Aditya Birla Personal Loan – Check Eligibility & Interest Rates Online

Facing a short-term financial problem? Need funds for a personal project? Applying for the Aditya Birla Personal loan online may be a good idea! Founded in 1991, Aditya Birla Finance Limited is one of the top five privately-held non-banking financial companies. Based on AUM or assets under management, this NBFC has over 46 branches across India. Among the many financial products and services that the company provides, its personal loans are some of the most popular in the market. Borrowers from around the country have relied on these loans to meet their funding needs.

If you have never taken out a personal loan before, it makes good sense to get to know the product beforehand. Here at Loan Sumo, we aim at helping you find the most suitable financial products at the best rates and terms. We can also help you get fast approval on your Aditya Birla personal loan online application.

When to get Aditya Birla personal loan online?

Financial problems can give you sleepless nights. While it is common to face low cash flow issues from time to time, a total financial breakdown occurs when you fail to maintain a balance between your income and expense. Sticking to the monthly budget becomes impossible when you have to constantly take care of unplanned expenses. In such situations, you may not even be able to save money for the future. Not having a decent savings account means you have to rely on loans when emergencies present themselves. In a desperate attempt to obtain cash, you may see quick online cash loans. However, such loans often provide small amounts of money that barely helps you.

If you need a sizeable amount at decent interest rates and with flexible repayment terms, Aditya Birla personal loans would be your best bet. Unlike regular bank loans that take forever to get sanctioned, these are instant personal loans have a quick approval process. You can take out this loan for various purposes such as urgent car repair, medical emergency, rent or utility bill payment, wedding, child’s education, vacation, credit card debt payment, purchase of the latest gadget or appliances, home improvement and much more. You may also invest the money in your business. However, you should look for better options in business loans first.

Reasons to choose Aditya Birla personal loan online

When looking for personal loans, you are sure to come across several options. While some will fit your needs perfectly, others may not. Selecting the correct loan product is key to overcoming financial chaos smoothly. On the other hand, getting stuck with the wrong loan might make the situation worse. The Aditya Birla personal loans provide a number of features and benefits that tip the scales in its favour. If you are in two minds about whether or not you should apply for the Aditya Birla personal loan online, you should first carefully evaluate your needs. Then you should see if the features of the loan can fulfil your requirements.

Features and benefits:

  • Aditya Birla personal loans are unsecured and do not require collateral or security deposits.
  • Depending on your eligibility and repayment capacity, you may be able to borrow as much as Rs. 50 lakhs.
  • You can apply for the Aditya Birla personal loan online. That means you do not need to visit the bank’s branch or wait in queues.
  • Aside from easy online application, the loan also comes with fast approval. If you qualify for the loan, you can get the approval in a matter of 30 minutes!
  • If you are an existing customer of the Aditya Birla Financial Services, you won’t need to provide any processing fee for the personal loan.
  • You do not need to provide a guarantor to get the approval.
  • You can make partial prepayments without having to pay any additional charges. However, partial payments are allowed only after 6 months. If you decide to go for part-prepayment, you would need to pay Rs. 25,000 or more at once.
  • You can use the Aditya Birla personal loan online application to refinance any of your existing loans.
  • To make repayment easy and hassle-free, the company has allowed payment through NACH (National Automated Clearing House) and ECS (Electronic Clearance Service).
  • Do you want to improve your chances of getting the approval? You can get a co-applicant and club your income together.
  • Aditya Birla personal loans come with a fixed interest rate. That means you need to pay the same amount of interest in each of your EMIs.

Aditya Birla personal loan online – Eligibility and interest rates

Before you decide to apply for the Aditya Birla personal loan online, make sure that you are eligible for it. Every lender puts forth some qualifying criteria that you need to fulfil. For example, lenders require you to have good repayment capacity, and they judge your creditworthiness by looking at your credit score and income. Having excellent credit score makes you eligible for the best rates and terms. However, having poor credit rating can get your application rejected. Here are some of the other basic eligibility requirements that you need to meet:

  • You need to be between the ages of 23 and 60.
  • Your minimum monthly income should be Rs. 25,000.
  • You must have good credit scores and past loan performance.

Aside from eligibility, you should also find out about the overall cost of the loan. You can simply carry out a rough calculation based on the rates and charges offered by the company. Here’s a basic overview of the same.

Loan amount Up to Rs. 30 lakhs
Tenure 1-5 years
Interest rates 11.00% – 13.75%
Processing fee 1%
Pre-closure charges Up to 4%