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Personal Loan in Bangalore Up to 40 Lakh
Enjoy attractive interest rates starting at 10.49% p.a. with flexible EMI options
Personal Loan in Bangalore
Bangalore is the capital of Karnataka and a major IT hub or Silicon Valley of India. The city has a rich history and culture. It is famous for its textile industry, art galleries, museums and numerous temples.
If you are living in Bangalore and need some extra cash for your personal or professional needs, you can apply for a personal loan from various banks and NBFCs. A personal loan is an unsecured loan that does not require any collateral or guarantor.
You can use it for any legal purpose, such as education, travel, wedding, medical, etc. In this article, we will tell you how to get the best personal loan in Bangalore, with low interest rates, flexible tenure, and quick disbursal.
Various Reasons to Take a Personal Loan in Bangalore
- Home renovation: You can use a personal loan to give your home a makeover, repair damages, buy new furniture, or install new appliances.
- Medical emergency: You can use a personal loan to cover the cost of hospitalization, surgery, medicines, or any other medical expenses that are not covered by your insurance.
- Wedding: You can use a personal loan to plan your dream wedding, book a venue, hire a caterer, buy jewellery, or go for a honeymoon.
- Travel: You can use a personal loan to fund your domestic or international travel, book flights, hotels, or tour packages, or enjoy your vacation.
- Education: You can use a personal loan to pay for your own or your child’s education, whether it is school, college, or higher studies. You can also use it to cover the cost of coaching, books, or other educational expenses.
- Business: You can use a personal loan to start or expand your business, buy equipment, inventory, or raw materials, or meet your working capital needs.
Apply Now for 50 lakh Personal Loan
Interest Rate of Personal Loan in bangalore
The interest rate of personal loan in Bangalore ranges from 10.49% to 40% per annum but it depends on multiple factors. These factors are individual income, credit score, loan amount, loan tenure and lender policy.
If your credit score is very good then you get a lower interest rate and if your credit score is bad then you will get a loan at high interest rates. Therefore you should compare the interest rates and other charges of different loan providers before applying for a personal loan.
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Personal Loan Offered by Various Banks in Bangalore
Get Personal loan in bangalore from private finance or govt. When you find a suitable bank to get a personal loan then you need to compare the interest rates of different loan providers, below is the list of some Banks interest rates.
Banks | Interest Rate (p.a.) | |
Axis Bank | 10.49% onwards | |
IndusInd Bank | 10.49% onwards | |
IDFC First Bank | 10.75% onwards | |
HDFC Bank | 10.50% onwards | |
ICICI Bank | 10.65% onwards | |
Kotak Mahindra Bank | 10.99% onwards |
Note: The interest rates not always fixed can be changed according to borrowers profile, lenders policy and RBI guidelines. Please check the lender’s website carefully before applying for a personal loan.
If you want a Personal loan quickly then you can apply through these instant personal loan apps in bangalore. These apps provide you with a loan up to 5 lakh.
Personal Loan Interest Rate in bangalore by Top NBFCs
NBFC | Interest Rate (p.a.) | |
Tata Capital | 10.99% onwards | |
Bajaj Finserv | 11.00% onwards | |
Bankbazaar | 8.90% onwards | |
NAVI | 9.90% onwards | |
DMI Finance | 12.00% – 40.00% |
Note: The interest rates not always fixed can be changed according to borrowers profile, lenders policy and RBI guidelines. Please check the lender’s website carefully before applying for a personal loan.
Apply Now for 10 lakh Personal loan
Features & Benefits of Personal Loan in bangalore
- Get loan up to ₹40 Lakh with low interest rates
- Customers aged 22-57 can get a loan.
- No extra fees or other Charges for the loan.
- Choose how long to pay back the loan
- Less paperwork to apply for a loan.
- Pay early or in parts for free
- Quick and easy money transfer
- Smooth and simple loan process.
Apply for a Instant Personal Loan in bangalore
If you want to apply for a best personal loan in bangalore then you can apply here to get your required amount easily. To apply for a personal loan you need to follow below simple steps:
You should compare the interest rates, fees, features, and benefits of different lenders and choose the one that suits your needs and budget.
You should check your eligibility for the loan amount and tenure that you want and see if you meet the lender’s criteria.
We are an online loan marketplace, where we understand your needs to provide you the best offers from 125+ Banks and NBFCs. Apply here to get the best competitive interest rates with minimal documentation required.
You will get an instant approval or rejection based on your eligibility and credit score. If approved, you will get a loan offer with the loan amount, interest rate, and tenure.
You can accept the loan offer and sign the loan agreement online or offline. You may also need to provide a post-dated cheque or an ECS mandate for the repayment of the loan.
You will get the loan amount credited to your bank account within 24 hours* of approval.
Eligibility Criteria for taking Personal Loan in bangalore
Age
Income
Employment
Credit Score
| Criteria | Eligibility for Salaried Employees | Eligibility for Self-Employed |
|---|---|---|
Resident Indian | Yes | Yes |
Age | 21 - 60 years | 21 - 65 years |
Employment | Public/Private sector companies, salaried doctors | Self-employed professionals/non-professionals, business owners |
Income | Minimum Rs 25,000 per month | Minimum Rs 3 lakh per annum |
Credit score | 650 and above | 650 and above |
Business vintage | NA | Minimum 3 years |
Documents Required for Personal Loan in bangalore
| Documents | Salaried Employees | Self-Employed |
|---|---|---|
Application form | Yes | Yes |
ID proof | Aadhaar/PAN/Passport/Voter ID/Driving License | Aadhaar/PAN/Passport/Voter ID/Driving License |
Address proof | Aadhaar/Passport/Voter ID/Driving License/Utility bill/Rent agreement | Aadhaar/Passport/Voter ID/Driving License/Utility bill/Rent agreement |
Income proof |
|
|
Photographs | Yes | Yes |
EMI Calculator for Best Personal loan in bangalore
A personal loan EMI calculator is a tool that helps you calculate your monthly installment or EMI for a personal loan. You can use this personal loan EMI calculator to plan your budget and repayment strategy.
Minimum Salary required to avail Personal Loan in bangalore
The minimum salary to get a Instant personal loan in Bangalore varies from lender to lender and depends on your location, credit score, and other factors. Generally, the minimum salary to get a personal loan in Bangalore is Rs 25,000 per month, which may be higher for some lenders or locations. You should check the income requirements of the lender before applying for a personal loan.
- For salaried individuals, depending on which Bank/NBFCs you are availing for a loan, minimum monthly income ranges from Rs. 25,000 to 50,000, depending on the lender.
- For self-employed individuals, depending on which Bank/NBFCs you are availing for a loan, the minimum annual income ranges from Rs. 3 lakh to Rs. 5 lakh, depending on the lender.
Apply Now for 2 lakh personal loan
Personal Loan with the Lowest Interest Rate in Bangalore?
Interest rate on a personal loan is influenced by many factors like your credit score, income, loan amount, loan tenure, and the lender’s policies. But, there are some methods to get a personal loan with the lowest interest rate in Bangalore.
- Compare: Check different banks and their interest rates online or offline.
- Bargain Rate: Talk to the bank and ask for a lower interest rate based on my credit score, income, and loan amount.
- Low Amount Loan: Choose a shorter loan period or a smaller loan amount to pay less interest.
- Find Offers: Look for special deals or discounts from the bank or other sources.
Personal Loan in Bangalore without Income Proof
Most lenders require income proof to assess your repayment capacity and creditworthiness. But, some options are available for those who do not have income proof, such as:
- Credit Score : Improve my credit score by paying my bills and loans on time and keeping my debt low..
- Collateral: Offer the bank an asset, like a property, gold, or vehicle, as collateral..
- Apply with Co-Applicant: Get a co-applicant or guarantor who has a stable income and a good credit score.
- Find Lending Platform : Explore other lenders, like peer-to-peer platforms, fintech companies, or NBFCs.
Check Your CIBIL Score to Get Personal Loan in bangalore
To get a personal loan in Bangalore, you need a minimum CIBIL score of 650. A higher score can help you get a lower interest rate and a higher loan amount. You can check your CIBIL score online for free using a CIBIL score checker
Conclusion
A personal loan in Bangalore can help you achieve your personal and professional goals. However, you should also pay attention to the interest rate, fees, charges, and terms and conditions of the loan. Compare all lenders and choose one option that offers you the best deal. Check your eligibility, documents, and credit score before applying. Use the EMI calculator and CIBIL score checker to plan your repayment and improve your chances of approval.
Frequently Asked Questions
If your credit score is low below 650 then you may face difficulty in getting a personal loan in bangalore. But you can try to improve your score by paying your dues on time, clearing your existing debts and avoiding multiple loan applications. You can also apply with a co-applicant or a guarantor who has a good credit score and income.
The interest rate on a personal loan in Bangalore is decided by several criteria, including your income, credit report, borrowing amount, tenure and lender. For taking a loan High Credit score matters because you can get low interest rates on it.
You can apply for an Immediate personal loan in Bangalore from various lenders such as DBS Bank, IDFC FIRST Bank, Bajaj Finserv, Navi and others. These lenders offer online applications, quick disbursal, flexible tenure, and attractive interest rates.
You can get a personal loan in Bangalore without income proof or salary slip if you have other sources of income, a high CIBIL score, a guarantor or co-applicant or a good relationship with the lender. You can also improve your credit score by paying your bills and EMIs on time, and then apply for a loan based on your score.
You can check the status of your personal loan application in Bangalore by visiting the lender’s website or app and logging in with your credentials. You can also call the customer care number or visit the nearest branch of the lender and provide your application reference number or loan account number to check the status of your application.
Bank Personal Loan Eligibility Criteria
Bank Personal Loan Interest Rate
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