Personal Loan in Patna

Patna is at the heart of Bihar, next to the Ganges. Despite its charm, the city's affordable cost of living remains a notable aspect. However, with higher aspirations and unexpected expenses, the need for a personal loan in Patna has skyrocketed.

Whether it's for education, medical emergencies, or home improvements, a personal loan provides a helping hand. With Buddy Loan, availing an instant loan in Patna has become seamless. It connects you to top banks and NBFCs that offer personal loans at low-interest rates, starting at just 11.99%* p.a.

Click and explore multiple options to apply for the right personal loan in Patna, today!

Avail An Instant Personal Loan In Patna

Need quick funds in Patna? Discover hassle-free instant personal loans with rapid approval and solve your financial gaps swiftly. Here are the highlights of instant cash loans in Patna:

Loan Amount Available from ₹10,000 to ₹15 Lakhs
Interest Rates Starting from 11.99%* p.a.
Loan Type Unsecured Personal Loan
Minimum Salary At least ₹15,000 per month
Loan Tenure Ranges from 6 months to 5 years
Note: The interest rates are dynamic and subject to change based on your credit history and creditworthiness.

Personal Loan Interest Rates in Patna

Understanding the costs associated with personal loans is vital before making a financial decision in Patna. Here's a quick look at interest rates and charges for personal loans in Patna:

Interest Rate Starting at 11.99%* p.a.
Processing Fees Up to 4% of the loan amount
Pre-closure Charges Ranging from 2% to 5%
Penalty Charges 2% of the overdue loan amount

Personal Loan Providers in Patna

Exploring the best personal loan options in Patna? Look no further. Discover a list of leading personal loan providers in Patna who offer loans at competitive rates and, with it, flexible repayment options. Make informed financial decisions effortlessly.

Top 10 Banks in Patna for Personal Loans

For personal loans in Patna, the choice of bank matters. Explore top banks in the city that offer reliable personal loan options. From competitive interest rates to flexible repayment plans, make borrowing decisions easy.

Top Banks Interest Rate (p.a.)
Axis Bank 10.49% onwards
IDFC Bank 10.49% onwards
IndusInd Bank 10.49% 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!

Top 10 NBFCs in Patna for Personal Loan

Discover the top NBFCs in Patna that offer favorable personal loan solutions. From competitive interest rates to flexible repayment terms, empower your borrowing decisions with this information.

Top NBFCs Interest Rate (p.a.)
Navi Personal Loan 9.9% onwards
Faircent Personal Loan 9.99% onwards
Upwards Personal Loan 9% onwards

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Read Less

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!

Personal Loan Eligibility in Patna

Securing a personal loan in Patna is a key step for many to meet their financial needs. Whether you're working for a salary or running your own business, understanding who can get a loan is really important. Get a complete guide to personal loan eligibility for both Salaried and Self-Employed individuals in Patna.

Salaried Individuals:

Age: Minimum 21 years and Maximum 60 years.

Income: A steady monthly income of at least ₹15,000.

Employment: Employed in a public and private sector company or a government employee.

Credit Score: A Credit score above 750.

Citizenship: Indian citizenship.

Self-Employed Individuals:

Age: Minimum 22 years to Maximum 55 years.

Business Stability: A proven track record of business operations, usually for a minimum of 3 years.

Credit Score: A score above 750.

Citizenship: Indian citizenship.

Will taking a personal loan affect my credit score?

Initially, your score might dip slightly because of the inquiry, but repaying the loan on time can have a positive impact on your credit score.

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

Check Your Credit Score for Free

Also get a Free Credit Report

Documents Required for a Personal Loan in Patna

When in the process of applying for a personal loan in Patna, having the correct set of documents prepared is of utmost importance. If you need a personal loan in Patna, these are the documents you'll need, regardless of your employment type,

For Salaried Individuals:

Identification Proof: This could include your Aadhaar card, passport, voter ID, or driver's license.

Address Proof: Recent utility bills, a rental agreement, or your Aadhaar card can serve as proof.

Income Proof: Essential documents here encompass salary slips, bank statements, and Form 16.

Passport-sized Photographs.

For Self-Employed Individuals:

Proof of Identity: Similar options apply, such as your Aadhaar card, passport, voter ID, or driver's license.

Address Proof: Recent utility bills, a rental agreement, or your Aadhaar card can serve as proof.

Income Proof: This would involve showcasing your Income Tax returns, balance sheets, and profit-and-loss statements.

Business Verification: Documents like business registration papers and GST certificates come into play.

Passport-sized Photographs.

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

Calculate EMI for a Personal Loan in Patna

Planning your EMI payments in Patna is easy with the Personal Loan EMI Calculator. Just enter the loan amount, interest rate, and repayment tenure in months. It evaluates the accurate EMI amount you need to pay every month.

This tool helps you make smart money choices and repay your loan smoothly. Whether you're getting ready for big or small expenses, this EMI calculator makes sure you manage your loan well.

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 (%)

Features & Benefits of Personal Loans in Patna

Personal loans in Patna serve as a valuable resource for individuals seeking financial support, with features designed to cater to a range of needs while offering the convenience of quick access and manageable repayment options.

Flexible Repayment

Choose repayment tenure up
to 5 years that suits
your financial comfort

Minimal Documentation

Streamlined paperwork
for hassle-free

Lowest Interest Rates

Interest rates starting
at just 11.99%* p.a.

Quick Disbursal

Rapid processing ensures
swift access to funds.

No Collateral

Unsecured loans eliminate
the need for assets as

Versatile Usage

Personalize loans
for weddings, travel,
and more.

Diverse Choices: Types of Personal Loans in Patna

Personal loans are versatile financial tools that can provide assistance in managing unexpected expenses in Patna. Each type of personal loan serves specific needs and comes with its own terms and conditions. Hence, it's important to choose the one that aligns best with your financial requirements and capabilities. Here are the different personal loans in Patna:

Holiday Loans: Tailored for vacations, offering funds to cover travel expenses.

Wedding Loans: Designed to cover wedding expenses, ensuring that the special day is financially stress-free.

Medical Loans: They cover medical expenses for emergencies, immediate assistance, surgery expenses, hospitalization, multiple checkups, etc.

Education Loans: Covers financing education, from school fees to higher studies, often with flexible repayment options.

Renovation Loans: Used to fund home improvements or renovations, enhancing the value and comfort of the property.

Consumer Durable Loans: Used for purchasing appliances, gadgets, and other durable goods, usually offered by retailers.

Debt Consolidation Loans: used to combine multiple debts into one, simplifying repayments. This might lower interest rates and reduce the burden of multiple payments.

Steps to Apply Online for an Instant Personal Loan in Patna

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

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!

Essentials to Know Before Applying For Personal Loan In Patna

Before you apply for a personal loan in Patna, it's crucial to equip yourself with essential knowledge. Being well-informed can help you make confident decisions and navigate the borrowing process smoothly. Here's what you need to know before applying for a personal loan:

Boost Your Credit Score: Credit Score Matters: Maintain a good credit score above 750, as lenders majorly consider your credit score. It impacts your loan approval chances and interest rates.

Interest Rates Vary: Different lenders offer varied interest rates. Compare rates and understand whether they are fixed or variable.

Eligibility Criteria: Familiarize yourself with the lender's eligibility requirements, including age, income, employment, and citizenship.

Loan Amount: Determine your required loan amount based on your needs and borrow only what you can comfortably repay.

Repayment Tenure: Choose a tenure that aligns with your financial capabilities. Longer tenures might lower EMI but increase the overall interest paid.

Processing Fees: Many lenders charge processing fees, affecting your total borrowing cost. Consider these fees before deciding.

EMI Calculation: Use a personal loan EMI calculator to determine your monthly repayment. It helps you plan your budget effectively.

Comparative Analysis: Don't settle for the first offer you come across. Compare loan options from various lenders to find the best fit.

Frequently Asked Questions

In Patna, you can use a personal loan for various purposes like medical emergencies, education, weddings, travel, debt consolidation, and more.

Yes, there might be processing fees, prepayment charges, and late payment penalties for a personal loan in Patna.

Yes, a low CIBIL score might lead to loan rejection or higher interest rates.

It varies; online lenders might offer quick approvals, while traditional banks might take a few days to weeks.

The personal loan amounts vary based on your eligibility and the lender, starting from ₹10,000 to ₹15 lakhs.

The personal loan interest rate in Patna starts from 10.49% p.a. and varies based on factors like your credit score, income, and job profile.

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