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Personal Loan

We help you fulfill all your dreams

Top Features of Personal Loan

About Personal Loan

    Dreams make life worth living. They push you to work harder and achieve the goals you set for yourself - whether it is taking an exotic holiday, buying a luxurious home, or purchasing the latest gadgets. And having the right financial backing is equally important to turn dreams into reality.

    We help you do this with our flexible and easy-to-get Personal Loan offerings. We provide a comprehensive range of Personal Loans that you can access with minimal documentation. From attractive interest rates to quick disbursal, we can help fast-track your Personal Loan requirements and help you fulfill every dream you set your heart on.

Features of Personal Loan

With feature-rich Personal Loans from us, you spend less time with endless processes and approvals and more on living your dreams. Our Personal Loans offer a host of features and hence, continue to be the top choice for existing and new customers. These include:

  • All-purpose loan: Get a Personal Loan from us that can be used to meet any short-term financial obligation such as education, home renovation, wedding, travel, healthcare, debt consolidation, and more.
  • No collateral requirement: We ease the burden of your financial worries with our range of comprehensive Personal Loan products that do not require collateral or guarantor to sign-off. 
  • Minimal documentation: Meet your Personal Loan requirements by applying for an amount up to INR 7,50,000 against minimal documentation supported by a hassle-free and fast loan approval process. 
  • Decide your tenure: Choose a tenure that offers you the flexibility of repayment in easy monthly installments across a period of two (12) to 60 months. 

We offer the best Personal Loans designed to take care of your immediate financial needs and help you realize your life goals.

 

Benefits of Personal Loan

Applying for a Personal Loan with us comes with a range of benefits. These are:

  • Competitive interest rates: Get a Personal Loan from us that offers a reducing rate of interest throughout the repayment period.
  • Effortless loan management: Get straightforward Personal Loans and manage it from the comfort of your home with a few clicks on AU 0101. 
  • Debt consolidation: Consolidate all your high cost debts under a single umbrella with our Personal Loan with an affordable interest rate. 
  • Pre-approved offers: Our existing customers may be eligible for pre-approved Personal Loan offers with a preferential rate of interest without any documentation. 
  • Royale Interest Rates:  If you are a Royale customer, you can avail of preferential processing fees and interest rates with us.
 

Eligibility criteria

  • You should be an Indian resident.
  • You should be of minimum 23 years of age at the time of loan application and a maximum of 60 years at the time of loan maturity.
  • You can avail of a Personal Loan for a minimum repayment tenure of twelve months and a maximum repayment duration of five years.
  • You may apply for a maximum of INR 7,50,000.
 

How to Apply for a Personal Loan?

When you apply for a Personal Loan with us, we make sure that you do not have to waste even a single second that can be avoided. So, take advantage of our fast loan processing and live life to the fullest.

Follow these steps to apply for a Personal Loan.

  • Login to AU 0101
  • Click on the Offers tab
  • Pre-approved offers
  • Avail Pre-approved Personal Loan

Alternatively, you can visit our nearest branch to complete the Personal Loan application formalities with assistance from our experienced and friendly staff.

 

Documents required for Personal Loan

Getting a Personal Loan from us is a hassle-free process. We believe in keeping things simple. Therefore, the documents required for a Personal Loan are minimal. 
To ensure a faster disbursal of loan, have your Aadhaar card linked to your mobile number. 
 

What is the interest rate on a Personal Loan?

Be it planning a major life event or facing an unexpected expense, our Personal Loans are designed to help you manage your short-term financial needs without worries. Therefore, we have put a lot of thought into making our Personal Loans affordable by offering them at competitive interest rates. 
To ensure that you enjoy pocket-friendly Personal Loan EMI, get a Personal Loan from us at competitive interest rates. Reach us to know more.
 

Fees and Charges of Personal Loan

We have built relationships based on trust over the years of serving our customers with transparent and fair processes. We always believe in sharing the fees and charges applicable to our Personal Loan products with our clients upfront. 
  • Processing fee: Up to 5% of Approved Loan Amount + Applicable taxes
  • No charges for administration and documentation
  • Stamping charges: As per the State’s Stamp Act
  • Overdue interest: 3% per month on the outstanding amount
  • Prepayment/foreclosure charges:
    • If paid before 12 months of the last disbursement date, then 5% of the balance amount at the time of closure.
    • If paid after 12 months from the last disbursement date, then 3% of the balance amount at the time of closure.
 

FAQs

 

Q1. What is a Personal Loan?

A Personal Loan is a form of unsecured loan offered by various financial institutions to individuals or companies to meet their immediate financial needs. You may avail of a Personal Loan with minimal documentation without having to pledge collateral or security. You have the liberty to use the funds from the Personal Loan for any purpose, for example, high-ticket purchases, debt consolidation, etc. 

Q2. Where can a Personal Loan be used?

There is no restriction on the purpose for which you may use the Personal Loan. For example, you may get a Personal Loan to consolidate debt, make home renovations, make expensive purchases, medical emergencies, wedding expenses, travel expenditures, finance children’s education, or even invest elsewhere. Irrespective of the purpose of the Personal Loan funds, you must abide by the repayment schedule and make your monthly installment payments on time. 

Q3. What is the maximum amount of loan I can get?

The maximum amount of Personal Loans that you can apply for is INR 7,50,000. There is no demand for security or collateral to avail of a Personal Loan from us. Documentation required is minimal, with an easy and instant approval process on meeting the eligibility criteria. 

Q4. Can I get a Personal Loan during COVID-19?

Yes, you can avail of a Personal Loan during the COVID-19 pandemic. Many individuals and companies have been able to meet their financial requirements during the COVID-19 pandemic by applying for Personal Loans online. Many have availed of Personal Loans during the pandemic to meet several financial obligations instead of breaking into their savings or retirement funds.

Q5. How can I get a Personal Loan immediately?

The easiest method to avail of a Personal Loan that is disbursed immediately is to apply for it online. This form of Personal Loan application is convenient. Check your Personal Loan eligibility on AU 0101 and proceed to the next steps of online form filling. If you are unsure of your affordability factor, you may also check the Personal Loan EMI using the Online EMI Calculator available on the website of most financial institutions.

As soon as the formalities and documentation steps are completed, the lender initiates a verification process. On completion, the Personal Loan is immediately disbursed to your registered bank account.

Q6. How does a Personal Loan work?

A Personal Loan is more or less like most types of loans. Once you fill up and submit the application as well as the required documents, the lender checks your creditworthiness and proceeds towards approving or rejecting your request for a Personal Loan. If the request is accepted, you will receive a confirmation letter along with an agreement and a repayment schedule. On duly signing and accepting the details, the lender will transfer the approved funds to your registered bank account.

You are free to use the Personal Loan funds in any way you like. However, you should stick to the repayment schedule and fulfill your monthly installments on time.

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