What is the tenure range of personal loans in Hyderabad?

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.

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.

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.

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.

Can I prepay a loan after a couple of months in Hyderabad?

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.

Hyderabad Personal Loan

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 Citibank, HDFC Bank, etc. finding a personal loan in Hyderabad is as easy as it gets. Interest rates start from just 9.60% and the tenures extend up to 6 years, making it easy for you.

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Hyderabad Personal Loan Interest Rates_{Updated on 23 Mar 2023}

Hyderabad Personal Loan Details

Interest Rate (Monthly reducing balance)	9.60% to 36% p.a.
Processing Fees	Up to 6% of the loan amount
Loan Tenure	1 year to 6 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 2023

Bank	Interest Rate Range	Processing Fee Range	Loan Amount	Tenure
CitiBank	9.99% - 16.49% (Fixed)	1% to 2.5%	Rs.30 lakh (Max)	1-5 Years
Kotak Mahindra Bank	10.25% onwards (Fixed)	Up to 2.5%	Rs.20 lakh (Max) /td>	1-5 years
Fullerton	11.99% - 36%	Between 0%-6% of the loan amount	Rs.25 Lakh (Max)	1-5Years
Bank of Baroda	10.50% - 12.50%	2% of the loan amount + GST subject to Rs.1,000 to Rs.10,000 (One time fee)	Rs.50,000 - Rs.15 lakh	1-5 Years (Max)
State Bank of India	9.60% - 15.65%	Up to 1.50% of the loan amount (One time fee)	Up to Rs.20 lakh	1-6 Years
Aditya Birla	14% - 26% (Fixed)	Up to 2% of the loan amount	Rs.15 lakh (Max)	1-3 Years
Yes Bank	10.99% onwards (Fixed)	Up to 2.5% (One time fee)	Rs.40 lakh (Max)	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.

List of banks offers Personal Loans 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
Citibank
IDBI Bank
Indian Overseas Bank
State Bank of India (SBI)
Aditya Birla
Axis Bank
Bank of Maharashtra
ING Vysya Bank
HDFC Bank
Punjab National 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.

FAQs on Hyderabad Personal Loan

What is the tenure range of personal loans in Hyderabad?
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.
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.
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.
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.
Can I prepay a loan after a couple of months in Hyderabad?
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.

A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

Important Personal Loan Pages

Personal Loans by Bank

Personal Loan Eligibility by Banks

Personal Loan Interest Rates by Bank

Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Personal Loan Status Track by Bank

Personal Loan Articles

Other Loans

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Hyderabad Personal Loan Reviews

Write a Review

"Instant loan approval"

0.5 5.0/5 "Blown Away!"

IDFC Bank offered Rs.60,000 of a personal loan and the rate of interest was actually they took 12-13% normal interest and pre closure charges is 3%. I opted for the tenure of two years. I am paying Rs. 4,000 monthly EMI and instantly it got approved.

Was this review helpful? 97

M , hyderabad
Reviewed on Mar 20, 2020
"Good Service"

0.5 4.0/5 "Great!"

The rate of interest and processing fee was very high on Capital First since requirement was there taken this loan . I have got callback from capital first and there was proper response as well. This loan is still active and the loan got sanctioned on time .The loan amount was 2.5lakhs for the tenure of 3 years .

Was this review helpful? 58

DRISNAPU , hyderabad
Reviewed on Mar 20, 2020
"Need to decrease processing fee "

0.5 4.0/5 "Great!"

HDFC has deducted processing fee of almost 7K which is high for the amount of 2L. I received a call on time from bank for the verification process and it was done smoothly. They have sanctioned the loan by 10 days after deduction have received 1.93L for 4 years tenure. The rate of interest is 10%. I use to pay EMI of 5,200 rupees. They didn't inform pre closure option.

Was this review helpful? 46

PRADIPTA , hyderabad
Reviewed on Mar 17, 2020
"Okay"

0.5 2.0/5 "Expected more"

From HDFC Bank, i have applied a personal loan and this application got closed by bank end. Actually my credit score was not adequate to process the loan and I have given all my documents to the executive. HDFC bank has a good customer service.

Was this review helpful? 1

H D , hyderabad
Reviewed on Mar 16, 2020
"Interest rate was high"

0.5 3.5/5 "Pretty good"

The rate of interest was high in INDUSIND Bank, its 12.5% something for the loan amount of Rs. 2L. I opted for the tenure of 4 years and i am paying EMI of Rs.5349, documentation was simple. There is no fore closure charges but this bank forced me to take an insurance cost about Rs. 4000.

Was this review helpful? 6

RAMAN , hyderabad
Reviewed on Mar 14, 2020
"Easy to apply "

0.5 3.5/5 "Pretty good"

The loan which i was taken from HDFC Bank and the loan amount was Rs. 2,70,000. The rate of interest was 14% high and emi i am paying Rs. 6,900 with the tenure of 36 months. Fore closure charges are there but they are charging 5% that to after 1 year.

Was this review helpful? 1

S B , hyderabad
Reviewed on Mar 13, 2020
"Hassle free loan service"

0.5 5.0/5 "Blown Away!"

For my abroad travel expenses i have bought a Bajaj Finserv personal loan because it was a pre-approved and i have already cleared it. It was 18% interest rate offered to me. In this loan, i can do a pre-closure at any time but there was a 4% charges. They have sanctioned the loan on the same day when i apply.

Was this review helpful? 2

B BUSSA , hyderabad
Reviewed on Mar 13, 2020
"Hassle free loan service"

0.5 4.0/5 "Great!"

It was for the personal use i have taken a loan from TATA Capital because they have provided me a pre-approved loan. They have offered me a interest rate of 19% which is fine for me. I have taken the loan amount of Rs. 1.40 lakhs. Processing fee was minimal. After 6 months, I can do pre-closure but there will be additional charges.

Was this review helpful? 7

BALA , hyderabad
Reviewed on Mar 13, 2020
"Satisfactory"

0.5 4.0/5 "Great!"

My kotak mahindra personal loan was taken through online.The rate of interest and the processing fee was nominal and this loan was taken for personal use .The complete process of this personal loan was clearly shared by the agent .This loan was sanctioned on time and everything was good to me so far .

Was this review helpful? 26

SATAVAHANA , hyderabad
Reviewed on Mar 13, 2020
"Good Service"

0.5 5.0/5 "Blown Away!"

I have taken personal loan through Indusind bank through online .The rate of interest and the processing fee was fine ,this loan was availed for my personal use only.everything was good to me so far and submitted the documents through the agent .I am really satisfied with the service so far .

Was this review helpful? 2

MOHAMMED , hyderabad
Reviewed on Mar 12, 2020
"Need to decrease interest rate"

0.5 3.0/5 "Satisfactory"

I have applied a personal loan from TATAT CAPITAL through online. I got a call on time, the process was smooth but bit delayed to sanctioned the loan by after 2-3 weeks. The amount was sufficient, I was expected 5L amount but given only 4L fine for me. The tenure period of 4 years. The rate of interest is 19% which is high. EMI need to pay of around 12K.

Was this review helpful? 8

DAMODAR , hyderabad
Reviewed on Mar 12, 2020
"Satisfactory "

0.5 3.0/5 "Satisfactory"

I have availed a personal loan from TATA Capital Ltd through online hence not faced any difficulties. This loan was sanctioned on time it was taken for personal use .The rate of interest was very high since there was requirement i have taken this loan .I am paying the the premium on time and if pay on delay basis then charges will be applicable .

Was this review helpful? 0

KARAN , hyderabad
Reviewed on Mar 11, 2020
"Average Service"

0.5 2.0/5 "Expected more"

I have taken personal loan through Home credit India Finance private Ltd.The rate of interest and the processing fee was too high .This loan was sanctioned on proper time frame .The agent not shared any details about the rate of interest this was the issue.The service was very average according to my concern.

Was this review helpful? 7

VENKATA , hyderabad
Reviewed on Mar 11, 2020
"Overall loan service is good"

0.5 4.0/5 "Great!"

For purchasing a house, i have taken a personal loan with Indusind bank. They have offered me a interest rate of 12.5%. I have applied the loan amount of Rs. 8 lakhs but finally they have given only Rs. 7.3 lakhs and they charged me a zero processing fee but they charged for a insurance value of Rs. 6300. They have taken 3 working days to sanctioned this loan.

Was this review helpful? 2

MARIYA DASU , hyderabad
Reviewed on Mar 11, 2020
"Very transparent and reliable services"

0.5 4.5/5 "Excellent!"

From YONO app i have applied the personal loan with State Bank of India. They have sanctioned the loan in 24 hours and They have not collected any documents from my end. They just got the agreement from email and they have not charged me any processing fee and the interest rate is only 9%. I have selected the tenure period of 3 years. There is a pre-closure facility without having any additional charges.

Was this review helpful? 164

VIJAYA KUMAR , hyderabad
Reviewed on Mar 11, 2020
"Quick service and process"

0.5 5.0/5 "Blown Away!"

Before approving the loan, they said they will decrease the interest rate from HDFC but they haven't done the same hence the rate of interest is high. I had applied the loan amount of Rs. 8 lakhs but they have provided only Rs. 4.5 lakhs when i enquired about the same, they said based on my eligibility they can provide only this much amount. They have provided me a interest rate of 10.5% which is high compared to other nationalized banks. They are charging some hidden charges like processing fee and the process is not transparent.

Was this review helpful? 0

VIJAYA KUMAR , hyderabad
Reviewed on Mar 11, 2020
"Need to decrease tenure period "

0.5 5.0/5 "Blown Away!"

Basically I opted for a personal loan from INDUSIND because of low charge and I am qualified for the good amount of 6L but they have sanctioned the amount of 2L only with tenure period of 5 years only tenure was very high. I raised for either 2 or3 years. Since I am taking first time loan so I have to agree with this tenure offer. The rate of interest is nominal. EMI need to pay around 4,300 rupees. Pre closure is applicable with charge.

Was this review helpful? 2

SID , hyderabad
Reviewed on Mar 11, 2020
"Recommendable loan for the people who wants to pre-closure"

0.5 3.0/5 "Satisfactory"

When i was taking the personal loan with Axis bank, the interest rate is high but the customer service is good. For part payment facility and preclosure is good because they are not taking any additional charges. I have completed the loan by February. Axis bank agent approached me for a personal loan and i availed with them.

Was this review helpful? 53

CHINAMILLI , hyderabad
Reviewed on Mar 10, 2020
"Good Loan Service"

0.5 5.0/5 "Blown Away!"

Interest rate is less when i compared to other banks so i opted the personal loan with CITI bank. I got the good interest rate of 10.75% and the processing fee is nearly Rs. 7500. I have been paying the EMI amount of Rs. 21,895 for the loan amount of 10 lakhs. They do have pre-closure facility but the charges of 4% is applicable. They have sanctioned the loan in 3 days.

Was this review helpful? 4

KRANTI , hyderabad
Reviewed on Mar 10, 2020
"Good Loan Service"

0.5 4.0/5 "Great!"

Based on my credit score, they have contacted me from Kotak Mahindra bank and they have sanctioned the loan to me. My documentation process is okay. Interest rate is on higher side when i check with other banks. People are not providing the part payment and pre-closure facility. Processing fee was nominal. Still the loan is going on with the EMI amount of Rs. 13066 for the loan amount of Rs. 6 lakhs.

Was this review helpful? 12

PONNAPURAM , hyderabad
Reviewed on Mar 10, 2020

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