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  • Bangalore Personal Loan

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  • The capital of Karnataka, Bangalore houses over 10 million people and is also home to a large number of banks that offer personal loans at competitive interest rates and paperless approval. If you are looking for personal loans in Bangalore, you can approach any of the many reputed banks such as Citibank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IDFC Bank, etc. and find a solution that will best suit your financial requirements.
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    We found 17 Bangalore Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.75% - 21.45% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    Fees & Charges
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    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
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    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
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    Fees & Charges
    Eligibility Criteria
    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
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    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
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    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
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    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
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    Bangalore Personal Loan Interest Rates

    Updated on 20 Oct 2019

    Bangalore Personal Loan Details
    Interest Rate 10.99% to 24% p.a.
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Documentation needed to apply for an Bangalore Personal Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Bengaluru also called Bangalore, is a bustling city, which is the capital of Karnataka state. The state is located in the southern part of India. This city is famous as a leading information technology (IT) hub with several multinational corporations (MNCs), parks, lakes, and pubs. Bengaluru has a population of around 10 million, which makes the place a megacity.

    If you are looking for financial assistance to meet your different requirements, you could take a personal loan. There are many lenders across the city of Bengaluru that provide affordable personal loans for any purpose. You do not have to furnish any collateral or security while applying for a personal loan. You can apply online or offline for these loans.

    If you intend to apply online, you can check out official websites of lenders or third-party financial websites. Before you take a personal loan online, make sure you compare different interest rates online. This will assist you in getting a good loan deal.

    Personal Loan in Bangalore

    For those looking for an extra boost, financially speaking, either to renovate their house, pay for emergency medical bills, buy a gadget that you desire or fund a holiday, there is the option of a personal loan. Top banks and NBFCs across the country offer personal loans that are unsecured - meaning that there is no requirement for collateral. Customers wishing to avail personal loans can start by visiting the financial portal - BankBazaar. On the BankBazaar website, customers can compare the interest rates offered by its partner banks and decide on a loan from a particular bank that suits their financial situation.

    Personal Loan Offered by Various Banks in Bangalore

    Some of the leading banks and NBFCs offering personal loans at the best interest rates are listed below:

    • Standard Chartered Bank
    • Tata Capital
    • Aditya Birla
    • ICICI Bank
    • HDFC Bank
    • Axis Bank
    • CitiBank
    • Kotak Mahindra Bank
    • Oriental Bank
    • Bajaj Finserv
    • Fullerton

    How do I get a Personal Loan with the Lowest Interest Rate in Bangalore?

    When you plan to get a personal loan in Bengaluru or any other city, you can follow a few important guidelines in order to get a good rate of interest. You will also be required to do proper research before you apply for a loan. Some of the important factors that should be kept in mind for getting a low interest rate include:

    Credit score - Making sure that your credit score it above par will result in you availing a loan at a fairly good interest rate. The better your CIBIL score the lower the interest rate added to the loan and vice versa.

    Down payment - Making a down payment upward of 20% of the loan amount will result in you availing a loan at a better interest rate. The bigger the down payment, the better the interest rate.

    Debt-to-income ratio - Always ensure that your EMIs, credit bills and other debts do not cross 40% of your annual or monthly income. Having a good debt-to-income ratio will boost your chances of availing a loan with a good interest rate.

    Loan shop - Financial portals such as BankBazaar is of great help when loan shopping. On the BankBazaar website, individuals can compare loan interest rates offered by its partner banks and can narrow down on a loan with the best interest rate relative to the tenure - one that suits their budget.

    Your employment and experience - This is one factor banks and NBFCs take into consideration when approving or rejecting a loan application. If you’ve had a stable income and worked for a reputed company, it’s likely that you could very well negotiate on a decent interest rate.

    Make sure that you negotiate - Negotiating the interest rate on your loan is absolutely necessary. Most people just go ahead with the numbers set by banks and NBFCs, but making a negotiation will help you in the long run.

    Tenure - Choosing your tenure directly reflects on the interest rate added to the loan amount. Choosing a shorter tenure will result in you having a much less interest rate - though the EMIs will be considerably low. The interest rate increases with the length of the payback period.

    Personal Loan Interest Rates in Bangalore 2019

    Name of the Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.59% - 18.49% (Fixed) 2.25% (min. Rs.1149) One time fee Rs.20 lakh (Max) 1-5 Years
    CitiBank 10.99% - 15.99% (Fixed) 1% to 2.5% Rs.30 lakh (Max) 1-5 Years
    Kotak Mahindra Bank 10.99% to 24% p.a. Up to 2.5% of the loan amount along with GST or service tax Rs.50,000 to Rs.15 lakh 1 to 5 Years
    Fullerton India 11.99% to 23.99 p.a. Information not provided. Up to Rs.20 lakh for salaried and up to Rs.30 lakh for self-employed individuals 1 to 4 Years
    Bank of Baroda 11.35% - 14.35%Fixed Rs.1,000 to Rs.10,000 (One time fee) Rs.20,000 - Rs.2 lakh 4 Years (Max)
    State Bank of India 12.90% - 14.90% (Fixed) 1% (One time fee) Rs.24,000 - 15 lakh 5 Years
    Aditya Birla 11.5% - 13.25% (Fixed) Nil Rs.30 lakh (Max) 1-5 Years
    Allahabad Bank Information not provided 1.06% of loan amount Information not provided. 1 to 5 Years
    Yes Bank 14% p.a. Up to 2% (One-time fee) Rs.2 lakh to Rs.20 lakh 1 to 5 Years
    Corporation Bank 12.75% to 13.75% p.a. Up to 1.5% Minimum amount of Rs.500 Up to Rs.3.50 lakh Up to 5 Years

    Salary Requirements to Avail Personal Loans in Bangalore

    Every bank and NBFC have a certain salary requirement which customers have to meet to get a loan approval. Apart from looking at factors such as interest rate, processing fees, prepayment and so, make sure your cross check with the bank’s minimum salary requirement as well. As already mentioned, the salary requirement varies from bank to bank.

    For salaried individuals - Depending on which bank you are availing the loan from, generally the minimum salary requirement ranges between Rs.7,500 and Rs.50,000.

    Self Employed individuals - Self-employed individuals should provide proof of income of the last two financial years. Generally, the income requirement to avail a loan is between Rs.1 lakh and Rs.2 lakh (profit).

    Bangalore Personal Loan FAQs

    1. Does my CIBIL score affect the interest rate on my loan?

      Yes, your CIBIL score directly reflects on the interest rate the bank or NBFC offers you on your personal loan. The higher your credit score, the lower will be the interest rate and vice versa.

    2. Can I transfer my loan amount to another lender? What’s the process?

      A balance transfer is possible. In this case, the present lender will clear the dues and transfer the amount to a new loan with the interest as well.

    3. Is a complete foreclosure of a loan possible?

      Some banks allow it whereas other banks only allow a partial foreclosure of loans. In most cases, banks charge between 1% to 2% of the outstanding amount as foreclosure charges.

    4. What happens when all the loan dues have been cleared?

      Once the loan amount has been cleared completely, the bank will issue a No Due Certificate.

    5. Does failing to pay my EMIs affect my CIBIL score?

      Yes, failing to repay your loan on time directly reflects on your credit score.

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

        

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Bangalore Personal Loan Reviews

    • Fullerton Personal Loan
      "Need to decrease interest charges"
      0.5 4.0/5 "Great!"
      The rate of interest was high with Fullerton for 23% once I was applied for a personal loan on a last month which was processed through an online. From their end I received a call on time for verification. The sufficient amount offered for the tenure period of 2 years. Bank closed the loan process and not intimate the reason.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 17, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan from from HDFC Bank online. I received the loan amount on time and the amount they disbursed was sufficient for me. Rate of interest is a bit high but manageable I believe. I had submitted my documents online. Verification was hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2019
    • Fullerton Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I had applied personal loan from Fullerton. My application was not successful. They closed it because I am working in limited company and I don't have salary slip. I am not happy with their responses after the application. Rate of interest is also very high.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2019
    • Kotak Personal Loan
      "Not satisfactory"
      0.5 2.0/5 "Expected more"
      The person who came from Kotak Mahindra Bank for getting the documents from me, he was not aware of the documents to be submitted and he is not professional due to this reason the process got delayed for one week. Moreover am having a salary account in same bank for more than 3years. I felt, they did not provide a proper service to the existing customer.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2019
    • Fullerton Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      I have applied for a personal loan in Fullerton through online channel mean a while have arranged the money from other way so it got cancelled. There was no documents submitted. The rate of interest is higher and the processing fee is okay for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2019
    • Citibank Personal Loan
      "Best Service"
      0.5 4.0/5 "Great!"
      I have applied for Citi Bank personal loan through Online.I have not availed this loan since there was no requirement .The rate of interest and the processing fee was very high .While submitting the documents there was no difficulties ,I have got all the required details about the loan process through the agent.
      Was this review helpful? 3
      , bangalore
      Reviewed on Oct 16, 2019
    • Incred Personal Loan
      "Need to provide more loan amount "
      0.5 2.0/5 "Expected more"
      I received a call from INCRED once I was applied fro a personal loan through an online. The loan amount was sufficient for the tenure period of 3 years. At an initial offered for 3 lakhs then later they told applicable only for 2 lakhs which was low. The rate of interest was high of 24%. Closed the loan process from my end.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 14, 2019
    • Tata capital Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The process was very smooth and overall it took around 7 to 8 days. I bought the personal loan from TATA Capital. They offered me a interest rate of 13.5% which is a best offer for me so i got the loan from them. They do provide pre-closure and part payment facility.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 14, 2019
    • Incred Personal Loan
      "Not interested in Incred plan"
      0.5 2.0/5 "Expected more"
      Rate of interest is too high on Incred personal loan. Just for Rs. 1 lakh loan they are quoting the interest rate of 20%. Earlier they informed me about the interest rate is 13% and the tenure period is 2 years once the application is processed, they told me the approved amount is Rs. 75000 so that i have rejected the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 14, 2019
    • Fullerton Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for Fullerton personal loan through Online .I have not taken this loan since there was no payslips .There was no issues with the rate of interest and the processing fee .I have got all the relevant details about the loan process very clearly .If have any doubts about the loan will be getting good clarifiction as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 14, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since there was no requirement ,The agent gave all the relevant details about the loan process very clearly .I have not submitted any of my documents .There was good callback and proper response as well .I am satisfied with the service so far .
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 14, 2019
    • HDFC Bank Personal Loan
      "Need to decrease interest charges"
      0.5 5.0/5 "Blown Away!"
      I have applied for a personal loan from HDFC bank not received any call from banker for further verification.The loan amount was low I was expect for one lakh but offered only for 60k for 3 years. From bank closed the loan process due to my company was not listed.The rate of interest was 21% which was high.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 13, 2019
    • Incred Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Incred personal loan through Online .I have not availed this loan since lesser amount of 1.3 lakhs was sanctioned but i was expecting 2 lakhs hence dropped the plan.There are follow upo and proper callback from Incred as well.I have got all the details about the loan process very clearly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 13, 2019
    • HDFC Bank Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      HDFC is a good bank and my friends are having a account in that bank so i applied. I had applied the loan amount of Rs. 3 lakhs and they have offered me a interest rate of 11% and i have no idea about the processing fee. I didn't get any call from HDFC even though i uploaded all my documents.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 13, 2019
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I received a call from CITI bank on the same day once I applied for a personal loan through an online. The loan amount was sufficient for the tenure period of 2 years. The rate of interest was nominal. Since I got a loan from other source I have not process for further.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 13, 2019
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for HDFC Bank personal loan through Online and the amount got delayed. The agent gave all the information about the loan process and there was no callback and followup from bank end .while submitting the documents the process was very smooth.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 13, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I received a call from HDFC bank once I had applied for a personal loan on a previous month. The amount which was offered for a sufficient for the tenure period of 4 years. They have sanctioned the loan within 4 days. The rate of interest is nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 12, 2019
    • Incred Personal Loan
      "Need to reduce the interest rate & processing fee"
      0.5 3.5/5 "Pretty good"
      My personal loan is processed with Incred through online channel. There is no specific reason just have tried online and got the loan on the committed time and the process was very quick. The customer service is good. But the rate of interest and processing fee is on higher side.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 12, 2019
    • PaySense Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied personal loan from PAYSENSE SERVICES INDIA PRIVATE LIMITED online. I received the loan on time but I have not got sufficient loan amount. I applied for one lakh but they approved only 33 thousand. I submitted my documents online.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 12, 2019
    • Fullerton Personal Loan
      "Need to increase a loan amount"
      0.5 3.0/5 "Satisfactory"
      I was applied for a personal loan with FULLERTON on a previous month which was applied through an online. The amount which was offered for the loan amount for the tenure period of 5 years. The rate of interest was high of 13%. The loan process was closed from bank end and not intimate the reason as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 12, 2019
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