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    Personal Loan Fees and Charges

    When navigating the Airtel Loans plan, get all the information about the additional fees and charges crucial for informed financial decisions from our website/ Thanks App. From processing fees to penalty charges, being aware of the various costs associated with personal loans is essential.

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    Fees and Charges on Personal Loans

    With Airtel Loans, high-interest rates are a story from the past!

    Fee/Charge

    Description

    Late Payment Fee

    A penalty imposed for failing to remit payment by the specified due date on a loan or credit account.

    Loan Origination Fee

    A charge by lenders for processing a new loan application, typically expressed as a percentage of the loan amount.

    Prepayment Penalty

    A fee incurred for settling a loan prior to the agreed-upon term, intended to recover lost interest for the lender.

    Returned Payment Fee

    A charge for a payment that cannot be processed due to insufficient funds or other reasons.

    Account Closure Fee

    A fee applied when closing an account, particularly if done within a specified time frame after opening.

    Interest Rate

    The percentage charged on borrowed funds, representing the cost of borrowing over time.

    Processing Fees

    Charges associated with the administrative costs of processing a loan application.

    Verification Charges

    Fees related to the verification of personal information or documentation as part of the loan approval process.

    Bounce Charges

    Fees incurred when a payment (such as a check) is returned due to insufficient funds.

    Penalty Charges/Defaulting Fees

    Fees levied when a borrower fails to meet their payment obligations or defaults on a loan.

    Prepayment Charges

    Fees applied for settling a loan before the established term, which may be imposed by some lenders.

    Repayment Charges

    Fees associated with making a payment on a loan, which may apply to certain repayment methods.

    Loan Cancellation Charges

    Fees imposed if a borrower cancels a loan after approval but prior to disbursement.

    How to apply for a Personal Loan?

    Follow the simple steps mentioned below:

    Open Airtel Thanks App

    Find Shop > Airtel Finance

    Select Flexi Credit

    Fill in your basic details

    Get best offer

    Basis profile verification

    Complete the KYC

    Link your bank account

    Apply Now

    Features of Personal Loan

    With Airtel Loans, you get

    Personal loan amount

    ₹10,000 to ₹9,00,000

    Interest rates

    Starting from 11.5% p.a.

    Personal loan tenure

    03 to 60 months

    Credit disbursal

    Within 24 hours

    100% online

    No paperwork

    Low processing fee

    2% to 5% + GST

    Other related pages that you might be interested in

    Personal Loan Instant Personal Loan
    Personal Loan EMI Calculator Personal Loan Interest Rates
    Personal Loan Application Personal Loan Eligibility

    FAQs on Personal Loan Fees and Charges

    What are the typical processing fees associated with a personal loan?

    Processing fees for Airtel Personal Loans from Airtel Finance typically range between 0.25% to 3% of the loan amount, varying among lenders. These may include application fees and administrative costs incurred by the lenders.

    Are there any other upfront charges besides the processing fee?


    Yes, besides the processing fee, you may encounter verification charges, bounce charges, penalty charges, prepayment charges, repayment charges, loan cancellation charges, and duplicate certificate charges, depending on the lender and the terms of the loan.




    How much is the processing fee as a percentage of the loan amount?


    The processing fee for an Airtel Personal Loan usually ranges from 2 to 5% of the loan amount, determined by the policies and the specific type of loan.




    Are there any ways to negotiate or waive the processing fee?


    Some lenders may agree to negotiation for waivers or reductions may be possible based on factors like creditworthiness, loan amount, and the borrower’s relationship with the lender. It also depends on the type of loan you opt for.




    When is the processing fee typically charged - upfront or at loan disbursement?


    The processing fee is typically charged upfront, either at the time of application or as part of the loan agreement process, before loan disbursement.




    Are there any hidden charges that borrowers should be aware of?


    While not necessarily hidden, borrowers should be aware of additional charges like bounce charges, penalty charges, prepayment charges, repayment charges, loan cancellation charges, and duplicate certificate charges, which may vary among lenders.




    Can the processing fee be financed into the loan amount?


    It depends on the lender’s policies. Some lenders may allow the processing fee to be financed into the loan amount, while others may require it to be paid upfront.




    Is the processing fee refundable if the loan application is rejected?

    Typically, the processing fee is non-refundable, even if the loan application is rejected or the loan gets cancelled during or after the cooling-off period, as it covers administrative costs incurred by the lender.

    Are there any penalties for early repayment or prepayment of the loan?

    It is recommended to check with the lending partner of Airtel Finance to learn about the specific interest-related information.

    Are there any penalties for early repayment or prepayment of the loan?

    Yes, prepayment penalties may apply, ranging from 3% to 5% of the outstanding loan amount, depending on the lender’s policies.

    How do the processing fees and charges of different lenders compare?


    Processing fees and charges vary among lenders, so it’s advisable to compare offers from different lenders to find the most favourable terms.




    Are there any government regulations regarding personal loan processing fees?

    Government regulations regarding personal loan processing fees may vary by region or country, so borrowers should check with local authorities or regulatory bodies for specific guidelines.

    Do the processing fees vary depending on the loan amount or tenure?


    Yes, processing fees may vary based on factors such as the loan amount, tenure, and the borrower’s creditworthiness.




    Are there any additional charges for late payments or defaults on the loan?

    Yes, additional charges like penalty charges and bounce charges may apply for late payments or defaults on the loan, varying among lenders.

    How can I calculate the total cost of borrowing, including processing fees?


    To calculate the total cost of borrowing, including processing fees, borrowers can add up all applicable fees and charges to the loan amount and consider the interest rate over the loan tenure.




    Can I negotiate the terms and conditions regarding processing fees with the lender?






    Yes, negotiation regarding processing fees may be possible depending on factors such as the borrower’s creditworthiness, relationship with the lender, and prevailing market conditions. It’s advisable to discuss options with the lender directly.






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    Personal Loan Lending Partner - Airtel Flexi Credit

    Personal Loan Fees and Charges

    Throughout our lives, many of us encounter situations where securing a loan becomes essential, whether it’s to pursue personal aspirations or professional endeavours. From acquiring a student loan for further education, to obtaining a personal loan for significant life events such as weddings, home renovations, purchasing a car, or unforeseen medical emergencies, the need for financial assistance is diverse and ever-present. But it is important to know all the loan charges and fees included with the fund so that you may make a sound and knowledgeable decision.

    Types of Personal Loan fees and charges


    Apart from the primary loan amount, there are a lot of miscellaneous loan charges that you might need to pay to the lender to complete the process. There are a couple of charges that are also levied post the imbursement of the loan amount that you might need to keep in mind. Here’s a table denoting all the personal loan charges and fees:












































    Types of Personal Loan Fees

    Applicable Charges
    Interest Rate Between 11.5% – 38%
    Processing Fees Between 2% – 5%
    Verification Charges Levied as per third-party firm charges
    Bounce Charges Up to ₹ 1200
    Penalty Charges/Defaulting Fees Between 2%-8% (May differ from bank to bank)
    Prepayment Charges Different types of loans have different charges (4-5% approximately)
    Repayment Charges ₹ 250- 500
    Loan Cancellation Charges 0 charges before cooling-off period, ₹ 2500-3000 after the cooling of-period
    Duplicate Certificate Charges ₹ 250- 500


    1. Verification Charges: Most lenders/banks hire a third-party agency or firm to verify all your documents and credit score to make sure you can repay the loan. These agencies have their own charges and are either added to your loan amount or you can pay them separately.

    2. Bounce Charges and Repayment Charges: These charges may differ from bank to bank and get levied on you if the EMI bounces or repayment has to be done.

    3. Penalty Charges: If you have defaulted on your EMI, this charge is levied on you so make sure you agree to an EMI amount that is decided as per your financial capacity.

    4. Prepayment Charges: The reason lenders/banks give loans is because they make money on the payment of the interest and prepaying the loan amount may mean losses to you and may range between 3-5% as per different lenders’ policies.

    5. Loan Cancellation Charges: If you cancel your loan during the initial 15 days (cooling-off) period then you get no charges but if you cancel the loan post this period and before your first EMI payment date then you get charged this fee.

    6. Duplicate Certificate Charges: This charge is levied when you misplace the certificate and need a duplicate copy of the same.


    What is personal loan processing fee?


    Airtel Personal Loans from Airtel Finance usually charge you a very low personal loan processing fee, between 2% – 5%, for bearing all the administrative costs. This may also include an application form processing fee and the amount of this fee may also be calculated by taking into account the amount of loan taken by you or the type of loan you opt for. Sometimes the processing fees may increase as per your credit score worthiness and the efforts made to get you the loan.

    Please note that some banks may have a ‘no fee personal loan’ offer and it also depends on the type of loan, the amount and the process of getting a loan.

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