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Disclaimer: Unity Small Finance Bank is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Unity Small Finance Bank for personal loans. No offers/services from Unity Small Finance Bank are being provided by Paisabazaar for personal loans. For further information about Unity Small Finance Bank for personal loans, users are required to reach out directly to Unity Small Finance Bank.
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Unity Small Finance Bank Personal Loan Highlights |
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| Interest rate | Min. APR- 16.00% p.a. Max. APR- 30.00% p.a.Digital Personal Loan – 12%-38% p.a. |
| Loan amount | Up to Rs 10 lakhs |
| Repayment Tenure | 6 months to 3 years |
| Processing Fee | Up to 5% of the loan amount |
Note: Updated as of 14 October 2024
Unity Small Finance Bank Personal Loan Interest Rate
Personal Loan
Unity Small Finance Bank has not disclosed the personal loan interest rates. However, the small finance bank has specified the Annual Percentage Rate (APR) starting @ 16% p.a. The APR of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the documentation fees, processing fees and other fees charged during the loan origination.
| Type | Interest Rate (p.a.) |
| Minimum APR | 16.00% |
| Maximum APR | 30.00% |
Digital Personal Loan
Unity Small Finance Bank offers Digital Personal loans at an interest rate ranging from 12% to 38% p.a.
Here is the list of personal loan interest rates offered by top banks & NBFCs.
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 11.25% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.99% onwards | Apply Now |
| HDFC Bank | 10.75% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
| Federal Bank | 12.00% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 16.00% - 29.95% | Apply Now |
| MoneyTap | 13.00% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 10.99% onwards | Apply Now |
| Moneyview | 15.96% onwards | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Fees and Charges of Unity Bank Personal Loan
Foreclosure Charges
| Months on Board (MOB) | Charges plus GST |
| After 12 months post the lock-in period | 3% of the principal outstanding |
| Within the first 12 months post the lock-in period | 5% of the principal outstanding |
Partial Preclosure Charges
| Particulars | Charges plus GST |
| Partial Preclosure Charges | 5% of the principal being repaid + GST Or as rolled out by the Bank and intimated to the customer |
Other Fees & Charges
| Particulars | Charges |
| Processing Fees | Up to 3% of the loan amount |
| Cheque Bounce Charges | Rs 100 |
| Stamp Duty Charges | Payable as per actuals by the customer |
| Cheque Swap Charges | Rs 1,500 |
| Penal Charges | 36% p.a. on the overdue amount for the default period |
| Loan reschedule charges in terms of EMI/Tenure/ROI | Rs. 2,000 (can be changed at the sole discretion of the Bank) |
| Insurance (Credit Shield) | If opted by the borrower voluntarily, As per the guidelines of the Insurer |
| Amortization schedule statement/ Statement of Accounts/Duplicate No-Dues/Foreclosure statement charges/NOC charges | One request per year is free Rs 100 for every additional request + GST |
| Loan cancellation/fees | Nil; the cancellation is allowed only within the cooling off period (Only applicable interest and upfront fees to be retained) |
| Recovery/collection charges | Rs 300 per visit + GST |
| E-Mandate Failure Charges | Rs 500 + GST |
Digital Personal Loan Fees & Charges
| Particulars | Charges |
| Processing Fees | Up to 5% of the loan amount |
| Bounce Charges | Up to Rs 500 |
| Stamp Duty Charges | Payable as per actuals by the applicant |
| Penal Charges | 36% p.a. on the overdue amount for the default period |
| Foreclosure charges | Up to 3% + GST |
| Insurance (Credit Shield) | If opted by the borrower voluntarily, As per the guidelines of the Insurer |
Types of Unity Bank Personal Loan
Personal Loan
- Purpose: Prospective personal loan borrowers can avail Unity Bank Personal Loan for any purpose such as marriage, office renovation, or medical emergencies, other than speculative purposes.
- Loan amount: Up to Rs 5 lakh
- Tenure: 6 months to 3 years
Digital Personal Loan
- Purpose: Unity Small Finance Bank provides unsecured digital personal loan digitally through the ‘Digital Personal Loan’ product, offering equated daily, weekly, and monthly installments.
- Loan amount: Rs 1 lakhs to Rs 10 lakhs
- Tenure: Up to 3 years
Eligibility Criteria for Unity Bank Personal Loan
Unity Small Finance Bank considers the credit score, age and monthly income of its applicants while evaluating their personal loan eligibility
- Age: 23-55 years
- Minimum Monthly Income: Rs 20,000 per month (Rs 2.40 akhs annually)
- CIBIL Score: 675 or higher
Unity Small Finance Bank Personal Loan Documents Required
Stated below are the personal loan documents required for availing a personal loan from Unity Small Finance Bank.
- Aadhaar Card
- PAN Card
- Bank Statement Details of last 6 months