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We found 1 Vijaya Bank Personal Loan Eligibility
Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
13.50% Floating
0.75% + applicable tax One time fee
10L Max
1-5 years
Response Time : Within 30 minutes
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Eligibility Criteria
Vijaya Bank Personal Loan Eligibility is Rated as "Excellent!" by 22 Users

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Vijaya Bank Personal Loan Eligibility

Vijaya Bank is a mid-sized public sector bank with various branches spread across India. Personal loans offered by Vijaya Bank are aimed at meeting the short term financial requirements of customers such as a holiday abroad or renovation of their homes. Vijaya Bank offers personal loans for up to Rs. 6 lakhs to salaried customers with a regular income. Customers should ensure that they have a robust credit history since EMIs of other existing loans lower their eligibility to avail of personal loans. Making timely payments and choosing a longer tenure are some of the other key factors which boost a customer’s ability to acquire a personal loan.

Vijaya Bank Personal Loan Eligibility

The eligibility criteria for salaried persons is as follows:

  • For salaried individuals
  • Minimum Age: 21 years

    Maximum Age: 55 years

    Repayment period:60 months

    Maximum Loan Amount:Rs. 6 lakh

    Guarantor:Required

    Income: Salaried with regular income

  • For pensioners
  • The eligibility criteria for pensioners is as follows:

    Minimum Age:21 years

    Maximum Age: 72 years

    Repayment period: 60 months

    Maximum Loan Amount: 18 months gross pension with a maximum of up to Rs.2 lakh

    Guarantor: Required. The spouse should be the guarantor unless dead or separated, in which case, Vijaya Bank will accept a third party as guarantor.

Factors Affecting Eligibility of Vijaya Bank Personal Loans

  • Age: Banks are more likely to provide personal loans to individuals who have several productive years before them. The age profile of customers is one of the important factors considered prior to approval of personal loans.
  • Income: Banks have to ascertain the ability of a customer to repay the loan. Vijaya Bank has set a minimum monthly net salary as one of the eligibility criteria to ensure that customers have a sound financial strength or base in terms of income. Also, Vijaya Bank may not provide loans to customers, if they have been job hoppers in the recent past.
  • Stability: Banks are wary of customers who change their jobs frequently- do not strive to consolidate their position in one company. Frequent change of jobs makes employees more vulnerable to layoffs in addition to weakening their prospects of getting promotions and increments. Customers who have been with a company for a longer period of time will have little trouble acquiring personal loans.
  • Rapport: Many customers usually tend to be loyal to one bank or another over a period of time. Loyalty to a bank leads to an easy rapport with a bank which may result in attractive interest rates on personal loans for the benefit of customers. More often than not, customers who have been associated with a bank can avail of personal loans without any hassles.

How CIBIL score affects your Vijaya Bank Personal Loan Eligibility?

  • Existing loans: Loan eligibility of a customer will take a beating if he or she has taken several loans at a given point of time. CIBIL report will reflect the credit behaviour of the loan applicant. If a customer is too credit hungry, his or her CIBIL report will reflect his lack of fiscal prudence. Consequently, most banks will not entertain customers who are not aware of the perils of excessive credit which may eventually lead to a debt trap and defaults.
  • Credit score: One of the most important factors which affect a customer’s loan eligibility- credit score, gives banks an accurate data of the repayment habits and history of credit behaviour of the loan applicant. A bad credit may effectively mar the chances of availing a personal loan by Vijaya Bank. Alternatively, a very good Cibil score can boost the chances of acquiring a personal loan.
  • Repayments: Customers have to ensure that they pay their EMIs on time. If customers have more than one loan, they will find it difficult to repay loan instalments on schedule. Payment of bills regularly without fail is, therefore, of seminal importance since it has a bearing on cibil score, which is reviewed by banks before approving a loan.

How to increase Vijaya Bank Personal Loan Eligibility?

  • Creditworthiness:Timely payment is an important determinant of the creditworthiness of a customer. CIBIL score of 750 score and above shows creditworthiness of a customer. In most cases, banks easily approve loans for customers who have a CIBIL score of over 700. Customers should ensure that they have a robust track record in terms of repayments to increase their eligibility to avail of personal loans.
  • Loan tenure: According to experts, increase in tenure will result in reduction of EMIs, effectively increasing an individual’s ability to pay. The tenure of a loan, therefore, has a bearing on the loan eligibility of an individual.
  • Clean record: Customers have to ensure that they have a clean repayment history. CIBIL score is adversely affected if a customer defaults or makes late payments. Banks will take serious note of any defaults by the customer in the recent past.

FAQs on Vijaya Bank Personal Loan Eligibility

  • What is the age criteria set by Vijaya Bank for salaried persons?

    The minimum age is 21 years, while the maximum age is 55 years.

  • Does Vijaya Bank demand any guarantors on personal loans?

    Yes. The spouse should be the guarantor unless dead or separated, in which case, Vijaya Bank will accept a third party.

  • What is the maximum loan amount that Vijaya Bank offer to customers?

    The maximum loan amount Vijaya Bank offers is Rs. 6 lakhs.

Personal Loan Reviews

  • Vijaya Bank Personal Loan
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    My personal loan was taken with VIJAY BANK 2 months back. The loan amount was 58,000 and the interest rate was satisfactory . The customer service and responses was good. The tenure period was years and here is no convenient faced . I had a very satisfactory process here,
    Was this review helpful? 4
    , bangalore
    Reviewed on Aug 21, 2018
  • Vijaya Bank Personal Loan
    "Good Experience"
    0.5 4.0/5 "Great!"
    Vijaya bank told to open an account for the Personal loan, only they were looking authorized person then loan documentation went well. I took the loan of Rs. 3 lakhs without any pressing fee but they took bond paper around Rs. 500 from the disbursal amount.
    Was this review helpful? 2
    , bangalore
    Reviewed on Feb 16, 2018
  • Vijaya Bank Personal Loan
    "Best service"
    0.5 5.0/5 "Blown Away!"
    My Personal loan experience with Vijaya bank was good, the loan amount was for Rs 3-4 lakhs with the nominal rate of interest when compared to all other banks. Customer service was good and they provided door step service to collect the documents. The tenure of this loan is 4 years and overall it was a good service.
    Was this review helpful? 1
    , new delhi
    Reviewed on Feb 14, 2018
  • Vijaya Bank Personal Loan
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a personal loan from Vijaya Bank for rs 2,00,000 with rate of interest 13.25% for 48 months and was okay with the processing charge. The process was perfect and there were no hassles in getting my loan through. I am happy that the process to get the loan was good.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 29, 2018
  • Vijaya Bank Personal Loan
    "Process is fantastic"
    0.5 5.0/5 "Blown Away!"
    I have taken a personal loan from Vijaya Bank two years ago. The process was perfect and there were no hassles in getting my loan through. The interest rate was a bit high, it was around 13% and the processing charges was okay. I am happy that the process to get the loan was swift.
    Was this review helpful? 3
    , new delhi
    Reviewed on Sep 22, 2017
  • Vijaya Bank Personal Loan
    "Best Service"
    0.5 5.0/5 "Blown Away!"
    I got the salaried account with VIJAYA bank. Based on the salaried account, I got the home loan and personal loan from vijaya bank. They took around 15 days to disburse my personal loan . The rate of interest is nominal with Vijaya bank. I am happy with the loan amount and satisfied with the service.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jun 13, 2017
  • Vijaya Bank Personal Loan
    " Hassle free"
    0.5 5.0/5 "Blown Away!"
    Two years back, I had taken personal loan from Vijaya bank, still its running. I took the loan amount of Rs.5 Lakhs this is for a tenure of five years with the rate of interest of 13% and there was no processing fee too. Vijaya Bank has got part payment and preclosure option too.
    Was this review helpful? 2
    , hyderabad
    Reviewed on May 03, 2017
  • Vijaya Bank Personal Loan
    "VERY GOOD"
    0.5 4.0/5 "Great!"
    The best personal loan that I have ever taken was from Vijaya Bank the service offered by them was good. I had applied for the personal loan twice before with the same bank. However I am an account holder of Vijaya bank they had offered me the least interest rate which was 14.05% Documentation process was simple.
    Was this review helpful? 2
    , hospet
    Reviewed on Mar 08, 2017
  • Vijaya Bank Personal Loan
    "Excellent !!!!"
    0.5 5.0/5 "Blown Away!"
    I have the salaried account with vijaya bank. I submitted document for the personal loan on the same day the amount was credited. Every thing went on smooth as i am already a know customer to them. The cheapest interest rate was offered like they were charging the base rate which gets on reduces.
    Was this review helpful? 4
    , mumbai
    Reviewed on Apr 30, 2016
  • Vijaya Bank Personal Loan
    "Wonderful"
    0.5 4.0/5 "Great!"
    I have closed the personal loan with the Vijaya bank and the interest rate was okay with them. I got the loan to be disbursed within a week of time. Customer service and the responsiveness are good with the Vijaya bank.
    Was this review helpful? 3
    , chennai
    Reviewed on Mar 01, 2016
  • Vijaya Bank Personal Loan
    "Very good"
    0.5 3.0/5 "Satisfactory"
    Vijaya bank has given the personal loan with 13.7% interest rate. They took only four to five working hours to disburse the amount after completing the documentation. Compared to other bank the required documents is very high with vijaya
    Was this review helpful? 2
    , bellary
    Reviewed on Jan 22, 2016
  • Vijaya Bank Personal Loan
    "Happiest customer..."
    0.5 5.0/5 "Blown Away!"
    Vijaya bank is not that huge but they processed and delivered the personal loan on time. In five to six days I received one lakh. I can also rate more than five for Vijaya bank as literally they good. Directly the officers came my place to collect papers and within 24 hours they disbursed from the time of documentation. For personal loan the interest rate is just 9%.
    Was this review helpful? 1
    , mumbai
    Reviewed on Nov 27, 2015
  • Vijaya Bank Personal Loan
    "Good Enough!!"
    0.5 3.0/5 "Satisfactory"
    They do not have a online system so everything was done offline. Immediately an executive came to collect the documents. In a weeks time they have approved my loan. Interest rate was around 15% hence satisfied. Very nominal processing fee was charged. Service was good. It would be better if Vijaya Bank establish online system so that it will be helpful.
    Was this review helpful? 1
    , bellary
    Reviewed on Nov 25, 2015
  • Vijaya Bank Personal Loan
    "Its fine"
    0.5 4.0/5 "Great!"
    The first and foremost reason for selecting Vijaya bank for the personal loan was the interest rate . The rate of interest offered by them was 13.7% and the processing fee for 3 lakhs is rs 3400. Online is not good when compared with ICICI. No discounts was given on the processing fee. Insurance was there however I did not opt for it.
    Was this review helpful? 2
    , bellary
    Reviewed on Nov 24, 2015
  • Vijaya Bank Personal Loan
    "The best loan"
    0.5 5.0/5 "Blown Away!"
    he best personal loan that I have ever taken was from Vijaya Bank the service offered by them was good. This loan was offered based on my salary account. I have applied for many banks. Interest rate offered by other bank were charging around 19%. However I am an account holder of Vijaya bank they have offered me the least interest rate which was 14.30% as of now its 14%. When I apply for other banks will take to force to take insurance where with Vijaya no such charges only handling fee was there.
    Was this review helpful? 2
    , bangalore
    Reviewed on Nov 17, 2015
  • Vijaya Bank Personal Loan
    "Best rates "
    0.5 4.0/5 "Great!"
    Vijaya Bank have processed the loan application within 3-7days and they are good in loan process.Since I maintain my salary account with the same bank it was a easy process to get the loan.The response provided was not that good but they offer the best interest rate for the loan.
    Was this review helpful? 6
    , bangalore
    Reviewed on Oct 28, 2015
  • Vijaya Bank Personal Loan
    "Simple Documentation"
    0.5 5.0/5 "Blown Away!"
    Vijaya bank disbursed the personal l loan within 24 hour after submitting the document as the manger was good. Interest rate offered was approximately 13.5% which was low compared to other banks and the processing fee was nominal. Documentation process was simple.
    Was this review helpful? 3
    , angul
    Reviewed on Oct 26, 2015
  • Vijaya Bank Personal Loan
    "Twice taken "
    0.5 4.0/5 "Great!"
    I am having my salary account with VIJAYA bank. I took the personal loan from them which is for 2 lakhs. They have offered me the common rate of interest which is available in the market. I completed this loan before in one year itself. I do not find any difficulties with them.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Oct 20, 2015
  • Vijaya Bank Personal Loan
    "Not satisfied.."
    0.5 2.0/5 "Expected more"
    I actually pre closed the personal loan from Vijaya bank because not satisfied with the services of the bank. The rate was 16% which is reducing basis. Just for sanctioning of one lakh they took almost three months, which is dissatisfied. Pre closure charge was nil.
    Was this review helpful? 2
    , mysore
    Reviewed on Sep 18, 2015
  • Vijaya Bank Personal Loan
    "Satisfactory.."
    0.5 5.0/5 "Blown Away!"
    VIJAYA Bank offered me a Personal loan with 10.50% rate of interest and compare to other banks its quiet less. Loan process was very fast and I am happy with their service. Processing charges charged by them was 500rs. I am getting regular alerts from them also.
    Was this review helpful? 2
    , bangalore
    Reviewed on Sep 14, 2015
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