Bandhan Bank offers versatility whether you’re looking for a personal loan, a business loan, or a home loan. The Bandhan Bank personal loan starts at an interest rate of 8.86% p.a. with a flexible tenure of 60 months. The loan process is quick and takes only two days for crediting your loan amount.
Bandhan Bank Personal Loan Details
Before getting a loan, it’s important to get all the necessary information. To make this process easier, you can find all the information about Bandhan Bank personal loan interest rates and other details below.
| Interest rate | Starting at 8.86% p.a. |
| Loan Amount | ₹ 50,000 – 25 lakhs |
| Tenure | 12 – 60 months |
| Processing Fee | Up to 3% |
Bandhan Bank Personal Loan Interest Rates & Charges
Bandhan Bank provides loans for individuals who need personal loans for various purposes. Like any other bank, Bandhan Bank also has fees and charges that are levied while taking a personal loan. The table below illustrates the interest rates and charges levied on their personal loans.
| Description | Charges |
| Interest Rate | Starting at 8.86% p.a. |
| Processing Fee | Up to 3% p.a. |
| Late Payment | 2% per month on outstanding EMI |
| Cheque Bouncing | ₹500 |
| Foreclosure Statement | ₹100 |
| Document Retrieval Charges | ₹500 |
| Duplicate Statement of Account | ₹100 |
| Duplicate NOC | ₹300 |
| Stamp Duties | As per state law |
Note: For all charges, tax will be charged extra wherever applicable.
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Some Other Charges:
- Part Payment Charges: Part payment allowed up to 25% of Principal Outstanding, only once in a year and twice during Loan Tenure (only after repayment of first 12 months EMI)
- Foreclosure charges on fixed rate:
- 4% of the principal outstanding within the first 12 months.
- 2.5% after 12 months of repayment
- No foreclosure charges for loans disbursed of Rs 10 Lacs and above, after 12 EMI, if foreclosed with own funds.
- For foreclosure of loans disbursed under Personal Loan for Bandhan Bank staff of ₹10 Lacs, there will be a 1% foreclosure charge of principal outstanding (normal rates are applicable for non-banking staff).
Loan EMI Calculator
Bandhan Bank offers a personal loan service for individuals seeking financial assistance. With the Bandhan Bank Personal Loan EMI Calculator, borrowers can easily determine their Equated Monthly Instalments (EMIs) based on loan amount, interest rate, and tenure.
Your Amortization Schedule (Yearly/Monthly)
This helps in planning monthly budgets and ensuring comfortable repayment. Bandhan Bank provides competitive interest rates, flexible tenure options, and a convenient application process, making it a reliable choice for various personal financial needs.
Bandhan Bank Personal Loan Eligibility
The eligibility criteria is simple and accommodative to everyone above the age of 18. Both salaried and self-employed people can take this loan. The table below provides an overview of eligibility criteria for Bandhan Bank personal loans.
Eligibility Criteria for Salaried Employees:
- Age Group: 21 yrs to 60 yrs
- Work Experience: a minimum of 1 transaction (customer induced) is required in the main account on a monthly basis. The main account may not be a salary account
Eligibility Criteria for Self-Employed Professionals & Individuals:
- Age: 23 yrs to 60 yrs
- Work Experience: Minimum 1 debit and 2 credit transactions (customer induced) required on a monthly basis or 12 credit transactions in the last 12 months. (In the main account only)
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Documents Required
Bandhan Bank’s loan process requires certain documents to possess your loan application. Documents are an important aspect in getting a loan; they allow lenders to understand their clients and provide loans.
| Identity Proof | PAN Card, Voter ID, Driving License, Passport |
| KYC | Valid identity/residence/signature proof |
| Banking | Latest 3 months’ salary credited bank statement. |
| Photo | One recent photograph |
Documents Based on Employment Status:
- For Salaried Employee: Last three months’ salary slip & Form-16 for 1 year
- For Self-Employed: ITR for the last 2 years with computation of income, balance sheet, and P & L a/c.
Comparison of Bandhan Bank Personal Loan vs. Other Banks
Getting a loan can be tough and even more confusing when there are so many options, which is why it is important to compare and understand which option is the best for your needs.
Here is a table showing the comparison of Bandhan Bank personal loan rates and fee charges with other banks:
| Lender | Interest Rates | Processing Fees |
| Bandhan Bank | 8.86% onwards | Up to 3% |
| IndusInd | 10.49% onwards | Up to 3.5% |
| SBI | 10% onwards | Up to 1.5% |
| HDFC | 9.99% onwards | Up to ₹6,500 |
| ICICI | 9.99% onwards | Up to 2% |
| Axis | 9.99% onwards | Up to 2% |
| Yes Bank | 10.85% onwards | Up to 2.5% |
| Shriram City | 11% onwards | Up to 5% |
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Features of Bandhan Bank Personal Loan
Bandhan Bank Personal Loan offers flexible borrowing options for eligible customers who need funds for different personal expenses. Some key features include:
- Loan amount up to ₹25 lakh: Eligible borrowers can apply for this loan ranging from ₹50,000 to ₹25 lakh.
- Flexible repayment tenure: You can repay the loan over a tenure of up to 5 years, depending on the approved loan terms.
- Unsecured loan: This is an unsecured loan, so borrowers generally do not need to provide collateral.
- Part-payment facility: Borrowers can make part payments after completing the first 12 EMIs, subject to the bank’s terms.
- Simple repayment structure: The loan follows an EMI-based repayment process, helping borrowers plan monthly payments.
- Multiple personal uses: You can use a personal loan for eligible personal financial needs, subject to Bandhan Bank’s loan terms and approval.
Bandhan Bank Personal Loan with Buddy Loan
- Step 1: Visit buddyloan.com or download & install the Buddy Loan app (Android or iOS)
- Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount. Next, choose the Personal Loan option
- Step 4: Choose the employment type (salaried or self-employed) and the salary mode (bank or cash).
- Step 5: Enter your work details (including company name, years of service, and designation)
- Step 6: Enter your personal details (including full name, PAN, address, DOB & gender)
- Step 7: Provide your communication address and income details, and click the ‘Submit’ button.
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