Thinking of availing a Personal Loan to pay off your debts?

AU Small Finance Bank Personal Loan might just be the right choice for you

AU Small Finance Bank – Personal Loan Scheme

This loan is specifically designed for salaried employees of govt. organisations and reputed private organisations to help them get funds to meet their urgent financial needs. This personal loan can also be repurposed into a consolidation loan to pay off their high-interest credit card debts and loans.

Features of AU Small Finance Bank Personal Loan

Why this Loan?

  • The AU Small Finance Bank Personal Loan is meant for salaried employees of government units/institutions or reputed private organisations who need funds to meet their personal needs
  • This loan can also be used to pay off high-interest debts, thereby consolidating debt
  • This is a collateral-free loan

Loan Amount

  • The maximum loan amount offered under this loan scheme is up to Rs. 7.5 lakh

Interest

  • The applicable interest rate on this loan is defined as the sum of two factors namely, one-year Marginal Cost of Funds based Lending Rate (MCLR) and Spread. As of October 2020, the one-year MCLR of AU Small Finance Bank is 10.05%. The Spread factor is decided by the bank based on the loan type, quantum of loan, credit score of the borrower, etc.

Repayment

  • This loan must be repaid within 5 years. The borrower must repay the loan before turning 58 years old

Eligibility

  • The borrower must be a resident Indian within the age group of 23 to 53 years
  • The maximum age of the borrower at the time of loan maturity is 58 years
  • Salaried employees of Public Sector Undertakings, Central Government or State Government units, reputed corporate entities, etc. are eligible for this loan

Security Needed

  • This is a collateral-free loan

Processing Charges

  • The bank charges up to 5.00% of the loan amount for processing this loan

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns, Last 6 months bank statement

Reference Facts

  • AU Small Finance Bank Website: www.aubank.in
  • Headquarters: Jaipur, Rajasthan
  • Call Centre Toll-Free Number: 1800 1200 1200