Multiple banks. Different interest rates. Call it a "conflict of interest".
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    Vadodara Personal Loan

    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 33 Vadodara Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.75% - 18.00% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Accelerated Approval
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    20% - 22%  Fixed
    2.50%
    2L Max
    1-3 Years
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    Eligibility Criteria
    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
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    11.25% - 21.50% Fixed
    Up to 2.5% One time fee
    40L 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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    11.25% - 19.99% Fixed
    Up to 2.5%
    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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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    100% PAPERLESS APPROVAL
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    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    100% PAPERLESS APPROVAL
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    Vadodara Personal Loan is Rated as "Great!" by 563 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    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 25 Jun 2019

    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

    • HDFC Bank Personal Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I have applied for this personal loan though HDFC Bank, I have applied for the loan amount of 3.5lakhs for the tenure of 5 years ,The rate of interest and the processing fee was nominal ,I have got the loan amount on time and it was sufficient as well .I have got the loan through paperless approval as well.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 24, 2019
    • Kotak
      Bank Bazaar Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I came to know about Bank bazaar through Online only . .This portal is really doing a very good service ,This portal is well known to everyone now a days .There was an option to check credit score it is really useful but having some variation on this score .I am really comfortable on using this Portal so far .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 24, 2019
    • Kotak Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Kotak Mahindra Bank personal Loan which was taken through Online ,I have not got the loan since there was no eligibility and also rate of interest and the processing fee was high ,The agent gave all the information about the loan process and it was very clear and there was no difficulties faced .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 24, 2019
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I came to know about Bank bazaar service through on line, i have been availing their service from past one year approximately like i use to check my credit score from them, their service is good, their mobile application is user friendly so far i did not face any issue.
      Was this review helpful? 1
      , vadodara
      Reviewed on Jun 24, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I applied my personal loan with HDFC BANK . They cancel this loan saying that my company is not listed in their bank so . I applied 157000 loan and they was reddy to give the same amount . The rate got interest was nominal and the response was good here .
      Was this review helpful? 1
      , vadodara
      Reviewed on Jun 23, 2019
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Had a lovely experience with Bank Bazaar, i have applied for a personal loan but it got cancel . Bank Bazaar as there processing is quick and there was less documentation. Without any hurdle the work can ve done .My first experience is good only the call flow is very high .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 23, 2019
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of Bank Bazaar for almost a year now and their services has been up to the mark. I had been using it for checking with credit cards and for getting my personal loans. Their mobile applciation has been having a good user interface and their customer support is also good.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 23, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I applied the personal loan with KOTAK MAHINDRA BANK . But i cancel the loan because i am not in need i just want to enquire about this . The rate of interest was nominal and the loan amount i applied was 200000 and they are reddy to give . Overall it is good .
      Was this review helpful? 1
      , vadodara
      Reviewed on Jun 23, 2019
    • Bajaj Finserv Personal Loan
      "Need to reduce the interest rate"
      0.5 4.0/5 "Great!"
      I had a personal loan earlier and it was closed by last year. Bajaj Finserv has provided me a flexi personal loan, they were first in the market with this option. The customer service is good but never contacted. The interest rate is high around 15% and there was a processing fee of 2%.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 22, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have received a call immediately from the executive once I made an online request for personal loan. I am using Bankbazaar.com for last 2 years. It helps to get the policies and to find out the best offers on the market. The website is good and once I faced an issue other than this everything was good.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 22, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      HDFC has provided me a interest rate of 14%. Actually I was looking for cheaper rate of interest than this so I have declined the loan and done a topup on my home loan with Bajaj Finserv. They have informed me processing fee. I have received couple calls from the executive for processing the loan.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 22, 2019
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I came to know about Bank bazaar through Online .This portal is really doing a better financial service.We can get all the details about the financial products clearly and it will be perfect also . I have not faced any difficulties so far on using this portal .I am very comfortable on using this website and very much satisfied with the service .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 21, 2019
    • Kotak Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Kotak Mahindra Bank personal Loan through Online .The agent gave all the relevant details about the loan process ,I have not submitted any documents ,The rate of interest and the processing fee was high as well .I have not taken the loan since got the ,oan from some other source .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 21, 2019
    • Bajaj Finserv Personal Loan
      "Need to decrease charges"
      0.5 4.0/5 "Great!"
      I have taken a personal loan in BAJAJ FINSERV before 3 months ago, the loan amount is sufficient which is provided from bank for the duration of 5 years.The rate of interest is nominal but an other detection charges is high. The document process was done on smooth. On time loan got sanctioned.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 20, 2019
    • Bank Bazaar Personal Loan
      "Customer friendly"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar website helps to many customer to choose the right products based on the profiles with many banks option. At an initial I came to know about bazaar through a website for the first time. I am yet to use the mobile application. The customer service is good and supportive.
      Was this review helpful? 1
      , vadodara
      Reviewed on Jun 20, 2019
    • Kotak Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I was applied for a personal loan in KOTAK MAHINDRA bank through an online. I received a call from banker on time. The loan amount was sufficient at the time offered from bank for the tenure of 5 years. The rate of interest and the processing fee are average. I got a loan from an other source I have not process for further.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 20, 2019
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am using the service of bank bazaar from past few months. I came to know about this website through mail. This was my first experience with bank bazaar . While applying for loan from bank bazaar the process is very easy and smooth .The customer service the good.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 20, 2019
    • HDFC Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I applied my personal loan with HDFC BANK . I cancel this loan because the loan amount which i demand was not getting the same . I am happy with customer service they respond on time . The rate of interest was charge by them was nominal it is 14% . Overall it is good .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 20, 2019
    • Bank Bazaar Personal Loan
      "Good Service"
      0.5 2.5/5 "Just OK"
      I came to know about Bank bazaar through Google.This is a user friendly one ,can explore financial product through this site this portal is really doing a good service .The information should be transparent and it should be clear that is the only suggestion according to me .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 08, 2019
    • Citibank Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      I have applied for Citi Bank personal loan there was a difficulty faced by me .Our agent gave a different rate of interest and Bank gave a different rate of interest so had a confusion .The agent gave the details about the loan process ,I have not yet submitted any documents ,Since the rate of interest was very high not taken the loann.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 08, 2019
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