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Disclaimer: Equitas Bank is not a Paisabazaar partner for personal loan and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Equitas Bank for personal loans. No offers/services from Equitas Bank are being provided by Paisabazaar for personal loans. For further information about Equitas Bank for personal loans, users are required to reach out directly to Equitas Bank.
| Equitas Bank Personal Loan Highlights | |
| Interest rate | 11.5% p.a.to 18% p.a. |
| Loan amount | From Rs. 2 lakh to Rs. 10 lakh |
| Repayment tenure | From 12 months to 5 years |
| Processing fee | Up to 3% of the loan amount plus applicable charges |
Note: Complimentary Critical Illness Cover of Rs. 5 Lakhs for Working Women.
Interest rates as of 20th Dec 2024
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Equitas Personal Loan Interest Rate
The interest rates of Equitas Bank Microfinance loans range between 11.5% to 18% p.a. While Equitas Small Finance Bank has not disclosed the interest rates for its MSME loan, it has mentioned that the interest rates for MSME loans are linked to FBIL 3-month Treasury Bill rate.
Also read: What are the personal loan interest rates offered by top banks/NBFCs?
Comparison of Personal Loan Interest Rates
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 11.25% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.99% onwards | Apply Now |
| HDFC Bank | 10.85% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 11.99% onwards | Apply Now |
| Federal Bank | 12.00% onwards | Apply Now |
| DMI Finance | Up to 28% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 16.00% - 29.95% | Apply Now |
| MoneyTap | 13.00% onwards | Apply Now |
| Piramal Finance | 12.70% onwards | Apply Now |
| Aditya Birla | 10.99% onwards | Apply Now |
| Moneyview | 14%-36% | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Fees & Charges of Equitas Personal Loan
Processing Fee for Personal Loan
| Processing Fee | Up to 3% of the sanctioned loan amount + applicable taxes |
Fees & Charges for Equitas Personal Loan
| Nature of Charge/Fee | Actual Charges (Excluding GST) |
| Penal Charges | Up to 3% per month for the delayed days on the EMI overdue from EMI due date till its payment date |
| Part-prepayment Charges | 2% on the repayment amount (After 6 months) |
| Fore-closure Charges | 2% on the principal outstanding on the date of closure (After 12 months of disbursement) |
| EMI Return(Cheque/NACH/ES) Charges | Rs. 500 per instance |
| Credit Shield | As applicable |
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Eligibility Criteria for Equitas Bank Personal Loan
The below mentioned is the eligibility criteria as defined by the Equitas Bank for the personal loan:
- Applicant should be a resident customer
- Age: 23 years to 55 years at time of availing the loan
- Salaried individual with minimum net take home salary of Rs. 60000 or above
- Bureau Score should be 728 or above
Equitas Bank Personal Loan Documents
Find below the basic personal loan documents required by Equitas Small Finance Bank for personal loan:
- Valid Aadhaar
- PAN Card
- Latest 6 month bank statement where salary is being credited