Personal Loans in Varanasi

  • Bajaj Finance
  • ICICI Bank
  • TATA Capital
  • INDUSIND Bank
  • FULLERTON
  • Shriram City Union
5.0 / 5 (5 Reviews)

Why apply through CreditMantri

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

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

3 years

processing fee

2000₹

best rate

28% p.a

  • Faster loan disbursal process
  • Simplified documentation process
  • Repayment through Equated Monthly Instalments
  • Interest rate - 28%
  • Processing fee - 2000₹
  • ID Proof(any one)- Aadhaar card/Pan card/Driving License/Passport/Voter ID
  • Address Proof(any one)-Aadhaar card/Driving License/Passport/Voter Id
  • Post-dated cheque (For 6/12 Months)

Personal Loan in Varanasi

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

Personal Loans in Varanasi

What is a personal loan?

Do you want to renovate your home, purchase expensive consumer durables, or simply go on a luxurious vacation but are looking for some extra support to cover these short-term expenses? A Personal Loan might be the perfect answer to all your needs.

A personal loan is an all-purpose short-term that is unsecured, where you won’t be required to pledge any form of collateral or security. But at the same time, it is one of the costliest loans in the market. How costly depends entirely on your credit profile. The interest rate on a personal loan could go anywhere up to 32 % or even more depending on your credit history. The lender wants to cover up any potential risk of running into loss. But if planned carefully – a personal loan could be your friend in need!

A personal loan has several advantages including relatively simple documentation, no need for collateral, and no restrictions on how you use the money.

Key features of a Personal Loan:

  • Loans for salaried & self-employed individuals.
  • Simple documentation, and quick processing
  • Over-the-counter loans with some leading banks, subject to certain conditions
  • Flexible tenure—choose from tenures ranging from 1 to 5 years
  • No collateral, security or guarantor required
  • Special offers for professionals like doctors, chartered accountants, company secretaries, etc. depending on the lender’s policies.
  • Facility to apply online with most of the lenders
  • Special offers for existing customers
  • Loan amount starting from a few thousands to many lakhs.

Personal Loans in Varanasi—Availability

All major banks and NBFCs offer personal loans in Varanasi. Popular banks and NBFC’s that offer personal loans in Varanasi include: Axis Ban, IDBI Bank, SBI, IndusInd bank, Indian Bank, Union Bank of India, RBL Bank, Indian Bank, Dena Bank, Bank of India, Canara Bank, HDFC Bank, Citibank, ICICI Bank, Central Bank of India, Standard Chartered Bank, Punjab National Bank, Bajaj Finance, Fullerton, Shriram Finance, Sundaram Finance, etc.

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

Personal Loan for CIBIL Defaulters in Varanasi

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 remove your status as a defaulter in your credit report by contacting your lender and making full payments towards all your overdue accounts.

If you are in a hurry for funds, you could perhaps approach a private personal loan provider in Varanasi that offers special loans for defaulters. Do keep in mind that if you are offered a loan under such circumstances, it will generally come with a high interest rate.

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

It is not entirely impossible to avail a loan with bad credit. You might be approved, but at high interest rates. If you have bad credit, make a commitment to improve your credit situation, before applying for a personal loan in Varanasi.

Eligibility for Personal Loan in Varanasi

  • 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 Varanasi online, on the lender’s website.

Documents Required for Personal Loans in Varanasi

For salaried / self-employed professionals:

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

  • 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 Varanasi With Low Interest

Lenders consider your borrowing history to evaluate your repayment ability. Lenders are specific about knowing about your past credit behavior, for instance, whether you have been consistent with your repayment. Generally, the higher your credit score, the lower the interest rate will be.

Personal Loan in Varanasi 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 depending on your eligibility criteria like credit score, borrowing history, income, and repayment capacity. It also depends on your actual requirement and the lender’s policies.

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 Varanasi.

How do I repay the loan?

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

I wish to change the mode of repayment for my loan. How do I do that?

In case you wish to change the mode of repayment, you call the customer care center of your lender or visit the nearest branch and submit your request with the revised account mandate/instructions in writing.

How to apply for Personal loan in Varanasi:

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 documents

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.