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Apply For Instant Personal Loan In Bangalore

Bangalore is the Silicon Valley of India. The metropolis has made a substantial contribution to India's IT supremacy, with a strong history of leading R&D labs, reputed educational institutions, and public sector enterprises. The city’s technological capabilities and the sea of opportunities that come with it attracts many people from across the country. But Bangalore is an expensive city. Starting your life in Bangalore can be costly, and that is the reason why personal loans in Bangalore are so popular. From putting down a deposit for a rented apartment to finding the right clothes for work, a personal loan in Bangalore for salaried individuals covers it all. Personal loans in Bangalore can also help build your own start-up. Individuals who want to work on their own business can get all the support they need from Metra Trust. Apply for a personal loan in Bangalore for business and kickstart your journey as an entrepreneur.

Features of an instant personal loan in Bangalore

These features are only applicable when you take the personal loan for salaried individuals in Bangalore from Metra Trust. If you wish to know more about Metra Trust as a personal loan provider in Bangalore, head to the personal loan section on the website.

Competitive interest rates starting at 10.75%

Competitive interest rates starting at 10.75%

Completely digital, paperless online process

Completely digital, paperless online process

Balance transfer of existing personal loans and credit cards at affordable rates

Balance transfer of existing personal loans and credit cards at affordable rates

Use a Personal Loan, and save the day!

Living in Bengaluru may not be as cost-effective as you think. Therefore, many people in Bengaluru are opting for an instant personal loan, whenever the need arises. Let’s take a look at a few instances where a personal loan can come handy:

Travel expenses

Bangalore is known for its congested roads. In such instances, using a public mode of transport could leave you late for work or even make you feel claustrophobic. Thus, it makes sense to invest in a two-wheeler while residing here. A two-wheeler helps you mitigate traffic and ensures you are on time. More and more people are taking out instant personal loans in Bangalore to purchase a two-wheeler.

Weddings

Weddings come with unprecedented expenditure. Thus, for weddings the instant cash loan in Bangalore is the most sought out kind of personal loan.

Home renovation

If you are moving into a rented place, it goes without saying that you might want to add your own touches to it. Most people take out an online loan in Bangalore, which is a quick and easy way to meet your renovation needs.

Medical emergencies

Medical emergencies may leave you in a financial crunch with little to no heads up. An urgent personal loan in Bangalore is a handy backup option to have.

Travel expenses

Bangalore is known for its congested roads. In such instances, using a public mode of transport could leave you late for work or even make you feel claustrophobic. Thus, it makes sense to invest in a two-wheeler while residing here. A two-wheeler helps you mitigate traffic and ensures you are on time. More and more people are taking out instant personal loans in Bangalore to purchase a two-wheeler.

Weddings

Weddings come with unprecedented expenditure. Thus, for weddings the instant cash loan in Bangalore is the most sought out kind of personal loan.

Home renovation

If you are moving into a rented place, it goes without saying that you might want to add your own touches to it. Most people take out an online loan in Bangalore, which is a quick and easy way to meet your renovation needs.

Medical emergencies

Medical emergencies may leave you in a financial crunch with little to no heads up. An urgent personal loan in Bangalore is a handy backup option to have.

Loan disbursal amount
 

Along with the loan disbursal amount, it is also essential to know how fast you can expect the amount in your account.
At Metra Trust, you can borrow an amount ranging from ₹20,000 to ₹40 lakhs based on your eligibility score.

Minimum salary to apply for a personal loan in Bangalore
 

The minimum salary an individual is supposed to have when applying for a loan in any part of India is ₹20,000. Thus, to apply for a personal loan in Bangalore an individual needs to make ₹20,000 per month.

Interest rate and charges in Bangalore for a personal loan
 

Types of Fees Applicable Charges
Personal loan interest rate Starting 10.75%
Processing fees Processing Fees of upto 3.5% will be deducted from the loan amount at the time of disbursal
Late payment fees 2% of the unpaid EMI or Rs 300 whichever is higher. The late payment fees might be applicable from the date of default to the date of payment.
Stamp duty As per actuals

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How to apply for a personal loan in Bangalore

If you are applying for a personal loan in Bangalore, here is what you need to know:

The application process for an instant personal at Metra Trust is completely online. You can apply on our website or our mobile app and avail of loan without having to visit the bank. The online application process at Metra Trust involves four stages.

Stage 1: Online application

To apply for an urgent loan in Bangalore, visit our website or the Metra Trust Loans app. You can apply for a personal loan online by filling an online application form, which has a few mandatory questions. These questions help us evaluate your candidature.

Stage 2: Approval

Based on your eligibility, your loan request will be approved.

Stage 3: Upload documents

Upload the documents needed for verification.

Stage 4: Disbursal

After verification, the loan will be disbursed into your account. Metra Trust’s instant personal loan is one of the quick and easy ways to receive financial support. With a simple process and fast disbursal, you can fulfil your financial requirements instantly.

Eligibility

Documentation

When self-employed or salaried individuals want to avail of a personal loan in Bangalore, they will need to submit the following documents:

  • PAN Card
  • Form 60 (To be submitted only if PAN card is not available)
  • Any 1 Official Valid Document (OVD) is mandatory from the below:
  • Valid Passport with expiry date, photograph, and signature
  • Aadhaar Card issued by UIDAI
  • Voter’s Identity Card issued by Election Commission of India
  • Driving License issued by regional transport authority
  • Job Card issued by NREGA duly signed by an officer of the State Government
  • National Population Register containing details of name and address

Who Can Apply

For self-employed individuals

  • Minimum age: 25
  • Maximum age: 65 (at the time of loan maturity)
  • The business must have been in existence for a minimum of 3 years

For salaried individuals

  • Minimum age: 23
  • Maximum age: 60 (at the time of loan maturity) or retirement, whichever comes first
  • Minimum monthly salary: ₹20,000 per month
  • A personal loan eligibility calculator can be used to check eligibility in just a few seconds

Personal Loan in Bangalore

FREQUENTLY ASKED QUESTIONS

What should I say my personal loan is for?

Personal loans allow you to obtain funds for personal expenses such as an emergency, higher education, holidays, or some other need such as a family wedding. You can specify the reason for taking a personal loan while applying for the loan.

What is the minimum salary for personal loan in Bangalore?

The minimum salary needed for a personal loan in Bangalore is ₹20,000. If your salary is ₹20,000 or more, you can avail of personal loans with minimal effort. Metra Trust offers personal loans ranging from to ₹20,000 to ₹4,00,000 if you meet the eligibility criteria.

Can I get a personal loan if my salary is ₹15000?

No, you cannot get a personal loan in Bangalore if your salary is ₹15,000. Still, you can check with the bank to see if you can avail of a small personal loan. Besides your salary, other factors such as your age and credit score are considered when you apply for a personal loan.

Why should I take a personal loan from Metra Trust?

Metra Trust offers personal loans for many reasons, including weddings, vacations, education, home renovations, and emergencies. Personal loans can be utilised to meet immediate financial requirements as well as to borrow funds for non-emergency personal expenditures. Metra Trust provides loans up to ₹40 lakhs with affordable EMIs starting at ₹2,149/lakh* and repayment terms of up to 5 years.

Who can apply for Metra Trust personal loan?

For both self-employed as well as salaried persons, Metra Trust offers a quick personal loan online. However, you must meet specific criteria to avail of an online personal loan with low EMI. Factors such as your income, credit score and debt profile are considered when you apply for a personal loan in Bangalore.

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Credit Score for Personal loan

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Personal Loans for a Credit Score of 550

Personal loans are one of the easiest loans to acquire. They are unsecured loans, which means one does not need to offer collateral. They can be used for a multitude of purposes. There is minimal documentation involved and a relatively shorter processing time as well. However, one of the most important considerations when applying for a personal loan is your CIBIL score.

Team FinFIRST14 Sep 2021 • 3 mins read

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Bangalore

BANGALORE-KCA ENCLAVE

1ST FLOOR, 582, KCA ENCLAVE, 80FT ROAAD, BANGALORE 560095.

Phone 1860 500 9900

Bangalore

BANGALORE-VIJAYNAGAR

1234/A, 1ST FLOOR, 1ST CROSS, 1ST STAGE, 2ND PHASE, EXTENSION, CHANDRA LAYOUT VIJAY NAGAR NEAR CHANDRA LAYOUT BUS STOP, OPP CORPORATION BANK, KARNATAKA 560041.

Phone 1860 500 9900

Bangalore

BANGLORE-VG COMPLEX

VG COMPLEX”, #.23, 2ND FLOOR, HESARAGATTA ROAD, DEFENCE COLONY, BENGALURU, KARANATAKA 560073.

Phone 1860 500 9900

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