Description
Aditya Birla Finance Personal Loan Details
A personal loan is the best option for individuals to fulfill financial emergency they may experience in buying a house, vehicle, small home renovations, miscellaneous bills, moving expenses, wedding expenses, vacations, children’s higher education etc. Aditya Birla Finance offers Best personal loan to all salaried individuals with a good credit score. Broadly, it covers a wide range of immediate financial requirements with quick loan approval and disbursal.
- No change of interest rates during the entire repayment tenure
- No hidden cost or any other administrative charges
- Maximum quantum of loan amount at minimum net monthly income
- Borrower can easily pre-pay or part pay from the outstanding loan amount without bearing any additional cost
- Balance transfer facility is available for your existing high cost loan
Aditya Birla Personal Loan Interest Rate & Processing Fee
Aditya Birla Personal loan interest rate starts at as low as 14% per annum and can go up to 24% per annum as the applicable rate of interest varies from each applicant to another based on their profile.
|
Particulars |
Details |
|
Interest Rates |
Starting at 14% |
|
Loan Amount |
₹ 25,000 - ₹ 15 Lakh |
|
Repayment |
6 - 36 months |
|
Processing Fee |
Up to 2% of the loan amount |
|
Foreclosure Charges |
4% of the outstanding amount in the first year, 3% in the 2nd year & 2% in the 3rd year |
|
Pre/Part payment Charges |
NIL – Permissible only after 6 months |
|
Minimum Monthly Income |
₹ 25,000 |
|
Dishonour Charges |
₹ 750 for every instance |
|
Lowest EMI |
₹ 3,187 per Lakh |
|
Cheque Bouncing charges |
₹ 750 for every bounced cheque |
|
Loan Cancellation or Rebooking charges |
4% of the disbursement amount |
Features & Benefits of Aditya Birla Personal Loan
Aditya Birla Finance is known to be a renowned financial service provider for a very long time. Aditya Birla Personal loan has many key features, some of the major ones are as follows;
Easy and Quick Disbursal – Aditya Birla Finance personal loans are known to be one of the quickly disbursed loans. The bank ensures that the funds reach to you in the least time possible when you are in need.
Collateral Free Loans – Aditya Birla Finance offers its personal loan without any obligation of pledging a security or a guarantee against the amount of loan to be taken from them.
30 Minutes – Aditya Birla Finance assures that an applicant can get their loan approved online in less than 30 minutes, once the loan is processed and approved, the amount can be disbursed directly to the borrower’s account.
No documentation – It is generally acclaimed that most of the loan providers boast of themselves as their process require minimal documentation. However, the process at Aditya Birla Finance is entirely paperless and requires no documentation during or after the processing of the loan.
Easy Application – Aditya Birla Finance enables its customers with a hassle free and simple application process. As claimed by the bank, one can apply for a loan just by visiting their website and start the process within few minutes.
Flexible Tenure – Aditya Birla Personal loan comes with various repayment options in terms of tenure of the loan. An applicant can choose to repay the loan in as less as 12 months from the date of disbursement and can also stretch the same for up to 36 months according to their needs and expenses.
Documents Required for Aditya Birla Finance Personal Loan
The applicant should produce the following documents according to their category for obtaining a personal loan from Aditya Birla Finance.
- Filled up loan application form with duly signed passport size photos
- KYC documents as requested
- Identity proof: Voter ID/Passport/Driving License/PAN
- Residential Address proof: Registered Rent Agreement/Utility Bill (not more than3months old)/Passport
- Income proof: Salary slips for the past 3 months
- Salary account’s bank statement for the past 6 months
- You can also provide additional documents that demonstrate your extra income from other sources to enhance your eligibility
Aditya Birla Personal Loan Eligibility Criteria
Aditya Birla Finance offers personal loans to salaried individual as well as self-employed professionals as business loans;
- An applicant must be of age between 23 years to 55 years
- Maximum age permissible at the time of loan maturity is 60 (For salaried individuals) & 55 (for self-employed professionals)
- Net monthly income is required to be minimum of ₹ 25,000
- Applicant must be a resident at the current place of living for a minimum of 2 years
| Read More: Aditya Birla Finance Limited Personal Loan Eligibility Criteria |
Aditya Birla Finance Personal Loan EMI Calculator
Aditya Birla Finance offers its loan at the most competitive rates, also the inbuilt EMI calculator assists you in deciding the most suitable amount that you wish to spend every month as instalment against your desired amount of loan over a flexible repayment period. With the help of Personal Loan EMI Calculator at Afinoz.com, now you can easily calculate the instalment amount to be paid every month including the other charges and administrative expenses attached with the loan amount.
However, for you to easily understand the basics of the loan process and the anticipated EMIs, we have prepared a table for various amounts at applicable interest rates;
Various amounts of loan taken at a rate of interest of 14% (effective rate of interest – 0.012% per month)
|
Loan Amount |
ROI @ 14% |
Tenure (Months) |
Repayment |
EMI |
Interest |
|
₹ 2,00,000 |
0.012 |
12 |
₹ 2,15,489 |
₹ 17,957 |
₹ 15,489 |
|
₹ 3,00,000 |
₹ 3,23,233 |
₹ 26,936 |
₹ 23,233 |
||
|
₹ 4,00,000 |
₹ 4,30,978 |
₹ 35,914 |
₹ 30,978 |
||
|
₹ 5,00,000 |
₹ 5,38,722 |
₹ 44,893 |
₹ 38,722 |
||
|
₹ 10,00,000 |
₹ 10,77,445 |
₹ 89,787 |
₹ 77,445 |
Comparative: -
Loan amount of ₹ 2,00,000 taken for a tenure of 12 months from various banks at competitive interest rates:
|
Bank |
Loan Amount |
ROI |
Tenure (Months) |
Repayment |
EMI |
Interest |
|
ICICI |
₹ 2,00,000 |
0.009 |
12 |
₹ 2,12,395 |
₹ 17,699 |
₹ 12,395 |
|
HDFC |
₹ 2,00,000 |
0.013 |
₹ 2,17,186 |
₹ 18,098 |
₹ 17,186 |
|
|
SBI |
₹ 2,00,000 |
0.010 |
₹ 2,13,517 |
₹ 17,793 |
₹ 13,517 |
|
|
IndusInd |
₹ 2,00,000 |
0.012 |
₹ 2,16,054 |
₹ 18,004 |
₹ 16,054 |
|
|
Aditya Birla |
₹ 2,00,000 |
0.012 |
₹ 2,15,489 |
₹ 17,957 |
₹ 15,489 |
How To Apply for Aditya Birla Personal Loan?
If you are a salaried/self-employed individual (between 23 and 55 years) with a regular source of income, you can either apply online or visit the nearest Aditya Birla personal loan centre to apply for a personal loan. Your loan application should be accompanied by a bank statement of last 3 months, salary slip for the last 3 months and the usual KYC documents.
Post the application, you can do an Aditya Birla personal loan login to your profile at their official website/online application to know the Aditya Birla personal loan application status.
Moreover, the Aditya Birla personal loan customer support team will inform you about your Aditya Birla Personal Loan status through regular email and SMS updates.
Why should you apply for Aditya Birla Finance Personal Loan through Afinoz.com?
Afinoz.com is one of India's leading personalized financial marketplaces and has been awarded for the same by market leading researchers. The company has created a diversified platform which lets you choose the best personal loan from the plethora of options available in the market.
Instant Approval – After you choose your desired product, once you fill in and submit the application form along with the mentioned or required documents, you will get your e-approval within 2 to 3 days of your application.
Real-time application tracking – Keep track of your application status in real-time with a unique transaction id which gets generated when your loan application is successfully submitted. We ensure that all the applicants are well informed about their application process at each step via SMS and emails.
Online eligibility check – Do all your dealings with the NBFCs online, through our platform. Provide your basic information and our online personal loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Aditya Birla Finance for your personal financing needs.
Secure Environment – Afinoz.com has a built-in security mechanism in place for all of your personal information which is shared with us, we have stored it in a secure environment within our system. This information is then sent to the NBFC in an encrypted format and is processed through a secure channel.
No third-party agent – Through its platform, the online loan application process availed through Afinoz.com is absolutely free. Through Afinoz, one can directly approach multiple banks online without involving any agent and therefore avoiding unnecessary delays and additional costs.
Free quotations – Explore and avail online deals on Aditya Birla Finance personal loans and free un-biased quotes of personal loan with most suitable interest rates. All you have to do is select the loan amount that you wish to borrow and the anticipated repayment tenure of your personal loan. You will get a targeted online quote within minutes of your application.
Aditya Birla Finance Personal Loan Login
Aditya Birla Finance offers its customers with paperless and minimum documentation personal loans. An applicant can visit the website or can log in through the app using their registered mobile number and that OTP generated on that number. Once logged in, an applicant can explore through their account for various products being offered, and can also check the status of their application under processing.
Aditya Birla Finance Personal Loan Statement
All the information regarding your personal loan from Aditya Birla Finance can be retrieved from your account by visiting the online site. Once you log in to your account, you can revisit all the transactions that have been made through your loan account, interest rates applicable and the total monthly outgo in terms of principal and interest being paid towards the loan repayment.
Aditya Birla Personal Loan Customer Care Number
All the customers of Aditya Birla Finance can avail the executive services on a toll-free number 1800-270-7000, where customer service executives are present 24X7 to solve all the queries and concerns with solution-based approach. Here, all the executives are highly trained and equally supportive for all that a customer needs regarding their grievances.
Aditya Birla Finance Personal Loan Status
You can have all the knowledge about your Aditya Birla personal loan status at your fingertips when you do an Aditya Birla personal loan login to your profile at their official website/online application. At the time of submission of your loan request, an application id will be generated for you and you can keep track of your Aditya Birla personal loan status with the help of this id in real time.
In addition, you will receive regular email and SMS updates related to your personal loan application from the Aditya Birla personal loan customer support team who will be more than happy to help you at every stage. They will also intimate you timely if any changes are made in the Aditya Birla personal loan rate of interest.