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Piramal Finance is a leading NBFC offering various loan products to individuals and SME businesses at affordable interest rates. It is registered as a Housing Finance Company (HFC) under the National Housing Bank (NHB). They have loan products including home loans, business loans, personal loans, used car loans, and corporate financing. They boast of 18k+ strong customer base which is strongly growing and have disbursed loans to the tune of Rs.1250Cr+.
One of Piramal Finance’s leading loan products is their Personal Loan product which comes at an affordable interest rate of 12.99%* and offers up to Rs.5 lakhs instant loan to eligible candidates.Piramal Finance Personal Loans – Key Features
Personal Loan Features | Description |
|---|---|
Loan Amount | Rs.25,000 – Rs.5 lakhs |
Interest Rate | Starting at 12.99%* p.a. |
Repayment tenure | Up to 60 months (about 5 years) |
Processing fees | Up to 5% of loan amount + taxes |
Partial pre-payment | 0 |
Pre-closure charges | 0 |
CIBIL™ Score requirement | 750 and above |
A personal loan is a much sought after loan product for many individuals who need quick cash to take care of an emergency or an unexpected large expense. Piramal Finance personal loans are preferred for their quick documentation and instant disbursal that would put money in your hands at the earliest.
Piramal Finance personal loans can be utilized for various needs like home improvement, wedding, travel, festival expenses, higher studies, and more.
1. Get loans of up to Rs.5 lakhs for various personal needs.
2. Low interest rates starting at 12.99% per annum make it an affordable choice.
3. Repay comfortably within 60 months (about 5 years) or less.
4. Make partial bulk pre-payments or pre-close the loan anytime without any charges.
5. Collateral free loans that don’t require any co-signee or guarantor
6. Customizable loan tenure and repayment options to allow comfortable repayment
7. Paper-less documentation for quick disbursal.
8. 100% secure online process
With such great features, Piramal Finance personal loans have attracted over 25,000 happy customers across various loan products.
Different Personal Loan products offered by Piramal Finance
Personal loans are versatile in nature allowing the borrower to utilize the funds for any personal use or emergency. Piramal Finance, in their quest to offer superior personal loan products to their customers, have designed custom personal loan products to suit your needs –
1. Home improvement loans – can be used for home renovation and home expansion.
2. Wedding loans – Indian weddings are a major affair, and these loans help you achieve your dream wedding.
3. Travel loans – for the wanderers. Take those long-awaited vacations in India or abroad with these loans.
4. Car loans – Flexible car loans to buy your dream car with easy repayment options.
5. Emergency loans – For that extra cash to meet hospital expenses that are not covered by your insurance.
6. Festival loans – With India celebrating festivals throughout the year, these loans help you bring happiness, prosperity and auspiciousness into your homes by helping those grand celebrations.
7. Loan for Women – Funds to empower women entrepreneurs with much needed funds to fuel their business dreams.
8. Loan for Salaried Employees – Quick and flexible loans to salaries employees for additional financial stability.
9. Education loans – Loans that take care of food, stay and other facilities during your higher studies, both in India and abroad.
10. Bike Loans – Own that high-end bike with these loans that offer instant approval and up to 100% financing.
Click here to learn about Piramal Finance Loan Against Property
What Are the Eligibility Criteria to Get Piramal Finance Personal Loans?
Piramal Finance personal loans are currently being offered to salaried employees, self-employed individuals, Pensioners/Senior Citizens, and women.
- Applicants should be at least 21 years of age, with the maximum age limit being 58 years.
- Personal loan applicants should be employed at public sector or private sector companies.
- Personal loans are given to applicants with at least 750 credit score.
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What Is the Process to Apply for Piramal Finance Personal Loans?
Piramal Finance boasts of a 100% fully digital personal loan application process that allows applicants to upload documents and KYC details online. This allows for quick processing and disbursal of the loan –
1. Piramal Finance Personal loan portal - https://www.piramalfinance.com/personal-loan
2. Once you have read all the features, benefits and eligibility requirements for the personal loan, simply click on ‘Apply Now’.
3. This takes you to the application processing page where you need to start the process by entering your 10-digit mobile number. Ensure to use the mobile number linked to your Aadhaar and bank account to allow for easier processing.
4. An OTP is sent for verification; after which you need to enter your PAN number. Your PAN number is mandatory for the loan processing so keep it handy.
5. The next step will be to input your income details so you can enter your monthly net income from salary, pension or business.
6. The next step is the important KYC verification process where you need to enter the required details and click a selfie on the phone within the loan application.
7. Post KYC verification, fill in your bank details & employment details.
8. The last step is the E-Mandate & E-Sign where you set up the auto pay options. And then you review your loan application, accept the terms & conditions and E-Sign Off the loan.
9. Within the next few minutes, if all the information and documents are in order, the loan amount is credited to the verified bank account.
What are the documents required to apply for Piramal Finance Personal Loans?
Piramal Finance personal loans come with hassle-free processing and minimal documentation. You just need to have the below documents handy –
1. KYC Documents – Approved list
PAN Card copy (mandatory)
Any one of the following –
- Aadhaar
- Driving license
- Voter’s ID
- Passport
- Utility Bill latest copy (Telephone or Electricity Bill)
Income Proof Documents – Upload your latest salary slip and last 3 months’ bank statement.
What Are the Fees & Charges Associated with Piramal Finance Personal Loans?
Piramal Finance personal loans offer nominal processing charges and other fees.
Interest Rate | Starting at 12.99% per annum |
Processing fees | Up to 5% of loan amount + GST |
Part pre-payment of loan | NIL |
Pre-closure of loan | NIL |
Stamp Duty | As per govt. norms |
Cash/Overdue EMI/PEMI Collection Charges | Rs.500 + GST |
EMI Date Change request | Rs.1000 + GST |
Cheque/NEFT Mandate Dishonor Charges | Rs.750 |
Loan cancellation (after disbursal/cheque issue) | Rs.3000 + Interest accrued + GST |
Disclaimer: The features, fees, process to apply, and all other information specified above are as of when this page was written and are subject to change. For exact information, contact the bank or refer to their website.
FAQs on Piramal Finance Personal Loans:
1. What are the repayment modes available to repay Piramal Finance personal loans?
Piramal Finance personal loans can be repaid via the NACH mandate.
2. What is the minimum credit score required to avail a Piramal Finance personal loan?
Applicants should have at least 750 credit score to avail themselves of this loan. If you have a lower credit score, here are a few tips to improve your credit score.
3. Can I track my Piramal Finance personal loans application status?
Yes, once you have applied for the loan, you can login to the Piramal Finance personal loans portal to track your application status.
4. Is it necessary to submit any documents hard copy in person for processing the Piramal Finance personal loans?
Not necessary. Piramal Finance personal loans application process is completely online. You must upload soft copies of the required documents during the application process. No need to submit any hard copies of the documents to anyone.
5. What is the minimum salary for personal loan in Piramal Finance?
For a personal loan with Piramal Finance, the minimum salary requirement is ₹15,000 or more. This ensures that applicants have a stable income to meet their repayment obligations.
Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.
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