Best Personal Loans in Btm Layout, Bangalore
BTM Layout is located towards the south of Bangalore and it is one of the most preferred residential locations in the city for college students and young professionals. It is a well settled locality with high property prices being a nodal location with connections to Jayanagar, Koramangala, Electronic City and Sarjapur. The abbreviation BTM stands for Byrasandra, Tavarekere and Madiwala which surround the locality. The area is known for the madiwala lake, restaurants, music venues and cafes. Some educational institutions in the area include Buddha Education Society and hospitals include the Jayadeva Institute of Cardiology.
Personal loans in Bangalore are given by most major banks and financial institutions to individuals without asking for the requirement or need. They are unsecured loans given from Rs. 50,000 to Rs. 40,00,000 which means that you need not mortgage anything or show an asset. The most common reason for taking a loan is debt consolidation. Some of the other reasons include medical, travel, home renovation, wedding and so on.
You need to have a good credit history and adequate salary to get a loan sanctioned. Other factors like years of employment, company you work for etc will determine the most important factors like amount, tenure and rate of interest. Some of the banks in Bangalore give you the flexibility to pre-close the loan without any additional charges. Most banks have a pre-closure charge in the 4%-5% range.
There are multiple banks which offer a personal loan in Bangalore such as HDFC Bank, ICICI Bank, Kotak bank, Axis bank and so one. There are also multiple NBFC’s in Bangalore such as Bajaj Finserv, Fullerton, Tata Capital, etc which offer unsecured personal loans.