AU Bank Personal Loan Interest Rates

The AU Small Finance Bank offers personal loans up to ₹10 lakh with flexible repayment options ranging from one to five years. It offers a variety of solutions for multiple financial requirements with an interest rate as high as 30% per annum. In addition, the bank offers easy pre-approved personal loans for its existing customers at a convenient interest rate with no documentation requirements. Customers at royale enjoy increased credit rates, among other perks. The bank facilitates easy borrowing with a guarantee that online loan requests will be promptly disbursed.

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AU Bank Personal Loan Interest Rate Scheme

AU Small Finance Bank has not specified any particular interest rates for personal loans, as rates vary based on the application profile. However, the highest interest rate can start from 11% and reach up to 30% per annum in some cases. The bank gives a great advantage to the existing customers! You can enjoy pre-approved loans with attractive terms which also include lower interest rates and minimal documentation. Additionally, the most premium clients of AU bank get additional benefits like reduced processing fees and preferential interest rates.

Interest rates	Based on customer profile
Loan amount	Up to ₹10 lakh
Loan tenure	1 to 5 years
Minimum age	23 years
Processing fee	Up to 4% of the loan amount

(Source: paisabazaar.com/personal-loan/au-small-finance-bank/)

AU Small Finance Bank Personal Loan Interest Rates vs Other Banks

The table below highlights the interest rates provided by various banks, allowing you to compare and choose the best option for your needs. It's important to note that the interest rate you qualify for will be influenced by the bank's policies and your individual credit profile. AU Bank offers personal loans with interest rates that can reach up to 30% per annum, depending on your financial profile. Note: All the interest rates are as of January 2025. For latest interest rates, please refer to the bank’s website.

Banks	Interest rates
HDFC Bank	10.85% onwards
State Bank of India	11.45% onwards
Axis Bank	11.25% onwards
Kotak Mahindra Bank	10.99% onwards
IndusInd Bank	10.49% onwards
Bandhan Bank	9.47% onwards
ICICI Bank	10.85% onwards
IDFC Bank	10.99% onwards
Canara Bank	10.95% onwards
Federal Bank	12% onwards
Punjab National Bank	10.40% onwards
Union Bank of India	11.35% onwards
Indian Bank	10% onwards
Yes Bank	11.25% onwards
Bank of India	10.85% onwards
Bank of Baroda	11.05% onwards
IDBI Bank	11% onwards

Source: paisabazaar

AU Bank Personal Loan Interest Rate Characteristics

The AU Bank provides you a personal loan by carefully analysing your profile and then provides you an interest rate which will decide your monthly EMI. However, the interest rate is decided on several factors which you always keep in mind. Let’s have a look at some:

Credit score: A higher credit score can result in a lower interest rate, a CIBIL score of more than 750 is considered to be good.

Income Level: If you have a higher income, then you can easily benefit from a reduced interest rate as this reflects a better ability to repay the loan on time.

Loan Tenure: The duration of the loan also plays a major role in determining the interest rate. Usually, shorter tenures might attract slightly lower rates compared to longer ones, although this can vary based on the bank's current policies.

AU Small Finance Bank Personal Loan Interest Rates 2024

This year, AU Bank’s interest rates for personal loans are likely to be influenced by the prevailing economic circumstances and financial market conditions. On a broad range, the rates can be anywhere between 11.00% to 30.00% per annum. However, these rates may vary based on shifts in the Reserve Bank of India’s monetary policy, inflation rates, and other macroeconomic factors.

If you are planning to get a personal loan, then it is advised that you stay updated on any changes to interest rates by checking the bank’s official announcements or consulting with a bank representative. Additionally, seasonal promotions or special offers may be available, providing temporary discounts on standard rates.

AU Small Finance Bank Personal Loan Fees and Charges

While providing you a personal loan, the AU Bank charges certain fees and processing charges. Let’s have a closer look at them:

Processing Fee: Up to 4% of the approved loan amount, plus applicable taxes.
Administration and Documentation Charges: None.
Stamping Charges: As per the regulations of the respective State's Stamp Act.
Overdue Interest: 3% per month on the outstanding amount.
Prepayment/Foreclosure Charges:

If the loan is paid off before 12 months from the date of the last disbursement, a fee of 5% of the outstanding balance at the time of closure will apply.
If the loan is settled after 12 months from the last disbursement date, a fee of 3% of the outstanding balance at the time of closure will be charged.

The major reasons for these charges are to cover various aspects of loan processing and management.

AU Small Finance Bank Personal Loan Eligibility Requirements

In order to get your personal loan application approved from AU Small Finance Bank, you need to meet the following eligibility criteria:

Residency: You must be an Indian citizen.
Age: Applicants should be at least 23 years old when applying for the loan and no older than 60 years by the time the loan matures.
Loan Tenure: Personal loans are available with a minimum repayment period of 12 months and a maximum of 5 years.
Loan Amount: You can apply for a personal loan with a sum of up to ₹10,00,000.

Documents Needed for AU Small Finance Bank Personal Loan

Applying for a personal loan with AU Small Finance Bank involves a rather simple and easy documentation process. The primary requirement is that you need to have an Aadhaar card linked to your mobile number. This linkage facilitates a faster loan disbursement process.

AU Small Finance Bank Personal Loan Eligibility Requirements

To qualify for a personal loan from AU Small Finance Bank, you need to ensure that you fulfil the eligibility criteria set by the bank. Let us have a look at the criteria:

Residency: You must be an Indian citizen.

Age: In order to apply for the personal loan, you need to be at least 23 years old when applying for the loan and no older than 60 years by the time the loan matures.

Loan Tenure: The minimum repayment period for personal loans is of 12 months and a maximum of 5 years.

Loan Amount: You can apply for a personal loan with a sum of up to ₹10,00,000.

AU Small Finance Bank Personal Loan EMI Calculator

The AU Bank Personal Loan EMI Calculator is a tool that helps you determine your monthly instalment for loan repayment. This calculator is extremely easy to use! All you need to do is simply enter three key details: the loan amount, interest rate, and loan tenure. With this, you can quickly calculate your monthly payment within seconds. As a result, you can better manage your finances. Additionally, This helps you understand the appropriate loan tenure to achieve an EMI that fits your budget comfortably.

(https://www.aubank.in/personal-banking/emi-calculator/personal-loan-calculator)

Factors Affecting AU Bank Personal Loan Interest Rate

There are several factors which influence the AU bank personal loan interest rate, some of which are explained below:

Credit Score: In general, the lower interest rates are linked with the better credit scores. The good borrowers are most likely to get a good rate from the lenders, as a good credit score reflects the creditworthiness of a person.
Income and Employment: A borrower who has had a stable employment and income record may qualify for lower interest rates. The two factors are considered by the lenders as indications of a borrower's ability to repay the loan.
Loan Amount and Term: Interest rates are also affected by the loan amount and term. Higher rates may be the consequence of larger loan amounts or longer loan terms, which represent the lender's assessed risk.
Market Conditions: External economic variables include inflation rate and the general market condition that could affect the interest rates.

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AU Small Finance Bank Personal Loan Interest Rate FAQs

How is the interest calculated for a ₹5 lakh loan?

If you decide to take a personal loan of ₹5,00,000 at an interest rate of 11% per annum for 3 years, the interest for the first month would be calculated as follows: Interest for the first month = ₹5,00,000 × (0.11 / 12) = ₹4,583.33. So, the interest for the first month on a ₹5 lakh loan at 11% per annum is approximately ₹4,583.33.