Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Visakhapatnam Personal Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    Up to 2%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12.99% - 16.99% Fixed
    0 One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
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  • Visakhapatnam Personal Loan Reviews

    • Bank Bazaar Customer Support
      "Customer friendly site"
      0.5 4.5/5 "Excellent!"
      I am really happy with Bank Bazaar service, whatever the information they provided its good. They are helping me to get the personal loan but there was no response from bank end. I am very fine with the website has all information in one stop to check the banking products.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Response part should be improved"
      0.5 3.0/5 "Satisfactory"
      I got a call on initial stage from ICICI for my personal loan request , then there was no response. Then I tried reaching them but the number which I got call it was not reachable condition. ICICI should improve a response part to give better service to the customer.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 16, 2017
    • review Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have got a personal loan from Shriram city union finance 6 months ago. The customer service is very good with Shriram . The managers are very helpful to the customers in all the circumstances. The response which is given by shriram is very good and I am happy with it. The rate of interest is nominal with Shriram city union finance.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • Bajaj Finserv Personal Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      Through a channel partner I reached Bajaj finserv for my personal loan. They have disbursed my loan within a week time.The Bajaj finserv has approved me the loan for Rs.2lakhs and they are good in their response. The rate of interest is reasonable with Bajaj Finserv. They have also gave me bajaj card , with the card I have bough many household products. I am happy with the bajaj finserv service.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I get to know all type of products from the website called bank bazaar. I can check my credit scorer, rather I can choose the product by comparing with different kind of partner banks. The customer service is very good with bank bazaar. The website of bank bazaar is easy to use and user friendly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I received a call from ICICI bank in regards to my personal loan then they have asked my details and promised that they will give a call back , but I never received any call from them. The response need to be improved with ICICI bank. It would be great if ICICI bank gives good response on appropriate time. I got average service from ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • Bank Bazaar Customer Support
      "Informative "
      0.5 5.0/5 "Blown Away!"
      Always I am getting proper information from bankbazaar for my financial requirements. Whenever I approach bankbazaar, they are good in providing proper assistance and complete information. Even I did not find any difficulties in handling their website.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • ICICI Bank Personal Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      Actually I have an issues with my credit score so I did not provide a complete documents to the ICICI bank in order to continue the loan process. As expected, my personal loan application got closed by the ICICI bank. So I decided to take the loan once my score is increased.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • Bank Bazaar Customer Support
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      Perfect services rendered by bankbazaar. They were on time in contacting me and informing me the details and also followed up as well on a regular basis. The website is good and it is clear and it is simple to place a request and also to navigate through.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 09, 2017
    • ICICI Bank Personal Loan
      "No response"
      0.5 3.0/5 "Satisfactory"
      I could not proceed for the ICICI Bank personal loan as there was no response from the bank. I expected them to contact me after I submitted my information and it was not a good experience. There were no calls at all at least to acknowledge my details. I am giving a three stars, just incase if the bank called and I missed the call.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 09, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I visited bankbazaar website and applied for the loan online. They contacted me on my loan application and they provided a good service. Their website is useful to check the financial products and it is easy to apply for the loan online. They provided proper service throughout the process.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 03, 2017
    • HDFC Bank Personal Loan
      "High Interest rate"
      0.5 4.0/5 "Great!"
      As I have good credit score and other criteria I asked HDFC bank to quote the interest rate for the personal loan as 12%. Even I work in financial sector so I am aware of the process. But the bank quoted 16% which is really high. But due to emergency I had to accept the loan with the quoted interest rate. Customer service is better.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 03, 2017
    • Bank Bazaar Customer Support
      "Nice Service"
      0.5 4.5/5 "Excellent!"
      I had received proper followups and updates from bankbazaar. They provide a good financial service. Recently I sought their assistance in taking the personal loan. For the service, I got good response from them and they have good web portal to apply for the loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      Right from day one I had received a good response from ICICI bank on my personal loan request. ICICI was good in terms of customer service and responsiveness. I never faced any kind of issues with the bank but, I did not take the loan due to the personal issues.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Awesome response & service of bank bazaar.com"
      0.5 5.0/5 "Blown Away!"
      When I put a request for personal loan , I got very good response from Bank Bazaar, they have called and confirmed my requirements, and asked which bank I was looking for it and then Bank Bazaar helped me to process my loan with ICICI. I am happy with their service.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 15, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I got to know about bank bazaar through my friends referral and I am with bank bazaar for past 2 months. The bank bazaar web site and the mobile application is easy to user friendly. The customer service and the response is really good with bank bazaar,
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 12, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 3.0/5 "Satisfactory"
      ICICI bank executive gave a call in regards to my personal loan application and told they can come and collect the documents but no one turned up. The customer service and the response need to be improved. The rate of interest nominal with ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 12, 2017
    • Fullerton Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      Five years ago I had taken the personal loan from Fullerton. Interest rate is little more with them which is around 18%. Customer service is average. If there is no option to get the loan from any other banks, then we can approach Fullerton, for sure we will receive the loan with little more high interest rate.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 12, 2017
    • Bajaj Finserv Personal Loan
      "Fast Service"
      0.5 5.0/5 "Blown Away!"
      I took the personal loan from Bajaj Finserv. The interest rate is 15% for the personal loan. The bank is good and fast in process even their website is good to use. When I applied for the loan, they processed it well and sanctioned the loan on time without any delay.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 12, 2017
    • ICICI Bank Personal Loan
      "Good Bank"
      0.5 4.0/5 "Great!"
      Actually my loan track started from ICICI bank. This is the first bank for my loan. During the year of 2002, I had taken the personal loan. They offered the loan online and when I applied for that, they sanctioned the loan within one week to ten days. Again after 6 months, the bank approached me for the another loan. I got good service from ICICI.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 12, 2017
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    Visakhapatnam Personal Loan is Rated as "Great!" by 554 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Visakhapatnam, also known as “Vizag”, is a port city on the southeast coast of India in the state of Andhra Pradesh. It is often called "The Jewel of the East Coast" and the "City of Destiny". The city is home for various state owned heavy industries and a steel plants. Apart from accommodating various international information technologies and banking firms, the city is a hub for iron ore and other minerals which are exported to China and other countries. The fishing and real estate industry has seen a tremendous growth.The city has a population of over 1 million, is the second largest city in the state of Andhra Pradesh and the third largest city on the east coast of India. Visakhapatnam has been recognised as a Global City of the Future by McKinsey Quarterly.

    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.


    You’re probably eligible for an Visakhapatnam Personal Loan if you are

    01
    02
    03
    04
    Visakhapatnam Personal Loan Minimum Age

    At least 21 years old

    Visakhapatnam Personal Loan Maximum Age

    Less than 65 years old

    Visakhapatnam Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Visakhapatnam Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Visakhapatnam Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Visakhapatnam Personal Loan Minimum Salary

    Minimum income required
    Rs.17,500 per month

    Visakhapatnam Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 50K to Rs. 30 lakhs

    Visakhapatnam Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Visakhapatnam Personal Loan amount by these steps

    01
    02
    Visakhapatnam Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Visakhapatnam

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Visakhapatnam 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

    Visakhapatnam Personal Loan Interest RatesUpdated on 18 Aug 2017

    Visakhapatnam 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
    Apply for Personal Loan

    Personal Loans in Visakhapatnam

    Gone are the days when a person used to approach a friend or a private lender for funds if they faced a financial crisis. Personal loans are very popular among people today. Many reputable banks and financial institutions provide exciting offers on personal loans as it is one of the most sought-after financial products. Easy approval process makes personal loans all the more famous. People take personal loans for various reasons like wedding expenses, medical emergencies, investment, buying gold, or for children’s education.

    What is a personal loan?

    A personal loan is a kind of unsecured loan which means that the loan is not backed by a collateral. It is rolled out by a bank or a financial institution to a borrower. The borrower may use the loans for any purpose they deem necessary.

    Personal Loans offered by various Banks in Visakhapatnam

    Visakhapatnam is a port city in the state of Andhra Pradesh which is developing in all sectors. There are many reputable banks and financial institutions in Visakhapatnam. Some of the leading banks and financial institutions that offer personal loans in Visakhapatnam are:

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

    How do I get a personal loan with the lowest interest rate in Visakhapatnam?

    The interest rate is usually high for personal loans. In a long run, the lower the interest rate, the better. So, when you avail a personal loan, make sure you have a low interest rate as it will directly affect the EMI amount you are going to pay every month. The interest rate on your personal loan is determined by various factors. Before applying for a personal loan, you can make sure you have done the following things which will help you get a better interest rate on your loan:

    • Improve your credit score: The first thing a lender will see when you apply for a personal loan is your credit score. A credit score is a numerical expression that represents the creditworthiness of the borrower. Credit bureaus in India assign a credit score for every individual. The credit score is assigned based on your repayment history, your existing loans, and other factors. A credit score can range from 300 and 850. The higher the credit score, the higher your chances of getting a good deal on your personal loan. Before applying for a personal loan, make sure you know your credit score. If you do not have a decent credit score, make sure you close your existing loans if possible, clear your credit card bills, and avoid cheque bonuses and late payments.
    • Get a co-signer: Ask a friend or your family member who has a high credit score to co-sign on your personal loan. This makes the loan less risky for the lender and will result in lower interest rates for you.
    • Shop around for loans: Spend ample time to know more about the personal loans available in the market. Make sure you research for a maximum of 2 weeks period. When you shop for a long time, you might lose out on the best offers on personal loans.
    • Make a down payment: Please remember it is advisable to make high down payment. Making high down payment is sure to get a better interest rate on your loan. Anything more than 30% of your personal loan amount is a good down payment and will affect the interest rate positively.
    • Debt-to-income ratio: Debt-to-income ratio is the ratio of your total debt and you’re the sum total of your income. If you have a right debt to income ratio in your portfolio, banks will be willing to offer you a low interest rate on your personal loans.
    • Tenure of your personal loan: The tenure you choose while availing a personal loan affects the interest rate you get. The longer your loan term, the higher your interest rate. Please choose a short tenure period even if it increases your EMI amount.

    Personal Loan Interest rates in Visakhapatnam 2017

    Bank Interest Rate Range Type of interest rate Processing Fee Range Loan Amount Tenure
    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
    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

    Salary requirements to avail Personal Loans in Visakhapatnam

    The salary requirements vary from bank to bank when you apply for a personal loan in Visakhapatnam. Generally, the salary requirements are as follows:

    • For salaried individuals - Banks have a minimum salary requirement between Rs.7,500 and Rs.50,000 for salaried individuals.
    • Self-employed individuals - Those having their own business should provide proof of income and most banks have an income requirement of Rs.1 lakh to Rs.2 lakh (profit) annually.

    Visakhapatnam Personal Loan FAQs

    1. What are the documents required when I apply for a personal loan in Visakhapatnam?

      You would require the below documents to avail a personal loan in Visakhapatnam:

      • Photo ID proof
      • Age Proof
      • Duly filed application
      • Proof of residence
      • Last 6 months bank statement
      • Last 3 months’ salary slips
      • Form 16 or Income Tax Returns
    2. Can I foreclose or prepay my personal loan in the future?

      Yes. You can foreclose or prepay your personal loan in the future if your lender allows you to do so. Most lenders allow you to do that. Please check if there are any charges for foreclosing your loan.

    3. How long will it take for my personal loan to be approved?

      The approval time differs from bank to bank. Generally, personal loans are approved within 72 hours of submission of all documents.

    4. What is a personal loan EMI calculator?

      Personal loan EMI calculator is an online tool that helps you calculate the monthly instalments you will pay towards your personal loan. You can use the personal loan EMI calculator available on the BankBazaar website.

    5. Are there any additional charges for personal loans?

      You will have to pay the processing fee upfront when availing a loan. Apart from this, there are no additional charges unless a prepayment is made.


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