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What is a Pune Loan?

A Pune Loan is a transaction where the lender gives money to the borrower, to be paid back with interest in EMI's.

Types of Pune Loans

Personal Loan, Home Loan, Car Loan, Loan against property, Gold loan, etc are various types of loans available in India.

How Bankbazaar helps you get a Pune loan?

Bankbazaar helps you compare & apply real time Pune loan rates & other fees from various banks.
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Pune Loan

salaried self employed NRI add co-applicant

Compare Loan Offers, Apply Online and Save Thousands of Rupees

 
  • HOME LOAN
    Interest rate: 10.50% onwards
    Max funding: upto 85% of home price
    Online application & E-approval!
    Select
  • PERSONAL LOAN
    Interest rate: 14.25% onwards
    Maximum funding: upto 15 lakhs
    Online application
    Select
  • CAR LOAN
    Interest rate: 10.50% onwards
    Max funding: upto 85% of car price
    Online application & E-approval!
    Select
  • HOME LOAN
    Interest rate: 10.75% onwards
    Max funding: upto 85% of home price
    Online application & E-approval!
    Select
  • HOME LOAN
    Interest rate: 10.50% onwards
    Max funding: upto 90% of home price
    Online application & E-approval!
    Select
  • CAR LOAN
    Interest rate: 11.25% onwards
    Max funding: upto 90% of car price
    Online application!
    Select
  • PERSONAL LOAN
    Interest rate: 21% onwards
    Maximum funding: upto 10 lakhs
    Online application
    Select
 
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Pune Loan Overview

Check Pune Loans offers online

A loan is a financial transaction in which one party (the lender) agrees to give another party (the borrower) a certain amount of money with the expectation of total repayment. The specific terms of a loan are often spelled out in the form of a promissory note or other contract. The lender can ask for interest payments in addition to the original amount of the loan (principal). The borrower must agree to the repayment terms, including the amount owed, interest rate and due dates. Some lenders can also assign financial penalties for missed or late payments.

Pune Loan Types:
  • Personal Loan
  • Home Loan
  • Car Loan
  • Gold Loan
  • Loan against Property

Pune Loan FAQs

  1. What are the interest rates for Pune Loans?
    Each bank will have different Interest rates. Interest rates will also vary depending on each individual’s eligibility criteria’s. Typically Interest rates start at 12% and can go up to 28%.

  2. How much money am I eligible for?
    You can borrow as much as you can repay. This in banking terms would mean a Loan that has an EMI that does not exceed 40% of your monthly take home income, where the EMIs for existing loans are also deducted.
    For self-employed applicants, profit is the benchmark that determines loan value. The longer the time frame for repaying the loan the lower the EMI and this also means you can opt for a larger loan amount. The loan amount you are eligible for is also dependent on other factors like the company you are employed with, the location of your residence and your credit history.

  3. Can I have a co-applicant for a Pune Loan?
    Yes, you can opt for a co-applicant. This can help you increase the loan amount you are eligible for as the income of the co-applicant is also taken into consideration.

  4. What is credit history? How does a financial institution check on my credit history?
    A credit history is basically a record of your past repayments of loans and credit card bills. Also, there is a central bank of data available with the Credit Bureau of India Limited (CIBIL), where data from all the banks on existing loans and their repayment patterns of their customers are accumulated. Before approving your loan a financial institution always checks with CIBIL on your loan repayment track record.

  5. How can I compare quotes from multiple banks?
    One of the easiest ways to do this is to compare online. Find your Loan at BankBazaar.com to gain instant access to the best quotes from various lenders.

  6. What does prepayment charge mean? Does it matter while comparing loans?
    A Loan is repaid to the lender within a fixed time frame, which is usually 1 to 5 years. In case you want to clear the loan payment earlier than the agreed time frame, the bank levies a prepayment penalty charge. This could be up to 5% of the outstanding loan amount but can vary according to the bank and the credit profile of the borrower. Make sure the interest saved by pre-paying exceeds the prepayment fee paid. This is one of the factors to keep in mind while comparing loans.

  7. What is the difference between a fixed interest rate and floating interest rate?
    A fixed interest rate remains constant throughout the loan tenure regardless of the market conditions whereas a floating interest rate can decrease or increase depending on market fluctuations. For instance, it increases when RBI hikes up short term interest rates. Banks usually quote the floating rate loans as their index rate (prime lending rate) plus or minus x%. Banks usually increase or decrease their prime lending rate when the RBI increases or decreases short term interest rates.

  8. Does Bank Bazaar charge me for its services?
    BankBazaar’s services come to you free of charge.

  9. How will the security and privacy of my data be ensured?
    BankBazaar will never share your data with any third party other than the financial institution that you decide to apply to. Our sound technology practices ensure a highly secure environment for all your data.

Pune Loan Eligibility & Documentation

Check Pune Loans offers online

Pune Loan Eligibility: You are eligible for a loan if you are:
  • Salaried individual
  • Self employed individual
  • Self employed professional like doctor, lawyer, etc.
  • Aged above 18 years
  • Have a good CIBIL credit score
  • Good repayment capacity with fixed & stable income source
  • Overall banks rating for the company you work for
  • Try our Personal Loan eligibility Calculator to check how much loan amount you are eligible for.

Pune Loan documentation: Pune loan documentation process is minimal and generally banks require the following document:
  • Identity proof (Pan card, Passport, etc.)
  • 3 to 6 months bank statement (if salaried then bank statement of your salary account)
  • Residence proof (rent agreement, property document, ration card, etc)
  • Salary Slips
  • In case of self-employed banks require balance sheets, profit & loss account, partnership deed & other documents etc.

Pune Loan Interest RatesUpdated on 22 May 2012

Details of Pune Loan

Personal Loan Interest Rate
(Monthly reducing balance)
14.25% to 49% fixed. Check Customized Interest Rates Now!
Processing Fees
1% to 5% of loan amount
Personal Loan Tenure
1 year to 5 years
Personal Loan Amount
Rs. 1 lakh to Rs. 20 lakhs
Pre-closure Charges
4% of pre-closed amount
Guarantor Requirement
No guarantor required

Details of Home Loan

Home Loan Interest Rate
(Monthly reducing balance)
10.5% to 14.25% floating. Check Customized Interest Rates Now!
Processing Fees
0.5% to 1% of loan amount
Home Loan Tenure
1 year to 20 years
Home Loan Amount Funded
Up to 85% of property value
Pre-payment Charges
0% to 2% of amount being prepaid
Pre-closure Charges
0% to 2% of amount being preclosed
Guarantor Requirement
No guarantor required

Details of Car Loan

Car Loan Interest Rate
(Monthly reducing balance)
10.50% to 14.25% floating. Check Customized Interest Rates Now!
Processing Fees
Up to Rs. 3,650
Car Loan Tenure
1 year to 5 years
Pre-closure Charges
3% to 6% of foreclosed amount
Car Loan Amount
Varies based on car model. Up to 100% financing for pre-approved customers.
Guarantor Requirement
No guarantor required

Loan Articles

  • Pointers for your personal loan!
    Evaluate all loan offers. The first condition for loan offer selection is the total money outflow that the loan will cost. The second factor is the EMI. A loan offer with a lower EMI and a longer tenure may seem attractive, as it could be easy on your purse strings, however not all such loans prove to be cost effective in the long run.
  • Alternatives to a personal loan!
    Whenever people have a requirement for some urgent cash and cannot come up with the amount needed with the resources they have, they inadvertently apply for a loan from a bank. Getting a loan today has become very easy, what with the stiff competition prevalent among different banks.
  • A personal loan? Think twice!
    Personal loans are the one of the most widely chosen options, in case you are in a spot and need some urgent cash. However, personal loans are tricky and you need to know as much as possible about their basics before applying for one. Let’s start with some common questions.
  • LAP vs. Personal loan
    LAP (loan against property) is one of the cheapest retail loans after home loans; usually in the range of 12% – 16%. Since the rate of interest is lower, frequently LAP Equated Monthly Installments (EMI) turn out cheaper.Maximum loan eligibility is determined primarily by the value of the property and income.
  • Checklist-Home loan documentation!
    Home loans are easy to come by these days. So, don’t fret over it. Focus on the documents you need to furnish while applying for a home loan. Documents required: We give you a standard list of documents your bank will ask for. Besides this you need to submit details of the property or home you are obtaining the loan for.
  • Are you loan eligible?
    Home loans are the most easily accessible financial supplement to purchase your dream home. To understand how to enhance your eligibility to apply for a home loan, make a simple self-assessment. Here is how banks do it.
  • Beware of these home loan facts!
    A bank is eligible to demand additional security when property prices fall. Even if you are loyal on your EMI payments, this clause demands a security cover in addition to your loan amount and if a borrower fails to provide such a security then he/ she may be declared a defaulter by the lender.
  • Arithmetic jugglery and home loans!
    Different banks quote their interest rates differently. Some might quote rates with an annual rest, while others may quote rates with a monthly rest. In every case the bank will usually quote the ‘annualised rate’, which is obtained by multiplying the rate per rest period into the number of rests per year.
  • Know how on car loan defaults!
    Technically, a car loan default happens when a customer repeatedly fails to make the agreed car loan payments to the lender/bank that lent the money for its purchase. But is there a prescribed number of payment failure mentioned? Yes. Usually, the car loan agreement that you signed with your lender/bank will have these terms clearly spelt out.
  • The same model but different price!
    The second most important price adding factor is probably the taxation involved vis-à-vis the city of purchase of your car. The price variation between a Maruti Swift taken in Chennai and one taken in Mumbai could be even upto Rs 25,000/- costlier in Mumbai.
  • Understand car insurance premium!
    Some insurers offer certain add-ons like Personal Accident cover along with your policy. If you want to get the car repaired but don’t have money to pay for it, cashless claim settlement can definitely help you. Opting for third party legal liability will help you safeguard yourself against the legal liability in case of accident.
  • Ideal car! How should you choose?
    When you have quite a bigger amount of money to spare on buying a car or rather as they say, you have arrived in life; it’s time for a luxury sedan or at least a sedan. The price range could be 8-15 lakhs for this category. The cars are longer, more spacious and the price tag is higher on account of the luxuries included and for the designs of the car.


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