Apply for Personal Loans in Hyderabad
About Personal Loan
A personal loan is usually of a smaller amount than a mortgage and used for personal purposes, instead of commercial/business needs. It includes loans for reasons like going on vacation, wedding, buying of new furniture and various other needs that arise for an individual.
Looking to find out which bank is best for personal loan. With more and more personal loan agents in Hyderabad, it can be rather confusing to find out which deal matches your exact requirement. Logintoloans will help you fulfill your financial needs by arranging Personal Loans. We provide Personal Loan based on the factors that banks provide the best deal for your requirement.
We provide a platform that aggregated various types and categories of lenders to suit each requirement. We can’t say which bank is best for to get personal loan, it differs based on your requirement, eligibility, CIBIL Score, employment, salary and other factors. We help you do this through our interactive service which helps you compare and get the lowest interest rates for personalloan.
Features & Benefits
Why are personal loans a good idea ?
Personal loans can be the best financial aid for anyone who wants to have access to emergency funds to address multiple needs. Personal loans are unsecured in nature with minimum documentation and easy approval. Unlike other loans, small loans are not issued specific purpose. The lender allows you to use the loan for any purpose right from catering expenses related to life events to financing medical expenses. As these loans are unsecured, approval of the loan is subjected to your job stability and good credit score. As it said that, versatile needs can be addressed with these unsecured loans, the article enlightens few types of financial needs for which these quick loans can be the best choice.
Types of Personal Loans Available
All personal loans available in the market are unsecured. Know different types of personal loans.
Bad Credit Personal Loans
We provide personal loan services for people with bad credit, good credit and no credit.
The loan requirement of professionals and businessmen is increasing nowadays. Since personal loan is unsecured loan, each individual need assistance to get it easily. You can get a bad credit personal loan without guarantor, but you will have to give the lender your social terms security credit number to check your credit.
Business Start-up Loan
A business startup loan is any kind of financing aimed specifically towards startups with little to no business history. With this loan, you will enjoy a credit free period of 15 months and thereafter, you will be charged with the interest ranges from 7.9%19.9%.
Same Day Loans
If you need funds urgently for an unexpected expense, one potential solution that’s available in the India is to apply for same day loans.
Unemployed Personal Loans
If you need a personal loan and you’re currently unemployed we have a loan option for you that can support you until you sign your next W-2. But interest rates of these loans are too high.
Corporate Loan
Any business is driven by money during different stages of the cycle. Personal loans can be the best choice to address your business needs when you don’t have the luxury to wait for a long time about the approval of the loan. These loans turn to be the best option for the small business owner who lacks collateral to pledge.
Home Improvement Loan
Looking to give your Home a new look and convenience, Logintoloans provides Home Improvement. Loan Interest rates for these loans are from 9% to 12.5%.
Medical Loan
We will never know when uncertainties will hit the life. If you face any emergency when all your money for the month is exhausted, the unsecured personal loan can be a good choice. You will easy access to funds with instant approval with minimum documentation. All you need to have is a good credit score and job stability to fetch a loan.
Marriage Loan
Another good reason when a small loan becomes best choice is wedding events. A wedding is a lifetime celebration in the countries like India. The shortfall of money in such events may lead to disappointment and spoil the event too; quick loans can be the best choice to bridge the gap in such scenarios. Being occupied with the busy schedule, one can never go to the long processing needed by the bank as in the case of approval of other types of loans. Approval of these loans is very easy when you can show the lender stable income that enables you to repay the loan. There are even third party loan service providers to move your application to top of the pile.
Eligibility Check For Personal Loan
|
Requirement |
Salaried |
Self- employed |
|
Age |
21-60 years |
21-60 years |
|
Employment status |
Employment for two years/ employed with current employer |
In business since last 5 years |
|
Income range |
4000-20000(varies for different banks) |
250,000-10,0000(varies for different banks) |
|
Credit score |
CIBIL score 350 – 900 |
CIBIL score 350 - 900 |
|
Documents |
Salaried |
Self- employed |
|
Address proof |
Passport Copy/ Utility Bill (Electricity, Water)/ Rental Agreement/ Ration Card. |
|
|
Identity proof |
Voter ID/ Passport Copy/ Driving License/PAN card/ ID card issued by employer |
Voter ID/ Passport Copy/ Driving License/PAN card |
|
Income proof |
Latest pay slips from past three months, bank statements for 6 months, current salary certificate |
Form 16 and a copy of ITR for the last two years, |
|
Application |
Duly filled and signed application form |
Duley filled and signed application form |
|
Photographs |
2 copies |
2 copies |
|
Bank |
Interest rate |
Processing fee |
|
Capital first |
13% - 20% |
Up to 1.5% |
|
Bajaj |
11.49% - 16 % |
2.25% - 3% of the loan amount |
|
HDB |
16% |
1% - 2% of loan amount |
|
Ratnakar |
10.85% |
Applicable at the discretion of the bank |
|
SBI |
12.55%-17.65% |
1%-3% of the loan amount + applicable ServiceTax |
|
Axis bank |
15.50%-24% |
1.50%-2.00% of the loan amount + Service Tax, as applicable. |
|
ICICI Bank
|
11.49%-22.00% |
Upto 2.50% of the loan amount + ServiceTax,asapplicable |
|
Fullerton India |
17.25%-35% |
Upto 6.5% of the loan amount |
|
IndusInd Bank |
Upto 23% per annum |
Upto 2.5% of the loan amount |
|
Standard Chartered
|
Upto27% |
Upto 2.25% of the loan amount |
|
Kotak Bank |
11.50-24% |
Upto 2% + ST + Other levies |
|
HDFC Bank
|
11.29% to 20.00% |
Upto 2.5% of the loan amount, |
Flexible Financial Tool
Banks have no restrictions on the purpose which personal can be used. These loans offer great flexibility to the borrower. They can use the loan amount for anything like consolidation of debt, marriage expenses, and medical expenses and so on.
Quick Approval
These personal loans are approved quickly because they are unsecured. Few banks will approve the loan instantly and few take a maximum period of 72 hours for approval.
Improve Your Credit Usage Profile
Establishing a good credit history is important for many reasons. Your credit utilization affects 30% of your credit score. If you crossed your credit card limit to address some uncertain expenses, it is a good idea to avail a personal loan and pay off your credit bills. It not only keeps your credit score unaffected but also keeps you away from that revolving credit interest rates which oblige you to pay a high amount.
Less Documentation
As these loans are collateral free, you need to complete very little documentation when compared to other types of loans.