Personal Loan in Bangalore - L&T Finance

Instant Personal Loan in Bangalore

Are you looking for financial assistance in Bangalore? A Personal Loan in Bangalore can help you handle various expenses with ease, whether it’s for medical emergencies, home renovations, education, or even travel. With quick disbursals, competitive interest rates and flexible repayment options, Personal Loans are ideal for managing planned and unplanned expenses.

Quick Disbursement of Personal Loans in Bangalore

When financial needs arise unexpectedly, quick access to funds becomes essential. An instant Personal Loan in Bangalore ensures that you receive the required funds in the shortest time possible. The streamlined application process, minimal documentation and advanced digital platforms allow eligible borrowers to get loan approvals within hours. If you need an immediate Personal Loan in Bangalore, apply online through user-friendly portals or visit your nearest branch. After verification, the funds are disbursed directly into your bank account, helping you meet urgent financial needs without delays.

Key Features & Benefits of Personal Loans in Bangalore

Here’s why opting for a Personal Loan in Bangalore is a smart financial move:

1. Loan Amount Range:

Avail of loans ranging from ₹ 50,000 to ₹ 30 Lakh, depending on your eligibility.

2. Competitive Interest Rates:

Enjoy the lowest Personal Loan interest rates in Bangalore, starting at 11% p.a.*.

3. Flexible Tenures:

Repay the loan conveniently over a tenure of up to 72 months.

4. Minimal Documentation:

Apply easily with basic documents like PAN, Aadhaar and salary slips.

5. No Collateral Required:

Personal Loans are unsecured, meaning no assets are needed as security.

6. Quick Processing:

Get approvals and disbursals in a short time, making it suitable for emergencies.

Eligibility Criteria for Personal Loan in Bangalore
TypeCriteria
ResidencyIndian resident
Age requirement21 to 58 years
ProfessionSalaried or self-employed individuals
Documents Required for a Personal Loan in Bangalore
Document TypeRequired Document & Checks
Identity ProofPassport | PAN Card | Driver License
| Voter ID | Aadhaar Card
Address ProofUtility bill of any service provider not more than 2 months old
(Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water Bill) | Passport
| Voter ID Card | Driving License
Income ProofIncome proofs vary for different professionals across salaried
and self employed.

Please find the easy detailed list of required documents here

TypeDocument
SalariedLast 3 month's salary slips / Form 16 /
Last 3 month's bank statement reflecting salary credits / Salary Certificate
Self EmployedLatest Income Tax Return (ITR)
Bank StatementLast 3 month's statement is mandatory
Residence Ownership ProofNot mandatory
Personal Loan Interest Rates and Charges
TypeInterest Rate and Charges
Loan Processing Fees (non-refundable):Upto 3%* of Loan Amount + applicable taxes
EMI Dishonour/ Bounce Charges:As shown in the table below
*A bounce charge is a charge for
(i) dishonour of any repayment instrument; or
(ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate
 
Sanctioned Loan AmountCharges
< ₹ 5 Lakh₹ 500
₹ 5 Lakh - ₹ 30 Lakh₹ 1000
Late Payment Charges (LPC)/ Penal Charges:2% (p.m.) on EMI overdue + applicable taxes
*LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec'23
*Taxes applicable on LPC w.e.f. 1st Apr'24
Part Payment Charges:Up to 5% of pre-paid amount + applicable taxes
Foreclosure Charges:5% of POS (Principal Outstanding) + applicable taxes
Legal/ Recovery Charges:As per actuals
Duplicate NOC Charges: First 3 paper copies - free of cost
From 4th Paper copy - ₹250 + applicable taxes
Repayment Swap charges (per swap):₹500 + applicable taxes (applicable only for branch walk-ins)
Loan Cancellation Charge:Nil - for 3 days from date of disbursal
From 4th day - 5%+ applicable taxes (on the outstanding loan amount)
Document Charges:Nil for Statement of Account (SOA), Repayment Schedule, Foreclosure Letter, Welcome Kit
Annual Maintainance Charges (AMC):Nil

*Terms & Conditions Apply. All actual charges will be as per Key Fact Statement (KFS) shared by the company.

How to Apply for a Personal Loan in Bangalore

Apply for Personal Loan with these steps

1. Apply online in just few minutes

Select Personal Loan and click the 'Apply Now' button to start your seamless digital loan journey

2. Fill in your details

Enter your personal details, such as income details, current address, and more, to instantly check your loan eligibility

3. Get your customised offer

Explore personalised loan offers to match your needs. You may also get an options to enhance your offer

4. Set up E-mandate

Securely provide your bank details to easily register for an E-mandate, ensuring smooth loan repayments

5. Complete KYC

Verify your identity easily and securely with a quick KYC process from the comfort of your home

6. Get loan disbursement

Get your loan disbursement directly in your bank account, ensuring fast and seamless access to funds

Tips to Enhance Approval Chances

1. Maintain a good credit score

2. Ensure all documents are accurate and complete

3. Choose a loan amount that aligns with your repayment capacity

Uses of Personal Loan in Bangalore

A Personal Loan is a versatile financial tool that can be used for various purposes:

1. Medical Emergencies:

Cover hospital bills, treatments, or surgeries without financial stress.

2. Home Renovations:

Upgrade your living space with repairs, furnishing, or remodeling.

3. Education Costs:

Pay for your or your child’s educational fees, tuition, or foreign studies.

4. Debt Consolidation:

Combine multiple loans into a single manageable loan.

5. Travel Plans:

Fund your dream vacation or family trip effortlessly.

6. Wedding:

Cover your wedding expenses with easy Personal Loans.

FAQs & Support

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How can I apply for an instant Personal Loan in Bangalore?

You can apply online by submitting your documents and get approval within hours.

Can I get a Personal Loan in Bangalore with a low CIBIL score?

Yes, you can get Personal Loans with low credit scores if you apply with L&T Finance.

Are there Personal Loan options for unemployed individuals in Bangalore?

Yes, Personal Loans are available for unemployed individuals if you apply with a guarantor.

Can I get a Personal Loan in Bangalore with a bad credit history?

While it is possible, the loan terms may vary based on your financial profile and our loan policies.

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