Instant Online Personal Loan in Mysore

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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.

  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

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

  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 Mysore



Interest Rates

Loan Amount


Processing Fee

Apply Online


9.60% to 13.60% per annum

Up to 15 Lakh

Up to 5 Years

Nil – 1% of the Loan Amount + GST

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11.25% to 22.00% per annum

Up to 20 Lakh

Up to 5 Years

Up to 2.25% of loan amount+GST

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10.75% to 21.30% per annum

Up to 15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount

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Axis Bank

12%-24% per annum

Up to 15 Lakh

Up to 5 Years

As applicable by the bank

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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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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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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

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Fullerton India

12.99%-36% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 3% of the loan amount

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Personal Loan Eligibility in Mysore


Eligibility Criteria



Minimum Age



Maximum Age



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


Rs.1-2 lakh(annual)

Personal Loan In Mysore At A Glance




Interest Rates

Starting at 10.99% per annum

Loan Amount

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


Up to 5 Years

Processing Fee

1.50%-2.50% of the loan amount+GST

Minimum Monthly Income


Cibil Score

Above 750 (out of 900)

Prepayment/Foreclosure Charges

2%-6% of the principal outstanding +GST


Personal Loan in Mysore?

A personal loan is a short-term loan which could be used for any legitimate purpose. You won’t be required to pledge any form of collateral or security. It can be used to meet immediate personal expenses with instant approval and disbursal of the loan amount.  A personal loan has several advantages including relatively simple documentation, flexible loan tenures and no restrictions on how you use the money.


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 Mysore?

An instant loan in Mysore can easily be availed online. With many banks and NBFCs, applying and finally availing this unsecured loan online is really convenient. The online process is really simple and fast hence saves a lot of your time, making personal loan journey a hassle-free affair. In just a few simple steps, you would be able to apply for a personal loan to cater your diverse needs.  


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 Mysore

To get an instant cash loan in Mysore, a cibil score of 750 or above is considered to be good enough. Yes, an individual needs to have this score to enjoy a smooth sail. Talking about the score, a personal loan being an unsecured credit is risky for lenders to give. And, it can only be given to those who are having a good score. After all, a good score is an indication of fair credit history which means easy loan repayments. Thus, with the help of a credit score, it becomes easy for the lenders to know the credit profile of a borrower better. Hence, can decide whether the loan profile of a borrower is creditworthy or not.

Minimum Salary Required to Avail Personal Loan in Mysore

If you want to avail a personal loan in Mysore, your minimum monthly income should be Rs.35,000. Mysore being a hub of many working professionals is also home to numerous multinational companies. And, people working in those firms are receiving the monthly income which varies according to their profile. Thus, people of Mysore have a high living standard and in case they fall short of funds, personal loan is always there. Yes, with many leading banks, NBFCs and online lending marketplaces, it would be easy for you to get a personal loan online. Make sure you meet the required minimum income criteria to avail the loan easily.

Personal Loan EMI Calculator

When it comes to an EMI Calculator, it is considered to be a smart and easy-to-use online tool. This device with its well-designed algorithms lets you know the accurate calculations of your monthly installments. Well, not only EMI but Interest Outgo and Total Amount Payable can also be known by this smart tool. It starts to function, after you enter: 

  • Loan Amount 
  • Tenure 
  • Interest Rate  

Soon you enter these credentials into the device, it will churn out the accurate results for you and that too in the least time frame. Hence, the device helps in taking calculative decisions, making your personal loan journey hassle-free.  

Let’s understand the functioning of the device, with the help of an example. Suppose, a person has taken a personal loan of Rs.10 lakh at an interest rate of 14% per annum for a tenure of up to 5 years. Now it would be interesting to see the EMI calculations come out using a personal loan EMI calculator. 


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.)
































Table Showing Principal, Interest and Balance Amoun


Principal (in Rs.)

Interest(in Rs.)

Balance Amount(in Rs.)






















Personal Loan Fee & Charges

When it comes to availing a personal loan, there are certain charges that you need to bear. Yes, charges like processing fee, prepayment and part payment are also a part of your personal loan journey. However, these charges vary from lender to lender. Thus, it would be advisable that you should check the same before going for it. 


Apply for Personal Loan in Mysore

Located in the foothills of the Chamundi Hills, Mysore is the third most populous and largest city in the state of Karnataka. Being the major industry to tourism, the city attracts millions of tourists every year. The city also consisted of major companies like Infosys, Wipro, ArisGlobal and Larsen & Toubro Infotech. With its flourishing economy, banks and NBFCs are seen to be expanding their business by providing multiple loans to their customers at an attractive interest rate.

To get a personal in Mysore at a good terms and conditions, it is advisable to carry out in depth research before you settle with one financial institution.

Feature & Benefit Of Personal Loan

The Best feature and benefit Of a Personal loan 

Competitive Interest Rates: Avail personal loan at a competitive interest rate and enjoy  easy EMIs. Yes, personal loan interest rates are directly linked to monthly installments. The lower rates you have, the better it is for your monthly installments as you EMIs would be pocket-friendly.

Quick Approval & Disbursal: If your eligibility matches with the lender, you can easily get instant approval and disbursal of the loan. For a quick process, it is important that your personal loan eligibility matches as then only you would be able to get the loan instantly. Hence, in return expect the speedy approval and disbursal of the loan amount. 

Simple Online Process: As far as applying is concerned, you can easily apply online. Yes, the online process is quite simple, safe and time-saving as well. You simply need to follow a few steps and you are done. The journey is quite easy and simple hence is preferred by many. 

Complete Credit Assessment:  When it comes to credit assessment, you won’t be able to get it at any other site than Quikkloan. Yes, this online marketplace not only makes your personal loan journey hassle-free but also provides you with complete assistance. Yes, the process involves the complete credit assessment that includes keeping a close eye on the credit score. Evaluating the same so that it will improve for the better. Not only this, checking the eligibility and then referring your loan application to an apt lender. Well, doing so ensures that the right profile reaches to the right lender, thus lowering the chances of rejection.

Easy Loan Repayment Tenures:  The best thing about a personal loan is that it comes with flexible repayment tenures. Yes, one can easily repay his loan with the tenure options of up to 5 years to choose from. Talking about repayments, the longer tenure you have, the better it is. Yes, your monthly installments would become pocket-friendly hence easy loan repayments. 

Documents Required For Personal Loan

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



Complete Online Application

Fillup the Online loan Application in just 2 minutes


Provide Identity Proof

Voter id/ Passport/ Driving License / Aadhaar Card


Address Proof

Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card


Bank Statement

Latest 3 Months Bank Statement or Passbook


Income Proof

For Salaried – Latest 3-month Salary Slip

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

Frequently Questions

How long does a bank take to approve an application for a personal loan?

It depends from bank to bank as each lender has its own process. Usually a loan application is approved within 5-7 working days.

How is a personal loan repaid?

The personal loan can be repaid by paying the loan amount back to the bank in the form of Equated Monthly Instalments (EMIs). A borrower can opt for an auto-debit payment, wherein the EMI amount will automatically be debited from your bank account.

Can I get the balance transfer facility with my personal loan?

Availing a balance transfer facility depends on the bank. There are some banks that offer the balance transfer facility if the customer has made at least 12 EMI payments. It is advisable that you check with your bank before you apply for the loan.

Are there any additional charges that an applicant has to pay when he/she gets a personal loan from a bank?

Yes, there are a couple of different additional charges. Most banks charge an applicant an interest fee that ranges from 2% to 2.5% of the total amount that they wish to borrow. The fee is deducted from the amount that has to be disbursed to you.

Can I receive Tax Benefits on my personal loan?

Unless the personal loan is used for a home renovation project, tax benefits are not associated with personal loans. You can, however, avail tax benefits under Section 24 of the Income Tax Act on the interest that is paid on the loan but not on the principal amount that is paid.

What are the Factors That Can Influence Personal Loan Interest Rates?

These factors include your income, repayment potential, credit score, etc.

Is the GST Levied Over the Interest Rate on a Personal Loan?

No, the Goods and Services Tax (GST) is not levied over the interest rate on a personal loan.

What are the Types of Personal Loan Interest Rates That Lenders Offer to Borrowers?

Personal loans can be offered on a flat and reducing balance basis. In a flat rate, the interest will be charged on the principal outstanding all the time irrespective of which stage the loan is in. Whereas, in a reducing balance, the interest is charged on the principal outstanding left after the EMI payment.

What is an EMI?

An Equated Monthly Installment (EMI) is a sum of principal and interest payable every month to the lender. Greater the rate of interest, the higher will be the EMI amount and vice-versa.

How Soon Can You Apply for a Personal Loan?

Anyone working in a public or private entity can apply for a personal loan as soon as he/she attains the minimum age of 21 years. Self-employed, on the other hand, will need to be a minimum of 24 years at the time of loan application.

How Much Work Experience is Required to Get a Personal Loan in India?

You must have worked for a minimum of 2-3 years to get a personal loan in India. However, lenders also want you to have a minimum of 1-year work experience with the current organization.

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