Personal Loans ranging from Rs.25K to Rs.25L with a tenure starting from 6 months.
35
Banks / NBFCs
20K
Customers
18
Months in Operations
Personal loans in Bangalore are easily available through a lot of Financial Institutions and NBFCs who provide the loan at fair interest rates. The loan amount ranges from Rs. 25,000 to Rs. 25 Lakhs with a tenure period of one to five years. Personal Loans in Bangalore are ideal for times of emergencies as the loan is obtained instantly with minimal documentation. Apart from being fast and easy, personal loans are unsecured i.e. you do not have to provide any asset as collateral to secure the loan. Secondly, you can always take up a personal loan for carrying out a balance transfer or for consolidating all your debts for convenience of repayment. Finally, personal loan interest rates are much lower than other forms of debt, say credit card interest rates. Usually, a personal loan is obtained for varied purposes such as paying off medical bills, home renovation, wedding expenses, buying personal durable goods and covering travel expenses.
Bangalore is the third most populous metropolitan city in India which boasts of succulent dining experiences, shopping centre and heavy drinking scenes. It is a melting pot of various cultures as many people from different cultural backgrounds migrate to this city. It is known as ‘The Silicon Valley of India’ and therefore attracts young working professionals who want to kick start their career. It is a bustling student friendly city, being the center for many renowned research and educational institutions in India. Although the lifestyle is simple, young working professionals and students who form a large part of the population borrow for small business investments and covering certain costs.
The borrower’s credit history and final credit score is reviewed by the lender who takes into account all the borrower’s information for loan approval. Your credit scores determine the interest rates to be charged, loan amount and loan tenure. For obtaining a personal loan with ease, certain requirements such as a decent credit history, adequate monthly salary and minimum age are important.
To get the best deal and a fair rate of interest, adequate research should be carried out. The interest rates, processing fees, flexibility of tenure and pre-payment charges should be compared and the best option should be chosen. Many people fall into the trap of borrowing from NBFCs who charge a very high rate of interest. At times, the interest rates can go as high as 30%. It is advisable to turn to online lending platforms as the loans are provided at lower interest rates at these platforms. To get the best deal without going through a lot of trouble, online lending platforms such as IndiaLends.com are a good option. Applying for a personal loan online is convenient as most of the work is done by the online platform. When you apply online, your application is sent to various banks and NBFCs based on your profile to make a lending decision and assess the risk involved. Online platforms like IndiaLends operate without charging any extra fees or attached hidden costs.
A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use.
It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.
*The figures provided in the table are indicative subject to change from time.
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Good Credit Score
Above 21 years of Age
Salaried professional
Resident of India
Valid Bank Account
PAN Card and Voter ID Card/Driving License
Bank Statements for the last three months
Salary Slip for last three months
Personal Loans in Bangalore Reviews
Your reviews motivate us and help us make our service even better
Aditya Nafde
IndiaLends lived up to their promise of providing reasonable rate of interest and charges. The entire process was easy and good.
3.0
Jobin Mathew
IndiaLends’ online loan application process made it easier for me to fill, track and check my status for Personal loan at each step. I am happy with my experience with them.
3.0
Rishabh Taneja
A recent example of the exemplary service I have received. My personal loan had to get approved the other day but I forgot to submit one of my documents. I called my dedicated personal loan executive & very patiently helped me in getting my documents picked up again, appreciated.
5.0
Sushant Saini
IndiaLends has a dedicated customer support team. I always had problems in getting my personal loan passed but I was not aware of the reason for it. Their agents advised me that I had low CIBIL score and told me the ways to improve it, which helped.
4.0