Delhi is a city where people come to study, work, run businesses, and build a better future for their families. But everyday expenses can add up, especially when you’re paying rent, travelling to work, or managing household bills. A wedding, medical emergency, or home repair can make things even more difficult.
A personal loan in Delhi can help you cover these expenses when your savings aren’t enough. Through Buddy Loan, you can explore an instant personal loan from different lending partners, with interest rates starting from 9.99% p.a. and flexible repayment options.
Read on to understand the interest rates, eligibility requirements, and steps to apply for a personal loan in Delhi.
Get an Instant Personal Loan in Delhi
A large expense can come up when you least expect it, from a medical bill to urgent repairs at home. Buddy Loan helps you explore personal loan options in Delhi without visiting multiple bank branches.
| Interest Rate | 9.99% p.a. onwards |
| Loan Amount | Starting from ₹10,000 to ₹35 lakhs |
| Tenure | Flexible loan tenures starting from 6 months to 5 years |
| Processing Fees | 0.5% to 4% of the loan amount (may vary across lenders) |
| Documentation | E – Documentation (PAN, Aadhaar, Income Proof) |
Note: The interest rates are dynamic and subject to change based on your credit history and credit worthiness.
Personal Loan Interest Rates in Delhi
Your income, credit history, existing EMIs, and repayment period can affect the interest rate offered by a lender. Check the interest rate and processing fee together to understand how much your loan will cost.
| Interest Rate | 9.99% p.a. onwards |
| Processing Fee | Up to 4% of the loan amount |
| Loan Tenure | Up to 5 years |
Personal Loan Providers in Delhi
Delhi has several banks and NBFCs offering personal loans for different financial needs. Comparing their interest rates and terms can help you find a loan that fits your monthly budget.
Personal Loan Banks in Delhi
Banks offer personal loans to eligible salaried and self-employed applicants in Delhi. Here are the interest rates listed for different banks:
| Personal Loan by NBFC | Interest Rates (p.a.) |
| SBI Personal Loan | 10% onwards |
| HDFC Personal Loan | 9.99% onwards |
| Axis Bank Personal Loan | 9.99% onwards |
| Bank of Baroda Personal Loan | 10.15% onwards |
| Canara Bank Personal Loan | 14.25% onwards |
| ICICI Bank Personal Loan | 9.99% onwards |
| IDFC Bank Personal Loan | 9.99% onwards |
| Indian Overseas Bank Personal Loan | 10.25% onwards |
| IDBI Bank Personal Loan | 11% onwards |
| Bank of India Personal Loan | 10.85% onwards |
| Federal Bank Personal Loan | 12% onwards |
| UCO Bank Personal Loan | 9.95% onwards |
| Union Bank of India Personal Loan | 8.9% onwards |
| Yes Bank Personal Loan | 10.85% onwards |
| Central Bank of India Personal Loan | 9.85% onwards |
| Induslnd Bank Ltd Personal Loan | 10.49% onwards |
| Indian Bank Personal Loan | 9% onwards |
| RBL Bank Personal Loan | 14% onwards |
| Bandhan Bank Personal Loan | 8.86% onwards |
Note- The interest rates mentioned are subject to change. Do visit the website for more information.
NBFC in Delhi for Personal Loan
Non-Banking Financial Companies (NBFCs) are another option for people looking for personal loans in Delhi. Compare the following interest rates and check the lender’s eligibility requirements before applying.
| NBFCs | Interest rate |
| Muthoot Finance | 13.5% onwards |
| Money Tap Personal Loan | 13% onwards |
| Tata Capital | 10.99% onwards |
| Bajaj Finserv | 10% onwards |
| L&T Personal Loan | 11% onwards |
Note- The interest rates mentioned are subject to change. Do visit the website for more information.
Personal Loan Eligibility in Delhi
Lenders look at your age, monthly income, credit score, and employment details before approving a personal loan. Here are the basic eligibility requirements listed for applicants in Delhi:
| Citizenship | Indian |
| Age | 21 – 60 years old |
| Credit Score | 600 above |
| Employment | Must be salaried or self-employed |
| Minimum monthly income | ₹15,000 |
| Moving into a rented flat in Dwarka or Janakpuri? Between the security deposit, shifting charges, and buying basic furniture, expenses can add up quickly. A personal loan may help you manage these costs without paying everything at once. |
Personal Loan EMI Calculator in Delhi
Rent, household bills, school fees, and existing loan payments can already take up a good part of your salary. Use an EMI calculator to check how much another monthly payment would add to your expenses.
Before taking a personal loan, use the online EMI calculator to enter your loan amount, interest rate, and repayment tenure.
You can also calculate EMI manually using this formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
Where:
- EMI is the equated monthly instalment.
- P is the principal amount.
- R is the monthly interest rate.
- N is the loan tenure in months.
Documents Required for a Personal Loan in Delhi
Keep your identity, address, and income documents ready before applying for a personal loan. If you’ve recently moved to Delhi or changed houses, check that your address details are correct.
- Identity proof: Aadhaar card, PAN card
- Age proof: Birth certificate, voter ID
- Address proof: Rental agreement, utility bills
- Salary proof: Salary slips for the last 3 months, bank account statements for 6 months, and Form 16.
- Employment proof: Employment letter
Personal Loan in Delhi for Low CIBIL Score
A low CIBIL score may make it harder to get a personal loan, but some lenders also consider your income and ability to repay. Here are a few things you can look into before applying:
- Apply with a lender that specialises in loans with a low CIBIL score: Some lenders consider applicants with lower credit scores after checking their income and repayment history. Approval will still depend on the lender’s requirements.
- Get a co-signer: If the lender allows it, a co-signer with a good credit history may support your application. The co-signer may also be responsible for repayment if you fail to pay.
- Provide collateral: A separate secured loan may be an option if you don’t qualify for an unsecured personal loan. However, the asset you pledge could be at risk if you don’t repay the loan.
- Increase your income: A steady income can help lenders assess your repayment ability. If you have additional income sources, keep the relevant documents ready.
- Improve your credit score: Paying credit card bills and existing loan EMIs on time can help improve your credit history over time. A better score may increase your chances of getting suitable offers later.
Types of Personal Loans in Delhi
Some expenses are planned months in advance, while others come without warning. A personal loan in Delhi may help you manage travel, weddings, medical treatment, and home improvement costs.
- Personal loan for travel: Planning a holiday after months of work or a family trip outside Delhi? Flights, hotels, transport, and other bookings can cost a lot when paid together. A personal loan may help cover these expenses and spread the repayment across monthly EMIs.
- Personal loan for marriage: A wedding in Delhi may involve booking a banquet hall, arranging catering, buying clothes and jewellery, and hosting relatives. Families planning a wedding in areas such as Punjabi Bagh or Rohini may consider a personal loan for marriage to cover additional costs. Loan amounts can go up to ₹35 lakhs, subject to eligibility.
- Personal loan for home renovation: Fixing an old kitchen, repainting rooms, repairing a bathroom, or replacing furniture can take a large amount out of your savings. A personal loan may help with these home improvements, with repayment tenures of up to 60 months.
- Personal loan for medical emergencies: Hospital bills can be difficult to manage when treatment is needed urgently. A personal loan for a medical emergency may help pay for surgery, medicines, tests, and other healthcare expenses when savings or insurance aren’t enough.
Features & Benefits of Personal Loans in Delhi
A personal loan can help you pay for a large expense without putting up property or other assets as security. Here are some of the main features listed for personal loans in Delhi:
- High Loan Amount: Avail any loan amount of up to ₹35 lakhs.
- Quick Approvals: Enjoy lightning-fast approvals within a few days.
- Collateral Free: No collateral is required for personal loans in Delhi.
- Minimum Documentation: Basic and simple documentation required.
- Attractive interest rates: Personal loans in Delhi offer affordable interest rates.
- Flexible Tenure: Enjoy a tenure of up to 60 months.
Tips for Choosing the Right Personal Loan in Delhi
Don’t choose a loan simply because the lender offers a large amount or promises quick approval. Check how the EMI, interest rate, and fees will affect your monthly budget.
- Assess your needs: Start by deciding why you need the loan. A wedding, medical expense, or home repair may require different amounts, so borrow only what you need.
- Check eligibility: Look at the lender’s age, income, employment, and credit score requirements before applying. This can help you identify suitable loan options.
- Compare interest rates: Check the rates offered by different lenders. Even a small difference can affect the interest you pay over the repayment period.
- Evaluate fees and charges: Processing fees, prepayment charges, and other costs can add to the loan amount. Review the charges before accepting an offer.
- Understand EMI: Use an EMI calculator to see how much you’ll pay every month. Make sure the instalment fits alongside your rent, household expenses, and existing repayments.
Steps to Apply Online for an Instant Personal Loan in Delhi
You can start your personal loan application in Delhi through Buddy Loan. Follow these seven steps to enter your details and submit the application:
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 & personal email. Next, choose the Personal Loan option.
Step 4: Choose the employment type (Salaried, Self-Employed, or Student) 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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