Quick and easy approval for Personal Loans in Lucknow CreditMantri matches your credit and demographic profile to lender's Personal Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you Personal Loans in Lucknow, based on our proprietary matching algorithm.
In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Personal Loan in Lucknow Hence the chances of your Personal Loan application getting approved is higher. We even try our best to help people with low CIBIL Score, get a Personal Loan in Lucknow.
Do you live in Lucknow? Are you looking for a personal loan in Lucknow and wondering what your options are? Read on!
What is a personal loan?
A personal loan is an unsecured loan, meaning you do not need to pledge collateral in order to avail of the loan. The end use of the loan could be anything from personal expenses like your child’s wedding, your dream vacation, for a medical emergency or any other business expenses. It could be used as a debt consolidation tool as well, since its interest rates are generally lower than credit card interest rates.
Key features of a Personal Loan:
Disadvantages of a personal loan:
Personal loans are among the most expensive loans. They come with the one of the highest interest rates (after credit cards) since they are 'unsecured'. This is because the bank/NBFC has no safeguard against default. The interest rate on a personal loan could go up to as high as 32% p.a. or even more, depending on your individual credit profile and a number of other criteria.
All major banks and NBFCs offer personal loans in Lucknow. Popular banks and NBFC’s that offer personal loans in Lucknow include: Indian Overseas Bank, Dena Bank, CitiBank, IndusInd bank, RBL Bank, Indian Bank, Union Bank of India, SBI, Bank of India, Canara Bank, Axis Bank, Oriental Bank of Commerce, ICICI Bank, IDBI Bank, Standard Chartered Bank, HDFC Bank, Punjab National Bank, Fullerton, Bajaj Finance, Shriram Finance, Sundaram Finance, etc.
Personal loans in Lucknow for salaried, self-employed, business people and NRI are available.
If you are a CIBIL defaulter, it can get very difficult to avail any new credit. Before you apply for any kind of loan, you must take steps to remove your “defaulter” tag by making full payments towards all your overdue accounts.
If you are in a hurry for funds, you could perhaps approach a personal loan provider that offers special loans for defaulters.
It is not entirely impossible to get a loan with bad credit, but the cost you pay for it would be high—in terms of interest costs.
It is always advisable to raise your credit score to a healthy number of say 700 or above, so that you can avail a personal loan at reasonably good terms and interest rate.
You can check your eligibility for a personal loan in Lucknow online, on the lender’s website.
For salaried / self-employed professionals:
Following are an overview of the documents generally asked while applying for a personal loan in Lucknow:
For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.
Lenders usually offer a low interest rate to those who have an impeccable credit history. The interest rate is decided keeping quite a few factors in mind which includes your credit score, repayment behavior, existing loan obligations and the size of the loan as compared to your income. Personal loan interest rates range from 12% to upwards of 30% per annum.
What is the minimum and maximum loan amount for salaried people?
The loan amount generally varies from a few thousands to lakhs of rupees depending on various factors like income, credit score, borrowing history, employer profile, repayment capacity etc.
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 in Lucknow.
How do I repay the loan?
You can repay the loan amount in convenient EMI (Equated Monthly Instalments).
What is an EMI?
EMI stands for Equated Monthly Installment and is the monthly amount you need to pay your lender towards servicing your personal loan—interest included.
There are several ways to apply for a personal loan:
Need help? Alternatively, if you think you need help with your personal loan application and advice on loan eligibility, then CreditMantri can guide you through the entire process and match you with the loan offer that best suits your unique credit profile.
14 February 2017
"Quick approval CreditMantri helps the customer during the entire loan process. This site is basically for loan or card seekers. They give lot of help during the application process and give all details on how to apply and documents needed, till the time we get a credit card or loan. I had applied for a Bajaj Personal loan. They are taking very less time for completing the entire procedure about loans. Must say that I got it without any hassles. Really quick disbursal of my loan amount which was 5 lakhs, with very minimal documents required. I had an issue with my credit rating, which thankfully did not affect my application. Thank you CreditMantri. "
14 February 2017
"Fully satisfied Got to know about CreditMantri from Facebook! Happiest discovery I made. I was looking for personal loan offers, and obviously I want the low interest rate. I have got the maximum support from CreditMantri and I am happy with that. Through them, got an ICICI personal loan. They provided me with a host of offers. I honestly can’t point out any negatives in their service, as my experience has been smooth till now. No complaints, fully satisfied."
14 February 2017
"Helpful service CreditMantri helps with the customer application to the concerned bank or NBFC, and also provide credit improvement services. Till date, I am not facing any kind of drawbacks while using their services. Got my application processed within a short while and the loan amount in my bank account speedily. I got to know about this website from my friend who also uses its services. The website is very convenient for accessing and getting details about all the loans and offers from different lenders, all in one place. "
Narayan Murthy Ivaturi
14 February 2017
"Best place for comparing loan offers I came across CreditMantri during my search for a personal loan. This website provided me all the info I wanted. It is easy to search for loan offer on their CreditMantri than in any other. I would say that the level of service offered by CreditMantri is the best. Got a very good interest rate on a personal loan from IndusInd. For me, they took around two weeks to process and to put the money in my bank account. I had some issues with my documents, but CreditMantri helped me to clear it no time. Keep up the good work!"
N Senthil Kumar
14 February 2017
"Response plays a significant role when it comes to any business. CreditMantri scores on top in this regard! Service is immediate, and they provide superb guidance. I remember I asked a lot of questions to the customer executive during my first interaction and was perfectly guided on my loan requirement. I am using the site for first time, and I am surprised by their promptness in handling clueless customers. Just a teeny drawback is the Personal loan EMI calculator on their website, which I found to be a bit slow. Apart from this, what more to expect, when you get a personal loan at an excellent interest rate? Bliss."