|Loan Amount||Rs. 1 lakh to Rs. 1 crore|
|Interest Rate||10.50% onward|
|Tenure||1 year to 5 years|
|Processing Fee||Up to 2% of the loan amount|
|Prepayment Charges||Up to 5% of the outstanding principal|
Personal loan in Pune is offered to salaried individuals. A personal loan is an unsecured form of loan and offered by several banks and NBFCs in the city. After the capital of Maharashtra, Pune is now considered the second largest city of the state. It is also proclaimed as the cultural capital of Maharashtra. In terms of population, the city is 7th largest in the world. Administrative headquarters of the Pune district is in Pune city itself. Historically, in the 18th century, the city was known to be a political centre of India, as it was the seat of Peshwas who were the ministers in Maratha Empire.
Further, the city is also automobile and manufacturing hub of the state, and hence many educational/ research institutes have also been established here. The famous of these institutes are in the field of education, training, marine, IT, management, etc. If you are looking for personal loan Pune, you can trust Loanbaba.com as your best personal loan provider in Pune.
Here are few of the features to look into:
Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Pune Personal loan eligibility calculator at Loanbaba.com. The eligibility criteria for Personal loan are discussed below:
The personal loan interest rate in Pune starts at as low as 10.50% and go up to 20% or more depending on the bank/NBFC you choose, your income profile, existing financial liabilities, eligibility factor, credit score, age, etc. On our website, you can compare interest rates offered on the loan across leading financial institutions and get the best offer.
Here are some of the ways you can get lowest interest rate personal loans for yourself.
The purpose of loan can be educational expenses, marriage, renovation of house, medical expenditure, etc. Personal loans are processed very quickly and hence prove to be convenient to public. There are various lenders in the market and hence you can bargain for the interest rates, fees, and charges. The rate of interest charged by various banks is different. It depends upon your past track record for repayments, bank relation, credit score, and income level.
At Loanbaba, you can compare and apply for Personal loans online. You can check out several Personal loan schemes and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page.
Below provided are important questions about personal loan in Pune.
You can pay off the entire due amount before the tenure ends. This option to close the loan is called foreclosure or preclosure. On the other hand, if you want to repay a part of the due amount together, then it is known as part payment. Both the options can help save you on the interest outgo.
The shorter the tenure, lower is the interest payout, but the EMI is larger, and vice-versa. As for loan amount, higher it is, lower is the rate of interest, and vice-versa. A lower loan amount on shorter tenure, will give you a lower cost on the loan, and otherwise.
This loan is an unsecured borrowing, so the bank is strict about your repayment capacity. For this purpose, the lender would like you to have a stable job and regular monthly income up to expectation. You should also have good amount of disposable income to afford the EMIs. If you fit the criteria of monthly income and employment, then the bank will approve the loan.
You will receive the approved loan amount into your bank account. There will be no cash dealing. It may take two days or more to approve your loan application and disburse the funds. If your documents are in place, and you meet the eligibility criteria then it will take shorter time to process the loan.
The lender can reject the loan application if you do not meet its eligibility criteria. These criteria are related to your age, monthly income, employment, credit score, loan amount request, and a lot more.
Both banks and NBFCs are good enough to take a personal loan from. Which one you choose depends on your requirements and how well you meet the eligibility criteria of the lending institution. Traditional banks may have a stricter procedure for loan approval. NBFCs on the other hand may have an easier procedure and norms for the same.
If you have a CIBIL score above 750, then there is a good chance that the bank/NBFC will approve your loan application. A lower CIBIL score may mean loan application rejection or borrowing at a higher interest rate.
You can visit our website to check out the best providers for Pune personal loans. We list out all the possible banks and NBFCs and their offers for the loan. You can go through all the features of the schemes, and apply.
You must pay the EMIs on time to maintain a good credit score. On late payment, your creditworthiness reduces. It also gets difficult for you to take a new loan or the existing funder to trust you further with repayments. Also, the bank will apply late payment charges on the EMIs, and this will make the loan costlier.
To boost your chances of getting a personal loan approval, you must have a great repayment track record, a good credit score, sufficient monthly income and disposable income. You must also satisfy the eligibility criteria set by the financial institution.
Recently the bank in Pune approved Personal loan. They gave a good response and all terms and conditions were suited to my needs.
Taking Personal loan in Pune through online portal of loanbaba was after all not a bad idea. This way I could communicate with the Pune without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
This is first experience taking Personal loan in Pune process was on time. The bank followed up as well properly. There were no issues in getting the amount.
I had applied my Personal loan in Pune. I was in dire need of funds and fortunately got the loan amount soon.