AU Small Finance Personal Loan Interest Rates

Personal loans up to Rs 7.5 lakh are available from AU Small Finance Bank with terms ranging from 12 to 60 months. The AU Small Finance Bank offers personal loans with interest rates that can reach 30% per year. The bank also provides existing clients with advantageous interest-rate personal loans that don't require any paperwork. The AU Small Finance Bank offers discounted processing costs and lending rates to its royale clients. Moreover, the bank provides speedy disbursements for online loan applications.

AU Small Finance Bank SBI Personal Loan Interest Rate by Schemes

AU Small Finance Bank offers only 1 type of personal loan to its customers. 

Personal Loan

The interest rates on AU Small Finance Bank's personal loans are not known. But, similar to other lenders, the small finance bank may also take into account the customer profile of the loan application when determining the interest rates for personal loans, including the applicant's credit score, monthly income, job profile, employer's profile, etc. Listed below are its features:

Features:

• All-in-one Loans which can be used for any kind of personal use by the applicant
• Collateral Free Loan
• An Easy Documentation
• Time Period can be Decided by the Applicant

AU Small Finance Bank Personal Loan Interest Rates for Salaried and Self-Employed

Kotak provides personal loans with starting interest rates which are extremely low for professionals who are salaried employees as well as self-employed individuals. Depending on the applicant's history, credit score, and other crucial elements including their income, age, and repayment history, among other things.

AU Small Finance Bank personal loan interest rate for salary account

Customers who have a personal loan account with AU Small Finance Bank are eligible for a variety of benefits. Interested candidates can go to the bank's official website and provide specific information to learn if they are eligible for a personal loan that has already been pre-approved. AU Small Finance Bank provides pre-approved personal loans to consumers with good credit ratings and a track record of timely repayment, just like other lenders. Interest rates for salary accounts at the AU Small Finance Bank start at a good interest rate annually.

AU Small Finance Bank pre approved personal loan interest rate

A person may be qualified for a AU Small Finance Bank personal loan with a pre-approved lower interest rate if they have a good credit score and all the necessary documentation. Customers can quickly acquire a personal loan interest rate that the AU Small Finance Bank has pre-approved.

AU Small Finance Bank Personal Loan Balance Transfer Interest Rates

Transferring your active personal loan from one bank to another is referred to as a personal loan balance transfer. It is a useful convenience because it allows you to save money. Even a 0.50 to 1% shift in the interest rate will drastically lower your EMIs and result in additional cost savings, depending on how much of the current loan is still owed.

AU Small Finance Bank Personal Loan Interest Rates and Charges

Before applying to the AU Small Finance Bank Personal Loan, you should familiarise yourself with the applicable fees and charges. It would be simpler for you to determine the overall cost of the borrowed money if you are aware of these.

AU Small Finance Bank Personal Loan Highlights 2023
Interest rates	Based on customer profile
Loan amount	Rs 7.5 Lakh
Loan tenure	12-60 months
Minimum age	25 years
Processing fee	Up to 5% of the loan amount

Factors Affecting AU Small Finance Bank Personal Loan Interest Rates

The amount of the loan given to the applicant and the interest rate at which it is provided could be affected by a variety of circumstances. The most important factors that affect the amount of the loan and the interest rate offered to the applicant are listed below:

Connection with the Bank

You may be granted benefits that new clients may not be if you already have an account with the bank. Better interest rates, quicker processing, pre-approved loans, etc. are a few of these.

Credit Rating

A high credit score may enable you to negotiate better terms with the bank. Your risk of loan default is lower because a high score shows consistent repayment and wise credit use. Low risk borrowers are preferred by banks.

Stable Employment and Good Earnings

A reliable source of income is a stable job. Additionally, employment with a reputable company suggests job security. Your chance of defaulting on a loan is thought to be lower if you make more money. All of these may result in a lower interest rate for you.

Loan Duration

You may occasionally be able to receive a lower rate by selecting a longer loan repayment duration.

How to Calculate AU Small Finance Bank Personal Loan Interest/EMI

One may precisely calculate the interest/EMI on the personal loan using the AU Small Finance Bank's personal loan EMI calculator; all that is required is the entry of a few simple loan details (Equated Monthly Instalment).

OR

One can use the following formula to calculate the EMI:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

How to Get Low Interest Rates on AU Small Finance Bank Personal Loan?

The best personal loan offer with the lowest interest rate must be selected. Doing this can lower your overall debt and allow you to access a manageable and affordable EMI plan. These five suggestions are recommended:

• Maintaining a very high personal loan eligibility to get the greatest interest rate is the simplest thing to do. The key is often to have a good credit score—one that is over 750. 
• Try to lower your total debt by foreclosing on some of your loans to less than 40% of your monthly income before taking out a personal loan.
• Check whether a lender offers quick disbursement or hassle-free digital application processes. As a result, the AU Small Finance Bank offers quick, paperless personal loan disbursals to all customers. 
• Watch your email and SMS messages for any holiday or seasonal promotions from your present lenders. 
• You can negotiate for a lower personal loan interest rate by using the goodwill of your job or your professional standing.

Documents Required for AU Small Finance Bank Personal Loan

The following are the main documents needed to apply for a personal loan from the AU Small Finance Bank:

• Identification documents such as a passport, PAN card, Aadhaar card, voter ID, and a driver's licence (anyone).
• As evidence of residency, provide a utility bill, passport, rental agreement, etc (anyone).
• The most recent three-month bank statement with details on income
• Past three months’ salary slip
• 2 to 3 passport-size pictures