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  • Patna Personal Loan

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  • 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 17 Patna 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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    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
    What you'll love
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    Fees & Charges
    Good to Know
    Customer Reviews
    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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    Good to Know
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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
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
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    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    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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    Perks
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    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 24 Oct 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.

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

        

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    Patna Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Need to decrease interest charges"
      0.5 4.0/5 "Great!"
      I applied for a personal loan with HDFC bank through an online. I received a call from bank on time for further verification and they offered with good amount for the tenure period of 3 years. From my end closed the loan process due to high rate of interest.
      Was this review helpful? 0
      , patna
      Reviewed on Oct 06, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan which was taken through online .I have not availed the loan since there was no requirement.I have not submitted any documents ,There was no issues with the rate of interest and the processing fee.I am really satisfied with the service.
      Was this review helpful? 0
      , patna
      Reviewed on Oct 04, 2019
    • HDFC Bank Personal Loan
      "Best 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 no requirement .I was not having any difficulties with the rate of interest and the processing fee ,I have not submitted the documents ,There was no callback and follow up from bank end.
      Was this review helpful? 0
      , patna
      Reviewed on Oct 04, 2019
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had applied for HDFC Bank personal loan where I dropped my application due to I was very much in urgent of need of money, so I had planned to drop the application and applied with other Bank, but customer service from the HDFC Bank is very good.
      Was this review helpful? 0
      , patna
      Reviewed on Sep 20, 2019
    • YES Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      YES bank gave me the least rate of interest than HDFC, they quoted me 10.25% for per annum. The loan process was hassle free through online channel then within two days I have received the principal amount of Rs. 6.5 lakhs with the duration of five years.
      Was this review helpful? 0
      , patna
      Reviewed on Sep 20, 2019
    • HDFC Bank Personal Loan
      "Rate of interest should be reduced"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank rate of interest is higher than YES bank for personal loan, they told 14.52% but in YES bank quoted me for 10.25% per annum. It would be great if HDFC bank reduced the interest so many customer can avail. Apart from that there is no service related issue with the bank. I am a regular customer of HDFC bank anyway.
      Was this review helpful? 0
      , patna
      Reviewed on Sep 20, 2019
    • HDFC Bank Personal Loan
      "Good bank for personal loan "
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan from HDFC bank and i have purchased the loan almost 2 years before. I had chosen this bank because of the easy approach from the bank for the personal loan service. I'm satisfied with the interest rate provided by them.
      Was this review helpful? 0
      , patna
      Reviewed on Sep 18, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I had applied for applied for HDFC personal loan where the rate of interest was high so due to this I had dropped my plan to apply for personal loan with any other bank and I had taken the tenure of 5 years but HDFC bank customer service was good and made good followup.
      Was this review helpful? 0
      , patna
      Reviewed on Sep 01, 2019
    • HDFC Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had applied for HDFC personal loan through online but didn't got any update on my application. I have not got proper response, so I have not taken the loan. There where no difficulties faced, when I had applied for this loan, According to me service was average.
      Was this review helpful? 1
      , patna
      Reviewed on Aug 23, 2019
    • HDFC Bank Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      Ive applied for HDFC personal loan but didn't received any update on my application from the banker. Bank needs to improve customer care service to update customer for their application status, tried to call up customer care service but no proper response.
      Was this review helpful? 1
      , patna
      Reviewed on Aug 23, 2019
    • HDFC Bank Personal Loan
      "Response should be improved"
      0.5 2.0/5 "Expected more"
      When I applied for personal loan through online, I didn't get any response from HDFC bank so I am unable to submit the papers as well. I just done only online documents but no body ready to pick up the hard copy finally it got rejection hence I am not aware.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 22, 2019
    • HDFC Bank Personal Loan
      "Good Loan service"
      0.5 3.5/5 "Pretty good"
      My account is over there in HDFC thats the reason i opted the personal loan with them. The given interest rate was 11.5% which is convenient for me. I'm not sure about the processing fee anyway it was nominal. Where I'm working, they are providing the salary slip hence without the salary slip, they cannot processed the loan.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 22, 2019
    • Axis Bank Personal Loan
      "Nned to decrease charges"
      0.5 3.0/5 "Satisfactory"
      1 year before, taken my personal loan from Axis bank which was processed directly to bank few days they have sanctioned the loan. When I took the loan, rate of interest is 16.75 which is high for this loan as well and processing fee is okay. They have sanctioned the loan within for 2 lakhs 50 thousands for the tenure of 5 years.
      Was this review helpful? 2
      , patna
      Reviewed on Aug 13, 2019
    • Axis Bank Personal Loan
      "Need to decrease interest charges"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with AXIS bank on 3 years before which was processed through bank directly. The amount which was given sufficient of 2 lakhs 85 thousands for the tenure period of 5 years. The rate of interest of 17.75% and processing fee are high for this loan. I use to do payment for an EMI of 5000 rupees.
      Was this review helpful? 1
      , patna
      Reviewed on Aug 13, 2019
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with HDFC bank more than a month which was processed through an online. The verification went on smooth and sanctioned the loan on time. The amount was sufficient for the tenure period of 5 years. The rate of interest and processing fee are nominal.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 13, 2019
    • HDFC Bank Personal Loan
      "HDFC is a best bank to have a loan"
      0.5 5.0/5 "Blown Away!"
      HDFC personal loan is a best loan because the amount came to my account in a very much fast thats the reason i like HDFC. It was smooth process. They have provided me a interest rate little bit high from the market but i do not have any issue on that. They have sanctioned the loan amount of Rs. 2 lakhs and they have deducted some processing fee from the principle amount.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 06, 2019
    • HDFC Bank Personal Loan
      "Need to decrease charges"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HDFC bank on 2 months before which was processed through an online. The loan amount of 2 lakhs 52 thousands which was given from bank, the process was smooth and sanctioned the loan on time for the tenure period of 1 year. The rate of interest and processing fee of 5 thousands which are high.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 06, 2019
    • HDFC Bank Personal Loan
      "Need to decrease charges"
      0.5 3.0/5 "Satisfactory"
      I was applied for a personal loan in HDFC bank more than one month before. On time I received a call for a verification process. The amount of sufficient which was offered from bank for the tenure of 4 years. The rate of interest of 14 % and the processing fee are higher. Due to high interest rate I have closed the loan.
      Was this review helpful? 0
      , patna
      Reviewed on Jul 11, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have a personal loan from HDFC Bank. Rate of interest is very high 16% and loan amount is not sufficient. I am expecting around 5 Lakhs. I have savings account with HDFC Bank so there was offer on personal loan so I applied. They disbursed the loan immediately. The entire process was hassle free.
      Was this review helpful? 1
      , patna
      Reviewed on Jul 05, 2019
    • 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
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