Personal Loan in Hyderabad – Easy Online Application & Quick Disbursal

Personal Loan in Hyderabad:

Hyderabad, the City of Pearls is a major Indian city today with a population reaching almost 10 million. Hyderabad is popularly referred to as Cyberabad for its booming IT industry and companies in IT, Software, and Technology Startups. Additionally, Hyderabad also has a booming pharmaceuticals industry. LoanSumo offers our services of personal loan in Hyderabad. Some of the areas of Hyderabad we serve are:

  • IT Corridor: Gachibowli, Hitech City, Madhapur, Kondapur
  • West Hyderabad: Jubilee Hills, Banjara Hills, Mehdipatnam, Attapur, Manikonda
  • Secunderabad: Tadbund, Begumpet, Secunderabad, Sainikpuri, Tarnaka
  • Business District: Punjagutta, Ameerpet, Koti, Abids,
  • Other areas: Dilshukh Nagar, LB Nagar, Old City, Uppal, Medchal

Instant Personal Loans

There are two main types of personal loans: Secured Loans and Unsecured Loans.

Secured Personal Loans

Secured Personal Loans are loans that have an underlying collateral or asset securing the loan in case of a default by the borrower. Some examples of Personal Loans with Security include Loans of Property and Gold Loans.

Unsecured Personal Loans:

The more common personal loans are unsecured personal loans. These loans are generally not backed by any asset or security. They are given on the basis of assessing customer risk based on borrower credit profile and salary.

Personal Loan Interest Rates  – Comparison:

While shopping for a personal loan, you might be looking for low interest rates. Here are some of the interest rates at some of the banks.

Bank

Interest Rate

Processing Fee

Tata Capital Personal Loan 11.99% Starts at Rs. 999 with upfront fees of 1.80%+ST+Edu Cess
ICICI Personal Loan 11.29%-22.00% Up to 2.50% of the total loan amount plus Service Tax, as applicable
Axis Bank Personal Loan 11.25%-24% 1.50% to 2.00% of the total loan amount plus Service Tax, as applicable
SBI Personal Loan 12.55%-17.65% 1% to 3% of the total loan amount plus Service Tax, as applicable
Bajaj Finserv Personal Loan 14.75% 2.25% to 3% of the total loan amount
Fullerton Personal Loan 14% Up to 6.5% of the total loan amount
IndusInd Personal Loan Starts at 11.49% Up to 2.5% of the total loan amount
Citibank Personal Loan 10.99% to 17.99% 0.50% to 3%
HDFC Personal Loan 11.29%-20% Up to 2.5% of the total loan amount, subject to 25,000 INR as maximum and 1,000 INR as the minimum
Kotak Personal Loan Starting at 11.29% Up to 2% plus ST and other levies
HSBC Personal Loan 11.99% Up to 2.5% of the amount of the disbursed loan
Bank of Baroda Personal Loan 11.35%-14.35% Rs.1,000 to Rs.10,000
Central Bank Personal Loan 11.50% Min Rs. 500
Dena Bank Personal Loan 13.00% – 14.00% 1.00% of the loan amount
Corporation Bank Personal Loan 12.75% – 13.75% 1.50% of the disbursed loan amount and subject to a minimum of Rs.500
UCO Bank Personal Loan 11.35% – 11.60% 1% or minimum Rs. 750)
Union Bank Personal Loan 14.40% 0.50% of the disbursed loan amount or a minimum of Rs. 500+service tax
Bank of India Personal Loan 12% – 14.5% Rs. 1,000 to 10,000 + S.T.
RBL Personal Loan 14% 3% of the disbursed loan amount
Allahabad Bank Personal Loan 13.10% 1.22% (minimum 1228)
Canara Bank Personal Loan 12.75% (Floating) Rs. 1,000 to Rs. 5,000
IDBI Personal Loan 12.45% (3 months MCLR plus 3.90%) 1% plus service tax
Bank of Maharashtra Personal Loan 12.75% 1.00% of the disbursed loan amount or Rs. 1000 minimum
Andhra Bank Personal Loan 13.05% – 14.30% Nominal
Yes Bank Personal Loan 11.49% Up to 2%
Syndicate Bank Personal Loan 14.20% p.a. 0.5% with minimum Rs.500 plus Service Tax
Vijaya Bank Personal Loan 12.5% – 13.5% 0.25% of the disbursed loan amount, a maximum of Rs. 10000 plus service tax
Indian Bank Personal Loan 12.65% – 13.65% Rs. 508 – 0.508%
Federal Bank Personal Loan 17.25%-35% Up to 6.5% of the disbursed loan amount
Capital First Personal Loan 12% Up to 1.5%
IDFC Personal Loan 11.50% Up to 1.5%

*Please remember that the figures provided here are subject to change depending on market fluctuations.

Instant Personal Loan Online – Documents Needed:

Some of the documents needed for a personal loan include:

  • Address Proof Copy
  • Proof of Employment
  • Copy of Aadhar Card
  • Last 3 months’ Salary Slips
  • PAN Card Copy
  • Bank Statement Documents for last 6 month

Personal Loan Lenders – Type of Lenders

LoanSumo offers personal loans from a range of different lenders with a wide range of interest rates and credit requirements. Based on the borrower profile, we selectively match the borrower to a lender. We offer instant personal loans in as little as 1 hour when there is a borrower-lender match. Some of the lending relationships we have included the below:

  • Public Banks (SBI, Bank of Baroda, etc)
  • Private Banks (HDFC, ICICI, Axis, Citi Bank, Yes Bank, RBL, IndusInd)
  • NBFC’s (Tata Capital, Capital First, InCred, etc)
  • Digital Lending Companies (FlexSalary, MoneyTap, etc)
  • P2P Lending Companies (FairCent, ATL, etc)
  • Private Finance Lenders across Hyderabad (Offer personal loans against cheque)

Online Personal Loans in Hyderabad

Most banks offer online personal loans to customers. However, big banks like SBI, HDFC, and ICICI still tend to use a lot of paper processing which might delay the loan agent processing, paper documentation, physical approvals, etc. However, there are also digital lending companies these days who offer loans in a much faster manner. Banks are also less willing to offer personal loans for people with bad credit. Unlike banks, some of the digital lenders also serve people with low CIBIL scores.