“Get Bandhan Bank Personal Loan at 10.50% – Fast Approval, Easy EMI Calculator, 100% Online”

Bandhan Bank Personal Loan is an excellent option for those individuals who are looking for quick funds for the various reasons like; home renovations, wedding expenses, medical emergencies or it may debt consolidation. In the era of online journey, anyone can apply for Bandhan Bank Personal Loan online by their widgets.

Introduction

Bandhan Bank is one of the India’s largest private sector banks which offering a different kind of financial services including person loans. In that anyone can take loan by checking their eligibility criteria, repayment options, EMI calculator as well as application process.

In this article we are going to discuss key features of bandhan bank personal loan, how can you apply online, what is the interest rate, eligibility of taking loan, EMI calculation and more.

Key Features of Bandhan Bank Personal Loan

Interest Rate: Bandhan Bank Provides attractive interest rate for the applicants on their personal loans. The rates starts from 12% per annum.

Loan Amount: Bandhan Bank offers the loan amount range from Rs.50,000 to Rs.25,00,000 as per applicants need or requirement.

Easy Application Process: Bandhan Bank avails the both medium of application process; online as well as through visit branches. In the offline process they can get a doorstep pickup options for the documentation.

Repayment Tenure: Bandhan Bank provides flexible repayment options. It includes tenure from 12 months to 60 months as per the applicant’s flexibility.

Active Customer Support: The Bandhan Bank provides active customer support for any query, any issue or anything related to the loan process and resolution for this.

Quick Disbursal: The loan funds approves fast and transfer funds easily within a two working days. So, applicant don’t need to wait for more days for the funds.

Bandhan Bank Personal Loan Interest Rate

What is the Bandhan Bank Personal Loan interest rate? It is competitive and different based on the factors affecting of applicants.

• The credit score of client may affect to it. Rate will be depend either higher or lower according to applicant’s data. If applicant have higher credit score 700+ then, it ensures better rates.
• The income of the applicant also decides the interest rate of the Bandhan Bank Personal Loan. If applicant have regular income that they will lead lower charges.
• The type of employment also decides the rate of interest. If applicant is salaried person or may be self-employed. It decides the source of income either it is regular basis or not.
• Loan amount and tenure also affects to the rate of interest. short tenures may have lower interest rather then longer tenures.
• If applicant is existing customer in the bandhan bank then, they may get preferential rates.

Bandhan Bank Personal Loan Eligibility Criteria

What is the eligibility criteria for the personal loan? It depends either you are a salaried person or a self-employed.

For Salaried person: The age of applicant should be in between 21 to 60 years and the minimum monthly income is Rs.25000 or it may varies by city, if you lives in town, city or district then it depends on that. Applicant has at least 2 years of working experience, while 1 year of experience in the current job. The preferred credit score is 650+ for the eligibility.

For self-employed or Business owners or professionals: The age of applicant should be in between 25 to 65 years. They have running minimum 3 years of quality business. The annual income of them should be as per the requirements by bank. At the end they have filled at least 2-3 years ITR.

Documents Required for Bandhan Bank Personal Loan

There are some documents required for complete the process and legal activities according to the norms. So, let’s see which documents are necessary for taking a loan.

• Identity Proof: In the identity proof, applicant need AdharCard, Passport, Pan Card as well as Voter ID or any government authorized identity.
• Address Proof: While in the address proof applicant need for Utility bill, Driving licence, AdharCard, Rental Agreement and etc.
• Income Proof for Salaried: For the salaried applicant or employee need salary slips for last 3 months as well as bank statements for last 6 months.
• Income Proof for Self-employed: For the business owner or self employed need ITR (Income Tax Return) of last 2 or 3 years as well as bank statements for last 6 months.
• And at the end Passport-size Photographs of the applicant.

How to Apply for Bandhan Bank Personal Loan Online?

Now days online apply is too easy and hustle free process for the applicant. They just need to follow some steps and do it in shorter time period.

Step 1: At the first step applicant just need to go on the official website of Bandhan Bank. They have to Go to www.bandhanbank.com and click on the “Personal Loan” section and explore this.

Step 2: After selecting personal loan just check the eligibility and calculate EMI as per your loan. For the calculating EMI applicant can use Bandhan Bank Personal Loan EMI Calculator to estimate about the monthly payments based on the amount of loan, tenure as well as interest rate.

Step 3: Once check EMI and eligibility you just need to fill the application form online. In that you need to provide personal details, employment details as well as financial details.

Step 4: After fill the online application form the next step is about to upload the required documents. You need to submit scanned document copies of KYC details, income proof details as well as other necessary documents.

Step 5: Once documents are submitted to website need verification. After verify by the bank, a representative of them will approve the loan within a shorter time period.

Step 6: Approve loan by the representative; then the amount of loan will be credited to the bank account of applicant within 24 to 72 hours.

Bandhan Bank Personal Loan EMI Calculator

Now, we are going to write the formula of Bandhan Bank Personal Loan EMI Calculator which helps to borrowers for estimate monthly installments.

So, here is the formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Int that,

• P = Principal Loan Amount
• R = Monthly Interest Rate (Annual Rate / 12)
• N = Loan Tenure in Months

Let’s understand this with an example:

• The Amount of Loan= Rs.5,00,000 (P)
• Interest Rate= 12% per annum or 1% per month (R)
• Tenure= 5 years or 60 months (N)

EMI = [5,00,000 × 0.01 × (1+0.01)^60] / [(1+0.01)^60-1] ≈ ₹11,122

Bandhan Bank Personal Loan Customer Care

At the time of checking and applying for Bandhan Bank Personal Loan applicant has too many queries regarding the loan. So, here different ways to connect with the representative of Bandhan bank.

• For the Toll-Free Number dial 1800-258-8181 and connect to them.
• For writing an Email: customercare@bandhanbank.com click here.
• Or you can visit the branch from Branch Locator: Visit Here.

FAQs