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 9.99%* 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 ₹35 Lakhs |
| Interest Rates | Starting from 9.99%* 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 9.99%* 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 | 9.99% onwards |
| IDFC Bank | 9.99% onwards |
| IndusInd Bank | 10.35% onwards |
| Indian Bank | 9% onwards |
| HDFC Bank | 9.99% onwards |
| ICICI Bank | 9.99% onwards |
| Canara Bank | 9.7% onwards |
| Yes Bank | 10.99% onwards |
Note- The interest rates mentioned are subject to change. Do visit the website for more information.
Top 10 NBFCs in Patna for Personal Loans
Discover the top NBFCs in Patna that offer favourable personal loan solutions. From competitive interest rates to flexible repayment terms, empower your borrowing decisions with this information.
| Top NBFCs | Interest Rate (p.a.) |
| Faircent Personal Loan | 12% onwards |
| Upwards Personal Loan | 16% onwards |
| Zype Personal Loan | 18% onwards |
| Tata Capital Personal Loan | 10.99% onwards |
| Loanbaba Personal Loan | 10.5% onwards |
| Bajaj Finance Personal Loan | 10% onwards |
| Aditya Birla Capital Personal Loan | 10.99% onwards |
| LoanTap Personal Loans | 18% onwards |
| KreditBee Personal Loan | 12% onwards |
Note- The interest rates mentioned are subject to change. Do visit the website for more information.
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.
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 licence.
- 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 licence.
- 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.
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.
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 a repayment tenure of up to 5 years that suits your financial comfort.
- Minimal Documentation: Streamlined paperwork for hassle-free application.
- Lowest Interest Rates: Interest rates starting at just 9.99%* p.a.
- Quick Disbursal: Rapid processing ensures swift access to funds.
- No Collateral: Unsecured loans eliminate the need for assets as security.
- Versatile Usage: Personalise loans for weddings, travel, and more.
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, hospitalisation, 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.
Essentials to Know Before Applying for a 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: Familiarise 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.
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:
- 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.
Download the Buddy Loan App Now!
One solution to each of your financial needs at your fingertip.
Scan to download now
