Personal Loan in Gurgaon

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Personal loan in Gurgaon Personal loan in Gurgaon is a short-term unsecured loan. It can fulfil any monetary need, as there is no restriction on the end-purpose of the funds. Many use the money for medical emergency, home improvement, travel, big ticket purchase, vehicle repair, debt consolidation, wedding, etc. You can borrow up to Rs. 1 crore on tenure till 5 years. Rate of interest is as low as 10.99% and much affordable than rates on credit cards. To apply for personal loan Gurgaon, you can drop an online application on our website so that we can provide you the best proposals by partnered banks and NBFCs.

At, you can compare Gurgaon personal loan offers across financial institutions and get the funds as quick as in 48 hours.

Personal Loan in Gurgaon Details Updated
Loan Amount Rs. 1 Lakh to Rs. 1 Crore
Loan Tenure 1 Year to 5 Years
Interest Rate 10.99% - 16.00%

Advantages of Gurgaon Personal Loan

Below-given are benefits of a personal loan:

Gurgaon Personal Loan EMI Calculation

The monthly instalment of a personal loan depends on the principal amount borrowed. Higher the loan amount, then higher will the equated monthly instalment (EMI). Tenure too impacts the EMI. Longer the tenure, then lower will be the EMI, but higher the interest payout. Thus, you must choose the shortest possible tenure as per your repayment capacity.

Similarly, the rate of interest applicable on the loan in Gurgaon will also influence the EMI. Lower the rate, lower will be the EMI. Use our free-of-cost personal loan EMI calculator to know the exact monthly instalment on different combinations of tenure, rate of interest, and loan amount.

Why Apply for a Personal Loan Gurgaon on Loanbaba?

Below-mentioned are the ways Loanbaba benefits you to get the most suitable personal offer:

FAQs about Personal Loan in Gurgaon

Below-mentioned are frequently asked questions about Gurgaon personal loan:

1. Who can apply for the loan?

Personal loan as a product is targeted towards salaried individuals who draw a regular monthly income. However, there could be special schemes for professionals and self-employed individuals as well.

2. What are the income criteria?

To be eligible to apply for the loan, you must draw Rs. 25,000 minimum as monthly salary. Income requirement is higher for metro city applicants, compared to that for semi-urban, urban, and remote areas.

3. How much work experience is needed to obtain the fund?

Work experience of at least 2 years is necessary to obtain the fund. Most of the financial institutions want the applicants to possess at least a year’s experience with their current employer.

4. How to get the best personal loan interest rate in Gurgaon?

Personal loan interest rate Gurgaon starts at 10.99%. To get the best rate of interest on the loan, you must have CIBIL score 750+, excellent repayment capacity, and lower financial liabilities. Other factors that influence the rate are the tenure, loan amount, relationship with the lending institution, and type of profession or employer, etc.

5. Are there specific loan schemes for agriculturists and professionals?

There are a few financial institutions, which offer personal loan to doctors, lawyers, farmers, consultants, business associates, Chartered Accountants, etc. It is advisable to check with the bank/NBFC for any special deal they may have in store for you, if you are a professional or an agriculturist.

6. Are too many personal loans at a time good for your credit profile?

To create a good credit mix, you must have a combination of secured and unsecured loans. Too many open unsecured loans at a time may affect perception of your creditworthiness. It may seem as you are credit hungry, and lenders may then apply a higher rate of interest on your new loans. However, you can still opt for multiple personal loans at a time, if need arises.

7. What are the different types of personal loans in India?

As discussed above, a personal loan can be taken for travel, medical emergency, wedding, and any other expense you have. There are special personal loans schemes for holiday, home renovation, and many other activities.

8. Which are the top banks and NBFCs offering a personal loan?

Some of the top financial institutions to seek a personal loan from are HDFC Bank, TATA Capital, RBL, IIFL, Kotak Mahindra, Poonawalla Finance, Credy, CASHe, State Bank of India, Axis Bank, ICICI Bank, etc.

9. How do financial institutions determine your repayment capacity?

The lending institution will analyze your debt-to-income ratio, wherein your disposable income free of financial liabilities, will be considered to determine the borrowing amount. Fewer financial liabilities will fetch you a greater loan amount and better terms on the loan.

10. What are the impacts of defaulting on the loan?

If you default on the loan (unable to make repayments and leave an outstanding amount on the loan), then your credit score will fall, making it difficult for you to take a new loan in the future. Defaulting on the loan will take away your credibility as a borrower, and even if you do get a loan in the future, it will be on a very high rate of interest.