Aditya Birla Capital offers personal loans of up to Rs. 50 lakh to salaried individuals with repayment tenure of up to 60 months. You can use an unsecured Aditya Birla Capital personal loan for a variety of purposes, such as meeting expenses related to travel, purchase of electronics or household goods, children’s education, wedding, home improvement and even medical emergencies. The following are key details about personal loans offered by Aditya Birla Capital.
Features of Aditya Birla Capital Personal Loan
- Loan Quantum: Personal loans offered by Aditya Birla Capital vary from as low as Rs 1 lakh to as high as Rs. 50 lakh
- Repayment Tenure: You can repay these personal loans with a period extending up to 60 months (5 years)
- Interest Rate: The interest rate on Aditya Birla personal loan is fixed based on the individual applicant’s profile and communicated in the personal loan application form
- Security: You don’t need any collateral or security to avail personal loan from Aditya Birla Capital
- Co-applicant: The NBFC allows you to take on a co-applicant for the loan in order to enhance your eligibility
- Repayment Options: You can repay the personal loan EMIs via ECS (Electronic Clearing Service) or NACH (National Automated Clearing House)
- Nil Foreclosure Charges: You are allowed to foreclose the personal loan (i.e. pay off the loan before scheduled tenure completion) at NIL charges following completion of 6 EMI payments
Aditya Birla Capital Personal Loan Interest Rate
The interest rate on personal loan offered by Aditya Birla Capital varies based on individual applicant to applicant. The interest rate is communicated in the loan agreement and is linked to the Short Term Reference Rate (STRR) or Long Term Reference Rate (LTRR) depending on the tenure of the loan.
Eligibility Criteria for Aditya Birla Capital Personal Loan
Aditya Birla Capital offers personal loans to salaried individuals falling in the age group of 23 to 60 years. Other key personal loan eligibility criteria for this NBFC include:
- Net take home monthly salary
- Credit score
- Existing monthly debt repayment obligations
Do keep in mind that Aditya Birla Capital allows you to club the income of the co-applicant to enhance your eligibility for persona loans.
Documents Required for Personal Loan Application
Following is the list of the major documents required to avail a personal loan from Aditya Birla Capital:
- Duly filled out and signed application form for Aditya Birla Personal Loan with cross signed photographs;
- Last 3 months’ salary slips from the date of loan application or salary certificate;
- Latest Form 16;
- Last 3 months’ bank account statement, where salary is directly credited;
- KYC documents which include proof of identity/ signature/ residence, such as Aadhaar Card, PAN Card, Driving License, Passport, etc.
How to Apply for Aditya Birla Capital Personal Loan on Paisabazaar?
Follow the steps mentioned below to apply for a personal loan from Aditya Birla Capital:
Step 1: Navigate to the top of this page and fill out the personal loan application form.
Step 2: Enter the details of your company and work experience. Subsequently, a list of personal loan offers will be displayed. Please note that the loan offers will be listed as per the chances of approval calculated using the SmartMatch algorithm.
Step 3: Select the most appropriate loan offer from the list or contact Paisabazaar customer care for assistance.
Step 4: Get instant conditional e-approval for your personal loan from the lender. Finally, our customer team will guide you through the loan processing and disbursal process.
Personal Loan Verification Process
Personal loan verification is generally completed in the following steps:
- You completely fill out the personal loan application form and submit it to the lender.
- The lender contacts and sends a representative to collect the required documents.
- The submitted documents are verified by the lender.
- The personal loan gets approved upon successful verification of documents.
- Finally, the lender disburses the loan amount to your account after you sign the loan agreement.
Check Aditya Birla Capital Personal Loan Application Status
Step 1: Visit the Aditya Birla Capital personal loan application page and enter your application number and PAN details:
Step 2: Once you have entered the details, click “Submit” to check the status of your personal loan application instantly.
Fees and Other Charges for Aditya Birla Personal Loan
The following are the fees and key charges (except interest) associated with personal loans offered by Aditya Birla Capital:
|Processing/ Administration Fee||Up to 2% of the loan amount sanctioned|
|Pre-closure Charges (after 6 EMI payments)|
|Default Penal Interest Rate / Non Conformance with any covenants / stipulated conditions||24% per annum|
|Cheque Return Charges / ECS (Electronic Clearing System) failure charges||Rs. 750 per instance|
|Duplicate Statement / Repayment Schedule / any other document||Rs. 200 per instance|
|Charge For Exchanging PDCs (post-dated cheques) / ECS||Rs. 750 per instance|
|CIBIL report retrieval fee||Rs. 50 per instance|
|NOC (No Objection Certificate) issuance charges||Rs. 500|
|Stamp Duty||As per actuals.|
*Additional taxes may apply at applicable rates.
How to Login on Aditya Birla Capital Portal?
Step 1: Visit the Aditya Birla Capital Home Page and click on “Log in”.
Step 2: On the subsequent page enter your username and password and click “LOGIN”. Alternatively, you can login through OTP received on your registered mobile number.
Aditya Birla Capital Personal Loan Statement
Visit the Aditya Birla Capital personal finance portal and enter your PAN number and date of birth to check the personal loan account statement.
Alternately, you can also visit your nearby Aditya Birla Capital Office/representative to request a copy of your personal loan statement.
The following table provides a snapshot of EMI amounts that may be payable by you for different personal loan amounts, interest rates and tenures:
|Loan Amount (Rs.) and Interest Rate|
Monthly EMI Payout (Rs.)
|1-year loan tenure||2-year loan tenure||3-year loan tenure||4-year loan tenure||5-year loan tenure|
|4 lakh @ 14% p.a.||35,914||19,205||13,671||10,930||9,307|
|8 lakh @ 17% p.a.||72,963||39,553||28,522||23,084||19,882|
|10 lakh @ 15% p.a.||90,258||48,486||34,665||27,830||23,789|
Comparison of Aditya Birla Capital Personal Loan v/s Other Lenders
The following table compares the personal loan offered by Aditya Birla Capital vs. that of other top lenders in India:
|Aditya Birla Capital||Bajaj Finserv||Axis Bank||HDFC Bank||Citibank|
|Interest Rate||As per applicant profile||12.99% onwards||12-24%||10.75-21.30%||10.50% onwards|
|12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Rs. 1 lakh to 50 lakh||Up to Rs. 25 lakh||Rs. 50,000 to Rs. 15 lakh||Up to Rs. 40 lakh||Up to Rs. 30 lakh|
|Processing Fee||Up to 2% of the loan amount + GST||Up to 4.13% of the loan amount (including taxes)||Up to 2% of the loan amount plus GST||Up to 2.50% of the loan amount||Up to 3% of the loan amount|
Aditya Birla Capital Customer Care
- Toll free helpline number of this lender is – 1800-270-7000. Please note that this number is operational between 9 AM to 9 PM from Monday to Sunday, except on Public Holidays
- E-mail ID: firstname.lastname@example.org
- Visit the nearest Aditya Birla Capital branch office. Location and other details of the same will be available on the lender’s website
Benefits of Applying for a Personal Loan on Paisabazaar.com
- View Multiple Loan Offers on a Single Platform: You can check personal loan offers from 30+ lenders without visiting the websites of individual banks and NBFCs.
- Know Eligible Loan Amount: You can know the personal loan amount you are eligible for even before applying for the loan.
- Check the Chances of Loan Approval: The Paisabazaar platform uses an algorithm called SmartMatch, which displays the chances of getting the loan approved on the basis of your profile.
- EMI Calculator: You can calculate your monthly payout with the help of Paisabazaar personal loan EMI calculator.
- Information Privacy: Paisabazaar is ISO 27001-2013 certified, hence the data provided by you as part of the application process remains completely safe and private.
Important Aspects to be Considered While Applying for a Personal Loan
Following are some of the important aspects that should be kept in mind while applying for Aditya Birla Capital personal loan:
- Carefully check the eligibility criteria and make sure you meet them before applying for the loan.
- Ensure that you have all the required documents to avail the loan.
- Maintain a good credit score, which is a 3-digit summary of your credit report and serves as a measure of your repayment ability.
- Avoid multiple loan applications, as it can lead to multiple hard enquiries of your credit report.
- Try to maintain a low credit utilization ratio, ideally less than 30%. ‘
Frequently Asked Questions (FAQs)
Q1. What is the turn-around-time for Aditya Birla Capital personal loan?
Ans. Generally, Aditya Birla Capital takes 2-3 working days for processing a personal loan application counted from the date of receipt of documents.
Q2. What are the minimum and maximum personal loan amounts offered by Aditya Birla Capital?
Ans. The minimum and maximum personal loan amounts offered by Aditya Birla Capital are Rs. 1 lakh and Rs. 50 lakh, respectively.
Q3. Can I foreclose my personal loan taken from Aditya Birla Capital?
Ans. Yes, you can foreclose the personal loan taken from Aditya Birla Capital after completing loan tenure of 6 months. Currently the NBFC offers Nil foreclosure charge benefit to borrowers.
Q4. How is the interest calculated on Aditya Birla Capital personal loan?
Ans. The interest for Aditya Birla personal loan is calculated using the monthly reducing balance method.
Q5. Is part prepayment allowed on Aditya Birla personal loan?
Ans. Yes, part prepayment is allowed on Aditya Birla personal loan with the minimum part prepayment amount being equivalent to 3 EMIs.
Q6. What is the interest rate for Aditya Birla Capital personal loan?
Ans. The interest rate for Aditya Birla Capital personal loan varies from applicant to applicant and is linked to the NBFC’s Short Term Reference Rate (STRR) or Long Term Reference Rate (LTRR) depending on the personal loan tenure opted for.
Q7. Who can apply for Aditya Birla personal loan?
Ans. Only salaried individuals can apply for Aditya Birla personal loan, provided they meet the applicable eligibility criteria.
Q8. What is the Aditya Birla Capital customer care number?
Ans. The customer care number for Aditya Birla Capital is 1800-270-7000 (toll-free).
Q9. What is the repayment tenure for Aditya Birla personal loan?
Ans. The personal loan offered by Aditya Birla Capital comes with a flexible tenure that varies from 12 months to 60 months.
Q10. How much does Aditya Birla Capital charge as processing fees on personal loan?
Ans. Aditya Birla Capital charges up to 2% of the loan amount as personal loan processing fees.