AU Small Finance Bank Personal Loan Interest Rate: Personal loans are unsecured loans that can be availed by an individual for various purposes, such as debt consolidation, wedding expenses, home renovation, medical emergencies, and more. AU Small Finance Bank is one of the leading banks in India that offers personal loans to customers at competitive interest rates. In this article, we will provide you with a comprehensive guide to AU Small Finance Bank personal loan interest rates, eligibility criteria, documentation requirements, and more.
Table of Contents
- Introduction
- AU Small Finance Bank Personal Loan Interest Rates
- Types of AU Small Finance Bank Personal Loans
- Secured Personal Loans
- Unsecured Personal Loans
- Eligibility Criteria for AU Small Finance Bank Personal Loans
- Documentation Required for AU Small Finance Bank Personal Loans
- How to Apply for an AU Small Finance Bank Personal Loan?
- Features and Benefits of AU Small Finance Bank Personal Loans
- Flexible Repayment Options
- Quick Processing and Disbursal
- Competitive Interest Rates
- Frequently Asked Questions
- Conclusion
AU Small Finance Bank Personal Loan Interest Rates
AU Small Finance Bank offers personal loans at competitive interest rates starting from 10.50% per annum. The interest rate charged on the personal loan may vary depending on several factors such as loan amount, tenure, credit score, and more. The bank also offers pre-approved personal loans to customers who meet certain eligibility criteria, which can be availed at even lower interest rates.
Types of AU Small Finance Bank Personal Loans
AU Small Finance Bank offers two types of personal loans – secured personal loans and unsecured personal loans.
Secured Personal Loans
Secured personal loans are those loans that require collateral or security from the borrower. The collateral can be in the form of a fixed deposit, property, or any other asset. Secured personal loans are generally offered at lower interest rates than unsecured personal loans due to the presence of collateral.
Unsecured Personal Loans
Unsecured personal loans are those loans that do not require any collateral or security from the borrower. These loans are offered based on the borrower’s creditworthiness and ability to repay the loan. Unsecured personal loans are generally offered at higher interest rates than secured personal loans due to the absence of collateral.
Eligibility Criteria for AU Small Finance Bank Personal Loans
To be eligible for an AU Small Finance Bank personal loan, you must meet the following criteria:
- You must be a resident of India
- You must be between 21 to 60 years of age
- You must have a stable source of income
- You must have a good credit score
- You must have a minimum monthly income of Rs. 15,000
Documentation Required for AU Small Finance Bank Personal Loans
The following documents are required to apply for an AU Small Finance Bank personal loan:
- Identity Proof (Aadhaar Card, PAN Card, Passport, Voter ID)
- Address Proof (Aadhaar Card, Passport, Driving License, Utility Bill)
- Income Proof (Salary Slips, Bank Statements, ITR)
- Passport Size Photographs
How to Apply for an AU Small Finance Bank Personal Loan?
You can apply for an AU Small Finance Bank personal loan online or offline. To apply online, visit the bank’s website and fill in the application form with the required details. To apply offline, visit the nearest branch of AU Small Finance Bank and submit the required documents along with the application form.
Features and Benefits of AU Small Finance Bank Personal Loans
AU Small Finance Bank personal loans come with several features and benefits, such as:
Flexible Repayment Options
AU Small Finance Bank offers flexible repayment options for personal loans, ranging from