Personal Loan

With Aditya Birla Capital Limited, getting a personal loan is a seamless process. All you have to do is fill in the online application form, provide basic documentation, and get loan disbursement in no time after you meet the eligibility criteria. You can use the loan amount for any purpose, such as medical emergencies, purchase of household or electronic goods, children’s education, wedding expenses, home improvement, or travelling.

Applicants for Personal Loans must generally be salaried individuals who can verify their personal and professional details. Including, but not limited to:

• KYC Documents (proof of the applicant's age, nationality, etc.)
• Last three months' salary slips from the date of application
• Last three months bank statement
• A duly filled loan application form

Aditya Birla Capital Limited (ABCL) offers personal loans of up to Rs. 40 lakhs, but the highest loan amount that you can get will depend on your individual circumstances, including your income, debt-to-income ratio, credit score, and employment status.

You can apply for our personal loans through diverse options:

• Download the personal loan application form from our website
• Submit the duly filled form to your nearest branch
• Pay personal loan processing fee
• Get personal loan approval

Personal loan can be used for various purposes:

• Personal Loan for Wedding
• Personal Loan for Travel
• Personal Loan for Medical Emergencies
• Personal loan for Debt Consolidation
• Personal loan for Higher Education
• Personal loan for Renovating Home

7 years is the maximum tenure for repayment of personal loan.

ABCL personal loan application procedure is simple. Given below is a guide to personal loan application process:

• Step 1: Personal Loan Application
• Step 2: Submit Necessary Documentation
• Step 3: Verification Process
• Step 4: Credit Score Verification
• Step 5: Address Verification
• Step 6: Payment of Processing Fees
• Step 7: The ABCL will offer the Personal Loan Amount, Interest rate and Tenure.

There is no minimum salary required to get a personal loan.

No, you don't need to provide security or collateral while applying for a personal loan. These loans are unsecured, meaning they rely on your creditworthiness rather than collateral. Loan approval from financial institutions depends on factors like credit history, income, and debt-to-income ratio, rather than assets.

Additional read: Step-by step guide for Applying Personal Loan Online

Personal loan interest rate is influenced by various factors. Your CIBIL score, which reflects your creditworthiness, plays a significant role. A higher score can lead to lower interest rates. Repayment history, indicating your reliability in clearing past debts, also impacts rates. Additionally, the principal amount and loan tenure affect the interest rate, with larger loans or longer terms often attracting higher interest rates

The processing time for a personal loan at Aditya Birla Capital Limited is swift. Once you meet the eligibility criteria, the loan is disbursed promptly, ensuring a quick and efficient process.

The interest rate for a personal loan from Aditya Birla Capital Limited ranges between 10% and 28%. This rate may vary based on individual credit profiles and other eligibility factors.

Read more about- Interest Rate on a Personal Loan in India

Yes, you can foreclose your personal loan. This option allows you to pay off the entire remaining balance before the end of the loan term, potentially saving on future interest payments. However, it's important to check for any foreclosure charges or terms specific to your loan agreement.

To apply for a personal loan at Aditya Birla Capital Limited, you have several convenient options:

• Online: You can easily apply for an instant personal loan by visiting the official website.
• Phone: Contact the toll-free number 1800 270 7000 for assistance.
• Email: Send your inquiries or application to care.finance@adityabirlacapital.com.

The eligibility criteria for a personal loan include:

• Age: Usually between 21 and 60 years.
• Employment: Steady income, often with a minimum salary requirement, from either salaried or self-employed individuals.
• Credit Score: A good credit score (often above 750) indicating creditworthiness.
• Financial History: Stable and reliable financial history, including repayment track record.
• Nationality: Resident of the country where the loan is sought.
• Documentation: Valid identification, income proof, and other relevant documents.