Piramal Finance Personal Loan

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Piramal Finance, also known as Piramal Capital and Housing Finance Ltd., provides personal loans starting from 12.99% per annum. You can borrow up to Rs 10 lakh with a repayment period of up to 5 years. This housing finance company offers instant personal loans for various needs like weddings, travel, home renovation, and debt consolidation. Applying for a Piramal Finance Personal Loan is easy with minimal paperwork, and you can get the funds quickly. Additionally, Piramal Finance has teamed up with mybankingtips.com to offer pre-approved personal loans to selected customers.

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Piramal Finance

Max. Loan Amt.

Up to ₹50L

Rate of Interest

12.99%

Tenure up to

Upto 5 Years

Processing Fee

Up to 4%

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Piramal Finance Personal Loan Interest Rates

Piramal Finance Personal Loan rates begin at 12.99% per year. While specific details about how they determine rates based on factors like credit scores, monthly income, job type, and employer aren't openly shared, many lenders usually consider these aspects when deciding the interest rates for their borrowers.

Piramal Finance Personal Loan Highlights

Interest Rate 12.99% p.a onwards
Loan Amount Up to Rs 50 lakh
Loan Tenure Up to 5 years
processing Fees Up to 4% of total loan amount + applicable taxes (payable before loan disbursement)

Note: Interest rates as on 13 December 2024

Banks/NBFCs Interest Rates(p.a.)
Axis Bank 10.49% onwards Apply Now
IndusInd Bank 10.49% onwards Apply Now
IDFC First Bank 10.49% onwards Apply Now
HDFC Bank 10.50% onwards Apply Now
ICICI Bank 10.50% onwards Apply Now
Kotak Mahindra Bank 10.99% onwards Apply Now
Tata Capital 10.99% onwards Apply Now
Bajaj Finserv 11.00% onwards Apply Now
Federal Bank 11.49% onwards Apply Now
DMI Finance 12.00% - 40.00% Apply Now
L&T Finance 12.00% onwards Apply Now
Kreditbee 12.25% - 30.00% Apply Now
MoneyTap 12.96% onwards Apply Now
Piramal Finance 12.99% onwards Apply Now
Aditya Birla 13.00% onwards Apply Now
MoneyView 15.96% onwards Apply Now
Cashe 27.00% onwards Apply Now

Also read: Best Personal Loan Interest Rate

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Here are the processing fees and other charges associated with Piramal Finance Personal Loans:

Processing Fees

Loan Product Interest rates (p.a.)
Processing Fee Up to 4% of total loan amount + applicable taxes (payable before loan disbursement)
Application/login processing fees (Non-refundable) Rs 3,500 + applicable taxes

Prepayment/Foreclosure Charges

Loan Product Interest rates (p.a.)
Processing Fee Up to 4% of total loan amount + applicable taxes (payable before loan disbursement)
Part-prepayment / pre closure charges
  • For business purposes availed by individual(s) at floating/fixed interest rates: 4% of principal amount of loan being prepaid + applicable taxes.
  • For purposes other than business availed by individual(s) at fixed/floating interest rates: Nil.
  • Availed by non-Individual at fixed/floating interest rates: 4% of total principal loan amount being prepaid + applicable taxes
Default interest rates 2% per month on default of PEMII/EMI from date of default till date of actual payment.
Application/login processing fees (Non-refundable) Rs 3,500 + applicable taxes

Other Charges for availing personal loans from Piramal Finance

Loan Product Interest rates (p.a.)
Default interest rates 2% per month on default of PEMII/EMI from date of default till date of actual payment.
Rate of Interest conversion charges 0.50% of the Loan outstanding + applicable taxes
Instrument dishonor charges for loan repayment Rs 500 plus applicable taxes
CERSAI charges Rs 500 plus applicable taxes
Loan Pre-closure Statement Rs 1,000 plus applicable taxes
List of documents deposited with the lender Rs 1,000 plus applicable taxes
Repayment schedule (applicable only for physical copies) Rs 500 plus applicable taxes
Change of loan repayment mode Rs 500 plus applicable taxes
Loan cancellation after cheque handover Interest accrued & due + applicable taxes

Also read: Best Personal Loan in India

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Personal Loan for Emergency

  • Purpose: The lender, Piramal Finance, offers personal loans to applicants for both planned medical expenses and unexpected medical emergencies. Once approved, the loan is disbursed within 2 days.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Personal Loan for Marriage

  • Purpose: Piramal Finance provides personal loans for handling wedding expenses. The loan processing is quick, and you can expect the funds to be disbursed within 3 to 4 working days.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Personal Loan for Women

  • Purpose:  Piramal Finance offers personal loans specifically for women to support various financial needs, such as weddings, travel, higher education, debt consolidation, business expenses, or unforeseen emergencies.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Personal Loan for Travel

  • Purpose: Piramal Finance provides personal loans for travel expenses, ensuring fast processing and disbursal within 24 hours for eligible loan applicants.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Personal Loan for Salaried

  • Purpose:  The lender offers personal loans to employed individuals for personal or business expenses, ensuring quick loan approval and disbursal for those who are pre-approved.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Personal Loan for Students

  • Purpose: The lender offers personal loans to students to manage their education related expenses.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Personal Loan for Debt Consolidation

  • Purpose:  Piramal Finance provides personal loans for debt consolidation, helping applicants combine multiple credit card or loan commitments into one. This personal loan option from Piramal Finance allows individuals to lower their interest costs and streamline the management of EMIs and due dates for existing loans.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Personal Loan for Pensioners

  • Purpose: The lender gives personal loans for retirees to help with their money matters like medical bills, travel, children's weddings, and everyday expenses.
  • Interest Rate: 12.99% p.a. onwards
  • Loan Amount: Rs 1 lakh to Rs 10 lakh
  • Tenure: Up to 5 years

Also read: Best Personal Loan Status

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Here are the eligibility criteria for individuals applying for Piramal Finance Personal Loans:

Personal Loan for Marriage

1. Salaried applicants must be aged between 21 to 60 years and should have a minimum work experience of 1 year.

2. For Piramal Finance Marriage Loans, applicants with a credit score of 750 and above have better chances of approval.

3. The minimum monthly income required for both Piramal Finance Marriage Loans is Rs 25,000.

Personal Loan for Travel

1. Applicants must be aged 21 years and above with a minimum work experience of 6 months.

2. Those with credit scores of 750 and above are more likely to be approved for Piramal Finance Personal Loans.

3. The minimum monthly income required for applicants seeking Piramal Finance Personal Loans for Travel is Rs 25,000.

4. Existing customers of Piramal Finance can benefit from pre-approved personal loans from the lender.

Personal Loan for Emergency

1. Eligibility is open to prospective loan applicants aged 21 years and above.

2. Those applying for Piramal Personal Loans specifically for medical emergencies must have a minimum monthly income of Rs 25,000.

Personal Loan for Pensioners

1. For Government Pensioners:

  • The pensioner should be aged 76 years or below.
  • Possession of a well-maintained pension payment order.
  • The guarantor for this loan can be any third party or the applicant’s spouse (family pensioner).

2. For Family Pensioners:

  • The family pensioner should be aged 76 years or below.
  • Authorization to receive the pension after the death of the original pensioner.
  • Access to the pension account details is necessary.

3. For Defence Practitioners:

  • The loan applicant should be a pensioner of the Indian Armed Forces (Army, Navy, or Air Force).
  • The applicant should be aged 76 years or below at the time of loan application.
  • A well-maintained pension payment order is required.

Personal Loan for Women

1. Salaried applicants must be aged between 21 to 60 years and possess a minimum work experience of 1 year.

2. Applicants with credit scores of 750 and above are more likely to be approved for this loan facility.

3. The minimum monthly income required for both loan applicants availing Piramal Finance Marriage Loan is Rs 25,000.

Personal Loan for Salaried

1. Salaried applicants must be Indian residents.

2. Applicants should be aged between 21 to 60 years and have a minimum work experience of 1 year.

3. Those with credit scores of 750 and above are more likely to be approved for this loan facility.

4. The minimum monthly income required for both loan applicants availing Piramal Finance Personal Loan for Salaried is Rs 25,000.

Personal Loan for Students

1. Loan applicants must be Indian residents and should not have any outstanding education loans.

2. The course pursued should be approved by the Indian government, UGC, or AICTE.

3. The loan applicant should have secured at least 50% marks in both board examinations and the graduation course.

Also read: Best Personal Loan Eligibility

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The documents required for applicants seeking Piramal Finance Personal Loans include:

1. PAN card (mandatory) 2. Passport-sized photograph 3. Identity proof (choose one): Aadhaar, Driving License, Voter’s Identity Card, Passport 4. Address proof (choose one): Aadhaar, Driving License, Voter’s Identity Card, Passport, utility bills (telephone, electricity, etc.) 5. Income documents for salaried professionals: Salary slips and Form 16 6. Income documents for self-employed professionals: Income Tax returns, Profit & Loss statements, and Balance Sheet 7. Pension account statement and pension payment order (for pensioners) 8. Bank statements from the last 6 months

Documents Required for Personal Loan for Students

1. Demand letter from the University 2. Copy of the admission letter 3. Mark sheets for 10th & 12th standard and college 4. Bank statements for the last 6 months 5. Proof of identity 6. Proof of address 7. Proof of income 8. Loan agreement signed by the applicant and co-applicant 9. Disbursement request form (signed by the applicant and co-applicant)

Also ReadBest Personal Loan Documents Required

EMI Calculator

Also read: Best Personal Loan EMI Calculator

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1. Does my credit score affect my chances of getting a personal loan from Piramal Finance?

Piramal Finance looks at the credit scores of people applying for personal loans when deciding whether to approve their loan requests.

Also read: Best Personal Loan Balance Transfer

2. What is the minimum salary for personal loan in Piramal Finance?

To get a Piramal Finance Personal Loan, you need a minimum monthly salary of Rs 25,000. However, the lender hasn't specified the minimum income needed for Personal Loans for Pensioners and Students.

Also read: Best Personal Loan Salaried Employees

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