Personal Loan in Hyderabad

Interest Rates and Charges for Personal Loans in Hyderabad:

Personal loan interest rates and charges can vary among different banks. Below is a list of major banks, along with their respective interest rates and charges:

CitiBank

• Interest Rate Range: 9.99% – 16.49% (Fixed)
• Processing Fee Range: 1% to 2.5%

Kotak Mahindra Bank

• Interest Rate: 10.25% onwards (Fixed)
• Processing Fee: Up to 2.5%

Fullerton

• Interest Rate Range: 11.99% – 36%
• Processing Fee: Between 0%-6% of the loan amount

Bank of Baroda

• Interest Rate Range: 10.50% – 12.50%
• Processing Fee: 2% of the loan amount + GST (Rs.1,000 to Rs.10,000 one-time fee)

State Bank of India

• Interest Rate Range: 9.60% – 15.65%
• Processing Fee: Up to 1.50% of the loan amount (one-time fee

Aditya Birla

• Interest Rate Range: 14% – 26% (Fixed)
• Processing Fee: Up to 2% of the loan amount

Yes Bank

 

• Interest Rate: 10.99% onwards (Fixed)
• Processing Fee: Up to 2.5% (one-time fee)

Top Lenders Offering Personal Loans in Hyderabad:

Here are some of the top banks providing the best personal loan offers in Hyderabad:

• Bajaj Finance
• Axis Bank
• Pay Sense Partner
• Fibe (Early Salary)
• CASHe
• Kreditbee
• Fullerton India
• Muthoot Finance
• YES Bank
• mPokket
• IIFL
• InCred

Eligibility Criteria for a Personal Loan in Hyderabad:

To apply for a personal loan in Hyderabad, applicants should meet these criteria:

• Age: Minimum 21 to Maximum 60 years
• Credit Score: Minimum 700
• Income: Minimum monthly income of Rs. 15,000
• Work Experience: Salaried – at least 6 or 12 months at the same employer, Self-Employed – at least 3 years in business with 3-year ITR.

Documents Required for Getting a Personal Loan:

To apply for a personal loan in Hyderabad, the following documents are required:

• ID Verification: Passport, Voter ID card, Aadhaar card, PAN card, etc.
• Address Proof: Aadhaar Cards, Voter Cards, Passports, Driver’s Licenses, Utility Bills, Rent Agreements, etc.
• Proof of Income: Recent pay stubs, income return certificate, or Form 16.

Application Process and Approval Timeline:

Applying for a personal loan in Hyderabad can be done online on the bank’s website or by visiting the branch. Approval timelines typically range from 2 to 15 days, depending on credit history and document submission.

Tips for Choosing the Right Personal Loan:

When selecting a personal loan in Hyderabad, consider the following tips:

• Assess your financial needs
• Research potential lenders
• Compare interest rates and charges
• Evaluate loan terms and tenure flexibility
• Check eligibility criteria
• Explore online lenders
• Seek expert advice

In conclusion, carefully analyze your financial needs and various aspects of loan offers before making a decision.