Aditya Birla Personal Loan Highlights
|Interest rate||Min. APR- 13% p.a.
Max. APR- 28% p.a.
|Loan Amount||Up to Rs 50 lakh|
|Tenure||Up to 7 years|
|Processing Fees||Up to 3% of the loan amount|
Note: Rates as of 7th December 2023
Aditya Birla Personal Loan Interest Rates
|Type||Interest Rate (p.a.)|
Comparison of Personal Loan Interest Rates of Top Lenders
|Axis Bank||10.49% onwards||Apply Now|
|IndusInd Bank||10.49% onwards||Apply Now|
|IDFC First Bank||10.75% onwards||Apply Now|
|HDFC Bank||10.50% onwards||Apply Now|
|ICICI Bank||10.65% onwards||Apply Now|
|Kotak Mahindra Bank||10.99% onwards||Apply Now|
|Tata Capital||10.99% onwards||Apply Now|
|Bajaj Finserv||11.00% onwards||Apply Now|
|Federal Bank||11.49% onwards||Apply Now|
|DMI Finance||12.00% - 40.00%||Apply Now|
|L&T Finance||12.00% onwards||Apply Now|
|Kreditbee||12.25% - 30.00%||Apply Now|
|MoneyTap||13.00% onwards||Apply Now|
|Piramal Finance||12.99% onwards||Apply Now|
|Aditya Birla||13.00% onwards||Apply Now|
|Moneyview||15.96% onwards||Apply Now|
|Cashe||27.00% onwards||Apply Now|
Also check which bank/NBFC is best for personal loans
Types of Aditya Birla Capital Personal Finance
Aditya Birla Personal Loan
Purpose: Aditya Birla Finance offers personal loans to salaried individuals to finance their personal requirements, such as purchase of household or electronic goods, education, wedding expenses, medical emergencies, home improvement and travel.
Loan Amount: Up to Rs 50 lakh
Tenure: Up to 7 years
Aditya Birla Flexi Personal Loan
Purpose: Aditya Birla Flexi Personal Loan is a Personal Loan Overdraft facility wherein the applicants can withdraw money from the loan account within the pre-determined limit based on their credit profile. The applicant can then make repayment as per the availability of cash flow.
Tenure: Up to 7 years
Aditya Birla Personal Loan Fees and Charges
|Processing Fee||Up to 3% of the loan amount|
|Pre-closure Charges||Rs 1,000 + GST|
|Cheque Return Charges||Rs 500 + GST|
|CIBIL Report Retrieval Charges||Rs 100 + GST|
|Stamp Duty||As per actuals|
|Loan Cancellation Charges||4% of loan amount + GST|
|Default penal charges||3% of pending amount per month|
|Insurance premium||As per actuals|
|CIBIL report retrieval charges||Rs 100 + GST|
|Part Pre-payment Charges||For Term Loan Facility:
For Flexi Personal Loan:
|Foreclosure Charges||For Term Loan: 4% of the principal outstanding + GST
For Flexi Personal Loan: 4% of the withdrawn amount + GST
Foreclosure is allowed only 12 months after the loan disbursalAlso know the processing fee for personal loan
Eligibility Criteria for Aditya Birla Personal Loan
- Age: 23-60 years
- The loan applicant should be salaried individual
Aditya Birla may also consider an applicant’s monthly income, credit score and employer’s profile, just like other banks and NBFCs do while setting the personal loan eligibility criteria for their applicants.
Have ‘no’ or ‘low’ credit score? Use Step UP Credit Card Co-branded with SBM Bank India Ltd. to build/improve your credit score.
Get lifetime free Step Up Credit Card and improve/build your credit score Know More
Documents Required for Aditya Birla Personal Loan
- Completely filled application form with photographs of the applicants attached
- KYC documents such as ID proof, address proof, signature proof, proof of office, and qualification proof
- Non-refundable fee cheque
- Details of limits and loans availed
- Copy of PAN card
- Repayment track record
- Bank verification form
- Latest loan outstanding statement for refinance cases
Additional Documents for Salaried
- Last 3 months salary slips or Salary certificate
- Last 6 months bank statement where salary is credited directly
- Latest Form 16
Additional Documents for Self-employed/Professional/Partnership/Company
- Financial documents for 2 years
- Partnership Deed/MOA/AOA
- ITR along with income computation, Balance Sheet, P&L, Schedules
- Tax Audit Report
- List of Directors/Shareholders attested by CAs/CS
- VAT/Sales Tax returns for current financial year
- Last 12 months bank statement (both business and savings)
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Can I choose between a fixed and floating rate of interest while applying for Aditya Birla Capital Personal Loan?
Ans. Aditya Birla Finance offers personal loans only at fixed rate of interest.
Do the applicants need any security or collateral while applying for Aditya Birla Personal Loan?
Ans. Personal loan applicants do not need to submit any security or collateral while applying for personal loan with Aditya Birla capital.
Can the applicants club the income of the co-applicant to enhance the personal loan eligibility?
Ans.Yes, Aditya Birla Capital allows the applicants to club the income of the co-applicant while applying for personal loan.
Can self-employed individuals avail personal loan from Aditya Birla Finance?
Ans. Aditya Birla Capital offers personal loan to salaried individuals only.
At what minimum credit score can I avail Aditya Birla Personal Loan?
Ans. Aditya Birla Finance has not explicitly stated the cut-off credit score for personal loan applicants. However, the applicants having scores of 750 and above usually have higher chances of availing personal loans at lower interest rates.