Best Personal Loans in K R Puram, Bangalore
K R Puram which is an abbreviation for the full name Krishnarajapuram is a suburb located in Bagalore. It is most famous for its market which has been held in this area for the past 150 years. The area is located towards the edge of the outer ring road giving it good connectivity to the rest of the city. The area also houses a large number of government offices as well as a residential locality. It is known for its greenery which surrounds lakes like Vengayyana Lake and Yelemallappa Shetty Lake. Some of the places to visit in this area include the Mahabaleshwara and Rama temple as well as St. Anthony’s Roman Catholic Church.
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.