Personal Loan in Noida

Last Updated : Aug. 17, 2020, 7:24 p.m.

New Okhla Industrial Development Authority, or commonly known as Noida, is a destination of many top-notch IT as well as financial companies. With a wide range of leading banks and NBFCs, this city leaves no stone unturned in fulfilling your financial needs with a personal loan in case you do not have adequate savings.

You can avail of this unsecured loan without any collateral and enjoy easy repayment options. Also, minimal documentation is required for getting a personal loan in this top city. If you meet the eligibility criteria, you can get the fastest approval on your personal loan application.

Apply Personal Loan @ 10.75%* Rate

But do you know the number of branches that lenders have in Noida for this loan facility? No! We can help you know the same, along with several other critical details. So, keep reading!

Top Banks Offering Personal Loans in Noida

Note – The number of branches which is shown against lenders is approximate and as per the data till August 5, 2020. Also, the total number of branches in Noida for some lenders could not be found, so the “-” sign is marked in the respective space.

Personal Loan EMI Calculator Noida

You can use the Personal Loan EMI Calculator and generate your EMI amount before the repayment. It helps you manage the loan payments. And you can also save on your interest outgo as you know personal loan interest rates are quite high compared to secured loans. To use an EMI calculator, you just need to insert details like loan amount (P), interest rate (r) and tenure (n). The calculator functions according to the mathematical formulae P × r × (1 + r)n/((1 + r)n – 1).

For example, you need a loan amount of INR 5 lakh for a medical emergency. And you thought of getting a personal loan to meet your expenses. Before you apply for the loan, you estimate how much EMI you need to pay for the loan if the interest rate is 11.25% per annum. Check out the table that shows the repayment estimates for you.

Personal Loan Eligibility

To apply for a personal loan in Noida, you need to meet the eligibility criteria first. What is the eligibility criterion for personal loans in Noida? Personal loans are unsecured loans, so you don’t need to pledge collateral to get them. The lender provides you a personal loan based on your income, age, employment status, job history, residing city, and CIBIL score . If you meet these factors only then you can borrow a personal loan in Noida. Check out the table below and know what is the eligibility criterion of a personal loan in this city.

For Salaried Employees

For Self-employed Individuals

Eligibility Calculator

There are lenders that show the personal loan eligibility calculator on their website. The device generates the loan amount. You just need to insert a few details like-

• Monthly income
• Monthly expenses
• Credit card bills
• Current loan EMIs
• Employer name (if salaried)

Documents Required for Personal Loan in Noida

• Identity Proof- PAN Card/Voter ID/Driving License/Aadhar Card/Passport
• Address Proof- Utility bill/Passport/Aadhar card/Voter ID
• Income Proof- Latest Salary Slip/ ITR/Form-16
• Bank Statement- Last 3-6 Month Bank Statement

Balance Transfer

You can transfer your personal loan in Noida from one lender to another using the balance transfer facility. With this, your outstanding loan balance is transferred to the new lender and EMI starts at a new rate of interest. What benefits does it provide? With the balance transfer of your personal loan , you can save on your EMI payment and reduce the interest outgo. When to do a balance transfer? If you are unable to manage the EMI payments due to the high EMI, it’s time for you to switch the lender. See the example and know how balance transfer will help in your loan repayment.

Suppose you borrowed INR 10 lakh personal loan. And due to the high rate of interest of 18% per annum, you are finding it difficult to pay your EMIs. So, after 2 years of its payment, you find a lender that provides an interest rate of 12% per annum. Look at the table below and know how much you’ll save after the balance transfer of your personal loan.

Apply for a Personal Loan in Noida

To borrow a personal loan, you just need to follow a simple procedure. There are two ways by which you can borrow a personal loan.

Online Personal Loan

• Go to the official website of the bank or NBFC you want to apply at
• Apply for a Personal Loan by going to its products section
• Click to ‘Apply Now‘
• Fill the form by mentioning your personal details
• Submit the form and upload the necessary documents

Offline Personal Loan

• Visit your nearest bank or NBFC branch
• Ask for a personal loan from the representative
• You will get an application form
• Fill up the form
• Submit the form with passport size photographs and necessary documents

After that, you just need to wait for the lender to respond. If all goes well, the loan would be disbursed to your bank account within 7 days of the approval.