Personal Loan in Guwahati


Guwahati, the ‘Gateway to the North East’, is Assam’s largest city buzzing with commerce, education, and diverse culture. This city with a rich history and diverse population, has financial institutions that offer its residents various financial benefits like a personal loan in Guwahati.

A Guwahati personal loan will help you meet various financial requirements like wedding, travel or business expenses. With low-interest rates and customizable repayment tenures, you can enjoy a quick and hassle-free solution to all your monetary necessities.

Get an Instant Personal Loan in Guwahati

An instant personal loan in Guwahati can help you meet any urgent financial need for any personal or business purpose. Various banks and NBFCs offer personal loan services in Guwahati making it a reliable resource for those in need. The table below highlights the best loan terms offered by personal loan providers in Guwahati:

Type of Loan Unsecured Loan
Best Interest Rates 11.99% p.a. onwards
Maximum Loan Amount ₹ 50 Lakhs
Minimum Salary Required 15,000/-
Tenures 3 to 60 Months
Approval 24 Hours approx
*Note: The interest rates are dynamic and subject to change based on your credit history and credit worthiness.

Personal Loan Interest Rates & Charges in Guwahati

Banks and NBFCs operating in the city offer attractive interest rates with affordable fees and other charges on Guwahati personal loans. The interest rates depend on various factors such as your credit score, credit history, income, loan amount, and tenure. While additional fees and other charges depend on the lender. Here are some of the general rates and charges offered by the lender:

Interest Rate 11.99% p.a onwards
Processing Fees Up to 3%
Prepayment charges 0% - 3%
Late payment charges 1% - 2%
Stamp duty 0.5% onwards

Ready to take the next step? Apply for a Personal loan now!

Personal Loan Providers in Guwahati

Several personal loan agents in Guwahati can provide you with the right financial support, giving you the opportunity to accomplish your goals and aspirations. Below is a list of banks and NBFCs along with their interest rates for you to compare and get the best loan terms.

Banks in Guwahati for Personal Loan

Various well-known banks provide personal loans in Guwahati, some of these are:

Banks Interest Rate
Punjab National Bank 10.50% p.a. onwards
State Bank of India 11.05% p.a. onwards
HDFC Bank 10.50% p.a. onwards
Kotak Mahindra 10.99% p.a. onwards
Yes Bank 10.99% p.a. onwards

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

Ready to take the next step? Apply for a Personal loan now!

NBFC in Guwahati for Personal Loan

There are several trusted NBFCs or personal loan providers in Guwahati. Here are a few of them along with their interest rates:

NBFC Interest Rate
Buddy Loan 11.99% p.a. onwards
InCred 13.99% p.a. onwards
Poonawala 9.99% p.a. onwards
Capital First 10.49% p.a onwards
L&T Finance 12.00% p.a onwards

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

Guwahati Personal Loan Eligibility Criteria

Meeting the eligibility requirements is essential for getting a Guwahati personal loan. Here are the criteria that lenders are looking for in the city:

Citizenship Indian
Age 21 - 65 years old
Credit score 650 above
Minimum monthly income ₹15,000
Employment Must be salaried or self-employed

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Calculate EMI for Personal Loan in Guwahati

The equated monthly instalment (EMI) is an important component of a loan that you have to be responsible for. Therefore, it is important to know and understand how much EMI you need to pay for your private personal loan in Guwahati. Calculating the EMI amount will help you determine your affordability for the loan amount you want.

%
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 calculate your EMI by using an online EMI calculator or by using the formula:

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

Here,
P stands for the Principal amount, R stands for Rate of interest and N stands for Tenure.

A more convenient method to calculate the EMI is by using the EMI calculator below. All you need to do is input the loan amount, tenure, and rate of interest. Click ‘Calculate’ and you will get the estimated EMI amount within seconds.

Documents Required for a Personal Loan in Guwahati

Preparing the right documents will ensure your loan approval and faster disbursement of your loan. With that in mind, here are the documents required by personal loan agents in Guwahati:

Identity proof Aadhaar card, PAN card
Age proof Birth certificate, Voter ID
Employment proof Employment letter
Salary proof Salary slips for the last 3 months, bank
account statements for 6 months, Form 16.
Address proof Rental agreement, Utility bills

Ready to take the next step? Apply for a Personal loan now!

Different Types of Personal Loans in Guwahati

A personal loan in Guwahati is a financial aid that can support you for various needs. You can fund a business or medical expenses with a personal loan as there are no end-use restrictions. Here are some of the different types of personal loans:

Education expenses: You can avail of a personal loan to cover your tuition expenses, books, or other educational-related expenses.

Medical expenses: A Guwahati personal loan can be used to cover any medical bill, surgery, or other treatments.

Travel expenses: You can explore new cultures and even dishes with a personal loan for travel without having to worry about financial constraints.

Home renovation expenses: You can redecorate your home in the latest style with a personal loan for home renovation.

Wedding expenses: Have the wedding of your dreams by taking a personal loan for wedding expenses. It will cover all decor, venue, and caterer expenses.

Business expansion or start-up: Expand your business or even start a new one with a personal loan for business purposes.

Features & Benefits of Personal Loans in Guwahati

With a personal loan in Guwahati, you can enjoy many features and benefits, some of which are:

High Loan Amount

Avail any loan amount
of up to 50 lakhs.

Low Interest Rate

Attractive interest rates
starting at 11.99%p.a.

Flexible Tenure

Repay your loan for
up to 60 months.

Hassle-free
Documentation

Basic and simple
documentation required.

Fast Approvals

Get lightning fast approvals
within just a few days.

No Collateral

Get unsecured
personal loans.

How to Get Personal Loan With Aadhaar Card?

Getting a loan with an Aadhaar card is a streamlined process. Here is a step-by-step guide on how you can get a Guwahati personal loan with an aadhaar card:

Step 1: Choose your lender: You can apply for a personal loan with an Aadhar card from any bank or NBFC. research and compare interest rates to get the best rate for you.

Step 2: Ensure you meet eligibility requirements: Every lender has a set of requirements that you must meet, some of them include age, income, credit score, and more.

Step 3: Provide the right documents: You will need other additional documents for identity proof, address proof, income proof and passport-sized photograph.

Step 4: Verify your Aadhar details: You will need to confirm that your Aadhar information is accurate and up-to-date.

Step 5: Get your loan approved: Once your loan application is approved by the lender you will get a loan agreement. Read the loan agreement properly and then sign it.

Ready to take the next step? Apply for a Personal loan now!

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Tips for Choosing the Right Personal Loan in Guwahati

Securing the ideal personal loan in Guwahati requires proper research and information. It is best to make wise decisions while choosing a personal loan provider in Guwahati as their terms directly affect your financial stability. Here are some valuable insights on how to select the right loan for you:

Handpick the perfect lender: Choosing the right lender is the cornerstone of a successful loan application. Research reputable institutions and pick one with terms that align with your financial requirements.

Research interest rates: Interest rates differ from one lender to another. Be sure to choose a lender that aligns comfortably with your repayment capabilities.

Scrutinise fees and charges: Lenders generally have processing fees and other additional charges on a personal loan. Make sure to choose a lender who is transparent in their fee structure.

Avoid over-borrowing: It is wise to only borrow what you need. Taking on too much debt will lead to financial strain.

Utilize your negotiating power: If you have good or even excellent credit, you can negotiate with the lender to gain favorable terms and low-interest rates.

Scrutinise loan terms: Always read the loan terms carefully before accepting a loan. This ensures that there are no hidden costs or fees.

Steps to Apply Online for an Instant Personal Loan in Guwahati

Steps To Apply For a 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 & 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.

Take the next step? Apply for a personal loan now!

Frequently Asked Questions

Lenders can charge additional fees such as processing fees, prepayment fees, part payments, late payments, stamp duty, and more. Check the above to find out the rates for other fees.

A successful loan application will depend on the lender's eligibility requirements. If your CIBIL score does not meet the lender’s requirements, they can reject your application.

A personal loan in Guwahati will take anywhere from 24 hours to a few days to be processed.

You can take up a personal loan of up to 50 lakhs from any bank or NBFC in Guwahati.

The personal loan interest rate in Guwahati starts from 11.99% p.a.

No, personal loans are unsecured loans so you do not have to pledge any collateral.

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