Personal Loan in Nagpur

Personal loans in Nagpur are increasingly popular for managing day-to-day financial needs, urgent expenses or planned personal spending. With growing employment, small businesses and young professionals in the city, access to fast and hassle-free financing is essential. From medical emergencies and travel costs to education fees and home repairs, a personal loan in Nagpur can provide the financial cushion you need. Banks, NBFCs, and digital lenders actively compete here, offering convenient processes and flexible repayment options.

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Best Personal Loan Offers in Nagpur - Feb 2026

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RBL Bank

RBL Bank Personal Loan in Nagpur starting at.

18%

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Federal Bank

Federal Bank Personal Loan in Nagpur starting at.

11.99% - 18.99%

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karnataka bank

karnataka bank Personal Loan in Nagpur starting at.

11.27% - 13.77%

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IDBI Bank

IDBI Bank Personal Loan in Nagpur starting at.

11% - 15.5%

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Kotak Bank

Kotak Bank Personal Loan in Nagpur starting at.

10.99%

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HDFC Bank

HDFC Bank Personal Loan in Nagpur starting at.

10.9% - 24%

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YES Bank

YES Bank Personal Loan in Nagpur starting at.

10.85% - 21%

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IndusInd Bank

IndusInd Bank Personal Loan in Nagpur starting at.

10.49%

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ICICI Bank

ICICI Bank Personal Loan in Nagpur starting at.

10.45% - 16.5%

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Punjab National Bank

Punjab National Bank Personal Loan in Nagpur starting at.

10.25% - 16.8%

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State Bank of India

State Bank of India Personal Loan in Nagpur starting at.

10.05% - 15.05%

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IDFC FIRST Bank

IDFC FIRST Bank Personal Loan in Nagpur starting at.

9.99%

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HSBC

HSBC Personal Loan in Nagpur starting at.

9.95% - 12%

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Axis Bank

Axis Bank Personal Loan in Nagpur starting at.

9.5% - 21.55%

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karur Vysya Bank

karur Vysya Bank Personal Loan in Nagpur starting at.

9.5% - 13.35%

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What are the Loan Amount Options for a Personal Loan in Nagpur?

Personal loans in Nagpur are available across multiple ranges:

Personal Loan EMI Calculator

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

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Why Personal Loans Work Well in Nagpur?

Personal loans are widely preferred in Nagpur because they deliver quick financial support without complicated procedures.

  • Fast access to funds for emergencies, education, weddings, travel, or home expenses
  • No restrictions on fund usage, making it a truly flexible option
  • Fully online applications and minimal paperwork for instant personal loans in Nagpur
  • Quick approval and disbursal, often within 24-48 hours
  • Unsecured borrowing, no collateral or property required
  • Flexible EMIs, calculated easily using a personal loan EMI calculator

For residents facing unexpected expenses, an urgent personal loan in Nagpur can be a lifesaver. Personal loan agents in Nagpur also assist in comparing multiple lenders and simplifying the application process.

What is the Interest Rate for a Personal Loan in Nagpur?

Personal loan interest rates in Nagpur vary depending on the borrower’s profile, including credit score, income stability, and existing liabilities. Rates typically start from 8.75% – 9.95% per annum but can be higher for riskier profiles. Along with interest, processing fees, late payment charges, and other terms affect the total repayment. Using a personal loan EMI calculator or a personal loan prepayment calculator helps borrowers plan repayment efficiently and avoid surprises.

What are the Eligibility Criteria for Personal Loans in Nagpur?

Criteria Details
Age 21 – 60 years
Income Regular monthly income sufficient to cover EMIs
Employment Salaried, self-employed professionals, or business owners with stable income
Credit Score Around 700 or above improves approval likelihood
Residence Valid address proof in Nagpur

How to Apply for a Personal Loan in Nagpur?

You can apply through platforms like Urban Money for a smooth process. Keep the personal loan documents required ready for a faster process.

  • Visit the official Urban Money website.
  • Select the “Personal Loan” option and choose Nagpur as your city.
  • Compare offers from multiple banks and financial institutions.
  • Click “Apply Now” on your preferred lender.
  • Fill in basic details such as your name, email ID, and mobile number.
  • Complete the verification process and receive personalised assistance from loan experts.

How to Find the Best Personal Loan in Nagpur?

The best personal loan in Nagpur balances interest rates, EMI comfort, lender reliability and repayment flexibility. Comparing options carefully using tools like a personal loan EMI calculator or consulting a personal loan agent in Nagpur helps select the best deal.

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FAQs

How long does it take for a personal loan to be approved in Nagpur?

A personal loan can be approved within 4-5 working days for offline applicants. Digital and pre-approved personal loan applicants can get loan approvals within a few minutes of application.

Can I get a personal loan with a bad credit score in Nagpur?

Personal loans are not easily approved for candidates with poor credit scores. Banks do not trust such candidates to be able to repay the loan in time and, thus, try to avoid risking their funds. Even if banks extend loans to such candidates, stringent T&Cs and higher charges are levied.

Can I prepay or foreclose a personal loan in Nagpur?

Yes, personal loans in Nagpur can be prepaid or foreclosed in part or full after paying nominal prepayment/foreclosure charges.

What happens if I default on my personal loan in Nagpur?

Personal loan defaulters invite heavy penalties from the bank. The banks can take legal action against a defaulter under the Negotiable Instruments Act of 1881. Therefore, if an applicant faces difficulties with loan settlement, they must immediately contact the bank and discuss possible options.

Can I apply for a personal loan from multiple lenders in Nagpur?

Yes, there are no constraints on applying to multiple lenders. However, it is advised that loan seekers apply to fewer lenders. This raises their credibility and increases their chance of getting a loan.

Can freelancers and self-employed individuals apply for a personal loan in Nagpur?

Yes, they can easily apply for a personal loan in Nagpur by establishing their credibility and financial stability.

 

Can I transfer my existing personal loan to another lender in Nagpur?

Yes, transferring a personal loan from one lender to another is called Personal Loan Balance Transfer (PLBT). After checking the interest rates and net savings the new lender offers, one can apply for a loan transfer by obtaining a NOC from the existing bank.

What is the process for closing a personal loan in Nagpur?

Personal loan accounts are automatically closed by banks after the complete settlement of the loan. A candidate can seek a No Dues Certificate from the bank to acknowledge the loan account’s closure.

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The website may provide information about various loan products, insurance products, credit scores & links to other websites or resources over which urbanmoney.com does not have control as such information & links are received from the Banks, NBFCs, Insurance companies & credit rating agencies. Users of this website acknowledge that urbanmoney.com is providing these information & links only as a convenience, and further agree that urbanmoney.com is not responsible for the veracity of such information. Please note that users are advised to independently verify the information & do other requisite due diligence before making any decision and that urbanmoney.com nor its employees, partners, and associated staff are not accountable for any loss, harm, or damage due to usage of information from this website.  And further that user’s use of links to such external websites are subject to the terms of use and privacy policies located on those sites.