Personal Loan Mangalore

 The personal loan is finance which is provided by the lender to the borrower immediately.

A personal loan can be used for different expenses.

The lending institution can be a private sector bank or a government sector bank.

The rate of interest in these loans can vary from place to place and bank to bank.

The special offers are also availed by the lenders to the borrowers.

Here are some benefits of personal loan:

  1. No Collateral or Security: The loan is unsecured. The banks don’t require any collateral for the approval of loans.
  2. Simple Documentation: These loans are easiest to get. The documents which the lenders require are very less, hence very less work.
  3. Loan Amount: The amount of Rs 50000/- to Rs. 20 Lacs can be availed by the banks to the customers.
  4. Quick Loan Approval: The loans can be approved as soon as the documents are verified. Therefore, it will give the loan in just 48 hours.
  5. Multipurpose finance: These loans are for personal usages such as shopping, paying bills, weddings and many more.
  6. No Third party involvement: The direct exchange of money, that is from bank to customer, is used to be done in this transaction.
  7. Hassle free: The easy and fast application can be done by the customers online, which makes this loan special. The customers can even check their credit score, EMIs, and many more things online.

Eligibility

To be an eligible person he must fulfill the criteria.

The banks have categorized the persons in two types, salaried and self-employed.

The criteria of the two categories are listed below.

Salaried

Salaried People

Parameters

Metro

Tier-2

Tier-3

Tier-4

CitizenShip

Indian

Same as Metro

Same as Metro

Same as Metro

Minimum Age

21 Yrs

Same as Metro

Same as Metro

Same as Metro

Maximum Age

58 / 60 Years at
Loan Maturity

Same as Metro

Same as Metro

Same as Metro

Salary

18,000

12,000

10,000

10,000

Experience

Overall 3 years

Same as Metro

Same as Metro

Same as Metro

Telephone / Mobile

Mandatory

Mandatory

Mandatory

Mandatory

Current Experience

One year

One Year

One Year

One Year

Salary in Cash

Not Applicable

Same as metro

Same as Metro

Same as metro

 

Self Employed People

Parameters

Metro

Tier-2

Tier-3

Tier-3

Citizenship

Indian

Same as Metro

Same as metro

Same as Metro

Minimum Age

25 /28 Yrs

Same as Metro

Same as metro

Same as Metro

Maximum Age

65 Year at the
Loan Maturity

Same as Metro

Same as metro

Same as Metro

ITR required

2.5 lakhs - 3.0 Lakh

Same as Metro

Same as metro

Same as Metro

Residence

Office or Home
should be Owned

Same as Metro

Same as metro

Same as Metro

Telephone / Mobile

Mandatory

Mandatory

Mandatory

Mandatory

Business Stability

Business Should be running
from last 3 years

Same as Metro

Same As metro

Same as Metro


Documentation

The needed documents for availing the personal loans are as below.

Identity Proof

The banks must know their customers. Therefore, they require the Aadar Card, PAN Card, Voter ID, driving license or any other KYC to verify the customer’s identity.

Residence Proof

The proof of residence can be given by the water bills and the electricity bills of the last 6 months.

The customers can also provide the Aadhar Card, Voter ID, PAN Card, Driving Licence, Passport or any other KYC or the rental agreement.

Income Proof

The salary slips of last 6 months have to be provided by the employed and the ITR of the last 3 years by the self-employed to give the proof of income.

Rate of Interest

Personal Loan Interest Rates - Updated Monday 29 Oct 2018

Banks

CAT A Company

CAT B Company

CAT C & CAT D Company

Pre-Payment Charges

Processing Fees

HDFC Bank

13.00%- Salary Rs. 70000 or above

14.00%- Salary Rs. 70000 or above

16% and above

1.00 % to 4.00 %

2.00% to 2.5%

13.25%- Salary Between 50000 to & 70000

14.25%- Salary Between 50000 to & 70000

14.00%- Salary Between 30000 to & 50000

14.50% - Salary Between 30000 to & 50000

14.00%- Salary Below 30000

14.75%- Salary Below 30000

ICICI Bank

13.00% to 14.00%

13.50% to 15.00%

14.00% to 15.00%

2.00% to 5.00%

2.00%

Fullerton India

17.25% to 22.00%

17.25% to 25.00%

18.00% to 32.00%

NA

2.00%

Bajaj Finserv

13.99% - 16.75%

13.99% - 16.75%

13.99% - 16.75%

N.A.

2.00% - 3.00%

Axis Bank

16.00% to 18.00%

18.00% to 20.00%

18.50% to 22.00%

Special Offers

2.00%

Citibank

16.00%- Salary Upto 30000

17.00%- Salary Upto 30000

17.00%- Salary Upto 30000

3.00%

1.00% to 2.00%

15.00%- Salary above 30000

16.00%- Salary above 30000

16.00%- Salary above 30000

N.A.

N.A.

Standard Chartered Bank

16.00% to 17.00%

17.25% to 18.50%

18.25% to 19.00%

N.A.

N.A.

United Bank Of India

16.00% to 18.00%

16.00% to 18.00%

16.00% to 18.00%

N.A.

N.A.

State Bank of India and Group

16.75% to 21.00% with Guarantor 

16.75% to 21.00 % with Guarantor 

16.75% to 21.00% with Guarantor 

4.00%

2.00% to 3.00%

Kotak Bank

18.00% to 19.00%

18.00% to 19.00%

18.00% to 19.00%

4.00%

2.00%

Corporation Bank

14.50% to 17.00%

14.50% to 17.00%

14.50% to 17.00%

N.A.

1.5% to 5.00%

Andhra Bank

15.75% to 18.75%

15.75% to 18.75%

15.75% to 18.75%

N.A.

2.00% - 3.00%

Bank of Baroda

15.00% to 17.00%

15.00% to 17.00%

15.00% to 17.00%

N.A.

2.00%

ING Vysya

15.00%- Salary Rs. 70000 or above

15.50% to 16.50% Salary Rs. 70000 or above

16.5% to 18.00% Salary Rs. 70000 or above

4.00%

2.00%

Vijaya Bank

16.00% to 18.00%

16.00% to 18.00%

16.00% to 18.00%

N.A.

N.A.

 

How to avail the lowest personal loan Interest Rates?

Company Profile: The companies of the applicants can be influential to the customers. The companies are categorized by the banks, the top companies have the greatest impact and the last group has the least.

Online Comparison: The comparison of the different loans can be done by the customers online. The EMI calculator can help the customer in evaluating the customer’s monthly installments of the loans.

Negotiate with the lender: The banks offer lesser fees to the pre-customers of the banks.

Co-borrower: The customer who does not have the credit score can introduce a co-borrower. The criteria of being a co-borrower are listed below.

For self-employed, the age limit starts from 25years.

He must have filled the ITR for the last 3 years.

He should have a good CIBIL score.

The ITR should be filed for at least Rs 2.5 Lacs.

Why one should choose a Personal Loan in Mangalore?

It is the simple and safe loan scheme for raising funds in times of need.

The Loan is solely based upon the candidate’s income and repayment capability.

There is no need to put a precious asset as security to the lender.

About Mangalore:

Mangalore is a port city in Karnataka, India. The city lies between the Arabian Sea and the Western Ghat mountain ranges. It serves as the administrative headquarters of the Dakshina Kannada district. The name of the city comes from the local Hindu Goddess Mangaladevi.

Sub-Areas of Mangalore

The banks and NBFCs are more active in providing the personal loan in Mangalore at the following areas

BAIKAMPADY KULAI
GIRI NAGAR KAVOOR
GURUNAGAR SHAKTI NAGAR
DEREBAIL PADUKODI
MARAKADA KUNJATHBAIL

                                                         Personal loan