Multiple banks. Different interest rates. Call it a "conflict of interest".
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    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 33 Bangalore Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.75% - 18.00% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
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    20% - 22%  Fixed
    2.50%
    2L Max
    1-3 Years
    Response Time : Within 30 minutes
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    Response Time : Within 30 minutes
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    11.25% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.25% - 19.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
    Response Time : Within 30 minutes
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
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    11.25% - 22.00% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    Bangalore Personal Loan is Rated as "Great!" by 23634 Users

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    Bangalore Personal Loan Interest Rates

    Updated on 20 Jun 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.

        

    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

    • ICICI Bank Personal Loan
      "Okay loan services"
      0.5 4.0/5 "Great!"
      The interest rates are little bit high when i compared to with other bank in ICICI. Since i had a account with ICICI, i have chosen them for my personal loan. They have offered me a interest rate of 15% for the loan amount of Rs. 3 lakhs. I have selected the tenure period of 4 years. They have pre-closure facility which can be done after 3 months after taking the loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 19, 2019
    • Bajaj Finserv
      Bajaj Finserv Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I have taken 2 personal loans with Bajaj Finserv. The interest rate is more than HDFC BANK but some services are good. They are not charging for partial payment and fore closure. I have opted the loan for 2 years and 3 years. One have recently closed. I would suggest them to reduce the interest rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • HDFC Bank Personal Loan
      "Need to reduce the charges"
      0.5 4.0/5 "Great!"
      I took a personal loan with HDFC BANK and the process is easy to get the loan since am maintaining my salary account. They have provided me almost 5L and according to the eligibility. The loan process was faster and the amount credited within a day. The interest rate is average but the charges like processing fee and pre closure are high
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Bank Bazaar Personal Loan
      "User friendly app"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is supporting very well and they have given multiple options at one platform where the customer can choose the financial products according to their requirements. I have used the site for a first time and the website is user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • IndusInd Bank Personal Loan
      "Better "
      0.5 3.0/5 "Satisfactory"
      Actually the interest rate is too high around 12% so have canceled the personal loan with Indusind Bank Ltd and processed with other bank. Their customer service is good. I have submitted the documents to the executive and it was doorstep service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Bank Bazaar Personal Loan
      "very Good"
      0.5 4.0/5 "Great!"
      I came know about bank bazaar.com through social media using through mobile application before 3 months , customer service is good and service. To check credit score and financial products through online. I will recommended to my friends and relatives.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • HDFC Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the loan from last 2 years the loan amount was 1l and the rate of interest was 11-12% and cleared the amount within 2 years. I got no NOC and yet to apply. The customer support and responsiveness is good. The documentation process was simple and there was a processing fee was applicable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Bank Bazaar Personal Loan
      "USERFRIENDLY PORTAL TO USE"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is the first time experience and i came to know through the Internet search, i prefer using through the mobile application as it is easy and comfortable to access the portal. The customer support and responsiveness is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Kotak Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      The response is good with this bank so i have applied the personal loan with this KOTAK MAHINDRA BANK. The reason is outstanding amount is pending with another loan. The loan amount expected for 3L and the rate of interest was 19% in this loan. The duration is for 4 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Kotak Personal Loan
      "Need improvement "
      0.5 3.5/5 "Pretty good"
      I have selected kotak mahindra personal loan amount sanction 2 lakhs, Rate of interest 16 % and one time processing applicable, EMI Rs 9000 and Tenure 2 year, Customer service good and responsive. While submitted document through online. I arrange loan some other source.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Bank Bazaar Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I was aware about this Bank bazaar portal through Mail .The ,I have not faced any drawbacks so far on using this portal .I am very much convenient on using this website ,This portal is very useful since can explore all financial products as well . This portal is really doing a a good service .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • IndusInd Bank Personal Loan
      "Good Service"
      0.5 2.0/5 "Expected more"
      I have applied for Indusind Bank personal loan through Online .The rate of interest and the processing fee was nominal .I have submitted the documents through the agent .I have got the loan amount within 2 to 3 working days .I am satisified with the service .The loan is still active .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • IndusInd Bank Personal Loan
      "Good Loan"
      0.5 4.0/5 "Great!"
      In Indusind bank, they said that i will get a loan in 1 day but the loan got sanctioned after 5 days. After collected the documents, it took more time for verification purpose. Since indusind bank approached me first, i have selected them. They have offered me a interest rate of 12% and their services are okay.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Bank Bazaar Personal Loan
      "USERFRIENDLY PORTAL TO USE"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is the first time experience and i came to know through the website as it is good and faced with no issues it is hassle free to apply the loan, i prefer using through the mobile application it is easy to use. The customer support is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • Bank Bazaar Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I came to know about Bank bazaar service through on line, This was my first experience with them, they have co-ordinate with me well, their website and mobile application is user friendly, it is easy to apply through them. Their overall service is quite average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • HDFC Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The reason for applying the loan is because it is a good bank also the branch is nearest. The documentation process was done through online also it was smooth and simple. The loan got rejected due to lower salary. The loan amount expected was 1L and the rate of interest was 11.5-12.5% approx. The duration for 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • HDFC Bank Personal Loan
      "Higher interest in HDFC"
      0.5 2.0/5 "Expected more"
      Since they were asking me about the local address which i'm not able to provide. One of my friend who took the loan for 10.75% for the interest hence i have applied with the HDFC bank but they have provided me a interest rate of 18.25%. I have applied the loan amount of Rs. 2 lakhs. Customer care support team response was nice and they spoke very nicely.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2019
    • HDFC Bank Personal Loan
      "Process is good"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HDFC bank. The process is good and I received the loan on time. The documentation process was not there as I got it online with just a click away. The rate of interest and processing charges is nominal. I am happy with the service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2019
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience with ICICI Bank for the personal loan and I received the loan on time and I also got the loan as needed. There was no documentation process involved. The rate of interest is and the processing fee was normal. More than satisfied.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 18, 2019
    • Axis Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have selected through Axis bank personal loan amount 3 lakhs and tenure 5 years, EMI 6900, one time process is applicable RI 12.99% . Documents submitted through executive so there is no delay disbursal loan amount customer service is good and responsive.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 18, 2019
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