Gurgaon is a city in Haryana that has witnessed exponential growth and urbanisation in a short period. The second largest IT hub in the country, Gurgaon, harbours more than half of the Fortune 500 companies. With rising growth, the expenses of the city are also witnessing a rising curve. Therefore, financial tools like a personal loan in Gurgaon are in demand to help bridge the gap created by emergencies
When it comes to instant personal loans, Buddy Loan is your answer. It helps you get quick personal loans from an array of banks and NBFCs, at an interest rate starting from just 9.99% p.a.
Keep reading to find out your best personal loan in Gurgaon.
An Overview of Instant Personal Loan in Gurgaon
Whether you need money for a trip, home improvement, or medical emergency, a personal loan in Gurgaon can help you realise your dreams to the fullest. The following are the important details regarding instant cash loans in Gurgaon:
| Personal Loan Interest Rates | 9.99%* p.a. onwards |
| Repayment Tenure | Up to 5 years |
| Loan Type | Unsecured Personal Loan |
| Loan Amount | Up to ₹35,00,000 |
| Minimum Salary | ₹15,000/- |
| Approval Time | 24 hours approx |
Note:The interest rates mentioned are dynamic and subject to change based on your credit history and creditworthiness.
Details of Personal Loan Interest Rates in Gurgaon
It’s important to keep interest rates in mind when looking at financial options such as personal loans in Gurgaon. Personal loan interest rates vary based on the amount borrowed, the state of the market, and the borrower’s creditworthiness. If you want to get a good loan deal, research and compare interest rates from several lenders.
| Personal Loan Interest Rate | 9.99%* p.a. onwards |
| Processing fee | 2% to 6% of the loan amount |
| Repayment Tenure | Up to 5 years |
| Prepayment Charges | Up to 2% to 4% |
| Late Payment Charges | 2% of the due amount |
The interest rates mentioned are dynamic and subject to change based on your credit history and creditworthiness.
Know the Personal Loan Providers in Gurgaon
Finalising the perfect lender for your personal loan needs is a crucial step in your loan journey. Buddy Loan streamlines this process with its unique feature. It connects you with the most suitable personal loan provider in Gurgaon based on your unique financial requirements. Note that NBFCs and banks in Gurgaon offer personal loans at competitive interest rates.
Banks in Gurgaon for Personal Loan
Check out the best banks in Gurgaon that provide personal loans with personalized options. Choose an appropriate lender to meet your unique financial needs.
| Banks for Personal Loan | Interest Rates (p.a.) |
| Bank of India Personal Loan | 10.85% onwards |
| HDFC Bank | 9.99% onwards |
| Axis Bank | 9.99% onwards |
| Punjab National Bank | 10.25% onwards |
| State Bank of India | 10.00% onwards |
| ICICI Bank | 9.99% onwards |
| IDFC First Bank Persoanl Loan | 9.99% onwards |
| Bank of Baroda Personal Loan | 10.15% onwards |
| ICICI Bank Personal Loan | 9.99% onwards |
| Indian Overseas Bank Personal Loan | 10.25% onwards |
| IndusInd Bank Personal Loan | 10.35% onwards |
| Central Bank of India Personal Loan | 9.85% onwards |
| Yes Bank Personal Loan | 10.99% onwards |
| Union Bank of India Personal Loan | 8.75% onwards |
| RBL Bank Personal Loan | 14.50% onwards |
Note:The interest rates mentioned are subject to change. Do visit the website for more information.
NBFC in Gurgaon for Personal Loan
Find out more about the numerous non-banking financial institutions (NBFCs) and private lenders in Gurgaon. They offer a selection of personal loan choices. These NBFCs provide quick loan approvals and simple loan disbursements for your urgent needs.
| Personal Loan by NBFC | Interest Rates (p.a.) |
| Paysense Personal Loan | 16.80% onwards |
| Upwards Personal Loan | 16.00% onwards |
| Tata Capital Personal Loan | 10.99% onwards |
| Incred Personal Loan | 13.49% onwards |
| Zype Personal Loan | 18.00% onwards |
| KreditBee Personal Loan | 12.00% onwards |
| Muthoot Finance Personal Loan | 13.50% onwards |
| Moneyview Personal Loan | 14.00% onwards |
| Money Tap Personal Loan | 13.00% onwards |
| Aditya Birla Capital Personal Loan | 10.99% onwards |
| Faircent Personal Loan | 12.00% onwards |
| Bajaj Finance Personal Loan | 10.00% onwards |
| HDB Personal Loan | 10.00% onwards |
| Dhani Personal Loan | 13.99% onwards |
| Fibe Personal Loan | 12.00% onwards |
| Cashe Personal Loan | 27.00% onwards |
Note- The interest rates mentioned are subject to change. Do visit the website for more information.
Calculate EMI for a Personal Loan in Gurgaon
An Equated Monthly Installment (EMI) represents the amount you must pay each month until the loan is repaid in full. Estimating the EMI amount before applying for the loan prepares you for liability.
Use the personal loan EMI calculator that is provided below. Select your preferred loan amount, interest rate, and term to get an accurate EMI.
Another method is to manually calculate your EMI using the formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N – 1
Where,
EMI stands for your equated monthly instalment, P stands for principal loan amount, R stands for interest rate, and N stands for tenure in months.
Eligibility for Personal Loan in Gurgaon
There are various qualifying standards you must meet in order to get a personal loan in Gurgaon. Although, each lender may have specific eligibility criteria, the following requirements are a few common criteria:
- Minimum Income: ₹15,000 per month.
- Age: Between 21 to 60 years.
- Resident Status: Must be an Indian resident.
- Employment: Must be a salaried employee of public or private sector companies. Or self-employed individuals with a stable income.
- CIBIL Score: 750 or higher. A higher score increases the probability of approval.
Documents Required for a Personal Loan in Gurgaon
You must submit a set of documents in order for the lender to approve your personal loan application. The following is a list of the basic documents needed for personal loans in Gurgaon:
- Proof of Identity: Passport, Aadhaar card, driver’s licence, or any government-issued photo ID proof.
- Proof of Address: Aadhaar card, recent utility bill, or rental agreement.
- Employment Proof: Employee ID card, appointment letter, or business proof.
- Income Proof: Salary slips, bank statements, or income tax returns.
- Photographs: Passport-sized photos for application.
- Additional documents as per the lender’s requirements.
Important Features of Personal Loans in Gurgaon
Personal loans in Gurgaon include unique characteristics and additional advantages, like quick approvals and affordable interest rates. This gives you the ability to fulfil your goals and manage your finances wisely.
- Zero Collateral: No need to risk your assets to avail a loan.
- Quick Approval: Get loan approval in a matter of minutes
- No Hidden Charges: No hidden charges and penalties
- Multi-Purpose Loan: Use the loan amount however you want
- Flexible Repayment: Long repayment periods of up to 5 years.
Types of Personal Loans in Gurgaon
You have a range of personal loan options in Gurgaon to suit your particular financial circumstances. These loans are here to meet your specific financial needs and financial position. These are the type of personal loans that are available in Gurgaon.
- Personal Loan for Travel: Explore your ideal getaway without tapping into your savings. The tailored personal loan journey designed just for your success.
- Personal Loan for Home Renovation: Boost the value of your home and transform your living area through a personal loan in Gurgaon. Use it for various home improvement projects.
- Personal Loan for Learning: Secure the funds you need for your education, covering tuition, housing, and other academic costs.
- Personal Loan for Debt Consolidation: Combine multiple debts into one loan at lower interest rates. Thus simplifying your repayment process.
- Personal Loan for Urgent Medical Expenses: Be financially prepared for unforeseen medical emergencies. Now with a fast personal loan tailored for healthcare expenses.
- Personal Loan for Wedding: Fund your dream wedding with a personal loan and cover all the wedding-related expenses with ease.
- Personal Loan for Big Purchase: Make any big purchase with easy EMI options from our personal loans in Gurgaon.
Personal Loan in Gurgaon for Low CIBIL Score
A low CIBIL score can decrease the chances of your loan’s approval, but you can still secure a personal loan in Gurgaon by implementing these strategies:
- Proof of Steady Income: the number one tip for choosing the right loan is to determine your reason for taking a loan. This will help you estimate the loan amount you need and ensure you do not borrow beyond your budget.
- Access your financial situation: Proof of Steady Income: If you have a stable income source, lenders could be more open to extending loans to you. Present documentation of your income, like pay slips or tax records.
- Explore Collateral Options: If you possess valuable assets like property or investments, you might be eligible to use them as a loan collateral.
- Conduct Lender Research: Identify lenders in Gurgaon who specialize in catering to individuals with lower credit scores.
Tips for Choosing the Right Personal Loan in Gurgaon
Choosing the right lender can simplify your loan journey. That’s why finding the ideal lender is a crucial step in the process. Here are some pointers to assist you in selecting the appropriate personal loan in Gurgaon:
- Evaluate Your Requirements: Clearly state why you need the loan and the specific amount required. This will help you narrow down choices and prevent borrowing more than necessary.
- Examine Interest Rates: Compare interest rates from various lenders. Even a slight difference in rates can affect the overall loan cost.
- Grasp Fees and Costs: Ask about any processing fees, penalties for prepayment, or other charges linked to the loan. Ensure you’re informed about all potential expenses.
- Loan Repayment Conditions:Consider the loan duration and the monthly installment. While a longer term can mean smaller monthly payments, it can also lead to higher interest payments in the long run.
- Compare Extra Features:Some lenders offer added benefits like loan insurance, top-up loans, or the ability to postpone payments during emergencies.
Steps to Apply Online for an Instant Personal Loan in Gurgaon
- 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, 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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