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    Vijayawada Personal Loan

    When it comes to meet your sudden expenses, a personal loan is the greatest saviour. Personal loans in Vijaywada can be applied for by salaried and non-salaried individuals for various purposes like marriage, medical emergency, educational needs etc.

    We found 33 Vijayawada Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
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    11.49% - 18.25% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    Perks
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    Customer Reviews
    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    Eligibility Criteria
    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
    Rs.750 Amazon Voucher
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    Eligibility Criteria
    10.99% - 17.99% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
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    Customer Reviews
    10.99% - 21.25% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11% - 16% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Eligibility Criteria
    Customer Reviews
    10.99% - 18.15% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 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
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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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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    12.00% - 17.00% Fixed
    1%
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
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    Vijayawada Personal Loan is Rated as "Great!" by 560 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 22 Jan 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.

    Vijayawada Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      I would share a five stars for Bankbazaar as they were on time to respond to me and the process was also very fast. They also followed up in the process. The website is good and it is easy to use and understand. I had no hassles to know about the bank details.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jan 18, 2019
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken the personal loan from HDFC Bank. The process was good and I received the loan in a week. The loan amount provided was as required. The rate of interest is of 16% and there was a processing fee too. They need to work on the rates as they are higher than the other banks.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I've been using the Bank Bazaar website for a while. This was my first experience with bank bazaar . Their Customer support is good. I got the loan with in few days. The application process ans the documentation was easy and hassle free. I never had any problems with their services.
      Was this review helpful? 2
      , vijayawada
      Reviewed on Jan 17, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the HDFC bank. It was good, application process was smooth an hassle free.1 I got the loan amount with in a week. Their customer support reposes are also very good. The tenure period is 4 year. I use to pay my EMI on monthly basis . Loan amount is satisfactory .
      Was this review helpful? 1
      , vijayawada
      Reviewed on Jan 17, 2019
    • Bank Bazaar Personal Loan
      "Good Follow up"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar people supported me a lot till i have received the personal loan. They have done a follow up calls continuously. Its been 1 month since i have started using the bankbazaar. Through online search, i have come to know about this website.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jan 10, 2019
    • HDFC Bank Personal Loan
      "Very easy and accessible loan"
      0.5 4.0/5 "Great!"
      Since I'm having a salary account with HDFC hence i have chosen HDFC. Within 3 days i have received the loan. The documentation process is very easy. I have taken a loan amount of Rs. 6 lakhs and they have given me a interest rate of 13% and the processing was around 15 approximately. I have chosen the tenure period of 60 months.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jan 10, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar.com gave me good support, all the services are good,they call and intimated about the application. Recently I started using the application, the experience is really good. I came to the site through the promotion mail its fine.
      Was this review helpful? 3
      , vijayawada
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Charges should be reduced"
      0.5 5.0/5 "Blown Away!"
      The customer support is good, they gave good support, initially they told charges would be low, they finally they charged high for the amount of Rs.1.9 lakh, I think they taken Rs.2500 processing fee +7500 for some other charges. Finally I got Rs. 1.8 lakh in my hand.
      Was this review helpful? 2
      , vijayawada
      Reviewed on Dec 07, 2018
    • Bank Bazaar Personal Loan
      "Superb Website"
      0.5 5.0/5 "Blown Away!"
      From bankbazaar, i have purchased my personal loan and i'm very much happy about that. Mainly communication is very good and the customer care people are talking to the customer in polite manner. Process of getting loan from the bankbazaar is very good. I'm very much satisfied with bankbazaar.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Dec 07, 2018
    • Early Salary Personal Loan
      "Good loan "
      0.5 5.0/5 "Blown Away!"
      I have taken the loan amount of Rs. 12000 according to my salary. Within 2 days, i have received the amount in my account. I'm not sure about the interest rate but i have paid Rs. 600 extra along with the loan amount. I have a tenure upto 15th of December. Documentation process was good.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Dec 07, 2018
    • Bank Bazaar Personal Loan
      "One place where you find emergency needs"
      0.5 4.0/5 "Great!"
      The comparison like between different banks and my cibil score is updating every time. This is the first time i have used the website hence i am not aware of the other things. I have seen the different products which is available in the website. Through the messages and mails which is received from bankbazaar from that i come to know about this website.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Dec 05, 2018
    • Early Salary Personal Loan
      "Timely loan for emergency"
      0.5 4.0/5 "Great!"
      Charges are very nominal compared to other companies and the interest rate was okay. I have applied the loan amount of Rs. 5000 and i have received the loan within 1.5 hours. This is the online process i have been submitted and no documents has been collected by anyone. I have linked my SBI account with them. Since this is a nominal amount, i have chosen 1 month as a tenure period.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Dec 05, 2018
    • Bank Bazaar Personal Loan
      "Excellent website"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is a very good website. I have received a marketing mail regarding the offers from bankbazaar and i have clicked on the link and it took me to through bankbazaar website. Last 3 months i have been utilizing the benefits. I have checked my credit score by using the bankbazaar website.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Dec 04, 2018
    • HDFC Bank Personal Loan
      "Excellent loan experience"
      0.5 5.0/5 "Blown Away!"
      HDFC experience is very good. There is no reason for choosing the personal loan with HDFC. I have applied the loan amount of Rs. 1.84 lakhs and i have received the same. They have offered me a interest rate of 15%. I have taken a top up loan. Processing fee was low which is 2500. I have been paying the EMI of Rs. 5300 and i make the payment through online.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Dec 04, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar service is excellent i have using this service from past one year and i have applied credit card from this bank bazaar i didn't face any issue yet and the process went smoothly only i am using website and mobile application both are good only so i could say a best service.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Nov 14, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with ICICI bank recently, the loan amount they have given me was not sufficient , they have given me up to 1,00,000 i had expected more and the rate of interest they have charged me up to 15.7% it is nominal and they processing fee they have charge me up to 3000 it is little high and there was a bit delay in the loan.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Its good"
      0.5 3.5/5 "Pretty good"
      They are responding good but the process has to be little more quicker. I came to know about bank bazaar through Google search. The website is good and used first time for my personal loan . I would suggest them to provide a status update regularly.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Nov 13, 2018
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      The rate of interest was quite high in ICICI when compared to other banks. They have charged processing fee. They have taken 20 days for the loan disbursal. I have submitted the documents online and hard copy was submitted to the executive. I opt the loan for 2 years. The premium of around 6010 rupees through ECS.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Nov 13, 2018
    • Axis Bank Personal Loan
      "Interest rate should be nominal"
      0.5 3.0/5 "Satisfactory"
      From axis bank I have taken Rs.3 lakhs, they charged 22% of interest it was very huge and also they taken processing fee around Rs. 6000 from the disbursement. For the top up loan they charging high interest, I am not happy with the interest rate hence I switched over to HDFC.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Nov 12, 2018
    • Bank Bazaar Personal Loan
      "Happy Service provider"
      0.5 4.0/5 "Great!"
      I got immediate response from the day one, when I approach Bank Bazaar website for the personal loan, I got spontaneous response from their end. They gave me all the information whatever I have requested them. Therefore I am happy with their service.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Nov 12, 2018
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