Personal Loan in Surat


Surat is a bustling city that is known for its textile and diamond industry. The city is an economic and commercial powerhouse that offers its citizens a vibrant business culture. Encouraging them to set up their own businesses and enterprises. To grow along with such a fast paced developing city, residents can opt to get a personal loan in Surat to address their many financial needs.

With competitive interest rates and tailored repayment options you can fund your dream wedding, manage medical expenses or realise your long-awaited travel plans by getting an urgent personal loan in Surat.

Get an Instant Personal Loan in Surat

To navigate sudden financial demands, availing an instant personal loan in Surat is a viable solution. An urgent loan in Surat is a reliable resource that is convenient and easy to get. You can get one through the various NBFCs or banks that are offering loans in the city. Below is a highlight of the best loan terms in Surat:

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

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Personal Loan Interest Rates & Charges in Surat

The interest rates offered by personal loan agents in Surat are very attractive, giving you the opportunity to stride towards your goals confidently. Similarly, the additional fees charged by lenders for the loan are minimal, making personal loan affordable in Surat. Here are the general interest rates and charges offered by loan lenders in the city:

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

Personal Loan Providers in Surat

There are many personal loan agents in Surat that cater to the financial needs of the residents as well as entrepreneurs that want to expand their ventures. To apply for a personal loan in Surat you can visit the banks or contact them. For example, for Bajaj Finance you can contact them through the bajaj finance personal loan Surat contact number which you can get through their website. Here is a list of some of the loan providers with their interest rates:

Banks in Surat for Personal Loan

Several well known banks operate in Surat. Understanding the different competitive rates can help you choose a lender with the best rate. Below are some of the banks that you can visit to get a personal loan.

Personal Loan by Banks Interest Rate
Citi Bank Personal Loan 10.75% p.a onwards
Axis Bank Personal Loan 10.49% p.a onwards
Yes Bank Personal Loan 10.99% p.a onwards
RBL Bank Personal Loan 14.00% p.a onwards
ICICI Bank Personal Loan 10.50% 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 Surat for Personal Loan

You can either visit the office of an NBFC or apply online if you need an instant personal loan in Surat. Here are some of the top NBFCs providing financial service in the city:

NBFC Interest Rate
Buddy Loan 11.99% p.a onwards
Muthoot Finance Personal Loan 13.50% p.a onwards
Tata Capital Personal Loan 10.99% p.a onwards
Bajaj Finserv 11.00% 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!

Surat Personal Loan Eligibility Criteria

When applying for a personal loan finance in Surat, meeting the eligibility criteria is essential for a successful application. The specific requirements will vary between lenders, however, let’s explore the common factors that you will need to fulfil.

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

Documents Required for a Personal Loan in Surat

Having the right documents will ensure you get a higher chance of loan approval so that you can access the financial support that you need. For a smooth and successful application process, here are the documents that you will need to provide for an urgent cash loan in Surat:

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

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

Calculate EMI for a Personal Loan in Surat

An EMI plays a vital role in repaying back your personal loan. Calculating the equated monthly instalments becomes a crucial part to manage a personal loan in Surat. An EMI simplifies and breaks down the repayment of the total loan amount which includes the principal amount and interest. You can calculate the EMI with ease using the 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 (%)

To calculate the EMI amount you can use the following formula:

EMI = [P x R x(1 + R)^n] / [{(1 + R)^n} - 1]

P is the principal amount, R is the interest rate and N is the tenure.

A more convenient way to calculate your EMI is by using an online EMI calculator. It's a valuable tool that effortlessly determines your monthly payment. The process is simple and easy, all you have to do is search for an online EMI calculator and input the loan amount you require, interest rate and tenure. Click calculate and the calculator will provide you with the estimated amount in seconds.

Different Types of Personal Loan in Surat

The adaptability of personal loans in Surat allows you to freely navigate through life’s various financial demands. Whether you’re embracing a personal or business milestone, managing unexpected challenges or pursuing your aspirations, an instant personal loan offers a means to achieve it all. The different ways you can utilise a personal loans are:

Medical expenses: a Surat personal loan will ensure you get access to quality medical care as it can cover all medical expenses, medical bills, surgeries, treatments and other healthcare costs.

Business expansion or startup: starting a business requires capital investment, if you are an aspiring entrepreneur, then getting a personal loan will help you kickstart your business. You can also get a personal loan to finance the expansion of your business venture or to invest in new equipment.

Home renovation: you can get a personal loan to renovate or remodel your home. This will enhance the comfort of your home, improve its aesthetics and even increase your property’s value.

Wedding: a personal loan will help you organise your wedding in grandeur and style. It will cover all expenses including venue, catering , decorations and more.

Travel: you can explore new cities and even the world with the help of a personal loan. Make unforgettable memories without worrying about financial constraints.

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

Features & Benefits of Personal Loans in Surat

As a resident of Surat, you can enjoy the amazing features and benefits of a personal loan, these are:

High Loan Amount

Avail any loan amount of
up to 50 lakhs.

Attractive Interest Rate

Get personal loans at
affordable interest rate
of 11.99% p.a.

Flexible Tenure

Enjoy tenures of up to 60
months

Minimum Documentation

Basic and simple
documentation required.

Quick Approvals

Enjoy lightning fast
approvals within a few days

No Collateral

Get unsecured personal
loans.

How To Get Personal Loan Without Documents?

Getting a personal loan in Surat without documents may be challenging. Even when the loan is approved it might come with higher interest rates and more strict terms. However, here are some tips on securing a loan without documents:

Clearly outline your purpose: Have a good credit score: a good credit score will increase your chances of getting your loan approved without you providing detailed documentation.

Find the right lender: Lender with existing relationship: apply for a loan with a lender that you have an existing relationship with. They will be more likely to offer you a loan with little to no documentation.

Compare interest rates: Offer collateral: you can get a loan without documents by providing security in the form of your property, car, or other assets.

Repayment flexibility: Online lenders: you can opt to get a loan from online personal loan agents in Surat. They offer loans with minimal documentation but with higher interest rates.

Professional guidance: Peer-to-peer lending: to get a loan without documents you can explore peer-to-peer lending platforms as individual lenders might have more flexible requirements.

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

Tips for Choosing the Right Personal Loan in Surat

It is important to choose the right urgent personal loan in Surat as it can help you better manage your finances. A personal loan will greatly impact your financial health and your credit score as well. Choosing the right loan will help you optimise your borrowing costs as well as ensure a smooth repayment journey. Some tips on choosing the right loan are:

Clarify your reason for borrowing: carefully articulate your loan’s intended purpose, this will help you avoid unnecessary financial burden.

Evaluate interest rates: compare interest rates across different lenders to secure the loan with budget-friendly terms.

Carefully choose a tenure: choose a repayment plan that you are comfortable with and that aligns with your budget.

Calculate your EMI: utilise an online calculator to estimate your monthly payment. This will help you realise if your EMI suits your budget.

Choose trustworthy lenders: research lenders that are credible and reliable. Ensure that they have a positive track record.

Prepayment flexibility: choose a loan that offers prepayment without imposing steep penalties.

Steps to Apply Online for an Instant Personal Loan in Surat

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

Any Indian citizen between the age of 21-65 can avail of a personal loan in Surat, if they are eligible for a loan.

It takes anywhere from 24 hours to a few days to get a personal loan in Surat.

Yes, as a self-employed person you can get a personal loan in Surat.

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