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Instant Personal LoanGet quick funds with Aditya Birla Capital Instant Personal Loan
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Personal Loan EligibilityCheck your Aditya Birla Capital Personal Loan eligibility
Personal Loan Interest RatesEnjoy low personal loan interest rates for affordable repayments
Are you eligible for a Personal Loan? Find out now!
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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,690
No. of Employees
61,600+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.53 Lakh Cr
Consolidated Lending Book
INR 1.65 Lakh CrCorporate Governance Policies
- Policy for appointment of Statutory Auditors
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- Corporate Social Responsibility
- Fair Practices Code
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- Familiarization Programme for Independent Directors
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Personal Loan EMI CalculatorEstimate your monthly loan repayments with Personal Loan EMI Calculator
Home Loan Eligibility CalculatorCalculate the expected EMI of your loan for easier repayments
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Interest Rates for Personal Loans
- Easy & flexible repayment options
- Easy application process with quick sanctions
- Online EMI calculator for quick calculations
Personal Loan
Interest Rates for 2024
Find out the interest payable on Aditya Birla Capital Personal Loan to plan your repayments effectively.
Loans up to 12 months| Interest is calculated on the Short Term Reference Rate (STRR). |
| STRR w.e.f. from March 1, 2024 is 19.45% p.a. |
For Self Employed Non Professional| Interest is calculated on the Long Term Reference Rate (LTRR). |
| LTRR w.e.f. from March 1, 2024 is 20.45% p.a. |
Fees and Charges for Personal Loan
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹500 + GST per instance |
| Default Penal charges | 3% of the pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan reschedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual, if applicable |
| Pre-closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual, if applicable |
| Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
How to Reduce Personal Loan Interest Rates
There are ways in which you can reduce the interest rates on your Personal Loan. These ways are as follows -
ABC Of Calculators
Your estimated EMI amount
₹ 0Total Interest
₹ 0Total Payout
₹ 0You are eligible for a loan of
₹ 0*EMI @ 9% Interest Rate
₹ 0*
BALANCE TRANSFER LOAN
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Reduced Interest Rates. -
Lower Monthly Payments.
TOP UP LOAN
- Easy application process
- Borrow up to 80% of property value
Different financial needs, different loans, one app - ABCD
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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Range of loan options for different needs
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Quick sanctions and disbursals
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Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us.
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
FAQs on Personal Loan Interest Rates
You cannot get a Personal Loan with a zero interest rate. An interest rate applies to all types of loans.
You can get a lower interest rate on a Personal Loan if you have a good credit score and when you compare and choose a lender offering the lowest rates.
Different lenders offer different interest rates on loans. If you find a lender offering a lower interest rate and switch, you can reduce the loan's interest outgo.
The interest rates determine your loan EMIs. If the interest rates are high, the EMIs will be higher and vice versa.
Some factors that influence the interest rate on Personal Loans are as follows -
• The lender’s pricing policies
• Your credit score
• The macro interest rates
Personal loans offer lower interest rates compared to credit cards. As such, you can reduce the interest you incur when you choose Personal Loans as your preferred credit mode.
If you have chosen floating-rate Personal Loans, a decrease in the interest rates would reduce the interest rates on your loan, too. However, the interest rates remain fixed with fixed-rate loans throughout the repayment tenure.
If the interest rate on your loan is too high, you can consider a balance transfer. Find a lender offering lower interest rates and transfer the existing loan to reduce the interest outgo.
The repayment tenure is inversely proportional to the interest outgo. If you choose a longer tenure, the EMIs will be lower but will pay higher interest. On the other hand, with shorter tenures, you can repay the loan quickly and reduce the overall interest expense.
The EMI calculator is a holistic tool which not only shows the EMIs payable for the loan but also shows the total interest payable over the chosen repayment tenure.
A low interest rate is good for a Personal Loan as it reduces your interest expense and helps make the loan more affordable.
The lowest interest rate depends on the lender you choose. For instance, Aditya Birla Capital offers Personal Loans based on its Short and Long-Term Reference Rates, which start at 19.45% p.a.
Personal Loans are unsecured loans that do not require collateral. As such, offering collateral will not affect the interest rate.
With Aditya Birla Capital, you can get floating-rate Personal Loans, which change when there’s a change in the Reference Rates.
No loan has zero interest rates. Every type of loan charges an interest rate for the funds advanced.