Personal Loan Offers With Zero Processing Fee

By Shipra Sharma | December 2, 2019

Need urgent cash? Fret not! We’ve compiled a list of Personal Loans that offer zero processing fees and have a quick approval process. Read on.

If you find yourself in the middle of a financial emergency, these Personal Loan offers with zero processing fees can help you turn things around in a jiffy. Check them out!

Additional Reading: Personal Loan Handbook: All Questions Answered

Tata Capital Personal Loan

Interest Range: 11.25%-14.49%

Eligibility Criteria:

  • You should be at least 24 years and less than 55 years of age if you are salaried. For self-employed individuals the maximum age limit is 65 years.
  • If you are a salaried individual, it’s mandatory for you to have worked with your current employer for at least 1 year.

Features:

  • Avail loans up to Rs. 20 lakhs with a maximum loan tenure of 6 years.
  • You can take out a Personal Loan without the need for security, collateral or guarantors.
  • Balance transfer, top-up loan and e-approval facilities are also available.

Fees and Charges:

  • 25% part-payment is allowed within a year of taking the loan, at no charge.
  • No processing fee if you apply via BankBazaar.
  • Foreclosure charges: Rs. 5,000 after 12 months, depending on the loan amount. 4.5% of the principal outstanding at the time of foreclosure is applicable if it’s done via balance transfer.

Additional Reading: 6 Common Reasons For Personal Loan Rejection

IndusInd Personal Loan

Interest Range: 11.00%-16.75%

Eligibility Criteria:

  • You should be at least 21 years and less than 60 years of age. The maximum age limit for self-employed individuals is 65 years.
  • If salaried, you should have completed a minimum of two years in employment and a minimum of one year in the current organisation. Self-employed individuals should have at least 5 years of experience.
  • If you live in a rented house, you should have completed a minimum one year of stay at the current residence.
  • You should have a valid ID proof like passport, pan card, driving license, voter ID card, and photo ration card.

Features:

  • Avail loans up to Rs. 25 lakhs depending on your eligibility, income, nature of job and repayment capacity.
  • You can take out a Personal Loan without the need for security, collateral or guarantors. Also, keep in mind that part payment option is not available.
  • Balance transfer, top-up loan and e-approval facilities are also available.
  • No processing fee if you apply via BankBazaar.

Fees and Charges:

  • Foreclosure fee: 4% of the principal outstanding after repayment of 12 monthly installments.

Home Credit Personal Loan

Interest Range: 13.00%-30.00%

Eligibility Criteria:

  • You should be at least 19 years and less than 58 years of age.
  • You should be salaried with a minimum net monthly income of Rs. 15,000 and above.

Features:

  • Avail loans up to Rs. 2 lakhs depending on your income, eligibility, nature of job and repayment capacity.
  • No guarantor is required to apply for this Personal Loan.
  • No processing fee.
  • Loan disbursal within a day.

Fees and Charges:

  • No preclosure charges (Note: Preclosure is allowed only after 6 months.)
  • No part-payment fee.

Additional Reading: Everything You Should Consider Before Getting A Personal Loan

Didn’t find what you were looking for? Don’t worry! We have other equally amazing offers exclusively for you. Go ahead and explore your options right away!

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Loans Money Management Personal Loans UCN
Shipra Sharma

About Shipra Sharma

Shipra left her job as a correspondent with Outlook Money to be a full-time content superstar at BankBazaar. Apart from a passion for Personal Finance, she is a lover of beaches, coffee, books, and comics. Though believes she is no orator, she certainly has a point of view when it comes to writing.

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