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  • Personal Loan in Varanasi

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  • One of the oldest cities in the world, Varanasi has developed exponentially over the years and has banks that offer personal loans for interest rates as low as 10.99%. Varanasi is home to some of the biggest and best financial institutions in the country, thereby making it easy for its citizens to access funds at attractive terms and conditions. Interest rates start at just 10.99% and repayment tenures extend up to 5 years.
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    We found 18 Varanasi 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
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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
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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
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    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
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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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    Varanasi is the one of the oldest cities in the country and world which is constantly inhabited by people.Varanasi is known for its Panchakarma and authentic ayurvedic treatment. There are a large number of ayurvedic treatment centers and clinics in the city.Varanasi is home to a number of beautiful temples. The Kashi Vishwanath Temple is one of the most significant temples in the city. It is visited by millions of people from all over the world every year.The Banaras Hindu University which is situated in the city is known to be the largest residential universities in entire Asia. As the city is visited by millions of people every year, tourism has led to the economic development of the state. Some of the other industries in the city are manufacturers of heavy equipment, copperware, brassware, handicrafts, gold jewelry, rugs, carpets, clay toys and so forth.

    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 Varanasi 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

    Varanasi Personal Loan Interest RatesUpdated on 25 Oct 2020

    Varanasi 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 Varanasi

    A city on the banks of the Ganges, Varanasi is a religious hub that is located in Uttar Pradesh. Varanasi has a number of banks that aid the people residing within the city to help them meet their needs and requirements. People in Varanasi apply for personal loans for a number of reasons like renovating your home, marriage in the family or other family functions, purchase of a vehicle or home appliances, medical emergency, etc. A personal loan can be a lifesaver in times of troubles of emergencies. There are a number of personal loan products, like secured and unsecured loans, that are offered by banks in Varanasi. Getting a personal loan is Varanasi is easy and hassle-free.

    Personal Loans Offered by Various Banks in Varanasi

    There are a number of leading banks and NBFCs that offer personal loans to customers who are located all over Varanasi. In addition to providing personal credit, these banks also offer a number of different banking facilities like investment advice, net banking, asset management, and other forms of commercial lending. Listed below are a few of the prominent banks that provide personal loans and operate out of Varanasi:

    • Standard Chartered
    • Citibank
    • HDFC Bank
    • ICICI Bank
    • Kotak Mahindra

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

    When an individual applies for a personal loan, there are certain important factor that need to be considered. You will have to take your time and research on a personal loan that is offered at a good interest rate in Varanasi. This interest rate is determined by the lender from whom you wish to borrow the sum of money. An important step to follow is to make sure that you check your credit score before you apply for a personal loan. A credit score of 750 and above is considered to be good and this credit score will help you get a loan at a better interest rate. The interest rate offered by the financial institution that you approach is directly proportional to your credit score which means that a high credit score will avail a lower interest rate and vice-versa.

    Another thing to keep in mind when you are applying for a personal loan is to make sure that you assess your financial requirements before you apply for a personal loan. If you end up borrowing a high amount that you don’t really need, you will have to pay extra money to the bank as interest. Similarly, if you borrow a lower sum, you will end up taking another personal loan to meet your needs which means you will have to pay an interest on another loan amount.

    Personal Loan Interest Rates in Varanasi 2018

    Varanasi has a number of major public and private sector banking institutions that offer personal loans to the residents of Varanasi. Listed below are some of the banks in Varanasi and their interest rates:

    Bank Processing Fee Interest Rate Loan Amount Tenure
    Capital First Up to 1.5% (OTF*) 12%-18% (Fixed) Rs.15 lakhs 1-5 years
    HDBFS 1%-2% (OTF) 13.99%-16.99% Rs.30 lakhs 1-5 years
    Standard Chartered Nil 10.99%-14.49% Rs.30 lakhs 1-5 years
    TATA Capital Nil 11.99%-19.50% Rs.20 lakhs 1-6 years
    ICICI Bank 2.25% (Min. Rs.1,149) 11%-17.99% Rs.20 lakhs 1-5 years
    Citibank 1% to 2.5% 11.49%-15.99% (Fixed) Rs.30 lakhs 1-5 years
    IndusInd Bank Up to Rs.3,000 (OTF) 11.99%-19% (Fixed) Rs.25 lakhs 1-5 years
    HDFC Bank Up to 2.5% (OTF) 10.99%-19.8% (Fixed) Rs.25 lakhs 1-5 years
    Oriental Bank 0.5% (OTF) 10.85%-11.85% Rs.50,000-Rs.10 lakhs 1-5 years
    Aditya Birla Nil 11.5% to 13.25% (Fixed) Rs.30 lakhs 1-5 years
    HDBFS Business Loan 2% (OTF) 15.95%-18.95% (Fixed) Rs.20 lakhs 1-3 years
    Kotak Mahindra Up to 2% 11.49% - 20.15%Fixed Rs.15 lakhs 1-5 years
    Fullerton 1.5% to 6% (OTF) 17.25% to 37% (Fixed) Rs.15 lakhs 1-4 years
    Allahabad Bank 1.22% (Min. Rs.1,228) 13.10% (Fixed) Rs.50,000 to Rs.7.5 lakhs 1-5 years
    Bank of Baroda 1% (Min. Rs.1,000) OTF 11.35%-14.35% (Fixed) Rs.20,000 to Rs.2 lakhs 4 years
    BOM 1% (Min. Rs.1,000) 12.75% (Fixed) Rs.1.5 lakhs 1-3 years
    Bank of India Rs.1,000 to Rs.10,000 (Service Tax not included) 13%-14% (Fixed) Rs.10,000-Rs.5 lakhs 1-3 years
    Canara Bank Rs.1,000 to Rs.5,000 (OTF) 12.75% (Floating) Rs.3 lakhs 5 years
    Central Bank Rs.500 (OTF) 11.4% (Floating) Rs.10 lakhs 4 years
    Indian Bank Rs.508 to 0.508% (OTF) 12.65% to 13.65% (Floating) Rs.50,000 Max. 3 years
    Dena Bank 1% (OTF) 13%-14% (Fixed) Rs.15,000 to Rs.1 lakh 1-3 years
    IDBI Bank 1%+S.T. (OTF) 12.20% (Floating) Rs.50,000 to Rs.10 lakhs 1-5 years
    IOB 1.01% to 1.10% (OTF) 13.65% (Fixed) Rs.1 lakhs to Rs.15 lakhs 1-5 years
    South Indian Bank 0.50% (OTF) 13% (Fixed) Rs.3 lakhs 1-4 years
    Karur Vysya 0.4% (OTF) 13.35% to 15.85% Rs.1 crore Max. 1-3 years
    SBI 1% (OTF) 12.90% to 14.90% Rs.24,000 to Rs.15 lakhs 5 years
    Vijaya Bank Nil 13.50% (Fixed) Rs.10 lakhs 1-5 years
    Yes Bank Up to 2% (OTF) 14% (Fixed) Rs.20 lakhs 1-5 years
    Union Bank 0.5% (Min. Rs.500) OTF 14.4% (Floating) Rs.5 lakhs Max. 1-5 years
    Tamilnad Mercantile 1% (OTF) 14.30% to 16.30% (Floating) Rs.2 lakhs Max. 1-5 years
    UCO Bank 1% (Min. Rs.750) OTF 11.35% to 11.60% (Fixed) Rs.10 lakhs 5 years

    *OTF – One Time Fee

    Salary Requirements to Avail Personal Loans in Varanasi

    When a bank or NBFC receives an application for a personal loan, there are a few factors that they consider before sanctioning the loan. One of these factors is the individual’s salary. The financial institution needs to be certain that the individual can repay the amount. Some of the requirements that need to be met to avail a personal loan are listed below:

    • A salaried individual should have a minimum monthly income of Rs.15,000. This minimum requirement will vary from one bank to another.
    • Applicants will be required to submit a couple of documents like bank statements, address proof, identity proof, etc.
    • The age of the applicant should be anywhere between 21 years and 60 years.
    • The applicant should have resided in Varanasi for a minimum of 1 year.
    • The applicant should is required to have a minimum work experience of 2 years.

    Varanasi Personal Loan FAQs

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

      The time taken for an application to get approved will vary from bank to bank. There are banks that approve an application for a loan within a week and there are some that take 48 hours to do so. A personal loan application generally takes two to seven working days to get approved.

    2. How is a personal loan repaid?

      The repayment of a personal loan can be done in the form of Equated Monthly Instalments (EMIs) made through post-dated cheques in favour of the bank that has sanctioned the loan to you. The amount can get deducted automatically if you have linked your debit account to the loan from where you have taken the loan and also where you hold a savings account.

    3. Are there any additional charges associated with a personal loan?

      Yes, there is. Most banks charge a processing fee that ranges from 0.5% to 2.5% of the amount that you wish to borrow, and the fee is generally deducted from the amount that is disbursed to you.

    4. What is the maximum amount that I can avail with a personal loan?

      The lender or the bank shall determine the limit that you can borrow when it comes to taking out a personal loan. There are a number of factors that are considered by the bank when determining the cap on the loan amount that they can disburse. Most banks offer a sum of Rs.25 lakhs to Rs.30 lakhs.

    5. Can I avail the balance transfer facility with my personal loan?

      This is entirely dependent on the bank from which you have borrowed the sum. There are some banks that offer the balance transfer facility if the borrower has made 12 or more EMIs. You can check with the bank if this facility is available at the time of applying for the loan.

        

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    Varanasi Personal Loan Reviews

    • IDBI Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      IDBI branch was nearby me so that i had chosen the personal loan with them. I went to their branch directly to avail the personal loan and they have provided me a nominal interest rate. I bought the loan long back like 15 years. I received the NOC letter through mail.
      Was this review helpful? 7
      , varanasi
      Reviewed on Jan 02, 2020
    • HDFC Bank
      HDFC Bank Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      I find HDFC service is better than other banks so that i opted personal loan with them. I had applied the loan amount of Rs. 8 lakhs for that they have offered me a interest rate of 14%. From bank end the loan got rejected since some of the documents are not available. I have received a proper follow up call from the bank end.
      Was this review helpful? 1
      , varanasi
      Reviewed on Jan 02, 2020
    • HDFC Bank Personal Loan
      "Need to be process at earlier"
      0.5 4.0/5 "Great!"
      HDFC bank has offered a personal loan on a last month which was applied through an online. They charged 1% of documenting processing fee. I received a call thrice from their end for verification process. The loan amount was sufficient ,once all verification completed they intimated as loan got approved by shortly it will get disbursed but later no update and the process was delay to complete. So I have closed the process from my end.
      Was this review helpful? 0
      , varanasi
      Reviewed on Nov 06, 2019
    • HDFC Bank Personal Loan
      "Need to decrease interest charges"
      0.5 4.0/5 "Great!"
      I was applied for a personal loan with HDFC bank on few months before which was processed through an online. They have provided with interest rate of 17.5% for the loan amount of around one lakh, tenure period is 4 years. I received a call on time for further process. Since I am unable to submit the documents on time so I think bank had closed this application.
      Was this review helpful? 0
      , varanasi
      Reviewed on Nov 01, 2019
    • ICICI Bank Personal Loan
      "Good bank to apply for a personal loan"
      0.5 5.0/5 "Blown Away!"
      From ICICI bank offered for a personal loan of 10 lakhs which I had taken on 4 years before. Directly the process was done with bank without any issues. The tenure period of 5 years. The rate of interest was 11% with processing fee of 1%. For an EMI payment I use to pay for 20 thousands on monthly basis. There is an option for a pre closure with no charges.
      Was this review helpful? 2
      , varanasi
      Reviewed on Oct 24, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I applied for a personal loan with HDFC bank through an online. Tenure period they have offered for 3 years. At an initial executive has given all the details about loan with rate of interest of 13%. As of now not required for the loan, so the process was closed from my end.
      Was this review helpful? 1
      , varanasi
      Reviewed on Oct 24, 2019
    • HDFC Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online.I have not taken this loan since dont have any payslip .I was not having any difficulties with the rate of interest and the processing fee .There was proper callback and response from bank end .I am satisfied with the overall service .
      Was this review helpful? 0
      , varanasi
      Reviewed on Oct 14, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have got all the required details about the loan process very clearly through the agent,The the loan amount got sanctioned on time ,The rate of interest and the processing fee was nominal ,I have got proper callback and follow up from bank end .
      Was this review helpful? 0
      , varanasi
      Reviewed on Oct 10, 2019
    • Fullerton Personal Loan
      "Need proper service"
      0.5 1.0/5 "Really Bad"
      I have submitted all the documents via online twice or thrice to process the personal loan with Fullerton but nobody turned up which am not happy. It would be great, if they can call back the customer and intimate the loan process. I have applied for 5L.
      Was this review helpful? 0
      , varanasi
      Reviewed on Sep 27, 2019
    • HDFC Bank Personal Loan
      "Good Bank for the loan product"
      0.5 3.5/5 "Pretty good"
      Currently there is no requirement to take the personal loan from HDFC bank, in future if I need loan, I would prefer them. But the response was prompt and service was satisfactory. I feel the rate of interest was little bit higher it can be economical.
      Was this review helpful? 1
      , varanasi
      Reviewed on Sep 27, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan from HDFC Bank. Rate of interest was nominal. I submitted my documents online. One of their executives asked me to submit salary slip. I am self employed, I don't have salary slip. I could provide ITR still they closed my application.
      Was this review helpful? 0
      , varanasi
      Reviewed on Sep 21, 2019
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan through Online .The rate of interest and the processing fee was not an issue .I have not taken this loan due to personal issues so not required this loan at that time .I have got all the details about the loan process and there was no difficulties faced when applied for this loan.
      Was this review helpful? 0
      , varanasi
      Reviewed on Sep 19, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have applied for personal loan with HDFC bank recently, but i closed the application because of no proper response from them, they did not came to collect documents, no proper information was made, so far i am not happy with them as they did not made any concern as well after closing application.
      Was this review helpful? 0
      , varanasi
      Reviewed on Jul 10, 2019
    • HDFC Bank Personal Loan
      "Best Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for personal loan through Online ,I have applied for the loan amount of 3.4 and the agent told will get 2.10lakhs will be relieve hence cancelled the plan ,the agent gave all information about the loan process ,I have not submitted any documents..I have not faced any difficulties when applied for this loan .
      Was this review helpful? 0
      , varanasi
      Reviewed on Jun 26, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I was taken a personal loan in HDFC bank before 4 years ago which was processed directly to bank. The loan got sanctioned on time. As per my requirement I received a loan for the duration of 2 years. The rate of interest and processing fee are average. I have closed the loan on time without an issue.
      Was this review helpful? 1
      , varanasi
      Reviewed on Jun 23, 2019
    • HDFC Bank Personal Loan
      "Need to increase a loan amount"
      0.5 4.0/5 "Great!"
      I was applied for a personal loan in HDFC bank before 2 months ago through an online. On time I received a call from banker and the loan amount was low which was offered for the duration of 5 years. The rate of interest and processing fees are average. Due to amount was low I have closed the loan.
      Was this review helpful? 0
      , varanasi
      Reviewed on Jun 23, 2019
    • HDFC Bank Personal Loan
      "Need to improve in customer service"
      0.5 1.0/5 "Really Bad"
      I have taken a HDFC BANK Personal loan,the loan amount was Rs. 3,50,000. I am not happy with the rate of interest 12.5%. I received the loan amount nearly it took one month.Customer service need to improve if i call customer service i am not getting proper response and i am not getting any notification.
      Was this review helpful? 2
      , varanasi
      Reviewed on Apr 16, 2019
    • HDFC Bank Personal Loan
      "Good in Service"
      0.5 4.0/5 "Great!"
      There was a need of personal loan and i had applied with HDFC bank. This is my first loan with HDFC bank and when it comes to the interest rates it is pretty much high. It would be good if the limit comes down a bit.Apart from this i am happy with the overall services.
      Was this review helpful? 0
      , varanasi
      Reviewed on Jan 17, 2019
    • HDFC Bank Personal Loan
      "Best In Need"
      0.5 4.5/5 "Excellent!"
      I was in a need of Personal loan and that was the time i had applied with HDFC and i am thankful to HDFC as they have processed my request so quick. There was no delay and also the interest rates i find it ok as now. My need was taken care and i hope HDFC will keep serving better in coming days too.
      Was this review helpful? 2
      , varanasi
      Reviewed on Nov 04, 2018
    • HDFC Bank Personal Loan
      "good"
      0.5 5.0/5 "Blown Away!"
      I have taken loan with HDFC BANK 5years back. Interest rate is 13.99% which is nominal in the market, and my loan amount is 2.5lakh and it is satisfactory. There is no hidden charges. I use to pay 8500 as EMI per month and tenure period is 3years. Customer service response is good.
      Was this review helpful? 4
      , varanasi
      Reviewed on Jul 31, 2018
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