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

    One of the biggest and most commercial cities in Andhra Pradesh, Vijayawada has plenty of banks that offer personal loan services at competitive interest rates. With banks like Citibank, HDFC Bank, ICICI Bank and many other top-profile names, residents of Vijayawada have plenty of options to choose from when looking for personal loans. With low interest rates, flexible repayment tenures and hassle-free documentation.
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    We found 33 Vijayawada 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
    Response Time : Within 30 minutes
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    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
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    20% - 22%  Fixed
    2.50%
    2L Max
    1-3 Years
    Response Time : Within 30 minutes
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    Response Time : Within 30 minutes
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    11.25% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.25% - 19.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    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
    Response Time : Within 30 minutes
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.25% - 22.00% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    Vijayawada Personal Loan is Rated as "Great!" by 616 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Vijayawada is a commercial city in the Krishna district of Andhra Pradesh, and the third largest after Hyderabad and Visakhapatnam. The city is also popularly known by its historic name Bezawada.It is one of the busiest railway junctions in India and the second biggest bus terminus in Asia. This City is the commercial capital of the State and is politically active, socially dominant, and agriculturally rich and is an industrial transportation hub.The GDP of Vijayawada for 2008 was estimated at INR 5526 crores, INR 18,000 (US $3 billion) crore in 2010. The GDP is projected to grow to (US $17 billion) INR 1, 02, 000 crore by the year 2025.

    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 Vijayawada 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

    Vijayawada Personal Loan Interest RatesUpdated on 19 Jun 2019

    Vijayawada 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 Loans in Vijayawada

    Personal loan also known as unsecured loan is a type of loan that is availed by a borrower from a bank or a financial institution to meet their personal expenses. Customers avail personal loans to pay for wedding-related expenses, pursue further education, clear off existing debts, or to help a loved one who is in a financial crisis. Personal loans attract high interest rate as unlike a home loan or a car loan, a personal loan is not backed by a collateral. In the bank’s eyes, a personal loan is risky as the only way to collect the funds back from the customer is to expect that they pay the agreed EMI on time.

    EMI stands for Equated Monthly Instalments. This is the amount that a borrower agrees to pay to the lender towards the repayment of the loan taken. The EMI amount is calculated by dividing the total loan amount taken by the borrower, plus charges if any, and the total interest payable by the number of months the loan is taken for.

    Personal Loans offered by various banks in Vijayawada

    There are many leading banks that offer personal loans in Vijayawada. Some of the banks and financial institutions are:

    • Fullerton
    • Oriental Bank
    • HDFC Bank
    • IndusInd
    • Bank of India
    • Dena Bank
    • Central Bank
    • IDBI Bank
    • Vijaya Bank
    • Yes Bank
    • Kotak Mahindra
    • Aditya Birla
    • Kotak Bank
    • Allahabad Bank
    • Bank of Baroda
    • Citibank
    • Standard Chartered Bank
    • Capital First
    • Tata Capital
    • HDBFS
    • ICICI Bank

    How do I get a Personal Loan with the lowest interest rate in Vijayawada?

    The interest rate that you pay on your personal loan is decided by the lender. Although the decision is taken by the lender, there are few things a borrowers can do to ensure they get low interest rates. Some of the steps you can take to avail a personal loan with low interest rate are:

    Employer-bank relationship: When you are applying for a personal loan, please check if your employer is tied-up with any bank. Usually, employers request banks to roll out offers on a personal loan for their employees.

    Display creditworthiness: Creditworthiness depends on the credit history of the borrower. If the borrower has paid their bills on time without defaulting in the past, they will be considered to be credit-worthy is the bank’s eyes. To display your creditworthiness, please pay your bills on time, do not default on your loans, and don’t use your credit card to the brim.

    Shop online: Most people approach the bank they are transacting with if they are in need of a personal loan. However, if you want to avail a personal loan at the lowest interest rate, shop online. When you compare various personal loans online, you will get to know about the best deal available for you in the market. Many third-party websites like BankBazaar allows you to compare various personal loans available in the market.

    Check for pre-approved loans: From time to time, banks give pre-approved personal loans to their customers. As the name suggests pre-approved loans mean that the bank has already approved the loan for you and all you have to do is to apply for it. As these kind of loans is given to selected account holders, banks give exciting discount on the interest rate.

    Reduce your debts: When you submit a loan application to the bank, they check if you have any existing debts. Try to avoid huge debts when applying for a personal loan. Make sure you have a good debt-to-income ratio. Debt-to-income ratio indicates the total amount of debt you have and the income you earn. Always make sure that you have less than 10% of your income as debt. The lesser the debt, the better.

    Personal Loan Interest rates in Vijayawada 2018

    Bank Interest Rate Range Type of interest rate Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.59% to 18.49% Fixed 2.25% (min of Rs.1,149) Up to Rs.20 lakhs Up to 5 years
    Oriental Bank 10.85% to 11.85% Floating 0.5% Rs.50,000 to Rs.10 lakh Up to 5 years
    HDFC Bank 11.49% to 19.8% Fixed Up to 2.5% Up to Rs.25 lakhs Up to 5 years
    IndusInd 11.99% to 19% Fixed Up to Rs.3,000 Up to Rs.25 lakhs Up to 5 years
    Fullerton 17.25% to 37% Fixed 1.5% to 6% Up to Rs.15 lakhs Up to 4 years
    Kotak Mahindra Bank 11.49% to 20.15% Fixed Up to 2% Up to Rs.15 lakhs Up to 5 years
    Aditya Birla 11.5% to 13.25% Fixed Up to 2% Up to Rs.15 lakhs Up to 5 years
    Allahabad Bank 13.10% Fixed Up to 1.22% (Min of Rs.1,228) From Rs.50,000 to Rs.7.5 lakhs Up to 5 years
    Bank of Baroda 11.35% to 14.35% Fixed Rs.1,000 to Rs.10,000 Rs.20,000 to Rs.2 lakhs Up to 4 years
    Bank of India 13% to 14% Fixed Rs.1,000 to Rs.10,000 Rs.10,000 to Rs.5 lakhs Up to 3 years
    Citibank 10.99% to 15.99% Fixed 1% to 25% Up to Rs.30 lakhs Up to 5 years
    Standard Chartered Bank 11.25% to 14.49% Fixed Nil Up to Rs.30 lakhs Up to 5 years
    Capital First 12% to 18% Fixed Up to 15% Up to rs.15 lakhs Up to 5 years
    Tata Capital 11.99% to 19.50% Fixed Nil Up to Rs.20 lakhs Up to 6 years
    HDBFS 13.99% to 16.99% Fixed 1% to 2% Rs.1 lakh to Rs.5 lakhs Up to 5 years

    Salary requirements to avail Personal Loans in Vijayawada

    The income requirements to avail a personal loan in Vijayawada depends on the bank that you are availing the loan from. Generally, the salary requirements are as follows:

    • For salaried individuals - The minimum salary requirements for salaried individuals will range from Rs.7,500 and Rs.50,000 for salaried individuals.
    • Self-employed individuals - For people who are self-employed, the profit range should be between Rs.1 lakh to Rs.2 lakh (profit) annually.

    Vijayawada Personal Loan FAQs

    1. What is the best interest rate I will get on my personal loan?

      Currently, the lowest interest rate one can get on their personal loan in Vijayawada is 10.85% p.a. Please note that the interest rate keep changing from time to time. The best interest rate on a personal loan can be anywhere between 10% p.a to 12% p.a.

    2. Should I pay a penalty if I choose to prepay the personal loan earlier that agreed?

      Banks may charge you a prepayment fee if you close the personal loan before the agreed loan term. However, the prepayment rules differ from one bank to another. Please check with your lender about prepayment options.

    3. Can I apply for a personal loan if I’m unemployed for the last 8 months?

      Usually, banks ask you to submit last 6 months bank statements and 3 months’ salary slip to approve your personal loan. You may not qualify for a personal loan if you do not have a regular source of income.

    4. What is the best way to apply for a personal loan?

      You can apply for a personal loan in any one of the following ways:

      • Online
      • In person at the bank
      • By calling the bank’s customer care department
    5. What is the tenure for which I can avail a personal loan?

      Generally, the tenure for a personal loan ranges from 12 months to 60 months.

        

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    Vijayawada Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Good Site"
      0.5 5.0/5 "Blown Away!"
      I am very impressed with Bank Bazaar customer centric and they resolved my loan queries on time. On the initial stage I got to know the site through online, the site is very easy to compare the loan products, I am very happy with the service part.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Apr 20, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      My HDFC Bank personal loan experience was good, within 10 days they have sanctioned the loan for the amount of Rs. 1.50 lakh it has the duration of three years. I believe they have taken Rs. 4500 as a processing fee. There is a foreclosure option to close my loan earlier,
      Was this review helpful? 1
      , vijayawada
      Reviewed on Apr 20, 2019
    • Bank Bazaar Personal Loan
      "Good in all"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is good overall and the customer services and response is good. The website is also good and it is easy to understand and place my request. There are follow up calls as well and it has been a good experience with out any issues to get information.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Apr 17, 2019
    • HDFC Bank Personal Loan
      "No hassles"
      0.5 4.0/5 "Great!"
      It was a very nice and fast process with HDFC Bank for the personal loan. I got the loan in two days. The loan was as per my request. The rate of interest and processing charges is nominal too. I am pretty happy that the loan was timely done and I had no hassles.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 17, 2019
    • HDFC Bank Personal Loan
      "Not satified"
      0.5 1.0/5 "Really Bad"
      My personal loan was taken with HDFC bank , I took loan thrice previously i had no proper,but the third time i applied their customer care service was not up to the mark,i was paying emi payment through my salary account,but due to some issue,i directly go to branch i paid it directly,though i pay in branch my payment got bounce, like for 21 times it got bounce, from that bank no one took initiative to call me and inform me regarding this,and no proper guideline was given to me,i took loan for 4,62,000 overall all,the rate of interest they said me was less up to 14.5% even processing fee was less,but for 21 times it got bounce i need to pay 3000 as penalty charges.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 09, 2019
    • HDFC Bank Personal Loan
      "Service not up to the mark"
      0.5 1.0/5 "Really Bad"
      I applied for HDFC personal loan for 2,65,000 the loan amount was sufficient,but i am not happy with the service,as the service was not that good,they do not give proper information related to that financial product,they customer care service response i felt was rude to me.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 09, 2019
    • HDFC Bank Personal Loan
      "Not satisfactory service"
      0.5 1.0/5 "Really Bad"
      I hold previously HDFC bank for my personal loan,The loan amount which they have given to me was sufficient like they gave me up to 1,42,000 which was sufficient,and the rate of interest they have given me up to 17.24% at starting,but i am not happy with their customer support team ,they do not response me well.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 09, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The bank bazaar service i felt is good so far,like they have given me good service,they time to time has done follow up with me,and even they use to give good response . I came to know about their service through on line. I have been downloaded mobile application,it is easy to access.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Apr 09, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I applied for Kotak mahindra bank personal loan recently.The loan amount they have given me was sufficient,they have given me up to 8,50,000 as loan amount,and the rate of interest they have charged me up to 12.25 % which was sufficient for me,and the processing fee they have charged me up to .5% on loan amount,like they have charged me up to 6800 as processing fee,which i felt was high.The loan was on time.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 09, 2019
    • Bank Bazaar Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I got a call from the executive because I used to checked my credit score on bankbazaar.com. Its useful and they have provided me a good opportunity. Am using it for past 6months and am more convenient with mobile app. The process is easy to get any financial product.
      Was this review helpful? 2
      , vijayawada
      Reviewed on Mar 31, 2019
    • Early Salary Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      The customer service and response was very good with Early Salary. The loan amount was sufficient to me, they have given me a limit of 80,000 rupees and have repaid it. The rate of interest was reasonable and there is a processing fee which was minimum.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Mar 31, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The best thing i felt in bank bazaar is that they have given me good service,and even their response is very fast,they have help me in getting my loan soon,the process they made simple,and i came to know about bank bazaar service through on line,it has been approx 1 year and above I had been avialing the services of Bankbazaar.com.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Mar 27, 2019
    • Early Salary Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for 1,30,000 for loan through Early salary,The loan amount which they have given me was not good,they have just given me up to 43,000 for three months,and the rate of interest they have charged me was hight they have charged me up to 21% which was high,and even they have given me processing fee which is nominal,and the loan was on time,and the documentation part i do not want to give hard copy i uploaded in portal .
      Was this review helpful? 1
      , vijayawada
      Reviewed on Mar 27, 2019
    • YES Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Yes bank has given me a personal loan and my experience is not that much good. I am not satisfied with the loan amount provided. I needed 2.70 Lakh but I got only 2.61 Lakh. 9k was deducted as processing fee and the rate of interested is high. My tenure is for three years. It has been a one month, I have taken this loan. The customer service is good .
      Was this review helpful? 0
      , vijayawada
      Reviewed on Mar 25, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I know Bankbazaar for approximately a year. Though the customer service is good, it would have been better if I was provided with more bank options who offer a bigger loan amount. It would have been more useful to me. The portal is good and I am able to check my credit score, in fact my score is emailed to me for free on a monthly basis. I know about the portal online. I use the mobile application.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Mar 25, 2019
    • Early Salary Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I took personal loan with early salary my experience is not so much good , I was taken only rs-10k but I want much amount and I paid 10350k and when I was taken loan I got one code I opened that code and I got discount 150r . I am not satisfied with rate of interested and process charge and still now they didâ??t came to take my document ya agreement I submitted on line.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Mar 25, 2019
    • Early Salary Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Personal Loan Ealry Salary .when i am getting money it is instant .I have quickly got the loan and quickly repaying the amount .The agent clearly explained the process.The rate of interest was noimnal and the processing fee was also nominal.I have not faced any issues on documents submission.I have uploaded the documents through the link.The loan amount was sufficient and i got the loan amount of Rs.15000.The Overall Service is Good.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Mar 23, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I came to know about Bank bazaar through online only .when I checked for credit score and refered friends and also got the details though social media .Accordin to me few people not aware of credit score so they need to get the information about that they should also get the awareness and will give Bank bazaar good business .Then i have applied for Personal Loan Early Salary .I have not faced any difficulties.The Loan amount was sufficient and the loan got on time .Getting money is instant got loan loan quickly and can repay it quickly as well.The Overall Sevice is Good.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Mar 23, 2019
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have got the Personal Loan directly from HDFC Bank .It is a Pre-Approved loan .The rate of interest was high and the processing fee is high as well .It took 2 days time to get the loan to be sanctioned .Since have Hdfc Salary account for the past 18yrs .There was no issues on document submission as well.The Loan amount was sufficient and not yet faced any issues.The Overall Service is Good.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Mar 23, 2019
    • Tata capital Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have met Tata Capital Agent and applied for Tata Capital Personal Loan.The agent clearly explained the process .The rate of interest was nominal and the processing fee was nominal .The loan amount was sufficient as well .I have applied for the loan amount of 3 lakhs for the tenure of 3 years. While submitting the documents also not yet faced any issues.The Overall Service is Good .
      Was this review helpful? 0
      , vijayawada
      Reviewed on Mar 23, 2019
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