Personal Loans in Dehradun

Dehradun Personal Loan Interest Rates and Charges

Comparing different lеndеrs should always be a primary step for applying for an instant personal loan in Dеhradun. With various lеndеrs operating in thе city, customers have many options. Some top financial institutions havе Dеhradun Pеrsonal Loan intеrеst ratеs and chargеs.

Bank Name	Interest Rate	Processing Fee	Loan Amount
HDFC Bank	10.50% - 21.50%	Up to 2.50%	Rs. 50,000 - Rs. 40 lakh
ICICI Bank	10.75% - 18.49%	Up to 2.25%	Rs. 50,000 - Rs. 20 lakh
Axis Bank	12.00% - 24.00%	Up to 2.00%	Rs. 50,000 - Rs. 15 lakh
Bajaj Finserv	12.99% - 16.00%	Up to 3.99%	Rs. 1 lakh - Rs. 25 lakh
IndiaLends	10.75% - 35.00%	Varies	Rs. 25,000 - Rs. 50 lakh
Kotak Mahindra Bank	10.75% - 17.99%	Up to 2.50%	Rs. 50,000 - Rs. 20 lakh
IDFC First Bank	10.49% - 32.00%	Up to 3.50%	Rs. 1 lakh - Rs. 40 lakh
IndusInd Bank	10.49% - 30.00%	Up to 2.50%	Rs. 50,000 - Rs. 15 lakh
RBL Bank	14.00% - 23.00%	Up to 3.00%	Rs.1 lakh - Rs.20 lakh
Citibank	10.99%-16.49%	Up to3 .00 %	Rs .25,000-Rs .30lakh

Best Personal Loan offers in Dehradun from top Banks/NBFCs

When you need a product from a market, the first thing you look for is a brand name that is popular and relevant. Moreover, when it comes to Personal Loans in Dehradun, some top names pop up. These names include HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finserv, and IndiaLends. Each bank has lucrative financial products catered to the needs of its customers that could meet their vast needs and requirements. These banks' personal loan offers for their customers can be summarised as follows. 

Bank	Loan Amount	Interest Rate (Starting)	Processing Fee	Loan Tenure	Special Features
HDFC Bank	Up to Rs. 40 lakh	10.75% p.a.	Up to 2.5%	Up to 60 months	Instant approval and disbursal for existing customers.
ICICI Bank	Up to Rs. 20 lakh	11.25% p.a.	Up to 2.25%	Up to 60 months	Pre-approved personal loans for select customers with minimal documentation and quick disbursal.
Axis Bank	Up to Rs. 15 lakh	12% p.a.	Up to 2%	Up to 60 months	Flexible repayment options and balance transfer facility for personal loans.
Bajaj Finserv	Up to Rs. 25 lakh	12.99% p.a.	Up to 3.99%	Up to 60 months	Collatеral-frее pеrsonal loans with no hiddеn chargеs and onlinе account accеss.
IndiaLends	Up to Rs. 50 lakh	10.75% p.a.	Varies	Up to 60 months	Online platform connecting borrowers with lenders, offering instant approval and disbursal with minimal documentation and options from multiple lenders.

Who Can Apply for a Personal Loan in Dehradun?

Here are the standard conditions to qualify for a personal loan in Dehradun:

Age: Each lender has its specifications about age brackets. Some prefer 21 to 65, while others prefer 23 to 70. The upper and lower limits keep changing as per bank policy. 

Employment Type & Stability: It is considered ideal when an applicant has a stable job with a certain number of years of experience. Banks find such individuals as a low-risk profile. Moreover, in the case of self-employment, turnovers are assessed.  

Minimum Monthly Income: Lenders usually set a minimum monthly income to ensure applicants can manage loan repayments. This amount may vary based on the city (with higher requirements in metros) and the lending institution.

Credit Score: Having a good credit score, typically 750 and above, improves the chances of loan approval and may lead to better terms and interest rates. However, some lenders might offer loans to those with lower credit scores at higher interest rates.

Existing Debt Obligations: The debt-to-income ratio matters. If an applicant already has substantial monthly obligations (like other EMIs), it could affect eligibility. Lenders prefer borrowers with a lower ratio to ensure they can handle the new loan repayment.

Residential Proof: Many lenders require stable residency, either owned or rented. In some cases, the duration of stay in a specific city or address may also be considered.

Work Experience: Total work experience and the duration with the current employer matter for salaried employees. The number of years in the current business is crucial for self-employed individuals.

Required Documents for Personal Loan in Dehradun

Document submission is still necessary when you apply for a personal loan in Dehradun. And just like personal loans anywhere else, the documents are similar. You must prove your identity and address while establishing that you have the capacity of income to pay off the loan. Here is a list of general things required when you apply for a personal loan in Dehradun. 

• You must submit a document proving your identity.
• To establish your address, you must provide a document such as an electricity bill.
• Your salary slip, bank statements, income tax return, Form 16, or equivalent documents..
• A passport-sized photo.
• You'll likely need to provide a cheque or a demand draft for the processing fee and the loan amount.

How to Apply for Personal Loan Online In Dehradun?

Applying for a personal loan in Dehradun isn’t different from applying for a personal loan elsewhere. The overall pattern is similar to researching your financial institutions, applying online or offline by filling out their application, providing documents, waiting for approval, and collecting your loan. However, the most important step remains the repayment. Pay back your EMIs on time to improve your credit score. Here is a brief about how to apply for a personal loan in Dehradun. 

• Choose a reputable lender in Dehradun that offers personal loans. Use online tools like Urban Money’s calculators to compare rates, fees, and eligibility.
• Complete the online application with personal and financial details like your name, age, income, PAN card, Aadhaar card, and bank statements. Upload necessary documents for verification.
• Apply and wait for approval. Approval times vary based on the lender and your credit history. Some lenders offer instant approval and funds disbursement, while others may need additional verification.
• Upon approval, carefully review the loan agreement detailing terms and conditions. Sign it digitally or physically, and arrange for loan repayment through auto-debit or post-dated cheques.
• After the agreement, expect the loan amount in your bank account within 24 hours or as per the lender’s policy. Utilise the funds for your intended personal or professional use.

How to Choose the Right Personal Loan in Dehradun?

Getting an apt personal loan in Dehradun can be challenging but possible. Much has to be assessed on a personal level as much as on a market level. Borrowers know what they want but must also gauge their financial capacity to repay a loan. That’s how things should ideally begin. Use tools like Urban Money’s Personal Loan Eligibility Calculator to find the correct amount of financial assistance you would require. Moreover, to choose the right personal loan in Dehradun, follow the tips below. 

• Take a list of lenders and compare their interest rates. This will be the core expense you will incur during your repayment tenure. It’s best if you can find the lowest possible interest rate offer. 
• Look for other charges like processing fees, foreclosure penalties, prepayment penalties, EMI default penalties, etc. These charges will be the additional expenses on top of interest. Find the ones with an ideal policy suitable to your financial situation.
• Use Urban Money’s Personal Loan EMI calculator to assess how much loan amount and repayment tenure will be ideal for you. 
• Familiarise yourself with the documents you must present to the lender while applying. It will be ideal to prepare these documents when applying to avoid delays. 
• Check online websites to fast-forward the application process.