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Bandhan Bank - Interest rates from 11.55%

Explore Bandhan Bank’s range of personal loans for all your financial needs. With hassle-free application &swift approvals, get the funds you require in no time.

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Bandhan Bank Personal Loans

Whether you need a loan to consolidate debt, finance a home renovation, or cover unexpected expenses, Bandhan Bank Personal Loan can help. Bandhan Bank offers personal loans ranging from a few thousand rupees to lakhs of rupees with flexible repayment options.

Features of Bandhan Bank Personal Loan

Competitive interest rates: Bandhan Bank offers competitive interest rates on its personal loans. This means that you can save money on interest payments over the life of your loan.

Loan amounts from ₹50,000 to ₹25,00,00
Interest rates starting from 11.55% p.a.

Flexible repayment terms: Bandhan Bank offers flexible repayment terms up to 60 months. This allows you to choose a repayment plan that fits your budget and needs.

Quick and easy loan processing: Bandhan Bank has a quick and easy loan processing process. You can apply for a loan online or at your nearest branch. Once your application is approved, the loan amount will be disbursed into your bank account within a few days.

Doorstep document pick-up process: Bandhan Bank offers a doorstep document pick-up process for personal loans. This means that you do not have to visit the branch to submit your documents.

Part-payment feature: Bandhan Bank offers a part payment feature on its personal loans. This allows you to make partial payments towards your loan balance at any time.

Nil foreclosure charges: Bandhan Bank does not charge any foreclosure charges on personal loans of ₹10 lakh and above.

Eligibility for Bandhan Bank Personal Loan

Indian citizen
Salaried individual or self-employed professional
Minimum age of 21 years for salaried individuals and 23 years for self-employed professionals
Maximum age of 60 years at the time of loan maturity for salaried individuals and 65 years for self-employed professionals
Good credit score
For salaried, minimum 1 transaction is required in the main account on a monthly basis. For self-employed, 1 debit or 2 credit transactions is required on a monthly basis

Charges in Bandhan Bank personal loan

Following are the fees and charges that everyone availing a personal loan from Bandhan Bank must be aware of.

Loan processing charges – upto 3% of loan amount
Cheque bounce charges – Rs. 500
Late Payment charges – 2% per month on the monthly outstanding
Part payment charges – Allowed upto 25% of principal outstanding only once in a year and twice during the tenure. Applicable only after repayment of the first 12 EMIs
Foreclosure Statement – Rs. 100

Foreclosure charges:

4% of principal outstanding within first 12 months
5% of 12 months of repayment
No foreclosure for loans 10 Lakhs and above after 12 months of repayment

Duplicate Statement: Rs. 100

Duplicate NOC: Rs. 300

Stamp Duty: As per state law

Documents required for Bandhan Bank Personal Loan

ID and Address Proof – Passport/Aadhar/Voter
One recent photo
Last three months’ salary slip and form 16 for 1 year for salaried
ITR for last two years for Self-employed

How to Apply for Bandhan Bank Personal Loan?

To apply for a Bandhan Bank Personal Loan, you can visit your nearest branch or apply online at Fincover. You will need to submit the following documents:

KYC documents (PAN card, Aadhaar card, and passport-size photographs)
Income proof (salary slips for salaried individuals and income tax returns for self-employed professionals)
Bank statement for the past 6 months
You will get a reference number after completion of document submission. Check with the loan status with the reference number provided.

1. What is the maximum and minimum loan amount that I can avail from Bandhan Bank personal loan?

You can avail any loan amounts from Rs. 50000 to Rs. 25 lakhs from Bandhan Bank

2. What is the rate of interest and tenure for a Bandhan Bank Personal Loan?

The Interest rates of their personal loan begins at 11.55% and a maximum tenure of 60 months is allowed

3. Can I prepay or foreclose my Bandhan Bank Personal Loan, and are there any charges for doing so?

Yes, you can prepay or foreclose your personal loan with Bandhan Bank. The bank may charge prepayment or foreclosure fees, which can vary based on the specific loan product and terms. (Begins at 4% for first 12 months)

4. How long does Bandhan Bank take to process the Personal Loan?

The processing time may vary for each applicant, but Bandhan bank strives to complete the loan processing within short time. It can take a few days or upto a week from the time of application depending on various factors such as document verification and approval.

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