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Personal Loan

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Top Features of AU Personal Loan

Why AU Personal Loan?

    Whether it's planning a vacation, decorating your home, or obtaining the latest gadgets, having financial support can help transform dreams into reality.

    With appealing interest rates and prompt loan disbursement, we can expedite the fulfilment of your Personal Loan needs, enabling you to realise every aspiration close to your heart.

    Calculate Personal Loan EMI with our - Personal Loan EMI Calculator

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Features of AU Personal Loan

With a Personal Loans from us, you spend less time with endless processes and approvals and more on living your dreams.

Here’s what you can get:

  • 5^Step Digital Process: Get a Personal Loan in an easy 5-step digital process. Experience true convenience at your fingertips.
  • No collateral: 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: Enjoy easy and hassle-free loan process with minimal documentation.
  • Flexible Tenure: Choose from 12 to 60 months tenure for easy monthly instalments and repayment structure that best suits you.
 

Benefits of AU Personal Loan

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

Competitive Interest Rates

Get a Personal Loan from us that offers a reducing rate of interest throughout the repayment period.

Effortless Loan Management

Manage your Personal Loans from the comfort of your home with a few clicks.

Debt Consolidation

Consolidate all your high-cost debts under a single umbrella with our Personal Loan at 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 Benefit

If you are a Royale customer, you can avail preferential processing fees and interest rates with us.
 

Personal Loan Eligibility Criteria

  • You should be an Indian resident.
  • You should be of minimum 23 years of age at the time of Personal Loan application and a maximum of 60 years at the time of loan maturity.
  • You can avail a Personal Loan for a minimum repayment tenure of twelve months and a maximum repayment duration of five years.
  • You may apply for an amount up to INR 10,00,000.
 

Steps to Apply for Personal Loan Online

When you apply for a Personal Loan with us, we ensure you don't waste even a single second. Take advantage of our fast Personal Loan processing and live life to the fullest.

Follow these steps to apply for a Personal Loan:

Step

Description

1.

Click on the Apply Now button: Start your application process by clicking on the "Apply Now" button above.

2.

Verify your details: Ensure that all your personal and financial details are accurate and up to date.

3.

Check your pre-approved loan offer: See if you have any pre-approved loan offers available.

4.

Alternative Option: You can visit our nearest branch to complete the Personal Loan application formalities with assistance from our staff.

 

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 4% 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.
 

T&C Apply

^Applicable on Pre - Approved AU Personal Loans.

 

FAQs Related to Personal Loan

 

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 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 10,00,000. 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 pandemics like COVID-19?

Yes, you can avail of a Personal Loan during pandemics like the COVID-19. 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.

Q7. What is the annual rate of interest at AU Small Finance Bank?

The annual rate of interest is up to 30%, with an average rate of 18%.

Q8. What is the annual repayment tenure at AU Small Finance Bank?

The repayment tenure ranges from 12 months to 60 months.

Q9. What are the advantages of taking a Personal Loan with AU Small Finance Bank?

Advantages include disbursement within 24 hours, competitive interest rates, lower processing fees, transparent transaction processes, the ability to select a convenient repayment tenure, minimal documentation, and an end-to-end digital application process.

Q10. Can I foreclose my Loan with AU Small Finance Bank?

Yes, you can foreclose your loan.

Q11. Does a Personal Loan offer tax benefits?

No, a Personal Loan does not offer tax benefits.

Q12. What is the minimum amount of Personal Loan offered by AU Small Finance Bank?

The minimum amount offered is INR 25,000.

Q13. Do I need to provide security or collateral to apply for a Personal Loan with AU Small Finance Bank?

No, you do not need to provide any security or collateral.

 

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