Are you running low on cash and need some funds? You may consider applying for a personal loan in Ahmedabad. Being India’s sixth largest city, Ahmedabad is a hub of industrial, economic and commercial growth. Entrepreneurs from different corners of the country come here to set up their businesses, and that contributes to the high rate of development in the city. Major banks and NBFCs have operations here, which makes it easy to find the suitable financial products including personal loans. Both salaried and self-employed individuals can obtain these loans for any reason or purpose. Here at Loan Sumo, we help borrowers find the best personal loans in Ahmedabad.
Although we all wish for financial stability, very few can actually achieve it. Both business owners and salaried individuals can face problems related to low cash flow. The struggles worsen if you have little to no savings to rely on. A sudden emergency or an unplanned expense can wreck your monthly budget and leave you completely broke. On the other hand, if you are planning to buy a new gadget, go on your dream vacation or take on a home remodelling project, you will need a considerable amount of money. A personal loan in Ahmedabad can very well fulfil your financial needs in all situations.
A personal loan is an unsecured loan that allows you to borrow anywhere from Rs. 20,000 to Rs. 25 lakhs depending on your income and repayment capability. Being unsecured, personal loans require no collateral or security deposits. The loan term may last from 1 to 5 years and the payment is broken down into several instalments. You will need to keep up with timely repayments every month until the loan is fully paid off. The interest rate and the overall cost will depend on the lender and your credit ratings. If you have decent credit scores, you are likely to get good rates and terms when borrowing a personal loan in Ahmedabad.
As mentioned above, personal loans are perfect for a variety of needs. Most lenders will not ask what you plan to do with the money. However, you should only borrow when you absolutely need it and spend the money wisely. In most cases, personal loans in Ahmedabad are less expensive than credit cards. That is why people prefer these loans for emergencies and other situations. Here are some of the key features and benefits of personal loans that you must know about before going for it.
Though a high credit rating is always great, it does not mean that personal loans are exclusively for people with a perfect credit record. Thanks to lending platforms such as Loan Sumo, you can now explore your choices in personal loans for bad credit. Want to know if you are eligible for personal loans in Ahmedabad? Start by checking your credit scores. You can use the free CIBIL score checking tools for that. You can then look into the various loan offers from different financial institutions. If you want all the information in one place, you can simply get in touch with us and apply for a personal loan.
As mentioned above, banks, NBFCs, online lenders and lending platforms provide personal loans in Ahmedabad. Before applying for one, you should window shop and compare the various choices. Here’s a list of some of the most renowned providers and the rates they offer:
|Indian Overseas Bank||Rs. 1 lakh – Rs. 15 lakhs||1-5 Years||13.55%||1.01% to 1.10%|
|South Indian Bank||Up to Rs. 10 lakhs||1-4 Years||13.00%||0.50%|
|Tamilnad Mercantile Bank||Up to Rs. 2 lakhs||1-5 Years||13.75% – 15.75%||1%|
|State Bank of India||Rs. 25,000 – Rs. 15 lakhs||5 Years||12.75% – 14.75%||1% + applicable tax|
|Vijaya Bank||Up to Rs. 10 lakhs||1-5 years||13.50%||0.75% + applicable tax|
|YES Bank||Rs. 50,000 – Rs. 25 lakhs||1-5 years||10.99% – 17.99%||Up to 2.0% + applicable tax|
|Kotak Bank||Rs. 1 lakh – Rs. 30 lakhs||1-4 years||11.00% – 24.00%||Up to 2.50% + applicable tax|
|Indusind Bank||Rs. 1 lakh – Rs. 20 lakhs||1-5 years||11.49% – 20.00%||Up to 2%|
|Tata Capital||Rs. 75,000 – Rs. 20 lakhs||1-6 years||11.49%-19.00%||Up to 2.0% + applicable tax|
|RBL Bank||Rs. 1 lakh – Rs. 20 lakhs||1-5 years||14.00% – 20.00%||Up to 2.0% + applicable tax|