Ujjivan Small Finance Personal Loan Interest Rates

4.5

Ujjivan Small Finance Bank provides personal loans to help you meet your financial obligations. You can get a loan between INR 50,000 and 1.5 lakhs at an attractive interest rate. The repayment period ranges from one to five years. The loan amount, the repayment period, and your credit score will determine the bank's interest rate. Personal loans are available from the bank to both salaried and self-employed individuals.

  • Personal Loan offer for You

  • 11.49% - 16.49%

    Interest Rate (p.a.)
  • ₹1L - ₹30L

    Tenure(1 - 3 Years)
  • ₹2,199 - ₹2,458

    EMI Per Lakh
  • 11.49% - 16.49%

    Interest Rate (p.a.)
  • ₹1L - ₹30L

    Tenure(1 - 3 Years)
  • --

    Processing Fee

Compare Ujjivan Small Finance Bank Personal Loan Interest Rates with Other Lenders

The table below compares Ujjivan Small Finance Bank Personal Loan Interest Rates with other banks and lending institutions.
  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • CASHe PL Interest Rate

  • 27%

  • We offer a 2.50% interest rate per month (Equivalent to reducing the balance interest rate to 3.71% per EMI) on the loan amount.

  • 4.5

  • ₹1K - ₹4L

    Tenure(7 - 45 Years)

  • Prefr PL Interest Rate

  • 15% - 36%

  • 3-5% with Minimum Proc. Fee of INR 1500 + GST

  • 4.5

  • ₹50K - ₹5L

    Tenure(1 - 4 Years)

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Ujjivan Small Finance Bank has a presence throughout 24 Indian States and Union Territories while possessing a customer base of 59.7 lakh individuals and more than 575 touch points for banking. It has 16,251 employees on its rolls as of September 30, 2021, with a steady presence in 248 districts. Ujjivan Small Finance Bank Personal Interest Rates currently range between 16.50% - 20.00% per annum. 

Ujjivan Small Finance Bank Personal Loan Interest Rate

The Ujjivan Small Finance personal loan offers a variety of personal loan options to the customers to provide funds, which allows them to pursue their projects. The funds raised can be employed for various reasons, such as weddings, higher education, home renovation and medical emergencies. The interest rates on personal loans range from 16.50% per annum to 20.00% per annum. 

Ujjivan Small Finance Bank Personal Loan Scheme

Ujjivan Small Finance Bank offers personal loans to its customer base in India for various reasons, such as medical emergencies, education or concluding home renovation projects.  

The Ujjivan Finance Bank Personal Loan schemes allow loan applicants to raise funds without collateral. 

Interest Range  16.50% - 20% per Per annum 
Processing Fee  2% of the loan amount 
Loan Amount  Rs 15 Lakhs 
Tenure  1 - 5 Years 

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

The Ujjivan Small Finance Bank Personal Loan interest rates range from 16.50% to 20% annually. However, the interest offered varies based on factors such as the CIBIL score, credit history and financial standing of the applicant. 

Ujjivan Small Finance Bank Pre-approved a Personal loan Interest Rate.

To gain knowledge of the Ujjivan Small finance bank pre-approved interest rate. An applicant can reach out to the lending institution through various established channels. 

Ujjivan Small Finance Bank Personal Loan Rate Comparison with Other Banks {API}

The table below compares Ujjivan Small Finance Bank Personal Loan Interest Rates with other banks and lending institutions. 

Ujjivan Small Finance Bank Personal Loan Balance Transfer Interest Rates

To gain knowledge of the Ujjivan Small finance balance transfer,  an applicant can contact the lending institution through various established channels. 

Ujjivan Small Finance Bank Personal Loan Interest Rates and Charges

Ujjivan Small Finance Bank offers personal loans at competitive interest rates. The interest rate commences from 16.20%. However, it is to be noted that it may vary based on the applicant’s credit profile and income. The bank also charges a processing fee of up to 2.50% of the loan amount and a prepayment penalty of 2.00%. The repayment tenure for personal loans can range from 12 to 60 months.

Factors Affecting Ujjivan Small Finance Bank Personal Loan Interest Rates

Factors Affecting Ujjivan small finance bank Personal Loan Interest Rates 

  1. Credit Score: Ujjivan Small Finance Bank considers the borrower's credit score while calculating the personal loan's interest rate. A good credit score increases the chances of getting a loan at a lower interest rate. 
  2. Loan Amount: The higher the loan amount, the higher the interest rate applicable.
  3. Tenure: A longer tenure helps reduce the EMI and the loan interest rate. 
  4. Income: Ujjivan Small Finance Bank considers the borrower's income while calculating the interest rate. A higher income will lead to a lower interest rate on personal loans. 
  5. Profession: Ujjivan Small Finance Bank may offer a lower interest rate for certain professions such as doctors, engineers, etc. 
  6. Relationship with the Bank: Ujjivan Small Finance Bank may offer a lower interest rate to existing customers or customers who have a good relationship with the bank.

How to Calculate Ujjivan Small Finance Bank Personal Loan Interest Rates EMI

The bank employs the following formula to calculate the EMI on the Personal loan interest rates. 

EMI = [P x R x (1+R)^N]/[(1+R)^N-1] 

Where

 P = Principal Loan Amount

 R = Rate of Interest

 N = Number of Monthly Installments

  1. Visit Ujjivan Small Finance Bank’s website and check their personal loan interest rates. 
  2. Enter your loan amount, tenure, and other details to calculate your EMI. 
  3. Use the Ujjivan Small Finance Bank personal loan EMI calculator to calculate your EMI and the total amount you will pay over the loan tenure. 
  4. Consider the processing fee and any other additional charges to calculate the total cost of the loan.

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

Applicants invested to avail of lower interest rates on Ujjivan Small Finance Bank personal loan interest rates must consider the following factors. 

  1. Maintain a good credit score: The first step to getting a low-interest rate on your Ujjivan Small Finance Bank personal loan is to maintain a good credit score. A good credit score indicates to the lender that you are a responsible borrower and are likely to repay the loan on time. 
  2. Compare loan offers: It is essential to compare the available offers before opting for one. This will help you get the most competitive rates and best terms. 
  3. Negotiate with the lender: Once you have selected the loan offer that best suits your requirements, you can try negotiating with the lender for a better interest rate. This can be done by providing evidence of your good credit score or collateral. 
  4. Opt for a secured loan: Secured loans come with lower interest rates than unsecured loans, as the lender has collateral assurance. If you can provide collateral for your loan, you can get a lower interest rate.

Keynotes of the Ujjivan Small Finance Bank Personal Loan Interest Rates

Ujjivan Small Finance Bank offers personal loans at an interest rate of 14.49%-20.99% per annum. The interest rate depends on the borrower's credit score and other factors. The processing fees are 1.5% to 2% of the loan amount. The repayment tenure is up to 60 months.

Personal Loan by Other Banks

Frequently Asked Questions (FAQs)

What is the current interest rate of Ujjivan small finance bank personal loan?

The Current interest rate for the Ujjivan Small Finance Bank Personal loan varies from 16.20% to 20% per annum. 

How can I reduce my interest in Ujjivan small finance bank personal loan?

One can maintain a satisfactory CIBIL Score to reduce the Ujjivan Small Finance Bank Personal loan interest rates.

Is Ujjivan small finance bank personal loan a floating- or fixed-rate loan?

The Ujjivan Small Finance bank personal loan interest rates are fixed-rate.

Do Ujjivan small finance bank demand collateral or security for personal loans?

No, an applicant does not require to pledge any collateral on the personal loan. However, they have to go through a credit check.

Can individuals pay off their Ujjivan small finance bank loans EMI early?

The applicant must reach out to the official channels of the bank to gain knowledge on the pre-payment. 

What is the EMI for a 1 lakh personal loan?

The EMI on a personal loan of Rs 1 Lakhs is subject to an interest rate offered to the applicant ranging from 16.20% to 20.00% per annum.

What is the EMI for a 10 lakh personal loan?

The EMI on a personal loan of Rs 10 Lakhs is subject to an interest rate offered to the applicant ranging from 16.20% to 20.00% per annum.

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