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
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