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
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    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
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    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
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    Customer Reviews
    11.99% - 19.50% 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
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% 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
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) 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
    10.85% - 11.85% 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
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    Good to Know
    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% 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
    11.99% - 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
    17.25% - 37% 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
    11.49% - 20.15% Fixed
    Up to 2%
    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
    11.5% - 13.25% Fixed
    0 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
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar was fantastic and overall I had no issues with them. The website is good and it is easy to understand and follow. There were a lot of follow up calls which was helpful. It is a nice process to get to know banks without having to visit them.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 20, 2017
    • ICICI Bank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      Due to banking norms I have not taken the personal loan with ICICI Bank. The customer services are good and on time and I am happy with the overall services. The rate of interest and processing charges was normal and I was clearly informed about the status too.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 20, 2017
    • Bank Bazaar Customer Support
      "Satisfactory"
      0.5 4.0/5 "Great!"
      The services at Bankbazaar has been really good and the overall experience is nice. They were in touch with me on a regular basis. The website is also good and it is a nice process to simply register few details and get connected with the bank instantly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 20, 2017
    • ICICI Bank Personal Loan
      "High on ROI & charges"
      0.5 3.0/5 "Satisfactory"
      ICICI bank was not up to the mark in the response and customer services. It was a average experience. I did not take the personal loan as I did not have a cheque book, and since I changed the district recently for my job and I still use the same account I had earlier, I was unable to get the cheques on time. The interest rate was high, it was of 16.9% and the processing charges was of 2%.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 20, 2017
    • Axis Bank Personal Loan
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      Axis bank is the best for me as they are very responsive to a customer and they never let the customer down. I have taken a personal loan and I got the loan on time without me having to follow up. They also provided a good deal on the interest rate and charges.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2017
    • Citibank Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      Citibank has been excellent in the process for my personal loan. The customer services are good they are perfect in the communication. I got the loan as needed and as per my requirement. The interest rate and charges was a bit high, but am happy with the response.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2017
    • Bank Bazaar Customer Support
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      The response from Bankbazaar has been good and the overall experience was satisfactory. They were on time from the start to the finish. The website is also good and very much easy to use and understandable. In all I had no issues in getting connected with the banks.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2017
    • ICICI Bank Personal Loan
      "Not Satisfactory"
      0.5 1.0/5 "Really Bad"
      I received a call from ICICI bank only once after which I got no calls from them. It has not been a good experience for me and I do not wish to recommend them too. They should have acknowledged my details and checked about my requirement. Not sure on the interest rate and charges on the personal loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2017
    • Bajaj Finserv Personal Loan
      "Fast Service"
      0.5 4.5/5 "Excellent!"
      Bajaj finserv is very prompt for my personal loan. They had delivered very fast service. Their agents are very fast in all the formalities and they visited my place and helped me to get the address proof which I do not have. Since I am new to the place I do not know how to get the proof but Bajaj people helped me a lot and done with the process without any hassles.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 15, 2017
    • Bank Bazaar Customer Support
      "More Helpful"
      0.5 4.0/5 "Great!"
      Bankbazaar kept on following up on my loan application and they promptly followed up. The services are good. The website is easy to use and I had installed mobile app which is very useful and informative. They were supportive when I approached them for the same.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 15, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      I applied for the personal loan with ICICI bank but I did not take the loan because I had received very less rate of interest from Bajaj. Also I do not have address proof but Bajaj helped me to get the proof. But the responses are good with ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 15, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is good one and am using it from the last since two months of time. I am happy with the Bankbazaar.com , also the website is easy to access. Response is fast one with the Bankbazaar.com and they have contacted me on immediate basis.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 09, 2017
    • ICICI Bank Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      ICICI bank have closed my personal loan application because of some other reason. Customer service with the ICICI bank was good one and there were no suggestion to them. IN future, I would like to go ahead with the ICICI bank, if my loan gets approved.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 09, 2017
    • SBI Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I had closed the personal loan with the State bank of India and the interest rate was around 13% to 14%, which was not okay for me. Customer service is not really good as they are not providing proper response for the queries. But as far as the deposits are concerned it works really good.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 08, 2017
    • Bank Bazaar Customer Support
      "Good one"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is good one because any person can get the information about all the financial products. I am with the Bankbazaar.com from the last three months of time, also the response was very fast, which I really felt like they have contacted me in fraction of seconds.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 08, 2017
    • ICICI Bank Personal Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      Rate of interest for the personal loan with the ICICI bank was nominal one and the loan amount got disbursed to my account within two days of time. Processing charges were reasonable one. Customer service was good one with them and I did not observe anything negative with them till date.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 08, 2017
    • Bank Bazaar Customer Support
      "Satisfactory service"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is great in terms of providing response in every aspect with respect to the financial product. I had received a call back and a text message from bankbazaar team when I placed my request there. As far as the site is concerned it is very much easy to use and user friendly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 07, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 1.0/5 "Really Bad"
      ICICI Bank acknowledged my personal loan application and they gave a call back however their executives were not comfortable with my regional language therefore, I told them that I wanted a call back in my regional language later I had got a call back from them. My suggestion for them would be improvise their services with respect to all kind of financial products.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 07, 2017
    • Bank Bazaar Customer Support
      "I AM SATIFIED WITH YOUR WORK & SUGGESTION"
      0.5 5.0/5 "Blown Away!"
      Ok my problem was actually resolved and your bankbazaar executives have guided me better, also they have provided good suggestion for the people. Any body can use the services of bankbazaar. For the propreitor of bankbazaar really many thanks from the middle class people as it really worked out for me.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 06, 2017
    • HDFC Bank Personal Loan
      "Better Service"
      0.5 5.0/5 "Blown Away!"
      Recently I approached HDFC bank for the personal loan. I submitted my loan application to the bank. On the receipt of my application, they had contacted me and said that, due to the salary constrains they could not offer the personal loan. So I closed my application.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 03, 2017
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    Visakhapatnam Personal Loan is Rated as "Great!" by 523 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 22 Jun 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

    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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