Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

Madurai is a major city in the state of Tamil Nadu. It is known for its famous Meenakshi Temple and the popular Jallikattu sport. Located in the south-central part of Tamil Nadu on the banks of the Vaigai River, the beautiful city has an illustrious past and showcases a unique blend of history and modernity. If you are a salaried individual working in the private or public sector for a personal loan in Madurai, here is all you need to know about personal loans and how to apply for personal loan in Madurai.

Top Personal Loan Providers in Madurai

Many banks and NBFCs offer personal loans in Madurai. Here is a list of all the lenders you can apply for a personal loan with at Bajaj Markets

 

  • Bajaj Finance Limited

  • Axis Bank

  • Fullerton India Credit Co. Ltd.

  • PaySense Partners - PayU Finance (India) Pvt. Ltd

  • Prefr - Powered by Hero Fincorp

  • Muthoot Finance

  • SBFC Finance Pvt Ltd.

  • CASHe

  • Fibe

  • Yes Bank

  • KreditBee

  • InCred

  • mPokket

  • IIFL

Madurai Personal Loan Interest Rates

You can avail personal loans in Madurai from Bajaj Markets at affordable interest rates. The interest rates and processing fee charged by our various lending partners are mentioned in the table below:

Lender

Interest Rates

Processing Fees

Bajaj Finance Limited

13.5% p.a onwards

2% - 3% of the loan amount + GST or ₹500 + GST (whichever is higher)

Fullerton India

12% p.a onwards

Between 0% - 6% of the loan amount

PaySense

14% p.a onwards

2% - 2.5% of the loan amount + GST or ₹500 + GST (depends on whichever is higher)

Axis Bank

10.49% p.a onwards

Upto 2% of loan amount

Muthoot Finance

14.50% p.a onwards

2% - 4% of loan amount

SBFC Finance Pvt Ltd

14% p.a. onwards

2% of the loan amount

CASHe

30% p.a onwards

₹1,200 or 2% of loan amount, whichever is higher + GST as applicable

Prefr Partners

21% p.a onwards

3-5% (approximately) with minimum processing fee of ₹1,500 + GST

Fibe

14% p.a onwards

Starting from ₹399 + ₹100 stamp duty

KreditBee

15% p.a onwards

From ₹500 to up to 6% of the loan amount

Yes Bank

10.99% p.a onwards

From ₹1499 to 2.50% of loan amount

InCred

21% p.a onwards

Processing fee: 2%-4% of the withdrawal amount

mPokket

24% p.a. onwards

Processing fee: Rs. 50 to Rs. 200 + 18% GST depending on the loan amount with maximum APR of 48%

IIFL

16.50% p.a onwards

2.50% - 4% of the loan amount + GST

Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.

Features & Benefits of Personal Loan in Madurai

Unlike other loans, you don’t have to keep anything as collateral/security with the bank and there is no tedious paperwork. However, personal loans available on Bajaj Markets are a step ahead of others with the following features and benefits:

 

  • Instant Personal Loans: At Bajaj Markets you are assured of loan approval in 2 minutes! As soon as you provide all your details, using the latest algorithms the system can evaluate your eligibility and creditworthiness. You will receive the money in your account once your personal loan is approved.

  • Flexible Repayment: Personal loans on Bajaj Markets are flexible and you can get loans up to Rs. 50 Lakhs that you can repay in easy EMIs over a period of 12-60 months. Or, you can apply for a hybrid flexi personal loan that offers principal payment holiday for the first year, flexible part-payments and unlimited withdrawals.

  • Minimal Documentation: If you are looking for the best online personal loans in Madurai, log in to Bajaj Markets,  fill in your details, just submit a few documents and you are done. No longer tedious paperwork, physical visits or a long list of documents to sign and submit.

Types of Personal Loans

Personal loans are of various types, tenures and sizes depending on your financial requirement and repayment schedule. Here are a few major types of personal loans in Madurai:

 

  • Travel Loan: A travel loan is a type of unsecured personal loan that helps you enjoy a holiday with your loved ones and family. Whether you want to explore scenic places in India or plan a vacation to an exotic foreign destination, a personal loan for travel can help you fulfil your dreams.

  • Home Renovation Loan: Your home is the best place in the whole wide world. Therefore, it deserves a makeover once in a while. 

  • Medical Loan: Medical emergencies come announced and hospitalisation costs are rising every year. Even if you have health insurance, the cover may not be adequate. In such a situation, you can apply for a personal loan in Madurai to pay for medical emergencies.

  • Wedding Loan: We know that weddings in Madurai are a big and expensive affair and who doesn’t want to host a grand wedding. You can also take a personal loan or wedding loan to meet all types of wedding expenses.

Eligibility for Personal Loan in Madurai

While eligibility criteria are different for every lender, some of the general eligibility conditions that you will need to fulfil for most personal loans are:

 

  • You must be an Indian citizen.

  • You must have a regular source of income. You can be either a salaried employee of a company or a self-employed individual.

  • You must be a legal adult- at least 18 years of age. Some lenders have a higher lower age limit- 21 years or 25 years. There is also an upper age limit- to be eligible for a personal loan- usually between 58 and 65 years.

Documents Required for Madurai Personal Loan

You will need to furnish the following documents while applying for a personal loan:

 

  • Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, passport etc.

  • Address Proof: Aadhaar Card, driving licence, Voter Card, passport, utility bills, rent agreement, etc.

  • Proof of Income: Latest salary slips (usually last three months’ salary slips are required) or income return certificate or latest Form 16.

How to Apply for Personal Loan in Madurai

Applying for a personal loan in Madurai via Bajaj Markets is an easy and hassle-free process. All you need to do is follow the steps mentioned below:

 

  • Step 1: Visit the Personal Loans page on the Bajaj Markets website.

  • Step 2: Click on “Apply Now”. A new page will open with a form in which you need to fill in a few details.

  • Step 3: Enter some basic details like your income, type of employment and contact number.

  • Step 4: Compare the loan offers from the various partner lenders and pick the one that suits you the best.