If you are planning of applying for a personal loan then there is a one thing that should be on your top priority that the interest as it has major influence on overall cost of a personal loan. As you all know that there is no shortage of personal loan lenders in the market those provides it at affordable interest rate. But in this article, we will be talking about the Aditya Birla personal loan interest rate. As it is one the major names whenever there is talk about a personal loan.
At Aditya Birla, you get a personal loan at pocket-friendly prices that ranges from 14% p.a. to 26% p.a. All you are required is to simply fill up the loan application form and submit the asked documents that differs from one applicant profile to another.
Features of Aditya Birla Personal Loan:
- Speedy disbursement of the loan amount.
- The flexible loan repayment term maximum up to 5 years.
- Aditya Birla personal loan is a collateral-free loan as it doesn’t require any kind of security.
- Rapid online personal loan approval and processing.
- With Aditya Birla’s loan you even have the option to repay the loan ECS/NACH.
- Fixed rate of interest is charged on a personal loan ranges from 14% p.a. to 26% p.a.
- You can increase your loan approval chances the merging your income with co-applicant’s.
- Aditya Birla personal loan process is simple and easy.
- No change in interest throughout the tenure of the loan.
- You can avail of maximum personal loan amount of Rs. 50 lakhs from Aditya Birla.
Ways to get Personal Loan at a low-interest rate
- Choose a short loan repayment tenure
The faster you make the repayment of the personal loan, the lower the risk you pose to a lender. You can find most lenders offering better interest rates on loans with shorter repayment terms. If possible, go for a short loan term to get a competitive rate of interest.
- Improve the credit
Credit score and credit history are among the major factors that determine the interest rate a lender offers you. Maintaining a credit of 750 as it is considered the high one helps you to get a personal loan at low rate of interest. Some things have been listed below which can make you to improve the credit score:
- Timely payment of bills
- Pay off all the debts
- Manage the balances
- Dispute any inaccuracies in the credit report
- Make timely credit card bill payments
Factors affecting the Aditya Birla Personal Loan
- Income: As personal loans are unsecured loans and do not involve any security against them and a high monthly income works as an assurance to the lenders.
- Nature of Employment: Personal loan lenders may offer different interest rates to the applicants based on whether they are self-employed or salaried.
Aditya Birla Personal Loan EMI Calculator
Once a borrower has decided to take a personal loan it is very important to check the monthly EMI that needs to be paid. As it helps decide the loan amount and plan the monthly budget. You can have a lot of benefits of knowing your EMI beforehand.
Few steps are required to calculate with Aditya Birla personal loan EMI Calculator, those are:
- Visit the official website of the Aditya Birla Finance Limited.
- Go to the ‘Tools and Calculators’ page where the option for ‘Personal Loan EMI Calculator’ is available.
- After entering the page, they will be three fields, where a few details need to enter:
- Loan Amount
- Interest Rate and
- Tenure in years.
- After entering the above details, the calculator automatically calculates the loan EMI amount to be paid and displays the result on the same page. It takes micro seconds to check the EMI amount with the few clicks on the mouse.
Eligibility Criteria for Aditya Birla Personal Loan
An applicant needs to fit into the below-listed criteria for availing Personal Loan from Aditya Birla. The criteria are:
- The applicant should be a salaried professional with a regular source of earning.
- If in case an applicant is self-employed professionals and businesses, Aditya Birla offers business loans to those.
- The applicant’s minimum age should 23 years.
- An applicant’s maximum age should be 60 years to eligible for Aditya Birla Finance Personal Loan.
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