibility for Personal Loan in Lucknow

  • Job profiles: Salaried, self-employed professionals and self-employed non-professionals, public and private sector employees, employees of State/Central/Local government
  • Age: 21 years at the time of loan application

70 years at the time of loan maturity

  • Resident Indian
  • Credit Score: 750 and above for better chances of availing personal loan and at lower interest rates

Documents Required for Personal Loan in Lucknow

  • Application form duly filled with photographs attached
  • 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

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