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Get personal loans at banks and NBFCs in Bangalore with flexible tenure and amounts ranging from a few thousands to lakhs. Check eligibility online and get instant approvals. Get low interest rates and funds within 72 hours in your bank account. Apply now!
24 to 48 Months.
Your application will be subjected to Bureau Enquiry.
6 - 36 Months.
12 - 60 Months.
3 - 60 Months
2% - 5%
12 - 72 Months.
2 - 60 months
6 to 36 Months.
up to 6 years
1. Low-interest rates starting from 8.90% to 36%
2. Some banks offer a 0% processing fee. However, it can go up to 6% (including GST).
3. Loan tenure usually ranges from 12 months to 60 months.
4. Loan amount ranges from Rs. 50,000 to Rs. 40 lakhs.
5. No guarantor is required to obtain a personal loan in Bangalore.
6. Pre-closure charges between 2% to 5%.
Following are some of the major personal loan lenders in Bangalore. Let us look at the features and benefits offered by these lenders.
1. HDFC Bank
2. Tata Capital
3. L&T Finance
4. Axis Bank
5. Yes Bank
2% + taxes
Up to 7 lakhs
1.5% to 2% + taxes
Up to 40 lakhs
Up to 2%
50,000 to 5L
10.5% to 21%
2.75% + taxes
Up to 25 lakhs
Minimum monthly income
Experience in years
Salaried and Self-employed
Salaried or professional
ID and Address proof
Latest salary slips
Latest Form 16
Bank statements for the last 6 months
Utility Bill copy
Last 2 months’ salary slip
Bank statements for the last 3 months
1. P&L account, Balance sheet, and income computation for the last 2 years
2. IT returns for the last 2 years
4. Clearance certificate
5. TDS Certificate (Form 16A) or Form 26 AS for income declared in ITR or Income tax challans.
1. Personal loans available for salaried people
2. Loans can be taken for emergencies, marriage, home renovation, and personal loans for women.
3. Loans available up to Rs. 40 lakhs
4. Flexible repayment tenure of up to 5 years
5. Loan insurance available
6. 24/7 customer support available
1. Personal loans available for salaried and self-employed people
2. Completely digital process with fast disbursal
3. Loans available up to Rs. 7 lakhs
4. Flexible repayment tenure of up to 4 years
5. No need for proof of income documents
1. No collateral is needed
2. Easy application, quick disbursal of loans, doorstep banking
3. Part pre-payment facility available
4. Loans available up to Rs. 40 lakhs
5. Flexible repayment tenure of up to 5 years
6. Loans can be taken for marriage, holiday, and home renovation
2. Personal loans available for salaried and self-employed people
4. Loans available up to Rs. 25 lakhs
5. Flexible repayment tenure of up to 6 years
6. Loans can be taken for medical emergencies and big purchases
Most lenders will ask for a credit score of 750+ to approve a personal loan in Bangalore. The disbursal would be quick and minimal documentation is needed. Some lenders will provide personal loans for a low credit score also but will charge a higher interest rate. A good credit score is a reflection of healthy credit repayment behavior in the past. Lenders consider a good credit report as an important factor while approving a personal loan.
CreditMantri enables you to check your credit score within a few seconds. With basic information, you can check your credit score for free on CreditMantri by clicking here.
1. Income Level – The income level has a great deal of impact on what interest rate the bank would charge for a personal loan. The higher your income is, the higher the chance of availing of a lower interest rate. This is because the bank wants to know how easily you can pay the loan back. We can say that income level and interest rates are inversely proportional.
2. Workplace Reputation – Individuals working in big multinational companies have a higher chance of getting a lower interest rate for a personal loan. This is because job security is higher in these known organizations. They have a relatively stable career and growth path and hence their income will most likely not be affected negatively in near future.
3. Credit History – While evaluating the application for a personal loan, a lender is most likely to check the credit report and scores of the applicant. A credit score is a three-digit number given by credit bureaus after considering a lot of factors. The lenders usually refer to reports from CIBILTM, Equifax, Experian, and CRIF Highmark, as these are RBI-authorized credit bureaus in India. The credit report and scores talk about the past credit repayment discipline of the applicant.
4. Loan Payment History – Your loan repayment discipline in the past is being closely observed by lenders. They consider it as a benchmark for all future repayments too. Typically, they would like to know if there have been any defaults in the last 12 months. Applications by defaulters are mostly rejected or approved with a very heavy rate of interest.
5. Loyalty with the lender – Your loyalty to the existing bank where you have your account plays a role in the determination of interest rate. How many accounts, fixed deposits, etc. you have with them would have made you a loyal customer. Loyal customers get a good rate of interest for maintaining a good relationship with the bank.
6. Economic conditions and other market factors – If the economy is flourishing, you might be able to get a good interest rate since there will be fewer people applying for loans. However, if there is inflation or recession, it is highly likely that the interest rates would not be too low. That is because the demand for loans would be very high in the scenario of inflation or recession. Changes in repo rates also affect the interest rates. The Repo rate is the rate at which banks borrow funds from the Reserve Bank of India (RBI). If the repo rate is high, the interest rates on personal loans are bound to be high.
The application process for Personal Loans in Bangalore via CreditMantri
2. basic details like email ID, mobile number, full name as per PAN, loan amount requested, date of birth, residence pin code, residence city, gender, and marital status.
3. Click on “Next”
4. Proceed with the rest of the steps to complete the application
The application process for Personal Loans in Bangalore via lenders’ website
2. Go to the Personal loans in Bangalore section.
3. Click on “Apply”
4. Provide the necessary details and continue to complete the application.
The application process for Personal Loans in Bangalore - Offline
2. Fill out the relevant form
3. Submit the required documents and the completed form
4. You will get a call from the lender regarding the next set of steps
Check your personal loan EMI on CreditMantri by clicking here. The key elements that are used in the EMI calculator are Loan amount, interest rate, and tenure. Once you input these values, the EMI calculator will tell the exact EMI to be paid.
1. What is the minimum and maximum loan amount for salaried people?
It depends on various criteria like your net annual income, your repayment behavior, your credit score and credit history. Final approval for your loan amount is at the sole discretion of your lender.
2. Do I have to pledge any collateral in order to secure a personal loan?
No collateral or security is required for obtaining a personal loan in Bangalore. However, if your credit condition is found to be poor, and you need urgent funds, you might be asked for some form of collateral. Some lenders might ask you for a guarantor of sufficient net worth, apart from asking for collateral.
3. How do I repay the loan?
You can repay the loan amount in convenient EMI (Equated Monthly Instalments).
4. What is an EMI?
EMI stands for Equated Monthly Installment and is the monthly amount you need to pay your lender towards servicing your personal loan—interest included.
5. How is EMI calculated?
An EMI is calculated factoring the following:
You can use an online EMI calculator in order to calculate your monthly EMIs easily.
6. What is the minimum and maximum loan amount for salaried people?
It depends on various criteria like your net annual income, your repayment behavior, your credit score, and your credit history. Final approval for your loan amount is at the sole discretion of your lender.
7. Do I have to pledge any collateral in order to secure a personal loan?
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application