|Aditya Birla Finance Personal Loan Details Updated on|
|Loan Amount||Rs. 25,000 to Rs. 15 lakhs|
|Loan Tenure||7 years|
|Interest Rate||14% p.a. to 26% p.a.|
Aditya Birla Finance Personal Loan is for salaried people and professionals. You can borrow for short-term up to 12 months, or higher up to 7 years. The minimum borrowing amount is Rs. 25,000 and the upper limit is Rs. 15 lakhs. You can use the funds for any personal expense such as travel, medical emergency, wedding, events, big-ticket purchase, education of children, etc. You can foreclose the personal loan personal loan after a year and make part payments after 6 months from the date of disbursement.
In this post, we will discuss Aditya Birla personal loan features, eligibility criteria, documents required, interest rates, EMI calculation, fees and charges, and frequently asked questions.
Here are the features of Aditya Birla Finance Limited (ABFL) personal loan:
Here are the eligibility criteria for personal loan ABFL:
Here are the documents you have to submit with the loan application form:
Here are details about Aditya Birla Finance Personal Loan Interest Rates:
Here are the fees and charges for Aditya Birla personal loan:
|Types of Charges||Details|
|Processing Fees||Up to 2% of the loan amount|
|Default penal charges||3% per month of the outstanding amount|
|Fees for CIBIL report retrieval||Per instance: Rs. 100 + GST|
|Cheque return||Per instance: Rs. 500 + GST|
|Loan cancellation||4% of the disbursed amount + applicable taxes|
|Loan reschedules||Rs. 5000 + GST|
|Exchanging PDCs/ECS||Rs. 750 + GST|
|Preclosure quote||Per instance: Rs. 1000 + GST|
|Foreclosure(allowed after 12 months from the date of loan disbursal)||4% of the principal outstanding amount + GST|
|Insurance Premium||If applicable, then as per actual|
|Stamp Duty||If applicable, then as per actual|
|Repayment schedule/Duplicate statement/Any other document with the company||Per instance: Rs. 200|
|NOC issuance||Rs. 500|
You can use the EMI calculator online to immediately arrive at the exact monthly installment. The calculator will inform about the total repayment amount to pay through the tenure and at the end of it. You will understand the principal amount as well as the interest outgo over the period. But for better understanding, we will present to you an illustration as well:
|Year||Interest Outgo in INR||Principal in INR||Outstanding Amount in INR|
|Tenure in Years||Interest Rate||Loan Amount in INR||Interest Outgo in INR||EMI in INR||Total Amount in INR|
|1||14%||Rs. 2 lakhs||15,489||17,957||2,15,489|
|2||14%||Rs. 2 lakhs||30,462||9603||2,30,462|
|3||14%||Rs. 2 lakhs||46,079||6836||2,46,079|
|4||14%||Rs. 2 lakhs||62,334||5465||2,62,334|
|5||14%||Rs. 2 lakhs||79,219||4654||2,79,219|
Below provided are important questions about personal loan Aditya Birla Finance.
Here is why you should opt for a loan from ABFL:
ABFL provides a hassle-free experience to its customers. It gives borrowers complete control over their loan account. The platform, ABFL Connect helps in this facility. It is a secure service platform from where you can access your loan account. Enter your login credentials, and you are good to go.
This secured platform allows you to view the loan account at your convenience. You can put an online request for disbursement. You can also view and save the amortization schedule. You can apply for a new loan or ask for a top-up loan. You can also change your ECS mandate.
Cheques (any unused/unbanked i.e., undated/post-dated/security post-dated) in the custody of the finance firm will be destroyed/shredded after cancellation after the closure of the loan account. The customers need not wait for an intimation from the representatives, as there will be none. However, the borrowers can be assured that apt action will be taken to cancel and destroy the said cheques.
You can visit a nearby branch between 10:00 AM and 7:00 PM from Monday to Friday, and alternative Saturdays. Branches stay open on 2nd, 4th, and 5th Saturdays. The branch remains closed on national holidays and Sundays. You can also contact 1-800-270-7000 (helpline number) on Monday to Sunday between 9:00 AM and 9:00 PM. The helpline remains closed on national holidays.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Aditya Birla Finance.
My experience with Aditya Birla Finance for personal loan in Bangalore was a good one. My schedule was so hectic that I chose to apply online for the loan at loanbaba and was not disappointed by either of their service. Both loanbaba and Indian were professional in their service.
Personal loan by Aditya Birla Finance was perfect, but the turnaround time is something they can work upon.
Ajeet G. Pathak
I had applied my personal loan in Mumbai at Aditya Birla Finance. I was in dire need of funds and fortunately got the loan amount soon.
I approached Aditya Birla Finance for personal loan through loanbaba. They approved my loan on receipt of all documents. My credit score was as per their criteria and I therefore received a very low interest rate.