ESAF Bank offers accessible and affordable personal loans to salaried, self-employed and senior citizens earning pension credits. ESAF Bank personal loans offers financial assistance for medical emergencies, home renovation, wedding, debt consolidation and more within just 2 days.
ESAF personal loans offer flexible loan amounts, attractive interest rates and a long repayment tenure to make loan repayments affordable for all. With minimum documentation requirements and quick processing of loan applications, getting a loan from ESAF is convenient and reliable.
Apply for an ESAF personal loan of ₹50,000 to ₹5 lakhs and get it approved within 2 days if you provide all the necessary documents. Get the funds you need at attractive interest rates and flexible repayment tenures of 12 - 35 months.
Table of Contents:
- ⇾ HESAF Personal Loan Details
- ⇾ ESAF Personal Loan Interest Rate and Charges
- ⇾ Eligibility Criteria for ESAF Personal Loan
- ⇾ Documents Required for ESAF Personal Loan
- ⇾ ESAF Bank Personal Loan EMI Calculator
- ⇾ ESAF Bank Personal Loan Features & Benefits
- ⇾ Steps to Apply for ESAF Bank Personal Loan
- ⇾ Steps to Apply for Personal Loan Through Buddy Loan
- ⇾ Frequently Asked Questions
ESAF Personal Loan Details
Personal loans offered by ESAF are inclusive and affordable. The table below gives you an overview of what an ESAF personal loan offers:
| Loan Amount | ₹50,000 - ₹5 lakhs |
| Loan Tenure | 12 - 35 months |
| Interest Rate | MCLR starting from 14.81% onwards. RRLR starting from 6.50% + Spread onwards. |
| Minimum Monthly Pension | ₹20,000 |
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ESAF Personal Loan Interest Rates & Charges
ESAF bank personal loans offer attractive interest rates based on the MCLR (Marginal Cost Based Lending Rate) and RRLR (Repo Rate Based Lending Rate).Here are the interest rates and charges of an ESAF personal loan:
| MCLR rate | 14.81% onwards |
| RRLR rate | 6.50% + Spread onwards |
| Processing Fee | 1.00% |
| Prepayment Charge | Nil |
| Stamp Duty and other Statutory | As per the respective State’s stamp Act |
| NACH/Cheque return charge | ₹500 + GST |
| Overdue Interest | 30% p.a. |
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Note: The above-mentioned rates are subject to change with the finance market and differ marginally with respect to the individual banks.Types of Loans Offered by EASF Bank
Check different types of loans and their interest rates offered by ESAF bank personal loan:
| ESAF Bank Loans | ESAF Loan Interest Rates (p.a.) |
|---|---|
| Personal Loan | 12.19% to 20.00% |
| Salary Overdraft | 11% to 16% |
| Two-Wheeler Loan | 14.51% to 26% |
| New Car Loan | 10.56% to 17.5% |
| Used Car Loan | 11.75% to 19.33% |
| Three-Wheeler Loan | 18.30% to 29.41% |
| New Light Commercial Vehicle Loan | 11.91% to 19.58% |
| Micro Housing Loan | 10.56% to 17.5% |
| Home Loan | 7.77% to 13.2% |
| Loan Against Property | 11.38% to 20% |
| School Loan | 11.64% to 19.16% |
| Global Career Development Loan | 11.64% to 19.16% |
| Lease Rental Discounting Loan | 10.56% to 17.50% |
| Clean Energy Product Loan | 14.08 to 22.91% |
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Eligibility Criteria for ESAF Personal Loan
To apply for an ESAF personal loan, you will need to meet certain eligibility criteria, these are:
- You should be an employee working in Nifty Top 100 Companies, Navaratnas, Government, PSUs.
- Employees working in Private and Nationalised Banks.
- Employees working in State/District Level Cooperatives, Public Limited Companies, Hospitals, Educational Institutions.
- Pensioners receiving a regular pension ( with a monthly minimum pension of ₹20,000).
Documents Required for ESAF Personal Loan
To get an ESAF personal loan, you will be required to submit certain documents. These documents will help the bank verify your identity and repayment capacity based on your financial records. The documents required are:
- Identity Proof: Aadhaar card, PAN card, Voter ID, Driver’s Licence, etc.
- Address Proof: Utility bills, Passport, Voter ID, Aadhaar, Rental Agreement etc.
- Financial Proof for salaried: 3 months salaried slips, 6 months bank account statement.
- Financial Proof for pensioners: Pension Book, Pension ID, 6 months bank account statement.
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ESAF Bank Personal Loan EMI Calculator
The ESAF bank personal loan EMI calculator can help you understand how much you need to repay every month, helping you budget your finances effectively. By entering the loan amount, interest rate and tenure, you can get a transparent picture of your potential EMI amount aiding you in making informed decisions before you take a personal loan.
The personal loan EMI calculator also helps you determine the affordability of the loan and your repayment capacity. It also allows you to compare different loan amounts and tenure, helping you assess which loan terms best suit your needs and financial goals.
To use the calculator below, enter your loan amount, interest rate and months to pay in the given boxes and you will be able to view your monthly EMI, total interest and the total cost of the loan.
| Monthly EMI | ₹86 |
| Principal Amount | ₹1,000 |
| Total Interest | ₹32 |
| Total Amount | ₹1,032.00 |
ESAF Bank Personal Loan Features & Benefits
ESAF bank personal loan offers you various features and benefits, including:
- Flexible Loan Amounts: Choose between flexible loan amounts of ₹50,000 to ₹5 lakhs allowing you to borrow as per your financial needs.
- Competitive Interest Rates: Enjoy competitive interest rates on your ESAF personal loans beginning from 14.81% for MCLR and 6.50% + Spread for RRLR.
- Quick and Easy Approval Process: ESAF Bank ensures a swift and hassle-free loan approval process. You can get your loan approved within 2 days if you provide all the necessary documents.
- Flexible Repayment Tenure: The bank offers a comfortable repayment tenures ranging from 12 months to 35 months, giving you the convenience to choose a tenure that suits your repayment capability.
- Minimal Documentation: To apply for an ESAF personal loan, you will require basic documents for identity proof, address proof, income proof, and bank statements for both salaried and pensioners.
- Transparent Costs: The bank ensures transparency in its loan processing and fees applied to the loan as the terms and conditions, including interest rates, fees, and charges, are clearly provided to you.
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Steps to Apply for ESAF Bank Personal Loan
ESAF bank offers you two ways to apply for a personal loan, i.e, online and offline. Given below are the steps you can follow to apply for an ESAF personal loan:
Online Application:
- Step 1: Visit the official website of ESAF Small Finance Bank -
https://www.esafbank.com/loan-apply-online/ - Step 2: Provide all your personal information and necessary details including loan amount and purpose of taking the loan.
- Step 3: Tick the declaration button and then click Submit.
- Step 4: Once you are declared eligible for the loan, you will be able to submit your documents and complete the application.
Offline Application:
- Step 1: Visit the bank branch.
- Step 2: Fill up the application form.
- Step 3: Submit all the required documents to begin the approval process.
Steps to Apply for a Personal Loan with Buddy Loan
You can now easily apply for an ESAF personal loan through Buddy Loan by following the simple steps given below:
- Step 1: Visit buddyloan.com or download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address, DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Want to know more? You can check more on different loan types available by various lenders from the table below:
Frequently Asked Questions
The eligibility includes employees in Nifty Top 100 Companies, government, PSUs, banks, public companies, hospitals, educational institutions, and pensioners with a minimum monthly pension of ₹20k.
You can easily apply for an ESAF personal loan online through the website or by visiting the bank branch.
The documents required for ESAF personal loan are identity and address proof, bank statements for salaried and pension book as well as bank statements for pensioners.
The interest rate offered on ESAF bank personal loans start at 14.81% p.a. Onwards for MCLR and 6.50% + Spread for RRLR.
No, there are no prepayment charges for ESAF personal loans.
Missing an EMI payment may result in late fees, increased interest, and a negative impact on your credit score.
Yes, self-employed individuals can apply for ESAF bank personal loans.
Yes, you can avail a minimum loan amount of ₹50,000 with ESAF bank.
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