Best Banks for Personal Loan Bangalore
1% - 2.5% of the Loan Amt
Personal Loan Bangalore Features
Interest Rate
Processing Fees
0.5-2.5%
Loan Tenure
Pre-closure Charges
2% - 5%
Guarantor Requirement
As the world is running very fast, and our needs are increasing accordingly. To fulfil such needs, a personal loan is the best option, as it helps us in a variety of ways like getting our car serviced, our home renovation, etc. Moreover, it is a simple process with minimal documentation, and no collateral mortgaging is needed. We can also get a loan with a low-interest rate and a high repayment period.
Personal Loan Bangalore Interest Rates – Oct 19 2021
The interest rates in a Personal Loan depend on the company’s profile and a person’s salary. The interest rate of personal Loan starts @10.75% per annum.
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
Personal Loan Bangalore Fees & Charges – Oct 19 2021
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Bank
Processing Fee
HDFC Bank Personal Loan
0.25% to 1.50%
Axis Bank Personal Loan
0.50% to 1.50%
Nil
ICICI Bank Personal Loan
0.25% to 1.50%
SBI Personal Loan
500/- to 0.50%
Nil
Kotak Personal Loan
1% to 2%
IIFL Personal Loan
Nil
Nil
Muthoot Personal Loan
Nil
Nil
Manappauram Personal Loan
Nil
Nil
PNB Personal Loan
0.70% to 1%
Nil
Canara Bank Personal Loan
0.01
Nil
Andhra Bank Personal Loan
Nil
Nil
Documents Required for Personal Loan in Bangalore
Salaried individuals must submit the following documents in addition to a completed personal loan application form: Self-employed personal loan applicants must submit the following documents in addition to a fully completed loan application form: When applying for a personal loan, NRI candidates are typically required to submit the following documents: When applying for a personal loan, a pensioner must submit the following documents: Know More About: Personal Loan Eligibility CriteriaList of Documents Required for Salaried Applicants
Photo Identity Proof (Any one)
Passport
PAN Card
Voter’s ID
Aadhar Card
Driving License
Address Proof (Any one)
Utility Bill (telephone, electricity, water, gas) – less than 2 months old
Aadhaar Card
Driving License
Ration Card
Income Proof
Bank statements for the last 3 to 6 months (showing salary credit)
Tax Paid (Any one
Form 16
Residence Ownership Proof (Any one)
Maintenance bill
Electricity bill
Proof of Job Continuity (Any one)
Current job appointment letter (if more than 2 years have been spent in the same organisation)
Experience certificate (previous employer’s relieving or appointment letter along with job certificate)
Proof of Investment (if any)
Existing Loans (if any)
Photograph
List of Documents Required for Self-employed Applicants
Photo Identity Proof (Any one)
Passport
PAN Card
Voter’s ID
Aadhaar Card
Driving License
Address Proof (Any one)
Aadhaar Card
Driving License
Utility Bill (telephone, water, electricity, gas) – less than 2 months old
Ration Card
Proof of Residence Ownership (Any one)
Maintenance bill
Electricity bill
Proof of Office Address and Ownership (Any one)
Property documents
Electricity bill
Proof of Business Existence (Any one)
Company registration license
Shop establishment proof
Income Proof
Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
Bank statement
Proof of Investment (in case any)
Existing Loans (in case any)
Professional Degree Certificate
Photograph
List of Documents Required for NRI Applicants
Identity Proof
Copy of the passport
Copy of the visa
Employment Proof
Letter of Appointment
Job contract
Labour/ Identity card (if applicable)
Official email ID or the HR’s email ID
Income Proof
Last 6 months’ bank statements
Last 6 months’ salary slips or salary certificate
Photograph
Passport size photographs
List of Documents Required for Pensioners
Identity/Age Proof (Any one)
Passport
PAN card
Aadhar card
Voter ID card
Driving licence
Birth certificate
School leaving certificate
Address Proof (Any one)
Passport
Aadhaar card
Utility bills
Ration card
Driving licence
Income Proof (Any one)
Bank passbook
Form 16
Copy of pension payment order
Income tax returns
Photographs
Personal Loan Bangalore Eligibility Criteria
The personal loan eligibility criteria for both Salaried and Self-Employed for getting a personal loan in Bangalore are different:
*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000 Click here to know more about - Salaried Applicant *Note: The eligibility criteria vary from lender to lender. *Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions
Particulars
Salaried
Self-Employed
Age
21 - 60 years
21 - 65 years
Minimum Income
Rs.15,000*
Rs.5 Lakh p.a.
Co-applicant
Not mandatory
Not mandatory
Loan Tenure
12 – 60 months
12 – 60 months
Maximum Loan Amount
Rs.40 Lakh
Rs.40 Lakh
Employment Type
Employees of private limited companies and public sector undertakings
Employment/Business Continuity
At least 2 years; minimum 1 year with current employer
5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score
750 and above
750 and above
Residential Status
Click here to know more about - Self-employed ApplicantCheck Personal Loan Eligibility with Top Lenders in 2021
Bank
Age Limit
Minimum Work Experience
SBI
Up to 76 years
NA**
Rs.15,000
HDFC
21 to 60 years
2 years
Rs. 20,000
ICICI
23 to 58 years
2 to 5 years
Rs.17,500
Axis
21 to 60 years
NA**
Rs.15,000
Kotak Mahindra
22 to 55 years
1 year
Rs.25,000
Tata Capital
21 to 58 years
1 year
Rs.15,000
IndusInd
21 to 60 years
2 to 5 years
Rs.25,000
Ujjivan Small Finance
22 to 58 years
NA**
India Infoline Finance Limited
25 to 60 years
6 months to 2 years
Rs.35,000
HDBFS
21 to 65 years
1 year to 3 years
Rs.1 lakh p.a. for self-employed
Indian Overseas Bank
Up to 58 years
NA*
Rs.5,000
IDFC First Bank
23 to 68 years
3 years
NA*
Federal Bank
21 - 55 Years
3 years
Rs.25,000
Punjab National Bank
21 – 58 years
2 years for doctors
Rs.15,000
Andhra Bank
21 - 55 years
NA**
NA*
Canara Bank
NA**
NA**
Self-employed - Rs. 1.5 lakh
IDBI Bank
Up to 75 years for Pensioners
NA**
Rs.1.5 lakh p.a.
Fullerton India
21 to 55 years
1 to 2 years
Rs.15,000
RBL Bank
25 to 60 years
1 to 3 years
Rs.25,000
Bank of Baroda
21 to 60 years
1 year to 2 years
Deutsche Bank
25 to 60 years
NA**
Rs.25,000
Karnataka Bank
NA**
3 years
NA*
United Bank of India
up to 75 Years
2 years
NA*
UCO Bank
21 to 65 years
1 year to 5 years
Rs.20,000
Learn More about Personal Loan: Click Here
Salaried Applicants
- The minimum age of the applicant should be 21 years.
- The maximum age should be 60 years.
- The applicants must have three years’ work experience and must receive the salary in their bank accounts only.
- The applicants should have a good credit history.
- The job location of an individual should be mentioned.
- An applier should have a minimum income of INR 25,000 per month.
Click here to know more about- Salaried Applicant
Self-Employed Applicants
- The minimum age requirement for an individual is 25 years.
- The applicants applying for the personal loan should have the ITR files for the last three years.
- If the candidates are businessmen, then the business should be functioning for the past three years.
- The credit score of the individual applicants must be good. There should not be any debt behind.
- The annual income of the applicants must be a minimum of Rs 2.5 lakh.
- The entire documentation process of the personal loan has to show his finances and his bank statement of the previous three months.
Click here to know more – Self-employed Applicant
Why Apply for a Personal Loan in Bangalore?
- No need to deposit any collateral to the bank.
- A personal loan is a multi-purpose offer loan. It can be used for all the problems related to finance.
- The amount of a personal loan depends on the individual’s income.
- A Personal Loan does not need any guarantor or nominee.
How to apply for a Personal Loan in Bangalore?
- Visit www.dialabank.com.
- While clicking on the loan section, choose the Personal Loan Bangalore section.
- The candidate will be directed to all personal loan details where they can pick their preferred city.
- For more information and free guidance regarding a personal loan, call on 9878981166.
Processing Fee / Prepayment Charges on Personal Loan in Bangalore
Every Bank and NBFC charges a fee for your Personal Loan application. These charges are 1% of the sanctioned loan amount.
You wish to foreclose your loan before the agreed loan tenure; every lending foundation charges you a penal prepayment fee. In most cases, you do not close your loan before 12 months. After 12 months, the charges will depend on the loan tenure. These charges range from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan.
Personal Loan Bangalore EMI Calculator
You can use a personal loan EMI calculator to calculate EMIs. EMI is an Equated Monthly Instalments that you pay to the bank as monthly repayment for the loan amount borrowed. Based on your profile, the interest rate on your loan is set on. Your EMI is calculated based on the personal loan Interest Rate charged by the bank and the loan amount you have to take, and the loan tenure period for which you enjoy the loan.
CIBIL Score required for Personal Loan Bangalore
Every lending institution has its criteria for the minimum CIBIL score required for processing a Personal Loan application in Bangalore. For example, most foundations require a minimum score of 750 for the processing of your loan application.
The institutions don’t just look after the CIBIL score but also the detailed behaviour on the previous loans that you have taken. This includes details on the type of loan and the loan amount. Any delayed payments for previous loans can act as a hurdle for getting a personal loan.
Personal Loan Bangalore Agents/Broker
Dialabank is the leading agent for availing Personal Loan in Bangalore. You can apply online at www.dialabank.com or dial 9878981166.
Dialabank helps you find the best choice of Banks and NBFCs by offering you a detailed market comparison of different banks to make the right option. Visit our website www.dialabank.com and fill a form by filling in your details. Our relationship managers will call you and assist you.
Personal Loan Bangalore Contact Number
For instant help and approval, Call 9878981166, Personal loan Bangalore.
Pre Calculated EMI Table for Personal Loan Bangalore
About Bangalore
Bengaluru (also called Bangalore) is the capital of the Karnataka state. The centre of India’s high-tech industry, the city is also known for its parks and nightlife. By Cubbon Park, Vidhana Soudha is a Neo-Dravidian legislative property. Former royal residences include 19th-century Bangalore Palace, modelled after England’s Windsor Castle, and Tipu Sultan’s Summer Palace, an 18th-century teak structure.
FAQs on Personal Loan Bangalore
✅ What is a personal loan?
A personal loan is a type of unsecured loan that a person can avail of based upon their monthly income and CIBIL score. The loan amount available can be used for any personal purpose and need.
✅ How to get a personal loan in Bangalore?
To get a personal loan, you either walk into the nearest bank branch with primary documents like Aadhar Card, PAN Card, Salary Slip/Bank Statement, and ITR file of the last three years.
You can also fill out an inquiry form and apply online at Dialabank’s digital platform for better convenience and personalized assistance.
✅ What is the interest rate for a personal loan in Bangalore?
The interest rates for personal loans is 10.75% per annum. The interest rate depends upon your monthly income, CIBIL Score, loan amount, and loan tenure.
Table of Contents
- 1 Best Banks for Personal Loan Bangalore
- 2 Personal Loan Bangalore Features
- 3 Personal Loan Bangalore Interest Rates – Oct 19 2021
- 4 Personal Loan Bangalore Fees & Charges – Oct 19 2021
- 5 Documents Required for Personal Loan in Bangalore
- 6 Personal Loan Bangalore Eligibility Criteria
- 7 Check Personal Loan Eligibility with Top Lenders in 2021
- 8 Why Apply for a Personal Loan in Bangalore?
- 9 How to apply for a Personal Loan in Bangalore?
- 10 Processing Fee / Prepayment Charges on Personal Loan in Bangalore
- 11 Personal Loan Bangalore EMI Calculator
- 12 CIBIL Score required for Personal Loan Bangalore
- 13 Personal Loan Bangalore Agents/Broker
- 14 Personal Loan Bangalore Contact Number
- 15 Pre Calculated EMI Table for Personal Loan Bangalore
- 16 About Bangalore
- 17 FAQs on Personal Loan Bangalore
