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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 2.50% One time fee
    40L Max
    1 - 5 Years
    Ad 100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    Zero Processing Fee
    25L Max
    1 - 5 Years
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    25.00% - 32.00% Fixed
    3.00% One time fee
    75K - 5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Bankbazaar Exclusive
    20L Max
    1 - 6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    1L - 5L
    Upto 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    25L Max
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    50K - 2L
    Upto 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    50K - 25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    30L Max
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    15L Max
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    50K - 7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
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    17.00% - 26.00% Fixed
    2.00% One time fee
    2L - 20L
    0.5 - 4 Years
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    Hyderabad Personal Loan Interest RatesUpdated on 11 Jul 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

    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The tenure for ICICI personal loan is for 3 years, I have taken the loan for some personal purposes. I got my loan statements on time but the interest rate of the loan is 12% which is bit high for me. I wish the bank can reduce it up to 10%. Otherwise everything is good about the loan.
      Was this review helpful? 19
      , hyderabad
      Reviewed on Mar 21, 2020
    • IDFC Bank
      IDFC Bank Personal Loan
      "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? 12
      , hyderabad
      Reviewed on Mar 20, 2020
    • Capital First Personal Loan
      "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? 3
      , hyderabad
      Reviewed on Mar 20, 2020
    • ICICI Bank Personal Loan
      "Best service "
      0.5 5.0/5 "Blown Away!"
      I taken a personal loan from ICICI on last December or January. The amount was sufficient of 1L with tenure period of 2 years. The rate of interest is much better compare to other bank of 11%. The processing fee was deducted of 1K. The pre closure is applicable after 6 months without any charge. EMI need to pay of 5K and I use to get remainder message on time.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Mar 19, 2020
    • HDFC Bank Personal Loan
      "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? 6
      , hyderabad
      Reviewed on Mar 17, 2020
    • HDFC Bank Personal Loan
      "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
      , hyderabad
      Reviewed on Mar 16, 2020
    • ICICI Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      ICICI Bank offered a personal loan and the loan amount was Rs.1.50L. Rate of interest was 10.99% and i am paying EMI 3969 with the period of 4 years. I applied this loan directly through bank and i received within 10 days and also they are charging processing fee.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 14, 2020
    • IndusInd Bank Personal Loan
      "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? 1
      , hyderabad
      Reviewed on Mar 14, 2020
    • HDFC Bank Personal Loan
      "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
      , hyderabad
      Reviewed on Mar 13, 2020
    • review Personal Loan
      "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? 1
      , hyderabad
      Reviewed on Mar 13, 2020
    • Tata capital Personal Loan
      "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? 1
      , hyderabad
      Reviewed on Mar 13, 2020
    • Kotak Personal Loan
      "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? 1
      , hyderabad
      Reviewed on Mar 13, 2020
    • IndusInd Bank Personal Loan
      "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? 1
      , hyderabad
      Reviewed on Mar 12, 2020
    • Tata capital Personal Loan
      "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? 1
      , hyderabad
      Reviewed on Mar 12, 2020
    • Tata capital Personal Loan
      "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
      , hyderabad
      Reviewed on Mar 11, 2020
    • Tata capital Personal Loan
      "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? 0
      , hyderabad
      Reviewed on Mar 11, 2020
    • IndusInd Bank Personal Loan
      "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? 0
      , hyderabad
      Reviewed on Mar 11, 2020
    • SBI Personal Loan
      "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? 16
      , hyderabad
      Reviewed on Mar 11, 2020
    • HDFC Bank Personal Loan
      "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
      , hyderabad
      Reviewed on Mar 11, 2020
    • IndusInd Bank Personal Loan
      "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? 0
      , hyderabad
      Reviewed on Mar 11, 2020
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