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Piramal Finance Personal Loan Highlights |
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| Interest rates | 12.70% p.a. onwards |
| Loan amount | Up to Rs 5 lakh |
| Loan tenure | Up to 5 years |
| Processing Fees | Up to 4% of the total loan amount + applicable taxes (payable before loan disbursement) |
Note: Interest rates updated as of 20th December 2024
Table of Contents
Piramal Finance Personal Loan Interest Rates
Piramal Finance Personal Loan interest rates start from 12.70% p.a onwards. Although Piramal Finance has not disclosed offering different personal loan interest rates for its loan applicants based on factors like credit scores, monthly income, occupation profile, employer’s profile, etc., most lenders consider these factors while setting the personal loan interest rates of their loan applicants.
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Compare Interest Rate for Personal Loans from Top Banks and NBFCs
HDFC Bank
Up to ₹40L
10.85% - 24%
Upto 6 Years
₹6,500
Axis Bank
Up to ₹10L
11.25% - 22%
Upto 5 Years
Upto 2%
Kotak Mahindra Bank
Up to ₹40L
10.99% - 36%
Upto 6 Years
Upto 3%
IDFC First Bank
Up to ₹10L
10.99% - 23.99%
Upto 5 Years
Upto 2%
ICICI Bank
Up to ₹50L
10.85% - 16.25%
1-6 Years
Upto 2%
Fees and Charges for Availing Piramal Finance Personal Loan
The processing fees and other charges for availing Piramal Finance Personal Loans are as follows:
Processing Fees
| Loan Product | Interest rates (p.a.) |
| Processing fees | Up to 4% of total loan amount + applicable taxes (payable before loan disbursement) |
| Application/login processing fees (Non-refundable) | Rs 3,500 + applicable taxes |
Prepayment/Foreclosure Charges
| Loan Product | Interest rates (p.a.) |
| Processing fees | Up to 4% of the total loan amount + applicable taxes (payable before loan disbursement) |
| Part-prepayment / pre closure charges |
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| Default interest rates | 2% per month on default of PEMII/EMI from date of default till date of actual payment. |
Other Charges for availing personal loans from Piramal Finance
| Loan Product | Interest rates (p.a.) |
| Rate of Interest conversion charges | 0.50% of the Loan outstanding + applicable taxes |
| Instrument dishonor charges for loan repayment | Rs 500 plus applicable taxes |
| CERSAI charges | Rs 500 plus applicable taxes |
| Loan Pre-closure Statement | Rs 1,000 plus applicable taxes |
| List of documents deposited with the lender | Rs 1,000 plus applicable taxes |
| Repayment schedule (applicable only for physical copies) | Rs 500 plus applicable taxes |
| Change of loan repayment mode | Rs 500 plus applicable taxes |
| Loan cancellation after cheque handover | Interest accrued & due + applicable taxes |
| Duplicate No Due Certificate/NOC issuance charges |
Rs 500 + applicable taxes |
Check: Personal Loan Processing Fees and Charges
Types of Piramal Finance Personal Loan
Personal Loan for Marriage
- Purpose: Piramal Finance offers personal loans to loan applicants to manage their marriage related expenses. Piramal Finance claims to disburse the loan within 1 working day
- Interest Rate: 12.99% p.a. onwards
- Loan Amount: Up to Rs 5 lakh
- Loan Tenure: Up to 5 years
Personal Loan for Travel
- Purpose: Piramal Finance offers travel personal loans to applicants for vacation packages, holiday trips and other travel related expenditures
- Interest Rate: 12.99% p.a. onwards
- Loan Amount: Up to Rs 5 lakh
- Loan Tenure: 3 months to 5 years
Personal Loan for Emergency
- Purpose: The lender offers personal loans to loan applicants, for planned medical expenses as well as for unplanned medical emergencies, with loan disbursal on the same working day
- Interest Rate: 12.99% p.a. onwards
- Loan Amount: Up to Rs 5 lakh
- Loan Tenure: 3 months to 5 years
Personal Loan for Festival
- Purpose: The lender provides festival loans to fund festival-related expenditures
- Interest Rate: 12.99% p.a. onwards
- Loan Amount: Rs 25,000 to Rs 5 lakh
- Loan Tenure: Up to 5 years
Personal Loan for Women
- Purpose: Piramal Finance provides personal loans for women to meet their financial needs like weddings, travel, higher education, debt consolidation, business-related expenses or other unplanned emergencies
- Interest Rate: 12.99% p.a. onwards
- Loan Amount: Rs 25,000 to Rs 5 lakhs
- Loan Tenure: Up to 5 years
Personal Loan for Salaried
- Purpose: The lender provides personal loans to salaried applicants for personal or business-related expenses with instant loan approval and disbursal for pre-approved customers
- Interest Rate: 12.99% p.a. onwards
- Loan Amount: Up to Rs 5 lakh
- Loan Tenure: Up to 5 years
Personal Loan for Home Renovation
- Purpose: The lender offers personal loans for home renovation which can be used for painting, repairs, extension, flooring, remodeling and other variety of purposes. Piramal Finance claims to disburse loan within 48 hours of loan application approval
- Interest Rate: 12.99% p.a. onwards
- Loan Tenure: Up to 5 years
Personal Loan for Education
- Purpose: Piramal Finance provides personal loans for education to meet their education related expenses like books, living costs, tuition and course materials.
- Interest Rate: 12.99% p.a. onwards
- Loan Amount: Up to Rs 5 lakhs
Eligibility Criteria for Availing Piramal Finance Personal Loan
The personal loan eligibility criteria set for loan applicants availing Piramal Finance Personal Loans are as follows:
Personal Loan for Marriage
- Applicants aged between 21 to 58 years
- Applicant should work in public or private sector companies
- Loan applicants with credit scores of 750 and above have higher chances of availing Piramal Finance Marriage Loans
Personal Loan for Home Renovation
- The lender offers personal loans for home renovation to applicants aged 21 years to 58 years
- Both salaried and self employed applicants are eligible for personal loan for home renovation
- Loan applicants with credit scores of 750 and above have higher chances of availing Piramal Finance Personal Loan
Personal Loan for Emergency
- Prospective loan applicants aged 21 years to 58 years are eligible for availing personal loans for emergency from Piramal Finance. However, the NBFC offers loan to applicants aged 50 to 60 years of age but with a higher personal loan interest rate.
- Applicants working in public or private sector companies are eligible for the loan. The self employed applicants of minimum 1 year of business activity can also apply for personal loan for emergency.
Personal Loan for Festival Loan
- The applicant should be an Indian citizen of aged 21 to 58 years
- The applicant should work in public or private sector company
- The applicant should have a minimum income of Rs 15,000
Personal Loan for Women
- Salaried/self employed applicants aged between 21 to 58 years are eligible for availing personal loan for women
- The loan applicants should have credit scores of 700 and above
- The minimum monthly income for both loan applicants availing Piramal Finance Personal Loan for Women is Rs 15,000
Personal Loan for Salaried
- Prospective loan applicants aged 21 years to 58 years are eligible for availing personal loans for salaried from Piramal Finance
- Salaried applicants working in public or private sector are eligibile
- Loan applicants with credit scores of 750 and above have higher chances of availing Piramal Finance Personal Loans for Salaried.
- The minimum monthly income for applicants availing Piramal Finance Personal Loan for Salaried is Rs 15,000
Personal Loan for Education
- Applicants aged between 21 to 58 years are eligible for availing education loan
- Prospective borrowers working in public and private sector companies are eligibile
- The loan applicant should also have a credit score of 750 and above
Piramal Finance Personal Loan Documentation Required
The personal loan documents required for loan applicants availing Piramal Finance Personal Loans are mentioned below:
- PAN card (mandatory)
- Identity proof (any one): Aadhaar, Driving License, Voter’s Identity Card and Passport
- Address proof (any one): Aadhaar, Driving License, Voter’s Identity Card, Passport, and utility bills (telephone, electricity, etc.)
- Income documents (for salaried professionals): Salary slips and Form 16
- Income documents (for self-employed professionals): IT returns, P&L statements and Balance Sheet
- Pension account statement and pension payment order (for pensioners)
- Bank statements from last 6 months
- Passport sized photograph
- In case of a co-applicant (spouse), the lender will require all the above-mentioned documents of the co-applicant at the time of loan application.
FAQ’s on Piramal Finance Personal Loan
What is the Piramal Finance personal loan eligibility for salaried employees?
Ans. Salaried employees aged between 21-58 years and having credit scores of at least 700 are eligible for availing Piramal Finance Personal Loans. The minimum monthly income requirements for salaried employees for availing Piramal Finance personal loan is Rs 15,000 per month.