Personal Loan


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Personal Loan in Bhopal

A Personal loan is unsecured in nature. That means you don’t have to keep any kind of collateral for taking this loan. Prior to 1999, loans were taken for serious and important reasons only. But today, apart from emergencies or serious issues, a personal loan is also taken for a paltry reason like buying an expensive phone. Yes, understanding that the customer today is open to taking a personal loan, many leading banks and NBFC’s offer hassle free personal loan to their customers quickly. A personal loan is a very popular loan from all the loan products in Bhopal.
Bhopal is also known as the “city of lakes” in India. It is one of the most populous and important cities in India. People residing in Bhopal take various types of loans. Usually, a person would take a personal loan when there is a short term obligation and payment is necessary. In such cases taking a personal loan is advisable. Also, taking a personal loan and repaying it on time helps you better your credit score which helps you strengthen your financial position.
The tenure offered to you by any Bank or NBFC in Bhopal will be around 5 to 7 years. They will also provide a rate of interest that begins from 11.29%* onward. Also, Banks and NBFCs in Bhopal have offered personal loans to their customers whom they can pay in easy EMI options. Banks and NBFCs in Bhopal have a systematic process for all the personal loan applications. This is based on the applicant’s financial strength. They will also check the credit score which is very important today. Yes, with a good credit history, the Bank and NBFC can understand your repayment capability and also finalize the rate of interest and tenure. Their analysis is extensive as they don’t want any of their customers to default in repaying back the loan.

Why Choose Ruloans To Apply For Personal Loan in Bhopal?

Ruloans is a loan distribution house which is known to offer different types of loans all around Bhopal. With our user friendly interface, you can easily apply for a personal loan in Bhopal in a few steps. Below listed are few reasons why you should choose Ruloans;

Hassle free process

We have made our website hassle free. That means we have made the process user friendly so that they can easily apply for a personal loan in Bhopal. The best advantage of applying on the Ruloans online portal is that you can compare your loan options, check eligibility and upload documents easily.

Benefits of applying with us

Ruloans has partnered with many leading banks and NBFCs in Bhopal. When you apply for a personal loan on Ruloans, we will help you get the best personal loan offers and deals from our partner banks and NBFCs in Bhopal.

Compare your loan options

When you visit our online portal, you will have to fill in your basic details and requirements with regards to the loan like desired amount, tenure and rate of interest. After submitting these details, you can compare and choose from a list of lenders who can give you a personal loan in Bhopal. The main highlight of filling the details on our page is that on one page you can easily compare interest rates, processing fees and many other details of various banks and NBFCs. This helps you to choose a personal loan as per your need.

Free expert guidance and advice

Ruloans provides all these services to their customers free of cost. Yes, you can get all the guidance you need from us without paying a single penny.

Privacy policy

At Ruloans we are of the belief that privacy is the most important aspect with our customers and hence we have a very strict privacy policy. We do not share any of your documents and other details with any 3rd party except the lender you choose to take a loan from.

What are the Features & Benefits of taking a Personal Loan in Bhopal?

Taking a personal loan in Bhopal has its own benefits. One of them being that the loan amount comes of great help in the present situation as you are in an urgent need of funds that might be needed for payments or any other expense. Also, there are many benefits associated with applying for a personal loan in Bhopal...

  • Easy availability: When you apply for a personal loan in Bhopal, many leading banks and NBFCs will offer a quick and easy process to you (customer) so that you can avail a personal loan in Bhopal a smooth manner. Applying with Ruloans gives you the sole authority to choose a lender of your choice.
  • Minimum documentation: Applying for a personal loan will require lesser documentation than the remaining loans. One main explanation for this is that the applicant does not require keeping any kind of collateral while taking a personal loan.
  • The loan is approved quickly: When all the documents are correctly submitted, the Banks and NBFCs in Bhopal approve the personal loan within 24 to 48 hours*. The only thing you must be cautious about is that only after submitting all the correct documents, the loan will be disbursed.
  • Multi-purpose loan:A personal loan is a multipurpose loan that fulfills a lot of needs right from personal to professional obligations. Banks and NBFCs in Bhopal will not ask the applicant any reason for taking a personal loan.
  • Flexible type of loan: When you avail a personal loan in Bhopal, you can always negotiate the rate of interest and other terms with your loan lender before taking the loan. You can be at a good advantage if your credit history is good. In that case, the lender will allow you certain waivers and benefits too. Thus this kind of a loan is called as a flexible type of loan.

What are the Eligibility Criteria to avail a Personal Loan in Bhopal?

While applying for a personal loan in Bhopal, all the Banks and NBFCs have a list of specific criteria that an individual needs to possess. If you are eligible as per the criteria, then you can always get a quick personal loan in Bhopal.


Particulars Salaried Borrowers Self-Employed Borrowers
Age 21 years to 60 years 23 years to 60 years
Income Rs. 15,000 (Rs. 20,000 in metros) Turnover of minimum Rs. 24,00,000 (differs for professional and non-professional)
Maximum Loan Amount Approved Rs. 15,00,000 Rs. 15,00,000 to 20,00,000
Minimum Loan Amount Approved Rs. 75,000 Rs. 75,000 to Rs. 3,00,000
Loan Tenure 12-72 months 12-48 months
*Please note that the eligibility criteria will always differ from lender to lender. The above details listed are generic and hence are not specific to just one lender.

What are the Documents Required to avail a Personal Loan?


Below listed are the different sets of documents that you will need in order to avail a personal loan.
Particulars Salaried Borrowers Self-Employed Borrowers
Identity Proof Passport, Driving License, Voters ID or PAN Card Passport, Driving License, Voters ID or PAN Card
Address Proof Passport or utility bills Passport or utility bills
Bank Statement Latest 3 months of Salary Account Last 6 months
Additional Documents Salary slips for last 3 months Proof of highest professional degree
2 year employment continuity document Latest Income Tax Return Balance sheet
Profit and Loss for last 3 years certified by CA
*Please note that the eligibility criteria will always differ from lender to lender. The above details listed are generic and hence are not specific to just one lender.

How to Apply For a Personal Loan in Bhopal on Ruloans?

You only have to go through 5 steps to apply for a personal loan on Ruloans:


How to Apply For a Personal Loan in Bhopal on Ruloans?
Step 1 First, you will have to visit the ‘Personal Loan in Bhopal’ page on our website and click on ‘Check Your Eligibility’ box.
Step 2 Then you will need to fill out personal and financial information. Once you complete those details, our loan calculator will check your eligibility with its highly efficient algorithm.
Step 3 As per the details entered by you, our loan calculator will provide you with a list of banks and NBFCs that are most suitable for you as per the eligibility criteria. This list will include names of all the financial institutions, their interest rates on offer, required list of documents etc.
Step 4 Once you go through the list, research and choose the lender of your choice. You can start filling up the form and then upload the required documents. In case you feel you have a doubt or need any assistance, please do not hesitate in calling our experts for advice. You can also drop us an email and our representative will help you. The contact details are given on our website.
Step 5 As we spoke above about privacy and how we are strict regarding it, your application will be sent electronically to the Bank/NBFC you selected. There is complete privacy. Also, you will be informed about the status of your application via SMS, email or you can track it via our website too.

Frequently Ask Questions

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