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Introduction to Personal Loans in Mysore

Mysore is a metropolitan city in the state of Karnataka. It is the third-largest city in Karnataka and one of the cleanest cities in the country. The city has a rich cultural heritage and is home to heritage structures, due to which it is also popular as ‘Heritage City’ and ‘Cultural Capital of Karnataka’.

Whether you are a working professional or a businessman, living in Mysore, you may require money for urgent needs or to fulfil goals. At this time instant personal loan in Mysore from lendingplate can help you.

lendingplate offers quick personal loans with low interest rates. You can apply for a personal loan online through our website. You will get instant approval and fast disbursement.

Personal Loan EMI Calculator

Want to plan your payments with our personal loan EMI calculator monthly? Get clear numbers in seconds to make smarter borrowing decisions.

Amount
25000
Duration
12 M
Interest Rate
36 %
Monthly EMI

₹2512

Total Interest ₹5144
Total Amount ₹30144

Features and Benefits of Personal Loans in Mysore

The personal loan offered by lendingplate comes with lots of features and benefits. Let’s go through it: -

Quick Loan Approval

Personal loans need quick approval as they are for urgent needs. Hence, we give quick approval to personal loans as soon as they’re reviewed by the loan experts.

Collateral Free Loan

We offer collateral-free loans. Hence, you don’t have to pledge any security to get an instant loan in Mysore.

Low Interest Loans

We offer personal loans at low interest rates. It starts with 12% per annum.

Flexibility

We offer flexible repayment tenure. Customers can choose the repayment period as per their convenience from 3 months to 15 months.

No Hidden Charges

We don’t hide any charges from our customers. Whatever charges there are, we declare them upfront.

Freelook Offer

At lendingplate we also have a free look offer. The borrower is free to return the entire loan amount within 3 days. He won’t be charged any extra charges for it.

Eligibility

In order to apply for personal loan finance in Mysore, you need to meet certain eligibility requirements. Here are the minimum requirements for personal loans in Mysore: -

  • Credit Rating: Your credit score shall be a minimum of 750 for loan processing.
  • Age Bracket: Age shall not be less than 21 years and not more than 58 years.
  • Nationality: Only Indian citizens can apply for personal loans.
  • Occupation: Private sector employees working in MNCs and government employees can apply.
  • Work Experience: A minimum of 1 year of work experience is a must.
  • Salary Credit: Regular monthly salary credit shall be reflected in your bank account

Documents

The following documents are needed for an instant personal loan in Mysore: -

  • Identity Verification: You need to provide any one of the identity proofs from PAN card, Aadhar, Passport and Voter ID.
  • Residence Verification: For residence proof, you can provide a utility bill, rent agreement or home loan statement.
  • Income Confirmation: Income confirmation needs to be given with proof like Salary slips, bank statements, or tax returns.
  • Passport Photo: You need to provide passport-size photographs.
  • Job Continuity Proof: You need to give job continuity proof from your present employer.

 

How to Apply for a Personal Loan in Mysore?

If you are looking for an instant personal loan in Mysore, then lendingplate is the perfect solution. Here are the steps that you need to follow to apply for a personal loan at lendingplate: -

Assess Your Loan Eligibility

Get a check on your loan eligibility. If you fulfil the loan eligibility criteria, then only you can apply for personal loan finance in Mysore.

Begin Your Application

After verifying your loan eligibility, you can proceed to start the application process. Go to lendingplate website and sign up. Fill in the details and fill up the form.

Submission Of Documents

Only a few basic documents are required to process the loan. Scan the documents and upload them online.

Verification

Our team of loan specialists will verify your loan application and documents. They will evaluate your application and give final loan approval.

Quick Disbursal

Personal loans are needed for urgent needs. Hence, we provide quick loan disbursement.

Interest Rates and Charges on Personal Loans in Mysore

We at lendingplate maintain complete transparency with our interest rates as well as other charges mentioned below –

Charges Details about the Charges
Processing Fee 1% - 5% of loan amount
Conversion Fee 1 - 5% of the amount
Interest Rate 12% - 36% per annum
Foreclosure 5% of the amount [Nil when prepaid on or after your]
Mandate Return Fee 500/- [inclusive of GST]

lendingplate’s Personal Loan Available Across India

Frequently Asked Questions

A minimum income of ₹20,000 per month is expected from a personal loan applicant.

You need to have a minimum credit score of 750 to have a personal loan.

It won’t take more than 24 hours to process the personal loan application.

Failure to pay the loan EMI can result in penalty charges. It will also impact your credit score.

There are no direct tax benefits for personal loans. But if a personal loan is availed for certain purposes, then it can attract tax benefits. This includes home renovation, education expenses, starting a business, etc.

Only Indian residents can apply for personal loans in Mysore.

You are eligible for a maximum loan of ₹2.50 lakhs.

The personal loan eligibility calculator can be used to check personal loan eligibility.

Personal Loan as per Budget

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Personal Loan as per Salary

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