A personal loan is offers by banks for salaried employees who is working in an organizations. The Personal loan is a Unsecured loans because of no need to provide property, gold, etc with pledge with Banks or Financial Institutions. A borrower can use the personal for Marriage, Medical, Property purchase, etc. The rate of interest of the Personal loan is applicable based on the salary drawn from the Company. Rate of interest is low when getting salary more, interest will be high in case of getting salary low. Many of the Banks will not offers Personal for employees working the Proprietors, Partnership Concern. The bank will consider the salary, Cibil Score for sanction the Personal loan. Any default in previous loan, cant be eligible to apply Personal loan. A borrower should repay the loan monthly upto the loan tenure completed. Non payment of Personal loan or late payment of loan, or payment with check bounce will make credit default that you cannot apply any loan in future. HDFC bank is a leading Bank to provide Personal loan to salary employees in India. HDFC bank offers Personal loan @ 11.50%* per annum.
Many of the banks and financial Institutions are providing Personal Loan in Chennai to employees working with Organization of Private Limited, Public Limited, Proprietorship, Partnership Firm etc. Personal Loan is a unsecured loan which is not required to give any collateral security like mortgage loan, car loan. Any one can apply personal loan in Chennai for the purpose of medical needs, travel, home renovation, wedding, good purchases and so on.
If you want to apply personal loan in Chennai you must have good credit score and good track record for previously taken loan from Banks or financial Institutions. A person should have good salary more than Rs.20,000 per month to eligible for apply persona loan in Chennai. Employment, Organization will determine the most important factors like amount, tenure and rate of interest to avail personal loan in Chennai. Most of Banks in Chennai charge a pre-closure on early payment of closing your loan taken from the banks in Chennai which may 3% to 5%.
The banks of HDFC Bank Chennai, ICICI Bank Chennai, Axis Bank Chennai, Bajaj Finserve Chennai, Tata Capital Chennai, Fullertron Bank Chennai, Capital First Bank Chennai Providing Personal Loan to salaried to Individuals.
|Bank/NBFC||Rate of Interest||Loan Processing Charges||Prepayment/ Forclosure Charges||Cheque Bounce Charges|
|Axis Bank||15.50% to 24%||1.50% to 2.00% + GST as applicable||Nil||Rs. 500 per cheque bounce + GST as applicable|
|SBI||Personal Loans Scheme (SBI Saral): 8. 50% above Base Rate floating||2.02%-3.03% of the loan amount.||Nil||NA|
|HDFC Bank||15.75% to 20%||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.||Salaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 2% of Principal Outstanding >36 Months - NIL||NA|
|Bajaj Finserv||16%||2% - 3% of the loan amount||Nil||Rs. 1,000 for every bounce|
|ICICI Bank||13.99% to 18.00%||Up to 2.25% of loan amount plus GST||The lower of the two amounts given below: 1) 5% of principal outstanding or 2) Interest outstanding for the unexpired period of the loan.||NA|