Best Banks for Personal Loan in Shimoga
1% - 2.5% of the Loan Amt
Personal Loan in Shimoga Features
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Personal Loan Details
|
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| Interest Rate |
10.75% to 24% p.a.
|
| Processing Fees | 0.5-2.5% |
| Loan Tenure |
1 year to 5 years
|
| Pre-closure Charges | 2% - 5% |
| Guarantor Requirement |
No guarantor required
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Do you need money for Foreign trips? Do you need money for the renovation of the house or building? So you can apply for a personal loan. This loan is a quick or instant loan that can be provided without any collateral pledge and for your immediate needs, emergency needs such as medical expenses, or uncertain financial expenses. 
This Personal loan Shimoga provides flexibility in the use of funds as per your needs. The loan is provided to those individuals who are having good CIBIL scores or sound or valid credit history.
Personal Loan Shimoga is an unsecured loan that provides financial aid or support to customers at affordable and best interest rates. To get a Personal Loan Shimoga, the applicant needs to have the required documents and has good credit transaction records.
Furthermore, there is no end-use restriction on the use of the personal loan Shimoga amount. You can use this loan amount anywhere you want to do for any particular event or thing you want to spend.
PERSONAL LOAN
Interest Rate 9.99%
Personal Loan in Shimoga Interest Rates and Charges – Apr 18 2024
| Name of the Bank | Interest Rate Range | Processing Fee Range | Loan Amount | Tenure |
| Private 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 Shimoga Fees & Charges – Apr 18 2024
| Bank | Processing Fee |
Prepayment Charges
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| HDFC Bank Personal Loan | 0.25% to 1.50% |
2%, Nil foreclosure charges after 3 months
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| Axis Bank Personal Loan | 0.50% to 1.50% | Nil |
| Private Bank Personal Loan | 0.25% to 1.50% |
2%, Nil foreclosure charges after 9 months
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| SBI Personal Loan | 500/- to 0.50% | Nil |
| Kotak Personal Loan | 1% to 2% |
2.25% of fore closure amount if closed 1 month ahead of the tenure.
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| 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 |
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
PERSONAL LOAN
Interest Rate 9.99%
Documents Required for Personal Loan in Shimoga
List of Documents Required for Salaried Applicants
Salaried individuals must submit the following documents in addition to a completed personal loan application form:
| Photo Identity Proof (Any one) | Passport PAN Card Voter’s ID Aadhar Card Driving License |
| Address Proof (Any one) |
Passport
Utility Bill (telephone, electricity, water, gas) – less than 2 months old Aadhaar Card Driving License Ration Card |
| Income Proof |
Salary slips (Last 3 months)
Bank statements for the last 3 to 6 months (showing salary credit) |
| Tax Paid (Any one |
IT returns (for 2 years)
Form 16 |
| Residence Ownership Proof (Any one) |
Property documents
Maintenance bill Electricity bill |
| Proof of Job Continuity (Any one) |
Current employment certificate
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) |
Fixed assets, fixed deposit, shares, etc.
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| Existing Loans (if any) |
Payment Track Record & Sanction letter
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| Photograph |
One coloured passport size photograph
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List of Documents Required for Self-employed Applicants
Self-employed personal loan applicants must submit the following documents in addition to a fully completed loan application form:
| Photo Identity Proof (Any one) | Passport PAN Card Voter’s ID Aadhaar Card Driving License |
| Address Proof (Any one) |
Passport
Aadhaar Card Driving License Utility Bill (telephone, water, electricity, gas) – less than 2 months old Ration Card |
| Proof of Residence Ownership (Any one) |
Property documents
Maintenance bill Electricity bill |
| Proof of Office Address and Ownership (Any one) |
Maintenance bill
Property documents Electricity bill |
| Proof of Business Existence (Any one) |
Copy of GST registration
Company registration license Shop establishment proof |
| Income Proof |
Last 2 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable |
| Bank statement |
Savings/current account bank statement/ bank passbook for the past one year
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| Proof of Investment (in case any) |
Investments such as fixed deposit, fixed assets, shares, etc.
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| Existing Loans (in case any) |
Payment Track Record and sanction letter
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| Professional Degree Certificate |
In case of professionals
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| Photograph |
One coloured passport size photograph
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List of Documents Required for NRI Applicants
When applying for a personal loan, NRI candidates are typically required to submit the following documents:
| 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
When applying for a personal loan, a pensioner must submit the following documents:
| Identity/Age Proof (Any one) |
Ration card
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) |
Last 6 months’ bank statements/salary slips
Bank passbook Form 16 Copy of pension payment order Income tax returns |
| Photographs |
Passport size photographs
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Know More About: Personal Loan Eligibility Criteria
Personal Loan Shimoga Eligibility Criteria
| 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 |
Self-employed individuals
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| Employment/Business Continuity | At least 2 years; minimum 1 year with current employer |
4 years Post Qualification experience for Doctors/ Chartered Accountants.
5 years Post Qualification experience for Company Secretary / Architect. |
| CIBIL Score | 750 and above | 750 and above |
| Residential Status |
Resident Indian staying in own house or a rented house
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*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
Click here to know more about - Self-employed Applicant
*Note: The eligibility criteria vary from lender to lender.
Check Personal Loan Eligibility with Top Lenders in 2021
| Bank | Age Limit | Minimum Work Experience |
Minimum Income (Per Month)
|
| SBI | Up to 76 years | NA** | Rs.15,000 |
| HDFC | 21 to 60 years | 2 years | Rs. 20,000 |
| Private | 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** |
Above the minimum wage limit
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| 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.15,000 for salaried
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** |
Salaried: Rs.6,000 & above
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 |
60% of gross monthly income
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| 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 |
*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions
Learn More about Personal Loan: Click Here
The personal loan eligibility criteria for both Salaried and Self-Employed are different:
Salaried Applicants
- The minimum age requirements of the individual should be 21 years and a maximum of up to 60 years.
- The applicants or individuals must have work experience of three to five years. And the salary should be received or credited in their self accounts only.
- The applicants must have a Sound or valid credit history.
- The job location of the applicant should be mentioned.
- A borrower should have a minimum income of INR 25,000 per month.
Click here to learn more about- Personal Loan Salaried Applicant
Self-Employed Applicants
- The minimum age requirement for an independent person should be 25 years.
- The applicants applying for the personal loan Shimoga should file ITR for the last three years.
- If the applicants are the businessman, then the business should be running from the past three to five years.
- The credit score of the individual applicants should be good, and there should not be any pending dues left.
- The annual income of the applicants should be a minimum of Rs 2.5 lakh.
- The whole documentation process of the personal loan Shimoga is the applicants have to submit his financial and his bank statement of the previous three months.
Click here to know more –Personal loan Self-employed Applicant.
PERSONAL LOAN
Interest Rate 9.99%
Why Apply for a Personal Loan in Shimoga?
- There is no need to deposit any mortgage and asset security to the bank.
- A personal loan Shimoga is a multi-purpose offer loan. It can be used for all the problems related to finance.
- The amount of a personal loan depends upon the repayment of individual income and capacity.
- A Personal Loan Shimoga does not require any guarantor or nominee.
How to apply for a Personal Loan in Shimoga?
- Visit Dialabank.
- Go to the loan section then, click on the personal loan link.
- The applicant will be provided with all details of the personal loan where you can choose your preferred city.
- For more information and free guidance, you may call us on 9878981166.
PERSONAL LOAN
Interest Rate 9.99%
Processing Fee / Prepayment Charges on Personal Loan Shimoga
Every Bank and NBFC charges a fee for processing your Personal Loan application. These charges vary between 1% of the sanctioned Personal loan Shimoga amount.
In case you wish to foreclose your loan before the agreed loan tenure, every lending institution charges you a penal prepayment fee. In most cases, you cannot close your loan before 12 months. Post that the charges vary depending on how many years the Personal loan has been done. These charges may vary from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the Personal loan.
Personal Loan Shimoga EMI Calculator
Equated Monthly Installments also know as EMI are the monthly fixed charges that you pay to the bank as monthly repayment for the personal loan amount borrowed. Based on your profile, the interest rate on your Personal loan Shimoga is determined. Your EMI is calculated using personal loan EMI calculator basis the Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the loan.
Click to know more about EMI Calculator: Personal Loan EMI Calculator.
PERSONAL LOAN
Interest Rate 9.99%
CIBIL Score required for Personal Loan Shimoga
Every lending institution has its own criteria for the minimum CIBIL score required for processing a Personal Loan application in Shimoga. Most institutions require a minimum score of 750 to process your Personal loan Shimoga application.
The institutions don’t just look at the overall score but also the detailed behaviour on the previous loans taken. This includes details on the type of loan taken and the amount of Personal loan Shimoga borrowed. Any delayed payments for previous loans can act as a barrier to your availing a new loan.
Personal Loan Shimoga Agents/Broker
Dialabank is the leading agent for availing of Personal Loan Shimoga. You can apply online by visiting the Dialabank website or give a call at 9878981166.
Dialabank helps you to find the best option of Personal loans Shimoga Banks and NBFCs by providing you with a detailed market comparison of different banks so that you can make the right choice. Visit our website and avail the best offers on personal loans click on www.dialabank.com and fill a simple form with your personal information and employment details. Our customer relationship managers will soon get in touch with you to assist you.
PERSONAL LOAN
Interest Rate 9.99%
Personal Loan Shimoga Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan in Shimoga.
Pre Calculated EMI Table for Personal Loan Shimoga
PERSONAL LOAN
Interest Rate 9.99%
About Shimoga
Shimoga (Shivamogga) is a city or place in Karnataka state, southwest India. Shivappa Nayaka Palace Museum has 16th- to 18th-century stone carvings displayed on its lawns. Nearby is the huge, modern Sacred Heart Cathedral. Mandagadde Bird Sanctuary is home to species such as egrets and cormorants. The Bhadra Wildlife Sanctuary shelters elephants, tigers and panthers. Northwest of Shimoga is the powerful, towering Jog Falls.
Other Cities For Personal Loan In Karnataka
| Personal Loan Tiptur | Personal Loan Sandur |
| Personal Loan Sedam | Personal Loan Ramanagaram |
| Personal Loan Sankeshwar | Personal Loan Puttur |
PERSONAL LOAN
Interest Rate 9.99%
FAQs on Personal Loan Shimoga
✅ Who can apply for a Personal Loan in Shimoga?
People who have an urgent need for cash and have a regular source of income (from employment or business) can apply for a Personal Loan Shimoga.
✅ What is the tenure of a Personal Loan in Shimoga?
Most of the Banks and NBFCs provide a Personal Loan for a min period of 1 Yr and a Max period of 5 Years. There are some Banks that extend the maximum period to 7 Years also. The tenure is fixed and cannot be extended. The repayment has to be done in equal monthly instalments within the agreed tenure of the loan.
✅ Can my application for Personal Loan Shimoga get rejected due to my CIBIL score?
Since a Personal Loan is an unsecured loan, one of the most important decision criteria for getting your Personal Loan application approved is your CIBIL Score. Having a High CIBIL score becomes extremely important if you wish to avail of a Personal Loan in the future. Make sure you don’t skip any of your loan EMI payments or any credit card payments as that will result in decreasing your CIBIL score. Most of the Personal Loan rejections happen due to a low CIBIL Score.
