Personal Loan in Nashik


Nashik, one of the larger cities in Maharashtra, holds significance as a historical, cultural and emerging economic centre. The city has potential for growth and development because it has a diverse economy that includes agriculture, manufacturing, IT and other emerging sectors.. To benefit from such an economy, residents in the city can take a personal loan in Nashik for various reasons.

An urgent personal loan in Nashik can provide funds for those seeking higher education, planning their dream wedding or to expand their business through various banks and NBFCs. They offer Nashik personal loans with a range of benefits like competitive interest rates starting from 11.99% p.a. and long tenures.

Get an Instant Personal Loan in Nashik

Banks in Nashik and financial institutions offer quick processing of funds and online application options, making it easy to get an instant personal loan. This has made borrowing easy and efficient for those who require immediate funds.

If you are getting a personal loan in Nashik, here are the general loan terms offered by personal loan providers.

Maximum Loan Amount ₹ 50 Lakhs
Type of Loan Unsecured Loan
Minimum Salary Required 15,000/-
Interest Rates 11.99% p.a. onwards
Tenure 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 Nashik

Banks and other personal loan agents in Nashik provide competitive interest rates and other low charges. Making a comparison of the different rates offered by lenders will help you get the best loan terms that you are comfortable with. Below is a table of the general interest rates and charges offered by lenders:

Personal loan interest rate 11.99% p.a onwards
Processing Fees Up to 3%
Stamp duty 0.5% onwards
Prepayment charges 0% - 3%
Late payment charges 1% - 2%

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

Personal Loan Providers in Nashik

Personal loan providers play a vital role in helping individuals achieve their financial goals. These personal loan agents in Nashik offer a range of personal loan options designed to help cover the diverse financial shortcomings and preferences of the residents. Below is a list of some of the local and national banks and NBFCs that are operating in Nashik, along with their interest rates.

Banks in Nashik for Personal Loan

Residents of Nashik have access to a competitive lending landscape, . with the following banks providing personal loan services in the city:

Banks Interest rate
Axis Bank 10.49% p.a onwards
RBL Bank 14.00% p.a onwards
ICICI Bank 10.50% p.a onwards
SBI Bank 11.05% p.a onwards
Bank of Baroda 10.90% 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 Nashik for Personal Loan

Various NBFCs like Bajaj Finance offer personal loans in Nashik. Providing residents with competitive interest rates and fast disbursal of loans. Some of the NBFCs operating in Nashik are:

NBFC Interest Rate (p.a.)
Buddy Loan 11.99% p.a onwards
MyMoney Mantra 10.75% p.a onwards
Bajaj Finserv 11.00% p.a onwards
Muthoot Finance 13.50% 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!

Personal Loan Eligibility Criteria in Nashik

Different banks and NBFCs will require a borrower to clear certain eligibility criteria. These criteria help lenders assess risk and reduce the risk of default. It also determines the terms of the loan including the loan amount and interest rate. Below is a table of the general expectations required by loan agents in Nashik.

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

Documents Required for a Personal Loan in Nashik

Minimal documentation is required to get a personal loan in Nashik. To ensure you enjoy a seamless and successful loan application, you will need to provide the right documents. Each lender has their own specific requirements, but these are the essential documents that most lenders need.

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

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

Calculate EMI for a Personal Loan in Nashik

Being financially responsible also means that you pre-calculate your EMI before applying for a loan. Calculating an EMI will ensure that you are comfortable with the amount you pay every month and it fits with your budget. There are two ways by which you can calculate your EMI for a personal loan in Nashik, by using a formula or by using an online EMI calculator.

%
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 (%)

EMI = [P x r (1 + r )^n ] / [(1 + r)^n - 1], is the formula you can use to calculate your equated monthly income.

Here,

EMI will be the equated monthly instalment.
P will be the principal amount.
r will be the rate of interest.
n will be the loan tenure.

By using the formula, you can approximate the amount you need to repay monthly. However, using the formula can be time consuming. A simpler and much quicker way to calculate your EMI is by using an online EMI calculator. They are easy and convenient to use. All you have to do is input the loan amount, interest rate and tenure, click calculate and you will get the approximate EMI amount.

Different Types of Personal Loan in Nashik

A personal loan is an unsecured loan that has no restrictions on end use. As a resident of Nashik a personal loan serves as a versatile financial tool that can address your various needs and aspirations. Here are the different types of personal loans in Nashik Maharashtra:

Education: If you aspire to continue your education, you can get a personal loan to cover your tuition fees, purchasing books, and other education related expenses.

Medical expenses: Unexpected medical emergencies can come with an expensive bill. This is where a personal loan can support you financially. You can avail of an urgent personal loan in Nashik to cover medical expenses, surgery, or hospitalisation.

Home renovation: As a homeowner, if you outgrow your living space you may want to remodel or renovate, but if you have a shortage of funds, then; To improve and enhance your home you can take a personal loan which will cover all expenses.

Weddings: You can bring your dream wedding into a reality by getting a personal loan to cover all wedding costs; including the venue, caterer and decorations.

Travel: Everyone needs a break from their everyday life to unwind and relax. To do so, you can go on a domestic getaway or an international adventure. Get an instant personal loan in Nashik and start exploring new horizons and different cultures.

Business expansion: Entrepreneurs and self-employed individuals can benefit from personal loans. You can use the loans to invest into your own business for growth and expansion.

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

Features & Benefits of Personal Loans in Nashik

Personal loan agents in Nashik offer loans with many features and benefits that residents can appreciate. These are:

High Loan Amount

Avail any loan amount
of up to 50 lakhs.

Quick Approvals

Enjoy lightning fast
approvals within a few days

Unsecured Loans

Get collateral free personal
loans in Nashik.

Minimum Documentation

Basic and simple
documentation required.

Attractive interest rate

Personal loan lenders in
Nashik offer low interest
rates.

Customisable Tenure

Enjoy flexible tenures of
up to 60 months.

How to Get A Low CIBIL Score Personal Loan in Nashik?

A personal loan can be a financial asset that provides you with the right funds when in need. However, lenders require a certain CIBIL score they ask for when checking your eligibility. But what if you have a low CIBIL score? While it is possible to get a loan with a low score, it can be a little challenging. Here are some ways on how you can get an instant personal loan in Nashik with a low CIBIL score:

Seek Specialised Lenders: Look for lenders who specialise in providing loans to individuals with lower CIBIL scores. Their expert approach can increase your chances of approval.

Co-Signing: Getting a co-signer with a commendable credit history can strengthen your loan application. The co-signer's offers assurance to lenders and enhances your loan prospects.

Collateral Pledge: Pledging collateral can enhance the attractiveness of your loan application. By offering security, you make your request more appealing to lenders.

Highlight Higher Income: Demonstrating that you get a high and stable income can sway lenders in your favour, irrespective of your credit score. A healthy income showcases your repayment capability.

Work on Credit Improvement: Dedicate efforts to improving your credit score over time. Timely payments, responsible credit utilisation, and addressing existing debts can gradually enhance your creditworthiness.

Apply for a Realistic Amount: Opt for a loan amount that aligns with your financial circumstances. A conservative loan request might receive a more favourable response.

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Tips for Choosing the Right Personal Loan in Nashik

Getting a personal loan is a serious financial commitment that will affect your financial health and your credibility with future borrowing prospects. Therefore, it is crucial for you to get the right loan terms that you can comfortably afford. Here are some tips on how to choose the right personal loan in Nashik Maharashtra:

Evaluate your borrowing needs and eligibility: Begin by determining the loan amount that aligns with your repayment capacity and confirming your eligibility. This step ensures a seamless loan application process.

Research and compare lenders: Identify reputable lenders and properly compare their interest rates and associated fees. This empowers you to access loan offers that are tailored to your budget and suit your financial requirements.

Select the right loan tenure: Choosing a suitable loan tenure directly affects your Equated Monthly Instalments (EMIs). Opt for a tenure that aligns with your financial comfort to secure affordable monthly payments.

Prioritise repayment flexibility: Opt for a lender that offers repayment flexibility, such as options for partial payments or prepayments, without imposing expensive penalties.

Thoroughly understand terms and conditions: Delve into the loan agreement's fine print to grasp its terms and conditions completely. This diligence prevents unexpected fees or terms that might hinder your borrowing journey.

Adhere to these strategic steps and confidently navigate the loan selection process and secure a loan that aligns harmoniously with your specific financial needs and circumstances.

Steps to Apply Online for an Instant Personal Loan in Nashik

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

Yes, you can get a personal loan in Nashik if you have a low CIBIL score, but you may get a higher interest rate.

The tenure for a personal loan in Nasik is 3 to 60 months.

Yes, other charges like processing fees, stamp duty, late payment charges and more are there in Nashik personal loan.

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