Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 33 Visakhapatnam Personal Loan
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    Interest Rate Range
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    Tenure Range
    10.99% - 16.49% Fixed
    0 Bankbazaar Exclusive
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
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    11.50% - 17.25% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    10.99% - 21.25% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    11% - 16% Fixed
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    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    11.00% - 18.25% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    10.99% - 18.15% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
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    10.99% - 14.49% Fixed
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    13.49% - 19.99% Fixed
    Up to 2%
    Upto 25L
    1-5 years
    Response Time : Within 30 minutes
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  • Visakhapatnam Personal Loan is Rated as "Great!" by 690 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 14 Aug 2018

    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 2018

    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
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      BANK BAZAAR is a good platform for all the financial products ,. The customer service and responses was very satisfactory . The mobile application is quite user friendly and easy to access.I have not faced any run time or down time error while using it.
      Was this review helpful? 3
      , visakhapatnam
      Reviewed on Aug 10, 2018
    • Early Salary Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with EARLY SALARY. The process was very good and it has taken a very less time here. The loan amount was 11,0000 and the interest rate was satisfactory. The tenure period was 1 month. Their customer service and responses was up to the mark. I had a smooth process and the loan was approved on time,.
      Was this review helpful? 2
      , visakhapatnam
      Reviewed on Aug 10, 2018
    • review Personal Loan
      "Satisfied with good personal loan"
      0.5 4.5/5 "Excellent!"
      I got personal loan and I am happy with process and the way they treated .One good thing is part payment, which allows us to pay extra amount with should be min of two emi's of our current loan . I am paying my EMI regularly and got some money which I payed as part payment in turn my tenure got decreased. I recommend people who are looking for loan check if part payment is available.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 23, 2018
    • Corporation Bank Personal Loan
      "Worst service"
      0.5 1.0/5 "Really Bad"
      I take personal loan in 2016, I cleared the loan in 2017november,after clearance of previous loan i wanted to take new personal loan,the manager also told me that we will give a new loan to you,I am ready with all the documents required for the loan,and submitted to bank, from november2017 still I go to bank thrice a week,but they didn't respond me.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 29, 2018
    • Bank Bazaar Personal Loan
      "Customer satisfaction website"
      0.5 4.0/5 "Great!"
      Everything is best in bankbazaar website. I have been using bankbazaar website for past 3 months. Through Google search, i come to know about the bankbazaar. I'm regular user of bankbazaar. I used to search the information of interest rate and other benefits of every products. It shows the status of the bank account and credit card balance. I can able to check the Gold, petrol prices. It is taking some time to update the details.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 28, 2018
    • Tata capital Personal Loan
      "Good to apply the loan in TATA capital compared to others"
      0.5 4.5/5 "Excellent!"
      I have applied the loan amount of Rs. 4 lakhs. They have charged me a interest of 12.25%. Their is no processing fee for this loan. I have taken the tenure period of 4 years. They are taking too much time to take the escalation part. It is minimum of 20 to 25 days to resolve the issue. The same thing happened thrice in customer care. I have a relationship executive for me.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 28, 2018
    • Bank Bazaar Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      Bankbazaar.com is good one and am using it from the last three months of time. Customer service is good one and the response is not yet experienced because I have not much dealt with them till now. There are no issues with them till now.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 28, 2018
    • HDFC Bank Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      Customer service is good one with the HDFC bank and I have not experienced much with them till now. I would like to say that the rate of interest was not aware from my end. Everything is better one with the HDFC bank and there are no issues on it.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 28, 2018
    • Bank Bazaar Personal Loan
      "Okay"
      0.5 2.5/5 "Just OK"
      Bankbazaar.com is okay one for me and am using it from the last two years of time. I would like to say that the customer service is okay one for me. I have not experienced their online portal too till now.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 27, 2018
    • Tata capital Personal Loan
      "Much scope for improvement"
      0.5 1.0/5 "Really Bad"
      Rate of interest is around 13% with the Tata capital limited and everything were good one too. I am really not happy with them and I would like to close the loan amount in foreclosure way and everything is better too with the Tata capital limited.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 27, 2018
    • Bank Bazaar Personal Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      I have recently started using the service of them and it had been a very good experience with them. I had been using the website of them and it had been easy in using it and there has not been any issues faced with them. Their customer support also had been helpful during the whole process.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 26, 2018
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      I had chosen to go with them since i already has been holding an account with them. The process in getting the loan has been easy and the loan amount which they have provided had been satisfactory as well. The interest rate with them had been a little high when compared with the other banks.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 26, 2018
    • Bank Bazaar Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I've been using the BankBazaar Platform for a while. The associates have Given valuable suggestions, response was also good. I tried to apply for loan from few banks, I got the loan via BankBazaar. I am so happy with the services of BankBazaar and the prompt response from the customer support team.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 25, 2018
    • Tata capital Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the Tata Capital. The experience in terms of the loan was very good. I got the loan with 10 days. Documentations was very good. There were no charges. Asked to reduce the interest rate, comparing to other banks they offer a competitive interest rate. Overall it was a very good experience.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 25, 2018
    • Bank Bazaar Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      Bankbazaar.com is good one and am using it from the February onward. I would like to say that the customer service is good one and the response is also good too. I am happy with the Bankbazaar.com till now.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2018
    • HDFC Bank Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      Interest rate is around 17.5% for the personal loan with the HDFC bank. I would like to say that the response is good one for me with them and the processing charges are on higher end like its around 7000 Rupees.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2018
    • Bank Bazaar Personal Loan
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      I am using Bankbazaar.com for the first time. I would like to say that the response is very excellent one and the customer service is also good too. Everything is better one with the Bankbazaar.com, also its better too with them.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 16, 2018
    • ICICI Bank Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      Customer service is fine one with the ICICI bank for the personal loan and the response is also good too. The loan amount got disbursed within three days of time, which really took some long time. Everything is better one with the ICICI bank.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 16, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The response is quite good from the bank bazaar team. I know bank bazaar for the past 1 year, I use the bank bazaar mobile application while applying fort the personal loan which is easy to use and user friendly. I would say I got good service from bank bazaar.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on May 18, 2018
    • HDFC Bank Personal Loan
      "Average service"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan from the HDFC bank within 5 to 6 days of time. The customer support service and the response is good from he HDFC bank. The required loan amount has been disbursed and I am satisfied with it. The rate of interest and the charges are high with the HDFC personal loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on May 18, 2018
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