Interest Rate
14 - 18.75
Processing Fee
1%
Loan amount
100000.00 - 500000.00
Tenure
5 years
Personal Loans for Salaried, Professioanls and Self-Employed Businessman.

Avail funds from Rs. 1 Lac to Rs. 5 Lacs for tenure as long as 36 months or 3 Years.

Annual interest rate from 14% to 18.75%

Enjoy 0% prepayment charges on loan preclosure, where you can make prepayment against your loan anytime after the repayment of first 6 EMIs.

Bandhan Bank Personal Loan offers you funds whether you are a Salaried-Employee, Self-Employed Professional or a Self-Employed Businessman. It provides loan starting from Rs. 1 Lacs to up to maximum of Rs. 5 Lacs within 2 working days. The Processing Fees charge is 1% of the loan amount plus GST as applicable and the tenure of this type of loan is 12 Months to maximum of 36 Months.

The Interest rate varies between 14% per annum to up to 18.75% per annum. Here, the Pre-Payment charges are Nil and you can prepay your loan after the repayment of your first 6 EMIs unlike other competing banks where the Prepayment charges are high. The charges of late payment of EMIs is 24% per annum on the total amount outstanding from the date of default.

Bandhan Bank Personal Loan at a glance
Annual Interest Rate 14% - 18.75%
Loan Term 12 Months - 36 Months
Loan Amount Rs. 1 Lac - Rs. 5 Lacs
Time of Funding Within 2 working days
Pre-Closure Charges Nil

Bandhan Bank Personal Loan Rate of Interest


Personal Loan Type Applicable Interest Rate
Bandhan Bank Personal Loan 14% - 18.75% per annum

Bandhan Bank Personal Loan Eligibility


  • Minimum age of the applicant should not be less than 21 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.
  • Applicant must have in a relationship with Bandhan Bank for at least 6 months.
  • The existing account of the applicant should be active with a monthly record of 1 transaction for credit as well as debit record.

Bandhan Bank is a good fit for you if?


If You Need Small Amount of Fund

Bandhan Bank Personal loan is a good choice for you if you need funds up to Rs. 5 Lacs within a short period of time and if you don’t want to pay a large amount of additional charges then you can go for this bank, since there are no additional fees charged by Bandhan Bank and it comes with Zero prepayment charges which can be a good option to quickly settle it.

Why Choose Bandhan Bank?


Prepayment Allowed After 6 Months

Bandhan Bank Personal loan recovers the balance of your loan just after your first 6 EMIs with applicable charges which is difference in other banks such as in TATA Capital, the Prepayment charges are up to 4% of the outstanding expenses which are allowed only after first 12 months of the loan disbursal.

Low Processing Charges

The Processing fees charged by Bandhan Bank on Personal loan is equal to only 1% of the loan amount as compared to other banks and Financial Institutions such as HDFC Bank, Axis Bank and Kotak Mahindra which charges processing fees as high as 2.50% of the loan amount.

Zero Prepayment Charges

Bandhan Bank could be a good alternative for you as there are no prepayment charges applicable for a personal loan as compare to other banks which charges a huge amount of money such as TATA Capital charges up to 4% of the principal outstanding which is allowed only after first 12 months of loan disbursal.

No Additional Charges

You can opt for this bank if you don’t want to pay unnecessary expenses as there are no additional charges. The only charges applicable for applying for a personal loan from Bandhan Bank are processing fees, penal charges, EMI bounce charges. Apart of it, no other charges are applicable unlike other banks charging various kind of charges such as documentation charges and administration charges etc.

What to watch out for?


No Personal Loan to Bandhan Bank Employees

One of the most important point which every employee of Bandhan Bank needs to know is that, the existing employee of this bank can not avail personal loan as compared to other banks which even provides benefits for their existing employees.

Maximum tenure is limited to 36 Months

The maximum tenure of loan to repay your loan amount is limited to 36 months which is quite a short period of time as compared to competing banks such as Federal Bank which lends money with a tenure of 12 months to maximum of 48 months and HDFC Bank with a maximum tenure of 60 months to repay your loan.

Maximum Loan Amount is Limited to Rs. 5 Lacs

The maximum amount of lending personal loan in Bandhan bank is limited to 5 Lacs only as compared to other banks such as Citibank, HDFC Bank, Axis Bank offering as high as Rs. 30 Lacs to Rs. 50 Lacs.

No Part-Payment Facility

Doesn’t offer facility to preclosure personal loan using part-payment method. Hence, if you don’t have enough funds to repay the entire amount at once, then you have to keep going with monthly interest rate for the set repayment period.

Compare Bandhan Bank Personal Loans to Other Banks


Bank Name Bandhan Bank Federal Bank Canara Bank
Typical APR 14% - 18.75% 11.49% - 14.49% 10.90% - 13.90%
Loan Term 12 Months - 36 Months 12 months - 48 months 12 months - 72 months
Maximum Lending Amount Rs. 5 Lacs Rs. 10 Lacs Rs. 3 Lacs
Rs. 5 Lacs for Pensioners
Processing Fee 1% of the loan amount 0.50% of the loan amount
Min Rs. 500
Zero to upto Rs. 5,000
Time to Funding Within 2 working days Within 7 days Within 7 days
Pre-Closure Nil 2% of the outstanding amount Nil

Coming to the comparison part, Bandhan Bank lends up to maximum of Rs. 5 Lacs within 2 working days as compared to other banks such as Federal Bank which offers a maximum of Rs. 10 Lacs and Canara Bank which offers a maximum of Rs. 3 Lacs and Rs. 5 Lacs in case of Pensioners. The processing fees of Bandhan Bank is 1% of the loan amount, 0.50% of the loan amount in case of Federal Bank and minimum Rs. 500, which is different in Canara bank as it charges Zero to upto Rs. 5000 processing fees. However, the typical APR in Bandhan Bank is ranging from 14% to up to 18.75%, 11.49% to 14.49% in case of Federal Bank and 10.90% to up to 13.90% in case of Canara bank. The pre-closure charges for personal loan in Bandhan Bank are Nil while in FederaL bank, it charges 2% of the outstanding amount and in case of Canara Bank, the Pre-Closure charges are Nil.

Loan Offerings


Bandhan Bank Personal Loan

It provides personal loan to both salaried-employed and self-employed whether you are Self-employed Professional or a self-employed businessman. You can avail minimum of Rs 1 Lacs to maximum lending amount of Rs. 5 lacs with the interest rate ranging from 14% to up to 18.75% per annum and no prepayment charges are applicable for applying personal loans from Bandhan Bank as compared to other banks which charges a huge amount of money such as TATA Capital charges up to 4% of the principal outstanding which is allowed only after first 12 months of loan disbursal. The only charges applicable for applying for a personal loan from Bandhan Bank are processing fees, penal charges, EMI bounce charges. Apart of it, no other charges are applicable unlike other banks charging various kind of charges such as documentation charges and administration charges etc.

Bandhan Bank Personal Loan Documentation


Documents required for Salaried Personal Loan:

  • Copy of Passport or PAN Card for Signature Proof.
  • Last 3 months’ salary slip along with Form-16 for 1 year.
  • KYC Documents along with a passport size photograph.

Documents required for the Self-Employed Professionals:

  • Copy of Passport or PAN Card for Signature Proof.
  • Last 2 years ITR along with Balance Sheet and P&L account details
  • KYC Documents along with a passport size photograph.

How to Apply for Bandhan Bank Personal Loan?


At Paisa

  • Click here to apply for personal loan.
  • Fill your details such as your name, email-id etc and then, ‘’SUBMIT’’.

At nearest Bandhan Bank Branch

  • Walkin to the nearest Bandhan Bank branch along with the loan application and KYC documents.
  • Fill in your details in the form
  • Submit this application form from any of your nearest Bandhan Bank branch.

After I Apply?


Check Loan Status Through Customer Care

  • Dial 1800-258-8181
  • Press options carefully as you will not be able to go back.
  • Press 1 for English, Press 2 for Hindi or Press 3 for regional language.
  • Press 2 for your product information, interest rate and exchange rates.
  • Wait for the customer care assistant to connect your call to them.

Once I'm Approved?


  • Receive Loan Sanction Letter
  • Receive Loan Agreement Letter

Fees & Charges


Type of Charges Applicable Amount
Processing Charges 1% of the loan amount
Foreclosure Charges
Allowed after first 6 EMIs
Nil
Part-payment Charges NA
Penal Charges 24% per annum (2% per month) on the overdue amount
EMI Bounce Charges Rs. 300 per instance

The Processing charges for personal loan in Bandhan Bank is 1% of the loan amount plus GST as applicable and no prepayment is permitted until the repayment of first 6 EMIs and here the charges for prepayment are Nil. The charges for late payment of EMIs are 24% per annum or 2% per month on amount outstanding from the date of default. The check bounce charges are Rs. 300 per cheque bounced plus GST as applicable.

FAQs


How do I connect with Bandhan Bank Personal Loan Customer Care?

You can connect with Bandhan Bank Personal Loan Customer Care either on their customer support numbers 1800-258-8181 (Toll-free) and 033-4409-9090 or their customer care email address at [email protected]

Personal Loan
1 4 5
2019-07-08

Easily Applied.

The process from application till approval was very quick and easy.

Voice your opinion

Rating

Title

Your review

Post and verify yourself with