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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.
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What is a Shopping Loan?
A shopping loan is a type of personal loan designed to help individuals purchase their desired products without financial constraints. Whether you're upgrading to the latest gadgets, buying designer apparel, or furnishing your home, a shopping loan provides easy and instant access to funds. With quick approvals, flexible repayment options, and minimal documentation, this loan ensures that you can shop worry-free. You can use the loan amount for both online and offline purchases, covering expenses like electronics, fashion, home essentials, and more. Enjoy competitive interest rates and a seamless application process, allowing you to fulfill your shopping needs conveniently.
Features of Shopping Loan
Instant Loan Approval
Get your shopping loan approved instantly with minimal documentation.
Flexible Repayment Options
Choose a repayment tenure that best suits your financial situation.
No Collateral Required
Enjoy unsecured financing without the need to pledge any assets.
Covers All Shopping Expenses
Use the loan for purchasing gadgets, fashion, home essentials, and more.
Attractive Interest Rates
Benefit from competitive interest rates for an affordable shopping experience.
High Loan Amounts Available
Borrow up to ₹25 lakh based on your eligibility.
Easy Online Application
Apply conveniently from your home with a paperless process.
Reasons To Get a Shopping Loan from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure the loan. The funds are sanctioned based on your eligibility parameters—that’s all!
Flexible Repayment Period
Choose a repayment tenure of 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 application.
Facility to add a co-applicant
Adding a co-applicant to the Personal Loan for Shopping can increase your eligibility. You can also get a higher loan amount to shop for different things.
Interest Rates Available for
Shopping Loans
Find out the interest payable on the Loan for Shopping 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 Loan for Shopping?
Find out if you are eligible to apply for a Loan for Shopping
Salaried
Self-employed Professional
Self-employed Non - Professional
How to Apply for Shopping Loan
Eligibility Criteria for Loans for Shopping
Are you eligible for a Loan for Shopping? 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
Personal Loans for Shopping
| 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 LONG TERM PERSONAL LOAN
Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us.
Aditya Birla Finance Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
Aditya Birla Finance Customer
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
Call 1800 270 7000 OR write to us at care.finance@adityabirlacapital.com.
For more details, to know your personal loan eligibility, access the product brochure or to set a meeting with our relationship manager.
The information presented on this page is intended solely for general informational purposes and does not constitute financial, investment, or professional advice. This content has not been authored by, nor does it represent an official communication from, Aditya Birla Capital Digital Limited. It is compiled from publicly available secondary sources, which may be subject to change without prior notice. Readers are strongly advised to conduct their own independent research and seek guidance from licensed financial advisors before making any investment decisions. All investments carry inherent risks, including the potential loss of principal. Past performance is not indicative of future results.
FAQs on Shopping Loans
Yes, you can buy home appliances with a Loan for Shopping. The loan is a multipurpose loan which does not restrict the usage of funds.
The maximum amount of loan depends on your eligibility qualifications. Aditya Birla Capital offers an online eligibility calculator that can help you find out the maximum loan amount you can get.
Yes, you can apply for the Shopping Loan without a PAN Card. However, you should submit any other document as proof of identity in that case.
The Loan for Shopping calculators on Aditya Birla Capital's website or mobile application are free to use.
Your credit score determines whether your loan will be approved. If you have a credit score of 750+, your loan application will be processed, and the funds will be disbursed shortly. However, applications are rejected at lower scores.
Aditya Birla sanctions and disburses the shopping loan quickly if your application is correct and the documents are in order.
With Aditya Birla Capital, you can get a shopping loan up to 84 months.
You can get a loan for a grocery store. A shopping loan does not restrict the usage of funds.
You can apply for a shopping loan online or offline. For the online mode, you can visit the website or mobile application of Aditya Birla Capital. For the offline mode, visit the nearest branch and apply for the loan offline.