Personal Loans in Ranchi

  • Bajaj Finance
  • ICICI Bank
  • TATA Capital
  • INDUSIND Bank
  • FULLERTON
  • IDFC
Reviews (5)

Why apply through CreditMantri

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

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

5 yrs*

processing fee

1500₹*

best rate

13.99%*

  • Maximum loan - 15 lakhs
  • Flexi EMIs with Higher Loan Eligibility
  • Minimum Documentation and Verification
  • Quick processing
  • Security or Guarantors not Required
  • Interest rate - 14.5% to 18%
  • Processing fee - 1% to 2% of loan amount
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID, Aadhar
  • Address proof (any one) - Passport, Driver's license, Voter ID, Ration card, Electricity bill, Rent agreement
  • Residence stability proof
  • Employment stability proof
  • Latest 3 month salary slips / Form-16 / Appointment letter

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 Ranchi

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

Personal Loans in Ranchi

What is a personal loan?

A personal loan is generally an unsecured loan where you needn’t offer any collateral or guarantor to avail it. It carries lower interest rates than a credit card, so it can be used as a credit card debt consolidation tool. Its end use is not restricted—the loan amount can be used for any legitimate purpose making this a flexible, all-purpose loan. Even though it is relatively cheap when compared to a credit card, personal loans come with a high interest rate, since it is an unsecured loan. The lender usually charges you a high interest rate to safeguard their money against potential default.

A Personal loan is one of the costliest loans in the market, since its interest rates could range anywhere from 11% to as high as 32% or even more depending on your credit history and other factors.

A personal loan is a short-term loan with tenure ranging from 1 year to 5 years. It can be easily availed if you have a good credit history. which you can secure easily if you have a good credit score. Some banks offer over-the-counter loans, which could come handy if you are in the middle of a financial crisis, say a medical emergency.

Key features of a Personal Loan:

  • Complete flexibility of end-use
  • Short-term loans with flexible tenures ranging from 12-60 months
  • No security required
  • Quick processing and speedy approvals
  • Easy documentation
  • Loan amount ranging from few thousands to several lakhs
  • Loans for salaried & self-employed individuals
  • Facility to apply online with most of the lenders
  • Special offers for existing customers, like special rates and discounts

Personal Loans in Ranchi—Availability

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

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

Personal Loan for CIBIL Defaulters in Ranchi

If you are a CIBIL defaulter, it can get very difficult get any new credit. If you are in urgent need of funds, then you could perhaps approach a private personal loan provider in Ranchi that offers special loans for defaulters. Keep in mind though the interest rate offered would be on the higher side because of your defaulter status.

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

Often, people neglect to keep a good credit score without knowing its repercussions. The full impact of not having a good credit score is only realized when they apply for a loan and get rejected everywhere or are offered unfavorable conditions like a high interest rate. It is possible to get a personal loan in Ranchi with bad credit depending on the severity of your credit situation, and the relationship you share with your lender. The lender might look at other factors that will impact your repayment capacity, like your current income and employment stability. Keep in mind however, that you might have to pay a high interest rate because of your bad credit history.

Eligibility for Personal Loan in Ranchi

  • 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 do not earn a regular salary, 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 Ranchi online, on the lender’s website.

Documents Required for Personal Loans in Ranchi

For salaried / self-employed professionals:

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

  • 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 Ranchi With Low Interest

Lenders usually offer a low interest rate to those who have an excellent credit history and a good credit score. Pull out your credit records and see if your credit score needs improvement so that you become eligible for the lowest interest rates.

Personal Loan in Ranchi FAQS

I have a low credit score. Will I be approved for a personal loan?

You might be approved for a personal loan even if you have a not-so-good credit score. The lender might look at other factors that will impact your repayment capacity, like your income. However, it is best to improve your score to 750 before applying for any kind of loan to avail the lowest interest rates.

When should I opt for a personal loan?

If you are in an urgent need for money, and have a good plan on repaying it, then availing a personal loan is a good choice.

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. It could generally take anywhere from 24 hours to 7 working days or even more, depending on the lender.

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 amount could be restricted depending on your income and other existing loan obligations.

Do I have to pledge any collateral to secure a personal loan?

No collateral or security is required for obtaining a personal loan in Ranchi.

How to apply for Personal loan in Ranchi:

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

"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. "

"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."

"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. "

"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!"

"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."