Bangalore City

Erstwhile known as Bangalore, it the information technology hub of India. It is also known as the “Silicon of India” or the “IT capital of India”. It is the capital of Indian state Karnataka. It is a cosmopolitan city that gives the visitors the opportunity to see the modern face of India. The city has pleasant climate throughout the year and is popular for its dinking, dining and shopping scene. Due to its high elevation, Bangalore usually enjoys a moderate climate throughout the year.  It is the second fastest growing metropolitan city of India.

As many multinationals have established there headquarters in the city, it is progressing very fast.  Even on the education front many good institutes such as Indian Institute of Science (IISc), Indian Institute of Management (Bangalore) (IIMB), National Institute of Design, Bangalore (NID R&D Campus), National Law School of India University (NLSIU) and National Institute of Mental Health and Neurosciences (NIMHANS) has been established Bengaluru. 

About Personal Loan

You can take a personal loan for any purpose other than speculative.  These are the fastest and most easily available retail loan. If you want to go for a vacation, you need funds for your child’s education, home renovation or wedding in your family, you can avail a personal loan to fund your requirement.  The personal loan is easily available if you have a good credit score and you meet the various eligibility criteria.  The interest rate will vary from bank to bank and will also depend on the customer’s profile. There are many banks that provide personal loan in Bangalore


Features

  • No security or collateral required
  • Fixed rate of interest
  • Flexible tenure upto 60 months
  • Loan payable in easy installments
  • Repayment facility through post date cheques or ECS or auto debit.


Benefits of taking personal loan

  • You have complete flexibility to use the loan for whatever purpose you want to.
  • The documentation requirement is minimum
  • The processing of loan is quite fast as a loan is generally disbursed in 72 hours.
  • Interest rates are lower than credit card loan

 

Documentation for Personal Loan in Bangalore


Salaried
 


Self-employed
 


Any one ID proof-Passport, driving license,  voter ID and PAN card


Proof of identity, address proof and DOB proof for KYC
 


Residence proof- leave and license agreement, water and electricity bills not older than 3 months


Residence proof- leave and license agreement, water and electricity bills not older than 3 months
 


Salary slips for last 3 months


Audited financial for the last two years for income proof
 


2 passport size photograph


Address proof of office
 


Latest 3 months bank statement  (where salary income is credited)
 


Proof of residence or office ownership

 


Proof of business continuity
 

Eligibility Criteria for Personal Loan in Bangalore


Criteria


Salaried
 


Self-employed


Age


21-60 years


25-65 years
 


Income


Minimum Rs 15,000


Turnover of Rs 15-40 lakh and minimum PAT of Rs 1 lakh for professionals and 2 lakh for proprietorship , should be in current business for at least 5 years and minimum 3 years for doctors
 


Loan amount


Rs 15 lakh
 

 


Rate of interest


12.99%-15.50%


12.99% to 20%
 


Loan processing charges
 


1.5%-2.5%


1.5%-2.5%


Prepayment/ foreclosure charges
 


Nil-5%


Nil-5%

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