Meet your unexpected expenses by taking a personal loan in Bhubaneswar. This can help you cover these expenses. An instant personal loan in Bhubaneswar can support any expenses, such as medical, wedding, education, or more.
It can also support your dreams and aspirations to start a business or begin a new project. With a personal loan in Bhubaneswar, Odisha, you can enjoy low interest rates starting at 9.99% p.a. and flexible repayment tenures of up to 5 years.
Get an Instant Personal Loan in Bhubaneswar
Getting an instant personal loan is now very easy and convenient. Many banks and NBFCs offer quick disbursal of loans to help you meet the right financial solution on time. There are many loan aggregator platforms, such as Buddy Loan, that are available online, helping borrowers connect with lenders. Below is a table of the general yet critical loan information offered by different banks and NBFCs.
| Loan Type | Unsecured |
| Interest Rates | 9.99% p.a onwards |
| Loan Amount | Up to 35 Lakhs |
| Tenure | 3 to 60 Months |
| Minimum Salary | 15,000/- |
| Approval | 5 minutes – 24 Hours approx |
*Note: The interest rates are dynamic and subject to change based on your credit history and creditworthiness.
Personal Loan Interest Rates and Charges in Bhubaneswar
The interest rate and charges for a personal loan will differ from one lender to another. They will also depend on various factors such as loan amount, tenure, credit history, salary, and more.
Note: There are several fees taken by the lender for processing the loan, late repayment, or even prepayment.
Some of the general interest rates and charges set by personal loan providers in Bhubaneswar are:
| Interest rate | 9.99% p.a. onwards |
| Processing Fees | Up to 3% |
| Stamp duty | 0.5% onwards |
| Late payment charges | 1% – 2% |
| Prepayment charges | Up to 3% |
*Note: The interest rates are dynamic and subject to change based on your credit history and creditworthiness.
Personal Loan Providers in Bhubaneswar
There are many personal loan providers and loan agents in Bhubaneswar that offer competitive rates and loan terms. Here are some banks and NBFCs that provide competitive interest rates in Bhubaneswar
Banks in Bhubaneswar for Personal Loan
The banks and their respective interest rates providing personal loans in Bhubaneswar are:
| Personal Loan by Banks | Interest rate (%) |
| Union Bank of India | 8.75% p.a. onwards |
| Yes Bank Personal Loan | 10.99% p.a. onwards |
| Axis Bank Personal Loan | 9.99% p.a. onwards |
| HDFC Bank Personal Loan | 9.99% p.a. onwards |
| RBL Bank Personal Loan | 14.50% p.a. onwards |
| ICICI Bank Personal Loan | 9.99% p.a. onwards |
| IndusInd Bank Personal Loan | 10.35% p.a. onwards |
| SBI Bank Personal Loan | 10.00% p.a. onwards |
| Bank of Baroda Personal Loan | 10.15% p.a. onwards |
Note- The interest rates mentioned are subject to change. Do visit the website for more information.
NBFC in Bhubaneswar for Personal Loan
Below is a table providing you with a list of NBFCs along with their interest rates that give out personal loan in Bhubaneswar.
| NBFCs | Interest rate (%) |
| L&T Personal Loan | 11.00% p.a. onwards |
| Muthoot Finance Personal Loan | 13.50% p.a. onwards |
| Poonawala | 9.99% p.a. onwards |
| Tata Capital Personal Loan | 10.99% p.a. onwards |
| InCred Personal Loan | 13.49% p.a. onwards |
| My Money Mantra | NA |
| KreditBee | 12.00% p.a. onwards |
Note- The interest rates mentioned are subject to change. Do visit the website for more information.
Personal Loan Eligibility in Bhubaneswar
Every bank or NBFC has specific eligibility criteria that you need to meet in order to get a loan at a favorable term.
| Citizenship | Indian |
| Age | 21 – 65 years old |
| Minimum monthly income | ₹15,000 |
| Credit score | 650 above |
| Employment | Must be salaried or self-employed |
Documents Required for a Personal Loan in Bhubaneswar
Lenders require specific documents to verify whether you can be eligible for a personal loan in Bhubaneswar. Some of these documents are:
| Identity proof | Aadhaar card, PAN card |
| Age proof | Birth certificate, Voter ID |
| Address proof | Rental agreement, Utility bills |
| Employment proof | Employment letter |
| Salary proof | Salary slips for the last 3 months, bank account statements for 6 months, Form 16. |
Calculate EMI for a Personal Loan in Bhubaneswar
The equated monthly instalment are an integral part of the repayment process. They make repayment more convenient. Therefore, understanding how to calculate your EMI will help you plan your finances accordingly. Check your EMI using the Personal Loan EMI calculator given below:
There are two ways in which you can calculate your EMI, i.e. by using an online EMI calculator or by manually calculating using the EMI formula:
Begin by gathering essential loan details, including the loan amount, interest rate, and loan tenure (in months).
EMI = P x R x (1+R)^N / [(1+R)^N – 1]
Where,
- EMI stands for equated monthly instalments
- P is the principal amount.
- R is the rate of interest.
- N is the tenure in months.
You can use the EMI calculator from different banks or NBFC websites. Simply input your loan details, like the amount, interest rate, and tenure, click calculate, and then estimate your EMI.
Different Types of Personal Loans in Bhubaneswar
A personal loan can be used for different purposes, depending on your requirements. In Bhubaneswar, you can get a personal loan when unexpected emergencies arise. When you want to explore different parts of India or even to renovate your home. Here are the different personal loans in Bhubaneswar you can avail:
- Personal loan for wedding expenses: You can enjoy an elaborate wedding set in the rich cultural heritage of Bhubaneswar with a personal loan. It can help cover the costs of venue booking, catering, decorations, and other wedding-related expenses.
- Personal loan for home renovation: As a homeowner in Bhubaneswar, you can get a personal loan to fund home improvement projects, such as painting, remodelling, or adding new exciting features.
- Personal loan for medical emergencies: A personal loan will act as a financial cushion during unexpected medical emergencies. It will help you get the treatments you need and ensure that your medical bills are paid.
- Personal loan for travel and vacation: Everyone needs a break from their day-to-day monotonous lives. You can take out a personal loan to fund exciting adventures in your own country or even abroad if you are a resident of Bhubaneswar.
Features & Benefits of Personal Loans in Bhubaneswar
An instant personal loan in Bhubaneswar offers many features and benefits that you can enjoy over your loan tenure. Here are some of them.
- Customisable Loan: Get any loan amount of up to ₹35 lakhs.
- Swift Approvals and Disbursals: Enjoy fast approvals and disbursals.
- No Asset Risk: Safeguard your valuable asset with a collateral-free loan.
- Boost Credit: Timely payments will contribute to better credit scores.
- Low Interest Rate: Enjoy low interest rates starting from 9.99% p.a. onwards.
- Flexible Tenure: You can choose a tenure of up to 60 months.
Personal Loan in Bhubaneswar Without PAN Card
A personal loan without a permanent account number (PAN) card can be quite challenging. A PAN card is necessary for identification, tracking your financial transactions, and ensuring tax compliance. Most lenders will make it compulsory for applicants to provide their PAN details. However, if you require financial assistance but do not have a PAN card, you can get a loan by providing alternative documents from certain lenders. These documents can be:
- Form 60
- Aadhaar card
- Income Tax Return Acknowledgement
Finding the right lender will determine whether you can get a personal loan in Bhubaneswar without a PAN card. This will depend on the lender’s policy and discretion. However, even if a lender accepts your loan application, you might face certain limitations or additional scrutiny during the process.
Tips for Choosing the Right Personal Loan in Bhubaneswar
Choosing the right personal loan is important, as it will significantly affect your financial health. Getting the right loan terms will require you to research your lenders and their offers to find one that best suits your financial situation. Here are some tips on how to choose the right personal loan in Bhubaneswar:
- Access your loan requirements and eligibility: Determine the required loan amount that you can comfortably repay. Ensure you are eligible for the loan for a seamless loan process.
- Compare lenders: Find a reputed lender and compare the different interest rates and charges set by lenders so you can get the best loan offers that are catered to your financial needs.
- Determine your loan tenure: Your loan tenure will impact your EMI. Finding the right loan tenure that you are comfortable with will ensure that you get an affordable EMI.
- Repayment flexibility: Get a lender that offers a flexible repayment option, including part-payment or prepayment, that does not offer hefty penalty charges.
- Read the fine print: Carefully read the terms and conditions of a loan agreement before signing. This will help you avoid any hidden fees or clauses that may negatively impact your borrowing experience.
Steps to Apply Online for an Instant Personal Loan in Bhubaneswar
Steps to Apply for a Personal Loan with Buddy Loan
- Step 1: Visit buddyloan.com or download & install the Buddy Loan app (Android or iOS
- Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (including company name, years of service and designation)
- Step 6: Enter your personal details (including full name, PAN, address, DOB & gender)
- Step 7: Provide your communication address and income details, and click the ‘Submit’ button.
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