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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 17 Hyderabad Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.75% - 21.45% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated 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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    10.99% - 15.49% 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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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS 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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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
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    Hyderabad Personal Loan Interest RatesUpdated on 21 Oct 2019

    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 2019

    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.

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

        

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    Hyderabad Personal Loan Reviews

    • Fullerton Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Fullerton personal loan through Online .I have not availed this loan since had personal issues.There was no issues with the rate of interest and the processing fee ,The agent gave all the required details about the loan process very clearly .I am really satisfied with the service .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 17, 2019
    • Citibank
      Citibank Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      Its fine with Citi bank, they have delivered the loan amount on time which was upto my expectation. The interest rate is nominal and they have charged me 1% processing fee. I took the personal loan for 3years and there is an option for foreclosure after one year.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 17, 2019
    • Tata capital Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan from TATA CAPITAL LIMITED. There was a little delay from Tata Capital to disburse the loan. They provided sufficient loan though. Rate of interest is very high in comparison to other banks in the market. Their customer service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 16, 2019
    • Fullerton Personal Loan
      "Unhappy with the interest rate"
      0.5 2.0/5 "Expected more"
      Fullerton is not giving an interest rate as per my expectations. I need one lakh rupees with the nominal interest rate like 11% but they are giving around 25%, hence have not taken a loan. Their customer service is good. They should reduce the rate of interest rate.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 16, 2019
    • HDFC Bank Personal Loan
      "Good Loan Service"
      0.5 3.0/5 "Satisfactory"
      Only HDFC bank has provided me a personal loan when i was trying the loan with all other banks. They have provided me a interest rate of 11% for the loan amount of Rs. 2.5 lakhs. They have sanctioned the loan in 15 days. I have chosen the tenure period of 3 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 15, 2019
    • Kotak Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with KOTAK MAHINDRA BANK. They disbursed the loan on time and I had received sufficient loan amount. Their rate of interest is nominal, I am ok with it. I had submitted my documents to their executive. Verification was done on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 14, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I had applied personal loan from HDFC Bank online. I received the loan on time and they disbursed sufficient loan amount. Rate of interest is ok but there processing fee is very high, I tried to negotiate but nothing happened. I submitted documents online.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 14, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 2.0/5 "Expected more"
      I have applied for HDFC Bank personal loan through Online .The rate of interest was very high hence not availed this loan ,The rate of interest was very high hence dropped the plan,The agent gave little information about the loan process ,There was no callback and followup from bank end .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 13, 2019
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since the rate of interest was high and there was no proper callback from bank end .I have got all the details about the loan process very clearly .I have not submitted any of my documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 13, 2019
    • HDFC Bank Personal Loan
      "Best Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have not availed this loan since dont have salary slip .I was not having issues with rate of interest and the processing fee .There was proper callback and follow up from bank end .I am really satisfied with the service .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 13, 2019
    • HDFC Bank Personal Loan
      "Very Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      We are getting loan at the right time. They asked me a documents of bank statement of 6 months but i don't have time to go to bank and get the details. Already i have a car loan with HDFC thats the reason i opted the loan with them. They have offered me a interest rate of 8%. I had applied the loan amount of Rs. 5 lakhs. There is no processing fee at all.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 13, 2019
    • Citibank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Citi Bank personal loan through Online .I have not taken this loan since the rate of interest was very high .I have not submitted any of my documents .There was proper callback and follow up from bank end as well .The rate of interest ans the premium is not a fixed one that was the difficulty.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 12, 2019
    • IndusInd Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Indusind Bank personal loan through Online .I have not faced any difficulties so far .The rate of interest and the processing fee was nominal ,I have got the loan amount on time ,The agent gave all the information about the loan process ,While submitting the documents there was no difficulties faced .I am really satisfied with the service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 12, 2019
    • HDFC Bank Personal Loan
      "Need to stand on their promise "
      0.5 5.0/5 "Blown Away!"
      I have received a call from HDFC BANK after a week for further verification then 4 days took to sanctioned a loan, the process was not done on smooth banker has not came to collect the documents. They offered for 1 lakh 75k at an initial but later sanctioned for 1lalkh 65k, for processing fee and insurance they had detected for 10 thousands seems. For tenure offered for 5 years, but from banker given for 4 years only , an interest was okay of 13.75%.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 12, 2019
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for HDFC Bank personal loan through Online .I have got the loan amount on delay basis it took 1 week of time .I have got a clear information about the loan process through the agent.The rate of interest and the processing fee was nominal .I have not faced any drawbacks on submitting the documents.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 12, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with HOME CREDIT INDIA FINANCE PRIVATE LTD. I received the loan on time but the amount is not sufficient. I applied for two lakh but they approved only 50 thousand. Their rate of interest is also very high. I am not sure about processing fee.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 12, 2019
    • Shubh Loans Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had applied personal loan from SHUBH LOANS online. I received the loan amount on time. I had applied for 2 lakhs but they disbursed only 1.4 lakhs. Their rate of interest is nominal. I submitted my documents online and verification was hassle free.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2019
    • Shubh Loans Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have got Shubh loan personal loan through Online .I have taken the loan on delay basis and not got the reason as well .The rate of interest was moderate .Each and every process of loan was clearly explained by the agent .I have not faced any difficulties while submitting the required documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2019
    • IndusInd Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Indusind Bank Ltd through online channel for my home renovation. The loan process was faster and they have offered me zero processing fee. The interest rate is 13% and its okay. The loan duration is 2years. The documents are submitted to the executive.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2019
    • Kotak Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The rate of interest is also good with Kotak Mahindra Bank and I think, for 2L they took 4K as a processing fee. I have uploaded the documents via online and also some given to the bank. The loan duration is 5years and I can do foreclose the loan after 1year.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 11, 2019
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