Indiabulls Personal Loan Highlights | |
| Interest rate | 13.99% p.a. onwards |
| Loan Amount | Up to Rs. 15 Lakh |
| Eligible Applicant Age Category | Min. 21 years |
| Loan Tenure | Min. 3 months and Max. 36 months |
| Processing Fees | Starting at 3% of loan amount |
| Foreclosure Charge | 5% (allowed after 6 months) |
Table of Contents
Features of Indiabulls Personal Loan
- Loan amount: If you meet the eligibility criteria, you can avail a Indiabulls Dhani personal loan as high as Rs. 15 lakh
- Flexible tenure: Indiabulls personal loan can be repaid without any stress as the tenure offered is flexible and varies from 3 to 36 months
- Reasonable rate of interest rates: Personal loan interest rates from Indiabulls start at as low as 13.99% which is lower than the rates offered by many NBFCs operating in India
- Hassle- free application process: The process to apply for a personal loan at Indiabulls is simple, 100% paperless and can be completed online
- Minimum documentation: Only a few basic documents are required to get your Indiabulls personal loan application approved
- Nil prepayment charges: Indiabulls currently offers this unsecured loan with zero pre-payment charge which makes it more flexible for applicants
Indiabulls Personal Loan Interest Rate
The interest rate offered by Indiabulls on a personal loan starts from 13.99%. However, actual rates may differ from individual to individual depending on the applicant’s credit score, age, loan amount, employer, etc.
Eligibility Criteria
The following are the key eligibility criteria for availing an Indiabulls personal loan:
- You should be a citizen of India
- You should be at least 21 years old
- You should either be a salaried professional or self- employed entrepreneur
The NBFC may include additional eligibility criteria as per its internal criteria.
Documents Required for Indiabulls Personal loan Application
The following are the key documents required to apply for an Indiabulls Dhani personal loan:
- PAN card details
- Address proof (Voter ID card, Ration card, utility bills, etc.)
- Bank Account details
How to Apply for Indiabulls Personal Loan with Paisabazaar?
At Paisabazaar, you can compare and apply for personal loan just by following a few easy steps mentioned below:
- Click here to fill out your personal details like required loan amount, current city, income, employer, etc.
- Click on ‘proceed’ to get redirected to another page showing offers as per the chances of approval
- Choose the best offer as per your requirement and click on ‘apply’
- Get an e-approval from the lender and simultaneously your application will be forwarded to the lender
- Also, you will get a call from the customer care team of Paisabazaar to help guide you through the application process
Personal Loan Verification Process
The personal loan verification process involves the following steps:
- When the lender receives your online application from Paisabazaar, you get a verification call from lender’s representative
- Once verification is completed, the lender schedules document pickup from either your home or office
- After the successful verification of documentation, the loan gets approved and you get a call from the bank regarding the final loan proposal
- Once you sign the agreement, the loan gets disbursed to your account with 3 to 5 working days
Check Indiabulls Personal Loan Application Status
If you have applied for an Indiabulls Dhani personal loan through mobile app, you can view the status or progress of your loan application with the help of loan progress bar available on the app. Alternately, you can check the status of your personal loan application by sending an email to care_dhani@indiabulls.com using your registered email ID and along with your loan application details.
Fees and other Charges
Indiabulls personal loan features various fees and charges apart from interest rate. Some of the key ones are as follows:
| Processing fee | 3% onwards |
| Loan foreclosure/pre-payment charges | >6 months: 5% |
| Rate of Interest | 13.99% onwards |
| Bounce charges | Rs. 400 per bounce |
| Late Payment penalty | 3% per month |
| Stamp duty charges for loan documentation | As per applicable laws |
| Duplicate NOC | Rs. 500 per request |
| Repayment mandate/instrument swapping charges | Rs. 500 per request |
| Loan Cancellation Charges | Rs. 3000 |
| Loan Re booking charges | Rs. 1500 |
| Statement of account charges | Rs. 500 |
| Duplicate Repayment Schedule | Rs. 500 |
| Bounce Charges (For Self Employed) | Rs. 750 |
How to Login on Indiabulls Portal
To login on Indiabulls portal, you will have to download the Dhani app. Users can download the Dhani app for Android from the Google Play store. iOS users can download the same from the Apple App store.
Indiabulls Personal Loan Statement
Indiabulls personal loan statement is mailed to the borrower’s registered email ID every month. Current borrowers can also download the Dhani app to access their personal loan statement.
EMI Calculation
The following table shows the personal loan EMI calculation results for various loan amounts, interest rates and tenures.
| Loan principal @ interest | Tenure | ||||
| 1 year | 2 years | 3 years | 4 years | 5 years | |
| 4 lakh @ 13.99% | Rs. 35,912 | Rs. 19,203 | Rs. 13,669 | Rs. 10,928 | Rs. 9,305 |
| 6 lakh @ 14.5% | Rs. 54,013 | Rs. 28,949 | Rs. 20,652 | Rs. 16,546 | Rs. 14,116 |
| 9 lakh @ 15% | Rs. 81,232 | Rs. 43,637 | Rs. 31,198 | Rs. 25,047 | Rs. 21,410 |
| 10 lakh @ 15.5% | Rs. 90,494 | Rs. 48,724 | Rs. 34,910 | Rs. 28,084 | Rs. 24,053 |
Indiabulls Personal Loan Top-Up
Indiabulls offers additional funds of up to Rs. 15 lakh on your existing Indiabulls personal loan. The top-up facility offered by the NBFC is an ideal solution to all your personal needs or financial emergencies and can be availed easily without submitting any additional documents.
Indiabulls Personal Loan Top-Up Eligibility Criteria
The following are the key eligibility criteria for a personal loan from Indiabulls:
- You should have an existing Indiabulls Dhani personal loan
- You need to have made regular payments of all the personal loan dues
Comparison of Indiabulls PL vs. Other Lenders
| Particulars | Indiabulls | HDFC Bank | Citi Bank | Axis Bank | ICICI Bank | Bajaj Finserv |
| Interest Rate | Starting from 13.99% | 10.75% to 21.30% | 10.50% to 18.99% | 12% to 24% | Starting from 11.25% | Starting from 12.99% |
| Tenure | 3 to 36 months | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months |
| Loan amount | Up to Rs. 15 lakh | Up to Rs. 40 lakh | Up to Rs. 30 lakh | Rs. 50,000 to Rs. 15 lakh | Up to Rs. 20 lakh | Up to Rs. 25 lakh |
| Processing Fee | 3% onwards | Up to 2.50% of the loan amount | Up to 3% of the loan amount | Up to 2% of loan amount | Up to 2.25% of loan amount | Up to 3.99% of the loan amount |
Indiabulls Customer Care
- You can call on 0406 165 7222 (Maharashtra, Bengal and Southern states) or 0124 616 5722 (Rest Of India 8AM to 8PM)
- You can send an email on service_dhani@indiabulls.com
- You can fill a form to get a call from Indiabulls
- You can fill the feedback form
- You can visit the nearest branch of the bank
Read more about Indiabulls Personal Loan Customer Care
Benefits of Applying for Personal Loan at Paisabazaar
- Check multiple offers: You can compare offers from 30+ lenders on a single platform. This not only saves time and effort but also helps you in making the right decision conveniently and quickly
- Hassle- free process: Paisabazaar allows you to apply for a personal loan from the comfort of your home or office. This eliminates the need to visit the bank
- Check your EMI: The personal loan EMI calculator available on Paisabazaar website allows you check EMIs for a specific loan amount even before you have applied for it. Additionally, you can try different combinations of loan amount, tenure and interest rate to know the due EMIs ahead of time and figure out a combination that suits your repayment ability
- Get immediate e-approval: Get instant conditional e-approval from the lender when you apply online through the Paisabazaar website
Important Aspects
- Check credit score: It is necessary to have a good credit score before you apply for a personal loan because credit score is a reflection of your past repayments and a good credit score signifies that you have been disciplined with handling credit in the past. Hence, lenders won’t hesitate in offering you a loan
- Check eligibility criteria: Ensure that you meet the eligibility criteria of the lender for which you wish to apply for a personal loan
- Do not submit multiple loan applications together: Applying with various lenders at a time can lead to multiple hard inquiries in your credit report and such hard inquiries
- Maintain low credit utilization ratio: Your credit utilisation ratio should be less than 30% to have a healthy chance of approval of your personal loan application
FAQs
Q1. What do I need to apply for an Indiabulls personal loan?
You will need PAN Card, Address Proof and Bank Account along with Internet Banking credentials to apply for a Indiabulls Dhani personal loan.
Q2. How do I check the status of my personal loan application?
If you have applied for an Indiabulls personal loan through the mobile application, you can easily view the progress of your loan application in the loan progress bar. If you have applied for a personal loan offline, you can check the loan status by sending an email on care_dhani@indiabulls.com
Q3. What type of interest rate is offered on Indiabulls personal loan?
Fixed rate of interest is offered on Indiabulls personal loan.
Q4. When is my next due date? How do I view the EMI status?
All the information including your complete loan details, EMI status, due date, etc. can be seen after you login you your account through the mobile app or website.
Q5. Is it possible to change my EMI due date?
According to the Indiabulls Consumer Finance Limited policy, EMI due date cannot be changed post disbursement of the loan amount.
Q6. How do I pay the EMI?
The EMI can be paid through NACH.
Q7. What will be my instalment cycle date?
Indiabulls currently offers 2 due dates and they are 2nd and 5th of every month.
Q8. Is it possible to make part-payment before the 1st EMI?
No, as per the Indiabulls Consumer Finance Limited policy, you cannot make part- payment before the 1st EMI.
Q9. Can I apply for Indiabulls personal loan with a co- applicant?
According to the Indiabulls Consumer Finance Limited policy, you cannot have a co- applicant for a personal loan.
Q10. From where can I get my re-payment schedule/statement of accounts/interest certificates/no objection certificate?
All the important documents are emailed on your registered email address. Also, you can also contact customer care for any assistance.
Q11. How should I make the overdue payment?
You can make loan EMI overdue payments through NEFT/RTGS using your registered bank accounts.
