Personal Loans in Hyderabad

  • Bajaj Finance
  • ICICI Bank
  • TATA Capital
  • INDUSIND Bank
  • FULLERTON
  • Shriram City Union
5.0 / 5 (5 Reviews)

Why apply through CreditMantri

Quick and easy approval for Personal Loans in Hyderabad CreditMantri matches your credit and demographic profile to lender's Personal Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you Personal Loans in Hyderabad, based on our proprietary matching algorithm.

In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Personal Loan in Hyderabad Hence the chances of your Personal Loan application getting approved is higher. We even try our best to help people with low CIBIL Score, get a Personal Loan in Hyderabad.

max tenure

5 yrs

processing fee

0.5%*

best rate

12.99%*

  • Maximum loan - 20 lakhs
  • Attractive Interest Rates
  • Quick and easy approval process
  • Balance transfer on existing personal loan
  • Interest rate - 12.99% to 23%
  • Processing fee - 0.50% to 2.50% of loan amount
  • KYC – ID proof, DOB Proof, Signature proof & Address proof
  • Bank Statements
  • Residence stability proof
  • Employment stability proof
  • Latest 3 month salary slips / Form-16 / Appointment letter

max tenure

5 yrs

processing fee

2.25%

best rate

14.75%

  • Maximum loan - 25 lakhs
  • 5-minute online personal loan approval and cash in bank in 72 hours
  • Interest rate - 12% to 15%
  • Processing fee - 2.25% to 3% of loan amount
  • Per bounced cheque - 1000/- and 2% penal interest per month
  • Secure fee - 999/- for instant approval online
  • Online application, Employee ID card
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport, Driver's license, Ration card, Mobile bill, Letter from employer
  • Signature proof (any one) - Passport, PAN, Driver's license, Photo credit card, Letter from bank verifying signature
  • Work experience documents - Appointment letter, Form 16, 1 yr old salary slip, same for previous employment

max tenure

5 yrs*

processing fee

999₹*

best rate

11.49%*

  • Maximum loan - 20 lakhs (salaried)
  • Maximum loan - 30 lakhs (self employed)
  • Fixed interest rate
  • Direct credit of the loan amount through Fund Transfer (FT)
  • Simple repayment options such as ECS, AD or PDC
  • Interest rate - 13% to 18%
  • Processing fee - Up to 2.5% of loan amount
  • Application form with 2 photographs , Processing fee cheque
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport,Utility bill, Lease agreement
  • Salaried - Salary slip for 3 months, bank statement with salary credit
  • Self employed - Office address proof, audited financials for last 2 yrs and latest 6 months balance sheet

max tenure

5 yrs*

processing fee

1500₹*

best rate

13.99%*

  • Maximum loan - 15 lakhs
  • Flexi EMIs with Higher Loan Eligibility
  • Minimum Documentation and Verification
  • Quick processing
  • Security or Guarantors not Required
  • Interest rate - 14.5% to 18%
  • Processing fee - 1% to 2% of loan amount
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID, Aadhar
  • Address proof (any one) - Passport, Driver's license, Voter ID, Ration card, Electricity bill, Rent agreement
  • Residence stability proof
  • Employment stability proof
  • Latest 3 month salary slips / Form-16 / Appointment letter

max tenure

4 yrs

processing fee

2%

best rate

17.25% *

  • Personal Loan up to 20 lacs.
  • Easy Repayment over 12 to 48 months.
  • Quick and easy approval process
  • Balance transfer of an existing Personal loan
  • Interest Rate: 17.25% onwards
  • Processing Fee: 2% onwards
  • Application form with a recent photograph
  • ID Proof - Passport Copy/ Voter ID card/ Driving License/ PAN Card
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License
  • Age proof - PAN Card, Passport, any other certificate from a statutory authority
  • Bank Statements (Bank statement / Bank Passbook for last 6 months) OR Last 3 months’ salary slip
  • Form 16
  • Income Tax Returns for last 3 years
  • Processing fee cheque
  • Previous 2 years’ experience letter without any gap (if current work experience < 1 year)

max tenure

3 years

processing fee

2000₹

best rate

28% p.a

  • Faster loan disbursal process
  • Simplified documentation process
  • Repayment through Equated Monthly Instalments
  • Interest rate - 28%
  • Processing fee - 2000₹
  • ID Proof(any one)- Aadhaar card/Pan card/Driving License/Passport/Voter ID
  • Address Proof(any one)-Aadhaar card/Driving License/Passport/Voter Id
  • Post-dated cheque (For 6/12 Months)

Personal Loan in Hyderabad

Do you live in Hyderabad? Are you looking for a personal loan in Hyderabad and wondering what your options are? Read on!

Personal Loans in Hyderabad

What is a personal loan?

A personal loan is an unsecured “all-purpose loan” which can be used for any legitimate purpose, such as funding your dream vacation, business expansion, remodeling your house, overcoming a crisis like sudden job loss, medical emergency, to purchase expensive consumer durables or to pursue an expensive hobby.

It is a “no-security, no guarantor loan”, meaning you primarily obtain this loan on the strength of your income and credit history. It means that you do not need to pledge collateral or offer asset of kind as security in order to avail the loan.

Key features of a Personal Loan:

  • Hassle-free loan
  • Easy documentation
  • Loan amount ranging from few thousands to several lakhs.
  • Spot Approvals and over-the-counter loans available with leading banks
  • Speedy Processing and disbursals
  • Loans for salaried & self-employed individuals.
  • Special loans for professionals like Lawyers, doctors, chartered accountants, etc.
  • Payment via EMI with tenure ranging from 12 to 60 months
  • No security/guarantor/collateral required
  • Competitive interest rates for those having good credit history
  • Facility to apply online with most of the lenders
  • Special offers for existing customers, like special rates and discounts

Disadvantages of a personal loan:

Personal loans are one of the costliest loans in the market with relatively high interest rates. The interest on a personal loan could go up to as high as 32% p.a. or even more, depending the severity of your credit situation. It is advisable to first pull out your credit report and check your credit score before applying for any kind of loan to avoid the chance of loan rejection or being subject to severe repayment terms.

Personal Loans in Hyderabad--Availability

All major banks offer personal loans in Hyderabad. Popular banks and NBFCs that offer personal loans in Hyderabad include: State Bank of Hyderabad, Standard Chartered Bank, Punjab National Bank, Canara Bank, Corporation Bank, Yes Bank, Deutsche Bank, Bank of India, SBI, Central Bank of India, Axis Bank, HDFC Bank, ICICI Bank, Shriram Finance, Bajaj Finance, Fullerton, IDBI Bank, Citibank, etc.

Personal loans in Hyderabad for salaried, self-employed and business people are available.

Personal Loan for CIBIL Defaulters in Hyderabad

Having a good CIBIL score is a pre-requisite in order to avail any kind of loan. If you are a CIBIL defaulter, it can get very difficult get any new credit.

You could perhaps approach a personal loan provider in Hyderabad that offers special loans for defaulters. Do keep in mind that if you are offered a loan under such circumstances, it will generally come with a high interest rate and other restrictions which might make your repayment a tad bit difficult.

Is it possible to get a personal loan in Hyderabad with bad credit?

The possibility of getting a personal loan with bad credit depends on the severity of your credit situation, and the relationship you share with your lender. In case your loan application is accepted even with a poor credit history, you might be offered unfavorable terms and conditions, like a high interest rate and high penalty for missing payments, etc.

It is always advisable to raise your credit score to a healthy 700 or above, so that you can avail a personal loan at reasonably good terms and interest rate.

Eligibility for Personal Loan in Hyderabad

  • Age criteria: The applicant should be between 21 years to 65 years (at the time of maturity of the loan).
  • Salaried, self-employed, and business professionals are eligible to apply. If you are not a regular wage earner, talk to your bank manager about your situation.
  • Minimum salary for salaried people is typically Rs. 15,000 though the salary requirement depends on what tier of city you live in and the company you work for.
  • Should be staying in the same address / city for at least 1 year
  • Total work experience should be at least 2 years
  • Should have a stable employment history.

You can check your eligibility for a personal loan in Hyderabad online, on the lender’s website.

Documents Required for Personal Loans in Hyderabad

For salaried / self-employed professionals:

Following are an overview of the documents generally asked while applying for a personal loan in Hyderabad:

  • Valid Identity Proof - Passport, Driving License, Voter ID Card, Aadhar Card, PAN Card (any one document to be submitted)
  • Valid Address Proof – Lease/Rent Agreement, Passport, Driving License, Ration Card, Utility bill (not more than 3 months old), Bank Statement
  • Income Proof Documents – Last 6 months salary slip and latest Form 16
  • Bank Statements: Past 6 months bank statement with salary credit
  • Continuity of employment proof, like offer letter, relieving letter, etc.

For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.

  • Degree Certificate / educational documents for self-employed professionals.
  • Proof of business existence
  • Last 3 years Income Tax returns (self and business)
  • Last 3 years Profit /Loss and Balance Sheet, duly attested by a CA
  • Any other documents as directed by the Bank or NBFC

Personal Loan in Hyderabad With Low Interest

Lenders usually offer a low interest rate to those who have a good credit history. The interest rate is dependent on variety of factors including the loan amount applied, credit score and history, existing loan obligations, the loan amount, employer profile, etc.

Personal Loan in Hyderabad FAQS

What is the minimum and maximum loan amount for salaried people?

The loan amount generally varies from a few thousands to lakhs of rupees. The final loan amount is at the discretion of your lender.

Do I have to pledge any collateral in order to secure a personal loan?

No collateral or security is required for obtaining a personal loan in Hyderabad.

How do I repay the loan?

You can repay the loan amount in convenient EMI (Equated Monthly Instalments).

What is an EMI?

EMI stands for Equated Monthly Installment and is the monthly amount you need to pay your lender towards servicing your personal loan—interest included.

I need urgent funds. How long will it take for my loan to be sanctioned?

Your loan may be approved in as little as 24 hours or may take up to 7 working days, based on your credit profile. The time taken to disburse personal loans varies from lender to lender. Generally, personal loans are processed faster.

What is the eligibility criteria for availing a personal loan?

The applicant must be salaried and must be ideally employed for a minimum of 1 year. In case of self-employed individuals, they must show continuity of employment for at least two years.

What is the age requirement for availing a personal loan?

The applicant should be a minimum of 18 years of age and a maximum of 65 years of age on the maturity of loan. This varies from lender to lender.

I already have an existing loan from another lender. Am I required to declare it?

Yes, if you have any existing loan commitments, then it is crucial to declare them.

How to apply for Personal loan in Hyderabad:

There are several ways to apply for a personal loan:

  • You can apply directly online at the bank / NBFC's website;
  • You can go in person to your nearest branch and apply with the required documentation

Need help? Alternatively, if you think you need help with your personal loan application and advice on loan eligibility, then CreditMantri can guide you through the whole process and match you with the loan offer that best suits your unique credit profile.