Overview
Aditya Birla Capital offers you personal loan for almost any reason under the sun starting from Rs. 25,000 to as high as Rs. 15 Lacs. No need to stuck in tiresome procedures as you can get funds within 30 minutes of approval. The Processing Fee charged by bank is 2% of the loan amount. You are required to pay your loan amount within 6 months to up to 36 months which is quite a short period of time.
If you are rid of paying unnecessary prepayment fees charged by banks then take a look at Aditya Birla Capital as this Bank does not charge any Prepayment fees. The interest rate charged by banks is ranging from 14% to up to a maximum of 26% per annum. The penal fee charged by the bank is 24% per annum or 2% per month on the overdue amount, Rs. 750 per instance for EMI Bounce Charges and Rs. 750 per instance for swap charges. The NOC issuance charges are Rs. 500. If you have any financial difficulty or want to reschedule the loan, then you have to pay a certain fee as a loan rescheduling charge which is 0.50% or as mutually agreed with the lender.
Aditya Birla is a good fit for you if?
If You’re Salaried
Are you a salaried employee who wants to avail a small amount of money? Then this could be a good alternative for you as no pre-closure fee is charged by Aditya Birla Capital on a Personal loan. So if you have planned to repay the loan before the due date, then this could be the best option for you.
Bandhan Bank Personal Loan at a glance
| Annual Interest Rate | 14% – 26% per annum |
| Loan Term | 6 Months – 36 Months |
| Loan Amount | Rs. 25,000 – Rs. 15 Lacs |
| Time of Funding | Within 30 minutes |
| Pre-Closure Charges | Nil |
Aditya Birla offers a personal loan of a minimum of Rs. 25,000 to up to a maximum of Rs. 15 Lacs within just 30 minutes which is quite a short period. The tenure to repay the loan amount is 6 months to as long as 36 months. The interest rate charged by this bank varies from 14% to up to 26%. There are no Pre-Payment charges charged by Aditya Birla on personal loans which is a good thing as compared to other competing banks and financial institutions such as ICICI Bank which charges 5% per annum of principal outstanding.
Why Choose Aditya Birla?
No Prepayment Charges
Are you rid of paying unnecessary fees charged by banks? Have a look at Aditya Birla Capital. Unlike other banks or financial institutions charging an unnecessary fee on pre-payment charges, like ICICI Bank which charges 5% per annum of principal outstanding, or HDFC Bank which charges 2% to up to 4% per annum, Aditya Birla does not charge any fee on pre-payment. So you can take advantage of this and can apply for this bank.
Quick Online Approval
If you have an urgent requirement of a loan, then no need to be stuck in tiresome procedures as Aditya Birla Capital offers approval on the online application as quickly as within 30 minutes of application. So do not waste your time on lengthy procedures and apply for your personal loan from Aditya Birla for instant approval.
What to watch out for?
No Loan if You have Credit Score lower than Good
Almost every lender needs your credit score to check whether you are good for a personal loan or not. So if you want to apply for a personal loan from Aditya Birla capital, then you must know that this bank offers personal loans to only those applicants who are having good credit scores or a credit score of more than 750 points. So applying for a personal loan from Aditya Birla is not applicable for all borrowers.
High-Interest Rate
The interest rate charged by Aditya Birla is ranging from 14% per annum to and goes as high as 26% per annum, which is quite high as compared to other competing banks or financial institutions such as Bajaj Finserv which charges an interest rate of 12.99% to up to a maximum of 18% per annum, while 15.5% per annum to 24% per annum in case of Axis Bank.
Less Repayment Period
If you have financial problems or any other problem and you are unable to pay the amount within 36 months, then applying for a loan from Aditya Birla could not be a good fit for you as here, the tenure to repay your loan is ranging from 12 months to up to a maximum of 36 months which is quite a short period of time as compared to other competing banks such as Bajaj Finserv and Capital First offering maximum tenure ranging from 60 months to long as 96 months or 5 years to as long as 8 years depending upon the borrowers profile.
Compare Aditya Birla Personal Loans to Other Banks
| Bank Name | Aditya Birla | Bajaj Finserv | Capital First |
| APR | 14% – 26% | 12.99% – 18% | 12% – 18% |
| Loan Term | 6 Months – 36 Months | 12 Months – 96 Months | 12 Months – 60 Months |
| Maximum Lending Amount | Rs. 15 Lacs | Rs. 35 Lacs | Rs. 25 Lacs |
| Processing Fee | 2% of the loan amount | Up to 3% of the loan amount | Up to 1.50% of the loan amount |
| Time to Funding | Within 30 minutes | Within 24 hours of Approval | Within 24 hours of Approval |
| Pre-Closure Fee | Nil | Zero to Upto 4% | 5% of the Principal Outstanding |
It is good to compare the offers or fees charged by various banks before you settle on one. Starting from the maximum lending amount, Aditya Birla lends a Personal loan of up to Rs. 15 Lacs while Bajaj Finserv can lend up to Rs. 35 Lacs and Rs. 25 Lacs in case of Capital First. Aditya Birla provides loans within 30 minutes as compared to other Banks such as Bajaj Finserv and Capital First which lend funds within 24 hours of approval. The tenure to repay the loan amount is 6 months to up to a maximum of 36 months, 12 months to as long as 96 months in the case of Bajaj Finserv, and 12 months to up to 60 months in the case of Capital First.
The Processing fees charged on personal loans vary from bank to bank. Aditya Birla charges a processing fee of 2% of the loan amount, while in the case of Bajaj Finserv, it is 3% of the loan amount and up to 1.50% of the loan amount in the case of Capital First. The typical APR charged by Aditya Birla ranges from 14% to up to 26% per annum, while Bajaj Finserv charged 12.99% to up to 18% per annum, and in the case of Capital First, it charges 12% to up to 18%. The advantage of applying for a personal loan from Aditya Birla is that it does not charge any pre-closure fees as compared to other banks such as Bajaj Finserv which charges zero to up to 4% and Capital First charges 5% of the principal outstanding.
Bandhan Bank Personal Loan Eligibility Criteria
| Minimum Age | 23 Years |
| Maximum Age | 60 Years |
- Minimum age of the applicant should be at least 23 years at the time of loan application.
- Maximum age of the applicant should not be more than 60 years at the time of loan maturity.
Aditya Birla Personal Loans Schemes
Aditya Birla Personal Loan
Aditya Birla offers personal loans as high as Rs. 15 Lacs to salaried individuals only with a tenure to repay the loan amount within 6 months to up to 36 months. The processing fees charged by Aditya Birla Bank equal 2% of the loan amount and the interest rate ranging between 14% to up to a maximum of 26% per annum.
Documents for Salaried
- Copy of PAN Card
- Last 6 months’ Salary Account statement
- Last 3 months’ salary slip/certificate along with Form 16
- KYC documents as requested.
- Processing Fee Cheque
Documents for Self-Employed
- Copy of PAN Card
- Business Finance documents such as Balance Sheet for Last 2 years.
- Last 2 years ITR with computation of Profit and Loss
- KYC documents as requested.
- Latest 12 months Bank Statement (Both Business and Savings)
- Processing Fee Cheque
Aditya Birla Personal Loan Interest Rates
| Personal Loan | Applicable Interest Rate |
| Bandhan Bank Personal Loan | 14% – 26% per annum |
The applicable Interest rate charged by Aditya Birla is ranging from 14% to up to a maximum of 26% per annum however, many other government sector banks and private sector banks charges a high amount of interest rate such as Axis Bank charging 15.5% to up to 24% per annum and HDFC Bank which charges 11.39% to up to 20.99% per annum.
Aditya Birla Personal Loans Fees & Charges
| Type of Charges | Applicable Charge |
| Processing Charges | For Personal Loan: Nil For Personal Loan Balance Transfer: Rs. 1000 per instance |
| Penal Interest | 24% per annum (2% per month) on the overdue amount |
| EMI Bounce Charges | Rs. 750 per instance |
| Swap Charges | Rs. 750 per instance |
| NOC Issuance Charges | Rs. 500 |
| Loan Rescheduling | 0.50% or as mutually agreed with the lender |
Aditya Birla charges a processing fee which is equal to 2% of the loan amount. There are no foreclosure fees charges on Pension loans but charges Rs. 1,000 per instance for personal loan balance transfer which is allowed after 6 months of approval. The penal charges charged by the bank are 24% per annum or 2% per month on the overdue amount.
The EMI bounce charges charged by Aditya Birla are Rs. 750 per instance and the swap charges are Rs. 750 per instance. The bank charges Rs. 500 as a NOC Issuance fee and if you have any financial difficulty or want to reschedule the loan, then you have to pay a certain fee as a loan rescheduling charge which is 0.50% or as mutually agreed with the lender.
After I Applied?
Check Loan Status
- Through Online Tracking Page
- Click here to go to status tracking page of aditya birla personal loan.
- Enter your application number and pan card number, then ‘’SUBMIT’’
- Through Customer Care
- Dial 1800-270-7000
- Press 1 to continue in English and Press 2 for Hindi or any other regional language
- Now Press 2 and wait for the customer care executive to connect your call to them.
FAQs
How can I contact Aditya Birla customer care support?
You can call them on their toll-free number which is 1800-270-7000 or you can mail them at care.finance@adityabirlacapital.com
Can I have co-applicant on my personal loan?
Yes, co-applicant is allowed to enhance eligibility criteria.
What is the current MCLR rate applicable on Aditya Birla personal loans?
The current applicable MCLR rate applicable on Aditya Birla Personal loan is 16.60% per annum for a loan with a maximum of 12 months tenure and 17.35% per annum for up to loans more than 12 months tenure.