Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 32 Visakhapatnam Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 14.49% Fixed
    0 to ₹1,180
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    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 available
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    Customer Reviews
    10.99% - 20.70% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Paperless approval available
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    Customer Reviews
    12.99% - 12.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
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    10.99% - 17.99% Fixed
    2.25% (min. ₹1,499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
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    Customer Reviews
    13.49% - 19.99% Fixed
    Up to 2%
    Upto 25L
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
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    Eligibility Criteria
    10.65% - 11.65% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time : Within 30 minutes
    Guarantor Required Paperless approval available
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    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
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    Eligibility Criteria
    10.99% - 15.99% Fixed
    Up to 0.5%
    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
    Customer Reviews
    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
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    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
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    Eligibility Criteria
    12% - 19% Fixed
    Up to 3% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
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  • Visakhapatnam Personal Loan is Rated as "Great!" by 640 Users

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    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    Visakhapatnam Personal Loan

    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 23 Nov 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.


    Check For Latest: Gold Rate in Visakhapatnam Or Silver Rate in Visakhapatnam

    Visakhapatnam Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience with bankbazaar so far, they provide very good services when compared to all other sources in the market. Customer service from bankbazaar was good and their response was prompt. I use both mobile application and website, it is easy to use and is user friendly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 20, 2017
    • HDFC Bank Personal Loan
      "Needs to improve"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from HDFC bank, my loan application was closed because there was no proper follow up after the application was submitted. I have changed the company recently so they said they will check and let me know whether the company is listed or not. Customer service was good but they did not respond on time. I am not aware of the rate of interest.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 20, 2017
    • Bank Bazaar Personal Loan
      "My Experience"
      0.5 5.0/5 "Blown Away!"
      Overall service was excellent with bank bazaar. I know bank bazaar for more than a year. I used bank bazaar website to apply for the personal loan, it was easy to use and user friendly with bank bazaar. I would say bank bazaar gives good service to the customers.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 16, 2017
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      Good response by provided by customers and taking care about approvals and loans. The credit rating was good and i'm little bit unhappy with ur Englidh reps. They should improve their communication by talking in telugu or other languages too. bcoz not all of them are educated.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 16, 2017
    • Bank Bazaar Personal Loan
      "One Stop Financial solution"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is really quick in processing your financial requirement.Loans,credit cards,insurance .best part is that you can compare the quotes of different bank's and choose the best.You will save lot of time.I definitely recommend this to everyone.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 14, 2017
    • SBI Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The response was not up to the mark with State bank of India. I got the personal loan from State bank around 6 years ago, the customer support haven't gave proper response in regards to my personal loan application. They took around 2 months to disburse my loan amount, they took very longer time to disburse my loan amount. The rate of interest and the charges are nominal with Sbi personal loans.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 11, 2017
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I started using bank bazaar for past 6months. I used bank bazaar mobile application which gives very quick and fast response. The information which is given in bank bazaar website is very informative and it is useful. The mobile application is very easy to use and user friendly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 11, 2017
    • Fullerton Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The Fullerton service was good in my personal loan disbursement but their interest is very high when compared with others. The customer support is good with Fullerton. I t would be great if they can reduce their interest rate. The service was good from Fullerton.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 11, 2017
    • Bank Bazaar Personal Loan
      "Personal loan"
      0.5 5.0/5 "Blown Away!"
      Great service..Instant response from executive relaxed me and I got all the links regarding uploading of documents , truelly it's awesome service and verification of documentation ..Hope will help me in future for further issues.thnku
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 11, 2017
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I got a experience with the BAJAJ FINSERV personal loan around 3 years ago, The rate of interest was very high with BAJAJ FINSERV when compared with others. The customer support is average with BAJAJ FINSERV. We can't expect immediate response from BAJAJ finserv.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 10, 2017
    • HDFC Bank Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      Within a day time I got the personal loan amount from HDFC bank. I have applied personal loan with the help of my credit card. It was a pre approved loan and I am satisfied with the loan amount. The rate of interest and the charges are very low when compared with others.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 10, 2017
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have downloaded the bank bazaar mobile application around 3months ago and I have applied personal loan via bank bazaar mobile application , which is easy to use and user friendly. I got the loan with very easy way. The response part was excellent with bank bazaar and bank partner.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 10, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The service was good with ICICI bank personal loan concern. They took around a week time to disburse my loan amount. The required loan amount has been disbursed and I am satisfied with it. The rate of interest and the charges are nominal with ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 10, 2017
    • HDFC Bank Personal Loan
      "My first loan"
      0.5 4.0/5 "Great!"
      This was my very first Loan and was delighted to get the money in tricky place I was in. The amount of Rs. 2 Lakhs was offered pretty swiftly, the whole process took very less time to happen. The money got disbursed very quickly. The rate of interest of 15% is a lot more when compared to the market standards.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 31, 2017
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I am having the bank bazaar website for more than 6months. The customer support was good with bank bazaar team, they gave immediate response to the customers, The website of bank bazaar is easy to use and customer friendly, I would say I got good service from bank bazaar team.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 31, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I haven't got the personal loan with ICICI bank because the loan amount which they were about to offer was low when compared with others. The customer support was good with ICICI bank. The rate of interest and the charges are nominal with ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 31, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      The interest rate if low with HDFC bank in personal loans. I got the personal loan with HDFC around a year. The customer support is good with HDFC bank. The required loan amount has been disbursed and I am satisfied with it. I would say I got good service from HDFC bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 28, 2017
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Bank bazaar support is excellent, they give good response to the customers, the follow ups are prompt with bank bazaar. I know bank bazaar for past 6months. I use the bank bazaar mobile application which is easy to use and customer friendly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 28, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The interest rate is high with ICICI bank, I was in plan to get the personal loan with the interest 11% but ICICI told that they can approve the personal loan with 16.5% , so that was the reason I haven't got the loan with ICICI bank. The customer support is average with ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 28, 2017
    • SBI Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from State Bank of India and the bank acknowledged my details and provided me the loan without any hassles. The interest rate and processing charges are good as well. It was a very convenient process and the after loan services are good too.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 26, 2017
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