Personal Loan

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Personal loan in Mangalore

A Personal loan is one of the most famous financial instruments. This is because a personal loan is multipurpose in nature. An individual can utilize the funds availed from the loan to pay expenses related to tuition fees for higher studies, to fund an engagement or a wedding function and finally to pay for emergencies related to medical cases.
A personal loan in Mangalore can be availed from a variety of leading Banks and NBFCs as it is easily available throughout the city. The tenure for a personal loan in Mangalore is roughly 5-7 years* which means this is a short term loan. Other types of loans are given above 10-15 years*. A personal loan in Mangalore is unsecured in nature. Yes, there is no collateral set for availing a personal loan. Hence the rate of interest is comparatively higher than other loan options. The rate of interest for a personal loan in Mangalore begins from 11.29%* onward. As per your credit history, you can get a better rate of interest from the Bank/NBFC.
Mangalore is considered as one of the most multicultural non-metro cities of India. It also is a healthcare, educational, commercial and industrial hub in India. There are many such reasons why an individual would want to take a personal loan in Mangalore. Hence many lenders in the market provide quick and easy personal loans to individuals who can fulfill their eligibility.

Why Choose Ruloans To Apply For Personal Loan in Mangalore?

Our motto at Ruloans is to provide value added services to our customers that are “much more than money”. Hence an individual can choose Ruloans to apply for a personal loan in Mangalore for a better experience. We have been in the loan industry since a long time and hence have high experience in this field. Over the years we have gained good insights of this industry all due to the efforts put in by our highly skilled and knowledgeable staff. We have come up with a highly proficient algorithmic based loan calculator. Using our experience we have made the loan process easy for the customer as they can now apply for a loan and compare the options accordingly. Using this, we help our customers borrow right.

Hassle free process

We at Ruloans have a lot of experience in the loan industry. Hence using the knowledge and experience over the years we have understood that the customer must be given a hassle free experience. Hence considering all this, we have prepared an easy to use online web portal where the customer can not only browse through the loan process but also upload their documents easily.

Benefits of applying with us

Ruloans has partnered with over 50 private Banks and NBFCs. Hence we provide our customers different lender options and they can choose the lender of their choice as per their need. We aim to provide them with the best deals, offers and services provided by our partner Banks NBFCs.

Compare your loan options

Over the years, our team has used their experience and come up with an algorithmic highly proficient loan calculator. Using this calculator, an individual can compare loan options, tenure, interest rates provided by our partnered Banks and NBFCs.

Free expert guidance and advice

Ruloans has been in the loan industry for a very long time and hence with time we have gained a lot of knowledge about this industry. We are also up to date with the trends in the market. Our staff provides valuable insights and advice to all our customers. These services are provided to all our customers free of cost.

Privacy policy

Ruloans gives the highest priority to the privacy policy with regards to the customer’s data. During the loan process, all the transfer of documents take place only with the lender of the customer’s choice and with us. There is no other third party that can get hold of this data.

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

A personal loan allows you to manage your expenses and short term obligations. It also helps you in times of need and emergencies. Hence there are multiple benefits associated with personal loans in Mangalore. Below listed are few features and benefits of personal loans in Mangalore.

  • Easy availability: A personal loan is a very popular financial instrument. Hence you can easily find a personal loan in Mangalore being given by a majority of Banks and NBFCs. The individual availing the loan is under no obligation to mention the reason why the loan is needed to the Bank/NBFC.
  • Minimum documentation: A personal loan in Mangalore requires less documentation. The major reason for this is the absence of collateral. If there is collateral set in a loan, then the individual has to provide multiple documents along with the normal documents required by the lender. Here, in personal loan there is no such collateral and hence the number of documents required is very less.
  • The loan is approved quickly: A personal loan can be availed by an individual very quickly if they fulfill the eligibility criteria and also submit all the documents. If the individual can complete the process without any issue, then the Bank/NBFC can provide a personal loan in Mangalore within 24-48 hours*.
  • Multi-purpose loan: A personal loan can be utilized by an individual for many reasons which can be personal or professional. Hence a personal loan can be termed as a multipurpose loan.
  • Flexible type of loan: An individual can get flexible options from the lender to avail a personal loan in Mangalore. This is possible when the credit history of the applicant is very good. The Bank/NBFC offers better interest rates to their long serving customers who have a good credit history with lesser or no defaults. They also might offer to waive off processing fees and prepayment charges*.

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

A personal loan in Mangalore can be availed by any individual who is eligible as per the Bank/NBFC. The individual will have to provide all the necessary proof via documents showing personal and professional information. Every lender has set criteria which they follow for any individual that wants to apply for a personal loan in Mangalore. But with a plethora of options in terms of Banks and NBFCs, it is tough to keep track of the different criteria set by each of the lender. Hence to lower the confusion of the customer and help them with the documents, we have created a list of documents that are needed by every Bank and NBFC. This can help them in keeping majority of the documents ready.

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?

We have listed few documents that an applicant will need to submit to the Bank/NBFC in order to avail for a personal loan in Indore.
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 Mangalore on Ruloans?

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

How to Apply For a Personal Loan in Mangalore on Ruloans?
Step 1 First, you will have to visit the ‘Personal Loan in Mangalore’ 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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