Personal Loan in Delhi

Getting a personal loan in Delhi NCR is not a foreign concept to its citizens. The capital city of India has long been a place where people seek success and new opportunities. In a city that is known as the second-most expensive in India, the citizens often look towards getting a personal loan in Delhi to attain financial freedom. An instant personal loan in Delhi provides borrowers with access to funds for any personal or business purpose. With an instant personal loan, borrowers can enjoy competitive interest rates starting at 11.99% p.a., flexible repayment tenures, and more.

Get an Instant Personal Loan in Delhi

Urgent financial needs can arise unexpectedly. During such critical moments, you may find yourself in need of finances. Getting access to immediate funds through an instant personal loan in Delhi through various digital loan lenders in Delhi may help you turn the tables. Some of the general loan details offered by these lenders are given in the table below:

Loan Type Unsecured
Loan Amount Up to 50 Lakhs
Interest Rates From 11.99% p.a
Tenure 12 to 60 Months
Minimum Salary ₹15,000/- to ₹30,000
Processing Fees Up to 3.5%
Note: The interest rates are dynamic and subject to change based on your credit history and credit worthiness.

Personal Loan Interest Rates in Delhi

Lenders in Delhi offer attractive interest rates for personal loans. However, the rates vary from one lender to another. An interest rate is given to a borrower based on several factors, such as the loan amount, tenure, their credit history, and more. Let’s take a look at the general personal loan interest rates in Delhi, along with the fees offered by lenders.

Personal loan Interest rate 11.99% p.a.
Processing fee Up to 3.5%
Prepayment charges Up to 2%
Late payment charges 1% - 3%
Stamp duty 4% and 6%
Cheque bounce charges ₹200 - ₹500

Personal Loan Providers in Delhi

Like any other state, Delhi has its own share of personal loan providers. Banks, NBFCs, and online lenders operate in Delhi, giving personal loans to its populace. Some of the most popular loan providers in Delhi, along with their rates of interest, are given in the following tables.

Personal Loan Banks in Delhi

Bank personal loan provider in Delhi and their interest rate:

Banks Interest Rate
State Bank of India (SBI) 11.00% p.a onwards
HDFC Bank 10.50% p.a onwards
Axis Bank 10.49% p.a onwards
IndusInd Bank 10.49% p.a onwards
Union Bank of India 10.70% p.a onwards
Ujjivan Small Finance Bank 11.49% p.a onwards

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

NBFC in Delhi for Personal Loan

Below is a list of the NBFC private financers in Delhi and their rate of interest:

NBFCs Interest rate
Tata Capital 10.99% p.a onwards
Bajaj Finserv 11.00% p.a onwards
Muthoot Finance 13.50% p.a onwards
Buddy Loan 11.99% p.a onwards

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

Personal Loan Eligibility in Delhi

Loan eligibility determines whether you get a loan approval or not. It is important to know the criteria for personal loan eligibility 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

Personal Loan EMI Calculator in Delhi

The EMI is an important parameter while planning for a personal loan. Calculating your EMI before availing of a loan is necessary so that you can access your repayment capability. You can calculate your EMI for a personal loan in Delhi by using online EMI calculators. Just enter your loan amont, tenure & interest rate details to check the 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 (%)

You can also manually calculate the EMI using the formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]

EMI is the equated monthly instalment, P is the principal amount, R is the interest rate, and N is the loan tenure.

Documents Required for a Personal Loan in Delhi

Having the right documents is necessary to get a personal loan. Here are some of the documents required to get a personal loan in Delhi:

  • 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, Form 16.
  • Employment proofEmployment letter

Types of Personal Loans in Delhi

Personal loans are unsecured loans that offer borrowers flexible end uses. In Delhi, you can get a personal loan for any purpose, be it for travel, a wedding, home renovation, or any medical emergency. Here are the different types of loans you can get in Delhi:

  • Personal loan for travel: : Getting out of the hustle and bustle of city life can be very inviting. If you want to take a break from your everyday life in Delhi but do not have adequate funds for it, get a personal loan for travel purposes. With competitive interest rates and flexible tenure, you can go anywhere in India or the world by availing of a personal loan in Delhi.
  • Personal loan for marriage: Planning for a wedding can be stressful as the venue, decorations, and caterer can be expensive. However, with a personal loan for marriage in Delhi, you can enjoy your dream wedding without worrying about finances. Get a loan of up to 50 lakhs at affordable interest rates and flexible tenures.
  • Personal loan for home renovation : Renovating a home can be out of necessity or simply the desire to upgrade. But, it comes with a cost. Avail a personal loan for home renovation in Delhi and enjoy low interest rates with a repayment tenure of up to 60 months.
  • Personal loan for medical emergencies : Medical emergencies can take place at any moment, which can lead you to require financial aid. During such emergencies, getting funds quickly at an affordable interest rate is an absolute necessity. Getting a personal loan for a medical emergency in Delhi can help you get the support you need.

Features & Benefits of Personal Loans in Delhi

You can enjoy various features and benefits from a personal loan in delhi, these are:

High Loan Amount

Avail any loan amount of
up to 50 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 offers
affordable interest rates

Flexible Tenure

Enjoy tenure of up to 60

Personal Loan in Delhi for Low CIBIL Score

Getting a personal loan in Delhi NCR, with a low CIBIL score can be challenging, but possible. Here are a few suggestions on how to get a personal loan with a low CIBIL score:

  • Apply with a lender that specialises in loans with a low CIBIL score : Finding a lender in Delhi that specialises in loans for people with low credit scores will make it easier for you to get the loan approved.
  • Get a co-signer: Getting a co-signer with a good credit score will get lenders to approve a loan. A co-signer will act as a security for repayment of the loan in case you default.
  • Provide collateral : Pledging collateral will make your loan application more attractive to lenders as it provides security for the loan.
  • Increase your income :Having a good income will improve your chances of getting a loan, even if your credit score is low.
  • Improve your credit score : Improving your credit score by paying credit card bills and loans on time will also ensure loan approval in the future.

Tips for Choosing the Right Personal Loan in Delhi

The availability of many personal loan providers in Delhi may make it difficult for you to choose the right one. Making the right choice requires careful consideration and research. Let’s take a look at a few tips and tricks on how you can make the best choice on personal loans in Delhi.

  • Access your needs : Determine the purpose of the loan; understanding the need for it will help you make better choices on the loan terms.
  • Check eligibility : Check the eligibility criteria of different lenders, so you can make better informed decisions.
  • Compare interest rates : Comparing interest rates will help you choose the best rate that suits your situation.
  • Evaluate fees and charges :Considering processing fees, prepayment charges, and other payments is necessary to understand the loan amount you are getting. Always opt for a transparent lender.
  • Understand EMI : Check your EMI by using a calculator. This is important to ensure the EMI fits comfortably within your monthly budget.

Steps to Apply Online for an Instant Personal Loan in Delhi

To apply for a personal loan in Delhi, all you need to do is follow these simple steps on Buddy Loan:

Step 1: Visit - or Download 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:

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

Ready to take next step?

Frequently Asked Questions

Search for lenders that offer personal loans for CIBIL defaulters in Delhi.

Yes, you can get a personal loan if your CIBIL score is low although it might be challenging and the interest rate might be high.

Yes, it is possible to get a personal loan without income proof in Delhi from certain lenders. However, interest rates may be higher.

It is not possible to get a personal loan without CIBIL check. However, it is possible to get a loan with a low or no CIBIL score.

Yes, it is possible to get an instant loan in Delhi without documents, but the interest rate will be higher.

Yes, you can get a personal loan with a salary of 15,000. However the loan you will be eligible for will depend on many factors.

You can apply for a personal loan online in Delhi through the Buddy Loan app or Buddy Loan website.

You can apply for a personal loan without CIBIL score from select loan providers in Delhi.

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