Top 7 Personal Loan Offers in Chennai
With today’s lifestyle and expenses, even if you have a hefty pay cheque coming into your bank account every month, you can’t be sure that you’ll never feel the need to take a loan ever in your life. The kind of lifestyle that we have these days, expenses are bound to mount higher, no matter what our income is. There is hardly anyone that we see who can say they are self-sufficient with their monthly income. There are times when we feel the pinch in our pocket due to a sudden uncontrollable expense that has occurred. That is when we turn towards Personal Loan for our rescue. A Personal Loan can be categorized as emergency cash, which can be applied anytime as per your requirement and basis your income profile and your credit history, the banks would sanction the loan for you. This loan can be utilized for any personal usage without even the bank’s knowledge and that is why it is termed as Personal Loan as it takes care of all your personal issues.
While the terms and conditions of taking a Personal Loan are more or less the same across the country, the interest rates may differ as per the state or city. In this article, let’s talk about the top7 Personal Loanoffers in Chennai.
- HDFC BankPersonal Loan
- State Bank of India Personal Loan
- ICICI Bank Personal Loan
- AXIS Bank Personal Loan
- Kotak Mahindra BankPersonal Loan
- Fullerton India Personal Loan
- Standard Chartered Bank Personal Loan
- HDFC Bank Personal Loan: HDFC bank providesPersonal Loans to people with a minimum salary of Rs. 20,000 per month. HDFC is knownfor its minimum documentation and speedy processing of the loan and they provide loans upto Rs. 40 Lakhs as well. For existing customers, they also have pre-approved loan facility basis the customer’s credit history. The interest rates of the bank start at 11.25% and go upto 20% per annum. You can go for a repayment plan from 12 months to 60 months. If you are interested in an HDFC Bank Personal Loan, then you can walk into any HDFC bank and apply for an instant loan right away.
- SBI Bank Personal Loan: SBI Bank offers Personal Loans to existing and non-existing customers at interest starting at 11.5% per annum. The maximum rate of interest that the bank charges is 17.10% per annum. With SBI Personal Loan, you can pay off your Credit Card bills, plan a trip to any foreign destination, renovate your home to give it a new look or even transfer your existing Personal Loan from any other bank to SBI. You can take up a loan from Rs. 50,000 to Rs. 15 Lakhs from SBI basis on your credit score and income proof. You can either apply online on their website or walk into an SBI bank branch for the same, however, the loan disbursement with SBI Personal Loan takes approximately 4-5 days on an average.
- ICICI Bank Personal Loan:With an array of Loan facilities that ICICI bank provides, it also tops the charts when it comes to Personal Loans. With ICICI bank, you can get your loan instantly approved and disbursed within minutes of upto Rs. 20 Lakhs.Minimal documentation is guaranteed with this bank and if you are an existing customer, then you can also get the loan without any documentation at all. ICICI Bank Personal Loans at a rate of interest starting at 11.25% to 22% per annum. They also have a processing fee of up to2.25% of the loan amount to be paid just once.
- AXIS Bank Personal Loan: With Axis bank, you get instant Personal Loans of upto Rs. 15 Lakhs depending upon your eligibility. You can opt for a 12 month to 60 months repayment tenure and the interest rate of the bank starts at 15.75%per annum. The good news is that with this bank, there are no foreclosure or Prepayment charges levied, hence you can choose to close your loan much faster. All you need to do to get this loan is to enter your details on their website and their representative will call you back within no time to give you the most suited loan.
- Kotak Mahindra Bank Personal Loan: This is again a very versatile bank that offers Personal Loans to salaried as well as self-employed individuals at ease. They have hassle free documentation and approval process. Their approval and loan disbursement process are fast and very convenient. Once you send in your enquiry on their website, the post follow-up process is done by them only and they ensure that you get expedited service. Their rate of interest hovers between 11.50% to 24% per annum and the maximum loan period that you can opt for is 5 years and the maximum loan amount is Rs. 15 Lakhs.
- Fullerton India Personal Loan: With Fullerton India Personal Loan, you can get instant loans with minimum documentation by applying online on their site. They provide loans for anyone whose salary is more than Rs. 25,000 per month and has a good credit score. Lower interest rates at 11.99% – 23.99% is what Fullerton brings on the table for you. Being an NBFC,it comes with hassle free procedures and systems. You can avail a loan up to Rs. 30 Lakhs if you are a self-employed individual and for salaried individuals, it’s Rs. 20 Lakhs.
- Standard Chartered Bank:With Standard Chartered Bank (SCB), the loan availability is upto Rs. 30 Lakhs if the incumbent is capable of repaying. The ongoing interest rates would be ranging from 10.99% – 17% per annum. You also get facilities like last EMI waiver with Standard Chartered Bank incase they find you suitable for the option. You can apply online for faster processing of your loan and online application would also receive a further 50% discount on the processing fees. The term of the loan with SCB could be anything between 12 months to 60 months.
Conclusion: The above options illustrate the top sevenPersonal Loans in Chennai, however when you are planning for your Personal Loan, ensure that you do a thorough research about the company offering it, their interest rates, their processing fees, foreclosure charges, any hidden charges, and so on. Finalize on the one that completely matches with your requirement and fulfill all your desires of having a Personal Loan at your disbursal.