Bangalore is a cosmopolitan IT city with a rich social infrastructure, fast commuting modes along with pleasant weather. The city sees many people making it their homes. Even financial lenders are not behind to list many financial products for people here such as the personal loan in Bangalore and more.
Are you a salaried individual and have some needs to fulfil? You can rely on the personal loan in Bangalore and get up to Rs.25 lakh at reasonable interest rates.
To do that, you need to have a strong CIBIL Score, repayment and income history. You also need to match your lender’s loan eligibility to get fast approvals. Here is a quick post to let you dig deeper about the personal loan in Bangalore. Read on!
Personal loan eligibility at a glance
Have a look at some standard personal loan eligibility criterions which you need to fulfil before getting the loan approval. Have a look:
- Your age should be under 23-58 years
- You should be a citizen of India
- You need to be a salaried professional and need to work for MNC, a private and public limited company
You can also use a personal loan eligibility calculator, an online tool which is available at a lender’s website for free. Once you enter your basic details related to your personal profile, desired loan amount and income, it will show an amount. You will be eligible for such an amount as the personal loan with a lender.
Documents required for a personal loan
After matching your eligibility, you also need to furnish some documents to complete the application procedure. Some of the common documents required for a personal loan include:
- KYC documents
- Employee ID Card
- Salary Slips of last 2-3 months
- Your Salary Bank account statements for the last 3 months
- Recent passport size coloured photograph
Purposes for which you can use a personal loan amount
As the name suggests, you can use a personal loan amount for any need and aspirations. However, most of loan borrowers use a personal loan amount for the following reasons:
- For consolidating debts such as credit cards, existing loans and more
- For an upcoming marriage
- For sending children overseas for higher education
- For home renovations
- For meeting the funds of urgent medical emergencies
- For all other personal needs
Benefits of applying for a personal loan in Bangalore
A personal loan in Bangalore application via an online lender can offer you many benefits such as:
- Loans up to Rs.25 lakh
You don’t need to worry about funding your wishes and needs as you can get up to Rs.25 lakh depending on your loan eligibility and creditworthiness.
- Instant approval
A personal loan in Bangalore is for immediate concerns, and a borrower can’t wait long to get the approvals. If you qualify for the loan, you can get fast approvals within 5 minutes.
- Money in your bank within 24 hours
After you have the loan approval, you can expect the desired loan amount into your bank account within 24 hours.
- Flexi loan feature
You can withdraw an amount from your loan limit as per your needs multiple times within the loan tenor and pay only the interest on it as the EMI. The rest of the money gets adjusted after the end of the loan duration.
- Flexible loan tenor
With a loan tenor ranging between 1 year and 5 years, you can pay smaller or higher EMIs as per your repayment capacity.
- Online loan access
With the help of your lender’s digital customer portals, you can track the loan progress 24/7 and right from anywhere.
Some of the basic details about the personal loan in Bangalore are now discussed. If you are ready, you can apply for an instant personal loan online today.
Reputed lenders offer pre-approved deals on a personal loan, home loan, credit card, EMI finance, business loan and more. It is to make your loan procedures faster and hassle-free.