Personal Loan in Bangalore

Bangalore, the tech and start-up hub of India, exponentially attracts people from all over the country. Naturally, the city’s expenses are also witnessing a rising curve and people often struggle with financial crises. Personal loans in a city like Bangalore can be a very useful aid during a financial emergency. You can use it for deposit for a rental apartment, buying in a two-wheeler, or any other urgent expenses.

Know the eligibility criteria, interest rates and charges, and top lenders and apply for an online personal loan in Bangalore, today.

Avail Instant Personal Loan in Bangalore

When faced with urgent needs in Bangalore, an Instant Cash Loan provides a swift solution. To secure a quick personal loan in Bangalore, explore various lenders offering instant loan services. With approval, often within hours, these loans offer timely financial support, addressing immediate requirements efficiently. Check all the important details you need to know about instant personal loan in Bangalore:

Category Details
Loan Type Unsecured Personal Loan
Interest Rates 11.99%* p.a. onwards
Loan Amount Up to 15 lakhs
Loan Tenure Up to 5 years

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*The interest rates mentioned are dynamic and subject to change based on your credit history and creditworthiness.

Personal Loan Interest Rates in Bangalore

When considering financial options like personal loans in Bangalore, it's crucial to be aware of the interest rates. Personal loan interest rates in Bangalore typically vary based on market conditions, loan amount, and an individual creditworthiness. Researching and comparing rates from different lenders is essential to secure a favorable borrowing rate.

Personal Loan Interest Rate 11.99%* p.a. onwards
Processing fee 2% to 6% of the loan amount
Prepayment charges Up to 2% to 4%
Late Payment Charges 2% of the due amount

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*The interest rates mentioned are dynamic and subject to change based on your credit history and creditworthiness.

Know the Personal Loan Providers in Bangalore

A plethora of personal loan providers in Bangalore, including well-known companies and lenders, serves the diverse financial needs. Research and choose the right personal loan company in Bangalore and get avail best financial assistance.

Banks in Bangalore for Personal Loan

Discover a variety of banks in Bangalore providing tailor-made solutions for instant personal loans. Whether it's advantageous interest rates or adaptable repayment choices, select a suitable lender to meet your requirements.

Personal Loan by Bank Interest Rates (p.a.)
SBI Personal Loan 11% onwards
Axis Bank Personal Loan 10.49% onwards
Bank of Baroda Personal Loan 10.90% onwards
HDFC Bank Personal Loan 10.50% onwards

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

NBFC in Bangalore for Personal Loan

Explore the wide array of private moneylenders, and Non-Banking Financial Companies (NBFCs) in Bangalore, delivering a variety of choices for personal loans. These NBFCs offer swift approvals and seamless loan disbursements to cater to your immediate necessities.

Personal Loan by NBFC Interest Rates (p.a.)
Paysense Personal Loan 16.8% onwards
KreditBee Personal Loan 12.24% onwards
Money View Personal Loan 15.96% onwards
Muthoot Finance Personal Loan 14% onwards
Tata Capital Personal Loan 10.99% onwards

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Calculate EMI for a Personal Loan in Bangalore

It is advised to calculate your monthly EMI before finalising your personal loan application to ensure a hassle-free repayment process. You can use the Personal Loan EMI calculator given below. Just enter your preferred loan amount, interest rate and tenure, and the get accurate EMI amount instantly.

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Eligibility for Personal Loan in Bangalore

To obtain a personal loan in Bangalore, you need to meet certain eligibility criteria. Although every lender may have different requirements for the eligibility, here are some of the common factors that determine eligibility for personal loan in Bangalore:

Age: Typically between 21 to 60 years.

Income: Minimum ₹15,000 per month.

CIBIL Score: 750 or above. A higher score improves chances of approval.

Residence: Must be an Indian resident.

Employment: Salaried employee of the public or private sector companies. Or self-employed individuals with a stable income.

Documents Needed for a Personal Loan in Bangalore

In order to get your personal loan application approved. You may need to provide a set of documents to the lender. Given below are the basic documents required for a personal loan in Banglore:

Identity Proof: Aadhaar card, passport, driver's license, or any government issued photo ID proof.

Address Proof: Recent utility bill, rental agreement, or Aadhaar card.

Income Proof: Salary slips, bank statements, or income tax returns.

Employment Proof: Employee ID card, appointment letter, or business proof.

Photographs: Passport-sized photos for application.

Salient Features of Personal Loans in Bangalore

In Bangalore, personal loans come with helpful features that make things easy. You get fast approvals and good interest rates. This helps you achieve your dreams and manage expenses with utmost ease.

Instant Loan Approval

Get your loan approved
within minutes.

No Collateral

Get your loan amount
without risking your assets.

Affordable Interest Rates

Interest rates starting
at just 11.99% p.a.

Multi-purpose Loan

Utilize the loan amount
as you please.

Flexible Repayment

Choose repayment period
up to 5 years.

No Hidden Charges

Zero hidden charges and

Different Types of Personal Loan in Bangalore

In Bangalore, you have a variety of personal loan choices to fit your unique financial needs. These loans are made to match your goals and situations. Here are the various kinds of personal loans in Bangalore.

Personal Loan for Marriage: Finance your dream wedding in Bangalore with a Personal Loan with attractive interest rates.

Personal Loan for Travel: Explore the world without exhausting your savings with a Personal Loan from anywhere in Bangalore.

Personal Loan for Home Renovation: Give your home a your dream makeover with a easy Personal Loan in Bangalore.

Personal Loan for Medical Emergencies: Swiftly address all your medical needs and unexpected healthcare expenses with an instant personal Loan in Bangalore.

Personal Loan for Education: Pursue higher education easily with a personal loan. Pay for all the academic expenses without worrying about funds.

Personal Loan in Bangalore for Low CIBIL Score

A low CIBIL score can't stop you in Bangalore. Explore personal loan options with alternative lenders and secured choices. Timely repayments can raise your score. Here's how you can get a personal loan in Bangalore with a low CIBIL score:

Explore Alternative Lenders: Look for lenders in Bangalore who consider factors beyond just CIBIL score. Focus on your income and repayment ability.

Opt for Secured Loans: Consider secured loans where you provide collateral like property or assets, which can increase your chances of approval.

Provide Income Proof: Show the proof of steady income through salary slips, bank statements, or ITR documents to demonstrate your ability to repay the loan.

Add a Co-Applicant: Having a co-applicant with a better credit history can enhance your eligibility and improve your chances of approval.

Timely Repayments: If approved, ensure timely repayments on your personal loan in Bangalore. This can help rebuild your credit score over time.

Tips for Choosing the Right Personal Loan in Bangalore

When you're looking for a personal loan in Bangalore, it's really important to choose wisely. These important tips will guide you and help you find the best lender for a personal loan that suits your money needs and makes paying back easy.

Assess Your Needs: Determine the exact purpose of the loan – whether it's for education, medical expenses, debt consolidation, etc. This will help you choose a loan that fits your requirements.

Check Interest Rates: Compare interest rates offered by different lenders. A lower rate will save you money over the loan term.

Loan Amount: Calculate the exact amount you need and borrow only that much. Avoid taking more than necessary, as it will lead to higher repayments.

Loan Tenure: Choose a loan tenure that suits your repayment capacity. Longer tenure may have a lower EMI but could result in higher overall interest payments.

Processing Fees and Charges: Understand the processing fees, prepayment charges, and any other hidden fees associated with the loan. Opt for a lender with transparent fee structures.

Credit Score: Check your credit score before applying. A good score can help you negotiate better terms.

Repayment Flexibility: Look for a lender that offers flexible repayment options like part prepayment or full prepayment without heavy penalties.

Loan Disbursement Time: If you need the funds urgently, consider lenders with a quick loan disbursement process.

Steps to Apply Online for an Instant Personal Loan in Bangalore

Follow these steps to apply for a personal loan in Bangalore on Buddy Loan:

Step 1: Visit - or Download & install Buddy Loan app.

Step 2: Fill out the application form, which includes the loan amount, the tenure in months, and contact details.

Step 3: Fill out the following personal details where required:

Step 4 Submit the details & wait for the loan confirmation.

Ready to take next step ?

Frequently Asked Questions

You can apply for a personal loan in Bangalore through Buddy Loan by following the simple application process.

Yes, you can get a personal loan in Bangalore without income proof. However, you may need to provide other documentation, such as bank statements, property ownership documents, or a guarantor.

You must have a minimum credit score of 750 to qualify for a personal loan in Bangalore.

Yes, there are a few personal loan options for individuals with a low CIBIL score in Bangalore. Some lenders who offer personal loans to borrowers with low CIBIL scores are Bajaj Finserv, HDFC Bank, ICICI Bank, Yes Bank, Kotak Mahindra Bank, Fullerton India Credit, Lendingkart, MoneyTap, EarlySalary, and KreditBee.

The time it takes for a personal loan to be approved in Bangalore can vary depending on the lender, the amount of the loan, and the borrower's credit score. However, it typically takes anywhere from 1 to 7 working days for a loan to be approved.

Yes, self-employed individuals can apply for personal loans in Bangalore. However, the terms and conditions of the loan may differ from those salaried individuals.

Yes, you can use a personal loan for business in Bangalore. However, it is important to note that not all lenders allow this, so you will need to check with the lender before you apply.

The interest rate for personal loans in Bangalore varies depending on the lender, the borrower's credit score, and the amount of the loan. However, the average interest rate for personal loans in Bangalore is around 12%.

Yes, you can get a personal loan from a co-operative bank in Bangalore. They typically offer personal loans to their members at lower interest rates than commercial banks.

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