Personal Loans in Vijayawada

  • 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 Vijayawada 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 Vijayawada, 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 Vijayawada 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 Vijayawada.

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 Vijayawada

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

Personal Loans in Vijayawada

What is a personal loan?

personal loans are unsecured loans which can come in handy during times of need. There is no requirement to pledge your assets or provide collateral to get a personal loan. Lenders look at your credit score and current income to evaluate your repayment capacity and decide whether you are creditworthy.

The end-use of a personal loan could be anything—it is not restricted and you could use the amount for any legitimate purpose. It can be used for personal expenses, or used as cashflow for your business as well.

However, it is important to note that personal loans are among the most expensive loans. They come with the highest interest rates since they are 'unsecured'. This is because the bank/NBFC has no safeguard in case of default. The interest rate on a personal loan could go up to as high as 32% or even more.

Key features of a Personal Loan:

  • Loans for salaried & self-employed individuals.
  • Simple documentation, and quick processing
  • Speedy approvals and disbursals
  • Over-the-counter loans subject to certain conditions
  • Flexible tenure—choose from tenures ranging from 1 to 5 years
  • No collateral, security or guarantor required
  • Special offers for Professionals
  • Facility to apply online with most of the lenders
  • Special offers for existing customers
  • Loan amount starting from a few thousands to many lakhs.

Personal Loans in Vijayawada—Availability

All major banks and NBFCs offer personal loans in Vijayawada. Popular banks and NBFC’s that offer personal loans in Vijayawada include: Vijaya Bank, HDFC Bank, Syndicate bank, Bank of India, Canara Bank, RBL Bank, , Oriental Bank of Commerce, Federal Bank, Indian Overseas Bank, CitiBank, IndusInd bank, Union Bank of India, Indian Bank, SBI, ICICI Bank, IDBI Bank, Standard Chartered Bank, Axis Bank, Bajaj Finance, Shriram Finance, Punjab National Bank, Fullerton, Sundaram Finance etc.

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

Personal Loan for CIBIL Defaulters in Vijayawada

If you are a CIBIL defaulter, it can get very difficult to avail any new credit. Start your journey towards healthy credit by making full payments towards all your overdue accounts.

If you are in urgent need of funds, you could perhaps approach a personal loan provider in Vijayawada that offers special loans for defaulters.

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

Generally, it is not impossible to avail a personal loan with bad credit, but the cost would be high in terms of interest rates. Hence, it is always advisable to increase your credit score to a healthy number, say 750 or above, so that you can avail a personal loan at reasonably good terms and interest rate.

Eligibility for Personal Loan in Vijayawada

  • 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 Vijayawada online, on the lender’s website.

Documents Required for Personal Loans in Vijayawada

For salaried / self-employed professionals:

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

  • 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 Vijayawada With Low Interest

To land the best deal on a personal loan, you need to make sure you have a healthy credit score. A score of 750 and above would qualify you for loan offers with the lower interest rate and additionally, you will be in a position to negotiate for the best rates. The interest rate on a personal loan is influenced by a variety of other factors, like your repayment record, net annual income, debt-to-income ratio, employment stability and most importantly, your credit history.

Personal Loan in Vijayawada 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 depending on various factors like income, credit score, borrowing history, employer profile, repayment capacity etc.

What is the interest rate charged on a personal loan?

The interest rate varies with each and every customer, largely depending their individual credit score and credit history as well as lender’s policies.

Are there any additional charges like processing fees, etc.?

Yes, you would be required to pay a processing fee which would be deducted from the amount disbursed to you. It generally varies from 0.50% to 3% of the loan amount.

What are the tenure ranges for a Personal Loan?

The tenure ranges from 1 year to 5 years. You can choose the option which is best suited to your needs and repay the loan in the stipulated time.

Can use a personal loan as a debt consolidation tool?

Yes, you can opt for a personal loan to consolidate your credit card debts, since a personal loan interest rate is generally lower than that of a credit card.

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 Vijayawada.

How to apply for Personal loan in Vijayawada:

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 documents

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 entire process and match you with the loan offer that best suits your unique credit profile.