• Bhopal Personal Loan

    Bhopal is the capital city of Madhya Pradesh and houses a variety of banks that can help you meet your immediate financial requirements through attractive personal loans. Whether you need funds for your wedding or education, medical expenses or travel, personal loans in Bhopal can help you meet your expenses with ease. Interest rates start from as low as 9.30% and the tenures extend up to 5 years, thereby making it easy for you avail as well as repay your personal loan. The loans are offered by banks, credit unions, and other financial institutions on an ongoing basis.
    More
    We found 19 Bhopal 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
    Up to Rs.40L
    1 - 5 Years
    Ad 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.00% - 16.75% Fixed
    Up to 3.50% One time fee
    Up to Rs.5L
    Up to 5 Years
    Ad 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    15.00% - 21.00% Fixed
    3.00% One time fee
    Rs.1L - Rs.3L
    Up to 3 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Customer Reviews
    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Documentation needed to apply for an Bhopal 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

    Bhopal Personal Loan Interest RatesUpdated on 02 Jul 2022

    Bhopal Personal Loan Details
    Interest Rate (Monthly reducing balance) 9.30% p.a. to 16.75% p.a.
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loans in Bhopal

    Bhopal, has a number of leading banks and NBFCs which offer personal loans to customers so that their financial needs and requirements are met. These loans are offered at affordable rates with interest rates varying from one lender to another.

    Personal Loans offered by various banks in Bhopal

    Some of the prominent financial institutions that are located in Bhopal that offer personal loans at attractive interest rates are listed below:

    • Citibank
    • Standard Chartered
    • IndusInd Bank
    • Kotak Business Loan
    • Capital First
    • Oriental Bank
    • HDFC Bank
    • Kotak Mahindra

    How to Get a Personal Loan with the Lowest Interest Rate in Bhopal

    When you want to apply for a personal loan in Bhopal, there are a few factors which you need to keep in mind as they can play an important role in securing your loan. The format and information provided in your application letter plays a vital role in having a personal loan sanctioned as well as the interest rate offered on the loan amount.

    Personal loans can be quite easy to apply for with a hassle-free procedure. But there are a few factors that you will have to address and be cautious about when applying for a loan.

    A good credit score is a key factor and plays a vital role when applying for a loan. A credit score of 750 and above is considered as a good credit score to have and this plays a big role in getting your application for a personal loan approved. The interest rate is also dependent on this criteria. A credit score that is higher than the benchmark that has been set by banks will fetch a lower interest rate for your loan Paying off any unpaid premiums or loans is a good way to increase your score.

    Another important point to take into consideration is that you should make sure that you do sample amount of research. You have to have a clear idea about the banking institution from where you want to apply for the loan.

    Personal Loan Interest Rates in Bhopal 2022

    There are a number of major public and private sector banking institutions that offer personal loans to the residents of Bhopal. Listed below are some of the banks in Bhopal and their interest rates:

    Bank Interest Rate Range Loan Amount Tenure
    Standard Chartered 11.49% p.a. onwards Up to Rs.30 lakhs Up to 5 years
    Citibank 9.99% p.a. onwards Up to Rs.30 lakhs Up to 5 years
    Capital First 10.49% p.a. onwards Up to Rs.15 lakhs Up to 5 years
    TATA Capital 10.99% p.a. onwards Up to Rs.25 lakhs Up to 6 years
    IndusInd Bank 11.99% - 19% p.a. Up to Rs.25 lakhs Up to 5 years
    Oriental Bank 11.50% p.a. onwards Up to Rs.10 lakhs Up to 5 years
    HDFC Bank 10.75% p.a. onwards Up to Rs.25 lakhs Up to 5 years
    Aditya Birla 13.00% p.a. - 28.00% p.a. Up to Rs.15 lakhs Up to 5 years
    Fullerton 11.99% p.a. to 23.99% p.a. Up to Rs.15 lakhs Up to 4 years
    Kotak Mahindra 10.25% p.a. onwards Up to Rs.15 lakhs Up to 5 years
    Bank of India 13% p.a. -14% p.a. Rs.10,000-Rs.5 lakhs Up to 3 years
    Bank of Baroda 10.50% p.a. onwards Rs.20,000 to Rs.2 lakhs Up to 4 years
    Tamilnad Mercantile 14.05% p.a. Up to Rs.10 lakh Up to 5 years
    Central Bank 9.85% p.a. onwards Up to Rs.10 lakhs 4 years
    IDBI Bank 9.50% p.a. onwards Up to Rs.5 lakh Up to 5 years
    IOB 9.50% p.a. onwards Up to Rs.5 lakh Up to 5 years
    Karur Vysya 9.40% p.a. onwards Up to Rs.10 lakhs Up to 5 years
    HDBFS 16.75% p.a. Up to Rs.20 lakhs 1-5 years
    SBI 9.60% p.a. onwards Rs.24,000 to Rs.15 lakhs Up to 5 years
    UCO Bank 10.30% p.a. onwards Up to Rs.10 lakhs Up to 5 years
    Union Bank 9.30% p.a. onwards Up to Rs.15 lakhs Up to 5 years
    Yes Bank 10.99% p.a. onwards Up to Rs.20 lakhs Up to 5 years

    Salary Requirements to Avail Personal Loans in Bhopal

    There are a few factors that a banking institution has to consider when they receive a loan application. One criteria that they look for is your capability to repay the loan amount that you have borrowed. The salary requirements needed to repay a loan amount has been listed below:

    • The applicant should be a resident of Bhopal for a minimum period of 1 year.
    • A salaried individual should earn a minimum monthly income of Rs.15,000. The minimum monthly income requirement will vary from one lender to another.
    • The applicant should have a minimum work experience of 2 years.
    • The applicant should not be younger than 21 years.
    • The applicant should not be older than 60 years.
    • Applicants will be required to submit a couple of documents like bank statements, address proof, identity proof, etc.

    FAQs on Bhopal Personal Loan

    1. How long does a bank take to approve an application for a personal loan?
    2. There are some banks that approve loan applications within 48 hours and there are other banks that take at least a week. Usually a loan application is approved within two and seven working days.

    3. How is a personal loan repaid?
    4. The personal loan can be repaid my paying the loan amount back to the bank in the form of Equated Monthly Instalments (EMIs) via post-dated cheques. You could even link your debit account to your loan if you have taken a loan from a bank where you have a savings bank account. The amount that you need to pay as EMI will automatically get deducted from your savings account.

    5. Can I get the balance transfer facility with my personal loan?
    6. Availing a balance transfer facility depends on the bank. There are some banks that offer the balance transfer facility if the customer has made at least 12 EMI payments. It is advisable that you check with your bank before you apply for the loan.

    7. Are there any additional charges that an applicant has to pay when he/she gets a personal loan from a bank?
    8. Yes, there are a couple of different additional charges. Most banks charge an applicant an interest fee that ranges from 2% to 2.5% of the total amount that they wish to borrow. The fee is deducted from the amount that has to be disbursed to you.

    9. Can I receive Tax Benefits on my personal loan?
    10. Unless the personal loan is used for a home renovation project, tax benefits are not associated with personal loans. You can, however, avail tax benefits under Section 24 of the Income Tax Act on the interest that is paid on the loan but not on the principal amount that is paid.

        

    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.

    Bhopal Personal Loan Reviews

    • Experian
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through Home credit India Finance private limited .I came to know about this finance company through my friends as well as through online .The rate of interest and the processing fee are high due to my requirement I availed this loan. This loan was sanctioned on time and there was no extra charges for the premium paid on delay basis.
      Was this review helpful? 1
      , bhopal
      Reviewed on Jan 21, 2020
    • Tata capital
      Tata capital
      "Make efficient"
      0.5 3.0/5 "Satisfactory"
      I applied for Tata capital personal loan through online. I request for the loan amount of Rs.75,000. I have not received any call for further process. I wish bank to give a proper response for the application and to reduce the rate of interest.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jan 04, 2020
    • HDFC Bank
      "Average"
      0.5 2.5/5 "Just OK"
      My requirements has been fulfilled personally so have not taken a personal loan from HDFC BANK. Their services are average. Already my personal loan is running with HDFC BANK and they are not deducting the EMI properly so have been paying late payments. Even their interest rate is high.
      Was this review helpful? 0
      , bhopal
      Reviewed on Oct 16, 2019
    • HDFC Bank
      "Average Loan service"
      0.5 3.0/5 "Satisfactory"
      No contact from their end after i applied the loan from HDFC. I applied the loan amount of Rs. 5 lakhs and as i discussed in last month now I'm not aware of the interest rate provided by them. There is no proper follow up from HDFC even though i am holding the savings account with them.
      Was this review helpful? 0
      , bhopal
      Reviewed on Oct 04, 2019
    • Fullerton
      "Good Choice"
      0.5 5.0/5 "Blown Away!"
      I am not interested to take the personal loan, hence I have cancelled the Fullerton application. There is no difficulties faced with their end, the follow up and response is good. Even I am very much fine with their overall experience, so I definitely recommend this to others.
      Was this review helpful? 0
      , bhopal
      Reviewed on Sep 29, 2019
    • Fullerton
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I was 3 months in bed rest and due to that I was unable to make my credit card payment but post that I had made the payment but they had decreased my cibil score, so due to this my application was been unable to process for personal loan from Fullerton team.
      Was this review helpful? 0
      , bhopal
      Reviewed on Sep 28, 2019
    • Fullerton
      "Best Service"
      0.5 2.0/5 "Expected more"
      I have applied for Fullerton personal loan through Online .I have not availed this loan since had an issue on uploading documents hence dropped the plan.I have got a clear picture about the loan process through the agent.There was no issues with the rate of interest and the processing fee .
      Was this review helpful? 0
      , bhopal
      Reviewed on Sep 25, 2019
    • HDFC Bank
      "Need to decrease charges"
      0.5 4.0/5 "Great!"
      I was applied for a personal loan with HDFC bank through an online process. Once applied for the loan I received a call on time from bank on time. The loan amount was sufficient for the tenure period of 3 years. The rate of interest was high for 13% and the processing fee for 2800.
      Was this review helpful? 0
      , bhopal
      Reviewed on Sep 15, 2019
    • HDFC Bank
      "Excellent"
      0.5 4.0/5 "Great!"
      I had applied for personal loan from HDFC Bank on a month before. Rate of interest and processing fee are nominal. Since I am holding a salary account for many years, loan got disbursed on time and with amount is sufficient for the tenure period of 3 years.
      Was this review helpful? 1
      , bhopal
      Reviewed on Aug 10, 2019
    • HDFC Bank
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had selected HDFC BANK for the personal loan since the interest rate which they where offering was comparatively less than the other banks. The process was good where the loan was disbursed on time, the processing fee and charges has been quite good and the customer support team had been helpful.
      Was this review helpful? 4
      , bhopal
      Reviewed on Apr 21, 2019
    • HDFC Bank
      "Interest rate should be reduced"
      0.5 4.0/5 "Great!"
      HDFC bank charged high interest around 16% for the loan amount of Rs. 1.50 lakhs, I took the loan for the period of one year. The process was very easy and flawless because the field elective came to my place and helped on the documentation, I am happy about it.
      Was this review helpful? 0
      , bhopal
      Reviewed on Apr 05, 2019
    • HDFC Bank
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The documentation process was simple and the loan took 20-25days to be credited into the account. The loan amount was sufficient that they have offered with this bank and there was a processing fee of 19K which was higher than others. The monthly EMI was 12k approximately.
      Was this review helpful? 0
      , bhopal
      Reviewed on Mar 22, 2019
    • HDFC Bank
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      MY experience was good with Hdfc bank for personal loan. I got the loan amount after 6 to 7 days after approval . The loan amount was sufficient and rate of interest was nominal when compared to others. The customer service was good and the response was on time. My loan amount is 200000 Lakh. The tenure is for 4 years. The EMI is of 5642.
      Was this review helpful? 0
      , bhopal
      Reviewed on Mar 08, 2019
    • HDFC Bank
      "AVERAGE"
      0.5 2.0/5 "Expected more"
      There is no particular reason for taking the personal loan with the HDFC BANK the documentation process was not easy and it took more than a month to get the loan. The loan amount was 75K and the rate of interest was 27% with this loan which is higher.
      Was this review helpful? 1
      , bhopal
      Reviewed on Mar 08, 2019
    • HDFC Bank
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      It was a fine experience with HDFC bank for personal loan, the process was smooth and i received my loan amount within 1 week. Customer service was good and they responded on time. Rate of interest was nominal when compared to others. Loan amount was for Rs 1 lac and the tenure period was for 2 years
      Was this review helpful? 1
      , bhopal
      Reviewed on Jan 21, 2019
    • HDFC Bank
      "Looking for less interest rate"
      0.5 3.5/5 "Pretty good"
      It was a fine experience with HDFC bank for personal loan, the process was smooth and i received my loan amount within 1 week. Customer service was good and they responded on time. Rate of interest was high when compared to others. Loan amount was for Rs 1.5 lacs and the tenure period was for 5 years.
      Was this review helpful? 1
      , bhopal
      Reviewed on Dec 05, 2018
    • Standard Chartered Bank
      "Good service "
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with standard chartered bank.I had requested for loan amount of 4 lakhs.Rate of interest is nominal as compared to others.The application got rejected because of the address proof mismatch hence bank has closed the application.
      Was this review helpful? 0
      , bhopal
      Reviewed on Nov 02, 2017
    • Capital First
      "good service"
      0.5 4.0/5 "Great!"
      I have been taken a personal loan with CAPITAL FIRST for a long time and, I have been paying around 1340 monthly as a premium amount for CAPITAL FIRST ,the customer service was good ,it was very good service from CAPITAL FIRST for my personal loan process.
      Was this review helpful? 0
      , bhopal
      Reviewed on Oct 27, 2017
    • Axis Bank
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the personal loan with the Axis bank and the interest rate is around 12.5%. Within seven days of time, the loan amount got disbursed. I would like to say that the response was an average one with them.
      Was this review helpful? 2
      , bhopal
      Reviewed on Oct 13, 2017
    • Fullerton
      "Average"
      0.5 3.0/5 "Satisfactory"
      Customer service was good one with the Fullerton and the response was fine with them for the personal loan. I am totally happy with the Fullerton and I don't have any issues with them.
      Was this review helpful? 1
      , bhopal
      Reviewed on Oct 13, 2017
    Common Loader Icon
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.