In this post, I’ll explain some amazing ways to get personal loan online in Bangalore without having all the hassle you usually have with banks and at some really good and low interest rate. In this guide, I’ll mention 5 methods to apply for a loan when living in Bangalore.
5 Methods To Borrow Money Online In Bangalore
- Peer to peer lending : P2P lending is a form of lending where an individual or multiple lenders invest money directly in a borrower at a negotiated interest rate which ranges from 12-36% which borrowers pay in reducing EMI’s through an online platform. The concept of p2p lending is still new in India however already there are thousands of active borrowers and lenders are exchanging with platforms like Lendbox, I-lend and Rupiya exchange. Getting a personal loan in Bangalore through a p2p lending platform is an amazing deal.
- Loan With Banks : A lot of banks like Vijaya bank allow to apply for a personal loan online through their website and also claims to disburse within a few days of approval however this requires you to go to the nearest bank branch to submit the required documents and the approval have really low chances as the they require a good credit score.
- Lending Money Through Facebook : This may sound a little weird but it is very much possible and a lot of people has been raising money through facebook. It is very much like p2p lending and crowd funding where you join a group with Bangalore lenders, provide documents, get approved and then bid for personal loans with private lenders.
- Committee : Although, it is very costly compared to other forms of lending but still a very efficient method to get money in case of emergency. Committee is an informal way of lending where a lot of lenders combine a sum and interested borrowers bid for the rate of interest.
Hope this list will help you with getting a personal loan in Bangalore, if you found this article helpful then feel free to share it and help other peoples too.
Personal Loans Help Guide 