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Why should you Apply for Personal Loan From ABCL?

Aditya Birla Capital provides instant personal loans for salaried people with a good credit score. You can use this personal loan to fund various financial requirements such as medical emergencies, buying household items, child's education expenses, wedding expenses, home renovation, or travel. It's a quick solution for all your personal financial needs. Aditya Birla Capital is here to help you with your financial goals!

  •  Maximum personal loan up to 40 Lakhs

  •  Lower Interest rates

  •  Flexible loan tenure up to 7 years

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Benefits of ABCL Personal Loan

Applicant can club income of co-applicant to enhance eligibility.

Flexible repayment options.

Flexible tenure options up to 7 years.

Interest rates remain unchanged throughout the loan tenure.

Maximum loan amount of Rs 40 lakh.

No security or collateral required to avail of the loan.

Repayment options: ECS/NACH.

Revision of Reference Rates for determining Interest Rates on loans given

    ABCL has increased its Long-Term Reference Rate (LTRR) by 20 bps to 20.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor greater than 12 months that are linked to the LTRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.

      ABCL has increased its Short-Term Reference Rate (STRR) by 20 bps to 19.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor up to 12 months that are linked to the STRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.

Get A Personal Loan In 5 Easy Steps

STEP
01

Determine your needs

STEP
02

Check loan eligibility

STEP
03

Calculate monthly installment

STEP
04

Submit the documents

STEP
05

Apply for a loan

STEP
04

Submit the documents

STEP
05

Apply for a loan

Quick and easy Personal loans for all your goals

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Medical emergency

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Wedding

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Debt consolidation

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Vacation

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Home renovation

Eligibility Criteria for Personal Loan

Before opting for a Personal Loan, ensure you qualify by checking your eligibility here.

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 incomeLast 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Disclaimer - All loans will be at the sole discretion of Our Digital Lending Partners.

Eligibility Criteria

Nationality
Age
CIBIL Score
Employment
Indian citizen
21 years to 60 years*
750 or higher
Salaried
* Higher age limit is applicable at the time of loan maturity.
Note - This is an indicative list that may change based on your actual loan application.

Loan Against Property

Pledge property, access funds
  • Life Insurance
    High LTV ratio for loans
  • Life Insurance
    Low interest rates, easy repayments

Balance Transfer

Lower rates, affordable repay
  • Life Insurance
    Reduced Interest Rates
  • Life Insurance
    Lower Monthly Payments

Customer Satisfaction Stories

Hear from our customers what they have to say about their experience.

Hear What The Experts Have To Say
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Hear What The Experts Have To Say
Kavya Mehra

Aditya Birla Health Insurance Customer

img Bangalore, India

Hear What The Experts Have To Say
Hear What The Experts Have To Say
Mr. Vivek Mishra

Aditya Birla Health Insurance Customer

1 Jan 1
Hear What The Experts Have To Say
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Mauris Porta Arcu Id Tortor Pulvinar Cursus. Duis Mattis, Diam Id . Sit Amet. Donec Velit Massa Pharetra A Elementum Sed Mattis Vel Tortor. Ac Neque Ut Purus Sed Nulla Felis Pharetra. Lobortis Aliquet Tortor Suspendisse Urna Mauris Justo Volutpat Odio. Dignissim Orci Ante Mattis Scelerisque Lacus Amet.

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Hear What The Experts Have To Say
Kavya Mehra

Aditya Birla Health Insurance Customer

img Bangalore, India

Hear What The Experts Have To Say
Hear What The Experts Have To Say
Mr. Baijnath Choudhary

Aditya Birla Capital

1 Jan 1
Hear What The Experts Have To Say
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Mauris Porta Arcu Id Tortor Pulvinar Cursus. Duis Mattis, Diam Id . Sit Amet. Donec Velit Massa Pharetra A Elementum Sed Mattis Vel Tortor. Ac Neque Ut Purus Sed Nulla Felis Pharetra. Lobortis Aliquet Tortor Suspendisse Urna Mauris Justo Volutpat Odio. Dignissim Orci Ante Mattis Scelerisque Lacus Amet.

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Hear What The Experts Have To Say
Kavya Mehra

Aditya Birla Health Insurance Customer

img Bangalore, India

Hear What The Experts Have To Say
Hear What The Experts Have To Say
Rocky Mahapatra

Aditya Birla Capital Limited

1 Jan 1
Hear What The Experts Have To Say
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Mauris Porta Arcu Id Tortor Pulvinar Cursus. Duis Mattis, Diam Id . Sit Amet. Donec Velit Massa Pharetra A Elementum Sed Mattis Vel Tortor. Ac Neque Ut Purus Sed Nulla Felis Pharetra. Lobortis Aliquet Tortor Suspendisse Urna Mauris Justo Volutpat Odio. Dignissim Orci Ante Mattis Scelerisque Lacus Amet.

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Hear What The Experts Have To Say
Kavya Mehra

Aditya Birla Health Insurance Customer

img Bangalore, India

FAQs on Personal Loan

A personal loan is a credit option that allows you to meet financial obligations without providing security or collateral. It comes without an end-use restriction thus it can be used for a variety of purposes making it easy to manage. 


A personal loan is versatile and can cover various expenses like home renovations, marriage, vacations, debt consolidation, medical bills, business investments, car repairs, etc.

To qualify for a personal loan, you need a consistent income, whether you're a salaried employee, self-employed, or a professional. Your eligibility depends on factors like employer, credit history, residential location, and other criteria as per the eligibility criteria mentioned.

Yes! The minimum personal amount that you can borrow is about Rs 50,000.


Yes! You can apply for a Personal Loan individually or jointly with a family member, such as your spouse or parents. Applying with a co-borrower, especially with a higher income, increases the potential for a larger Loan amount. However, if the co-applicant has a poor credit history, it could negatively impact the Loan application's success.


The essential documents typically include

  • KYC Documents 

  • Address Proof 

  • Income proof (such as salary slips for salaried individuals or recently acknowledged ITR for the self-employed).

  • Identity proof

  • Loan Statements

Yes! Along with the interest on the principal amount, there is a non-refundable processing fee of up to 1.5% to 4% of the loan amount when applying for a personal loan.

Maintaining a good credit score is vital because it increases the likelihood of securing a loan at a lower interest rate. A good credit score reflects your creditworthiness and repayment capacity. If you want to apply for a personal loan, maintain a credit score above 750. 


Yes! You can prepay or foreclose your Personal Loan once the lock-in period of 12 months is over. Remember that charges (and taxes) apply for foreclosing a Personal Loan. No partial prepayment is allowed.


Upon approval of your Personal Loan, the funds are electronically deposited directly into your savings account.


Regular automated emails are shared throughout the Loan cycle. You can also connect with the assigned relationship manager for any updates on your Loan status.


No, self-employed individuals cannot apply for a personal loan.


You can reach us through:

Helpline: 1-800-270-7000 — 8 AM to 7 PM, Monday to Sunday

Service Branches: 10:00 AM to 5:00 PM, Monday to Friday and alternative Saturdays (Branches Remains Closed On 1st & 2nd Saturday & All Sundays)

 

Yes, the typical age limit for personal loan applicants is between 21 to 60 years, but this may vary.


Personal loan interest rates are usually fixed, meaning they remain constant throughout the loan tenure.


We always strive to offer you a hassle-free experience. To help you control your loan account, we are introducing a unique and completely secure service platform called ABCL Connect. You can access your loan account by using your login credentials click here.

Features of ABCL Connect are:

  • View your loan account whenever, wherever
  • View and save your amortisation schedule for any future reference
  • Make an online request for disbursement
  • Change your ECS mandate
  • Ask for a top-up loan
  • Apply for a new loan

Missing an EMI payment can result in late fees, penalties, a negative impact on your credit score, and additional interest on overdue amounts.


 

ABCL offers:

  • Customised solutions; hassle-free financing
  • Complete transparency in charges and processes
  • Quick approvals and minimum processing and disbursement time
  • Easy online application process and instant eligibility
  • Doorstep services with simplified documentation through service RM’s
  • Choose between simple EMIs or structured repayments
  • Attractive balance transfer option available to transfer your existing loan to us without any hassles

Any unbanked/unused cheques, i.e., Post-dated Cheques/Undated Cheques/Security Post-dated cheques in the custody of ABCL or ABHFL will be cancelled and shredded/destroyed, without any intimation to the customer, after the closure of the loan account.

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.

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