Apply for Personal Loans in Hyderabad
A personal loan is a small amount of money borrowed from, usually, a bank for personal use. The money borrowed may be used for multiple purposes like wedding, vacation, buying new furniture or any other immediate need. Most of the banks today provide a personal loan option. Personal loan interest rates and the loan amount varies from bank to bank and on the amount. A good personal loan calculator can provide this information in minutes.
Personal loans can help customers in getting emergency funds. These loans are unsecure and there is minimum documentation required for applying. The approvals for personal loans are also quite easy since there is no need for specifics of the requirement. Job security and good credit score play a crucial role in the approval of the personal loans.
With so many options available in the market, it can be overwhelming for you to assess which loan option is the best fit for you. The best option would for you would depend on your requirement, eligibility, CIBIL Score, employment, salary and other factors. At LogintoLoans you get the assistance to pick out the right loan option. We have interactive services that help you compare the personal loan interest rates and other benefits. With our services, you can secure good personal loans in Hyderabad.
Features & Benefits of Personal Loans
Types of Personal Loans Available
Comparison
LogintoLoans gives a detailed comparison of personal loan interest rates and processing fee for you to select your best personal loan option. Through interactive services, we provide personal loan calculator that can provide you details based on your requirement in no time.
More
Personal loans provide an easy approval access to money for a variety of purposes. It bears a lot of benefits to the users:
Reviews
Our work speaks volumes. Hear our clients talk about the ease with which we have provided personal loans to them for a variety of purposes. Our process provides personal loan calculator that helps in instant calculations of processing fees and interest rates.
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.