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Home LoanFind customised home loan solutions for your unique needs
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Personal LoanMeet all your dreams and needs with a collateral-free Personal Loan
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Instant Personal LoanGet quick funds with Aditya Birla Capital Instant Personal Loan
Long Term Personal LoanEnjoy affordable repayments and a flexible tenure with Aditya Birla Capital
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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Read about InsuranceInsurance and it's aspects for laymen
Read about InvestingInvestments and their jargon - simplified
Read about Loans and FinancingKnow all about loans and their management
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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Experience ConseQuest- A game where your decisions drive your future.
Long Term Personal Loan
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
What is a Long-term Personal Loan?
A long-term personal loan is a flexible financing option designed for individuals seeking substantial funds with extended repayment periods. Whether you need to consolidate debt, fund a wedding, cover medical expenses, or manage other big-ticket expenses, this loan provides an affordable solution with structured EMIs. The longer tenure ensures lower monthly payments, reducing financial strain while allowing borrowers to meet their needs without immediate repayment pressure. With minimal paperwork, quick disbursal, and competitive interest rates, a long-term personal loan helps you achieve your financial goals without disrupting your cash flow.
Features of Long-term Personal Loan
Flexible Repayment Tenure
Choose a repayment period that suits your financial planning, typically ranging from 12 months to 84 months.
High Loan Amounts
Avail higher loan amounts to meet significant financial needs without collateral (subject to eligibility).
Lower EMI Burden
Longer tenure results in lower monthly instalments, making repayments manageable.
Quick Processing & Disbursal
Enjoy a seamless application process with fast approvals and funds transferred directly to your bank.
Minimal Documentation
Hassle-free documentation ensures a smooth borrowing experience.
Reasons To Get a Long-Term Personal Loan from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure a Long-Term Personal Loan. The funds are sanctioned based on your eligibility parameters—that’s all!
Flexible Repayment Period
Choose a repayment tenure of up to 84 months to ensure affordable EMIs for easy repayments.
Predictable EMIs
With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments
Quick Sanctions
Get the funds transferred to your account within 24 hours of applying for the loan.
Facility to add a co-applicant
Adding a co-applicant to the Long-Term Personal Loan can increase your eligibility. You can also get a higher loan amount to meet different needs.
Interest Rates Available for
Long-Term Personal Loans
Find out the interest payable on the Long-Term Personal Loans to plan your repayments effectively.
Loans up to 12 months| Loan Type | Interest |
|---|---|
| The Short Term Reference Rate (STRR) | 19.45% p.a. w.e.f.from March 1, 2024 |
Loans more than 12 months| Loan Type | Interest |
|---|---|
| The Long Term Reference Rate (LTRR) | 20.45% p.a. w.e.f. from March 1, 2024 |
Who Can Apply For a Long-Term Personal Loan?
Find out if you are eligible to apply for a Long-Term Personal Loan
Salaried
Self-employed Professional
Self-employed Non - Professional
Get A Long-Term Personal Loan In 5 Easy Steps
Eligibility Criteria for Long-Term Personal Loans
Are you eligible for a Long-Term Personal Loan? Check whether you meet the criteria.
Documents Needed
- Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
- Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
- Bank statement where income is credited Last 6 months
- Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Eligibility criteria
* A higher age limit is applicable at the time of loan maturity.
Fees and Charges for Long-Term Personal Loans
| 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. |
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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Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN
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 Long-Term Personal Loans
A Long-Term Personal Loan offers longer repayment tenures for affordable EMIs.
The maximum repayment tenure that Aditya Birla Capital offers is limited to 84 months or 7 years. As such, you cannot get a 10-year Personal Loan.
You can use the Long-Term Personal Loan to consolidate other debts. This will help limit the interest expense on multiple loans and make it easier to service one loan instead of several.
Aditya Birla Capital offers Long-Term Personal Loans to self-employed individuals provided they fulfil the eligibility parameters of the loan.
You can negotiate the lender's interest rate and get a lower rate on the Long-Term Personal Loan. Moreover, you can choose a suitable repayment tenure to afford the loan.
The maximum amount will depend on your eligibility qualifications. You can use the loan eligibility calculator to find the maximum loan that you can borrow basis your eligibility.
The monthly payments can be calculated using the online EMI calculator. Enter the loan amount, repayment tenure, and the applicable interest rate, and the calculator will calculate the monthly payments instantly.
You need a steady source of income to get a Long-Term Personal Loan. Even if your income is not fixed, which can happen if you are self-employed, you can qualify for the loan if the income is steady.
A Long-Term Personal Loan does not require collateral security. It is an unsecured loan which is sanctioned based on your eligibility parameters.
There is no minimum income required to get the Long-Term Personal Loan. You can get a loan if you have a steady source of income from an employment or business.
A student who fulfils the eligibility parameters of the Long-Term Personal Loan and has a steady source of income can apply for the loan.
Long-Term Personal Loans are offered for a longer repayment tenure, while Short-Term Loans are offered for a short duration. This is the primary difference between the two.
The maximum repayment tenure for a Personal Loan is 7 years. As such, you cannot take the loan for 20 years.
Usually, home loans have longer repayment tenures because of a larger loan quantum.