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Instant Online Personal Loan in Mangalore

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How it Works!

Quikkloan made the effortless process for the customers. Apply Personal Loan Online, Compare the best personal loan offer from the various Banks & NBF, upload the documents online, get disbursal in 24Hrs.

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Group 12261  Eligibility Criteria
Salaried Individuals between 21 to 58 years, Minimum Net Monthly Salary of Rs. 20,000 and Employed for at least 1-2 years

Group 12265  Get ready with Documents
PAN & Aadhaar Card, Latest 3 month Bank statement, Two latest salary slip / latest Form 16, Cancelled Cheque

Group 12264  Get Disbursal in 1 Day*
Personal Loan up to 25 Lakh, Instant approval and Fast Disbursal through Partnered Banks / NBFC, No Collateral and Minimum Documentation

Top Banks

Offering Lowest Personal Loan Interest Rates in Mangalore

 

Lenders

Interest Rates

Loan Amount

Tenure

Processing Fee

Apply Online

SBI

9.60% to 13.60% per annum

Up to 15 Lakh

Up to 5 Years

Nil – 1% of the Loan Amount + GST

Apply Now

ICICI 

11.25% to 22.00% per annum

Up to 20 Lakh

Up to 5 Years

Up to 2.25% of loan amount+GST

Apply Now

HDFC

10.75% to 21.30% per annum

Up to 15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount

Apply Now

Axis Bank

12%-24% per annum

Up to 15 Lakh

Up to 5 Years

As applicable by the bank

Apply Now

Kotak Bank

10.99%-24% per annum

Up to Rs.15 Lakh

Up to 5 Years

Upto 2.50% of loan amount + GST

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YES Bank

10.99% per annum

Up to Rs.40 Lakh

Up to 5 Years

Up to 2.50% of the loan amount +GST

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Tata Capital

10.99% per annum

Up to Rs.25 Lakh

Up to 6 Years

Up to 2.50% of the loan amount+GST

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IDFC Bank

As applicable by the bank

Up to Rs.25 Lakh

Up to 5 Years

3.50% of the loan amount

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IndusInd Bank

11.25% per annum

Up to Rs.15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount+GST

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DCB Bank

10.22% per annum (one year MCLR)

Up to Rs.5 Lakh

Up to 5 Years

2% of the loan amount+GST

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Bajaj Finserv

12.99% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 4.13% of the loan amount+GST

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Aditya Birla Finance

14%-26% per annum

Up to Rs.50 Lakh

Up to 5 Years

Up to 2% of the loan amount+GST

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IIFL 

16% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 2% of the loan amount+GST

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HDB Financials

Up to 36% per annum

Up to Rs.20 Lakh

Up to 5 Years

Up to 2 % of the loan amount

Apply Now

Fullerton India

12.99%-36% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 3% of the loan amount

Apply Now

Personal Loan Eligibility in Mangalore

 

Eligibility Criteria

Salaried

Self-employed

Minimum Age

21

24

Maximum Age

58

65

Minimum Income

Rs.35,000 monthly

Rs.2 lakh(annual)

Credit/Cibil Score

Above 750(out of 900)

Above 750(out of 900)

Minimum Job/Business Stability

1-2 Years

2-3 Years

Minimum Work/Business Experience

1-2 Years

3 Years

Minimum Profit After Tax

NA

Rs.1-2 lakh(annual)

 

Personal Loan In Mangalore At A Glance

 

Particulars

Details

Interest Rates

Starting at 10.99% per annum

Loan Amount

From Rs 1,00,000-Rs.25,00,000

Tenure

Up to 5 Years

Processing Fee

1.50%-2.50% of the loan amount+GST

Minimum Monthly Income

Rs.35,000

Cibil Score

Above 750 (out of 900)

Prepayment/Foreclosure Charges

2%-6% of the principal outstanding +GST

 

Personal Loan in Mangalore?

Mangalore is considered as one of the most multicultural non-metro cities of India. It also is a healthcare, educational, commercial and industrial hub in India. There are many such reasons why an individual would want to take loans in Mangalore. Hence many lenders in the market provide quick and easy personal loans to individuals who can fulfill their eligibility.

 

This loan comes in handy to meet multiple needs such as:  

  • Medical Emergencies
  • Wedding Expenses 
  • Debt Consolidation
  • Home Renovation/Extension
  • Higher Education
  • Travelling Expenses
  • Purchasing High End Consumer Durables Value

How to Apply for Personal Loan in Mangalore?

Opt for an online mode if you want to apply for a personal loan in Mangalore. The online process is easy, time-saving and secure hence gives you a hassle-free loan journey. You can avail the loan, right from the comfort of your home, hence no more hassle of going out. You simply need to send an online query and soon after your eligibility matches with the lender, you can expect to have an instant approval and disbursal of the loan amount. Thus, in just a few simple steps, you would be able to get the required amount to fulfill your various financial need  

 

Steps to Apply for Personal Loan in Mangalore

Step 1: Fill Loan Query Form

Step 2: Get the Quotes

Step 3: Submit the Required Documents

Step 4: Get Instant Approval & Disbursal

CIBIL Score Required for Personal Loan in Mangalore

A cibil score of above 750 out of 900 is considered to be fair enough in grabbing the best deal. In the case of a personal loan, it is important to have a good score just to show your creditworthiness. A good score is an indicator of a good credit history, which means a borrower can be trusted as far as repayment is concerned. When it comes to a personal loan, it is important that a credit profile of a borrower should be fair and clean and a high credit score reflects that. Thus, it is always advisable to maintain a good score just to have a hassle-free loan journey.

Minimum Salary Required to Avail Personal Loan in Mangalore

The minimum monthly income that one should have is Rs.35,000. Make sure your monthly income should meet the required eligibility criteria set by the lender. Though, different lenders have different criteria but people living in Mangalore should have a minimum mentioned above. With a good monthly income, it is absolutely easy to manage your other monthly expenses hence you can save a lot to repay your loan. This is the reason why lenders always check the monthly income of a borrower just to be doubly sure about the repayments. So, before you apply for a loan, do check the eligibility criteria of a lender as your income should meet the same.

Personal Loan EMI Calculator

A big confusion is going on in your mind related to EMI? Don’t worry as a personal loan EMI calculator online takes all your worries away. This smart, easy-to-use and secure device lets you know the accurate calculations of your EMIs in the fastest manner. This tool will churn out the values for you, the moment you enter:

    • Loan Amount
    • Tenure
    • Interest Rate

Soon you enter the credentials above, the device with its well-designed algorithms fetches the exact values of not only your monthly installment but Interest Outgo and Total Amount Payable also. Hence, ensures that you take a calculative decision as far as availing a loan is concerned. 

Let’s take the help of an example and understand the functioning of the device below. 

Suppose, a person has taken a loan of Rs. 16 lakh at an interest rate of 16.50% per annum for a tenure of up to 5 years. What would be the exact amount of EMI, he needs to give away to his lender every month? Know by looking at the EMI table below. 

 

 

Table Showing EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Loan Amount (in Rs.) Interest Rate(per annum) Tenure (in Years) EMI (in Rs.) Total Interest Amount(in Rs.) Total Amount=Principal +Interest (in Rs.)
16,00,000 16.50% 1 1,45,548 1,46,579 17,46,579
16,00,000 16.50% 2 78,724 2,89,370 18,89,370
16,00,000 16.50% 3 56,647 4,39,292 20,39,292
16,00,000 16.50% 4 45,755 5,96,250 21,96,250
16,00,000 16.50% 5 39,335 7,60,114 23,60,114

Table Showing Principal, Interest and Balance Amount

Years Principal (in Rs.) Interest(in Rs.) Balance Amount(in Rs.)
1 Year 2,24,498 2,47,524 13,75,501
2 Years 2,64,474 2,07,548 11,11,027
3 Years 3,11,568 1,60,454 7,99,458
4 Years 3,67,049 1,04,973 4,32,409
5 Years 4,32,942 39,614 0

Personal Loan Fee & Charges

While availing an immediate cash loans in Mangalore, an applicant needs to bear certain fee and charges like processing fee, prepayment and part payment. Your loan journey includes these charges which you need to pay to the lender each month. Talking about a processing fee, it is a one-time,non-refundable fee which a borrower needs to pay to the lender at the time of availing the loan. While prepayment and part payment charges come to the portfolio when an applicant opts for any such facility.   

 

Apply for Personal Loan in Mangalore

Mangalore is considered as one of the most multicultural non-metro cities of India. It also is a healthcare, educational, commercial and industrial hub in India. There are many such reasons why an individual would want to take loans in Mangalore. Hence many lenders in the market provide quick and easy personal loans to individuals who can fulfill their eligibility.

Feature & Benefit Of Personal Loan

The Best feature and benefit Of a Personal loan 

 

Easy availability: A personal loan is a very popular financial instrument. Hence you can easily find a personal loan in Mangalore being given by a majority of Banks and NBFCs. The individual availing the loan is under no obligation to mention the reason why the loan is needed to the Bank/NBFC.

 

Minimum documentation: A personal loan in Mangalore requires less documentation. The major reason for this is the absence of collateral. If there is collateral set in a loan, then the individual has to provide multiple documents along with the normal documents required by the lender. Here, in personal loan there is no such collateral and hence the number of documents required is very less.

 

Loan is approved quickly: A personal loan can be availed by an individual very quickly if they fulfill the eligibility criteria and also submit all the documents. If the individual can complete the process without any issue, then the Bank/NBFC can provide a personal loan in Mangalore within 5-7 working days.

Multi-purpose loan: A personal loan can be utilized by an individual for many reasons which can be personal or professional. Hence a personal loan can be termed as a multipurpose loan.

Flexible type of loan: An individual can get flexible options from the lender to avail a personal loan in Mangalore. This is possible when the credit history of the applicant is very good. The Bank/NBFC offers better interest rates to their long serving customers who have a good credit history with lesser or no defaults. They also might offer to waive off processing fees and prepayment charges.

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Documents Required For Personal Loan

Mentioned are the personal loan documents for salaried and self-employed.

 

 

Group 13142 Complete Online Application

Fillup the Online loan Application in just 2 minutes

 

Group 13143Provide Identity Proof

Voter id/ Passport/ Driving License / Aadhaar Card

 

Group 13144 Address Proof

Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card

 

Group 13145Bank Statement

Latest 3 Months Bank Statement or Passbook

 

Group 13147Income Proof

For Salaried – Latest 3-month Salary Slip

                    For Self Employed –  ITR and Current Bank Statement of 3 months

Frequently Questions

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Will the banks charge me with a processing fee?

Yes, usually Banks/NBFC’s do charge a processing fee of 2-2.50% of the loan amount. But you can always negotiate with the bank to reduce this fee.

Is part- prepayment allowed on my personal loan?

Personal loans can be prepaid in parts or fully at any point of time. Some banks charge a prepayment penalty while some don’t. Very few Banks and NBFC’s allow the part-prepayment. Thus read all the loan documents carefully before signing

Can I club my income with my spouse to take a personal loan?

Yes, you can club your spouse’s income in order to boost your eligibility to get a personal loan.

Do I need to open a bank account to service my personal loan?

It is not mandatory to apply for a bank account before taking a loan. But if you have an account with the bank, you become eligible for a relationship discount. Some banks also provide you additional services along with relationship discounts.

Can I Track my Loan Application?

Yes, you can track your application online. You simply need to enter your loan application number either on the app or at your online account.

Whom should I contact for any queries related to my loan?

For any of your loan-related queries, you can call the customer care executives of the bank. 

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