Bandhan Bank Personal Loan Interest Rate

Personal loans from Bandhan Bank have up to five years of tenure with a minimum interest rate of 9.47% per annum on loans up to ₹25 lakh. Once loan documents are submitted, the bank assures that there will be instant disbursal within two working days, thus giving instant access to money.

Every consumer has loan opportunities that are according to his taste, either meant for personal consumptions or monetary needs. To ensure that loans are smooth in borrowing, here are some aspects of Bandhan Bank loans as follows: lower interest rates available, flexible paying terms, minimum documentation.

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Bandhan Bank Personal Loan Interest Rate Characteristics

The loan amount could range between ₹50,000 to ₹25 lakh.
Flexible repayment tenure can go up to 60 months:
Faster loan processing time with door step document pick up process:
Quick loan processing:
Part payment feature
Nil foreclosure charges on loan amount ₹10 lakh and above:

Bandhan Bank Personal Loan Interest Rate Fees and charges

For salaried employees:

Rates start at 11.55 per cent per annum (up to 3 years)

Rates start at 9.47 per cent per annum (more than 3 years)

Self-employed professional:

Rates start at 12.55 per cent per annum (up to 3 years)

Rates start at 10.10 percent per annum (more than 3 years)

(These rates were effective from Aug 1, 2024)

Bandhan Bank Personal Loan Eligibility

Minimum age for salaried individuals: 21 years
For self-employed: 23 years
Maximum age: At time of maturity - 60 years for salaried
65 years for self-employed
In case of salaried employees: Minimum 1 customer induced transaction is required in salary account on monthly basis
Self-employed: Minimum one debit and two credit transactions (customer induced) required on monthly basis or 12 credit transactions in the last 12 months (In main account only).

Documents required

A. Identity and address proof: Passport/driving license/proof of possession of Aadhaar number/voter’s identity card /job card issued by NREGA duly signed by an officer of the state government/letter issued by the National Population Register containing details of name and address.

B. One recent photograph.

C. Last three months’ salary slip and salary account statement for salaried

D. ITR with computation and last 12 months main business account statement for self-employed.

Bandhan Bank Personal Loan EMI Calculator

In order to calculate the EMIs, borrowers can use the personal loan EMI calculator. In an EMI calculator, one has to enter three key details: rate of interest, overall loan amount and loan tenure.

Interest rate: It is the fixed rate of interest at which you are supposed to return the loan. Let us suppose, it is 10 percent.
Loan amount: This is the total amount of loan that you have borrowed. Let us suppose, it is ₹15 lakh.
Loan tenure: This is the tenure of a loan. Let us suppose, it is 5 years.

When you enter these details into the calculator, you will be able to ascertain the monthly EMI that you need to pay in order to repay the debt.

Loan amount: ₹15 lakh
Interest rate: 10%
Loan tenure: 60 months

In the above-mentioned illustration, the monthly EMI will come to be ₹31,870.

https://www.livemint.com/loans/bandhan-bank-personal-loan-emi-calculator

Calculate EMI on Personal Loan

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Rate of Interest

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Tenure

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Monthly EMI

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Loan Amount:

₹1,00,000

Total Interest:

₹0

Total amount:

₹0

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Other banks’ Personal Loan Interest Rates for Bandhan Bank

The table below highlights the interest rates provided by various banks, allowing you to compare and find the best option for your requirements. Please note that the rate you receive will be determined by the bank's policies and your overall credit profile. Bandhan Bank offers personal loans with interest rates starting at 9.47% per annum, depending on your credit 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
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
AU Bank	Up to 30%

Source: paisabazaar

Factors Affecting Bandhan Bank Personal Loan Interest Rate

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

Credit Score: Clients whose credit score is 750 and above will fall in the category of low-risk borrowers. Because the chances of default become lesser with good credit scores, like all the other lenders, Bandhan Bank provides them the benefit of offering relatively lower interest rates.
Stability of Income: The bank can be more certain of your payback if the income is more stable and the amount is considerably high. The salaried person with his fixed monthly pay may be allowed to negotiate at a higher rate than the person who has erratic income sources.
Loan Amount: As they pose more threat, higher amounts of loans can attract higher interest rates. It is a fact that while loan duration and the amount of loan should be balanced, increasing the payback duration can reduce the interest rates, but increases the EMI.
Repayment Tenure: Since the bank's funds are tied down for a lesser duration, shorter tenures usually lead to lower rates of interest and a lower risk profile. Still, with higher EMIs, not all borrowers might be able to afford them.

Personal Loan Quick Links

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Bandhan Bank Personal loan Interest Rates FAQs

What are different purposes for which a personal loan is raised?

A personal loan is an unsecured loan that is typically raised for meeting an unanticipated and large expense such as for home renovation, foreign travel, medical emergency or a wedding celebration.

What are the documents required for Bandhan Bank personal loan?

A. Identity and address proof: Passport/driving license/proof of possession of Aadhaar number/voter’s identity card B. One recent photograph C. Last three months’ salary slip and salary account statement for salaried D. ITR with computation and last 12 months main business account statement for self-employed.

What are the details you require in order to compute Bandhan Bank personal loan EMI?

To compute Bandhan Bank personal loan EMI, you require these three details: interest rate, Loan amount and loan tenure.

What are the eligibility criteria for employed and self-employed professionals?

In case of salaried employees, there should be a minimum one customer induced transaction is required in the salary account on a monthly basis. In the case of self-employed, there should be a minimum one debit and two credit transaction (customer induced) required on a monthly basis or 12 credit transactions in the last 12 months.

What are the interest rates charged by Bandhan Bank from salaried employees and self-employed professionals?

For salaried employees, interest rates range between 9.47 to 11.55 per cent. For self-employed professionals, interest rates range between 10.10 to 12.55 per cent per annum.