Max Tenure
24 to 48 Months.
Best Rate
11% P.A
Processing Fee
2.25%
Features
- 100% Online Process.
- No Foreclosure Charges.
Pricing
- Interest rate: 0.92% P.M.
- Processing fee: Upto 2.25%
Documents Required
- ID Proof.
- Address Proof.
- Bank Account Details with E-Mandate Facility.
Your application will be subjected to Bureau Enquiry.
Max Tenure
6 - 36 Months.
Best Rate
14.04% P.A
Processing Fee
4%
Features
- Lower Interest Rates.
- 100% Online Process.
- Minimal documentation.
Pricing
- Interest rate: 1.17% P.M.
- Processing Fees: From 4%
Documents Required
-
Documents Required - Salaried
- ID Proof.
- Address Proof.
- Income proof (Latest 2 salary slips & Last 3 months'bank statement).
- Form 16/ITR.
Max Tenure
2 yrs
Best Rate
18%
Processing Fee
3-4%
Features
- Complete Online Process
- Minimal Documentation
- Faster Disbursal
Pricing
- Processing Fee - 3 to 4 % of Loan Amount
- Interest Rate Starting at - 18%
Documents Required
- Proof of identity and proof od address - (Pan Card and AadharCard)
- Proof of income - Salary Bank Statement
Max Tenure
12-72 Months.
Best Rate
12% P.A.
Processing Fee
1.0%
Features
- Hassle free Process.
- Flexibility of Repayment.
- No end use requirement.
Pricing
- Interest Rate: 0.92% p.m.
- Processing Fee: Upto 2.50%
Documents Required
- Income Proof (Latest 3 salary slips).
Max Tenure
12 - 60 Months.
Best Rate
12.96% P.A
Processing Fee
2.5%
Features
- Quick loan processing.
- Minimal documentation.
- Affordable Rates & Charges.
Pricing
- Intrest Rate-1.08% p.m.
- Processing Fee - From 2 - 3.5%.
Documents Required
- ID Proof.
- Address proof.
- Income proof (Latest 2 salary slips & Last 3 months'bank statement).
- From 16/ITR.
Max Tenure
3 - 60 Months
Best Rate
16% P.A.
Processing Fee
2% - 5%
Features
- Choice based loan offers available - Bureau Based & Banking Based
- ROI & Tenure will differ basis the loan offer chosen
- Disbursement within 24-28 Hours
- Complete Digital Loan Process
- No Income Documents Required
Pricing
- Interest rate: 1.33% P.M.
- Processing Fee: 2% - 5%
Documents Required
- Proof Of Identity & Proof of Address
- Bureau Based Offer - No Income Documents
- Banking Based Offer - Last 3 Month Bank Statements
Upon applying you provide Incred to pull your bureau Details to check the loan eligibility.
Max Tenure
12-72Months
Best Rate
11.04% P.A.
Processing Fee
3%
Features
- Loan upto 35 Lakhs
- Flexible Tenures upto 6 years
- Faster Loan Process
Pricing
- Interest rate: From 0.92 P.M.
- Processing fee: 1% to 3%
Documents Required
- Last 3 Months Payslips
- Last 6 Months Bank Statements
- Proof Of Identity (Voter ID,Passport,Driving License,Aadhar Card)
- Proof Of Address (Ration Card, Electricity Bill, Passport)
- Proof Of Employment & Ownership - If Required
Loan Amount
1_5L
Max Tenure
36 Months.
Best Rate
Nil*
Processing Fee
Nil*
Features
- Quick loan processing.
- Minimal documentation.
- Min Eligiblity Criteria.
Pricing
- Interest rate - 20% to 36% P.A.
- Processing fee - From 2.5%.
Documents Required
- ID Proof.
- Address Proof.
- Salary slip and appoinment Letter (for amber Customers).
- Income proof (3 Months BS )
Max Tenure
12 - 72 Months.
Best Rate
11.04% P.A.
Processing Fee
2.50%
Features
- Minimal Documentation.
- Hassle Free Process.
- Quick loan processing.
Pricing
- Interest Rate: 0.92% P.M.
- Processing fee: 2.50%
Documents Required
- ID Proof.
- Address Proof.
- Income Proof(Latest 3 salary slips).
- Last 6 months'bank statement.
- HDFC Bank Grievance Redressal
- To know more about Product features
Max Tenure
2 - 60 months
Best Rate
15.96% P.A.
Processing Fee
2%
Features
- Disbursal in 116 seconds.
- No foreclosure charges
- 100% Online Process
Pricing
- Interest rate: 1.33% P.M.
- Processing fee: From Rs. 399 upto 2% on Loan amount
Documents Required
- ID Proof.
- Address Proof.
- Income proof (Salary slip,bank statement).
By agreeing and accepting the terms and conditions set out herein, you provide your express consent to Social Worth Technologies Private Limited to access the credit bureaus and credit information report and credit score. You also hereby irrevocably and unconditionally consent to the usage of such credit information being provided by credit bureaus.
Max Tenure
12 - 60 Months.
Best Rate
12.96% P.A.
Processing Fee
1%
Features
- Minimal Documentation.
- Quick loan Processing.
- Balance Transfer Facility.
Pricing
- Interest rate: 1.08% P.M.
- Processing fee: From 0.75 - 2%
Documents Required
- ID Proof.
- Address Proof.
- Income proof (Latest 2 salary slips & Last 3 months'bank statement).
Personal Loan Bangalore
Personal loans in Bengaluru are easily available by a lot of lenders. Being a metro city, lenders offer competitive personal loan interest rates in Bangalore. Loan approvals are faster and completely digital. Let us know more about personal loans offered in Bangalore.Apply for Personal Loans in Bangalore via CreditMantri hereFeatures and Benefits of Personal Loans offered in Bangalore
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%.
Major Personal Loan Lenders in Bangalore
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
Personal Loan in Bangalore by leading lenders
Lenders | Tenure | Interest rate | Processing fee | Limit approved |
|---|---|---|---|---|
L&T Finance | 12-48 months | 11% onwards | 2% + taxes | Up to 7 lakhs |
Axis bank | 12-60 months | 10.49% | 1.5% to 2% + taxes | Up to 40 lakhs |
Yes Bank | 12-72 months | 10.49-19% | Up to 2% | 50,000 to 5L |
HDFC | 12-60 months | 10.5% to 21% | - | Up to 40 lakhs |
Tata Capital | 12-72 months | 10.99% onwards | 2.75% + taxes | Up to 25 lakhs |
Eligibility and Documentation Criteria for Personal Loans in Bangalore
Eligibility Criteria | Age | Minimum monthly income | Employment status | Experience in years |
|---|---|---|---|---|
HDFC | 21-60 years | Rs. 25,000 | Salaried | 2 |
L&T Finance | 23-57 years | - | Salaried and Self-employed | - |
Axis Bank | 21-60 years | Rs. 15,000 | Salaried or professional | - |
Yes Bank | - | - | Salaried and Self-employed | - |
Tata Capital | 22-58 years | Rs. 15,000 | Salaried | 1 |
Documents required
Documents required | ID and Address proof | Income proof |
|---|---|---|
HDFC | Aadhaar card Driving license Passport Voter ID | Latest salary slips Latest Form 16 Bank statements for the last 6 months |
L&T Finance | Aadhaar card Passport Utility Bill copy Bank statement Passbook copy | None |
Axis Bank | PAN card Aadhaar card Voter ID Passport | Latest salary slips Latest Form 16 Bank statements for the last 6 months |
Yes Bank | Aadhaar card Driving license Passport Voter ID | Last 2 months’ salary slip Bank statements for the last 3 months |
Tata Capital | Driving license Passport Voter ID | Employment certificate Bank statements for the last 6 months |
Additional documents required for self-employed people to apply for a personal loan in Bangalore –
1. P&L account, Balance sheet, and income computation for the last 2 years
2. IT returns for the last 2 years
3. Proof of business – registration certificate, GST number, license4. Clearance certificate
5. TDS Certificate (Form 16A) or Form 26 AS for income declared in ITR or Income tax challans.
HDFC Personal Loans in Bangalore Features and Benefits
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
L&T Finance Personal Loans in Bangalore Features and Benefits
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
Axis Bank Personal Loans in Bangalore Features and Benefits
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
Yes Bank Personal Loans in Bangalore Features and Benefits
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
Tata Capital Personal Loans in Bangalore Features and Benefits
1. No collateral is needed
2. Personal loans available for salaried and self-employed people
3. Part pre-payment facility available
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
Credit score and its effect on Personal Loans in Bangalore
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.
Factors that help in obtaining personal loans with low-interest rates in Bangalore
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
The application process for Personal Loans in Bangalore via CreditMantri
1. Click on “Check Eligibility”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
1. Log in to the lender’s official 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
1. Walk into a branch of the vendor.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
Personal loan Customer care in Bangalore
Personal loan customer care numbers are mentioned on each bank/financial institution’s website. You can contact them via phone or email.
Personal loan Status in Bangalore
Personal loan status can be tracked by entering details on the website of the lender. You can check your personal loan status in the following ways –- By SMS
- By calling the customer care number
- By emailing the customer care
- By checking on the official website of the lender
Personal loan rejection Bangalore
Personal loan rejection can happen because of a low credit score, income level, market factors, repayment history, etc.Personal loan EMI calculator Bangalore
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.
Personal Loan in Bangalore FAQS
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:
- The principle loan amount
- Tenure
- Rate of Interest
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?
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.
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