How to Track Personal Loan applications on Pondicherry?

The first step is to contact the lender from whom you have applied for the personal loan. The lender will provide you with the application number or reference number that you can use to track the status of your loan application.Most banks and financial institutions allow borrowers to track their loan application status online. You can visit the lender's website and navigate to the personal loan section, where you can find the option to track the status of your application. You will need to enter your application number or reference number to view the status.You can also call the customer service helpline of the lender and provide your application number or reference number to track the status of your loan application. The customer service representative will be able to give you an update on the application status.If you have applied for the loan at a branch office of the lender, you can visit the office and inquire about the status of your application. You will need to vprovide the application number or reference number to the staff at the office, who will be able to check the status of your loan application.

Who can avail of a Personal Loan in Pondicherry?

To avail of a personal loan in Pondicherry, you need to meet the eligibility criteria set by the lenders. The criteria may vary depending on the lender, but generally, the following factors are considered:Age: You should be at least 21 years old and not more than 60 years old (in some cases up to 65 years old).Income: You should have a stable source of income, either through employment or self-employment, and meet the minimum income requirement set by the lender.Credit score: Your credit score is an important factor in determining your eligibility for a personal loan. A good credit score improves your chances of getting a loan and may also help in securing a lower interest rate.Employment history: You should have a stable employment history with a minimum period of employment set by the lender.Residence: You should be a resident of India and have a permanent address in Pondicherry.

Personal Loan in Pondicherry

Personal Loans up to 50 Lakh in Pondicherry | Approval in 3 Minutes | Flexible Repayment

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Many people visit Pondicherry for several reasons. While Pondicherry is a hub for tourists, many people even settle there. A personal loan in Pondicherry can help with financial expenses and does not require collateral. Let us look at how you can get the best personal loan in Pondicherry.

Personal Loan in Pondicherry Details

Loan Type	Personal Loan
Loan Amount	Up to ₹50 Lakhs
Loan Tenure	12-60 months
Interest Rate	Starting from 10.49%
Processing Fee	1% - 4% of the loan amount
Prepayment Charges	2% -3% of the outstanding loan amount
Late Payment Charges	2% of the due loan amount

Disclaimer: The figures mentioned in this table are subject to constant change with the change in norms and policies of the lending institutions. Please check with the lender of your choice before applying.

Features & Benefits of Personal Loan in Pondicherry

Availing of a personal loan in Pondicherry can have several benefits. Here is a list of them.

Fast Disbursement

After you submit the required documents and complete the application process, you can easily get unsecured loans in Pondicherry.

Flexible Tenure

The tenure ranges between 12 months and 60 months to repay your loan.

Zero Hidden Charges

There are absolutely no hidden charges throughout the entire process.

Personal Loans Offered by Various Lenders in Pondicherry

Lending Institution	Interest Rate p.a	Tenure	Loan Amount	Processing Fees
Bajaj Finance	12% onwards	12 - 60 months	Up to ₹25 Lakhs	1% of the loan amount
Axis Bank	10.49% onwards	12 - 60 months	Up to ₹40 Lakhs	Up to 2% of loan amount
PaySense Partners	14% onwards	03 - 48 months	₹5000 to ₹5 Lakhs	Up to 3% of the loan amount
Fibe (formerly known as EarlySalary)	14% p.a. onwards	03 - 24 months	Up to ₹5 Lakhs	Up to 3% of the loan amount
CASHe	27% onwards	03 - 18 months	Up to ₹4 Lakhs	Ranges from flat ₹85 to 3% of the loan amount
KreditBee	12.24% onwards	Up to 24 months	₹1000 to ₹4 Lakhs	Ranges from ₹0 to 6% of the loan amount
SMFG India Credit	12% onwards	12 - 60 months	Up to ₹25 Lakhs	Ranges from 0% to 6% of the loan amount
Muthoot Finance	14.50% onwards	12 - 60 months	Up to ₹10 Lakhs	2% - 4% of the loan amount
YES Bank	10.49% onwards	12- 72 months	Up to ₹50 Lakhs	Up to 2% of loan amount
mPokket	24% onwards	Up to 3 months	₹500 - ₹30,000	Ranges from flat ₹50 to ₹200
IIFL Finance	18% onwards	03 - 42 months	₹5000 to ₹5 Lakhs	Ranges from 2.50% - 4% of the loan amount
InCred	16% onwards	12 -60 months	₹75,000 to ₹15 Lakhs	2% - 4% of the loan amount

Disclaimer: The figures mentioned in the above table are subject to constant change. Please check with the lender of your choice before applying.

How to Calculate your Personal Loan EMI in Pondicherry?

Loan Amount

₹

Tenure

Months
Years

Rate of Interest

%

Monthly EMI

at % interest rate for months

Total Amount Payable

Principal Amount

Total Interest Amount

Apply Now

Year	Principal	Interest	Balance

Now that we know about personal loan providers in Pondicherry, you can learn to calculate EMIs. To make an informed decision when selecting an instant personal loan in Pondicherry, it's crucial to have a clear understanding of the monthly EMI payments. These payments have a significant impact on your monthly budget since they cover the amount that needs to be repaid. By having knowledge about EMI amounts, you can plan your monthly budget effectively and adjust your expenses accordingly.

Fortunately, many banking and financial institution websites provide a personal loan EMI calculator that is free of cost. All you have to do is enter the tenure, loan amount and the applicable rate of interest. It then instantly shows you your EMI.

If you prefer to calculate the EMI amount manually, you can use this formula too:

Personal Loan EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here, 'P' represents the principal amount, 'R' represents the monthly interest rate, and 'N' represents the number of monthly instalments or the loan tenure.

Eligibility Criteria for Personal Loan in Pondicherry

Here are some common eligibility requirements for personal loans in Pondicherry:

Age: Applicants must be at least 21 years old and no more than 60 years old.
Income: Applicants should have a regular source of income that meets the lender's minimum income requirements, which can range from ₹15,000 to ₹25,000 per month depending on the lender.
Employment Status: Applicants must be a salaried employee or a self-employed individual with a regular income source. The required minimum work experience or business continuity may vary between lenders.
Credit Score: Lenders consider the applicant's credit score to assess their creditworthiness. A good credit score is important for a successful loan application.

The eligibility criteria for self-employed individuals in Pondicherry may differ slightly from salaried employees. In addition to the common eligibility criteria mentioned earlier, self-employed individuals may also need to provide additional documents such as:

Business proof: Self-employed individuals should have a proof of business existence such as a registration certificate, partnership deed, or a business licence.
Business income: The lender may require income tax returns, profit and loss statements, balance sheets, and other financial statements to verify the income of the self-employed applicant.
Business stability: The self-employed applicant must demonstrate the continuity and stability of their business. This may be assessed through the number of years the business has been in operation or the consistency of its income over time.

Documentation Required to Apply for a Personal Loan in Pondicherry

Applying for a personal loan in Pondicherry usually requires certain documents for verification purposes.

Applicants may need to provide valid government-issued ID for identity proof.
A document such as a utility bill or rent agreement may be required for address proof.
Salaried employees may need to submit salary slips or bank statements to verify their income, while self-employed individuals may need to provide audited financial statements and income tax returns.
Salaried employees may also need to provide proof of employment, such as a joining letter or appointment letter.
Bank statements for the last 6 months to 1 year may be required to verify income and expenses.
Applicants applying for a secured loan may need to provide proof of ownership of assets such as property, gold, or shares.
A recent passport-size photograph of the applicant may also be required.

How to Get a Personal Loan with the Lowest Interest Rate in Pondicherry?

Improve the state of your existing debt: To secure a more favourable interest rate on a personal loan, your income cannot be tied up in loan repayment or paying pending credit card bills. Work on losing these liabilities by paying off existing debt and payments.
Take the help of a co-signer: A good way to secure a lower interest rate on your personal loan is to apply for one with a co-signer. Having a co-signer with a good credit score and a high debt-to-income ratio can increase the chance of lenders providing loans at lower interest rates.
Improve credit score: Maintaining a good credit score is a key ingredient to successfully securing a lower personal loan interest rate. A way to achieve this is by monitoring your credit report and working on fixing any errors. Having a good credit history may even lead to lenders providing you with pre-approved loan deals with lower interest rates. Having a good credit score is also the best way to negotiate a lower rate.
Shop around the market: Before selecting a personal loan plan, ensure that you have explored the market. This way, you can compare the interest rates being offered by various banks before making your final pick.

How to Apply for a Personal Loan in Pondicherry?

To apply for a personal loan in Pondicherry, one can visit Bajaj Markets website and check out the lenders there.

Once on the page, head to the 'Personal Loans' section on their website and click on the 'Apply Now' option.
Fill in the required details on the form that appears after clicking on the 'Apply Now' option.
The form will require basic details such as income and employment information.
After filling in the details, compare loan offers from various partner lenders.
Select the loan offer that best fits your requirements.

Comparison of Personal Loan Interest Rates of Top Banks/NBFCs in Pondicherry

Lending Institution	Interest Rate p.a.	Tenure	Loan Amount	Processing Fees
IDFC Bank	10.49% - 25%	12-60 months	Up to ₹1 Crore	3.5% of the loan amount
IndusInd Bank	10.25% -26%	12-60 months	Up to ₹50 Lakhs	3% of the total loan amount
HDFC	10.50% -25.00%	03-72 months	Up to ₹40 Lakhs	Up to ₹4999
Tata Capital	10.99% - 24%	12-72 months	Up to ₹35 Lakhs	2.75% of the loan amount
Ujjivan Small Finance Bank	11.49% - 16.49%	12-60 months	Up to ₹15 Lakhs	2% of the loan amount or ₹2,000 (whichever is higher)

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FAQs on Personal Loans in Pondicherry

In Pondicherry, you can typically get a personal loan from banks or financial institutions ranging from ₹10,000 to ₹50 Lakhs. However, the amount you can get depends on factors like your credit score and income, as well as the lender's policies. It is important to keep in mind that even if you're eligible for a higher loan amount, you should only borrow what you can comfortably afford to pay back. Before applying for a personal loan, calculate your monthly income and expenses to determine the maximum EMI you can afford. This will help you avoid defaulting on the loan and harming your credit score.

In Pondicherry, the maximum amount of money that can be borrowed through a personal loan can vary depending on the lender and individual circumstances of the borrower. Generally, banks and financial institutions offer personal loans ranging from ₹10,000 to ₹50 Lakhs.

The first step is to contact the lender from whom you have applied for the personal loan. The lender will provide you with the application number or reference number that you can use to track the status of your loan application.
Most banks and financial institutions allow borrowers to track their loan application status online. You can visit the lender's website and navigate to the personal loan section, where you can find the option to track the status of your application. You will need to enter your application number or reference number to view the status.
You can also call the customer service helpline of the lender and provide your application number or reference number to track the status of your loan application. The customer service representative will be able to give you an update on the application status.
If you have applied for the loan at a branch office of the lender, you can visit the office and inquire about the status of your application. You will need to provide the application number or reference number to the staff at the office, who will be able to check the status of your loan application.

To avail of a personal loan in Pondicherry, you need to meet the eligibility criteria set by the lenders. The personal loan eligibility criteria may vary depending on the lender, but generally, the following factors are considered:

Age: You should be at least 21 years old and not more than 60 years old (in some cases up to 65 years old).
Income: You should have a stable source of income, either through employment or self-employment, and meet the minimum income requirement set by the lender.
Credit score: Your credit score is an important factor in determining your eligibility for a personal loan. A good credit score improves your chances of getting a loan and may also help in securing a lower interest rate.
Employment history: You should have a stable employment history with a minimum period of employment set by the lender.
Residence: You should be a resident of India and have a permanent address in Pondicherry.