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  • Vadodara Personal Loan

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  • Baroda as it was formerly known, Vadodara is a major city in Gujarat that has banks and financial institutions offering personal loans at competitive interest rates. If you need immediate finances for the wedding of your child or the renovation of your home, personal loans in Gujarat are easy to avail thanks to simple application processes and minimal documentation. Interest rates start from just 10.99% and the repayment tenures can extend up to 5 years!
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    We found 18 Vadodara 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
    Up to Rs.40L
    1 - 5 Years
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    11.00% - 16.75% Fixed
    Zero Processing Fee
    Up to Rs.25L
    1 - 5 Years
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    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
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    17.00% - 26.00% Fixed
    2.00% One time fee
    Rs.2L - Rs.20L
    0.5 - 4 Years
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    Vadodara or Baroda is an important city in Gujarat, the Indian state. It is situated towards the south-east corner of Ahmedabad - another significant metropolis in the state.It is the 20th largest city in India and the 3rd biggest city in Gujarat. Due to its rich cultural heritage, Vadodara is also popularly known as the “Sanskrit Nagar” or the “Kala Nagari”.Vadodara’s economy is mostly focused on compounds & fertilizers, medicines, fisheries, fiber weaves, dairy and machine gears. Some significant crops harvested in Vadodara are rice, wheat, grams, yellow peas, yarn and sugarcane. More than 120 public schools and 100 odd private schools exist in Vadodara and it also houses many important educational institutes of the nation.

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.

    Documentation needed to apply for an Vadodara 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

    Vadodara Personal Loan Interest RatesUpdated on 22 Oct 2020

    Vadodara Personal Loan Details
    Interest Rate (Monthly reducing balance) 13.49% - 34%
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loan in Vadodara

    Vadodara is formerly known as the Cultural Capital of Gujarat follows Ahmedabad and Surat as Gujarat's third largest city located in Western India. The city is located 139 kilometres from Gandhinagar, which is the state capital. The population of Vadodara stood at more than 22 lakh people as of the year 2011. A large number of the population that resides in Vadodara form a part of the salaried class of individuals, and as a result of this, they tend to take opt to apply for personal loans to help meet their financial requirements which otherwise be difficult to afford using their savings and salaries. The most common reasons why people of Vadodara avail personal loans from banks include purchase of a vehicle, home renovation, to finance a wedding and other ceremonies, travel, etc. There is a plethora of reasons why people would want to avail a personal loan and due to an individual's nature for possessing credit, personal loans have grown to become a popular financial product that is available in the city.

    Personal Loans Offered by various Banks in Vadodara

    There is a large number of public and private banking sectors and non-banking institutions that offer personal loans at attractive interest rates to individuals who are seeking a helping hand with their finances. Some of the leading banks in Vadodara include Tata Capital, Citibank, Aditya Birla, Canara Bank, Standard Chartered, IDBI Bank, IndusInd Fullerton, Capital First, Kotak Mahindra, Dena Bank, HDFC Bank, Karur Vysya, Indian Overseas Bank, Oriental Bank, IDBI Bank, , South Indian Bank, UCO Bank, Vijaya Bank, ICICI Bank, Central Bank, Allahabad Bank, Bank of India, Indian Bank, Vijaya Bank, Union Bank, Yes Bank, etc. You can reach out to any of the banking institutions mentioned above if you are seeking a personal loan in Vadodara. These are reputed institutions that will offer the most attractive and best terms and conditions.

    How to Get a Personal Loan with the Lowest Interest Rate in Vadodara

    There are a few important factors that we need to consider when applying for a personal loan so that you are eligible for competitive interest rates. The interest rate that you are eligible for is dependent on the lender from whom you receive the capital amount. The first major step that you will have to follow is determine your creditworthiness. This can be done by visiting the official website of a Credit Information Company. These companies give you an accurate score which plays a major factor in having your loan amount sanctioned.

    A good credit score can not only make it easier to acquire a loan amount, but will also provide a number of affordable interest options along with your loan. Credit scores that range from 750 and above is termed as a good score and this makes it considerably easier for you to have a higher loan amount sanctioned to you and at a lower interest rate. It is instrumental that you carefully draft and assess what your financial requirements are going to be so that you don't apply for a loan amount that you do not actually require as you would then have to pay a lot more in interest. Similarly, applying for a loan amount that falls short of fulfilling your financial requirements would mean that you would be forced into applying for another loan to make sure that your needs are met. Therefore, it is very important to make sure that you assess your financial needs to make sure that you do not lose any money by making extra payments as interest.

    Personal Loan Interest Rates in Vadodara 2018

    There are a number of public and private sector banks in Vadodara that offer a plethora of options when it comes to personal loans to its residents. Listed below are the interest rates that is offered by various banks located in Vadodara:

    Bank Interest Rate Range
    Citibank 10.99% to 15.99% (Fixed)
    Standard Chartered 11.25% to 14.49% (Fixed)
    Capital First 12% to 18% (Fixed)
    Oriental Bank 10.85% to 11.85% (Floating)
    Tata Capital 11.99% to 19.50% (Fixed)
    ICICI Bank 11.59% to 18.49% (Fixed)
    HDFC Bank 10.99% to 19.8% (Fixed)
    HDBFS 13.99% TO 16.99% (Fixed)
    IndusInd Bank 11.99% to 19% (Fixed)
    Kotak Business Loan 12.99% to 14.50% (Fixed)
    Kotak Mahindra 11.49% to 20.15% (Fixed)
    Aditya Birla 11.5% to 13.25% (Fixed)
    HDBFS-Business Loan 15.95% to 18.95% (Fixed)
    Fullerton 17.25% to 37% (Fixed)
    Bank of India 13% to 14% (Fixed)
    Allahabad Bank 13.10% (Fixed)
    Dena Bank 13% to 14% (Fixed)
    Bank of Maharashtra 12.75% (Fixed)
    Bank of Baroda 11.35% to 14.35% (Fixed)
    Canara Bank 12.75% (Floating)
    Central Bank 11.4% (Floating)
    Indian Bank 12.65% to 13.65% (Floating)
    IDBI Bank 12.20% (Floating)
    South Indian Bank 13% (Fixed)
    Indian Overseas Bank 13.65% (Fixed)
    Union Bank 14.4% (Floating)
    Karur Vysya 13.35% to 15.85% (Floating)
    State Bank of India 12.90% to 14.90% (Fixed)
    Tamilnad Mercantile Bank 14.30% to 16.30% (Floating)
    UCO Bank 11.35% to 11.60% (Fixed)
    Yes Bank 14% (Fixed)
    Vijaya Bank 13.50% (Fixed)

    Salary Requirements to avail Personal Loans in Vadodara

    A lender has a set of requirements that need to be met by potential borrowers if they want to loan sanctioned. Applicants who want to apply for a loan have to either be self-employed or salaried individuals and they must provide ample proof of their salary or income to the bank or lender. This is done to ascertain the legitimacy of the applicant’s capability to repay the loan. Salaried employees have to draw a minimum of Rs.10,000 a month to be eligible for a personal loan that comes with full check-off and Rs.15,000 a month for a personal loan that comes with partial/no check-off. Self-employed individuals are required to draw a minimum monthly salary of Rs.20,000 if they are to avail a loan from the bank. These requirements vary with each bank. You can visit the official website of the bank of your choice to check the salary requirement to have a personal loan sanctioned by the bank.

    Vadodara Personal Loan FAQ’s

    1. How long does a bank take to approve an application for a personal loan?

      The time taken by a bank to approve an application submitted for a personal loan varies from bank to bank. There are some bank that approve applications for a personal loan within 48 hours while there are others banks that take at least a week. On average, a bank can take 6-7 working days to approve a loan. Make sure that your documents are in order to help speed up the loan approval process.

    2. Are there any additional charges that are associated with a personal loan?

      Yes, there are. Most banks in Vadodara charge a small processing fee that ranges anywhere between 2% and 2.5% of the loan amount that you intend on borrowing. This fee is generally deducted from the loan amount that is disbursed to you.

    3. How do I repay my personal loan from Bank of Baroda?

      The repayment of a personal loan that is applied and sanctioned to residents in Vadodara can be easily made through EMIs using post-dated cheques in favour of the bank that sanctioned the loan. Another way you can repay a loan is by linking your loan to your debit account. The amount will get deducted automatically every month.

    4. If I miss an EMI payment, what are the charges levied for the same?

      You will have to pay an amount that amounts to 2% of the loan amount that has been sanctioned. This is charged as a penalty fee for missing a due date on their personal loan.

    5. What is the maximum amount of money that I can borrow through a personal loan?

      This is entirely dependent on the lender. The lender will determine your capability to repay a loan by considering various factors like credit score, annual salary, etc. Loans to the tune of Rs.5 lakh is sanctioned by most banks in the Vadodara area.

        

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    Vadodara Personal Loan Reviews

    • PaySense Personal Loan
      "Good Loan provider"
      0.5 3.5/5 "Pretty good"
      Just to improve the credit score, i have taken the personal loan from Paysense. I bought the loan amount of Rs. 50000 and they have offered me a interest rate of 15%. I have selected the duration of 12 months. They don't give the part payment facility to the customer. I have received the NOC letter via mail. I have paid the EMI amount of Rs. 4900 per month.
      Was this review helpful? 1
      , vadodara
      Reviewed on Mar 12, 2020
    • Tata capital
      Tata capital Personal Loan
      "Good Loan Service"
      0.5 3.5/5 "Pretty good"
      For the marriage purpose, i have taken this loan. I like the HDFC bank but they have sanctioned me very less amount hence i have availed the loan with TATA Capital. They have provided me a loan amount of Rs. 1.50 lakhs and got the interest rate of 18% which is quite higher anyway its acceptable. Part payment and pre-closure is available after 6 months.
      Was this review helpful? 0
      , vadodara
      Reviewed on Mar 12, 2020
    • Tata capital Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      I got a personal loan offer from HOME CREDIT hence applied direct from them on 6 months back. The duration of tenure is 51 months for the loan amount of 2.10L. I got the amount after 10 days. The rate of interest is 14% but I am not aware about fee amount deducted. EMI need to pay of 8,621 rupees. pre closure is applicable.
      Was this review helpful? 1
      , vadodara
      Reviewed on Mar 06, 2020
    • Bajaj Finserv Personal Loan
      "Good loan offer"
      0.5 5.0/5 "Blown Away!"
      I taken a personal loan from Bajaj Finserv on 2 years back. I am going to close the loan by next month. The tenure period I chosen for 2 years for the loan amount of 1.80L. The rate of interest is nominal 14% and processing fee amount was deducted. There is pre closure option. EMI need to pay of 7,741 rupees through ECS mode.
      Was this review helpful? 1
      , vadodara
      Reviewed on Mar 06, 2020
    • review Personal Loan
      "Loan services are not good"
      0.5 3.0/5 "Satisfactory"
      I took a personal loan from Bajaj Finance but they are providing me a higher interest rate. It was a hassle free process so that i opted the personal loan with Bajaj Finance. I got the flat rate of interest 18% per annum. Loan documentation are collected physically through the executive. If they reduce the interest rate, it would be fine.
      Was this review helpful? 2
      , vadodara
      Reviewed on Mar 05, 2020
    • HDFC Bank Personal Loan
      "Better Loan Service"
      0.5 5.0/5 "Blown Away!"
      Its because of the lowest interest rate, nominal processing fee and hassle free process, i have selected the personal loan from HDFC. Within a day, they have credited the amount into my account. I have done the documentation process through online. Chosen the tenure period of 5 years. I pay the EMI amount of Rs. 6661 for the loan amount of Rs. 2.85 lakhs.
      Was this review helpful? 2
      , vadodara
      Reviewed on Mar 05, 2020
    • HDFC Bank Personal Loan
      "Need to decrease interest charge"
      0.5 4.0/5 "Great!"
      I got a call on delayed basis from HDFC bank for a personal loan, it took around 2-3 days. The loan amount was sufficient, they have sanctioned by 2 week days and the tenure period is 4 years. The rate of interest is bit high of 13-14%. I am not aware about pre closure option. Their service is better than other bank and I get remainder message on time for the payment.
      Was this review helpful? 0
      , vadodara
      Reviewed on Feb 15, 2020
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken personal loan through TATA Capital online .The rate of interest and the processing fee was very high .I have availed this loan due to my requirement .This loan was sanctioned on time without any difficulties.The service was fantastic and the agent shared all the relevant details about the card process .There was proper callback and follow up from their end .
      Was this review helpful? 0
      , vadodara
      Reviewed on Feb 14, 2020
    • ICICI Bank Personal Loan
      "Easy loan "
      0.5 4.0/5 "Great!"
      I have taken a personal loan from ICICI Bank. The loan amount was Rs. 3L and the rate of interest was 11.99% which is nominal. EMI need to pay of 8K I am paying with the tenure of 5 years and I already completed 2 years. Customer service was very good and I received the loan within 5 days. Pre closure is there 5% on outstanding balance.
      Was this review helpful? 1
      , vadodara
      Reviewed on Feb 04, 2020
    • HDFC Bank Personal Loan
      "Need to improve in customer service"
      0.5 1.0/5 "Really Bad"
      I have applied HDFC Bank personal loan through online. Bank side they are not getting touch with me, no calls message from bank, so unable to give documents to them. Rate of interest was 11% which was nominal, customer service was not at all good need to improve it.
      Was this review helpful? 0
      , vadodara
      Reviewed on Feb 04, 2020
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied a personal loan from HDFC bank through online. But to get a call from bank took almost 2 working days. The process was done on smooth but the amount was low when compared to my requirement. The tenure period is too long. Rate of interest was 10% which is okay.
      Was this review helpful? 0
      , vadodara
      Reviewed on Feb 04, 2020
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I applied for Home credit personal loan through online and also went directly to the branch for submitting the documents. Once submitted the loan credited within 2 to 3 hours. I have taken a loan amount of 90K with the interest rate of1.76% per month.
      Was this review helpful? 1
      , vadodara
      Reviewed on Jan 12, 2020
    • HDFC Bank Personal Loan
      "Comfortable loan service"
      0.5 5.0/5 "Blown Away!"
      HDFC service has been good and my salary account is linked here so that i opted the personal loan with them. I applied the loan amount of Rs. 8 lakhs but based on my criteria they have sanctioned me only Rs. 6 lakhs. They have provided me a interest rate of 14%. They took 1 week to sanction my loan. I am paying the EMI amount of Rs. 16,400 with the tenure period of 5 years.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jan 07, 2020
    • Tata capital Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      TATA CAPITAL has offered a personal loan of 1L which was sufficient with tenure period of 2 years. On time I got a call from bank for further process. The process was went on smooth. I couldn't submit my payslip which I don't have hence the process was cancelled due to the bank norms. Rate of interest was high of 14%.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jan 04, 2020
    • Fullerton Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Fullerton personal loan through Online .I have not taken this loan since it was not approved from fullerton end .The agent clearly explained the whole process about the loan .I have submitted the required documents also and not have any issues with the rate of interest and the processing fee.
      Was this review helpful? 0
      , vadodara
      Reviewed on Nov 21, 2019
    • HDFC Bank Personal Loan
      "Good bank to apply for a personal loan"
      0.5 5.0/5 "Blown Away!"
      Already I had taken a personal loan of one lakh from HDFC bank on 2 years before. This loan was applied directly to them. The tenure period of 4 years. Rate of interest was around 18% per annum but there is no processing fee which was quite happy. There is an option for a pre closure thats why I took this loan. Still 48K only pending to close the loan.
      Was this review helpful? 0
      , vadodara
      Reviewed on Nov 07, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had received a call on time from HDFC bank once I was applied a personal loan. Bank executive has told to submit the documents but at that time I was in out of station. The loan amount was sufficient of 1.8L tenure of 3 years. The agent has given all information about loan details like interest rate and pre closure option.
      Was this review helpful? 0
      , vadodara
      Reviewed on Nov 07, 2019
    • Fullerton Personal Loan
      "Service not Satisfied "
      0.5 1.0/5 "Really Bad"
      I have applied a personal loan with FULLERTON through online . They have not inform the reason that for what purpose the loan was not processed further. Rate of interest was high and the agent has given all the information about the loan process .There was no follow up and callback from their end.
      Was this review helpful? 0
      , vadodara
      Reviewed on Nov 04, 2019
    • Fullerton Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan from Fullerton. When I applied I did not have salary slip so they closed my application. I have salary slip now so I will apply again. Their service is very good, verification was done on time. Fullerton's rate of interest is nominal.
      Was this review helpful? 0
      , vadodara
      Reviewed on Oct 15, 2019
    • EDELWIESS Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Edelweiss Retail Finance Limited personal loan through Online.I have got the loan amount on time and the agent gave all the required details about the loan process very clearly.While submitting the documents there was no difficulties faced as well.
      Was this review helpful? 1
      , vadodara
      Reviewed on Oct 11, 2019
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