Best Personal Loan Offers Available in Bangalore
Personal Loan is that friend of ours who helps us in times of need; it is that emergency “Go to” man in our life whom we could rely upon during tough times. Personal Loans have been instrumental in helping people when they needed the most and didn’t know where to go. A medical emergency, child’s admission, house repair, or vehicle damage repair; whatever be the problem, Personal Loan has been the solution. Whether you are a lower middle class person or an upper class, or a white collared employee working for a fortune 500 company, you would need a Personal Loan at some point of your life.Hence it is always better to know the options available in and around the place, you stay. There are many Personal Loan providers in Bangalore that provide loans with very good offers.
Let’s have a look at the Best Personal Loan Offers available in Bangalore; and then we will further dwell on their USPs as well. Below are the top Personal Loans options available in Bangalore and other parts of India:
- Axis Bank Personal Loan
- ICICI Bank Personal Loan
- Citibank Personal Loan
- Kotak Mahindra Bank Personal Loan
- Fullerton India Personal Loan
- SBI Personal Loan
- HDFC Bank Personal Loan
Let us now look at the salient features of some of these top Personal Loan Providers in Bangalore:
- Axis Bank Personal Loan: With Axis Bank, you can avail of a Personal Loan ranging from Rs. 50,000 to Rs. 15 Lakhs with minimal documentation or sometimes no documentation as well if you have a preapproved option from them. Their interest rates are also very competitive starting at just 15.75% and maximum upto 24%.Axis Bank Personal Loan is known for its instant processing of loan approval and minimal documentation necessity. Axis Bank has many branches in Bangalore, hence customers can walk into any of their branches and get the loan application submitted.
- ICICI Bank Personal Loan:ICICI Bank also offers some really good Personal Loan offers for the customers in Bangalore. You can easily go upto a maximum of Rs. 20 Lakhs loan from them if your annual income is suitable to that. The interest rate is also ranging between 11.25% – 22%. If you have an ICICI Bank account or Credit Card, they provide additional benefits like lesser documentation and instant approval as well. They have a one time processing fee of up to 2.25% of the sanctioned loan amount. The loan tenure with ICICI Bank can go upto 5 years.
- Citibank Personal Loan: Citibank, being one of the oldest banks in Bangalore, offers some amazing benefits for its customers applying for Personal Loan. The maximum loan amount that one can have with Citibank Personal Loan is Rs. 30 Lakhs. At present, the Citibank Personal Loan interest rates are starting at just 10.99% p.a. (till 31st December 2018). Easy documentation, expert suggestion and advice, pickup and drop of required documents from your doorstep are some of the features this bank offers. Known for its customer service, Citibank offers some amazing online and offline assistance for people who would want to go for a Personal loan in Bangalore. Their online Equated Monthly Instalment or EMI calculator would instantly help you calculate how much EMI you would need to pay with the Loan amount that you are opting for.
- Kotak Mahindra Bank Personal Loan: Kotak Mahindra Bank provides instant in-principal Personal Loan approval in just two minutes. They also have very less documentation and easy procedure for applying. Kotak Mahindra Personal Loan interest rates are between 11.50% to 24% per annum. You can get up toRs. 15 Lakhs as a Personal Loan for tenure up to 5 years. They also charge a processing fee of up to 2.5% once during the loan disbursement.
- Fullerton India Personal Loan: Fullerton India offers Personal Loans to salaried individuals’ upto Rs. 20 Lakhs and upto Rs. 30 Lakhs for self-employed people. Their interest rate hovers between 11.99% to 23.99% per annum. The maximum term that the loan can be taken is 4 years. Processing fee for this loan is up to 6.5% of the loan amount.
- SBI Personal Loan: State Bank of India (SBI) offers some very good options for Personal Loansfor salaried as well as self-employed individuals. The minimum criteria that they need are that the person should be minimum 21 years of age and should have at least 15,000 monthly income. SBI offers Personal Loan of maximum Rs. 15 Lakhs. The interest rates with SBI are also very competitive, i.e., from 11.5% – 17.10%.
- HDFC Bank: HDFC is another bank that is very prompt in offering Personal Loans to those who need it. For existing customers of HDFC, they offer instant personal loans with minimum or no documentation at all. For the other customers as well, their processing time is very less; their usual loan approval time is 48 hours post submitting the documents. HDFC offers interest rates as low as 11.25% – 20% for its Personal Loan offers and you can take the loan for a maximum period of 60 months.
The above banks offer the best Personal Loans in Bangalore; however, you could do a detailed comparison to understand the best option that suits your requirement. Factors that you would need to consider before finalizing on your Loan provider is their interest rate, maximum tenure for which the loan is offered, processing charges, documentation charges,prepayment or foreclosure charges, and so on.Once you finalize on the bank, then the procedure is fairly simple. All you need to do is just login to the official website of the respective bank and put in your request for the Personal Loan. Someone from their sales and support team will contact you and you have to then provide them with your documents. Generally they would take your KYC documents, i.e., Aadhaar card, PAN card, recent photographs, and income proof. If you are salaried, then your last three months salary slip would be needed and if you have your own business, then last 3 years Income tax return would be required along with the computation of income. All the best with your Personal Loan search.