Get Personal Loan in Pune at Lowest Interest Rates from Loan Sumo

Are you trying to find a personal loan in Pune at lowest interest rates? Here at Loan Sumo, we can make it happen by connecting you with the right lenders. Being the 9th largest city in India, Pune has a huge market for all sorts of financial products. Most of the major banks and NBFCs have operations in and around Pune. That is why affordable personal loans are highly accessible. The city is also known for its excellent education sector and booming automotive and IT industries. That is why students and professionals from across the country come here to advance their careers and build a comfortable life.

Finding a personal loan in Pune at lowest interest rates

Personal loans are some of the most sought-after financial products. These are lump sum loan amounts that come with flexible repayment terms. Both salaried and self-employed individuals can find a personal loan in Pune at lowest interest rates. Depending on your lender, you may be able to get anywhere from Rs. 20,000 to Rs. 40 lakhs. The interest rate may vary from lender to lender and depending on your credit score. Generally, personal loans have a much lower interest rate than credit cards. That is why experts often recommend going for these loans instead of expensive credit cards for emergencies and short-term financing needs.

Personal loan lenders in Pune also offer flexible repayment schemes. You may anywhere from 1 to 5 years for repaying the loan and the payment is broken down into several fixed monthly instalments. You need to keep up with timely repayment each month until the amount (principal plus interest) is fully paid off. Your credit score affects your eligibility significantly. Just as a good credit score will help you find the best loan deals with the lowest interest rates, a poor credit rating will limit your options. However, thanks to online lenders and lending platforms such as Loan Sumo, you can now find personal loans for bad credit in India.

If you do not know your credit rating, you can now check your CIBIL score for free with the help of Loan Sumo. Knowing your credit rating will help you understand how good your odds are at finding an appropriate lender and personal loan in Pune at lowest interest rates. You can then explore suitable options and take measures to improve your situation.

Features and benefits of personal loans in Pune

As mentioned above, personal loans are perfect for both emergencies and general funding needs. Some of the common reasons for borrowing a personal loan in Pune at lowest interest rates may include medical emergencies, urgent vehicle repair, consolidation of high-interest credit card debts, utility bill payment, insurance payment, purchase of tools and supplies for a new job, sudden home improvement and much more. Unlike a home loan or car loan, a personal loan is unsecured. That means you do not need to provide any collateral or security deposit to obtain the money. It significantly reduces the risk on your part as your property remains unscathed in the event of non-payment. Below are a few other benefits to borrowing a personal loan in Pune at lowest interest rates.

Keeps your debts under control:

Unlike credit cards that provide revolving credit, personal loans in Pune offer you a fixed lump sum amount at once. That means you cannot borrow whenever you want thus reducing the chances of racking up your debts.

Has a fixed interest rate:

Personal loans have a fixed interest rate, which means there is no chance that the interest will increase over time. The lender will have to stick to whatever rate you will mutually agree upon when setting up the loan agreement.

Improves your credit rating:

Since payments are broken down into instalments, paying off the loan becomes much easier. If you make timely payments each month and if the lender reports your payments to the credit bureau (which every responsible lender does), your credit score improves. So, if you are trying to better your credit ratings, a personal loan in Pune at lowest interest rates will help you achieve your goals.

Financial institutions that can provide you a personal loan in Pune at lowest interest rates

Most major banks, NBFCs, online lenders and lending platforms provide personal loans in Pune. You can even find a suitable personal loan app in India that caters to borrowers from all walks of life. Here is a quick list of the top providers that can help you find a personal loan in Pune at lowest interest rates.

Bank/NBFC

Loan amount

Tenure

Interest rate

Processing fee

Capital First Up to Rs. 15 lakhs 1-5 years 12% – 18% Up to 1.5%
Aditya Birla Capital Up to Rs. 30 lakhs 1-5 Years 11.00% – 13.75% 1%
India Infoline Finance Ltd Up to Rs. 25 lakhs 1-5 years 13.49% – 19.99% Up to 2%
Standard Chartered Bank Up to Rs. 30 lakhs 1-5 years 10.99% – 14.49% 0%
Bank of India Rs. 10,000 – Rs. 5 lakhs 1-3 Years 12.90% – 13.90% Rs. 1000 to 10000 plus taxes
Bank of Maharashtra Up to Rs. 1.5 lakhs 1-3 Years 12.70% 1%
Bank of Baroda Rs. 1 lakh – Rs. 10 lakhs 4 Years 11.35% – 16.35% Rs. 1000 – Rs. 10000
Allahabad Bank Rs. 50000 – Rs. 7.5 lakhs 1-5 Years 13% 1.22%
Canara Bank Rs. 3 lakhs 5 years 12.75% Rs. 1000 – Rs. 5000
Dena Bank Rs. 15000 – Rs. 1 lakh 1-3 Years 13.00% – 14.00% 1%

Are you eligible for a personal loan in Pune lowest interest rates?

You can obtain personal loans in Pune only if you meet the eligibility requirements set forth by the lender. Different financial institutions have different qualifying criteria for their personal loan products. In general, you need to fulfil the following requirements:

  • You need to be between the ages of 21 and 60 years.
  • Salaried individuals must have an income of Rs. 15000 and self-employed individuals must have a turnover of 15-40 lakhs.
  • You must stay in Pune for at least 1 year.
  • Your total work experience must exceed 2 years.

Being an online lending platform, Loan Sumo does not provide the money. Instead, we help you connect with legitimate and responsible lenders such as banks and NBFCs. Visit our website and apply now!