Reasons to opt for a Personal Loan Bhubaneshwar

A sea-side city buzzing with economic, traditional, and cultural activities, Bhubaneshwar is one of the emerging industrial hubs of not just Odisha, but of the entire country. The city is home to a number of industries like automobiles, electronic hardware, software services, banking & finance, petrochemicals and textiles, drugs & chemicals, medical tourism, traditional arts, and one of the fastest developing IT-sector. Spread in a vast area of 422 km2, Bhubaneshwar is inhabited by almost 10 lakh people. Among this huge population, there are thousands of migrants from other states and cities who come to the city to turn their fortunes. However, surviving and flourishing in a city with such tremendous cut-throat competition can be a tough task. Therefore, many decide to take a personal loan to meet their financial needs or expand their business.

To sustain your lifestyle while covering up certain expenses in a city thriving with business can demand special financial assistance at times. Don’t worry, we have got you covered. Looking for a personal loan in Bhubaneshwar? We help you grab the best deals when it comes to availing of personal loans in Bhubaneshwar from more than a dozen banks and NBFCs. Our network helps you choose the loan especially personalized to meet your requirements because that’s what a personal loan essentially means!

We know how difficult and time-consuming it is to gather information about a suitable personal loan Bhubaneshwar. Availing of a personal loan in Bhubaneshwar can be stressful. Therefore, we have tried to gather all the information in a systematic way to make it your one-stop solution.

Let’s see how to avail of a personal loan in Bhubaneshwar below:

Eligibility Criteria for Personal Loan in Bhubaneshwar

The personal loan eligibility is as follows:

1. Applicant should have a domicile certificate of Bhubaneshwar.

2. Applicant should be above 21 years of age.

3. The minimum Salary of the applicant must be Rs. 25,000.

4. The minimum annual income of the applicant must be Rs. 2.5 lakhs.

Documentation required

1. Identity and Residence Proof

2. Bank Account Statement

3. PAN Card

4. Salary Slip of the past 3 months.

Reasons to Avail Personal Loan in Bhubaneshwar

1. Personal loan for educational requirements of children.

2. Instant personal loan for the purpose of managing the requirements of a wedding in the family.

3. Personal loan for repairing and renovating houses in Bhubaneshwar

4. Personal Loans for expanding business in Bhubaneshwar.

5. Personal loans for covering holiday tour expenses.

6. Personal loans to get vehicles repaired and serviced.

7. Debt consolidation to clear pending dues of personal or credit card debts

8. Personal loan for upgrading your lifestyle in Bhubaneshwar.

Personal Loan Bhubaneshwar Interest Rates

Bank	Processing Fee	Prepayment Charges	Personal Loan Interest Rates
ICICI Bank Personal Loan	0.25% - 1.50%	2%, Nil prepayment charges after 9 months	10.75% - 22.00%
SBI Personal Loan	500/- - 0.50%	Nil	10.75% - 22.00%
HDFC Bank Personal Loan	0.25% - 1.50%	2%, Nil prepayment charges after 9 months	10.75% - 22.00%
Axis Bank Personal Loan	0.50% - 1.50%	Nil	11.50% - 19.50%
IIFL Personal Loan	Nil	Nil	10.50% - 22.00%
Andhra Bank Personal Loan	Nil	Nil	10.50% - 18.99%
IndusInd Bank	0.75% - 1.75%	Nil	11.00% - 20.00%

The tenure for the loan ranges between 1-5 years. To know how the Equated Monthly Instalments or EMIs, kindly check it on your personal loan EMI calculator.

Leading Personal Loan Lenders in Bhubaneshwar

Feature	HDFC Bank	ICICI Bank	Bajaj Finance
Interest Rate	10.50% - 18.50%	10.75%	12%
Min Loan Amt	Metro: 75000 & Non-Metro: 50000	25000	15000
Max Loan Amt	1 Cr	1 Cr	1 Cr
Loan Tenure	1 - 5 Years	9 months to 24 months	1 month to 24 months
Processing Fee	0.99% to 2.0% of the Loan Amt	0.25% to 1.50%	Nil
Prepayment Charges	2%, Nil foreclosure charges after 3 months	2%, Nil foreclosure charges after 9 months	Nil
Overdraft Facility	Yes	Yes	Yes

Note: 

. IT-industry employees are offered personal loans on special interest rates in Bhubaneshwar.

. Special personal loan schemes for state and central employees.

Also read this for more update: Who can qualify as a personal loan guarantor?