AU Bank Personal Loan
Customers can obtain personal loans up to ₹10 lakh from AU Small Finance Bank by selecting a payback period ranging from one to five years. AU Small Finance Bank extends pre-approved personal loans with beneficial interest terms as well as minimal documentation requirements to their selected group of current client base. Purchase clients of Royale gain access to specialized discounts on processing expenses and access to low-cost interest rates. The online application service at AU Small Finance Bank leads to efficient authorization and quick payment processes. AU Small Finance Bank offers financial support for all major purposes such as travel expenses and house maintenance and medical emergencies and provides interest rates up to 30% p.a.
Highlights of AU Small Finance Bank's Personal Loan Offerings
- Loan Amount: Borrowers can secure up to ₹10 Lakhs.
- Repayment Tenure: The loan can be repaid over a period ranging from 1 year to 5 years.
- Minimum Age Requirement: Applicants must be at least 23 years old.
- Processing Fee: The bank charges a processing fee of up to 4% of the sanctioned loan amount.
Key Features of AU Small Finance Bank Personal Loan
Pre approved loan
Client approval for individual loans becomes available when they submit small or no documentation.
Exclusive benefits
As exclusive Royale members you gain both rate discounts on interest charges and processing expenditure reductions.
Quick approval
Users benefit from fast application processing since online loans grant them immediate disbursement.
No security
Personal loans remain unsecured hence borrowers can obtain these funds without providing any collateral.
Competitive interest
The interest rate for personal loans at Fullerton India starts at 30% annually while offering additional options based on the individual profile up to higher amounts.
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 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
AU Small Finance Bank Personal Loan Interest Rates vs Other Banks
| Bank | Interest rate |
|---|---|
State Bank of India | 11.45% onwards |
HDFC Bank | 10.85% onwards |
Bank of Baroda | 11.15% onwards |
Axis Bank | 11.1% onwards |
ICICI Bank | 10.85% onwards |
IDFC Bank | 10.99% onwards |
IndusInd Bank | 10.49% onwards |
PNB Bank | 11.15% onwards |
Union Bank of India | 11.50% onwards |
Yes Bank | 11.25% onwards |
Bank of India | 10.85% onwards |
Canara Bank | 10.70% onwards |
Kotak Mahindra Bank | 10.99% onwards |
Bandhan Bank | 9.47% onwards |
Federal Bank | 11.49% onwards |
Indian Bank | 10.75% onwards |
IDBI Bank | 11.00% onwards |
Source: Bank’s website
AU Small Finance Bank Personal Loan Fees and Charges
Here is a detailed breakdown of the costs you may incur:
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.
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 be eligible 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.
Calculate EMI on Personal Loan
Loan Amount
₹
Rate of Interest
%
Loan Duration
Months
