Indiabulls Personal Loan offers funds for salaried employees, Self employed Professionals and self employed individuals. It provides loan amounting to Rs 1,000 to maximum of Rs. 15 Lacs within 3 minutes with a Processing fee of 1.50% to upto 5% of the loan amount.
The Annual Interest Rate ranging from 11.99% to upto 26% per annum and the loan term is 3 months to 72 months. The Pre-Payment charges are 5% of the principal outstanding, and for loans upto Rs. 20,000 no Pre-Payment Charges will be applied.
|Indiabulls Personal Loan|
|Annual Interest Rate||11.99% - 26%|
|Loan Term||3 Months - 72 Months|
|Loan Amount||Rs. 1,000 - Rs. 15 Lacs|
|Time of Funding||Within 3 minutes|
|Pre-Closure Charges||5% of the principal outstanding|
|Personal Loan Type||Applicable Interest Rate|
|Indiabulls Dhani Personal Loan||11.99% - 26% per annum|
|Age||21 Years Minimum|
|Total Work Experience||Minimum 2 Years
Indiabulls would be a good alternative for you if you need a minimal amount of money as it offers personal loan as low as Rs. 1,000 within few minutes of applying for a loan.
If you're in emergency and needs funds instantly, then Indiabulls is a great choice. You can avail funds within 3 minutes simply applying through your phone using Aadhar ID and PAN Number.
Indiabulls Personal Loans offers instant disbursal on personal loan. If you are eligible for the loan, you will get funds starting from Rs. 1,000 to upto Rs. 15 Lacs on your bank account instantly.
It's a simple, convenient and quick process as while applying for this type of loan, only Aadhar ID and PAN Number is required. Hence, there is no need to provide any kind of document.
It looks like a profitable deal for you as If you want to apply for a loan which is less than Rs.20,000, no prepayment charges will be applied.
You are not allowed to change the payment due date after the process of disbursing as compare to other banks like HDFC which allows you to shift the Payment due date.
As per the IVL Finance Pvt Policy, the Part-payment is not allowed before the 1st EMIs which means you will be allowed once the EMIs have been started.
|Bank Name||Indiabulls||Capital First||HDFC Bank|
|Typical APR||11.99% - 26% per annum||12% - 18%||11.39% - 20.99%|
|Loan Term||3 Months - 72 Months||12 months - 60 months||9 Months - 60 Months|
|Maximum Lending Amount||Rs. 15 Lacs||Rs. 25 Lacs||Rs. 50 Lacs|
|Processing Fee||1.50% to 5% of the loan amount||Up to 1.50% of the loan amount||Up to 2.50% of the loan amount|
|Time to Funding||Within 3 minutes||Within 24 hours of Approval||Within 4 hours of Approval|
|Pre-Closure||5% of the principal outstanding||5% of the Principal Outstanding||2% to 4% of principal outstanding|
Coming to the comparison part, Indiabulls Personal Loan offers maximum lending amount of Rs. 15 Lacs with a time funding of 3 minutes to that of Capital First, which lends maximum of Rs. 25 Lacs within 24 hours of approval and HDFC can lend upto Rs. 50 Lacs within 4 hours of approval. Indiabulls charges Processing Fees ranging from 1.50% to upto 5% of the loan amount while Capital First charges upto 1.50% of the loan amount and in case of HDFC, the Processing Fees is upto 2.50% of the loan amount. The Typical APR of Indiabulls is ranging from 11.99% to upo 26% per annum while in Capital First, its ranging from 12% to 18% and 11.39% to upto 20.99% in case of HDFC Bank. The Loan Term in Indiabulls is 3 Months to upto 72 months, 12 Months to upto 60 Months in Capital First and in case of HDFC, the loan term is 9 Months to upto 60 Months. The Pre-Closure charges in Indiabulls and Capital Market is 5% of the Principal Amount and in case of HDFC Bank, its 2% to 4% of the Principal amount.
It provides Personal Loan for both salaried and self-employed (Professionals and Businessman). You can avail loan amounting from Rs. 1,000 to Rs. 15 Lacs with Tenure ranging from 3 Months to upto 72 Months.
|Type of Charges||Applicable Amount|
|Processing Charges||1% to 5% of the loan amount|
|Foreclosure Charges||5% of the principal outstanding|
|Penal Charges||3% per month on the overdue amount|
|EMI Bounce Charges||Rs. 400|
|Repayment Instrument Swapping Charges||Rs. 500 per instance|
|Duplicate NOC||Rs. 500 per copy|
The applicable Processing Charges on Personal Loans in Indiabulls ranging from 1% to upto 5% of the loan amount and the foreclosure charges ranging from 5% of the principal amount which is allowed only after first 6 months. The EMI Bounce Charges are Rs. 400 per instance and the Penal Charges are 3% per month, charges Rs. 500 per instance for the Repayment Instrument Swapping and charges Rs. 500 per copy for the Duplicate NOC. The Stamp Duty charges for loan documentation is as per the applicable laws.
You will receive your documents, loan agreement, Sanction letter on your registered email address at the time of loan disbursement.
At the time of closure of the loan, your CIBIL report will be updated by the Bank itself at the end of the closing month.