Overview of Personal Loan in Mahendragarh
Personal loans in Mahendragarh offer quick financial solutions for salaried and self-employed individuals to cover expenses like medical emergencies, travel, or debt consolidation. In 2025, these loans start at 10.5% p.a., offering up to ₹40 lakh with tenures up to 7 years. Lenders like HDFC Bank, ICICI Bank, and Bajaj Finance provide personal loans in Mahendragarh, ideal for Narnaul’s growing workforce. With a population of ~921,680 and a 13.30 km² urban area, Mahendragarh residents can use Loanpao’s platform for instant applications, lender comparisons, and real-time tracking.
Eligibility Criteria for Personal Loan in Mahendragarh
| Criteria | Details |
|---|---|
| Applicant Type | Salaried or self-employed individuals |
| Age | 21–60 years (salaried); 25–65 years (self-employed) |
| Income | Minimum ₹15,000/month (salaried); ₹2 lakh annual income (self-employed) |
| Residence | Resident of Mahendragarh or nearby areas |
| Credit Score | 750+ preferred for better rates |
| Employment | Minimum 1 year with current employer (salaried); 2 years in business (self-employed) |
Documents Required for Personal Loan in Mahendragarh
- Identity Proof: Aadhaar, PAN Card, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement for Mahendragarh address.
- Income Proof: Salary slips (3 months) and Form 16 for salaried; ITR (2 years) for self-employed.
- Bank Statement: Last 6 months with e-KYC verification.
- Photograph: Recent passport-size photo (digital upload).
- Employment Proof: Appointment letter or business registration certificate.
Benefits of Personal Loan in Mahendragarh
- Competitive interest rates starting at 10.5% p.a. in 2025.
- Loan amounts up to ₹40 lakh for flexible use.
- Flexible repayment tenures up to 7 years.
- No collateral required, ensuring quick disbursal.
- Instant approval within 24–48 hours via Loanpao.
Factors Affecting Personal Loan in Mahendragarh
Interest Rate
Rates range from 10.5% to 18% p.a., based on credit score, income, and repayment capacity.
Loan Amount
Up to ₹40 lakh, depending on monthly income and existing liabilities.
Credit Score
A score of 750+ secures better rates; scores below 650 may lead to higher rates or rejection.
Income Stability
Stable income and low debt-to-income ratio increase loan eligibility in Mahendragarh.
How to Apply for a Personal Loan in Mahendragarh
Follow these steps to apply for a personal loan in Mahendragarh through Loanpao:
- Visit loanpao.in and select "Personal Loan in Mahendragarh."
- Complete the online application with personal and income details (name, Mahendragarh address, salary).
- Upload required documents (Aadhaar, PAN, salary slips, ITR).
- Compare offers from lenders like HDFC Bank, ICICI Bank, and Bajaj Finance in Mahendragarh.
- Receive approval and funds within 24–48 hours after verification.
Loan Eligibility for Personal Loan in Mahendragarh
Check your eligibility for a personal loan in Mahendragarh with Loanpao’s tool:
- Enter personal details (age, Mahendragarh address).
- Provide income details (salary or business income).
- Submit credit score or allow e-KYC verification.
- Specify loan purpose (medical, travel, etc.).
Loanpao will evaluate your eligibility and recommend the best personal loan offers in Mahendragarh.
Check Eligibility NowTrack Your Personal Loan Application in Mahendragarh
Loanpao offers a seamless tracker for your personal loan application:
- Enter your application ID on the Loanpao Tracker page.
- Receive real-time updates on status (e.g., under review, approved, disbursed).
- Get notifications for fund disbursal in Mahendragarh.
- Contact Loanpao support for assistance with delays in Mahendragarh.
Personal Loan Comparison in Mahendragarh
Compare personal loan offers from top lenders in Mahendragarh:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 10.5% p.a. | Up to ₹40 lakh | Up to 7 years | Up to 2.5% of loan amount |
| ICICI Bank | 10.75% p.a. | Up to ₹30 lakh | Up to 6 years | Up to 2% of loan amount |
| Bajaj Finance | 11% p.a. | Up to ₹35 lakh | Up to 5 years | Up to 2% of loan amount |
Frequently Asked Questions
Personal loans can be used for medical emergencies, travel, weddings, debt consolidation, or any personal expense in Mahendragarh.
Personal loan approvals typically take 24–48 hours in Mahendragarh, depending on document verification.
Loan amounts can go up to ₹40 lakh, based on income and credit profile.
No, personal loans are unsecured and do not require collateral in Mahendragarh.
Yes, but a credit score below 650 may result in higher interest rates or lower loan amounts.
Yes, most lenders allow prepayment after 6–12 months, with minimal or no charges, depending on the lender.