Personal Loan In Vijayawada

Getting a personal loan in Vijayawada is now super easy. Simply visit Urban Money's website, compare the best lenders and their rates, and choose the one that aligns perfectly with your preferences. Within a few hours, a representative from Urban Money will contact you regarding your selected lender. In essence, once you submit your loan application and the necessary documents, the funds will be credited into your account in less than 48 hours.

Vijayawada Personal Loan : An Overview

Vijayawada, a bustling commercial hub in Andhra Pradesh, proudly stands as one of the fastest-growing cities in India. Nowadays, this city is remarkably teeming with popular IT organisations, established business tycoons, and hosts numerous revered Hindu and Buddhist pilgrimage sites.

However, with so much happening in and around Vijayawada, it is not uncommon for individuals to face financial emergencies and deficits. To tackle such situations, people typically save a portion of their income and, most commonly, rely on personal loans as a solution.

Under any dire conditions, if you are a resident of Vijayawada in need of financial assistance, look no further than Urban Money for applying for an instant personal loan in Vijayawada. Let’s scroll down to understand the features, rates, application process, required documents, and eligibility criteria — or how to improve your eligibility criteria if you failed to meet the minimum requirements — about a personal loan in Vijayawada.

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Best Personal Loan Offers in Vijaywada - May 2024

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RBL Bank Personal Loan in Vijaywada starting at.

14% - 23%

karnataka bank Personal Loan in Vijaywada starting at.

12% - 17%

State Bank of India Personal Loan in Vijaywada starting at.


IDBI Bank Personal Loan in Vijaywada starting at.

11% - 15.5%

karur Vysya Bank Personal Loan in Vijaywada starting at.

11% - 14%

YES Bank Personal Loan in Vijaywada starting at.

10.99% - 20%

Kotak Bank Personal Loan in Vijaywada starting at.


HDFC Bank Personal Loan in Vijaywada starting at.

10.5% - 24%

ICICI Bank Personal Loan in Vijaywada starting at.

10.5% - 16%

Axis Bank Personal Loan in Vijaywada starting at.

10.49% - 22%

IDFC FIRST Bank Personal Loan in Vijaywada starting at.

10.49% - 36%

Federal Bank Personal Loan in Vijaywada starting at.

10.49% - 17.99%

Punjab National Bank Personal Loan in Vijaywada starting at.

10.4% - 16.95%

IndusInd Bank Personal Loan in Vijaywada starting at.

10.25% - 26%

HSBC Personal Loan in Vijaywada starting at.

9.99% - 16%

Personal Loan Features

Let’s take a look at the key features of personal loans in Vijayawada:

Multipurpose Loan

With a multi-purpose personal loan in Vijayawada, you have the ultimate freedom to use the funds at your discretion, including buying a car, consolidating debts, home renovation, travelling, and even purchasing gadgets and goods. The lender pays no heed to your loan's purpose, whether obtained from an NBFC or a bank in Vijayawada.

No Collateral/Security

You required zero collateral to secure an instant personal loan in Vijayawada. Yes, this borrower-friendly aspect holds true in almost every financial institution in India, eliminating the need for pledging valuable assets or providing any form of security against the loan amount. As a result, this allows you to acquire the necessary funds without jeopardising your assets.

Flexible Loan Amount

At personal loan Vijayawada, you can avail of a loan amount ranging up to Rs. 50 Lakhs. With this broad range of loan amounts, you can be confident that your financial goals will be supported, no matter how big they may be. However, the exact loan quantum will be determined by various factors, such as your credit score, income, and the lender's policies.

Competitive Interest Rates

Typically, a personal loan interest rate in Vijayawada starts from around 10%, making it a highly attractive choice. These interest rates are, in fact, among the lowest in the market, which means you can borrow money without being overly worried about paying too much interest. Hence, this advantageous scenario paves the way for substantial long-term savings, allowing you to retain a significant portion of your hard-earned money.

Flexible Repayment Terms

With a personal loan in Vijayawada, you can pick a repayment duration that fits your financial circumstances and objectives, which can typically extend up to five years or even longer. This outstanding feature allows you to adapt your loan EMIs with utmost flexibility, enabling you to mitigate the likelihood of default.

Quick Disbursal

Nowadays, securing a personal loan Vijayawada is a jiffy process — whether you decide to go with a personal loan NBFC in Vijayawada or prefer a bank. The entire process can be completed within a remarkably short timeframe of 1 to 2 business days. Additionally, certain lenders go the extra mile by offering doorstep service, ensuring a more streamlined and personalised process.

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Get a Personal Loan In Vijayawada with Fast Disbursement

Getting an instant personal loan in Madurai matters when you need urgent cash for an emergency or an opportunity. Hence, to help you opt for a desired loan amount on time, Urban Monely presents a list of tips you can follow to get a personal loan in Vijayawada faster:

Optimise Your Credit Score

Applicants with a high credit score are more likely to get approved faster than applicants with lower credit score. Moreover, maintaining a favourable credit score also helps you to secure a high loan amount with lower interest rates and favourable terms.

Compare Various Loan Offers

There are numerous lenders in Vijayawada, each having its own specific timeframe for loan approval, interest rates, eligibility requirements, and terms. Hence, it is prudent to compare multiple lenders via the Urban Money website; thereby, you can pinpoint the option that perfectly aligns with your preference in terms of timeframe and other pertinent factors such as interest rates, tenure, and terms.

Evaluate Eligibility Criteria

Make sure you meet all the eligibility requirements specified by your selected lender. These may include minimum income, age limits, credit score, and residential area. Not meeting these eligibility criteria can also cause delays in the loan approval process or, worse yet, lead to your loan application being rejected.

Gather Required Documents

Gather all the necessary documents ahead of time to simplify the loan application process. These documents could encompass proof of identity, address verification, income records, and bank statements. Being prepared with these documents will prevent any unexpected delays and ultimately speed up the application process.

Opt Digital/Online

Applying for a personal loan online via the official website of Urban Money can significantly expedite the loan approval process. Namely, choosing this handy online platform allows you to save valuable time and avoid unnecessary hassle, giving you the flexibility to complete the process anywhere and at any time.

Be Available

When the lender contacts you via phone or email with any inquiries or requests for additional documents, it's essential to be responsive and proactive. Hence, staying attentive during this phase is crucial, as it greatly speeds up the application process by maintaining timely communication and promptly providing the requested information throughout.

Personal Loan Interest Rates in Vijayawada

The personal loan interest rate in Vijayawada varies from lender to lender and is also influenced by the borrower’s demographic features such as location, age, income, employment, etc. However, hereunder, we provide a standard interest rate commonly followed by the leading lenders in Vijayawada. Let's continue scrolling for more information.


Interest Rate (p.a)


 10.50% onwards


9.50% onwards

Bank of India

9.10% onwards

IndusInd Bank

10.49% onwards


10.75% onwards

Kotak Mahindra

10.99% onwards

IDFC First Bank

10.49% onwards


11.00% onwards

TATA Capital

10.99% onwards

Bank of Baroda

10.10% onwards

Yes Bank

10.99% onwards

Standard Chartered

11.49% onwards

Central Bank

11.25% onwards

Union Bank

 12.60% onwards

Aditya Birla

14% onwards

Top Personal Loan Providers in Vijayawada

Here are the leading lenders who provide an instant personal loan in Vijayawada:

  • HDFC Bank
  • State Bank of India
  • ICICI Bank
  • Axis Bank
  • Kotak Mahindra Bank
  • Punjab National Bank
  • Bajaj Finserv
  • IndusInd Bank
  • Yes Bank
  • Tata Capital
  • Fullerton India
  • Navi Finserv
  • StashFin
  • Faircent

Eligibility Criteria for Personal Loans in Vijayawada

The common eligibility criteria for personal loan Vijayawada are as follows:

  • Be somewhere between 22 and 60 years old.
  • Have a minimum monthly income of Rs. 20,000.
  • Have at least one year of work experience.
  • Have a credit score of at least 700 or higher.
  • Be an Indian resident.

Document Required for Personal Loans in Vijayawada

In general, you can expect to provide some or all of the following documents when applying for a personal loan in Vijayawada:

  • Proof of Identity: PAN Card, Voter’s ID, Passport, or Driving Licence
  • Proof of Residence: Utility bill, Ration Card, Passport, or Property Tax
  • Proof of Income: Last 3 months of your salary slips and bank statements.

Personal Loan Application Process in Vijayawada

You can apply for an instant personal loan in Vijayawada online by following these simple steps.

  • Visit the official website of Urban Money.
  • Click on the “Loans” option and then select “Personal Loan” from the horizontal menu bar at the top of the homepage.
  • You will then be redirected to the personal loan page, where you can discover a variety of leading banks and NBFCs in India.
  • Scroll down and locate your desired lender.
  • Click the “Enquire Now” button.
  • A short display will be displayed on your screen.
  • Enter the required information and tap the “Submit” button.

Tips for Getting Approved for a Personal Loan in Vijayawada

Let's take a look at certain tips you can follow for getting an instant personal loan in Vijayawada:

Check your credit score

Your credit score plays a pivotal role in getting your loan application approved. A higher credit score reflects responsible repayment habits and significantly enhances your loan eligibility, often resulting in more favourable rates and terms. Notably, lenders consider a credit score of 700-750 or above as favourable.

Debt-To-Income Ratio

Your debt-to-income (DTI) ratio is, as it sounds, the percentage difference between your monthly debt payments and your monthly gross income. Lenders use this ratio to measure how likely you are to be able to pay all of your debts each month. The higher your DTI, the more harder it can be to secure fast loan approval. Hence, to expedite your approval, it is advisable to maintain your DTI below 40%.

Optimal Loan Amount

Applying for an excessively high or low loan amount can also impact your chance of approval. Hence, it is prudent to apply for the right loan amount that is eligible for you based on your income and financial circumstances. Notably, you can easily figure out the right loan amount you are eligible for using the Urban Money loan eligibility calculator.

Present All Your Income

In addition to your monthly salary, showcasing all your income sources (if applicable) matters tremendously. This may include various passive incomes such as investments, rental properties, side businesses, income-generating hobbies, etc. By doing so, lenders become more confident about your ability to repay the loan, ultimately increasing your chances of loan approval.

Provide Accurate Information/Documents:

Submit accurate, clear, and complete documents along with your loan application. Ensure that all the documents you have submitted match the information you provided on your loan application. Any false or incomplete document/information can cause delay or even lead to rejection.


However, in reality, obtaining a personal loan in Vijayawada may not be difficult, as numerous lenders are vying to proffer a variety of loan options. However, securing a loan with favourable rates and within a reasonable timeframe can be challenging. This is where Urban Money plays a crucial role. By using this online platform, you can easily compare leading lenders in Vijayawada, check your eligibility, and apply for the one that suits your requirements.

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

Typically, your personal loan gets approved within a few hours, and the loan amount will be disbursed within 1 – 2 business days after approval.

Can I get a personal loan with a bad credit score in Vijayawada?

It may be possible. Certain lenders are available in Vijayawada who offer personal loans to applicants with bad credit. Nevertheless, you may need to face high rates and unfavourable terms.

Can I prepay or foreclose a personal loan in Vijayawada?

Yes, you can repay/foreclose your personal loan. Notably, you may need to pay some additional amount as a penalty, while certain lenders do not levy any charges

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

A drop in your credit score, the imposition of penalties, and collection attempts. Moreover, if you continue to default, you may even need to face legal action under Section 420 of the Indian Penal Code.

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

Applying multiple loan applications in a short period of time may not be a good idea as it will negatively affect on your credit score.

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

Nearly every Vijayawada lender provides personal loans for self-employed individuals or freelancers. However, they may encounter somewhat different eligibility criteria compared to salaried individuals.

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

Yes, you can transfer your current personal loan to a different lender in Vijayawada.

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

Visit the bank with the required documents, fill out a form or write a pre-closure letter, and pay the balance. Once you have completed the process, remember to request a No Objection Certificate (NOC) document that you need to keep safely.

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