Home Breaking news Top 10 NBFCs in India Offering Loans with Aadhaar and a 650 CIBIL Score

Top 10 NBFCs in India Offering Loans with Aadhaar and a 650 CIBIL Score

Top NBFCs Providing Easy Loans with Aadhaar and a 650 CIBIL Score

by naeem
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Top 10 NBFC: Best NBFCs for Getting a Loan with a 650 CIBIL Score in 2024

If you’re looking for the top 10 Non-Banking Financial Companies (NBFCs) in India for 2024 that offer loans to individuals with an Aadhaar card and a CIBIL score of 650, here’s a list that can be useful:

A personal loan is a type of unsecured loan provided by financial institutions such as banks, credit unions, or Non-Banking Financial Companies (NBFCs) that can be used for a wide range of personal expenses. Unlike secured loans, which are backed by collateral (such as a home or car), personal loans do not require you to pledge any asset. Instead, lenders approve personal loans based on factors like your credit score, income, and repayment capacity.

Key Features of Personal Loans:

  1. Unsecured Loan: No collateral is required, making it accessible to a broader audience.
  2. Flexible Use: The loan amount can be used for various purposes, including:
  • Debt consolidation
  • Medical emergencies
  • Home renovations
  • Weddings
  • Education
  • Travel or vacation expenses
  1. Fixed or Variable Interest Rates: Personal loans usually come with a fixed interest rate, meaning the interest rate remains constant throughout the loan tenure. Some lenders may offer variable rates, where the interest can change over time.
  2. Loan Tenure: Typically, personal loans have a tenure ranging from 1 to 5 years, but it can vary depending on the lender.
  3. Loan Amount: The loan amount can vary widely, from a few thousand rupees to several lakhs, depending on the lender and your eligibility.
  4. Repayment: Repayment is usually done through Equated Monthly Installments (EMIs) over the loan tenure.
  5. Quick Disbursal: Personal loans often have a quick approval and disbursal process, especially if you have a good credit score.
  6. Eligibility: Eligibility is typically based on factors like:
  • Credit score (a higher score improves approval chances)
  • Income level and stability
  • Employment history
  • Age and other criteria set by the lender
  1. Documentation: Minimal documentation is required, often just proof of identity, income, and address.

Pros and Cons of Personal Loans:

Pros:

  • No Collateral Needed: Reduces risk for borrowers who do not have assets to pledge.
  • Versatility: Can be used for virtually any personal need.
  • Fixed EMIs: Easier to budget monthly expenses due to fixed repayment amounts.
  • Quick Access to Funds: Often disbursed within a few days or even hours.

Cons:

  • Higher Interest Rates: Since personal loans are unsecured, interest rates are usually higher compared to secured loans.
  • Impact on Credit Score: Missing EMIs or defaulting can significantly harm your credit score.
  • Shorter Repayment Terms: Shorter tenure means higher EMIs, which could strain your monthly budget.

Personal loans are a popular choice for those who need quick access to funds without the need for collateral. However, it’s important to assess your repayment capacity and compare loan offers to ensure you get the best deal.

Here’s a table showcasing the top 10 NBFCs in India that offer loans with an Aadhaar card and a CIBIL score of around 650:

RankNBFC NameLoan TypesEligibilityKey FeaturesSpecial Mention
1Bajaj FinservPersonal, Home, BusinessAadhaar card, CIBIL 650+, Stable IncomeQuick approval, flexible repayment optionsPre-approved loans for existing customers
2Tata CapitalPersonal, Home, CarAadhaar card, CIBIL 650+, Stable IncomeCompetitive interest rates, fast disbursalFlexible EMI options and loan restructuring facilities
3Fullerton IndiaPersonal, BusinessAadhaar card, CIBIL 650+, Stable IncomeHigh loan amounts, quick processingCustomized loan solutions based on individual credit profiles
4Aditya Birla FinancePersonal, Home, BusinessAadhaar card, CIBIL 650+, Stable IncomeFast approval, transparent processHigh approval rates for loans despite lower CIBIL scores
5L&T FinancePersonal, Two-Wheeler, HomeAadhaar card, CIBIL 650+, Stable IncomeSwift disbursement, minimal documentationSpecial loan offers for salaried professionals and small business owners
6HDB Financial ServicesPersonal, Business, GoldAadhaar card, CIBIL 650+, Stable IncomeCompetitive interest rates, easy documentationTailored loan solutions for self-employed individuals and small business owners
7Muthoot FinanceGold, Personal, HomeAadhaar card, CIBIL 650+, Gold ownershipHigh loan amounts against gold, quick processingProvides loans against gold with minimal credit score impact
8Shriram City Union FinancePersonal, Business, VehicleAadhaar card, CIBIL 650+, Stable IncomeHigh loan approval rate, flexible tenure optionsSpecial schemes for rural and semi-urban customers
9KreditBee Personal LoanPersonal, Home, BusinessAadhaar card, CIBIL 650+, Stable IncomeQuick online application, minimal documentationAttractive offers for salaried individuals and professionals
10Mahindra FinancePersonal, Vehicle, BusinessAadhaar card, CIBIL 650+, Stable IncomeCompetitive interest rates, easy loan processingSpecialized loan offerings for rural and agricultural customers

This table summarizes the top 10 NBFCs that are more likely to approve loans for individuals with a CIBIL score of 650, highlighting the types of loans they offer, eligibility criteria, key features, and any special mentions that make them stand out.

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Top 10 NBFCs in India Offering Loans with Aadhaar and a 650 CIBIL Score 8

Here’s a detailed overview of Bajaj Finserv’s loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(1)Bajaj Finserv Personal Loan Details

FeatureDetails
Loan Amount₹50,000 to ₹25 lakh
Interest RateStarting from 13% per annum (varies based on eligibility and loan amount)
Loan Tenure12 to 60 months
Processing FeesUp to 4% of the loan amount
Prepayment Charges2% + applicable taxes on the outstanding principal (only after payment of the first EMI)
DisbursementWithin 24 hours of approval

Eligibility Criteria

  • Age: 21 to 60 years
  • Employment: Must be a salaried employee or self-employed with a stable income.
  • Minimum Salary: ₹25,000 per month (may vary depending on the city and profession).
  • CIBIL Score: Minimum of 650 is required; a higher score increases the chances of approval and may lead to better terms.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Passport, Utility Bill, or Rent Agreement.
  • Income Proof: Salary slips for the last 3 months, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or other proof of employment.

How to Apply

  1. Online Application:
  • Visit the Bajaj Finserv Personal Loan page.
  • Click on “Apply Now” and fill in the required details, including loan amount, tenure, and personal information.
  • Upload the necessary documents.
  • Submit the application.
  1. In-Person Application:
  • Visit a Bajaj Finserv branch with the required documents.
  • Fill out the application form and submit it to the branch representative.
  • The loan will be processed and approved if you meet the eligibility criteria.

Key Benefits

  • Quick Approval: Loans are often approved within minutes, and funds are disbursed within 24 hours.
  • Flexible Tenure: Choose a repayment period that suits your financial situation, ranging from 12 to 60 months.
  • No Collateral Required: Since it’s an unsecured loan, there’s no need to pledge any assets.
  • Minimal Documentation: The online application process is streamlined, requiring only essential documents.

Bajaj Finserv offers a user-friendly platform for applying for personal loans, making it easy for eligible individuals to secure funds quickly and conveniently.

Here’s a detailed overview of Tata Capital’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(2)Tata Capital Personal Loan Details

FeatureDetails
Loan Amount₹75,000 to ₹35 lakh
Interest RateStarting from 10.99% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure12 to 72 months
Processing FeesUp to 2.75% of the loan amount
Prepayment Charges4.5% of the principal outstanding if prepaid within 6 months; lower charges for prepayment after 6 months
DisbursementWithin a few hours to a few days, depending on the application and verification process

Eligibility Criteria

  • Age: 22 to 58 years for salaried individuals; up to 65 years for self-employed.
  • Employment: Salaried employees, self-employed professionals, and business owners.
  • Minimum Salary: ₹20,000 per month (varies by location and profile).
  • CIBIL Score: Minimum of 650 is typically required; a higher score may result in better interest rates and terms.
  • Work Experience: At least 1 year of continuous employment or business history.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 6 months.
  • For Self-employed: Income tax returns for the last 2 years, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or business registration certificate.

How to Apply

  1. Online Application:
  • Visit the Tata Capital Personal Loan page.
  • Click on “Apply Now” and fill in the necessary details like loan amount, tenure, and personal information.
  • Upload the required documents and submit the application.
  • The loan application will be processed, and you’ll receive updates via SMS or email.
  1. In-Person Application:
  • Visit a Tata Capital branch with the necessary documents.
  • Fill out the application form provided at the branch.
  • Submit the form along with the documents to the branch representative.
  • The loan will be processed, and if approved, the amount will be disbursed.

Key Benefits

  • Flexible Loan Amounts: Borrow up to ₹35 lakh, depending on your financial needs and eligibility.
  • Extended Tenure: Choose a repayment period of up to 72 months to suit your financial plan.
  • No Collateral Required: Tata Capital’s personal loans are unsecured, meaning you don’t need to pledge any assets.
  • Quick Disbursal: Depending on your profile, the loan can be approved and disbursed within a few hours to a few days.
  • User-Friendly Process: The application process is simple and can be completed online or at a branch.

Tata Capital provides a variety of personal loan options tailored to different financial needs, with competitive interest rates and a smooth application process.

Here’s a detailed overview of Fullerton India’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

Learn more about how to use your TVS Insta EMI Card on Flipkart by visiting our detailed guide:

Learn more about how to use your TVS Insta EMI Card on Flipkart by visiting our detailed guide:

How to Use Your TVS Insta EMI Card on Flipkart

(3)Fullerton India Personal Loan Details

FeatureDetails
Loan Amount₹50,000 to ₹25 lakh
Interest RateStarting from 11.99% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure12 to 60 months
Processing FeesUp to 3% of the loan amount
Prepayment Charges3% to 5% of the outstanding principal, depending on the tenure and timing of prepayment
DisbursementTypically within 2 to 3 days of approval

Eligibility Criteria

  • Age: 21 to 58 years for salaried individuals; up to 65 years for self-employed.
  • Employment: Salaried employees, self-employed professionals, and business owners.
  • Minimum Salary: ₹20,000 per month (varies by city and profile).
  • CIBIL Score: Minimum of 650 is generally required; a higher score may lead to better terms and interest rates.
  • Work Experience: At least 1 year of continuous employment or business history.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 6 months.
  • For Self-employed: Income tax returns for the last 2 years, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or business registration certificate.

How to Apply

  1. Online Application:
  • Visit the Fullerton India Personal Loan page.
  • Click on “Apply Now” and fill in the required details, including loan amount, tenure, and personal information.
  • Upload the necessary documents and submit the application.
  • You will receive updates on your application status via SMS or email.
  1. In-Person Application:
  • Visit a Fullerton India branch with the required documents.
  • Complete the application form provided at the branch.
  • Submit the completed form and documents to the branch representative.
  • The loan will be processed, and you will be informed of the approval status.

Key Benefits

  • Flexible Loan Amounts: Borrow up to ₹25 lakh based on your financial needs and eligibility.
  • Flexible Tenure: Repayment options ranging from 12 to 60 months.
  • No Collateral Required: Personal loans are unsecured, so no assets need to be pledged.
  • Quick Disbursal: Funds are typically disbursed within 2 to 3 days after approval.
  • Minimal Documentation: Simple application process with minimal paperwork.

Fullerton India offers personal loans with competitive interest rates and a user-friendly application process, making it a viable option for those in need of quick financial assistance.

Here’s a detailed overview of Aditya Birla Finance’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(4)Aditya Birla Finance Personal Loan Details

FeatureDetails
Loan Amount₹50,000 to ₹30 lakh
Interest RateStarting from 11.5% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure12 to 60 months
Processing FeesUp to 2% of the loan amount
Prepayment Charges3% to 5% of the outstanding principal, depending on the timing of prepayment
DisbursementTypically within 1 to 2 days of approval

Eligibility Criteria

  • Age: 21 to 60 years for salaried individuals; up to 65 years for self-employed.
  • Employment: Salaried employees, self-employed professionals, and business owners.
  • Minimum Salary: ₹25,000 per month (varies by city and profile).
  • CIBIL Score: Minimum of 650 is generally required; a higher score may improve the chances of approval and better terms.
  • Work Experience: Minimum 1 year of continuous employment or business history.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 6 months.
  • For Self-employed: Income tax returns for the last 2 years, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or business registration certificate.

How to Apply

  1. Online Application:
  • Visit the Aditya Birla Finance Personal Loan page.
  • Click on “Apply Now” and fill out the application form with the required details such as loan amount, tenure, and personal information.
  • Upload the necessary documents and submit the application.
  • You will receive updates about your application status via SMS or email.
  1. In-Person Application:
  • Visit an Aditya Birla Finance branch with the required documents.
  • Complete the application form provided at the branch.
  • Submit the form and documents to the branch representative.
  • The loan application will be processed, and you will be notified about the approval status.

Key Benefits

  • Flexible Loan Amounts: Borrow up to ₹30 lakh based on your financial needs and eligibility.
  • Extended Tenure: Repayment options available from 12 to 60 months.
  • No Collateral Required: Personal loans are unsecured, meaning you do not need to pledge any assets.
  • Quick Disbursal: Funds are typically disbursed within 1 to 2 days after approval.
  • Simplified Process: Easy application process with minimal documentation.

Aditya Birla Finance offers personal loans with attractive features and a streamlined application process, making it a good option for those needing quick and flexible financial assistance.

Here’s a detailed overview of L&T Finance’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(5)L&T Finance Personal Loan Details

FeatureDetails
Loan Amount₹50,000 to ₹25 lakh
Interest RateStarting from 11.5% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure12 to 60 months
Processing FeesUp to 3% of the loan amount
Prepayment Charges3% of the outstanding principal
DisbursementTypically within 2 to 3 days of approval

Eligibility Criteria

  • Age: 21 to 60 years for salaried individuals; up to 65 years for self-employed.
  • Employment: Salaried employees, self-employed professionals, and business owners.
  • Minimum Salary: ₹20,000 per month (varies by city and profile).
  • CIBIL Score: Minimum of 650 is generally required; a higher score may help in securing better terms and interest rates.
  • Work Experience: Minimum 1 year of continuous employment or business history.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 6 months.
  • For Self-employed: Income tax returns for the last 2 years, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or business registration certificate.

How to Apply

  1. Online Application:
  • Visit the L&T Finance Personal Loan page.
  • Click on “Apply Now” and complete the online application form with details such as loan amount, tenure, and personal information.
  • Upload the required documents and submit the application.
  • You will receive updates on the status of your application via SMS or email.
  1. In-Person Application:
  • Visit an L&T Finance branch with the necessary documents.
  • Fill out the application form available at the branch.
  • Submit the form and documents to the branch representative.
  • The loan application will be processed, and you will be informed about the approval status.

Key Benefits

  • Flexible Loan Amounts: Borrow up to ₹25 lakh depending on your financial needs and eligibility.
  • Extended Tenure: Choose a repayment period from 12 to 60 months.
  • No Collateral Required: Personal loans are unsecured, meaning no assets need to be pledged.
  • Quick Disbursal: Funds are typically disbursed within 2 to 3 days after approval.
  • Simplified Process: The application process is streamlined with minimal documentation requirements.

L&T Finance provides personal loans with competitive interest rates and a straightforward application process, making it a convenient option for those seeking fast and flexible financial solutions.

Here’s a detailed overview of HDB Financial Services’ personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(6)HDB Financial Services Personal Loan Details

FeatureDetails
Loan Amount₹50,000 to ₹20 lakh
Interest RateStarting from 11.5% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure12 to 60 months
Processing FeesUp to 2.5% of the loan amount
Prepayment Charges3% of the outstanding principal
DisbursementTypically within 2 to 3 days of approval

Eligibility Criteria

  • Age: 21 to 60 years for salaried individuals; up to 65 years for self-employed.
  • Employment: Salaried employees, self-employed professionals, and business owners.
  • Minimum Salary: ₹20,000 per month (varies by location and profile).
  • CIBIL Score: Minimum of 650 is generally required; a higher score may lead to better interest rates and terms.
  • Work Experience: Minimum 1 year of continuous employment or business history.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 6 months.
  • For Self-employed: Income tax returns for the last 2 years, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or business registration certificate.

How to Apply

  1. Online Application:
  • Visit the HDB Financial Services Personal Loan page.
  • Click on “Apply Now” and complete the online application form with details such as loan amount, tenure, and personal information.
  • Upload the required documents and submit the application.
  • You will receive updates on your application status via SMS or email.
  1. In-Person Application:
  • Visit an HDB Financial Services branch with the necessary documents.
  • Fill out the application form available at the branch.
  • Submit the form and documents to the branch representative.
  • The loan application will be processed, and you will be informed about the approval status.

Key Benefits

  • Flexible Loan Amounts: Borrow up to ₹20 lakh based on your financial needs and eligibility.
  • Extended Tenure: Choose a repayment period ranging from 12 to 60 months.
  • No Collateral Required: Personal loans are unsecured, so no assets need to be pledged.
  • Quick Disbursal: Funds are typically disbursed within 2 to 3 days after approval.
  • Simple Process: The application process is straightforward with minimal documentation.

HDB Financial Services offers personal loans with competitive interest rates and a smooth application process, making it a good option for individuals seeking fast and flexible financial assistance.

Here’s a detailed overview of Muthoot Finance’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(7)Muthoot Finance Personal Loan Details

FeatureDetails
Loan Amount₹25,000 to ₹50 lakh
Interest RateStarting from 11.5% per annum (varies based on loan amount, tenure, and gold valuation)
Loan Tenure3 to 36 months
Processing FeesUp to 1% of the loan amount
Prepayment Charges2% of the outstanding principal
DisbursementTypically within a few hours to 1 day of approval

Eligibility Criteria

  • Age: 18 to 70 years
  • Employment: Self-employed individuals (as the loan is secured by gold)
  • CIBIL Score: Not typically required for gold loans, as the loan is secured against gold; however, a good credit score can help in getting better terms.
  • Gold Valuation: Loan amount is based on the value of the gold pledged. Generally, a higher value of gold can fetch a higher loan amount.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Gold Proof: Gold ornaments or coins to be pledged for the loan.
  • Income Proof: Not typically required for gold loans, but may be needed for higher loan amounts or if additional verification is needed.

How to Apply

  1. Online Application:
  • Visit the Muthoot Finance Gold Loan page.
  • Click on “Apply Now” and provide the required details like loan amount and tenure.
  • Upload the necessary documents and details about the gold to be pledged.
  • Submit the application for processing.
  1. In-Person Application:
  • Visit a Muthoot Finance branch with the gold to be pledged and the required documents.
  • Fill out the application form available at the branch.
  • Submit the form and documents along with the gold to the branch representative.
  • The loan will be processed, and you will be informed about the approval status and loan amount.

Key Benefits

  • High Loan Amounts: Borrow up to ₹50 lakh based on the value of the gold pledged.
  • Quick Disbursal: Funds are typically disbursed within a few hours to 1 day after approval.
  • No Income Proof Required: Gold loans do not require income proof, making it accessible for those without regular income.
  • Flexible Tenure: Choose a repayment period from 3 to 36 months.
  • Simple Process: Minimal paperwork and quick processing, with loan secured against gold.

Muthoot Finance provides a convenient option for securing personal loans through gold, offering quick approval and flexible terms, making it suitable for individuals needing immediate financial assistance.

Here’s a detailed overview of Shriram City Union Finance’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(8)Shriram City Union Finance Personal Loan Details

FeatureDetails
Loan Amount₹25,000 to ₹30 lakh
Interest RateStarting from 12% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure12 to 60 months
Processing FeesUp to 2% of the loan amount
Prepayment Charges3% of the outstanding principal
DisbursementTypically within 2 to 3 days of approval

Eligibility Criteria

  • Age: 21 to 58 years for salaried individuals; up to 65 years for self-employed.
  • Employment: Salaried employees, self-employed professionals, and business owners.
  • Minimum Salary: ₹15,000 per month (varies by city and profile).
  • CIBIL Score: Minimum of 650 is generally required; a higher score may help in getting better terms and interest rates.
  • Work Experience: Minimum 1 year of continuous employment or business history.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 6 months.
  • For Self-employed: Income tax returns for the last 2 years, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or business registration certificate.

How to Apply

  1. Online Application:
  • Visit the Shriram City Union Finance Personal Loan page.
  • Click on “Apply Now” and fill in the required details such as loan amount, tenure, and personal information.
  • Upload the necessary documents and submit the application.
  • You will receive updates on your application status via SMS or email.
  1. In-Person Application:
  • Visit a Shriram City Union Finance branch with the required documents.
  • Complete the application form provided at the branch.
  • Submit the form and documents to the branch representative.
  • The loan application will be processed, and you will be informed about the approval status.

Key Benefits

  • Flexible Loan Amounts: Borrow up to ₹30 lakh depending on your financial needs and eligibility.
  • Extended Tenure: Repayment options available from 12 to 60 months.
  • No Collateral Required: Personal loans are unsecured, so no assets need to be pledged.
  • Quick Disbursal: Funds are typically disbursed within 2 to 3 days after approval.
  • Simplified Process: The application process is straightforward with minimal documentation.

Shriram City Union Finance offers personal loans with competitive interest rates and a user-friendly application process, providing a convenient solution for those seeking quick financial assistance.

Here’s a detailed overview of Mahindra Finance’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(9)Mahindra Finance Personal Loan Details

FeatureDetails
Loan Amount₹50,000 to ₹30 lakh
Interest RateStarting from 11.5% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure12 to 60 months
Processing FeesUp to 2% of the loan amount
Prepayment Charges3% of the outstanding principal
DisbursementTypically within 2 to 3 days of approval

Eligibility Criteria

  • Age: 21 to 58 years for salaried individuals; up to 65 years for self-employed.
  • Employment: Salaried employees, self-employed professionals, and business owners.
  • Minimum Salary: ₹20,000 per month (varies by city and profile).
  • CIBIL Score: Minimum of 650 is generally required; a higher score may improve the chances of approval and offer better terms.
  • Work Experience: Minimum 1 year of continuous employment or business history.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 6 months.
  • For Self-employed: Income tax returns for the last 2 years, bank statements for the last 6 months.
  • Employment Proof: Offer letter, employment certificate, or business registration certificate.

How to Apply

  1. Online Application:
  • Visit the Mahindra Finance Personal Loan page.
  • Click on “Apply Now” and complete the online application form with details such as loan amount, tenure, and personal information.
  • Upload the required documents and submit the application.
  • You will receive updates regarding your application status via SMS or email.
  1. In-Person Application:
  • Visit a Mahindra Finance branch with the required documents.
  • Fill out the application form available at the branch.
  • Submit the form and documents to the branch representative.
  • The loan application will be processed, and you will be notified about the approval status.

Key Benefits

  • Flexible Loan Amounts: Borrow up to ₹30 lakh based on your financial needs and eligibility.
  • Extended Tenure: Choose a repayment period from 12 to 60 months.
  • No Collateral Required: Personal loans are unsecured, meaning you don’t need to pledge any assets.
  • Quick Disbursal: Funds are typically disbursed within 2 to 3 days after approval.
  • User-Friendly Process: The application process is straightforward and can be completed online or at a branch.

Mahindra Finance offers personal loans with competitive features and a streamlined application process, providing a reliable solution for those seeking quick financial assistance.

Here’s a detailed overview of KreditBee’s personal loan offerings, including tenure, how to apply, required documents, eligibility, and CIBIL score requirements:

(10)KreditBee Personal Loan Details

FeatureDetails
Loan Amount₹1,000 to ₹5 lakh
Interest RateStarting from 16% per annum (varies based on eligibility, loan amount, and tenure)
Loan Tenure2 to 15 months
Processing FeesUp to 2% of the loan amount
Prepayment ChargesVaries based on the loan agreement
DisbursementTypically within 24 hours to 3 days of approval

Eligibility Criteria

  • Age: 21 to 45 years
  • Employment: Salaried employees, self-employed professionals
  • Minimum Salary: ₹15,000 per month (varies by location and profile)
  • CIBIL Score: Minimum of 600 is generally required; a higher score can help in securing better terms and interest rates.
  • Work Experience: Minimum 6 months of work experience for salaried individuals; for self-employed, 1 year of business operation.
  • Nationality: Indian resident.

Required Documents

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
  • Address Proof: Aadhaar Card, Utility Bill, Passport, or Rent Agreement.
  • Income Proof:
  • For Salaried: Salary slips for the last 3 months, bank statements for the last 3 months.
  • For Self-employed: Income tax returns for the last 1 year, bank statements for the last 6 months.
  • Employment Proof: Offer letter or employment certificate (for salaried individuals).

How to Apply

  1. Online Application:
  • Visit the KreditBee Personal Loan page.
  • Click on “Apply Now” and complete the online application form with details such as loan amount, tenure, and personal information.
  • Upload the required documents and submit the application.
  • You will receive updates on your application status via SMS or email.
  1. Mobile App Application:
  • Download the KreditBee app from the Google Play Store or Apple App Store.
  • Register or log in to your account.
  • Fill in the loan application form with the required details.
  • Upload the necessary documents through the app and submit your application.
  • Track your application status through the app.

Key Benefits

  • Quick Loan Processing: Loans are typically processed within 24 hours to 3 days.
  • Flexible Loan Amounts: Borrow from ₹1,000 to ₹5 lakh based on your financial needs.
  • Short Tenure Options: Repayment periods range from 2 to 15 months.
  • Minimal Documentation: Simple application process with minimal paperwork.
  • Accessible: Easy online and mobile app-based application process.

KreditBee provides a convenient option for quick personal loans with flexible amounts and tenures, suitable for individuals needing fast and accessible financial assistance.

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