Personal Loan in
Visakhapatnam

Personal Loans ranging from Rs.25K to Rs.25L with a tenure starting from 6 months.

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Our Financial Institutions

35

Banks / NBFCs

20K

Customers

18

Months in Operations

Personal Loans in Visakhapatnam

Personal loans in Visakhapatnam can be easily obtainable through multiple banks and NBFCs at an attractive interest rate. The loan amount ranges from Rs. 25,000 to Rs. 25 Lakhs with a loan period of one to five years. Personal Loans in Visakhapatnam can be secured instantly as the whole loan approval process takes less time as compared to other types of loans. Moreover, personal loans are unsecured loans and the borrower does not have to provide any collateral against the loan while borrowing.

Usually, a personal loan can be used for various purposes. It can be obtained for paying off medical bills, buying personal durable goods covering home renovation, wedding, and travel expenses. You can use a personal loan if you want to pay off multiple unpaid loans by opting for debt consolidation or balance transfer.

Visakhapatnam is the largest city and the financial capital of Andhra Pradesh. Home to the oldest shipyard and the only natural harbor on the east coast of India, the city has got multiple nicknames such as, Goa of the East Coast, The City of Destiny, and The Jewel of the East Coast. The city has also been selected as one of the Indian cities to be developed under smart city. As the economy of the city is listed as the tenth largest city in the country, multiple banks and NBFCs are expanding their business in Visakhapatnam by providing multiple forms of credit to the customers.

To get an instant approval on your loan application at the lowest interest rate, you must have a good credit score along with a strong credit history. However, there are other factors that affect the lending decision of the financial institution such as your employment status, your monthly income, reputation of your present company etc. Apart from that, identity proof, address proof and PAN Card are other required documents to get a loan. Several other factors such as tenure of employment in the current company and total work experience is also taken into consideration by banks and NBFCs in Visakhapatnam.

It is advisable to carry out in depth research before you settle down with one financial institution. There are multiple online portals who provide detailed information regarding the loan procedure and help attain loans easily. IndiaLends, an online marketplace, offers free customer support to personal loan aspirants. You don’t need to pay any charges or commission to us. By using our services, you can easily avail a good loan offer meant for you. When you apply personal loan in Visakhapatnam through us, you just need to fill up a simple form. We handle everything for you ranging from the documentation to disbursal. Our experienced financial team takes care of your credit needs and finds a good personal loan offer for you. They evaluate your profile and match them against the eligibility criteria of various financial institutions. After the careful analysis of available offers, they pick the best offer for you.

You can also check your personal loan eligibility by visiting our website. Moreover, we have an efficient personal loan EMI calculator which will help you get a fair idea of how much loan amount you should borrow. Furthermore, you can also benefit from our free credit report service before applying for a loan which gives an in-depth analysis of your credit history.

Personal Loan: An Overview

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.

*The figures provided in the table are indicative subject to change from 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 Visakhapatnam

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 Visakhapatnam Reviews

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

    • user
    • Vishal Gautam

      I was not able to get a personal loan since my CIBIL score was very low. IndiaLends helped me improve my credit health. As my credit score is 750 now, I am planning to apply for a personal loan once again.

      5.0

    • user
    • Ram Desai

      Based on the customer service, the overall experience with IndiaLends has been great. The security precautions that IndiaLends provides to their customers is definitely, by far, the best I've experience with any lending company till date.

      4.0

    • user
    • Sania Singh

      I really appreciate their service. As they do what they say. I applied for an unsecured personal loan with IndiaLends and it got disbursed within six days. Though the rate of interest is a bit high, but I guess it is fine when you are in urgent need of a cash.

      3.0

    • user
    • Rashee Maggu

      I applied for a personal loan at IndiaLends. The process was really swift and satisfactory. I really appreciate their customer service as they do wonderful job in showing right financial path to their customers.

      4.0

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.25 lakhs 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.