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  • Vijaya Bank Personal Loan Interest Rates

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  • Vijaya Bank offers personal loans with reasonable interest rates of 13.5% p.a. The bank also levies a nominal one-time processing fee of 0.75% of the loan amount. Prospective borrowers can choose a maximum loan tenure of 60 months. The maximum loan amount that salaried employees can borrow is Rs.10 lakh, while pensioners can borrow up to Rs.2 lakh. Vijaya Bank’s personal loan scheme can help you pay for unexpected personal expenses.

    Particulars Details
    Interest Rate 12.75% p.a. (pensioners); 13.5% p.a. (salaried employees)
    Processing Fee 0.75% of the loan amount plus GST
    Loan Tenure Up to 60 months
    Loan Amount Up to Rs.2 lakh (pensioners); Up to Rs.10 lakh (salaried employees)
    Employment Status Salaried employees and pensioners
    Credit Score Ideal score – Above 700
    Lowest EMI per Lakh Rs.2,263*

    *Note: For the EMI calculation, it is assumed that a loan amount of Rs.1 lakh has been borrowed for a loan tenure of 5 years at an interest rate of 12.75% p.a., with a processing fee of 0.75%.

    Factors Affecting Vijaya Bank Personal Loan Interest Rates

    • Tenure of the personal loan - Based on the discretion of the bank, a longer tenure might have a lower or higher rate of interest.
    • Repayment capacity - Vijaya Bank will check the repayment capability of a customer before deciding the interest rate for the loan. Those who have a higher repayment capacity may be charged a lower rate of interest.
    • Income - Lenders also check the applicant’s income before fixing the interest rate for the loan. Individuals who earn a steady income are likely to be charged a lower rate of interest.
    • Relationship with the bank - An existing customer of Vijaya Bank is bound to get preference when applying for a personal loan and the bank might consider providing a better rate of interest to the customer.
    • CIBIL scores – A personal loan applicant’s CIBIL score serves as a good indicator of their repayment ability. Thus, individuals who have a credit score above 700 are more likely to get personal loans at lower interest rates. On the other hand, individuals who have a low credit score are may be charged a higher interest rate.
    • Employment Status – Most lenders including Vijaya Bank charge pensioners a lower rate of interest, in comparison to other applicants. Also, if you are employed with a reputed organisation, it is likely that the lender will charge you a more reasonable rate of interest.

    Other Fees and Charges

    In addition to the interest rate and processing fee that is charged by the lender, prospective personal loan borrowers will also have to pay documentation charges. The applicable charges are as follows:

    • For loan amounts of Rs.2 lakh and below: Nil
    • For loan amounts of over Rs.2 lakh: 0.10% of the borrowed loan amount plus GST, subject to a minimum charge of Rs.500 plus GST


    The rate of interest that you are charged on a personal loan is one of the primary factors that affect the cost of your loan. If you are charged a high rate of interest, the overall cost of your loan will increase, and vice versa. To better understand how the interest rate that you are charged will affect your repayments, let us look at two illustrations.

    Example 1: Priyanka, a young professional with a work experience of around 2 years, earns a monthly salary of Rs.25,000. She applies to Vijaya Bank for a personal loan of Rs.1 lakh. She chooses a loan tenure of 2 years to ease the repayment burden. The lender charges her an interest rate of 13.75% p.a. She also has to pay a processing fee of 0.75%. Priyanka’s repayment details will be as follows:

    Loan Amount Rs.1 lakh
    Processing Fee 0.75% of the borrowed loan amount
    Loan Tenure 2 years
    Interest Rate 13.75% p.a.
    Month Principal Paid (A) Interest Paid (B) Total Payment (A+B) Outstanding Loan Balance
    1 Rs.3,644 Rs.1,146 Rs.4,790 Rs.96,356
    2 Rs.3,685 Rs.1,104 Rs.4,789 Rs.92,671
    3 Rs.3,728 Rs.1,062 Rs.4,790 Rs.88,943
    4 Rs.3,770 Rs.1,019 Rs.4,789 Rs.85,173
    5 Rs.3,814 Rs.976 Rs.4,790 Rs.81,359
    6 Rs.3,857 Rs.932 Rs.4,789 Rs.77,502
    7 Rs.3,901 Rs.888 Rs.4,789 Rs.73,601
    8 Rs.3,946 Rs.843 Rs.4,789 Rs.69,655
    9 Rs.3,991 Rs.798 Rs.4,789 Rs.65,663
    10 Rs.4,037 Rs.752 Rs.4,789 Rs.61,626
    11 Rs.4,083 Rs.706 Rs.4,789 Rs.57,543
    12 Rs.4,130 Rs.659 Rs.4,789 Rs.53,413
    13 Rs.4,177 Rs.612 Rs.4,789 Rs.49,235
    14 Rs.4,225 Rs.564 Rs.4,789 Rs.45,010
    15 Rs.4,274 Rs.516 Rs.4,790 Rs.40,736
    16 Rs.4,323 Rs.467 Rs.4,790 Rs.36,413
    17 Rs.4,372 Rs.417 Rs.4,789 Rs.32,041
    18 Rs.4,422 Rs.367 Rs.4,789 Rs.27,619
    19 Rs.4,473 Rs.316 Rs.4,789 Rs.23,146
    20 Rs.4,524 Rs.265 Rs.4,789 Rs.18,621
    21 Rs.4,576 Rs.213 Rs.4,789 Rs.14,045
    22 Rs.4,629 Rs.161 Rs.4,790 Rs.9,417
    23 Rs.4,682 Rs.108 Rs.4,790 Rs.4,735
    24 Rs.4,735 Rs.54 Rs.4,789 Rs.0

    Thus, Priyanka will need to pay an EMI of Rs.4,789 on a monthly basis to Vijaya Bank during the two-year loan tenure. The lender will charge her a total interest of Rs.14,948 and a one-time processing fee of Rs.750. Her total repayment amount will be Rs.1,15,698.

    Example 2: Mohit is a professor at a private university and earns a monthly income of Rs.50,000. He will be getting married soon and is running short of funds. He takes a loan of Rs.3 lakh from Vijaya Bank to cover the additional expenses. He chooses a loan repayment term of 3 years. The lender charges him an interest rate of 13.75% p.a. and a processing fee of 0.75%. Mohit’s loan repayment details will be as follows:

    Loan Amount Rs.3 lakh
    Processing Fee 0.75% of the borrowed loan amount
    Loan Tenure 3 year
    Interest Rate 13.75% p.a.
    Month Principal Paid (A) Interest Paid (B) Total Payment (A+B) Outstanding Loan Balance
    1 Rs.6,779 Rs.3,438 Rs.10,217 Rs.2,93,221
    2 Rs.6,857 Rs.3,360 Rs.10,217 Rs.2,86,364
    3 Rs.6,936 Rs.3,281 Rs.10,217 Rs.2,79,428
    4 Rs.7,015 Rs.3,202 Rs.10,217 Rs.2,72,413
    5 Rs.7,096 Rs.3,121 Rs.10,217 Rs.2,65,317
    6 Rs.7,177 Rs.3,040 Rs.10,217 Rs.2,58,140
    7 Rs.7,259 Rs.2,958 Rs.10,217 Rs.2,50,881
    8 Rs.7,342 Rs.2,875 Rs.10,217 Rs.2,43,539
    9 Rs.7,426 Rs.2,791 Rs.10,217 Rs.2,36,113
    10 Rs.7,511 Rs.2,705 Rs.10,216 Rs.2,28,601
    11 Rs.7,598 Rs.2,619 Rs.10,217 Rs.2,21,004
    12 Rs.7,685 Rs.2,532 Rs.10,217 Rs.2,13,319
    13 Rs.7,773 Rs.2,444 Rs.10,217 Rs.2,05,547
    14 Rs.7,862 Rs.2,355 Rs.10,217 Rs.1,97,685
    15 Rs.7,952 Rs.2,265 Rs.10,217 Rs.1,89,733
    16 Rs.8,043 Rs.2,174 Rs.10,217 Rs.1,81,690
    17 Rs.8,135 Rs.2,082 Rs.10,217 Rs.1,73,555
    18 Rs.8,228 Rs.1,989 Rs.10,217 Rs.1,65,327
    19 Rs.8,323 Rs.1,894 Rs.10,217 Rs.1,57,005
    20 Rs.8,418 Rs.1,799 Rs.10,217 Rs.1,48,587
    21 Rs.8,514 Rs.1,703 Rs.10,217 Rs.1,40,072
    22 Rs.8,612 Rs.1,605 Rs.10,217 Rs.1,31,460
    23 Rs.8,711 Rs.1,506 Rs.10,217 Rs.1,22,750
    24 Rs.8,810 Rs.1,407 Rs.10,217 Rs.1,13,939
    25 Rs.8,911 Rs.1,306 Rs.10,217 Rs.1,05,028
    26 Rs.9,013 Rs.1,203 Rs.10,216 Rs.96,015
    27 Rs.9,117 Rs.1,100 Rs.10,217 Rs.86,898
    28 Rs.9,221 Rs.996 Rs.10,217 Rs.77,677
    29 Rs.9,327 Rs.890 Rs.10,217 Rs.68,350
    30 Rs.9,434 Rs.783 Rs.10,217 Rs.58,916
    31 Rs.9,542 Rs.675 Rs.10,217 Rs.49,374
    32 Rs.9,651 Rs.566 Rs.10,217 Rs.39,723
    33 Rs.9,762 Rs.455 Rs.10,217 Rs.29,961
    34 Rs.9,874 Rs.343 Rs.10,217 Rs.20,088
    35 Rs.9,987 Rs.230 Rs.10,217 Rs.10,101
    36 Rs.10,101 Rs.116 Rs.10,217 Rs.0

    In Mohit’s case, he will need to pay a monthly EMI of Rs.10,217. Since he chooses a longer loan tenure, his interest outgo will come up to Rs.67,807. He will also have to pay a processing fee of Rs.2,250. His total repayment amount, at the end of the loan repayment term, will come up to Rs.3,70,058.

    Before you apply for a personal loan from Vijaya Bank, ensure that you check the interest rate charged by the lender and work out the payable EMI using an EMI calculator.


    1. Should I have a bank account with Vijaya Bank to borrow a personal loan from the lender?
    2. Yes. In fact, your salary/pension should be routed through Vijaya Bank for you to be eligible to borrow a personal loan from the lender.

    3. Is third-party guarantee required to avail a personal loan from Vijaya Bank?
    4. If you a salaried employee, third-party guarantee is a must. However, guarantee from the spouse, in this case, is not required. For pensioners, a guarantee from their spouse is mandatory. If this is not available, the borrower should submit their dependent’s guarantee.

    5. What is the minimum age that salaried employees are required to be to borrow a personal loan from the lender?
    6. Salaried employees should have at least attained the age of 21 years to be eligible to borrow a personal loan from Vijaya Bank.

    7. Does the lender specify any restrictions with regard to how the loan amount can be used?
    8. No, the lender does not specify any restrictions with regard to how you can use the loan amount.

    9. Up to what age can pensioners borrow from Vijaya Bank?
    10. Pensioners who are not over the age of 72 years can borrow loans from Vijaya Bank.


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