Personal Loan

Get a step closer to fulfilling your dreams by availing our personal loans and meet your financial needs at attractive interest rates.

Personal loan can help you meet unexpected expenses such as wedding expenditure, school or college fees, dream vacations, home renovation projects or even for the purchase of consumer durables. Applying for a personal loan is a lot easier, quick, and convenient with Bargain Loans.

You can also apply for a personal loan online and get instant solution to all your immediate financial needs.  Read on to know more on how to get a personal loan in the most hassle-free manner

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Benefits and Features of Personal Loan:

  • Avail instant personal loan in India from Rs. 50,000/-   to  Rs. 15,00,000/-
  • Flexible repayment options
  • Attractive interest rates
  • Minimal paper work

 

Disclaimers:

Conditions apply: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

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Personal Loan Eligibility Criteria

The eligibility to avail Personal loans is as follows –

All Indian residents who are employees of either MNCs, Public and Private limited companies with a minimum age of 21 years and maximum age of 58 years are eligible for a personal loan.

Other Personal loan eligibility criteria –

  • Income Net monthly salary of Rs. 25,000/-
  • Minimum educational qualification – Graduate
  • Years in city – Minimum 1 year
  • Total work experience – Minimum 2 years

Documentation Required for Personal Loan

List of documents required for Personal Loan are:

  • Application Form
  • 1 Photograph
  • Identity Proof
  • Residence Proof
  • Age Proof
  • Signature Proof
  • Ownership Proof
  • Income Details
  • Bank Account Statements

Submitting these documents will fulfill your personal loan requirement.

Fees and Charges

Personal Loan Interest rates and charges –

Pay low interest on personal loans and also benefit from our flexible repayment options. For more information on fees and charges refer the table below.

General Schedule of Features and Charges for Loan
Loan Business Loan Personal Loan
Interest Rate 11.5% to 24%
Loan Processing Charges Upto 3% of Loan amount Upto 2.5% of the loan amount+ service tax and other applicable statutory levies
Documentation Charges Upto Rs. 5000
Stamping Charges Applicable as per the respective State’s Stamp Act Applicable as per the respective State’s Stamp Act
Credit Administration Charges
Credit Appraisal Charges Upto 5% of the Loan amount, not exceedingRs. 7500(inclusive of service tax)
Commitment Charges
Overdue Interest 3% of Overdue Amount, compounded monthly 3% of Overdue Amount, compounded monthly on the amount due but unpaid from the date of the amount falling due till the date of actual payment
Collection Charges 30% of penal and cheque bouncing charges 30%(inclusive of service tax and other applicable statutory levies)of cheque/instrument dishonour charges+overdue interest
Dishonour Charges per Instance  Rs. 750.00  Rs. 750.00 per instance(inclusive of service tax and other applicable statutory levies)
Swap Charges( Replacement of PDCs) Upto Rs. 500 per Swap per Instance Upto Rs. 500 per Swap per Instance+ service tax and other applicable statutory levies
Prepayment Interest / Forclosure Charges Lock in period till payment of first 6(six) monthly instalment fully. Post 6 EMIs, 5% of foreclosure Loan Amount (plus Service Tax and other applicable statutory levies) Lock in period for 12 months. After 12 months, 5% foreclosure charges + service tax on principal outstanding
Duplicate Issue of NOC  Rs. 500/-  Rs. 500 + service tax and other applicable statutory levies per instance
Solvency Certificate  Rs. 10000/-
No Due Certificate NIL  Rs. 500 + service tax and other applicable statutory levies per instance
Charges for furnishing a copy of the credit information report (CIBIL) to the applicant.  Rs. 50/-  Rs. 50 + service tax and other applicable statutory levies per instance
Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule) Once yearly without any charge. Post that Rs. 250 per request. Once yearly without any charge. Post thatRs. 250 per request+ service tax and other applicable statutory levies

Personal Loan EMI Calculator

Personal Loan EMI calculator helps you to determine the monthly installment to be paid. You can input the personal loan amount and tenure in the EMI calculator to see the EMI that you have to pay towards your personal loan amount.

 

How to Use Personal Loan EMI Calculator

  • Move the slider to select the amount you wish to borrow (Min INR 50,000 and Max INR 15,00,000)
  • Personal Loan EMI Calculator automatically uses pre-determined interest rate set by the bank
  • Select the tenure (Tenure ranging from 12 to 60 months). The EMI reduces when the duration increases and vice versa.

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