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  • Hyderabad Personal Loan

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  • Hyderabad is the capital of Telangana and is known as the cultural hub of south-east India. It has a variety of banks that offer personal loans at competitive terms and conditions. Home to major banks such as ICICI Bank, Citibank, HDFC Bank, etc. finding a personal loan in Hyderabad is as easy as it gets. Interest rates start from just 10.99% and the tenures extend up to 5 years, making it easy for you.
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    We found 18 Hyderabad Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
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    11.25% - 14.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
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    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
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    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Accelerated Approval
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    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
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    18% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    17.00% - 26.00% Fixed
    2% + Taxes
    20L Max
    0.5 - 4 Years
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    Hyderabad Personal Loan Interest RatesUpdated on 25 Feb 2020

    Hyderabad Personal Loan Details
    Interest Rate (Monthly reducing balance) 10.99% to 24% p.a.
    Processing Fees Up to 2.5% of the loan amount
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% to 5%
    Guarantor Requirement No guarantor required

    Hyderabad, a vibrant and lively city, is the capital of the state of Telangana. It is also the de jure capital of Andhra Pradesh. It is a historic place with several palaces and monuments. It is also a leading centre in the field of information technology. The population of this city is around 6.7 million. In the context of GDP per capita income, Hyderabad is the city that earns the 4th highest income.

    If you are interested in obtaining some additional money for any purpose, you can apply for a personal loan and then repay it conveniently through equated monthly installments (EMIs). There are many lenders in the city of Hyderabad that offer personal loans at economical interest rates. You may apply online or offline by visiting a branch.

    While applying for a personal loan online, you can compare different rates of interest and processing fees without having to go different bank branches. You also do not have to wait in long lines while awaiting your turn.

    Documentation needed to apply for an Hyderabad Personal Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Personal Loan Interest rates in Hyderabad 2020

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    Andhra Bank MCLR (for 1 year) + 2.85% to MCLR (for 1 year) + 4.50% Information not provided Up to Rs.2 lakh Up to 60 months
    Dena Bank 13% to 14% p.a. 1% of loan amount Up to 9 times of net monthly income Up to 36 months
    ICICI Bank 10.99% p.a. to 22% p.a. Up to 2.25% of the loan amountalong with applicable GST Up to Rs.20 lakh 1 to 5 Years
    CitiBank 10.99% - 15.99% (Fixed) 1% to 2.5% Rs.30 lakh (Max) 1-5 Years
    Kotak Mahindra Bank 11.49% - 20.15% (Fixed) Up to 2% Rs.15 lakh (Max) 1-5 years
    Fullerton 17.25% - 37% (Fixed) 1.5% to 6.0% (One time fee) Rs.15 Lakh (Max) 1-4 Years
    Bank of Baroda 11.35% - 14.35% (Fixed) Rs.1,000 to Rs.10,000 (One time fee) Rs.20,000 - Rs.2 lakh 4 Years (Max)
    State Bank of India 11.85% to 14.70% p.a. 1% Rs.25,000 to Rs.15 lakh Up to 84 months
    Aditya Birla 11.5% - 13.25% (Fixed) Nil Rs.30 lakh (Max) 1-5 Years
    Allahabad Bank 13.10% (Fixed) 1.22% (One time fee) Rs.50,000- Rs.7.5 lakh 1-5 Years
    Yes Bank 14% p.a. Information not provided. Rs.2 lakh to Rs.20 lakh 1 to 5 Years

    Personal Loan in Hyderabad

    Personal loans in Hyderabad are offered by some of the top banks and NBFCs in the country. All banks offer secured and unsecured personal loans. In the case of unsecured loans, banks offers loans ranging between Rs.50,000 to Rs.40 lakh without any collateral. Personal loans are offered to customers based on their annual income, the company their employed, etc. Some of the top banks offering personal loans are ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, etc. To compare loan offers between banks, customers can facilitate the use of financial portals such as BankBazaar.

    Personal Loans offered by Various Lenders in Hyderabad

    Some of the leading lenders that offer personal loans in the city of Hyderabad include:

    • Standard Chartered Bank
    • Tata Capital
    • Kotak Mahindra Bank
    • Fullerton India
    • Oriental Bank of Commerce
    • Citibank
    • Andhra Bank
    • IDBI Bank
    • Indian Overseas Bank
    • State Bank of India (SBI)
    • Aditya Birla
    • ICICI Bank
    • Axis Bank
    • Bank of Maharashtra
    • ING Vysya Bank
    • HDFC Bank
    • Syndicate Bank
    • Punjab National Bank
    • Corporation Bank
    • Karur Vysya Bank

    How do I get a Personal Loan with the lowest interest rate in Hyderabad?

    When availing a personal loan, most people go for the bank holding their salary account as the paperwork becomes a lot more relaxed and the process faster. While for some this might work perfectly, comparing the interest rate on loans offered by several banks and NBFCs is the best option. Other than that, there are a few other factors that will positively affect your loan interest rate. If you’re availing a loan, listed below are a few areas you need to look into or take care of if you wish to get the lowest interest rate on your loan:

    Credit score - Ensuring that your credit score is optimum is imperative when availing a personal loan. Having a high credit score will result in you getting a loan at a lower interest rate and vice versa. A credit score above 750 is satisfactory when availing a personal loan.

    Make a down payment - Putting down a sizeable down payment is sure to get you a better interest rate on your loan. Anything upward of 20% of your loan amount will positively affect the interest rate that is offered to you.

    Debt-to-income ratio - Making sure that you have a stable debt-to-ratio will firstly decide whether your loan will be approved and secondly will affect the interest rate on your loan. Debt-to-ratio is the amount one earns on a monthly basis against his/her credit bills, loans dues, etc.

    Look around for the best loan interest rates on offer - Facilitating the use of financial portals such as BankBazaar will help you when shopping around for loans from various banks and NBFCs offering the best interest rates. The BankBazaar website compares the loan interest rates of all its partner banks and makes it easier for customers to make a decision.

    Tenure - Choosing your tenure directly reflects on the interest rate added to the loan amount. Choosing a shorter tenure will result in you having a much less interest rate - though the EMIs will be considerably high. The interest rate increases with the length of the payback period.

    Employee stability and the company you work for - The number of years of experience and the company you work for plays a vital role whether firstly your loan will be approved and secondly the interest rate on the loan. Working for an established company only increases the bank's trust of you repaying the loan.

    Always negotiate - While most people readily agree to the interest rate on the loan offered by the bank, negotiating on the interest rate is a necessity. If you’re a customer availing a loan from the bank holding your salary, you have a better chance of making a negotiation.

    Salary requirements to avail Personal Loans in Hyderabad

    When availing a personal loan in Hyderabad, the salary requirements vary from bank to bank. When looking for the bank offering the best interest rates, make sure to look out for the minimum salary requirement as well.

    • For salaried individuals - Banks have a minimum salary requirement between Rs.7,500 and Rs.50,000 for salaried individuals.
    • Self-employed individuals - Those having their own business should provide proof of income and most banks have an income requirement of Rs.1 lakh to Rs.2 lakh (profit) annually.

    Hyderabad Personal Loan FAQs

    1. What is the tenure range of personal loans?

      Most banks offer loans for a tenure of 1 to 5 years. The tenure decides the interest rate, the EMIs to be repaid to the bank monthly, etc.

    2. What documents are required when applying for a personal loan?

      You will need to submit your regular KYC documents (address and identity proof) - Passport, Aadhaar card, Voter’s ID, driving licence, any government employee card, etc. Apart from that, you will have to submit your payslips, last two years IT Returns, last six months bank statements, etc.

    3. Are there any additional charges for personal loans?

      You will have to pay the processing fee upfront when availing a loan. Apart from this there are no additional charges unless a prepayment is made.

    4. Will the loan be disbursed at once or in stages?

      Once your loan application has been approved by the bank or NBFC, the loan will be disbursed all at once. There is no option of splitting the disbursal.

    5. Can I prepay a loan after a couple of months?

      Most prepayment requirement for most banks is six months from the point of disbursal. Pre closing the loan in two months would not be a possibility. You would have to pay prepayment charges on the outstanding balance.

        

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    Hyderabad Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan directly through HDFC Bank .The rate of interest and the processing fee was nominal .I have got best service from this bank.The loan was sanctioned within 3 days of time, I have submitted the required documents and if pay the premium on delay basis then need to pay additional charges for only one month alone.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 23, 2020
    • Shubh Loans
      Shubh Loans Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      I have availed shubh personal loan through online .This loan was sanctioned on delay basis due to public holidays. It took 5 to 6 days and the rate of interest and the processing fee was very high since got requirement taken this loan at that time. The service was really satisfied.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 22, 2020
    • HDFC Bank Personal Loan
      "Good Loan Service"
      0.5 3.0/5 "Satisfactory"
      I got an offer from HDFC regarding my personal loan. I have applied the loan amount of Rs. 4 lakhs and I have no idea about the interest rates. I could not produce the documents since i was in out of station for a long time hence i could not replied them in the mail. They did a follow up for a long time.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 20, 2020
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied HDFC Bank personal loan through online. In my company they are not giving payslips on time so i'm unable to provide the paper due to this reason my application was closed. I given only Aadhar card through online, customer service was good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Feb 20, 2020
    • review Personal Loan
      "Good service "
      0.5 4.0/5 "Great!"
      I have applied a personal loan directly from SHRIRAM FINANCE. The loan amount was Rs. 50k and the rate of interest was medium 18%. I am paying monthly EMI Rs. 3085 this is a second month, they called me directly regarding the loan offer and given all my documents then it was approved within 1 week. Customer service and response was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2020
    • Axis Bank Personal Loan
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from AXIS Bank and i have completed one year. The rate of interest was very high 14.99% and i got less interest with other bank 11.99%. So i did balance transfer from this bank. The loan amount was Rs. 1.25L with the tenure of 4 years and i am paying EMI 8770. Pre closure charge is there but i am not sure and their service was good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 19, 2020
    • PaySense Personal Loan
      "Interest rate was bit higher "
      0.5 5.0/5 "Blown Away!"
      I have applied a personal loan in Paysense from online channel. The loan amount was Rs. 90,000 and the rate of interest was very high 26%, I am paying EMI of Rs.5055 with the tenure of 3 years and i received this loan within 15 days. Documentation process was excellent service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2020
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have applied HDFC Bank personal loan through online. I was waiting with my documents to process further but no proper response. And no one came to collect my documents, so i tried with other bank. Customer service and responsiveness was okay.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 19, 2020
    • HDFC Bank Personal Loan
      "Customer support is very slow "
      0.5 2.5/5 "Just OK"
      I have applied HDFC Bank personal loan through online. Actually i am having one personal loan which is active and also the rate of interest was very high compare to other bank, so i closed this application. I received a call from the executive regarding the document collection but it doesn't happen hence have approached other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2020
    • IndusInd Bank Personal Loan
      "Better Loan Service"
      0.5 4.0/5 "Great!"
      Its because of the known interest rates when i differentiate with different bank, i have applied the personal loan from Indusind bank with the amount of Rs. 12 lakhs. I have visited the branch directly and the response was good. I have completed the documentation process also. Chosen the tenure period of 5 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 18, 2020
    • HDFC Bank Personal Loan
      "Need to improve the service"
      0.5 1.0/5 "Really Bad"
      HDFC people are very ir-responsible because they were not ready to provide any proper response regarding my personal loan hence I'm totally upset with them. After collecting all the documents 4 to 5 times, they said will give a call back later there is no follow up at all from them. They were not interested to share the application status to the customer.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 18, 2020
    • Tata capital Personal Loan
      "Need to improve the service"
      0.5 1.0/5 "Really Bad"
      I had applied the loan from TATA Capital but without any prior intimation, they came to my home for verification. I have given all my document including cheque leaf but the loan got rejected and they were not ready to provide the papers to me even though i have requested the same.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 18, 2020
    • Tata capital Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home Credit India Finance Private Ltd personal loan through online .This loan was was availed only for my personal use .The rate of interest and the processing fee was nominal .I am paying the premium on EMI basis and submitted the required documents through the agent.The overall service was pretty good according to my experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 17, 2020
    • Tata capital Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Tata Capital Ltd personal loan through online .I have not availed this loan since the rate of interest was very high .I have not submitted any of my documents and the agent gave a clear picture about the loan process.If the rate of interest is reduced to 10 % to 11 % it will be good this was my suggestion.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 17, 2020
    • Citibank Personal Loan
      "Interest rate was high"
      0.5 4.0/5 "Great!"
      I have applied CITI Bank personal loan through online. The rate of interest was high when compared to other bank, they have not given any calls, messages or mail. This application got closed , the customer service and responsiveness are good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 17, 2020
    • HDFC Bank Personal Loan
      "Need to update correct reason for loan status "
      0.5 1.0/5 "Really Bad"
      HDFC has provided a good loan amount offer through online. So I have applied on 2 months back. I got a call on delay from bank took minimum 10 days, the loan amount which was offered sufficient with tenure 2 years. The rate of interest was 14%. Bank has closed the loan process but not shared the reason. I would request they need to share the reason to customer for closed status.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 17, 2020
    • IndusInd Bank Personal Loan
      "Need to improve in service and interest rate should be less"
      0.5 2.0/5 "Expected more"
      I have applied a personal loam from INDUSIND Bank, they asked so many things for the documentation process. Then I have given EB bill, address proof, id proof after that i didn't get any calls that my loan has been closed. Even, I found rate of interest was high 14-15%.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 17, 2020
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have applied HDFC Bank personal loan through online and it got closed because I don't have proper bank statement and payslip to complete the process. Hence have not given any documents to the bank . Customer service and responsive part was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 17, 2020
    • IndusInd Bank Personal Loan
      "Okay loan service"
      0.5 3.0/5 "Satisfactory"
      My colleague told me that i will get a pre-approved loan since i have a salary account with Indusind Bank hence they treated me as a priority customer. Interest rate is fine for me. The way processed loan was totally different. I have not filled the application on my own even the loan disbursal they were asking my appointment letter.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2020
    • Tata capital Personal Loan
      "Need to improve the services"
      0.5 1.0/5 "Really Bad"
      TATA capital, they have provided me a pre-approved personal loan which have processed but later i have given all the documents they are saying that my existing repayment amount is heavy hence they are not ready to provide the same.They have offered me a interest rate of 16%.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2020
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