Personal Loan in Chandigarh


Chandigarh, the city with the highest per capita income in the country stands out as a meticulously planned urban center. Renowned for its architectural brilliance, it holds a magnetic appeal. The city draws the attention of people for jobs as well as trade opportunities, hence bringing huge requirements for financial services like personal loans in Chandigarh.

Chandigarh also hosts a variety of banks and financial institutions that offer personal loans at attractive interest rates starting from just 11.99% p.a Also, the repayment tenure is flexible and extends up to 5 years.

Get the financial support that you desire as you plan to avail of a personal loan in Chandigarh with Buddy Loan by following the detailed information provided on the webpage.

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Instant Personal Loan in Chandigarh

Driven by sectors like IT, pharmaceuticals, and education, Chandigarh is the destination for individuals planning to seek better opportunities for business. Personal Loan as financial support provides you the financial assistance as you chart your path toward a promising future in the city.

Hence, the table below aims to provide you the information on interest rates, loan tenure, and other charges associated with availing of personal loan in Chandigarh.

Loan Type Personal Loan
Loan Amount ₹10,000 to ₹15 Lakhs
Tenure of Loan Up to 5 years
Interest Rates 11.99% p.a onwards
Minimum Salary ₹15,000/-

Personal Loan Interest Rates in Chandigarh

Borrowing funds through loan providers in Chandigarh depends on individuals’ requirements. Hence, before you start planning your loan term for any vital life expense, knowing the prevailing personal loan interest rates in Chandigarh along with other charges associated with the same is mandatory.

Refer to the table below to have a quick understanding of the same:

Interest rate 11.99% p.a
Processing fees 0%-6%
Pre-closure charges 2% - 5%

Personal Loan Providers in Chandigarh

Whether you're aiming to renovate your home, cover medical expenses, or pursue higher education, various personal loan providers in Chandigarh are ready to assist you in realizing your aspirations.

Banks in Chandigarh for Personal Loans

Take the first step towards your desired lifestyle and achieve your goals with confidence through the exclusive personal loans, offered by the most esteemed banks in Chandigarh. Now compare and choose the loan provider in Chandigarh best suited for you.

Banks in Chandigarh Interest Rate (p.a)
HDFC Bank 10.50% onwards
Punjab National Bank 10.40% onwards
Federal Bank 11.49% onwards
UCO Bank 10.95% onwards

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Note- The interest rates mentioned are subject to change. Visit the website for more information.

NBFC in Chandigarh for Personal Loan

You can avail loans through NBFCs with faster approval rates, flexible eligibility, lack of collateral, and other specialized services. The list below shows the NBFCs in Chandigarh extending a range of personalized personal loan options, each designed to provide quick financial assistance:

Personal Loan by NBFC Interest Rates (p.a.)
HDB Personal Loan 12% onwards
L&T Personal Loan 12% onwards
Ambit Finvest Business Loan As per the business requirements
Navi Personal Loan 9.9% onwards

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Personal Loan Eligibility in Chandigarh

Avail your desired personal loan with affordable interest rate all with the right eligibility criteria. To qualify for your desired personal loan in Chandigarh, you generally need to meet certain criteria. These criteria include a minimum age, a stable source of income, and a good credit score, refer to the list below to know more:

Age - Individuals between 21 and 60 years of age

Employment- Employee of private limited companies or public sector undertakings, including central, state

Job Duration - Applicant who has had a job for at least 2 years, with a minimum of 1 year with the current employer.

Income - Minimum of ₹15,000 income per month.

Calculate EMI for a Personal Loan in Chandigarh

Calculating your EMI to finance a personal loan in Chandigarh is necessary as it aids in budgeting and ensuring you choose a manageable loan with favorable terms. It empowers you to make informed decisions, avoid defaults, and navigate the city's cost of living effectively.

By providing the details of your desired loan amount, interest rate, and tenure, you can assess the potential payable EMI.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Documents Required for a Personal Loan in Chandigarh

Commonly required documents for a personal loan include proof of identity, address, income, and employment, along with bank statements and photographs. However, you can follow the list to know the documents you might need to keep handy to avail of a personal loan in Chandigarh.

Identity Proof- PAN Card/Voter ID/Driving License/Aadhar Card/Passport

Address Proof- Utility bill/Passport/Aadhar card/Voter ID

Income Proof- Latest Salary Slip/ ITR/Form-16

Bank Statement- Last 3-6 Month Bank Statement

Features & Benefits of Personal Loans in Chandigarh

Personal loans are an attractive choice that comes with a wide range of features and perks that are designed to best suit your needs. You will find the key features & benefits of personal loans in Chandigarh for you to achieve your financial goals with minimal effort.

Rapid Disbursal

Get loan disbursal in just
24 hours after approval

Flexible Tenure

Avail loan under the most
flexible tenure upto 5 years

Interest Rates

Interest Rates for
personal loan starts
at just 11.99% p.a.

Loan Amount

Apply for personal
loan starting from
₹10,000 - ₹15 Lakhs.

Zero Collateral

Get Personal loan by
providing 0 collateral

Minimal Paperwork

Submit minimum documents and
avail your desired loan amount

Note- The interest rates are dynamic and subject to change based on your credit history and creditworthiness.

Types of Personal Loans in Chandigarh

Personal loan finance in Chandigarh is sought after for fulfilling a variety of financial needs that can include financing education, organizing weddings, handling medical expenses, along with home improvements. Here are various kinds of personal loans that will suit your multiple financial needs to live the desired life in Chandigarh.

Personal loan for Education: Instant loans for Educational expenses in Chandigarh are designed to provide financial support to students who want to pursue higher education, both within India and overseas.

Personal loan for Business: Chandigarh offers several promising prospects for businesses due to its well-planned infrastructure, and strategic location. Hence, business owners might consider personal loans to fund the initial setup costs or working capital for their businesses.

Personal loan Wedding: A destination wedding in Chandigarh, can be a unique choice. Chandigarh is known for its well-planned infrastructure, and beautiful gardens, and with a personal loan get a way to fund your dream wedding in this city of charm.

Personal loan for Medical Emergency: Personal loans for medical emergency loans provide you with quick and reliable financial assistance, ensuring that you can focus on your health without the burden of unexpected medical bills.

Home Renovation Loans: The cost of home renovation in Chandigarh can be economically more expensive. Hence, If you want to renovate or repair your home, availing a personal loan in Chandigarh can help you cover the costs of the improvements.

Personal Loan in Chandigarh with low-interest rates

Chandigarh, one of India's costliest cities, can be made more manageable with a personal loan featuring affordable interest rates. Securing a personal loan in Chandigarh with a low-interest rate involves a combination of planning, diligent research, and a strong credit profile. Here are tips to guide you to increase your chances of obtaining a personal loan with favorable interest rates:

Credit Score: A higher credit score generally qualifies you for lower interest rates. Before applying for a personal loan ensure to have a copy of your credit report and work on improving your credit score if required

Compare Lenders: Choose and compare different lenders, including banks, credit unions, and online lenders. Each lender may offer varying interest rates and terms, so it's essential to shop around to find the best deal in Chandigarh.

Necessary Documents: Lenders will require documentation such as proof of income, employment details, and identification. Hence, keeping these documents handy will streamline the loan application process.

Maintain a Stable Income: Lenders prefer borrowers with a stable source of income, as it demonstrates your ability to repay the loan. A steady job or business income can increase your chances of securing a lower interest rate.

Evaluate Loan Terms: Understand the loan terms thoroughly, including the interest rate, repayment period, and any associated fees. Hence, doing this will help you arrive at a loan term that aligns with your repayment capacity.

Multiple Applications: Submitting numerous loan applications can negatively impact your credit score and your prospect of availing a loan. Instead, it is always suggested to research and then select a few potential lenders to apply to.

Apply Online for an Instant Personal Loan in Chandigarh

Follow these 4 simple steps to initiate the journey for your desired personal loan in Chandigarh:

Step 1: Visit - buddyloan.com or download or you can install the Buddy Loan app and compare features.

Step 2: Fill out the application form, which includes the loan amount, the tenure in months, and contact details.

Step 3: Fill out the eligibility form and provide:

  • Email Address
  • employment type: Salaried/ self-employed
  • Company Type
  • Industry Type
  • Current Company Name
  • Company Address
  • Year of Employment
  • Net Income
  • Mode of Salary
  • PAN Card Details
  • Full Name (As Per Pan Card)
  • Current Address with PIN Code
  • Mobile Number

Step 4 Submit the details & wait for the loan confirmation.

Ready to take next step ?

Frequently Asked Questions

The minimum and maximum loan amount for salaried individuals can vary widely based on the lender and your income. Generally, it can range from ₹10,000 to ₹15 Lakhs

To get an instant personal loan, you can apply online through various financial institutions and lending platforms. Ensure you have your necessary documents handy, and eligibility criteria in check for quick approvals.

In order to get a personal loan immediately from any central bank or financial institution you have to make sure you have fulfilled the stipulated eligibility criteria.

Personal loans in Chandigarh are generally not eligible for tax exemptions, as they are not backed by collateral, such as property or assets

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