• Bangalore Personal Loan

    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 18 Bangalore Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.50% One time fee
    40L Max
    1 - 5 Years
    Ad 100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    Zero Processing Fee
    25L Max
    1 - 5 Years
    Ad 100% PAPERLESS APPROVAL
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    25.00% - 32.00% Fixed
    3.00% One time fee
    75K - 5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Bankbazaar Exclusive
    20L Max
    1 - 6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    1L - 5L
    Upto 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    25L Max
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    50K - 2L
    Upto 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    50K - 25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    30L Max
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    15L Max
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    50K - 7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
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    17.00% - 26.00% Fixed
    2.00% One time fee
    2L - 20L
    0.5 - 4 Years
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    Bangalore Personal Loan Interest Rates

    Updated on 11 Jul 2020

    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.

        

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    Bangalore Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken personal loan from HDFC bank as I need some loan for personal reason. It was nice because the loan was sanctioned on time.The interest rate is 13%. The tenure of the loan is for 4 years but it have completed only 1.5 years. I got my loan easily without any delay.
      Was this review helpful? 17
      , bangalore
      Reviewed on Mar 21, 2020
    • review
      review Personal Loan
      "Need to learn how to behave with the customer"
      0.5 1.0/5 "Really Bad"
      I have taken a personal loan from Bajaj finance and the loan amount was Rs. 30K. I opted for the tenure of 1 year but they did for 3 years and also they have misused my details, i dint given my bank account number. I have purchase for Rs. 10k but they are called me for100 times and they are saying cheque bounce charges i need to pay, same problem my cousin brother also faced and i blocked this service. Customer service need to improve whenever i called getting hindi speaking, i am comfortable with Kannada, Tamil and English.
      Was this review helpful? 4
      , bangalore
      Reviewed on Mar 20, 2020
    • HDFC Bank Personal Loan
      "Interest rate was high"
      0.5 4.0/5 "Great!"
      Since I don't have a salary slip which i unable to get it from my company, personal loan application got closed by bank. Person from HDFC bank called me and informed that my loan has been closed. The customer service was good but the rate of interest is very high.
      Was this review helpful? 11
      , bangalore
      Reviewed on Mar 20, 2020
    • ICICI Bank Personal Loan
      "Instant loan approval"
      0.5 5.0/5 "Blown Away!"
      The rate of interest was nominal in ICICI Bank and the loan amount was Rs.1,00,000 and i have completed for one year. I have an account with this bank based on this i got this loan offer and that process was very easy instantly it got approved loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 18, 2020
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have not faced any difficulties when applied for HDFC Bank personal loan .The rate of interest and processing fee was an issue .The reason was not shared to me for what purpose this loan was not sanctioned and documents are not submitted. There was no callback and follow up from bank end .
      Was this review helpful? 6
      , bangalore
      Reviewed on Mar 18, 2020
    • HDFC Bank Personal Loan
      "Average Service "
      0.5 3.0/5 "Satisfactory"
      I have applied for HDFC personal loan through online .I have not availed this loan since the rate of interest was very high .There was good cooperation from bank end .The agent shared all the details about the loan process.There was proper callback and follow up from bank end .I have submitted the documents through the agent .The service was average according to my experience.
      Was this review helpful? 4
      , bangalore
      Reviewed on Mar 18, 2020
    • HDFC Bank Personal Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      On 2 years before I got a personal loan from HDFC bank so I opted for the same. I got the loan amount of 4L with tenure period of 4 years. On starting of the month I use to pay EMI amount of 10K. The rate of interest is 11%. The processing fee was deducted of 3K. They have provided pre closure option locking period of 6 months with some charge.
      Was this review helpful? 4
      , bangalore
      Reviewed on Mar 17, 2020
    • Citibank Personal Loan
      "Need to decrease interest rate "
      0.5 2.0/5 "Expected more"
      I got a call on delayed basis from CITI bank after one week for a personal loan process. The loan amount was nominal with tenure period of 4 years. The rate of interest is high, it would be less than 15% which is fine so that have closed the loan process from my end.
      Was this review helpful? 3
      , bangalore
      Reviewed on Mar 17, 2020
    • Tata capital Personal Loan
      "Need to decrease rate of interest "
      0.5 3.0/5 "Satisfactory"
      The rate of interest is very high of 20% from TATA CAPITAL when I applied a personal loan. They have offered me amount of 96K but before it was 1.30L which I am okay with tenure period of 3 years. They were saying to provide current address proof but I was not having at that time so the process was closed from bank end.
      Was this review helpful? 5
      , bangalore
      Reviewed on Mar 17, 2020
    • Tata capital Personal Loan
      "Interest rate was high and its easy loan approval "
      0.5 4.0/5 "Great!"
      The rate of interest was very high 20.5% in TATA CAPITAL for the personal loan . The loan amount was Rs. 1,50,000 and i am paying emi of Rs.7,800 with the tenure of 24 months. Documentation was very simple, I have submitted to the executive and i received the card in 1 week.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 15, 2020
    • Incred Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      My personal loan was availed through Incred and there was no difficulties faced so far. This loan was taken for personal use and they have sanctioned immediately .There was proper callback and follow up from bank end .while trying to pay the emi through onine, it was showing error which needs to be rectified.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2020
    • Incred Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      The personal loan got sanctioned on time, the processing fee and the rate of interest was very high with INCRED but when applied for this loan there was some variation later it was high which am unhappy. I have submitted the documents as well as uploaded online. This loan was taken for personal use and satisfied with the service.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 13, 2020
    • Incred Personal Loan
      "Need to reduce the interest rate"
      0.5 1.0/5 "Really Bad"
      I'm not satisfied with the interest rate provided by Home credit because I'm paying 28% for the loan amount of Rs. 90000 but in the beginning they told me that its 18% interest rate afterwards they have added extra interest without my knowledge hence I call its a hidden interest. Its because of the emergency medical issue, i have taken this loan otherwise would have preferred others. They have sanctioned the loan immediately.
      Was this review helpful? 4
      , bangalore
      Reviewed on Mar 13, 2020
    • Vijaya Bank Personal Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      VIJAYA Bank offered me a personal loan and the loan amount was Rs. 3,00,000. I was taken 3 years back and it closed now, the rate of interest and processing fees was normal and i fully paid emis. This bank has a good customer service and i will recommend this to others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2020
    • Tata capital Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My personal loan was sanctioned on time by Tata capital .The agent clearly shared all the details about the loan process .when customer approach, they need to handle the customer properly. Mobile app is not accurate and it does not have complete information. I have submitted the documents through the agent .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2020
    • Bajaj Finserv Personal Loan
      "Don't trust bajaj executive every time"
      0.5 2.0/5 "Expected more"
      I got a personal loan offer from Bajaj finance once i finished the consumer durable loan with them. After i got the loan only, they are informing me about the interest rate and processing fee. They have provided me a interest rate of 28% and processing fee is 2% with the tenure period of 36 months. If they reduced the rate of interest, it will be fine for us.
      Was this review helpful? 3
      , bangalore
      Reviewed on Mar 13, 2020
    • Incred Personal Loan
      "Best loan compared to others"
      0.5 5.0/5 "Blown Away!"
      I'm very satisfied in getting the personal loan from Incred. These people are helping me a lot and within a month, i have got the loan. Compared to other bank, Incred is providing very less rate of interest. I have applied the loan amount of Rs. 3.5 lakhs and they have sanctioned the amount of Rs. 2 lakhs depends on the credit score and the company where i work. If they are providing the same amount what customer ask, it will be good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2020
    • IndusInd Bank Personal Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan through indusind bank .Mobile app is not working properly and the agent gave a clear picture about the loan process .The rate of interest and the processing fee was nominal .This loan was taken for personal use and this loan was sanctioned on delay basis .There was proper callback and follow up from bank end as well as online .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 12, 2020
    • Incred Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My personal was taken through incred which was taken through online .This loan was sanctioned on time without any delay .The agent shared all the relevant details about the loan process.I have submitted the documents through the agent and the premium is paid on correct time .everything was good to me so far and i am satisfied with the service .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 12, 2020
    • Tata capital Personal Loan
      "Better Loan Service"
      0.5 4.0/5 "Great!"
      There is no particular reason for choosing my personal loan from TATA Capital. They have explained me about the interest rate and processing fee. I have taken the loan amount of around Rs. 2.10 lakhs but i had applied for Rs. 3 lakhs because this is the eligible amount for my profile.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 12, 2020
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