Personal Loans from Aditya Birla Capital Limited offer attractive interest rates and flexible repayment options, making it easier to manage your finances effectively. Understanding their rates and associated charges helps you plan your loan effectively and make informed borrowing decisions.
The rate directly impacts your EMIs, with higher interest rates leading to higher EMIs and vice versa. Comparing the personal loan interest rates of Aditya Birla Capital Limited against those of other lenders helps you choose the most affordable option.
Here is the current interest rate offered by the lender:
| Particulars | Details |
|---|---|
| Interest Rate |
13.50% p.a. onwards |
Disclaimer: The details mentioned above are subject to change at the lender’s discretion.
Besides interest rates, the lender may levy other charges during the loan’s tenure. Here are some important fees you should know about:
| Particulars | Details |
|---|---|
| Processing Fee |
Up to 4% of the loan amount + GST |
| Foreclosure Charges |
4% of the principal outstanding amount + GST |
| Part Prepayment Charges |
|
| Pre-closure Quote |
₹1,000 + GST per instance |
| Loan Reschedule Charges |
₹5,000 + GST per instance |
| Loan Cancellation Charges |
4% of the loan amount disbursed + applicable taxes |
| Default Penal Charges |
3% p.m. (36% p.a.) on overdue amount for the delayed period |
| Cheque Return Charges |
₹500 + GST per instance |
Disclaimer: The details mentioned above are subject to change at the lender’s discretion.
There are multiple factors that influence the interest rate offered to you for a personal loan. Being aware of these considerations can help you secure more favourable terms from Aditya Birla Capital Limited.
Lenders closely examine your cibil score and repayment history to assess the risk associated with lending to you. A high score and consistent repayment record indicate financial discipline. Thus, it can result in lower interest rates, while past defaults or delays may lead to higher rates.
Your monthly income, nature of employment, and job stability are key determinants. A steady income from a reputable organisation demonstrates reliable repayment capacity and may help you secure better rates. Irregular income streams could result in higher charges.
Lenders assess your current financial obligations relative to your income. A low debt-to-income ratio reflects responsible financial management and may qualify you for a lower rate. Conversely, higher liabilities can increase the rate charged.
Including a co-applicant with a strong credit profile and reliable income reduces the lender's risk. This can lead to lower interest rates and improved loan terms, particularly if your own credit history is limited.
Some lenders adjust rates based on the loan amount and tenure. Larger loans may attract higher rates, while smaller amounts or shorter repayment periods may carry comparatively lower rates.
Macroeconomic conditions, such as inflation and the Reserve Bank of India’s repo rate, influence lending rates. Higher inflation tends to increase borrowing costs, whereas repo rate cuts or periods of slowdown may result in more affordable loans.
Long-standing customers with a track record of responsible transactions and previous borrowings may be offered preferential rates. Established relationships lower uncertainty for lenders and streamline processing, too.
A lower rate helps reduce your monthly outgo, while a higher rate raises it. Consider this example:
If you take a personal loan of ₹7 Lakhs for 6 months at an interest rate of 13.50% p.a. from Aditya Birla Capital, your estimated EMI including interest will be around ₹1,21,303. The table below illustrates your monthly obligations and distribution of the principal and interest across EMIs:
| Tenure | Principal Paid | Interest Charges | Outstanding Dues |
|---|---|---|---|
| 1st Month |
₹1,13,428 |
₹7,875 |
₹5,86,572 |
| 2nd Month |
₹1,14,704 |
₹6,599 |
₹4,71,867 |
| 3rd Month |
₹1,15,995 |
₹5,309 |
₹3,55,873 |
| 4th Month |
₹1,17,300 |
₹4,004 |
₹2,38,573 |
| 5th Month |
₹1,18,619 |
₹2,684 |
₹1,19,954 |
| 6th Month |
₹1,19,954 |
₹1,349 |
0 |
Disclaimer: The EMI calculations are for illustration purposes only. Actual figures may vary depending on the loan terms.
With the personal loan EMI calculator on Bajaj Markets, you can easily estimate both your total and monthly repayment commitments. Simply enter the loan amount, interest rate, and tenure of your choice to view the calculated results.
Aditya Birla Capital offers both fixed and floating interest rate options on personal loans.
Interest rates depend on various factors, including credit score, repayment history, income stability, debt-to-income ratio, loan amount, and loan tenure. They may also be influenced by co-applicants, your relationship with the lender, and wider market conditions such as inflation or the repo rate.
The interest rate offered by Aditya Birla Capital is typically provided once your personal loan application is approved. You can apply online, contact their toll-free number, or email the support team to know the rate specific to your loan and profile.
The Aditya Birla Capital Personal Loan interest rate starts at 13.50% per annum for eligible borrowers. The maximum rate depends on your credit profile and other eligibility criteria.
Yes, your credit score plays a key role in determining the interest rate. A higher score reflects strong repayment behaviour and can help you secure lower rates. A lower score, on the other hand, may result in higher borrowing costs.