How much time does it take to process a personal loan with ABFL?

If you are applying for a loan online, the loan might be approved within 30 minutes.

How do I know the status of my loan?

You can know the status of your loan very easily by logging in to your profile with Aditya Birla Finance Limited. If you have applied for the loan through BankBazaar, you can check the status by logging in to your BankBazaar profile as well. In addition to these, you will also receive regular SMS and email alerts from BankBazaar to notify you about the status of the loan. You can also consider using the mobile phone application of BankBazaar for the same.

How is the maximum loan amount decided for an applicant?

The maximum loan amount for which an applicant will be eligible is decided by the lender. For this purpose, the lender considers several things such as the applicant's income, his or her credit score, and so on. The number of other active loans and the amount spent by the applicant towards EMIs monthly also play a major role in this case.

What is a short-term personal loan?

A short-term personal loan is usually offered for a short period of time. In most cases, a personal loan with a repayment tenure of 12 months is considered a short-term personal loan.

What is a medium-term personal loan?

A medium-term personal loan has a repayment tenure which is usually longer than that of a short-term loan. In general, a personal loan with a repayment tenure of around 12 to 36 months is considered a medium-term personal loan.

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Aditya Birla Finance Personal Loan

Aditya Birla Finance personal loan is offered at competitive interest rates subject to minimal documentation.

Interest rate starts from 19.45% p.a. to 20.45% p.a.
Loan repayment tenure up to 36 months
Personal loans offered up to Rs.15 lakh

We found 1 Aditya Birla Finance Limited Personal Loan

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Interest Rate

10.99%10.99%

Interest Rate range:
10.99% - 10.99%

Zero Part Payment Fee

Aditya Birla Capital Personal Loan
Loan Amount
:
Up to ₹50L
Fixed
:
10.99%
Tenure
:
7 Years
Processing Fee
:
3.00%

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Fees & EligibilityFeatures

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Features of Aditya Birla Personal Loan

Quick disbursal of loans.
Flexible repayment tenure from 6 months up to 36 months.
No collateral required.
Fast online approval of loans.
Nominal interest rates.
No documentation required for sanction of loans.
Application process is hassle-free.
There was no change in interest throughout the tenure of the loan.
Loan amount of up to Rs.15 lakh.

Aditya Birla Finance Personal Loan Eligibility Criteria

Before you can apply for this personal loan, there are certain eligibility criteria that you will need to conform to. These factors are:

The applicant will have to be a salaried professional with a regular source of income.
In the case of self-employed professionals and businesses, business loans are offered.
The minimum age required to be eligible for Aditya Birla Finance Personal Loan is 23 years.

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Documents required for Aditya Birla Finance Personal Loan

Some of the documents that will be required for applying for a personal loan are listed below:

Credit information: ABFL will require your PAN card to check the information in relation to your credit history.
Proof of Identity: You will be required to submit your proof of identity such as PAN card, Aadhaar card, passport, etc.
Proof of address: You will be required to submit your proof of residential address. For this purpose, you can submit your Aadhaar card, PAN card, ration card, and so on.
Bank statements: ABFL will require your bank statements to provide you with the best possible offer. ABFL also makes initial offers without a bank statement.

In addition to the documents mentioned above, you might be required to submit a few more documents as per the requirement put forward by Aditya Birla Finance Limited.

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How the EMI Calculation works for Aditya Birla Finance Personal Loans?

The EMI calculation for Aditya Birla Finance personal loan can be best explained with the help of an example. Consider a scenario where you take a personal loan of Rs.1 lakh from the company. The company charges you an interest rate of 14% for a loan tenure of one year. The loan repayment schedule and EMI details for this loan can be given as follows:

Months	Principal	Interest	EMI amount (principal + interest)	Balance amount	Percentage of loans paid to date
Apr	Rs.7,812	Rs.1,167	Rs.8,979	Rs.92,188	7.81%
May	Rs.7,903	Rs.1,076	Rs.8,979	Rs.84,285	15.72%
Jun	Rs.7,995	Rs.983	Rs.8,979	Rs.76,289	23.71%
Jul	Rs.8,089	Rs.890	Rs.8,979	Rs.68,201	31.80%
Aug	Rs.8,183	Rs.796	Rs.8,979	Rs.60,018	39.98%
Sep	Rs.8,279	Rs.700	Rs.8,979	Rs.51,739	48.26%
Oct	Rs.8,375	Rs.604	Rs.8,979	Rs.43,364	56.64%
Nov	Rs.8,473	Rs.506	Rs.8,979	Rs.34,891	65.11%
Dec	Rs.8,572	Rs.407	Rs.8,979	Rs.26,320	73.68%
Jan	Rs.8,672	Rs.307	Rs.8,979	Rs.17,648	82.35%
Feb	Rs.8,773	Rs.206	Rs.8,979	Rs.8,875	91.12%
Mar	Rs.8,875	Rs.104	Rs.8,979	Rs.0	100.00%

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How Aditya Birla Finance Compares with other Lenders?

Fees and charges	Aditya Birla Capital	Bank of India Personal Loan	Kotak Mahindra Bank Personal Loan	HDFC Bank Personal Loan
Interest rate	19.45% p.a. to 20.45% p.a.	10.85% p.a. onwards	10.99% p.a. onwards	10.85 p.a. - 24% p.a.
Processing fee	Contact the lender for more information	Contact the lender for more information	5.00% of the final loan amount plus applicable taxes	Up to Rs.6,500 plus GST
Foreclosure charges	NA	N/A	2% - 4% of the principal outstanding	2% to 4% of the outstanding loan amount
Late payment fee	NA	Contact the bank for details	3% of the overdue amount per month	2% of the overdue amount per month

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FAQs on Aditya Birla Finance Personal Loan

How much time does it take to process a personal loan with ABFL?
If you are applying for a loan online, the loan might be approved within 30 minutes.
How do I know the status of my loan?
You can know the status of your loan very easily by logging in to your profile with Aditya Birla Finance Limited. If you have applied for the loan through BankBazaar, you can check the status by logging in to your BankBazaar profile as well. In addition to these, you will also receive regular SMS and email alerts from BankBazaar to notify you about the status of the loan. You can also consider using the mobile phone application of BankBazaar for the same.
How is the maximum loan amount decided for an applicant?
The maximum loan amount for which an applicant will be eligible is decided by the lender. For this purpose, the lender considers several things such as the applicant's income, his or her credit score, and so on. The number of other active loans and the amount spent by the applicant towards EMIs monthly also play a major role in this case.
What is a short-term personal loan?
A short-term personal loan is usually offered for a short period of time. In most cases, a personal loan with a repayment tenure of 12 months is considered a short-term personal loan.
What is a medium-term personal loan?
A medium-term personal loan has a repayment tenure which is usually longer than that of a short-term loan. In general, a personal loan with a repayment tenure of around 12 to 36 months is considered a medium-term personal loan.

Important Personal Loan Pages

Personal Loan Eligibility by Banks

Personal Loan Interest Rates by Bank

Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Personal Loan Status Track by Bank

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Aditya Birla Finance Personal Loan

Filter

Bank

Interest Rate

Zero Part Payment Fee

Aditya Birla Capital Personal Loan

Features of Aditya Birla Personal Loan

Aditya Birla Finance Personal Loan Eligibility Criteria

Documents required for Aditya Birla Finance Personal Loan

How the EMI Calculation works for Aditya Birla Finance Personal Loans?

How Aditya Birla Finance Compares with other Lenders?

FAQs on Aditya Birla Finance Personal Loan