Personal Loans in Rajkot

  • Bajaj Finance
  • ICICI Bank
  • INDUSIND Bank
  • FULLERTON
  • IDFC
5.0 / 5 (5 Reviews)

Why apply through CreditMantri

Quick and easy approval for Personal Loans in Rajkot 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 Rajkot, 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 Rajkot 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 Rajkot.

max tenure

5 yrs

processing fee

0.5%*

best rate

12.99%*

  • Maximum loan - 20 lakhs
  • Attractive Interest Rates
  • Quick and easy approval process
  • Balance transfer on existing personal loan
  • Interest rate - 12.99% to 23%
  • Processing fee - 0.50% to 2.50% of loan amount
  • KYC – ID proof, DOB Proof, Signature proof & Address proof
  • Bank Statements
  • Residence stability proof
  • Employment stability proof
  • Latest 3 month salary slips / Form-16 / Appointment letter

max tenure

5 yrs

processing fee

2.25%

best rate

14.75%

  • Maximum loan - 25 lakhs
  • 5-minute online personal loan approval and cash in bank in 72 hours
  • Interest rate - 12% to 15%
  • Processing fee - 2.25% to 3% of loan amount
  • Per bounced cheque - 1000/- and 2% penal interest per month
  • Secure fee - 999/- for instant approval online
  • Online application, Employee ID card
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport, Driver's license, Ration card, Mobile bill, Letter from employer
  • Signature proof (any one) - Passport, PAN, Driver's license, Photo credit card, Letter from bank verifying signature
  • Work experience documents - Appointment letter, Form 16, 1 yr old salary slip, same for previous employment

max tenure

5 yrs*

processing fee

999₹*

best rate

11.49%*

  • Maximum loan - 20 lakhs (salaried)
  • Maximum loan - 30 lakhs (self employed)
  • Fixed interest rate
  • Direct credit of the loan amount through Fund Transfer (FT)
  • Simple repayment options such as ECS, AD or PDC
  • Interest rate - 13% to 18%
  • Processing fee - Up to 2.5% of loan amount
  • 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, bank statement with salary credit
  • Self employed - Office address proof, audited financials for last 2 yrs and latest 6 months balance sheet

max tenure

4 yrs

processing fee

2%

best rate

17.25% *

  • Personal Loan up to 20 lacs.
  • Easy Repayment over 12 to 48 months.
  • Quick and easy approval process
  • Balance transfer of an existing Personal loan
  • Interest Rate: 17.25% onwards
  • Processing Fee: 2% onwards
  • Application form with a recent photograph
  • ID Proof - Passport Copy/ Voter ID card/ Driving License/ PAN Card
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License
  • Age proof - PAN Card, Passport, any other certificate from a statutory authority
  • Bank Statements (Bank statement / Bank Passbook for last 6 months) OR Last 3 months’ salary slip
  • Form 16
  • Income Tax Returns for last 3 years
  • Processing fee cheque
  • Previous 2 years’ experience letter without any gap (if current work experience < 1 year)

max tenure

5 yrs

processing fee

2%

best rate

15%

  • Ability to save on interest
  • Quick and transparent processing
  • Customized loan as per your requirement
  • Simpler documentation
  • Interest Rate – 15%
  • Processing Fees - 2%
  • PAN Card
  • Address Proof -Any one of Aadhaar/Driving licence/Passport/Voter ID/NREGA Card
  • Age Proof
  • Last 3 months’ salary slips
  • Last 6 months’ bank statement

Personal Loan in Rajkot

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

Personal Loans in Rajkot

What is a personal loan?

A personal loan is an unsecured loan, meaning there is no requirement to pledge your assets or provide any collateral to avail the personal loan. Using a personal loan, you could fund anything from your dream vacation to higher education of your children or house remodeling or purchase expense gadgets or use it for a medical emergency or for business needs, or to overcome a financial crisis, like a sudden income loss. The end-use is not restricted, making it a flexible loan. You needn’t provide any documentation stating the end-use of the loan.

Based on your actual requirement, repayment capacity, and existing loan obligations, lenders can approve loan amount ranging from a few thousands to lakhs of rupees.

Key features of a Personal Loan:

  • Easy documentation and speedy approvals
  • Quick Processing
  • Flexible tenure up to 5 years
  • Over-the-Counter loans available with leading banks, subject to certain conditions
  • Facility to apply online with most lenders
  • Special offers for existing customers like a reduced interest rate, etc.

Disadvantages of a personal loan:

Personal loans are one of the costliest loans in the market with high interest rates. The interest on a personal loan could go up to as high as 32% p.a. or even more, depending on your credit profile and other factors.

Personal Loans in Rajkot—Availability

All major banks and NBFCs offer personal loans in Rajkot. Popular banks and NBFC’s that offer personal loans in Rajkot include: Kotak Mahindra Bank, Bank of India, SBI, Mahindra Finance Canara Bank, Axis Bank, Fullerton, Central Bank of India, HDFC Bank, ICICI Bank, IDBI Bank, Bajaj Finance, Punjab national Bank, IndusInd Bank, , Shriram Finance, Citibank, etc.

Personal loans in Rajkot for salaried, self-employed, business people and NRIs are available.

Personal Loan for CIBIL Defaulters in Rajkot

If you are a CIBIL defaulter, it can get very difficult to get any form of credit, let alone a personal loan. You could try approaching personal loan provider in Rajkot that offer special loans for defaulters. It will be offered at exorbitantly high interest rates though, given your defaulter tag.

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

It is not entirely impossible to avail a personal loan with bad credit—it depends on the severity of your credit situation, and the relationship you share with your lender. If you approved for a loan under such circumstances, it will be done so at an unfavorable interest rate.

It is advisable to first pull out your credit report and understand why your credit situation is bad before applying for any kind of loan. Depending on your credit situation, it can take anywhere from 4 months to 12 months to get your credit score to a healthy number.

Eligibility for Personal Loan in Rajkot

  • 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 Rajkot online, on the lender’s website.

Documents Required for Personal Loans in Rajkot

For salaried / self-employed professionals:

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

  • 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 Rajkot With Low Interest

Lenders usually offer a low interest rate to those who have a good credit history. If your credit score is 750 or above, you stand a good chance of negotiating and obtaining a personal loan at a relatively low interest rate. With a good score, you can have faster and hassle-free access to credit.

Personal Loan in Rajkot FAQS

What is the ideal credit score to avail a personal loan?

The ideal credit score would be 750 and above. However, the approval of a personal loan application depends on several other factors as well, such as your income and employment stability.

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

The loan amount depends on various factors like your net annual income, your repayment behavior, your credit score, credit history and other factors.

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 Rajkot.

How do I repay the loan?

You can repay the loan amount in convenient EMI (Equated Monthly Instalments) which is the fixed monthly amount you need to pay your lender towards servicing your personal loan—interest included.

Is there any restriction on the end-use of a personal loan?

The personal loan could be used for any legitimate purpose. Its end use is not restricted.

What is the interest rate on a Personal Loan?

The interest rate varies with each customer and their credit profile, as well as the lender’s policies.

How to apply for Personal loan in Rajkot:

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.