Aditya Birla Finance Personal Loan Keeps Pace with Competition!

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Aditya Birla Finance is one of the notable names doing the rounds in the areas of providing suitable personal loans to help people meet their aspirations. Be it enabling a grand wedding ceremony or giving financial support during the emergency times, the non-banking finance company has proven its prowess on all fronts. By virtue of that, it’s commanding quite a bit of customer loyalty even as competition in the market remains intense with many players looking to get onboard customers. You can take a glance at Aditya Birla Finance Personal Loan before deciding to avail the option.

How Much Can You Get to Fulfill Your Goals?

You can get a maximum loan of up to ₹50 lakhs, with the minimum being ₹25,000. At the same time, you can repay the debt over a period ranging up to 5 years. You can avail the loan easily without submitting any collateral and repay via ECS or NACH.

What About Interest Rates on Aditya Birla Finance Personal Loan?

The loan comes with an interest rate ranging from 14%-26% per annum, based on the income, credit score and repayment capability of an applicant. Mostly, loans are offered on a fixed rate basis, means the rate of interest would remain the same throughout the course of a loan. However, it also keeps open the option of floating rates to customers. You must know the interest rate changes with the floating rate as per the prevailing market conditions.

At Aditya Birla Finance, the floating rate loans are based on Long Term Reference Rate (LTRR) and Short Term Reference Rate (STRR). While the LTRR is applicable to loans with a tenure of more than 12 months, STRR is given on a loan of up to 12 months. The benchmark LTRR has recently been increased by 50 basis points to 17.85%. On the other hand, the STRR is raised by 25 basis points to 16.85% per annum. There will also be a spread or margin on the loan.

Can You Calculate Aditya Birla Finance Personal Loan EMI in Advance?

Yes, you can, with the help of personal loan EMI calculator. It is available online for use. You just need to enter three variables - loan amount, the rate of interest and tenure - in the calculator to compute the estimated repayment in terms of the Equated Monthly Installment (EMI) and interest over the course of a loan. You should know that the EMI constitutes a portion of both principal and interest towards a loan. You can even check the outflow of principal and interest over the years by virtue of the calculator. So, it’s worthwhile having a look at the calculator before availing a loan. The calculator can help make changes in your spending pattern to meet the EMI repayment smoothly.

Documents Needed to Procure Aditya Birla Finance Personal Loan

You should submit the following list of documents while applying for a personal loan.
  • PAN Card
  • Aadhaar Card
  • Salary slip for the last 3 months
  • Bank statement for the last 6 months
With both fixed and floating rate loans, aided by an enhanced quantum of finance and easy documentation, Aditya Birla calls the shot in personal loan segment.

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