Private Finance in Bangalore

Private Finance Interest Rates in Bangalore from 18% onwards for the month of Oct 2016

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Every individual or business has their needs for their own welfare and advancement in their life and trade. In the case of individuals it could be for reasons like travel, medical, wedding or to consolidate their debts and finances. In the case of a business this need could manifest in terms of a requirement for capital to operate or advance. In either case the requirement might be urgent and for funds you will go through the channel of financial institutions to meet this need for a personal or business loan. As is the case, banks and financial institutions have rigid criteria and reject a lot of requests for loans or are unable to process them urgently. The alternate channel to approach in such cases is the route of private finance which is provided by private lenders in the form of fast loan, short-term loan or payday loan given to individuals and businesses. This is a form of P2P lending which allows individuals like private lenders to pass personal loans and business loans.

Individual loans and business loans in Bangalore are required to the burgeoning population of the city by various institutions like banks and NBFCs as well as an increasing tribe of private financers and private lenders. With the growth in the urban area ad population of Bangalore, there are a lot of people and businesses who have a requirement for funds to put to various uses. There is a large influx of new workforce in the city with a developing economy as well as a good base for trade and commerce in Bangalore. All their needs cannot be met by the traditional institutions and hence the need for private finance.

All private lenders have their own criteria in lending to individuals and business entities which majorly focus on your ability to pay back as these are quick and short-term loans. In the case of individuals, they focus on criteria like salary, stability in job or business, monthly disposable income and social scores garnered through verified research partners. If you have a business then the most important factors which will be considered are your cash flows, balance sheet, bank statements, debt burden etc. If you are considered eligible then you can expect a loan disbursal in quick time with the signing of legal documents with the private lender. You will need to issue post-dated cheques (PDCs) to the individual private money lender in the current legal framework to pay back your loan amount with interest through EMIs.

So if you are in need of private finance in Bangalore through the route of payday loans or loans of short duration then send us your requirement by filling out forms on our site. We will get back to you in quick time to discuss your requirement and find out your eligibility.

If you need a Private Finance in Bangalore, you must have a good credit history and adequate salary to get your personal loan sanctioned with a Bank or an NBFC in Bangalore. 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.

Eligibility Criteria for Private Finance in Bangalore

  • Age of the applicant should be between 21-60 Years
  • Salaried individual with minimum income of Rs 15,000. Salary bracket would again depend on the city you live in and the company you work for. Eg. If you are in a Metro the salary requirement will be higher than non-metro and again if you are working in a top MNC the salary requirement would be lesser than one working with a startup.
  • Should be staying in the city for at least 1 Year
  • Total work experience should be at least 2 Years
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc
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Documents Required for Bangalore Private Finance

  • Three passport size photographs
  • ID proof – Passport/voter ID/ Aadhar or drivers licence
  • Residence Proof – Passport/ Landline bill/ post paid mobile bill/ rental agreement or Bank Statement
  • Pan Card copy
  • Age Proof – Passport/ drivers licence/school certificate or Pan Card copy
  • Income Proof - Latest 3 months salary slips
  • Banking Statement - 6 months bank statements
  • Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16
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We have greatly simplified your Private Finance search in Bangalore and will help you get it in four simple steps,

Step 1

Start your Private Finance search by using our simple natural language form. Trust us, it takes only 37 seconds to complete!

Step 2

Your information is then passed through our proprietary eligibility algorithm
to tell you the private lenders and NBFCs in Bangalore who can lend to you.

Step 3

After you choose a particular option that seems best to you, we call you and help you with the complete documentation.

Step 4

After you get listed on the platform, our private lenders and NBFCs in Bangalore will pledge and lend to you your loan/finance requirement.

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