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
    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 Ad Paperless approval available
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    Customer Reviews
    10.99% - 19.8% 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
    13.99% - 16.99% 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
    What you'll love
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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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    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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    Perks
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    Fees & Charges
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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
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    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 612 Users

    Fees & Charges

    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 21 Oct 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
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is good and I would like to say that they have provided the best service. Its the good experience and the response is an excellent one with the Bankbazaar.com, also am happy with them.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 17, 2017
    • Bank Bazaar Personal Loan
      "Excellent product discriber"
      0.5 5.0/5 "Blown Away!"
      BB is the great website and application to provide quality credit score and their description. Here loan accounts information provides with good deals. Agents gives good info to process further. This is the best than other sites as per my feeling.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 15, 2017
    • Bank Bazaar Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      Bank bazaar is good with their service. They helped me to get the loan in a easiest process. It would be great if bank bazaar maintains the communication with the customers throughout process, because it would be very helpful to the customers. The website of bank bazaar is easy to use and user friendly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 12, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The ICICI bank executives didn't gave the proper explanation about the product. The loan documents were not disbursed yet. The customer service need to be improved with ICICI bank. The loan process nee to have the transparency. The rate of interest is nominal with ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 12, 2017
    • Karur Vysya Bank Personal Loan
      "Personal loan with KARUR VYSYA BANK"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from KARUR VYSYA BANK for 10 lakhs rupees.The rate of interest is 11% for 10 years.The monthly EMI comes around 15000.I got the approval with in 2 days with 3400 as processing fees.Documentation process also gone well without any lagging.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 09, 2017
    • Citibank Personal Loan
      "Approachable Bank"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from CITIBANK.The disbursed loan amount was 2.5 lakhs with 16 percentage of rate of interest.The interest rate will be diminishing if we are taking the loan for a long period.The tenure for the loan amount is 5 years with EMI 8900.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 09, 2017
    • Bank Bazaar Personal Loan
      "Approachable website"
      0.5 5.0/5 "Blown Away!"
      I came to know about Bankbazaar through Google. I have the mobile application of bankbazaar.The executives are very good and supportive. The website was really helpful and easy to navigate. We can find what ever we need. I would recommend bankbazaar to others.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 09, 2017
    • ICICI Bank Personal Loan
      "High rate of interest"
      0.5 3.0/5 "Satisfactory"
      I have requested for a personal loan with ICICI BANK the rate of interest is 16 percentage for 10 lakhs and i find it very high for that amount.Even I requested to reduce the rate of interest with the bank. But, they are not willing to reduce the interest rate.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 09, 2017
    • HDFC Bank Personal Loan
      "High interest rate"
      0.5 2.0/5 "Expected more"
      The rate of interest with the HDFC BANK was on the higher side.Even i negotiated with the bank to reduce the rate of interest. And they are not willing to reduce the rate of interest. So i thought not to take the loan from HDFC bank for now.I think they are not interested in holding the customers.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 08, 2017
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I find Bankbazaar very attractive in field of finance.I found bankbazaar through free search in Google. The comparison with other banks are really useful.Multiple options are available with bankbazaar.The customer service and response given was really satisfying.The website is also user friendly .
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 08, 2017
    • Bajaj Finserv Personal Loan
      "average service"
      0.5 3.5/5 "Pretty good"
      Service is good from BAJAJ as I got my personal loan from BAJAJ ,documentation part was fine and easy and customer service and other representatives are very helpful ,I can say the overall service is average from BAJAJ . No issue till now from BAJAJ.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 07, 2017
    • HDFC Bank Personal Loan
      "execellent"
      0.5 5.0/5 "Blown Away!"
      i have a hdfc personal loan for a period of 12 months,if i close before the tenure period am liable to pay foreclosure charges.their service is excellent.Net banking is user friendly and easy to navigate. I would definitely recommend this bank to others.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 06, 2017
    • Axis Bank Personal Loan
      "good"
      0.5 5.0/5 "Blown Away!"
      I took this personal loan from the AXIS Bank in the year of 2015 of rupees 2.25lakhs . The customer service received from the AXIS bank is good . I got a comfortable EMI amount option and also I had a option of pre closure and part payment was available and there were not extra charges for that . Over all I can say it was good .
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
    • Bank Bazaar Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar is an user friendly site, it has got the information about various financial products. customer executives are good,their service is excellent,really helpful to choose the right product. It is very easy to access and they give many offers as per eligibility. Keep it up!!
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 3.0/5 "Satisfactory"
      I applied for a personal loan with ICICI bank, online documents were uploaded and it was sent to the bank. I received my loan details like the tenure,EMI and rate of interest after sharing the details my application got rejected due to low salary criteria.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
    • HSBC Bank Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      With the HSBC bank, I have got the personal loan and the rate of interest is around 11.95%. I would like to say that the customer service is good one for me and the processing charges were very lesser one with them.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
    • HDFC Bank Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      I have taken the personal loan with the HDFC bank and the interest rate is around 15%, which is good one for me. The loan amount got disbursed within five working days of time. Response is also good one for me with them.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
    • Bank Bazaar Personal Loan
      "Could do better"
      0.5 3.0/5 "Satisfactory"
      Bankbazaar.com need to get improved. I would like to suggest that they could provide more better service, also I need the 100% commitment. I would like to say that the website of the Bankbazaar.com is easy to access.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have not got any calls from the ICICI bank for the personal loan, which I have applied. I would like to say that the customer service was not really good and I would like to suggest that they need to improve on it.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar customer service staff called me within a day. Customer service is good in Bank Bazaar. I'm yet to use the Bank Bazaar's website but one of my friend used it and he recommended me Bank Bazaar. I used Bank Bazaar's mobile application to apply this personal loan the mobile application is very easy to use and user friendly.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 04, 2017
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