AU Bank Personal Loan

AU Small Finance Bank provides personal loans with a range of benefits and flexible options. Individuals can access loans of up to 10 Lakhs, with the repayment period stretching from 1 to 5 years. The bank’s personal loan offerings are designed to cater to various financial needs with quick disbursal processes, particularly for online applications.

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    Highlights of AU Small Finance Bank's Personal Loan Offerings

    1. Loan Amount: Borrowers can secure up to 10 Lakhs.
    2. Repayment Tenure: The loan can be repaid over a period ranging from 1 year to 5 years.
    3. Minimum Age Requirement: Applicants must be at least 23 years old.
    4. Processing Fee: The bank charges a processing fee of up to 4% of the sanctioned loan amount.

    Features of AU Bank Personal Loan

    Simplified Digital Process

    The loan application process is structured into five easy digital steps, allowing for a straightforward and convenient experience.

    No Collateral Required

    These personal loans do not require any form of collateral or a guarantor, alleviating the need for additional security or endorsements.

    Minimal Documentation

    The application process is designed to be hassle-free with minimal paperwork, making it easier to apply for and obtain a loan.

    Flexible Repayment Terms

    Borrowers can select a loan tenure ranging from 12 to 60 months, providing a range of options to fit various financial situations and repayment preferences.

    Advantages of AU Small Finance Bank Personal Loans

    Attractive Interest Rates

    AU Small Finance Bank provides personal loans with a reduced interest rate structure, meaning the rate decreases over the loan term, which can result in lower overall costs.

    Convenient Loan Management

    Loan management is simplified with AU Small Finance Bank, allowing customers to handle their personal loans easily online from any location.

    Debt Consolidation Option

    For those looking to streamline their finances, AU Small Finance Bank offers personal loans that can consolidate multiple high-interest debts into a single, more manageable loan with a competitive interest rate.

    Pre-Approved Loan Offers

    Existing customers may benefit from pre-approved loan offers, which can come with favourable interest rates and reduced documentation requirements.

    Exclusive Benefits for Royale Customers

    Customers with Royale accounts can take advantage of preferential processing fees and interest rates, enhancing the overall value of their loan experience.

    AU Small Finance Bank Personal Loan Fees and Charges

    Here is a detailed breakdown of the costs you may incur:


    Employment Status: 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.


    These charges are designed to cover various aspects of loan processing and management.


    Documents Needed for AU Small Finance Bank Personal Loan

    Applying for a personal loan with AU Small Finance Bank involves a streamlined documentation process. The primary requirement is that applicants must have their Aadhaar card linked to their 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, applicants must meet the following 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.


    AU Small Finance Bank Personal Loan Interest Rates vs Other Banks

    Interest RatesRange (p.a.)
    Bandhan Bank9.47% onwards
    Navi 9.90% – 45.00%
    Indian Bank10.00% – 15.05%
    PNB10.40% – 16.95%
    HDFC10.75% onwards
    ICICI 10.85% onwards
    Bank of India 10.85% – 14.85%
    Canara Bank 10.95% – 16.40%
    IDFC10.99% – 23.99%
    Tata Capital10.99% onwards
    Yes Bank 10.99% onwards
    BOB 11.15% – 18.75%
    Axis Bank 11.25% onwards
    SBI 11.35% – 15.50%
    Union Bank 11.35% – 15.45%

    (Source: Bank Websites)

    AU Small Finance Bank Personal Loan Interest Rates

    AU Small Finance Bank does not publish specific interest rates for its personal loans. The rates are influenced by various factors related to the applicant's profile. Typically, these factors include the credit score, income level, employment status, and the nature of the employer. Interest rates can be as high as 30% per annum, reflecting the tailored approach based on individual profiles.
    For existing customers, AU Small Finance Bank offers pre-approved loans with favourable terms, including reduced interest rates and minimal documentation. Royale customers, a premium category of bank clients, enjoy additional benefits such as lower processing fees and preferential interest rates.
    Whether you are an existing customer or a new applicant, AU Small Finance Bank ensures a streamlined and efficient loan process, particularly through their online application system which facilitates quicker loan disbursal.



    AU Small Finance Bank Personal Loan EMI Calculator

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


    Calculate EMI on Personal Loan

    Loan Amount

    ₹10k
    ₹20 Lakh

    Rate of Interest

    %

    1%
    30%

    Loan Duration

    Months

    3 Months
    72 Months
    Monthly EMI
    ₹0
    Loan Amount:
    ₹10,000
    Total Interest:
    ₹0
    Total amount:
    ₹0
    Get Instant Loan Offer

    EMI Payment Schedule

    Month
    Principal Paid
    Interest Charged
    Total EMI Payment
    Loan Balance

    AU Small Finance Bank Personal Loan FAQs

    No, personal loans do not provide any tax benefits.

    The minimum loan amount you can get from AU Small Finance Bank is ₹25,000.

    No, AU Small Finance Bank does not require any collateral for a personal loan.

    To get a personal loan quickly, apply online. Start by checking your eligibility and use an online EMI calculator to understand your affordability. Complete the online application and submit the required documents. Once the verification process is complete, the loan amount will be disbursed to your bank account promptly.

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