Personal Loan in
Hyderabad

Personal Loans ranging from R.25,000 to Rs.50 lacs with a tenure starting from 6 months.

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HDFC Bank
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Capital First

*Product Terms may differ based on your Eligibility.

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35

Banks / NBFCs

20K

Customers

18

Months in Operations

Personal Loans in Hyderabad

Personal loans in Hyderabad are provided at fair interest rates by a lot of financial institutions and NBFCs in India. This makes personal loans the ideal option for fulfilling your financial needs especially during times of emergencies when the need for cash arises. Firstly, securing a personal loan in Hyderabad is not a lengthy process as it involves minimal documentation and a short processing time. Secondly, they can be used for various purposes ranging from medical emergencies, weddings, buying electronics or funding a small business. Thirdly, you can always take up a personal loan for a balance transfer or for consolidating all your current debts for convenience of repayment. Finally, personal loan interest rates are much lower than other forms of debt, say credit card interest rates. Moreover, apart from being fast and easy, personal loans are unsecured i.e. you do not have to provide any asset as collateral to secure the loan.

Hyderabad is known as a trade centre for diamonds and pearls and is therefore known as the ‘City of Pearls’. The growth of financial services sector has helped in the evolution of the services industry. The city has a lot of street vendors who set up their own stalls through their personal savings. A very small percentage of people go to moneylenders for borrowing. Personal loans are an idle option for initiating a small business and can help small vendors to kick start their career.

Certain requirements such as a decent credit history, adequate monthly salary and minimum age are important for obtaining a personal loan with ease. After you apply for a personal loan, your credit report containing your credit history and your final credit score is reviewed by the lender. The lender refers to your credit history to determine the level of interest rate, loan amount and tenure of the personal loan.

That said, it is a good practice to carry out detailed research and gather relevant information before taking a personal loan. The interest rates, processing fees, flexibility of tenure and pre-payment charges should be compared and the best option should be chosen. Many people fall into the trap of borrowing from private lenders who charge a very high rate of interest. At times, the interest rates can go as high as 30%. It is advisable to turn to online lending platforms as the loans are provided at lower interest rates at these platforms. To get the best deal without going through a lot of trouble, online lending platforms such as IndiaLends.com are a good option. Applying for a personal loan online is convenient as most of the work is done by the online platform. When you apply online, your application is sent to suitable banks and NBFCs as per your profile who would make the lending decision after reviewing your application and assessing risk. More importantly, online platforms like IndiaLends operate without charging any extra fees or attached hidden costs.

Personal Loan: An Overview

Personal Loans are unsecured loans which are offered by financial institutions for a borrower's personal use.

  • bank logo

    11.49%-20% Per Annum

    12 to 60 Months

    Up to 2.5% of the loan amount Maximum 25,000 to Minimum 1,000

  • IDFC

    11.49%-20% Per Annum

    12 to 60 Months

    Up to 2.5% of the loan amount Maximum 25,000 to Minimum 1,000

  • bank logo

    11.49%-20% Per Annum

    12 to 60 Months

    Up to 2.5% of the loan amount Maximum 25,000 to Minimum 1,000

  • bank logo

    11.49%-20% Per Annum

    12 to 60 Months

    Up to 2.5% of the loan amount Maximum 25,000 to Minimum 1,000

* The figures in the table are indicative subject to change with time.

How it Works

A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use.
It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.

1

Registration

register

Apply online in less than 2 minutes

2

Quick Verification

verification

We will review your application and give you a decision within minutes

3

Loan Disbursal

receive loan

Receive the loan amount within two days.

Basic Eligibility Criteria

  • eligibility

    Good Credit Score

  • eligibility

    Above 21 years of Age

  • eligibility

    Salaried professional

  • eligibility

    Resident of India

  • eligibility

    Valid Bank Account

  • eligibility

    PAN Card and Voter ID Card/Driving License

  • eligibility

    Bank Statements for the last three months

  • eligibility

    Salary Slip for last three months

Find out your customized interest rate for a Personal Loan in Hyderabad

A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use.
It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.

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Become a IndiaLends Partner

Become an IndiaLends Partner to earn incentives and rewards!

  • Earn up to 2% for loan Referral
  • Refer for credit report and earn Rs.20 on successful credit report pulled
  • Refer app to another Partner and earn Rs.750 on their first successful disbursal.

** These amount ranges are for total disbursal during the month.

Personal Loans in Hyderabad Reviews

Your reviews motivate us and help us make our service even better

    • user
    • Rohit Kaushal

      It was a good experience with IndiaLends. They gave protective advice for my personal loan request. They took 6 days to complete the whole process, however they kept me informed at each step.

      4.0

    • user
    • Vandana Tomar

      Happy with IndiaLends service. Their support was really good as they collected my documents and done the verification on the same day. It was a nice experience for me and I would recommend others to use their services.

      5.0

    • user
    • Sumit Kapoor

      I am really happy with the services of IndiaLends. They were super-fast in the process and quick in giving me a response. I would like to rate them 4 stars.

      4.0

    • user
    • Afsha Amber

      IndiaLends sanctioned me personal loan within few days. All I had to do is to give my documents to them for verification.

      3.0

Frequently Ask Questions

Q. How much can I borrow and for how long?

A. You can get personal loans starting from Rs. 25,000 up to Rs.50 Lacs for 1 to 5 years.

Q. Can I repay my loan early?

A. Yes, you can pre-pay your loan as and when you want.

Q. How does Indialends assess my credit worthiness and how long does this take?

A. Each consumer wishing to borrow on the Indialends portal will need to go through a rigorous verification and credit assessment process. The assessment is based on information collected from various data sources like the application form, credit bureaus, bank statements, pay slips, verification reports, social media, etc. The above process is automated and happens within seconds. Hence, you can get an approval shortly after you submit your application.

Q. Why was my application rejected?

A. The reason your application was rejected was because your credit profile did not match the criteria stipulated in the Indialends policy at the time. However, Indialends might be able to approve your application at a later date, if by then your credit file has improved or there have been changes in the Indialends credit policy.

Q. What is my repayment schedule?

A. Repayment of the loan will happen monthly on an EMI (equated monthly installment) basis where the amount will be calculated based on amortizing balance. One or two of the installments might be different which will depend on the timing of the loan.

Q. What happens in the case of a missed payment or non-payment by a borrower?

A. If the monthly payment for a borrower is delayed for any reason, a penalty fee and penal interest might be charged to the borrower. The borrower’s credit file will also get impacted which will restrict him / her to get credit in the future. Legal action may also be taken against the borrower.

Q. What information is shared with the lenders browsing through the profiles?

A. Lenders will have the ability to view detailed profiles of the borrowers, information like financial information, employment information, etc. The personal information of the borrower remains protected as per our privacy policy.

Q. How do I alter my loan request?

A. Loan requests can only be cancelled prior to loan disbursal. In case you want to make any changes to your request please reach out to support@indialends.com. The support team will help you in making the modifications.

Q. How can I make monthly payments?

A. You can pay your EMIs using electronic transfer of funds, ECS.

Q. How will you disburse the loan amount?

A. Soon after the loan is approved, the funds will be transferred right into your bank account.