Multiple banks. Different interest rates. Call it a "conflict of interest".
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    Patna Personal Loan

    Patna is the capital of Bihar and one of the fastest growing cities in the state. Banks in the city offer personal loans for attractive interest rates and flexible tenures. Patna is home to a large number of banks and financial institutions that offer personal loans and other financial products and services. The personal loans in the city can be availed for interest rates starting from 10.99% and the tenures can range up to five years. With minimal documentation and paperless approval, getting a loan here is very convenient.
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    We found 33 Patna Personal Loan
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    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
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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
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    11.25% - 19.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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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
    100% PAPERLESS APPROVAL
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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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    Patna Personal Loan is Rated as "Great!" by 258 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Patna is the capital of Bihar, has emerged as one of the most booming cities in the state.Patna has since long been a chief agricultural business hub.Patna in the last few years has gone through a sustained growth phase owing to the ‘Green Revolution’ business, the rise of the FMCG industry and an excellent performance of the service sector.In 2009 June, the World Bank assigned Patna a 2nd position (in India) for easiness of business commencement

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.

    Documentation needed to apply for an Patna 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

    Patna Personal Loan Interest RatesUpdated on 27 May 2019

    Patna Personal Loan Details
    Interest Rate (Monthly reducing balance) 13.49% - 34%
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loan in Patna

    For those who need emergency cash, need to fund their wedding, take a trip abroad, etc., they have the option of availing personal loans in Patna from the top banks and NBFCs in the country. Before availing a personal loan, customers can make use of financial portals such as BankBazaar to narrow down on a loan offered by a particular bank - one that suits their financial situation. On the BankBazaar website, customers can compare loans offered by its partner banks and choose one offering the best interest rate and so on. Customers can also make EMI calculations on the BankBazaar website.

    Personal Loan offered by various Banks in Patna

    Listed below are the top banks and NBFCs in Patna that are offering personal loans.

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

    How do I get a Personal Loan with the Lowest Interest rate in Patna?

    Knowing the components of the loan that affect the interest rate added to the loan is important before availing one. Customers generally make the mistake of choosing the bank holding their salary account without actually loan shopping. While in this case the paperwork would be relaxes, availing a loan at the best rate might not be the case. Customers need to look at certain components before availing a personal loan - components that affect the overall interest rate added to the personal loan. If you wish to avail a loan at the lowest interest rate possible, you’d have to look into these areas.

    Credit score: The higher your credit score, the lower will be the interest rate offered to you by the bank or the NBFC. A credit score of 750 plus is ideal when availing a personal loan. If your credit score is below 750, banks usually offer personal loans at a higher interest rate.

    Down payment: Making an upfront down payment anything above 20% of the total loan amount will result in the bank offering you a lower interest rate.

    Debt-to-income ratio: Depending on your salary, most banks and NBFCs usually prefer for the loan applicant's debt-to-income ratio to be below 40% or 50%. Banks and NBFCs in most cases reject the application of a customer if the debt-to-income ratio exceeds 50% as it reduces the bank’s trust in your repaying the loan amount in time. Having a debt-to-income ratio anything less than 40% of your net monthly income will result in the bank or NBFC offering you a personal loan at a decent interest rate.

    Loan shopping: Making comparisons for loan offers from different banks and NBFCs is the right approach before availing a loan. Financial portals such as Bank Bazaar aid customers as they compare the loan offers (with the interest rate, processing fee, etc.) of all its partner banks and displays the bank or NBFC offering personal loans at the lowest interest rate.

    Your company’s reputation and your experience: Having a decent number of years of experience as well as working for a reputed company enhances the bank’s trust in your repaying the loan in time, thereby affecting the interest rate added to the personal loan. If you have worked many years at a stretch and work for a stable and well known company chances are that the bank will slash the interest rate added to your loan.

    Negotiating: Most people do not even know that this is a possibility, but making a negotiation with the bank availing you a loan on the interest rate might just get you a better deal. If you have a good past relationship with the bank, it’s a good chance that the bank will give you the best interest rate possible.

    Personal Loan Interest Rates in Patna

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.00% - 17.99% (Fixed) 2.25% (min. Rs.1149) One time fee Rs.20 lakh (Max) 1-5 Years
    CitiBank 11.49% - 15.99% (Fixed) 1% to 2.5% Rs.30 lakh (Max) 1-5 Years
    Kotak Mahindra Bank 11.49% - 20.15% (Fixed) Up to 2% Rs.15 lakh (Max) 1-5 years
    Fullerton 17.25% - 37% (Fixed) 1.5% to 6.0% (One time fee) Rs.15 lakh (Max) 1-4 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 13.10% (Fixed) 1.22% (One time fee) Rs.50,000- Rs.7.5 lakh 1-5 Years
    Yes Bank 14% (Fixed) Up to 2% (One time fee) Rs.20 lakh (Max) 1-5 Years

    Salary requirements to avail Personal Loans in Patna

    When deciding whether to accept or reject a personal loan application, banks and NBFCs take into consideration the income of the individual. During this part, the debt-to-income ratio of the applicant is taken into consideration. The salary requirements depend on the loan amount one wishes to take and varies from bank to bank.

    For salaried individuals: In general, the salary requirement - depending on the bank and type of loan - ranges between Rs.7,500 and Rs.50,000 of the applicant's monthly net income.

    For self-employed individuals: Banks and NBFCs take into consideration the self-employed individual’s income over the last two years. In most cases, the profit of the individual for the year should be between Rs.1 lakh and Rs.2 lakh for the individual’s loan application to be approved.

    Patna Personal Loan FAQs

    1. Which is the best way to pay an EMI towards a loan?

      There are several ways to pay an EMI. You can use your net banking account, credit card, debit card, etc.

    2. Tell me the best way to calculate the EMI towards a personal loan?

      You can calculate the EMI using online EMI calculators. The BankBazaar EMI calculator is accurate.

    3. Are there any foreclosure charges?

      Banks and NBFCs charge anything between 2-4% of the outstanding amount when the customer makes a foreclosure. That said, in most cases customers can make a foreclosure only 6 months after commencement of the loan.

    4. You say the credit score is taken into consideration when one avails a loan. What affects the credit score of an individual?

      Failure to pay your credit bills and loan dues in time affects the credit score of an individual. A good credit score is anything above 750.

    5. What is the maximum personal loan amount one can avail?

      Salaried individuals can avail loans anything up to Rs.25 lakh. In the case of availing a joint loan, the loan amount will increase as the income of both parties are taken into consideration.

        

    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.

    Patna Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank Personal Loan .The rate of interest and the processing fee was high as well.The agent clearly explained the process of the loan .I have not faced any issues till now .I have not taken the loan .The only suggestion is if the rate of interest and processing fee was less should receive callback from our end .The Overall Service is Good to me so far.
      Was this review helpful? 1
      , patna
      Reviewed on Apr 01, 2019
    • review Personal Loan
      "Avrage"
      0.5 3.0/5 "Satisfactory"
      I have taken at first personal loan then convert reliance bike loan I bought a fz Yamaha 2018 model through reliance last one years ; my loan amount is 70k and tenure is 3 years but rate of interested is not nominal and customer service is good ; I am happy with reliance bike loan.
      Was this review helpful? 0
      , patna
      Reviewed on Mar 23, 2019
    • Bank Bazaar Personal Loan
      "very good"
      0.5 4.0/5 "Great!"
      Customer service was good and their response was prompt. The mobile application of bank bazaar is easy to use I am using bank bazaar from last two year . Service provided by bank bazaar is good when compared to others in the market and response properly
      Was this review helpful? 0
      , patna
      Reviewed on Mar 23, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 2.5/5 "Just OK"
      my experience was not good with HDFC bank for personal loan.the loan amount was sufficient and rate of interested was nominal only they have taken more time very delay process customer service provided is not good and their response was not proper so I closed the loan .
      Was this review helpful? 0
      , patna
      Reviewed on Mar 23, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank Personal Loan .The agent explained the process of the loan .The rate of interest was high and there was processing fee as well.Ihave cancelled the plan of taking loan due to high rate of interest . Other than that the overall service is good .
      Was this review helpful? 0
      , patna
      Reviewed on Mar 19, 2019
    • Bank Bazaar Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I came to Know about Bank bazaar through online only.The i have tried to apply for HDFC Bank Personal Loan.The agent clearly explained the process as well .The rate of interest was high and processing fee was also there .Not taken the loan due to high rate of interest ,Other than that the overall service is good .
      Was this review helpful? 0
      , patna
      Reviewed on Mar 19, 2019
    • Bank Bazaar Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      The process is very fast in Bank Bazaar and immediately loan was approved . But I suggest the disbursement should be faster to get the amount on time. The agents gave me proper response on the loan experience, the mobile app is user friendly as well.
      Was this review helpful? 0
      , patna
      Reviewed on Mar 16, 2019
    • HDFC Bank Personal Loan
      "Processing time should be reduced"
      0.5 4.0/5 "Great!"
      HDFC Bank interest rate is okay for me, the documents was very hassle free. I applied loan through online channel but for the disbursement took one month of time, its got very late.They should improve their process, the loan amount is Rs. 1 lakh for the two years of tenure.
      Was this review helpful? 1
      , patna
      Reviewed on Mar 16, 2019
    • YES Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The rate of interest was 10.49%. Recently took a personal loan with YES BANK through online. The loan process was very faster and simple. They have charged me a processing fee and its high when compared with Government banks. The loan duration is 5 years.
      Was this review helpful? 1
      , patna
      Reviewed on Mar 08, 2019
    • HDFC Bank Personal Loan
      "Need to decrease the rate of interest"
      0.5 3.0/5 "Satisfactory"
      I had a personal loan in HDFC BANK and the interest rate was very high which is near about 16.49%. I took the loan before 1.5 years ago. The customer service has to be more better. The loan duration is 5 years. I have taken a loan from YES BANK to complete this loan.
      Was this review helpful? 0
      , patna
      Reviewed on Mar 08, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have applied my personal loan in bankbazaar.com. Whenever I have need of the financial products and it was easy to approach and am using the portal for more than two years. I get a regular followups from the customer service. I use their website for comparison.
      Was this review helpful? 0
      , patna
      Reviewed on Mar 08, 2019
    • ICICI Bank Personal Loan
      "Need to reduce the charges but certain things are good"
      0.5 5.0/5 "Blown Away!"
      The interest rate is little bit higher and took the personal loan in ICICI BANK before 3 months. The processing fee was 1.25% when compared to other which was bit higher and now all other banks are doing it for zero processing fee. The loan period is 3 years. The document process was better.
      Was this review helpful? 0
      , patna
      Reviewed on Mar 08, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I came to know about Bank bazaar only through Online just browsed the website and got the details about Bank bazaar no one guided and nobody informed about Bankbazaar ,browsed through the website and got details about the products and applied for the requirement ,it was a good experience according to me.
      Was this review helpful? 0
      , patna
      Reviewed on Feb 12, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Personal loan and the rate of interest i faced an issue and the processing fee is very high and 1300 was deducted from my loan amt and not yet got any reason for that and once loan is sanctioned 7700 was deducted for that deduction also not yet received the reason on what basis the amount got debited ,document collection not faced any difficulties and rest of the service is good .
      Was this review helpful? 0
      , patna
      Reviewed on Feb 12, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I came to know about Bankabazaar only through the advertisement . I have applied for Personal Loan selected HDFC Bank and it was a good experience ,the overall service is good and nice as per my experience till now ,not yet faced any difficulties got all the details clearly and it is satisfactory.
      Was this review helpful? 0
      , patna
      Reviewed on Feb 12, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Pl there processing fee is very high since they mentioned 5000to 6000 575000,tenure is for 3yrs ,the agent clearly explained about the personal loan , rate of interest is nominal ,not faced any difficulties ,amount is little will recommend friends and relatives as well.
      Was this review helpful? 1
      , patna
      Reviewed on Feb 12, 2019
    • Bank Bazaar Personal Loan
      "Better App"
      0.5 5.0/5 "Blown Away!"
      Started using the bankbazaar website for last 1 year. I have installed the app in my mobile. I used to receive a regular promotional emails from bankbazaar people. The app is working fine and good. Bankbazaar is giving me a time to time good rate of Interest. I can apply any types of loan hence its easy process to apply the loan.
      Was this review helpful? 1
      , patna
      Reviewed on Jan 18, 2019
    • HDFC Bank Personal Loan
      "Better loan experience"
      0.5 5.0/5 "Blown Away!"
      I have applied the personal loan with HDFC bank but they have declined the loan because recently i have bought the other loan with them. They have offered me a interest rate of 13% and I'm okay with it. They have deducted the processing fee which is convenient to me. Overall, i'm satisfied with the HDFC services.
      Was this review helpful? 0
      , patna
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I received an email from bankbazaar which had a link and i applied through it. My first time experience was good with bankbazaar. Customer service was fine with bankbazaar and their response was good. The website of bankbazaar is easy to use and is user friendly.
      Was this review helpful? 1
      , patna
      Reviewed on Nov 01, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience was good with HDFC bank for personal loan, i received my loan amount on time. I have taken loan for Rs 3 lacs with nominal interest rate when compared to others. Customer service was good and they followed up on time. The tenure period for this loan is 5 years.
      Was this review helpful? 0
      , patna
      Reviewed on Nov 01, 2018
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