Instant Online Personal Loan in Vijaywada
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How it Works!
Quikkloan made the effortless process for the customers. Apply Personal Loan Online, Compare the best personal loan offer from the various Banks & NBF, upload the documents online, get disbursal in 24Hrs.
Eligibility Criteria
Salaried Individuals between 21 to 58 years, Minimum Net Monthly Salary of Rs. 20,000 and Employed for at least 1-2 years
Get ready with Documents
PAN & Aadhaar Card, Latest 3 month Bank statement, Two latest salary slip / latest Form 16, Cancelled Cheque
Get Disbursal in 1 Day*
Personal Loan up to 25 Lakh, Instant approval and Fast Disbursal through Partnered Banks / NBFC, No Collateral and Minimum Documentation
Top Banks
Offering Lowest Personal Loan Interest Rates in Kochi
|
Lenders |
Interest Rates |
Loan Amount |
Tenure |
Processing Fee |
Apply Online |
|
SBI |
9.60% to 13.60% per annum |
Up to 15 Lakh |
Up to 5 Years |
Nil – 1% of the Loan Amount + GST |
|
|
ICICI |
11.25% to 22.00% per annum |
Up to 20 Lakh |
Up to 5 Years |
Up to 2.25% of loan amount+GST |
|
|
HDFC |
10.75% to 21.30% per annum |
Up to 15 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount |
|
|
Axis Bank |
12%-24% per annum |
Up to 15 Lakh |
Up to 5 Years |
As applicable by the bank |
|
|
Kotak Bank |
10.99%-24% per annum |
Up to Rs.15 Lakh |
Up to 5 Years |
Upto 2.50% of loan amount + GST |
|
|
YES Bank |
10.99% per annum |
Up to Rs.40 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount +GST |
|
|
Tata Capital |
10.99% per annum |
Up to Rs.25 Lakh |
Up to 6 Years |
Up to 2.50% of the loan amount+GST |
|
|
IDFC Bank |
As applicable by the bank |
Up to Rs.25 Lakh |
Up to 5 Years |
3.50% of the loan amount |
|
|
IndusInd Bank |
11.25% per annum |
Up to Rs.15 Lakh |
Up to 5 Years |
Up to 2.50% of the loan amount+GST |
|
|
DCB Bank |
10.22% per annum (one year MCLR) |
Up to Rs.5 Lakh |
Up to 5 Years |
2% of the loan amount+GST |
|
|
Bajaj Finserv |
12.99% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 4.13% of the loan amount+GST |
|
|
Aditya Birla Finance |
14%-26% per annum |
Up to Rs.50 Lakh |
Up to 5 Years |
Up to 2% of the loan amount+GST |
|
|
IIFL |
16% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 2% of the loan amount+GST |
|
|
HDB Financials |
Up to 36% per annum |
Up to Rs.20 Lakh |
Up to 5 Years |
Up to 2 % of the loan amount |
|
|
Fullerton India |
12.99%-36% per annum |
Up to Rs.25 Lakh |
Up to 5 Years |
Up to 3% of the loan amount |
Apply Now |
Personal Loan Eligibility in Kochi
|
Eligibility Criteria |
Salaried |
Self-employed |
|
Minimum Age |
21 |
24 |
|
Maximum Age |
58 |
65 |
|
Minimum Income |
Rs.35,000 monthly |
Rs.2 lakh(annual) |
|
Credit/Cibil Score |
Above 750(out of 900) |
Above 750(out of 900) |
|
Minimum Job/Business Stability |
1-2 Years |
2-3 Years |
|
Minimum Work/Business Experience |
1-2 Years |
3 Years |
|
Minimum Profit After Tax |
NA |
Rs.1-2 lakh(annual) |
Personal Loan In Kochi At A Glance
|
Particulars |
Details |
|
Interest Rates |
Starting at 10.99% per annum |
|
Loan Amount |
From Rs 1,00,000-Rs.25,00,000 |
|
Tenure |
Up to 5 Years |
|
Processing Fee |
1.50%-2.50% of the loan amount+GST |
|
Minimum Monthly Income |
Rs.35,000 |
|
Cibil Score |
Above 750 (out of 900) |
|
Prepayment/Foreclosure Charges |
2%-6% of the principal outstanding +GST |
Personal Loan in Kochi?
A personal loan is a short-term loan which could be used for any legitimate purpose. You won’t be required to pledge any form of collateral or security. It can be used to meet immediate personal expenses with instant approval and disbursal of the loan amount. A personal loan has several advantages including relatively simple documentation, flexible loan tenures and no restrictions on how you use the money.
This loan comes in handy to meet multiple needs such as:
- Medical Emergencies
- Wedding Expenses
- Debt Consolidation
- Home Renovation/Extension
- Higher Education
- Travelling Expenses
- Purchasing High End Consumer Durables Value
How to Apply for Personal Loan in kochi?
In just a few simple and quick steps, you would be able to apply online for the unsecured loans in Vijaywada. The online process is fast as well as easy which means a borrower can apply for the same without any hassle. You simply need to follow a few steps such as:
Steps to Apply for Personal Loan in madhurai
Step 1: Fill Loan Query Form
Step 2: Get the Quotes
Step 3: Submit the Required Documents
Step 4: Get Instant Approval & Disbursal
CIBIL Score Required for Personal Loan in Kochi
For an instant cash loan in Vijaywada, a cibil score of 750 or above is required. Individuals need to have such a score to avoid personal loan rejection. A good score is an indication of good history which means a lender can trust the borrower as far as repayment is concerned. Also, a personal loan being an unsecured loan needs to be given based on the credit history of a borrower. And, a good score is an indication of that. Thus, your score should be healthy and in a good state.
Minimum Salary Required to Avail Personal Loan in Kochi
Rs.35,000 is the minimum monthly income that an individual should have to enjoy a hassle-free loan journey. With such a monthly income, you would be able to repay the loan easily as less chances would be of default. Yes, the higher income you have, the better it is for you as your monthly expenses can easily be managed. Thus, extra funds you have in order to repay your loan.
Personal Loan EMI Calculator
Use a personal loan EMI calculator and know the exact values of your monthly installments in a hassle-free manner. The device functions very quickly and lets you know the accurate values of EMIs, Interest Outgo and Total Amount Payable. You simply need to feed:
- Loan Amount
- Tenure
- Interest Rate
And soon after you enter these credentials into the calculator, the calculations will be right in front of you. In just a few minutes, the device starts functioning hence gives you the accurate values so that you can take a calculative decision for personal loan in Vijaywada.
Let’s take the help of an example and try to understand the calculations below.
Suppose, an individual has taken a loan of Rs.12 lakh at an interest rate of 15.40% per annum for a tenure of 5 years. Let’s see the calculations below.
Table Showing EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
|
Loan Amount (in Rs.) |
Interest Rate(per annum) |
Tenure (in Years) |
EMI (in Rs.) |
Total Interest Amount(in Rs.) |
Total Amount=Principal +Interest (in Rs.) |
|
12,00,000 |
15.40% |
1 |
1,08,537 |
1,02,439 |
13,02,439 |
|
12,00,000 |
15.40% |
2 |
58,412 |
2,01,895 |
14,01,895 |
|
12,00,000 |
15.40% |
3 |
41,834 |
3,06,018 |
15,06,018 |
|
12,00,000 |
15.40% |
4 |
33,641 |
4,14,754 |
16,14,754 |
|
12,00,000 |
15.40% |
5 |
28,800 |
5,28,030 |
17,28,030 |
Table Showing Principal, Interest and Balance Amount
|
Year |
Principal (in Rs.) |
Interest(in Rs.) |
Balance Amount(in Rs.) |
|
1 |
1,72,655 |
1,72,950 |
10,27,344 |
|
2 |
2,01,204 |
1,44,402 |
8,26,139 |
|
3 |
2,34,473 |
1,11,133 |
5,91,666 |
|
4 |
2,73,243 |
72,363 |
3,18,423 |
|
5 |
3,18,788 |
27,183 |
0 |
Personal Loan Fee & Charges
There are certain charges that an applicant needs to bear while availing the loan. Charges like processing fee is payable at the time of availing the loan, which is a non-refundable and a one-time fee. While prepayment and part payment would also be levied if a borrower opts for the same. Do check these charges from your lender before finalizing the loan deal.
Apply for Personal Loan in Vijaywada
Vijaywada is situated on the banks of Krishna River. It is the major commercial city in Andhra Pradesh. The city is endowed with the best schools and colleges. Infrastructure wise it is blessed with the thermal power plant. The city has derived its name from a deity named Kanakdurga also called Vijaya. The colossal statue of the Buddha and Museum of the Archaeological Department have become a tourist attraction for several years. And, if we talk about finance, the city has a list of renowned banks and NBFCs catering to the diverse needs of all. And, amongst all financial products, personal loan is always in demand. Yes, because of its easy availability, plenty of amazing features such as quick approval and fastest disbursal, this unsecured loan meets the instant financial needs of the Vijaywada people.
And, when it comes to availing a personal loan, you can easily avail it online. Yes, with the online presence of many reputed digital lenders, getting a personal loan is not a hassle. And, to help in fulfilling your financial needs Fintechs like Quikkloan is always there. You can trust the company as far as availing a loan is concerned and because of their fastest approval and quickest disbursal process you can have a smooth personal loan journey.
Feature & Benefit Of Personal Loan
The Best feature and benefit Of a Personal loan
Competitive Interest Rates: Your best personal loan in Vijaywada comes with many perks such as attractive interest rates. Yes, with lowest personal loan interest rates expect to have a reduced personal loan burden.
Speedy Approval & Disbursal: With instant personal loan comes the privilege of speedy approval and fastest disbursal. A personal loan comes to you quickly meeting your varied financial needs.
Easy Process: The online applying process is really easy and simple. You just need to follow a few steps and you are done. The process gets completed in the least time frame hence it is that simple.
Complete Credit Assessment: A complete credit assessment helps in the process, such as making your credit profile worthy enough to enjoy a hassle-free personal loan journey. The assessment includes a thorough study of the profile hence helps in meeting the right borrower to the right lender.
Flexible Loan Repayment Tenures: An online personal loan in Vijaywada allows you to enjoy flexible loan repayments tenures. Yes, with a tenure range between 1 year to 5 years, it would be easy for a borrower to repay his personal loan.
Minimal Fees & Charges: The best thing about your personal loan is that it comes with minimal fee and charges. That’s Right! A borrower doesn’t need to pay much for availing a personal loan. The process includes a certain fee and charges which are minimal hence a reduced personal loan burden.
Fewer Documentation: Want to have an easy personal loan in Vijaywada, make sure your documents are complete. With a complete list of documents, it would be easy for you to enjoy a hassle-free personal loan journey. With just a few KYC documents, you can apply online for an uninterrupted process.
Documents Required For Personal Loan
Mentioned are the personal loan documents for salaried and self-employed.
Complete Online Application
Fillup the Online loan Application in just 2 minutes
Provide Identity Proof
Voter id/ Passport/ Driving License / Aadhaar Card
Address Proof
Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card
Bank Statement
Latest 3 Months Bank Statement or Passbook
Income Proof
For Salaried – Latest 3-month Salary Slip
For Self Employed – ITR and Current Bank Statement of 3 months
Frequently Questions
How Much Personal Loan Can I Get in Vijaywada?
You can get a personal loan ranging from Rs.1,00,000-Rs.25,00,000, depending on your personal loan eligibility. However, some lenders also offer a maximum loan amount of up to Rs.25-30 lakhs after taking into the consideration factors like: income, repayment capacity, credit score, etc.
How Early I Can Get a Personal Loan?
Usually, a personal loan can be disbursed within 5-7 working days, in case of medical emergency, it can be disbursed quickly.
What is the Tenure for a Personal Loan?
A borrower can choose to repay the loan in 1-5 Years, depending upon his/her needs.
What is a Processing Fee and How Much Banks Charge on a Personal Loan?
A processing fee is a one-time, non-refundable fee, charged by the banks at the time of availing a loan. Banks usually charge a processing fee of up to 2%-2.50% of the loan amount+GST.
Are There Any Additional Charges for Personal Loan?
Yes, only when you opt for it. Yes, charges like prepayment and part prepayment are applicable if you opt for the same later.
PrePayment/Foreclosure: In case you want to pre-close your personal loan before the set tenure/repayment schedule, you need to bear the charges for the same. For Prepayment/foreclosure, lenders charge 2%-6% of the principal outstanding+GST. One can opt for this facility, after 9 or 12 months of EMIs payments.
PartPayment: A borrower can also opt for part payment, wherein he/she can pay a certain portion of a loan in one-go and reduce the burden. In case of availing a part payment, 2% charge+GST is applicable on the part payment amount.
How Can I Calculate My EMIs?
With a Personal Loan EMI Calculator, it is quick and easy to know the exact EMIs you need to pay to the lender. Simply enter-Interest Rates, Loan Amount and Tenure and based on your input, the calculator will let you know the EMIs.
What is Personal Loan Balance Transfer and How Can I Avail It?
A personal loan balance transfer is a facility, wherein a borrower can transfer the balance loan amount (amount left to be paid) of the existing lender to the new lender. You can avail this facility after paying 9 or 12 EMIs in your existing bank.
After opting for a balance transfer, you are liable to a new lender and have to pay a one-time processing of 2%-2.50% of the loan amount+GST. However, a Balance Transfer can be availed to enjoy lower interest rates offered by a new lender, that can minimize your loan repayment burden.
What are the Types of Personal Loan Interest Rates That Lenders Offer to Borrowers?
Personal loans can be offered on a flat and reducing balance basis. In a flat rate, the interest will be charged on the principal outstanding all the time irrespective of which stage the loan is in. Whereas, in a reducing balance, the interest is charged on the principal outstanding left after the EMI payment.
What is an EMI?
An Equated Monthly Installment (EMI) is a sum of principal and interest payable every month to the lender. Greater the rate of interest, the higher will be the EMI amount and vice-versa.
How Soon Can You Apply for a Personal Loan?
Anyone working in a public or private entity can apply for a personal loan as soon as he/she attains the minimum age of 21 years. Self-employed, on the other hand, will need to be a minimum of 24 years at the time of loan application.
How Much Work Experience is Required to Get a Personal Loan in India?
You must have worked for a minimum of 2-3 years to get a personal loan in India. However, lenders also want you to have a minimum of 1-year work experience with the current organization.