Aditya Birla Finance Limited (ABFL), a subsidiary of Aditya Birla Capital Limited, is one of the leading NBFCs (Non-Banking Financial Companies) in India. ABFL offers a wide range of financing and wealth management solutions to its customers across the country. A personal loan is one of the prominent products offered by ABFL to cover varied immediate financial requirements of customers.
Aditya Birla personal loan eligibility criteria
Aditya Birla offers a personal loan to all salaried individuals to help them tackle the cash crunch they may face in daily life, such as medical expenses, home renovation, wedding, big-ticket purchase, holiday, and a lot more. Salaried individuals with a good credit score can get a personal loan up to Rs. 15 lakh at a nominal interest rate with quick approval.
Aditya Birla personal loan eligibility criteria for salaried professionals:
Applicant needs to have a good credit score to get a personal loan from Aditya Birla Finance
Total work experience
Salaried professional with a regular income and at least two years work experience in a well-reputed company
Up to 15 lakhs
From 6 months to 36 months
14% p.a. to 26% p.a.
What are the top factors that affect your Aditya Birla personal loan eligibility?
Age: Lenders check your age to determine your eligibility for a personal loan. Your age should be between 23 years and 55 years to get a personal loan from Aditya Birla Finance. Because young borrowers have much time to earn money and repay a personal loan, they can more easily qualify for Aditya Birla personal loan than individuals who are in their 50s or approaching retirement.
Monthly salary: A personal loan applicant should have a regular income and a stable job in a reputed company to get a personal loan from Aditya Birla Finance. Your monthly income impacts how much personal loan you can get at what interest rate. Moreover, your monthly instalment is also based on the salary you draw every month.
Credit score: Since a personal loan is an unsecured loan, lenders check your credit score to assess your payment behaviour. Your credit score shows how responsible you are in handling your debts. You need to have a good credit score to get a personal loan from Aditya Birla Finance. Generally, a credit score of 750 or above is considered perfect for a personal loan.
Job and work stability: Lenders also look into job stability and the organisation you work with before processing a personal loan application. It gives a clear picture of a regular stream of income. Generally, salaried individuals should have at least 2 years of work experience and should have worked for at least 1 year in their job. While a self-employed person needs to have a minimum of 2 years of experience in their current business and the business should be profit-making.
Documents required for Aditya Birla personal loan
Applicants need to submit the following documents to get a personal loan from Aditya Birla Finance.
For salaried employees
- Proof of identity: Passport / Driving license / Voters ID / PAN card /Aadhaar card
- Address proof: Leave & License Agreement/ Ration card /Utility bill (not more than 3 months old) / Passport - provided the passport has the present address mentioned in the loan application form
- Credit information: PAN card to check your credit history
- Income proof: Salary slips for the last 3 months along with salary certificate and latest Form 16
- Salary slips for the past 3 months
- Bank statement: Bank statement showing salary being credited for the last 3 months
- You can also provide additional documents that demonstrate your extra income from other sources to enhance your eligibility
How to apply for Aditya Birla Finance personal loan through Afinoz?
Applying for a personal loan on Ainoz is very easy. You can apply for a personal loan by clicking ‘Apply Now’ button on the personal loan page. Now fill the short and simple personal loan application form to check your eligibility. You will receive exclusive offers from multiple lenders, including Aditya Birla Finance (ABFL), based on your eligibility. As per the requirements and offers, you can apply for a personal loan from Aditya Birla Finance.
Why is Afinoz?
Afinoz is a one-stop destination for customised rate quotes on loans and investment products in India. The company is owned by DS Finworld Pvt. Ltd. Our objective is to make personal financial decisions easy, seamless and transparent for our customers. We have designed a system that provides comprehensive results and enables customers to compare products simultaneously so that they can access the right product.
You can contact our team to get more information or apply for a loan or investment by calling on +91 120 411 0376 or by emailing at firstname.lastname@example.org. Afinoz.com provides solutions that are quick, reliable, transparent, confidential and, above all, free.
Ques. Do I need to provide any collateral or guarantor to get a personal loan from ABFL?
Aditya Birla Finance offers a collateral free personal loan for all salaried individuals with a good credit score. You don’t need to offer any asset or security to get the loan.
Ques. How much time does ABFL take to process a personal loan application?
You can get a personal loan approved as soon as within 30 minutes if you apply for the loan online.
Ques. What is the maximum loan amount I can get from Aditya Birla Finance?
Aditya Birla Finance offers a personal loan up to Rs. 15 lakh. However, ABFL will decide the maximum loan amount for which you are eligible based on various factors, such as your income, credit score and credit history.
Ques. What is the processing fee applicable on a personal loan?
ABFL charges a processing fee up to 2% of the loan amount.
Ques. Can I prepay Aditya Birla personal loans?
Prepayment or partial payments are not permitted for the first 6 months of the loan tenure.