Personal Loans in Hyderabad

Personal loans are one of the most commonly used credit products in the market today. People use them for many different reasons including weddings, travel, medical expenses, emergencies, home down payments, home renovation, debt consolidation, credit card payoffs, etc.

While choosing a personal loan, it is very important for one to understand many different factors such as interest rate, processing fee, and pre-payment penalties. All of these vary from bank to bank. Hence, customers need to be careful while choosing a personal loan.

Over 50 leading banks and NBFC’s offer 5 Lakhs INR – 50 Lakhs INR in personal loans to qualifying customers without any securities and assets. Banks look at many different factors while sanctioning a loan. Some of the eligibility criteria include:-

  • CIBIL score
  • Salary
  • Company Name
  • Work Experience
  • Identity Documents

Hyderabad is the capital of Telangana. A city with rich history and tradition now competes with Chennai, Bangalore for the crown of India’s IT capital a city. Hyderabad is a major centre for the Pharma industries and Infotech while also being a centre for gems and jewellery. With increasing career opportunities and population growth, many leading banks and NBFC’s established operations across Hyderabad.

Personal Loan Providers in Hyderabad

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Basic Personal Loan Eligibility Criteria in Hyderabad

  • Employment Type – Salaried/Self-employed professionals/non-professionals.
  • Employment Status – Employed/In-business for at least 2 yrs, at least 1 yr with current employer/business.
  • Income – Minimum 15k net income per month.
  • Loan Amount – 50,00 to 50 Lakhs.
  • Age limit – 21 to 60 years.
  • Good CIBIL score: 350 to 900.

Personal Loan Interest Rates of Leading Banks and NBFC in Hyderabad

Banks & Financial InstitutionsInterest RatesProcessing Fee (Does not include GST)
Axis Bank11.25% - 24.00%1.5% - 2.0%
Bajaj Financial Services11.99% - 15.50%2.25% - 3%
Bank of Baroda11.60% - 16.60%2% (Min Rs. 250)
Bank of Maharashtra15.10% - 15.10%1.00% (Min. Rs. 1000)
Canara Bank13.65% - 13.65%1.00% - 2.5%
Citi Bank10.99% - 16.49%2% - 3%
Corporation Bank12.75% - 13.75%1.5% (Min Rs. 500)
Dena Bank13.00% - 14.00%1.00% - 2.5%
Federal Bank13.32% - 15.12%0.5% - 1%
HDFC Bank10.99% - 20.00%Rs. 1,000 - Rs. 30,000
ICICI Bank10.99% - 22.00%Up to 2.25%
IDBI Bank13.20% - 13.75%1% - 2%
IDFC Bank11.00% - 19.50%2% - 2.5%
IndusInd Bank11.99% - 23.00%Up to 2.50%
Kotak Bank11.50% - 24.00%Up to 2.50%
Punjab National Bank12.25% - 15.25%1% - 2%
RBL Bank13.99% - 16.00%Up to 2%
Standard Chartered Bank11.49% - 20.00%1% - 2%
State Bank of India12.50% - 16.60%2% - 3%
Syndicate Bank14.20% - 14.20%0.5% (Min Rs. 500)
Tata11.99% - 18.00%0.02
Union Bank of India14.40% - 14.40%0.50% (Min Rs. 500)
Vijaya Bank12.50% - 13.50%0.25% (Max Rs. 10000)
Yes Bank11.99% - 20.00%1.5% - 2.0%