Personal Loan in Mangalore

Mangalore is an important port city in Karnataka that is known for its amazing beaches and diverse culture. The city is an important business, commercial, industrial, educational and healthcare centre that offers rapid development to its citizens. Residents seeking to expand their business, go for higher education or to fund any urgent financial need can opt to get a personal loan in Mangalore.

You can now pursue your dreams and achieve all your goals with the financial help of an urgent loan in Mangalore at low interest rates and a comfortable loan tenure of your choice.

Get an Instant Personal Loan in Mangalore

Getting an instant loan is now much easier and quicker. With the click of a button you can get a loan through various banks and NBFCs that are available online. Below are the general loan terms that lenders in Mangalore offer:

Type of Loan Unsecured Loan
Minimum Salary Required 15,000/-
Maximum Loan Amount ₹ 50 Lakhs
Interest Rates 11.99% p.a. onwards
Tenure 3 to 60 Months
Approval 24 Hours approx
*Note: The interest rates are dynamic and subject to change based on your credit history and credit worthiness.

Personal Loan Interest Rates & Charges in Mangalore

The interest rate of a personal loan depends on various factors such as your credit score, loan amount, tenure and more. Lenders also charge additional fees when giving you a loan. These charges and rate of interest will differ from one lender to another. Below is an overview of the general interest rates and charges offered by various personal loan agents in Mangalore.

Interest rate 11.99% p.a onwards
Stamp duty 0.5% onwards
Processing fee Up to 3%
Prepayment charges 0% - 3%
Late payment charges 1% - 2%

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Personal Loan Providers in Mangalore

Many banks and NBFCs operate to provide personal loans in the city. Most personal loan providers in Mangalore offer attractive interest rates that you can benefit from. Below is a list of the banks and NBFCs that provide loans along with their interest rates.

Banks in Mangalore for Personal Loan

The banks providing personal loan in Mangalore include:

Personal Loan by Banks Interest Rate
Bank of Baroda Personal Loan 10.90% p.a onwards
Yes Bank Personal Loan 10.99% p.a onwards
Axis Bank Personal Loan 10.49% p.a onwards
Standard Chartered Bank Personal Loan 11.49% p.a onwards
ICICI Bank Personal Loan 10.50% p.a onwards

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

Ready to take the next step? Apply for a Personal loan now!

NBFC in Mangalore for Personal Loan

The personal loan agents in Mangalore along with their interest rates are:

NBFC Interest Rate
Buddy Loan 11.99% p.a onwards
Fullerton 11.99% p.a. onwards
InCred 13.99% p.a. onwards
Poonawala 9.99% p.a. onwards
Kredit Bee 12.25% p.a onwards

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

Mangalore Personal Loan Eligibility Criteria

Before applying for a loan, you will need to know if you are eligible to get one. Here are the loan eligibility criteria that personal loan providers in Mangalore expect:

Citizenship Indian
Age 21 - 65 years old
Credit score 650 above
Employment Must be salaried or self employed
Minimum monthly income ₹15,000

Documents Required for a Personal Loan in Mangalore

To ensure a smooth and efficient loan application process, you will need to provide the right documents. Specific documents required by lenders will differ from one lender to another. Here are some of the general documents required by personal loan providers in Mangalore:

Age proof Birth certificate, Voter ID
Identity proof Aadhaar card, PAN card
Address proof Rental agreement, Utility bills
Salary proof Salary slips for the last 3 months, bank account statements for 6 months, Form 16.
Employment proof Employment letter

Ready to take the next step? Apply for a Personal loan now!

Calculate EMI for a Personal Loan in Mangalore

When taking a personal loan in Mangalore, the repayment will be divided into monthly instalments over a set period. This instalment is known as the equated monthly instalments (EMI). Calculating your EMI before taking a loan will help you understand which loan terms will be a feasible and convenient option for repayment. There are two ways by which you can calculate the EMI for a personal loan. One is by using an EMI calculator and the other is by manually calculating using a formula.

You can use an online EMI calculator to get an estimate of how much EMI you will need to pay for your loan amount. It is convenient and simple to use, all you need to do is provide your loan amount, interest rate and tenure to get your approximate EMI amount.

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 (%)

You can also use the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], to calculate the EMI for an urgent personal loan in Mangalore.

Here, P is the principal amount, R is the interest rate and N is the tenure.

Different Types of Personal Loan in Mangalore

Mangalore is a very unique city with characteristics that give citizens the freedom to pursue their goals and aspirations. A personal loan in Mangalore can be used for various personal and business purposes. Let’s explore the different types of personal loans that you can get.

Personal loan for educational purposes: The city is known for its numerous educational institutions, attracting many students to pursue higher education. To cover the tuition fees, educational costs and living expenses, you can take a personal loan for educational purposes.

Personal loan for tourism and travel: Mangalore’s historic places and scenic beaches can make its citizens seek out other similar cities that are rich in culture and history. With a personal loan for travel, you can enjoy vacations and experience different cities without any financial worries.

Personal loan for medical expenses: Medical emergencies can arise without warning. To manage such immediate financial requirements you can get a personal loan for medical emergencies to cover healthcare costs, hospital bills, surgeries and various other treatments.

Personal loan for wedding celebrations: In Mangalore, people celebrate weddings in grandeur. To fund such elaborate celebrations you can get a personal loan for wedding expenses to cover venue, caterers and other expenses.

Personal loan for home renovation: Home renovation can be a necessity in the city of traditional and modern architecture. You can take a personal loan to fund home renovation or repair that needs to be done to improve your living space.

Ready to take the next step? Apply for a Personal loan now!

Features & Benefits of Personal Loans in Mangalore

Mangalore personal loans have many features and benefits that you can appreciate, these are:

Flexible Loan Amount

Get a loan amount of
up to 50 lakhs

Fast Approvals

Get your loan approved
in just a few days.

Zero Collateral

No need to provide any
security for the loan.

Improve Credit

Get better credit score
with timely repayments.

Low interest rate

Get affordable interest
rates starting from 11.99% p.a.

Customisable Tenure

Choose a tenure that you
are comfortable with.

Can You Get A Personal Loan Without A PAN Card?

Securing a personal loan can become quite a challenge if you do not possess a Permanent Account Number (PAN) card. The PAN card holds significance in identifying individuals, tracing financial transactions, and ensuring tax adherence. Most lending institutions mandate the inclusion of PAN details as part of the application process. However, if you find yourself in need of financial aid without a PAN card, certain lenders might accept alternative documentation like Form 60, Aadhaar card or Income Tax Return Acknowledgement.

Ready to take the next step? Apply for a Personal loan now!

Tips for Choosing the Right Personal Loan in Mangalore

To avail the right instant personal loan in Mangalore you will need careful consideration and research. Getting the right loan terms will provide you with significant financial benefit. Below are a few tips on how to choose the right personal loan.

Clearly outline your purpose: Defining your purpose for taking a loan will help you make good informed decisions with the loan terms as it will greatly impact your financial health.

Find the right lender: Finding a lender that best suits your financial goals will be beneficial. The right lender will provide you with the best loan terms for your situation.

Compare interest rates: Carefully scrutinise the different rates offered by different lenders. This will help you get better cost-effective interest rates.

Repayment flexibility: Select a repayment tenure that you are comfortable with and that aligns with your financial goals.

Professional guidance: To make better informed decisions you can also seek advice from financial experts.

Thorough agreement review: properly go through the loan terms and conditions before accepting them. This will help you avoid any hidden costs and clauses that might impact your financial wellbeing.

Steps to Apply Online for an Instant Personal Loan in Mangalore

Steps To Apply For a Personal Loan with Buddy Loan

Step 1: - Visit 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 & personal email. 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.

Take the next step? Apply for a Personal loan now!

Frequently Asked Questions

It takes about 24 hours to a few days for a personal loan in Mangalore to get approved.

Some documents required are Aadhaar card, PAN card, Bank statements, Rental agreement, Utility bills, Salary slips for three months, and more.

Yes, you can apply for a personal loan with a low credit score. However, the interest rate might be higher and chances of loan approval might be low.

The loan can be quickly approved and disbursed within minutes to a few days, depending on the lender.

In Mangalore, you can borrow a maximum amount of up to 50 lakhs depending on certain factors and lender policies.

The personal loan interest rate in mangalore starts from 11.99% p.a onwards.

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