|Bandhan Bank Personal Loan Highlights|
|Interest Rate||11.55% p.a. onwards|
|Loan Amount||Rs 50,000 – Rs 25 lakh|
|Loan Tenure||1-5 years|
|Processing Fees||Up to 3% of the loan amount|
Note: Rates as of 5 June 2023
Table of Contents
Bandhan Bank Personal Loan Interest Rates
Bandhan Bank offers personal loans starting @ 11.55% p.a. The final interest rates offered to the applicants depend upon age, monthly income, job profile, employer’s income, credit score, loan repayment history, etc. Applicants planning to avail personal loan can use Bandhan Bank Personal Loan EMI calculator to find out the optimum loan tenure based on the repayment capacity.
Comparison of Interest Rates between Bandhan Bank vs other Banks/NBFCs
|HDFC Bank||10.50% onwards||Apply Now|
|ICICI Bank||10.50% onwards||Apply Now|
|Axis Bank||10.49% onwards||Apply Now|
|Kotak Mahindra Bank||10.99% onwards||Apply Now|
|IndusInd Bank||10.49% onwards||Apply Now|
|IDFC First Bank||10.49% onwards||Apply Now|
|Bajaj Finserv||11.00% onwards||Apply Now|
|Tata Capital||10.99% onwards||Apply Now|
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Bandhan Bank Personal Loan Fees & Charges
|Loan Processing Charges||Up to 3% of the loan amount|
|Cheque Bouncing or Failed SI Charges||Rs 500|
|Late Payment/Overdue Charges||2% per month on EMI outstanding|
|Part Payment||Allowed up to 25% of the principal outstanding, only once a year and twice during the repayment period (applicable only after first 12 EMIs are paid)|
|Fore closure statement||Rs 100|
|Foreclosure charges on Fixed rate||For the first 12 months – 4% of the principal outstanding|
|After 12 months of repayment – 2.5% of the principal outstanding|
|After 12 EMIs are paid, no foreclosure charges are applicable for loans of Rs 10 lakhs and above, provided the borrower forecloses the loan with their own sources|
|Document Retrieval charges||Rs 500|
|Duplicate Statement of Account||Rs 100|
|Duplicate NOC||Rs 300|
|Stamp duties||Actual as per state law|
Note: The above-mentioned charges attract applicable taxes which are collected from the borrower
Bandhan Bank Personal Loan EMI Calculation
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
Eligibility Criteria for Bandhan Bank Personal Loan
- The personal loan is applicable to all Salaried/Self-employed Professionals/Self-employed
- Minimum Age: Salaried individuals – 21 years; Self-employed – 23 years
- Maximum Age at time of loan maturity – 60 years
- At least 1 customer initiated transaction is required on a monthly basis in the main account
Documents Required for Bandhan Bank Personal Loan
The following documents are required for all individuals applying for a personal loan from Bandhan Bank:
- Identity and address proof
- PAN card
- Voter ID card
- Driving license
- Aadhaar card
- One recent photograph
- Last 3 months’ salary slip and Form-16 for 1 year for salaried* individuals
- Income Tax Return (ITR) for last 2 years with income computation, balance sheet and P & L a/c for self-employed* individuals
* Not applicable for online application basis pre-qualified offer
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1. What is the minimum and maximum loan amount that I can avail on a personal loan from Bandhan Bank?
Ans. Bandhan Bank offers personal loans ranging between Rs. 50,000 to Rs. 25 lakh to meet various personal financial needs.
2. What are the tenure options available on Bandhan Bank Personal Loan?
Ans. Bandhan Bank personal loans come with a repayment tenure ranging between 1 year to 5 years, which borrowers can choose at their own convenience.
3. I am expecting to receive PF from my last employer. Does the bank permit prepayment of the loan?
Ans. Yes, the bank allows the customer to opt for prepayment but only after the repayment of the first 12 months of EMI
4. I am looking for a personal loan to support my son’s higher education. Time is a challenge. How soon, the personal loan can be availed?
Ans. Bandhan Bank claims to provide the loan in account in 2 working days, provided the applicant has provided all the required information and documents.
5. My company doesn’t provide salary slips, I get a salary in the form of Cheque. Can I seek a personal loan?
Ans. Yes, against the salary slip, you can provide the bank statement for the last three months. For any query, connect with the bank.
6. Do I need to provide collateral or security to avail of a personal loan from Bandhan Bank?
Ans. No collateral or security is required to avail of a personal loan from Bandhan Bank.
7. What are different means through which I can pay my Bandhan Bank personal loan EMIs?
Ans. You can make EMI payments using post-dated cheques, standing instructions or by using the ECS facility.