AU Small Finance Bank Personal Loan Approval Process

About AU Small Finance Bank Personal Loan Personal Loan

Personal Loans are being used by a large number of people to cover their expenses. One of the reasons for a significant rise in the growing popularity of Personal Loan is that because it is an unsecured loan that does not demand collateral and has a short processing period. A Personal Loan can be obtained from any bank or non-banking financial institution of your choice.

AU Small Finance Bank Personal Loan has special schemes and different income and occupation groups.
The AU Small Finance Bank Personal Loan also has an online application where the KYC and documents submission can be done digitally.
You can also easily check your AU Small Finance Bank Personal Loan application status on a real-time basis on the bank’s website or by visiting the customer care centre.
AU Small Finance Bank Personal Loan also offers pre-approved personal loans at a low rate for the costumers with strong credit-card history and those with an already existing account with the bank.

AU Small Finance Bank Personal Loan Personal Loan Eligibility

Particulars	Salaried	Self-Employed
Age	21 - 60 years	21 - 65 years
Minimum Income	Rs.15,000*	Rs.5 Lakh p.a.
Co-applicant	Not mandatory	Not mandatory
Loan Tenure	12 – 60 months	12 – 60 months
Maximum Loan Amount	Rs.40 Lakh	Rs.40 Lakh
Employment Type	Employees of private limited companies and public sector undertakings	Self-employed individuals
Employment/Business Continuity	At least 2 years; minimum 1 year with current employer	4 years Post Qualification experience for Doctors/ Chartered Accountants. 5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score	750 and above	750 and above
Residential Status	Resident Indian staying in own house or a rented house

*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000

Click here to know more about - Salaried Applicant
Click here to know more about - Self-employed Applicant

*Note: The eligibility criteria vary from lender to lender.

Check Personal Loan Eligibility with Top Lenders in 2021

Bank	Age Limit	Minimum Work Experience	Minimum Income (Per Month)
SBI	Up to 76 years	NA**	Rs.15,000
HDFC	21 to 60 years	2 years	Rs. 20,000
Private	23 to 58 years	2 to 5 years	Rs.17,500
Axis	21 to 60 years	NA**	Rs.15,000
Kotak Mahindra	22 to 55 years	1 year	Rs.25,000
Tata Capital	21 to 58 years	1 year	Rs.15,000
IndusInd	21 to 60 years	2 to 5 years	Rs.25,000
Ujjivan Small Finance	22 to 58 years	NA**	Above the minimum wage limit
India Infoline Finance Limited	25 to 60 years	6 months to 2 years	Rs.35,000
HDBFS	21 to 65 years	1 year to 3 years	Rs.15,000 for salaried Rs.1 lakh p.a. for self-employed
Indian Overseas Bank	Up to 58 years	NA*	Rs.5,000
IDFC First Bank	23 to 68 years	3 years	NA*
Federal Bank	21 - 55 Years	3 years	Rs.25,000
Punjab National Bank	21 – 58 years	2 years for doctors	Rs.15,000
Andhra Bank	21 - 55 years	NA**	NA*
Canara Bank	NA**	NA**	Salaried: Rs.6,000 & above Self-employed - Rs. 1.5 lakh
IDBI Bank	Up to 75 years for Pensioners	NA**	Rs.1.5 lakh p.a.
Fullerton India	21 to 55 years	1 to 2 years	Rs.15,000
RBL Bank	25 to 60 years	1 to 3 years	Rs.25,000
Bank of Baroda	21 to 60 years	1 year to 2 years	60% of gross monthly income
Deutsche Bank	25 to 60 years	NA**	Rs.25,000
Karnataka Bank	NA**	3 years	NA*
United Bank of India	up to 75 Years	2 years	NA*
UCO Bank	21 to 65 years	1 year to 5 years	Rs.20,000

*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions

Learn More about Personal Loan: Click Here

Documents Required for AU Small Finance Bank Personal Loan Personal Loan

AU Small Finance Bank Personal Loan Personal Loan Approval Process

The loan application is received by the bank. The information you provided in the application form will thereafter be verified by the bank. Details available with the bank, such as bank statements, salary deposits, and any or all EMIs deducted from your account, will be checked instantly.
The bank will then verify the information you provided in the application form concerning your identity. The bank will complete the KYC process here. You may be required to visit the bank with the originals of the documents submitted with your application form.
The bank may send an executive to your home or office to confirm the address you provided on the application form. The bank may also cross-check your employment information with your employer.
After the verification process is completed, the bank will check your creditworthiness. It will first check your credit score. The bank will determine your loan eligibility with your IT return.
If you have a credit score that is higher than 750, your loan will be approved immediately.
The loan amount and tenure will be decided based on your credit score, age, annual income, salary growth prospects and the number of years left in service.
Once your loan is accepted, you will have to pay the processing fee.

Steps to Apply for AU Small Finance Bank Personal Loan Personal Loan

Visit the official website of Dialabank.
Fill in the personal, professional, and financial information requested by the lender and submit the form.
After you submit the application form, Dialabank will verify your eligibility and advise you of the maximum amount you are eligible to receive.
If you agree to process the application, you must submit the relevant documents, which can also be uploaded online.
Finally, Dialabank will process your documents, and if the loan is approved, the funds will be transferred into your Bank account instantly.

AU Small Finance Bank Personal Loan Personal Loan Approval Process FAQs

✅ How does a personal loan work?

Once you submit your personal loan application to a lender, the lender verifies and approves it according to the institution’s requirements. Post this; the loan amount is immediately disbursed into your bank account. You will be required to pay the EMIs every month as a repayment of your loan.

✅ What are the documents required to apply for a personal loan?

As it offers a collateral-free advance, application for a personal loan generally involves ascertaining the applicant’s need/eligibility of funds and their repayment capacity. As such to be eligible for a Personal Loan applicants must generally be salaried individuals and share documents confirming their personal and professional details. Including but not restricted to: