Mar 9

Aditya Birla Finance Personal Loan

Aditya Birla Finance Personal Loan Interest Rates

Aditya Birla Finance Personal Loan Details
Interest Rate (Monthly reducing balance) 11.00% to 13.75%
Processing Fees 1% of the loan amount
Loan Tenure 1 year to 5 years
Pre-closure Charges 4% of principal outstanding in the 1st year; 3% in the 2nd year and 2% thereafter
Preclosure permitted after 6 months
Guarantor Requirement No guarantor required

Eligibility criteria for Aditya Birla Finance Personal Loan

Before you can apply for this personal loan, there are certain eligibility criteria that you will need to conform to. This criteria is:

  • The applicant will have to be a permanent employees of Aditya Birla Financial Services Group.
  • They will also have to be at least 23 years old and no older than 57 years old.
  • The will also have to have a minimum net monthly income that is not less than Rs. 25,000.

Features and benefits of Aditya Birla Personal Loan

If you prove to be eligible for this Aditya Birla Finance personal loan, here are some of the features you can expect to see as the defining points of the loan.

  • The minimum amount that can be borrowed will be Rs. 2 lakhs, while the maximum amount is 20 lakhs.
  • The tenure of the loan can range from 12 months to 3 years.
  • The interest rates charged for this loan is 14% per annum, however, this can change from time to time and it’s best to confirm the interest applicable before applying.
  • The interest rate charged in case of violation of the terms and conditions of the loan will be 24% per annum.
  • Applicants can even apply for the loan online and don’t have to worry about dealing with complicated paperwork.
  • If the applicant is a part of the Aditya Birla Financial Services Group then they won’t have to pay the processing fee.
  • This loan will require no guarantors or collateral to secure it.
  • The loan will also allow you to make partial prepayments without having to pay any prepayment penalties.
  • Prepayment or partial payments won’t be allowed for the first 6 months of the loan tenure.
  • If a partial payment is being made, then it cannot be an amount less than Rs. 25,000.
  • It can also be used to buy out any other existing loan.
  • If applicants go in for a cancellation of the loan once it has been disbursed then a charge of 4% of the amount disbursed will be charged.

Documents required for Aditya Birla Finance Personal Loan

Approval of this loan will not only depend on you being able to meet the eligibility criteria set down, but also on your ability to provide the following documents.

  • The first and foremost document will be the application form with a photograph.
  • KYC documents relating to a proof of identity and address will be needed too.
  • You will also have to provide your bank statements for the last 6 months.
  • You salary slips for the last 3 months will also be needed.
  • In case you plan on taking a loan that is beyond the means of your monthly income, you can provide document about income from other sources to prove your eligibility.

While these are the standard documents that will be required to apply for the Aditya Birla Finance personal loan, there could be others that the company may ask for.

As far as personal loans are considered, this loan is very convenient for those who are eligible for it since it does not come with the requirement of collateral but it does come with high loan amounts that can be essential when the sum needed as a loan is big too.



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