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Personal Loan in Hyderabad
Hyderabad, the capital and largest city of the Indian state of Telangana ranks as the fourth-most populous city, and the fifth-largest urban economy in India. Previously a princely state, the ‘Charminar’ symbolises the city in a culture of art, craft, jewels, literature, and clothing. Hyderabad houses the winter office of the President of India, and also the Telugu language film industry. This nineteenth century ‘City of Pearls’ has emerged as an IT Hub for the pharmaceuticals and biotechnology.
While living and working in this capital, an unexpected financial situation, or a crisis such as a health and wellbeing expense, a marriage, or an unwarranted travel expense could make life uncomfortable. Finding sources for such expenses would require financial advice. Such times of difficulties can be tackled with the support of RULOANS Personal Loans in Hyderabad on feasible terms. We at RULOANS are here to advice you in your times of want at no added expense.
Features and Benefits of a Personal Loan in Hyderabad
Available as a loan that requires no collateral, you can avail a personal loan easily on the basis of your income. A personal loan has many end uses, some of which are listed below.
Medical Emergency
An emergency personal loan to finance sudden and unforeseen expenses
Travel Loan
A personal travel loan that covers expenses while on vacation or a holiday
Wedding Loan
Meet marriage related expenses with a personal wedding loan for a special occasion
Education Loan
Pursue higher studies with a personal education loan to cover your expenses
Debt Consolidation
Pay off old debts and reduce interest payments with a personal debt consolidation loan
Debt Consolidation
Pay off old debts and reduce interest payments with a personal debt consolidation loan
Home Renovation
A personal home renovation loan to upgrade and improve your residence
Eligibility Criteria for a Personal Loan in Hyderabad
The term Loan Eligibility in broad terms refers to your ability or capacity to avail a personal loan from a Bank or a NBFC. Lenders use Eligibility Criteria as a benchmark to decide the quantum of funds to be lent on the basis of your financial credentials such as your income, other obligations, additional source of income, etc., subject to your age, which decides your personal loan tenure. Income and age are not the only criteria for determining loan eligibility. Combinations of other factors such as your employment, your CIBIL score, etc., are also used to determine personal loan eligibility. Eligibility Criteria required are as listed below.
Age
Your age becomes an important criterion as a measure of your ability to repay a Personal Loan. As a rule, you will not be denied a personal loan should you be a person aged between 21 to 60 years.
Type Of Employment
Should you be a salaried individual, you are eligible for a personal loan.
Employment Status
Your term or period of employment becomes a measure of your reliability to repay a loan in time. A Personal loan for salaried employees dictates that you must be working for an MNC, or a Private, or Public Limited Company, with a minimum work experience of 2 to 3 years.
Income
The minimum salary or income required for a personal loan for eligibility differs from lender to lender. You as a salaried person should have a minimum salary of Rs. 15,000 per month.
Credit Score
Lenders assess your creditworthiness or ability to repay a personal loan by accessing your credit score, which derives from your credit history in your credit report. Your credit score affects the loan amount, period of credit, interest rate, and terms that you are offered. Your Credit Score (CIBIL) should be above 650.
What are the Documents required for a Personal Loan in Hyderabad?
We at Ruloans are committed to making your borrowing process smooth. Documents required for a personal loan are minimal. We request you to submit correct information and papers so that your personal loan application can be processed in the shortest possible time. Documents required are as listed below.
Documents Required
Identity and Residence Proof
- PAN Card
- Aadhaar Card
- Electricity Bill
Employment Proof and Income
- Company Identification Card
- 6 months Bank statement
- 3 months Salary Slips
- 2 years Form-16
How to apply for a Personal Loan in Hyderabad?
1
Step 1
Online Application
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Step 2 : Apply
Click On Apply Now
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Step 3: Fill
Fill In Personal And Financial Details
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Step 4: Submit
Submit Application
Hyderabad Personal Loan Interest Rates
Bank Name
Interest Rate
Processing Fees
HDFC Bank
10.35%
5899
ICICI Bank
10.35%
4999
Axis Bank
10.99%
0.75
Yes Bank
10.75%
4999
Kotak bank
10.99%
4999
Tata Capital
10.99%
0.75
IDFC bank
10.99%
1
Incred
16%
2
Fullerton
14%
1
ABFL
13%
1
Rufin
13.5%
5000
Hero
14%
1.50
Finnable
18%
1
Paysense
18%
1
Bajaj
13%
1
L&T
13%
2
SCB
10.75%
1
Bhandhan bank
13%
1
How do I get a Personal Loan with the Lowest Interest Rate in Hyderabad?
Most banks and lending institutions offer Personal Loan Interest Rates to a loan applicant after weighing factors such as his credit score, monthly income, occupation profile, etc. Hence, personal loan interest rates offered by as many lenders as possible, based on the credit scores and other aspects of your credit profile. Consider the following to avail a personal loan at the lowest interest rate available.
- Build and maintain your credit score of 650 or above.
- Check for pre-approved offers from banks and NBFCs.
- Make Enquiries with Banks / NBFCs with whom you already bank with, or have the deposits.
- Check for low interest rate festive offers and discounts.
- Research financial marketplace online to compare offers from lenders.