Bangalore, the capital of Karnataka, is also known as an IT hub and the centre of India's high-tech industry. Owing to its rapid pace of development, the cost of living in the city has significantly increased. As a result, arranging funds for basic needs has turned out to be a daunting task.
An easy solution to the above problem could be to opt for a personal loan in Bangalore. A personal loan helps you manage your urgent cash needs along with financing your occasional expenditures like home renovation, travelling, weddings, medical emergencies, etc.
Loan Type |
Personal Loan |
Loan Amount |
Up to ₹50 Lakhs |
Loan Tenure |
12-60 months |
Interest Rate |
Starting from 10.49% |
Processing Fee |
0.5% - 2.50% of the loan amount |
Foreclosure Charges |
2% -3% of the outstanding loan amount |
Penalty Charges |
2% of the due loan due amount |
Instant Approval - From the Bajaj Markets platform, you can easily get an instant personal loan in Bangalore from the comfort of your home. Once you meet your loan eligibility criteria and complete all the formalities, your loan application is approved within just 3 minutes!
Moreover, once approved, you can get the loan amount immediately. The amount will be credited to your bank account within 24 hours.
If the loan is for a wedding or a medical emergency, you might not know the amount that you would need. Fortunately, from the Bajaj Markets platform, you can get a high-value loan of up to ₹50 Lakhs and take the first step towards achieving your goals.
Flexible Repayments - While you are looking for a personal loan in Bangalore, the first thing you would worry about is loan repayment. Sometimes, the need for immediate repayment stops you from getting a loan. However, if you apply for a loan from the platform of Bajaj Markets, you can repay the loan amount at your convenience and with financial ease. You can choose a tenure which ranges from 12 to 60 months and pay your loan amount in easy EMIs.
Transparency - Personal loans from Bajaj Markets are completely transparent and come with no hidden charges. With easy terms and conditions, you can get the loan after knowing all the loan details beforehand. With our customer portal, you can log in anytime to check your repayment schedule, statement of accounts, EMIs, loan documents, etc.
Lending Institution |
Interest Rate p.a |
Tenure |
Loan Amount |
Processing Fees |
13.5% onwards |
12 - 60 months |
Up to ₹25 Lakhs |
1% of the loan amount |
|
10.49% onwards |
12 - 60 months |
Up to ₹40 Lakhs |
Up to 2% of loan amount |
|
14% onwards |
03 - 48 months |
₹5000 to ₹5 Lakhs |
Up to 3% of the loan amount |
|
Fibe (formerly known as EarlySalary) |
24% p.a. onwards |
03 - 24 months |
Up to ₹5 Lakhs |
Up to 3% of the loan amount |
27% onwards |
03 - 18 months |
Up to ₹4 Lakhs |
Ranges from flat ₹85 to 3% of the loan amount |
|
12.24% onwards |
Up to 24 months |
₹1000 to ₹4 Lakhs |
Ranges from ₹0 to 6% of the loan amount |
|
12% onwards |
12 - 60 months |
Up to ₹25 Lakhs |
Ranges from 0% to 6% of the loan amount |
|
14.50% onwards |
12 - 60 months |
Up to ₹10 Lakhs |
2% - 4% of the loan amount |
|
10.49% onwards |
12- 72 months |
Up to ₹50 Lakhs |
Upto 2% of loan amount |
|
24% onwards |
Up to 3 months |
₹500 - ₹30,000 |
Ranges from flat ₹50 to ₹200 |
|
12.75% onwards |
03 - 42 months |
₹5000 to ₹5 Lakhs |
Ranges from 2.50% - 4% of the loan amount |
|
16% onwards |
12 -60 months |
₹75,000 to ₹15 Lakhs |
2% - 4% of the loan amount |
Disclaimer: The figures mentioned in the above table are subject to constant change. Please check with the lender of your choice before applying.
When you apply for a personal loan in Bangalore, you will have to select the monthly instalment amounts to repay the personal loan. Under flexible repayment options, banks and other financial institutions provide online personal loan EMI calculators so that you can easily determine the value of their EMIs.
All you have to do is, open the personal loan EMI calculator on your device and enter the loan amount, loan tenure, and interest rate. The value of the EMI amount will be shown right away by the EMI calculator. Banks or financial institutions employ the following formula to compute EMIs:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI is Equated Monthly Instalment,
P is the principal amount,
R is the monthly rate of interest, and
N is the loan repayment tenure (in months).
As soon as you meet your eligibility criteria and submit the documents, your loan application is approved. To be eligible for a personal loan with us, you need to be -
A citizen of India.
A salaried employee with a salary of more than ₹37,000 or a self-employed individual with a minimum income of ₹4.5 Lakhs per annum.
Within the age range of 23 -58 years
Moreover, you can easily check your eligibility through the personal loan eligibility calculator. Also, check personal loan interest rates in Bangalore before applying.
To apply for an unsecured loan in Bangalore, here is a list of documents that you will require to attach to the Bangalore loan application form -
Passport-size photographs
Identity Proof - PAN card, Passport, etc.
Address Proof - Aadhaar card, Utility bills, etc.
Income Proof
For salaried Individuals
Salary slips for the last three months
ITR receipts or Form 16
For self-employed Individuals
ITR receipts of the last three years, computed with the Income
P&L Statement and Audited Balance sheet for the last three years
Bank Account Statement for the previous six months
Here are some quick tips that will help you get the best personal loans in Bangalore at competitive interest rates -
Steady Income - It is simpler for you to obtain personal loans in Bangalore at economical rates if you have a steady and fixed income. A steady income is a positive indicator which builds the lender’s faith in your application.
High CIBIL Score - A high CIBIL score, mostly 650 or above demonstrates an individual's creditworthiness. If your credit score is high, you can easily obtain a large loan amount at a fair interest rate.
Zero Defaulter History - Lending institutions would normally prefer you if you have a solid track record and no history of default, which will make it easier for you to get a personal loan at a reasonable interest rate.
Holiday Season - As a part of promotional and marketing strategy, banks and other financial organisations provide interest rate discounts during the holiday season on unsecured loans in Bangalore.
Getting a personal loan from the Bajaj Markets platform is fast and convenient. With a simple personal loan application process, you can take an unsecured personal loan in Bangalore in a few easy steps.
Step 1 - Enter your Personal Details - Enter your personal, financial and employment details in the online application form.
Step 2 - Select Loan Amount & Tenure - Select the amount of loan and the tenure you want the loan for
Step 3 - Disbursal - Once the application is approved, you will receive the amount in your bank account within 24 hours.
Lending Institution |
Interest Rate |
Tenure |
Loan Amount |
Processing Fees |
10.49% - 25% |
12-60 months |
Up to ₹1 Crore |
3.5% of the loan amount |
|
IndusInd Bank |
10.25% -26% |
12-60 months |
Up to ₹50 Lakhs |
3% of the total loan amount |
10.50% -25.00% |
03-72 months |
Up to ₹40 Lakhs |
Up to ₹4999 |
|
Tata Capital |
10.99% - 24% |
12-72 months |
Up to ₹35 Lakhs |
2.75% of the loan amount |
Ujjivan Small Finance Bank |
11.49% - 16.49% |
12-60 months |
Up to ₹15 Lakhs |
2% of the loan amount or ₹2,000 (whichever is higher) |
MyShubhLife |
15% -24% |
03-36 months |
Up to ₹2 Lakhs |
2% of the loan amount |
Disclaimer: The figures mentioned in the above table are subject to constant change. Please check with the lender of your choice before applying. Please note that the above-mentioned banks/NBFCs have not partnered with Bajaj Markets
To get a balance transfer facility for a personal loan in Bangalore, you will have to
Submit an application to your current lending institution stating the reason for the balance transfer.
Collect the consent letter or NOC from your current lending institution and submit it along with the application form to the new lending institution.
Once you have submitted all the necessary documents, the new lending institution will contact the current lending institution regarding the closure of your loan account.
Sign the paper, once the dues are settled and you can start your EMIs with your new lender.
Complete foreclosure of your personal loan in Bangalore depends upon the norms and policies of your lending institution; however, there are certain foreclosure charges that you are required to pay on the outstanding loan amount.
After paying all the loan dues, the borrower will receive a No Dues Certificate from their lending institution.
Yes, if you fail to pay your EMIs, it will affect your CIBIL score.
To avail of a personal loan in Bangalore -
The applicant must be a resident of Bangalore
The applicant should be between 23 to 58 years of age
The applicant should be a graduate with a stable source of income
The interest rates on a personal loan in Bangalore start from 10.49% per annum.
For a personal loan in Bangalore, the approval and fund disbursal process of applications with a good CIBIL score and verified information can take between a few days to a few weeks.
The minimum income requirement for a salaried employee is ₹37,000 per month and for a self-employed individual is ₹4.5 Lakhs per annum.