Personal Loan Shimoga

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Personal Loan Shimoga

Best Banks for Personal Loan in Shimoga

Feature
HDFC Bank
ICICI Bank
Bajaj Finance
Interest Rate
10.75% - 17%
11.25% - 18.5%
12%
Min Loan Amt
Metro : 75000 & Non Metro: 50000
50000
100000
Max Loan Amt
50 Lacs
50 Lacs
1 Cr
Loan Tenure
1 - 5 Years
1 - 5 Years
1 - 5 Years
Processing Fee
0.25% - 2% of the Loan Amt

1% - 2.5% of the Loan Amt

0.5% - 2% of the Loan Amt
Preclosure Charges
2%, Nil foreclosure charges after 12 months
2%, Nil foreclosure charges after 24 months
Nil
Overdraft Facility
No
No
Yes

Personal Loan in Shimoga Features

Personal Loan Details
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

 

Personal loan Shimoga

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 the 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.

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Personal Loan in Shimoga Interest Rates and Charges – Jul 24 2021

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 Shimoga Fees & Charges – Jul 24 2021

Bank Processing Fee
Prepayment Charges
HDFC Bank Personal Loan 0.25% to 1.50%
2%, Nil foreclosure charges after 3 months
Axis Bank Personal Loan 0.50% to 1.50% Nil
ICICI Bank Personal Loan 0.25% to 1.50%
2%, Nil foreclosure charges after 9 months
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.
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

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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.
Existing Loans (if any)
Payment Track Record & Sanction letter
Photograph
One coloured passport size photograph

 

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
Proof of Investment (in case any)
Investments such as fixed deposit, fixed assets, shares, etc.
Existing Loans (in case any)
Payment Track Record and sanction letter
Professional Degree Certificate
In case of professionals
Photograph
One coloured passport size photograph

 

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

 

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
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

 

*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
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**
Above the minimum wage limit
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
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

  1. The minimum age requirements of the individual should be 21 years and a maximum up to 60 years.
  2. The applicants or individuals must have the work experience of the three to five years. And the salary should be received or credited in their self accounts only.
  3. The applicants must have a Sound or valid credit history.
  4. The job location of the applicant should be mentioned.
  5.  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

  1. The minimum age requirement for an independent person should be 25 years.
  2. The applicants applying for the personal loan Shimoga should file ITR for the last three years.
  3. If the applicants are the businessman, then the business should be running from the past three to five years.
  4. The credit score of the individual applicants should be good, and there should not be any pending dues left.
  5. The annual income of the applicants should be a minimum of Rs 2.5 lakh.
  6. 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.

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Why Apply for Personal Loan in Shimoga?

  1. There is no need to deposit any mortgage and asset security to the bank.
  2. A personal loan Shimoga is a multi-purpose offer loan. It can be used for all the problems related to finance.
  3. The amount of personal loan depends upon the repayment of individual income and capacity.
  4. A Personal Loan Shimoga does not require any guarantor or nominee.

How to apply for Personal Loan in Shimoga?

  1. Visit www.dialabank.com.
  2. Go to the loan section then, click on the personal loan link.
  3. The applicant will be provided with all details of the personal loan where you can choose your preferred city.
  4. For more information and free guidance, you may call us on 9878981166.

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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.

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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 behavior 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 Personal Loan Shimoga. You can apply online by visit at www.dialabank.com 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 loan 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.

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Personal Loan Shimoga Contact Number

Call 9878981166 and get instant help and approval for Personal Loan in Shimoga.

Pre Calculated EMI Table for Personal Loan Shimoga 

Rate
5 Yrs
4 Yrs
3 Yrs
10.50%
2149
2560
3250
11.00%
2174
2584
3273
11.50%
2199
2608
3297
12.00%
2224
2633
3321
12.50%
2249
2658
3345
13.00%
2275
2682
3369
13.50%
2300
2707
3393
14.00%
2326
2732
3417
14.50%
2352
2757
3442
15.00%
2378
2783
3466

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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

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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 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 which 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 installments within the agreed tenure of the loan.

✅ Can my application for Personal Loan Shimoga get rejected due to my CIBIL score?

Since 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.