Personal Loan in Lucknow


Lucknow is a city of tradition and whose history thrives alongside progress. The city has many banks and NBFCs that cater to the financial needs of the people. Financial services like tailor-made Personal Loans in Lucknow are quite popular. You can pursue higher education, plan a grand celebration, or meet unexpected expenses with a personal loan in Lucknow.

Check out the eligibility criteria, interest rates, and charges for an online personal loan in Lucknow.

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Obtain an Instant Personal Loan in Lucknow

In times of financial urgency, an instant personal loan is the best choice. For a convenient personal loan experience in Lucknow, it's advisable to explore diverse lenders offering quick personal loan solutions. These loans extend swift financial aid to address pressing needs, often receiving approval within a few hours. Ensure you have all the information to secure an instant personal loan in Lucknow.

Interest Rates 11.99%* p.a. onwards
Loan Tenure Up to 5 years
Loan Type Unsecured Personal Loan
Loan Amount Up to ₹15,00,000
Minimum Salary ₹15,000/-
Approval Time 24 hours approx
*The interest rates mentioned are dynamic and subject to change based on your credit history and creditworthiness.

Personal Loan Interest Rates in Lucknow

When considering financial options such as personal loans in Lucknow, it's critical to be mindful of interest rates. Personal loan interest rates in Lucknow vary depending on the amount borrowed, the market conditions, and the borrower's creditworthiness. Do your research and compare interest rates from several lenders if you want to receive a good deal.

Personal Loan Interest Rate 11.99%* p.a. onwards
Repayment Tenure Up to 5 years
Processing Fees 2% to 6% of the loan amount
Late Payment Charges 2% of the due amount
Prepayment Charges Up to 2% to 4%
*The interest rates mentioned are dynamic and subject to change based on your credit history and creditworthiness.

Learn about Personal Loan Providers in Lucknow

Learning about all the lenders before applying for a loan equips you with better insights. It helps in finding the best personal loan provider in Lucknow that suits your financial needs. Check out the banks and NBFCs that provide personal loan in Lucknow.

Banks in Lucknow for Personal Loan

Uncover a variety of banks in Lucknow that provide personal loans with personalised options. Select a suitable lender to meet your specific financial requirements.

Check out the top banks that provide personal loans in Lucknow from below:

Name of Bank Interest Rates (p.a.)
Axis Bank 10.49% onwards
State Bank of India (SBI) Axis Bank PerLoan11% onwards
HDFC Bank 10.50% onwards
Punjab National Bank 10.40% onwards

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

NBFC in Lucknow for Personal Loan

Learn about the multiple non-banking financial institutions (NBFCs) and private lenders in Lucknow that provide a range of personal loan options. These NBFCs offer fast loan approvals and easy loan disbursements for your urgent needs.

Personal Loan by NBFC Interest Rates (p.a.)
Paysense Personal Loan 16.8% onwards
Upwards Personal Loan 9% onwards
Incred Personal Loan 16% onwards

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Eligibility for Personal Loan in Lucknow

To apply for a personal loan in Lucknow, you must meet some eligibility requirements. Although each lender may have different requirements, the following are a few common eligibility criterias for a personal loan in Lucknow:

Age: Between 21 to 60 years.

Income: Minimum ₹15,000 per month.

Residence: Bust be an Indian resident.

Employment: Salaried employee of the public or private sector companies. Or self-employed individuals with a stable income.

CIBIL Score: 750 or higher. A higher score increases approval chances.

Calculate EMI for a Personal Loan in Lucknow

It is important to estimate your monthly EMI before submitting your personal loan application in order to ensure a hassle-free repayment process. Use the EMI calculator for personal loans provided below. Get an accurate EMI, just choose your preferred loan amount, interest rate, and period.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Documents Required for a Personal Loan in Lucknow

In order for the lender to approve your application for a personal loan, you must provide them with an assortment of documentation. The following is a list of the fundamental documents required for personal loans in Lucknow:

Address Proof: Aadhaar card, recent utility bill, or rental agreement.

Identity Proof: Aadhaar card, passport, driver's license, or any government issued photo ID proof.

Employment Proof: Employee ID card, appointment letter, or business proof.

Income Proof: Salary slips, bank statements, or income tax returns.

Photographs: Passport-sized photos for application.

Important Features of Personal Loans in Lucknow

Personal loans in Lucknow offer multiple attractive features that make it a brilliant choice for everyone. Securing a personal loan in Lucknow is easy because of the low-interest rates and swift approval. Check below for a list of personal loan features.

Collateral Free

No need to risk your
assets to avail loan.

Instant Approval

Get loan approval in a
matter of minutes.

Affordable Interest Rates

Interest rates starting
at just 11.99% p.a.

All Purpose Loan

Use the loan amount
however you want.

Flexible Repayment

Loan repayment period of
up to 5 years.

No Hidden Fee

No hidden charges and
penalties

Various Types of Personal Loan in Lucknow

To meet your unique financial needs, you have a variety of personal loan choices in Lucknow. The loans are easy to personalise with the tenure and loan amount you desire. Given below are the several personal loan categories offered in Lucknow:

Medical Personal Loan: Specifically, loans designed to cover medical expenses, including treatments, surgeries, and hospital bills.

Wedding Personal Loan: This loan funds wedding-related expenses, including venue, catering, decorations, and more.

Education Personal Loan: It helps finance education expenses, such as tuition fees, books, and living costs.

Travel Loan: It is intended for funding travel expenses, including flights, accommodation, and other vacation-related costs.

Emergency Personal Loan: It provides funds quickly for unforeseen expenses, such as medical emergencies or urgent home repairs.

Small Business Personal Loan: A loan for individuals looking to start or expand a small business in Lucknow.

Personal Loan in Lucknow for Low CIBIL Score

Although a low CIBIL score can reduce the chances of your loan being approved, it doesn’t put an end to your loan journey. You can now secure a personal loan in Lucknow even with a low credit score by following these steps:

Stable Income Proof: If you have a steady source of income, lenders might lend to them. Provide documentation of your income, such as pay stubs or tax returns.

Co-Signer or Guarantor: Having a co-signer with a strong credit history can increase your chances of loan approval.

Consider Collateral: If you have valuable assets, such as property or investments, you might use them as collateral for the loan.

Research Lenders: Look for lenders in Lucknow who specialize in providing loans to individuals with low credit scores.

Tips for Choosing the Right Personal Loan in Lucknow

The right lender can make your loan experience smoother. That is why choosing the perfect lender is an important part of the process. Given below are some tips to help you choose the right personal loan in Lucknow.

Assess Your Needs: Clearly define the purpose of the loan and the exact amount you need. This will help you narrow down your options and avoid borrowing more than necessary.

Check Interest Rates: Compare interest rates from multiple lenders. Even a small difference in interest rates can significantly impact the total cost of the loan.

Understand Fees and Charges: Inquire about any processing fees, prepayment penalties, or other charges associated with the loan. Make sure you're aware of all potential costs.

Loan Repayment Terms: Consider the loan tenure and monthly installment amount. A longer tenure may cause lower monthly payments, but you'll end up paying more in interest.

Compare Additional Features: Some lenders offer additional features like loan insurance, top-up loans, or the option to defer payments in case of emergencies.

Steps to Apply Online for an Instant Personal Loan in Lucknow

You can apply for a personal loan on Buddy Loan in Lucknow by following these steps:

Step 1: Visit - buddyloan.com or Download & install Buddy Loan app.

Step 2: Fill out the application form, which includes the loan amount, the tenure in months, and contact details.

Step 3: Enter the following personal information:

  • Email Address
  • employment type: Salaried/ self-employed
  • Company Type
  • Industry Type
  • Current Company Name
  • Company Address
  • Year of Employment
  • Net Income
  • Mode of Salary
  • PAN Card Details
  • Full Name (As Per Pan Card)
  • Current Address with PIN Code
  • Mobile Number

Step 4 Complete the loan application and wait for confirmation.

Ready to take next step?

Frequently Asked Questions

Yes, you can get instant approval for a personal loan if you meet the lender's eligibility criteria. Provide all the required documents as is requested.

To secure the best interest rate on a personal loan, maintain a high credit score. Compare offers from multiple lenders, and negotiate based on your financial profile and market rates.

Unsecured Personal Loans offer the advantage of not requiring collateral, making them accessible to borrowers without risking their assets. They also involve a quicker application process compared to secured loans.

Buddy has a simple and easy-to-follow application process. Check out the step-by-step process in the above article and apply for a personal loan in Lucknow through Buddy Loan.

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