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Processing Fee

2.50%

Max Tenure

5 yrs

Best Rate

10.99%

View Details

Features

  • Easy Documentation & hassle free Personal Loan with door step service
  • Faster Process & Approvals
  • No Collateral Required
  • Repayment Tenure from 12 to 60 months

Pricing

  • Interest Rate: 10.99% to 20.75 P.A
  • Processing fee - 0.99 to 2.50 % P.A

Documents Required

  • Application form with 2 photographs, Processing fee cheque
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport,Utility bill, Lease agreement
  • Salaried - Salary slip for 3 months, latest 3 months bank statement with salary credit
  • Self employed - Office address proof, audited financials for last 2 yrs and latest 6 months balance sheet

Processing Fee

2.50%

Max Tenure

5 yrs

Best Rate

10.99%

View Details

Features

  • Easy Documentation & hassle free Personal Loan with door step service
  • Faster Process & Approvals
  • No Collateral Required
  • Repayment Tenure from 12 to 60 months

Pricing

  • Interest Rate: 10.99% to 20.75 P.A
  • Processing fee - 0.99 to 2.50 % P.A

Documents Required

  • Application form with 2 photographs, Processing fee cheque
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport,Utility bill, Lease agreement
  • Salaried - Salary slip for 3 months, latest 3 months bank statement with salary credit
  • Self employed - Office address proof, audited financials for last 2 yrs and latest 6 months balance sheet

Processing Fee

1.0%

Max Tenure

5 yrs

Best Rate

12.49%

View Details

Features

  • Pre-approved personal loan offer
  • No collateral required
  • Simplified documentation process
  • Flexible Repayment Options
  • Attractive Interest Rates

Pricing

  • Interest Rate: 12.49% onwards
  • Processing Fee:1.0% + Service Tax

Documents Required

  • ID Proof: PAN Card, passport, driving license, Aadhar card, voter ID
  • Address proof: PAN Card, Aadhar Card, Passport, Driving License, Voter ID, Electricity Bill, Rent Agreement
  • Income Proof : Latest three months bank statement showing salary credit, Latest three salary slips

Processing Fee

2.5%

Max Tenure

NA

Best Rate

14.5%

View Details

Features

  • Loans starting from Rs. 50,000
  • Faster processing
  • Simple and minimum documentation
  • Flexible Repayment Options
  • Doorstep Service
  • Affordable Rates & Charges

Pricing

  • Processing Fee:2.5% + Service Tax

Documents Required

  • ID Proof: PAN Card, passport, driving license, Aadhar card, voter ID
  • Address proof: PAN Card, Aadhar Card, Passport, Driving License, Voter ID, Electricity Bill, Rent Agreement
  • Income Proof : Latest three months bank statement showing salary credit, Latest three salary slips

Processing Fee

2.25%

Max Tenure

5 yrs

Best Rate

14.75%

Processing Fee

999₹*

Max Tenure

5 yrs*

Best Rate

11.49%*

Processing Fee

1500₹*

Max Tenure

5 yrs*

Best Rate

13.99%*

Processing Fee

0.5%*

Max Tenure

5 yrs

Best Rate

12.99%*

Processing Fee

2%

Max Tenure

4 yrs

Best Rate

17.25% *

Processing Fee

2.49%

Max Tenure

NA

Best Rate

16%

Processing Fee

2000₹

Max Tenure

3 years

Best Rate

28% p.a

Processing Fee

2.5%

Max Tenure

1 year

Best Rate

35.1% p.a

Processing Fee

2.5%

Max Tenure

1 year

Best Rate

35.1% p.a

Processing Fee

2%

Max Tenure

5 yrs

Best Rate

13.99%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10.95%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10.99%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.50%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.60%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

13.75%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

14.40%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10.99%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

12.60%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

9.50%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

9.70%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10.25%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10.25%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10.40%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

15.50%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10.99%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.50%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.50%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.45%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

13.00%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

14.20%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

13.50%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

9.65%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.75%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.75%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

14.05%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

10%

Processing Fee

nil*

Max Tenure

nil*

Best Rate

13.99%

Processing Fee

2.5%

Max Tenure

1 year

Best Rate

35.1% p.a

Processing Fee

2.5%

Max Tenure

1 year

Best Rate

35.1% p.a

Processing Fee

5%*

Max Tenure

1 year

Best Rate

28.5%*

Processing Fee

2.0%

Max Tenure

5 yrs

Best Rate

15.5%

Processing Fee

3.0%

Max Tenure

NA

Best Rate

1%

Processing Fee

2%

Max Tenure

1.6 yrs

Best Rate

18%

Processing Fee

2%

Max Tenure

nil*

Best Rate

23.0%

Processing Fee

2.5%

Max Tenure

nil*

Best Rate

11.99%

Processing Fee

2%

Max Tenure

12 months

Best Rate

21% p.m

Processing Fee

2%

Max Tenure

NA

Best Rate

Processing Fee

2%

Max Tenure

1-5 yrs

Best Rate

10.75%

Sorry! We couldn't find any offer matching this category.

Personal Loan in Ludhiana p

Do you live in Ludhiana? Are you looking for a personal loan in Ludhiana and wondering what your options are? Read on!

Personal Loans in Ludhiana

What is a personal loan?

A personal loan is generally an unsecured loan—meaning no collateral or guarantor is required in order to obtain it. As the name suggests, it is a loan taken by an individual to fund any personal expenses like, for example, a wedding, to remodel the home or even for a luxurious vacation. A personal loan doesn’t have any restriction on the end use, unlike many other kinds of loan. The borrower has the full freedom to use the money for any purpose they want.

Key features of a Personal Loan:

  • Complete flexibility of end use
  • No security/guarantor required
  • Loan amount ranging from few thousands to several lakhs.
  • Speedy Processing and disbursals
  • Loans for salaried & self-employed individuals.
  • Payment via EMI with tenure ranging from 12 to 60 months
  • Competitive interest rates—although this is dependent on individual credit history
  • Facility to apply online with most of the lenders
  • Special offers for existing customers, like special rates and discounts

Disadvantages of a personal loan:

The downside to taking a personal loan is the high interest rate. Since it is an unsecured loan, the lender usually charges you a high interest rate to avoid risk of falling into bad debt. Personal loans are one of the costliest loans in the market which could go up to as high as 32% p.a. or even more, depending the severity of your credit situation.

Personal Loans in Ludhiana—Availability

All major banks offer personal loans in Ludhiana. Popular banks and NBFCs that offer personal loans in Ludhiana include: Indian Bank, Standard Chartered Bank, Punjab National Bank, Yes Bank, HDFC Bank, Canara Bank, Corporation Bank, Bank of India, SBI, Central Bank of India, Fullerton, Axis Bank, ICICI Bank, Shriram Finance, Bajaj Finance, Citibank, etc.

Personal loans in Ludhiana for salaried, self-employed, business people and NRI are available.

Is it possible to get a personal loan in Ludhiana with bad credit?

Yes and no.

Yes, it is possible to get a personal loan in Ludhiana with bad credit depending on the severity of your credit situation, and the relationship you share with your lender.

If loan application is accepted despite having a poor credit history, you might be offered unfavorable terms and conditions, like a high interest rate and high penalty for missing payments, etc.

Worst case scenario—your application would be rejected and your credit score will take a beating. So, it is always advisable to raise your credit score to a healthy 700 or above, so that you can avail a personal loan at reasonably good terms and interest rate.

Eligibility for Personal Loan in Ludhiana

  • Age criteria: The applicant should be between 21 years to 65 years (at the time of maturity of the loan).
  • Salaried, self-employed, and business professionals are eligible to apply. If you are not a regular wage earner, talk to your bank manager about your situation.
  • Minimum salary for salaried people is typically Rs. 15,000 though the salary requirement depends on what tier of city you live in and the company you work for.
  • Should be staying in the same address / city for at least 1 year
  • Total work experience should be at least 2 years
  • Should have a stable employment history.

You can check your eligibility for a personal loan in Ludhiana online, on the lender’s website.

Documents Required for Personal Loans in Ludhiana

For salaried / self-employed professionals:

Following are an overview of the documents generally asked while applying for a personal loan in Ludhiana:

  • Valid Identity Proof - Passport, Driving License, Voter ID Card, Aadhar Card, PAN Card (any one document to be submitted)
  • Valid Address Proof – Lease/Rent Agreement, Passport, Driving License, Ration Card, Utility bill (not more than 3 months old), Bank Statement
  • Income Proof Documents – Last 6 months salary slip and latest Form 16
  • Bank Statements: Past 6 months bank statement with salary credit
  • Continuity of employment proof, like offer letter, relieving letter, etc.

For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.

  • Degree Certificate / educational documents for self-employed professionals.
  • Proof of business existence
  • Last 3 years Income Tax returns (self and business)
  • Last 3 years Profit /Loss and Balance Sheet, duly attested by a CA
  • Any other documents as directed by the Bank or NBFC

Personal Loan in Ludhiana With Low Interest

Lenders usually offer a low interest rate to those who have a good credit history. The interest rate is dependent on variety of factors including the loan amount applied, credit score and history, existing loan obligations, the loan amount, employer profile, etc.

Personal Loan in Ludhiana FAQS

What is the minimum and maximum loan amount for salaried people?

The loan amount generally varies from a few thousands to lakhs of rupees. The final loan amount is at the discretion of your lender.

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 Ludhiana.

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.

I need urgent funds. How long will it take for my loan to be sanctioned?

The time taken to disburse personal loans varies from lender to lender. If you apply to your existing bank/lender, you might have quicker approval.

Is part-prepayment of a Personal Loan allowed?

It depends on the lender’s policies. It is advisable to contact your lender directly.

I already have an existing loan from another lender. Am I required to declare it?

Yes, if you have any existing loan commitments, then it is crucial to declare them.

How to apply for Personal loan in Ludhiana:

There are several ways to apply for a personal loan:

  • You can apply directly online at the bank / NBFC's website;
  • You can go in person to your nearest branch and apply with the required documentation

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.

Customer Reviews

4 / 5 (2 Reviews)
6 Dec 2018

Super nice

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