Personal Loan in Hyderabad

Many businesses, including IT, data science, civil engineering, dairy, electric vehicles, and others, are flourishing in Hyderabad today. People from all over the country have been drawn to the city because of its rapid growth and the increased job and business prospects. This explains why personal loans are so popular in Hyderabad. Despite the fact that Hyderabad has a large number of personal loan providers, there are some top financial institutions which offer rapid approval and hassle-free personal loans at competitive rates. To learn more, keep reading.

Get Instant Personal Loan in Hyderabad

Hyderabad, the capital of Telangana, is regarded as the centre of southeast Indian culture. There are numerous institutions there that provide personal loans with favourable terms and conditions. Hyderabad is the easiest place to find a personal loan because it is home to big institutions like Citibank, HDFC Bank, and others. It's simple because interest rates start at just 9.60%, and the terms last up to 6 years.

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Best Personal Loan Offers in Hyderabad - Jun 2024

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RBL Bank

RBL Bank Personal Loan in Hyderabad starting at.

14% - 23%

karnataka bank

karnataka bank Personal Loan in Hyderabad starting at.

12% - 17%

State Bank of India

State Bank of India Personal Loan in Hyderabad starting at.

11%

IDBI Bank

IDBI Bank Personal Loan in Hyderabad starting at.

11% - 15.5%

karur Vysya Bank

karur Vysya Bank Personal Loan in Hyderabad starting at.

11% - 14%

YES Bank

YES Bank Personal Loan in Hyderabad starting at.

10.99% - 20%

Kotak Bank

Kotak Bank Personal Loan in Hyderabad starting at.

10.99%

HDFC Bank

HDFC Bank Personal Loan in Hyderabad starting at.

10.5% - 24%

ICICI Bank

ICICI Bank Personal Loan in Hyderabad starting at.

10.5% - 16%

Axis Bank

Axis Bank Personal Loan in Hyderabad starting at.

10.49% - 22%

IDFC FIRST Bank

IDFC FIRST Bank Personal Loan in Hyderabad starting at.

10.49% - 36%

Federal Bank

Federal Bank Personal Loan in Hyderabad starting at.

10.49% - 17.99%

Punjab National Bank

Punjab National Bank Personal Loan in Hyderabad starting at.

10.4% - 16.95%

IndusInd Bank

IndusInd Bank Personal Loan in Hyderabad starting at.

10.25% - 26%

HSBC

HSBC Personal Loan in Hyderabad starting at.

9.99% - 16%

What are the Key Features of Personal Loans in Hyderabad?

There are many features of an instant personal loan; here are some of the major features:

  • Eligible Loan Amounts: Rs. 25000 to Rs. 25 Lakh
  • A quick and easy loan application
  • Minimal paperwork and quick processing
  • Flexible loan terms of one to five years
  • Loans with low-interest rates and a number of appealing characteristics
  • Low EMIs

Personal Loan EMI Calculator

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

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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.

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FAQs

How long does it take for a personal loan to be approved in Hyderabad?

In Hyderabad, it takes around two days to 15 days to approve a personal loan.

In Hyderabad, it takes around two days to 15 days to approve a personal loan.

No, one can not get a personal loan with a bad credit score in Hyderabad.

Can I prepay or foreclose a personal loan in Hyderabad?

Yes, one can easily prepay or foreclose a personal loan in Hyderabad.

What happens if I default on my personal loan in Hyderabad?

In Hyderabad, if someone defaults on a personal loan, they cannot be arrested but must pay back their debts. If the borrower has been in default on the personal loan for 180 days, the lender may take legal action against them under Section 138 of the Negotiable Instruments Act of 1881.

Can I apply for a personal loan from multiple lenders in Hyderabad?

Yes, one can apply for a personal loan from multiple lenders in Hyderabad.

Can self-employed individuals or freelancers apply for a personal loan in Hyderabad?

Yes, self-employed individuals or freelancers can apply for personal loans in Hyderabad.

Can I transfer my existing personal loan to another lender in Hyderabad?

Yes, one can transfer their existing personal loan to another lender in Hyderabad.

What is the process for closing a personal loan in Hyderabad?

In Hyderabad, a personal loan is closed by paying back the entire amount that was owed.

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