Abhyudaya Co-Operative Bank Personal Loan @ Lowest Interest Rate Apply for personal loan up to Rs 5 Lakhs.

Abhyudaya Co-operative Bank Personal Loan Interest Rates

Personal Loan from the Abhyudaya Co-operative Bank is a feature-laden product that provides funding for urgent and short-term needs of finance. It can be used for any purpose that is legal and legitimate, like childs, education, purchase of consumer durable, repair and renovation of property, marriage, travel, repayment of existing debt, business use, medical expenses, etc. the borrower is not required to furnish an end-use certificate. The Personal Loan from Abhyudaya Co-operative Bank can be approved for up to 5 Lakhs with a maximum repayment term of 84 months (7 years) with no holiday period.

Abhyudaya Co-operative Bank Personal Loan Interest Rates

Abhyudaya Co-operative Bank Personal Loans are available at an extremely competitive rate of interest. The bank charges a rate of interest between 13.50% p.a. and 14% p.a., depending upon the customers job profile and credit standing. The personal loan interest rate is charged at a floating rate and is linked to the Prime Lending Rate. The rate of interest charged for both salaried and self-employed remains the same. However, the variations in interest rates are linked to the amount and type of surety.

Type of Borrower	Personal Loan with collateral securities valuing 50% or more up to 5 Lakhs	Personal Loan without collateral or less than 50% collateral securities up to 5 Lakhs	Groups Loans under Surety Loans with Confirmed ECS or SDL
Salaried	13.50% p.a.	14% p.a.	13.50% p.a.
Self-Employed	13.50% p.a.	14% p.a.	13.50% p.a.

Types of Personal Loans Offered by Abhyudaya Co-operative Bank

The Personal Loan offered by Abhyudaya Co-operative Bank can be differentiated on the basis of whether it is secured by a surety and collateral or not.

The different types of Personal Loans available are:

Personal Loan with Surety
Personal Loan against Pledge of Gold Ornaments
Personal Loan against Government Securities

Features	Personal Loan with Surety	Personal Loan against Pledge of Gold Ornaments	Personal Loan against Government Securities
Purpose of loan	Any legal and legitimate purpose	Any legal and legitimate purpose	Any legal and legitimate purpose
Quantum of loan	Up to 5 Lakhs	Up to 75% of the gold value, subject to a maximum of 25 Lakhs	Loan against bonds issued by RBI: Up to 2 years old @ 70% of accrued value Between 2 years to 4 years old @ 75% of accrued value Above 4 years old @ 80% of accrued value Loan against LIC policy@ 90% of surrender value Loan against KVPs @ 90% of surrender value
Surety	One surety if the net take home salary is 12,000 per month OR Two sureties if the net take home salary is 7,000	Gold ornaments	Government securities
Repayment tenure	Maximum of 84 months without holiday period	Maximum of 12 months	Maximum of 60 months or maturity date of security, whichever is earlier.

Abhyudaya Co-operative Bank Personal Loan Eligibility

To check for an Abhyudaya Co-operative Bank Personal Loan eligibility criteria. The applicant must fulfill the conditions in order to avail a Personal Loan from Abhyudaya Co-operative Bank. The eligibility conditions are:

Both salaried and self-employed individuals are eligible for a Personal Loan from Abhyudaya Co-operative Bank.
Salaried individual must be a permanent employee of the company
The minimum take home income/ salary of the applicant after EMI payment must be:
- For loan up to 1 Lakh Rs 7,000 per month.
- For loan above 1 Lakh up to 2 Lakhs: Rs 8,000 per month.
- For loan above 2 Lakhs up to 5 Lakhs: Rs 9,000 per month.

Documents Required for Abhyudaya Co-operative Bank Personal Loan

In order to avail a Personal Loan from Abhyudaya Co-operative Bank, the applicant must submit the following documents. Please note that all documents must be self-attested by the applicant and guarantor(s).

Category	Document Category	Documents Accepted
Salaried Individual	Proof of Identity (Any One) Separate proof for applicant and guarantor(s)	Voter ID Card Passport Driving License Aadhaar Card
	Proof of Address (Any One) Separate proof for applicant and guarantor(s)	Ration Card Voter ID Card Passport Driving License Bank Account Statement Aadhaar Card Utility Bill
	Income Proof (All)	3 month salary slip 6 months bank account statement of salary account Form No. 16 IT Return for last 3 years
	Other Documents	PAN Card (applicant and guarantor) Latest Photograph (applicant and guarantor) Duly filled and signed application form
Self-Employed	Proof of Identity (Any One) Separate proof for applicant and guarantor(s).	Voter ID Card Passport Driving License Aadhaar Card
	Proof of Address (Any One) Separate proof for applicant and guarantor(s).	Ration Card Voter ID Card Passport Driving License Bank Account Statement Aadhaar Card Utility Bill
	Income Proof (All)	2 year ITR 2 year Profit and Loss Account 2 year Balance Sheet 1 year bank account statement of current account of business
	Other Documents	PAN Card (applicant and guarantor) Latest Photograph (applicant and guarantor) Duly filled and signed application form

Abhyudaya Co-operative Bank Personal Loan - Processing Fees and Other Charges

A Personal Loan from Abhyudaya Co-operative Bank attracts the following charges:

Type of Charge	Amount of Charge
Processing fee	1.15% of the loan amount
Processing fee for Personal Loan above 1 Lakh	0.50% of the loan amount, subject to a maximum of 12,500
Processing fee for Loan Against Gold Ornaments	0.60% of the loan amount subject to minimum of 100 to a maximum of 1000. Gold appraisal charges on actual.
Processing fee for Loans Against Government Securities	0.60% of the loan amount subject to a minimum of 100 to a maximum of 1,000.

How to Calculate Abhyudaya Co-operative Bank Personal Loan EMI?

EMI is the monthly expense that is incurred in order to repay a Personal Loan. Therefore, it is important to know the EMI installment beforehand so that one can repay the loan without any kind of financial stress. Prospective borrower can use the EMI Calculator available on MyMoneyMantra to check the EMI payout corresponding to entered principal, term and rate of interest values.

The MyMoneyMantra EMI Calculator can be used in the following way:

Log on to the official website of MyMoneyMantra
Featuring in the header bar is the link Financial Tools
Click on Financial Tools and select EMI calculator from the drop-down menu
Enter values for the principal amount, rate of interest and desired loan term
Submit the information
EMI amount for the entered values will appear on the screen
Make changes in the values to reach an ideal EMI amount.

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Abhyudaya Co-operative Bank Personal Loan Interest Rate FAQs

Is Personal Loan from Abhyudaya Co-operative Bank available with or without surety?

Abhyudaya Co-operative Bank approves Personal Loan with surety. It accepts one surety if the net take home salary is 12,000 per month and requires two sureties if the net take home salary is 7,000.

What are the eligibility conditions for Abhyudaya Co-operative Bank Personal Loan?

The eligibility conditions for Abhyudaya Co-operative Bank Personal Loan are:

Both salaried and self-employed individuals are eligible for a Personal Loan from Abhyudaya Co-operative Bank.
Salaried individual must be a permanent employee of the company
The minimum take home income/salary of the applicant after EMI payment must be:

For loan up to 1 Lakh: 7,000 per month
For loan above 1 Lakh up to 2 Lakhs: 8,000 per month
For loan above 2 Lakhs up to 5 Lakhs: 9,000 per month

What is the Abhyudaya Co-operative Bank Personal Loan interest rate?

Personal Loan interest rates at Abhyudaya Co-operative Bank range between 13.50% and 14% p.a.

For which purposes Abhyudaya Co-operative Bank Personal Loan can be used?

Personal Loans with Abhyudaya bank may be used for several purposes including:

Purchase of consumer durables
Repairs and renovation of property
Marriage and religious ceremonies
Domestic or foreign travel
Repayment of existing debt
Medical expenses
Education cost

The borrower can use the loan for any purpose that is legitimate and acceptable to the bank. The borrower is not required to submit an end-use certificate to the bank.

What is the processing fee for Abhyudaya Co-operative Bank Personal Loan?

A Personal Loan from Abhyudaya Co-operative Bank comes at a processing fee of up to 1.15% of the sanctioned loan amount.

List the income documents required for Personal Loan from Abhyudaya Co-operative Bank?

The salaried and self-employed are eligible for an Abhyudaya Co-operative Bank Personal Loan. The income documents required for each are:

Salaried Individual:
- 3 months salary slip
- 6 months bank account statement of salary account
- Form No. 16
- IT Return for last 3 years
Self-Employed Individual:
- 2 year ITR
- 2 year Profit and Loss Account
- 2 year Balance Sheet
- 1 year bank account statement of current account of business

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