Personal Loan in Bangalore

Many of the leading banks and NBFC’s provide personal loans ranging from Rs 50,000 to Rs 50,00,000 in Bangalore without collateral. Apart from traditional banking, there are some banks and NBFCs offering special discounts for top MNC’s in form of interest rates and processing fees. Nowadays, personal loans can be availed for many reasons such as travel, medical emergencies, home renovation, wedding expenses, and new goods purchase. Some also use personal loans for credit card debt consolidation, top-up loans, and for balance transfers.

Bangalore, also known as Bengaluru, is the capital city of Karnataka and the third most populous city in India. The city of gardens is also famous for its IT infrastructure development in recent years and attracts many young professionals from all over the world to start their careers. With rapid growth in population and many employees in the IT sector, many leading banks and NBFC’s established operations in Bangalore.

Personal Loan Providers in Bangalore

Basic Eligibility Criteria for Personal loan

  • Good CIBIL score – 350 – 900.
  • Age limit – 21-60 years.
  • Employment Type – Salaried/Self-employed professionals/non-professionals.
  • Employment Status – Employed/In-business for at least 2 yrs, at least 1 yr with current employer/business.
  • Income – Minimum 15k net income per month.
  • Loan Amount – 50,00 to 50 Lakhs.

Personal Loan Interest Rates of Leading Banks and NBFC in Bangalore

Banks & Financial InstitutionsInterest RatesProcessing Fee (Does not include GST)
Axis Bank11.25% - 24.00%1.5% - 2.0%
Bajaj Financial Services11.99% - 15.50%2.25% - 3%
Bank of Baroda11.60% - 16.60%2% (Min Rs. 250)
Bank of Maharashtra15.10% - 15.10%1.00% (Min. Rs. 1000)
Canara Bank13.65% - 13.65%1.00% - 2.5%
Citi Bank10.99% - 16.49%2% - 3%
Corporation Bank12.75% - 13.75%1.5% (Min Rs. 500)
Dena Bank13.00% - 14.00%1.00% - 2.5%
Federal Bank13.32% - 15.12%0.5% - 1%
HDFC Bank10.99% - 20.00%Rs. 1,000 - Rs. 30,000
ICICI Bank10.99% - 22.00%Up to 2.25%
IDBI Bank13.20% - 13.75%1% - 2%
IDFC Bank11.00% - 19.50%2% - 2.5%
IndusInd Bank11.99% - 23.00%Up to 2.50%
Kotak Bank11.50% - 24.00%Up to 2.50%
Punjab National Bank12.25% - 15.25%1% - 2%
RBL Bank13.99% - 16.00%Up to 2%
Standard Chartered Bank11.49% - 20.00%1% - 2%
State Bank of India12.50% - 16.60%2% - 3%
Syndicate Bank14.20% - 14.20%0.5% (Min Rs. 500)
Tata11.99% - 18.00%0.02
Union Bank of India14.40% - 14.40%0.50% (Min Rs. 500)
Vijaya Bank12.50% - 13.50%0.25% (Max Rs. 10000)
Yes Bank11.99% - 20.00%1.5% - 2.0%

How to Apply for Personal Loan in Bangalore

Standing in long queues and waiting for loans approval days are far gone, anyone can apply personal loan by simply clicking website related to banks or NBFCs and just filling a simple enquiry or application form. Based on eligibility applicant will receive email or phone call by representative for enquiry and ask for required documents for loan submission.

Things to take care before applying for a personal loan

While applying a personal loan, one should understand many different factors such as processing fee, pre-payment penalties, and interest rate. All of these vary from bank to bank, and customers need to be careful while choosing a personal loan.