Personal Loan in Andhra Pradesh, Interest rates from 10.50%
Discover affordable personal loans in Andhra Pradesh with competitive interest rates beginning at 10.50%. Unlock financial flexibility and apply for your personal loan today.
Personal Loan in Andhra Pradesh
Personal loans are unsecured loans, meaning they don’t require collateral, making them a popular option for various needs in Andhra Pradesh. However, navigating the market can be overwhelming. This guide aims to provide comprehensive information on personal loans in Andhra Pradesh, empowering you to make informed decisions.
Eligibility and Requirements for PL in Andhra Pradesh
- Age: Between 21 and 65 years (may vary depending on lender).
- Employment: Salaried individual with a stable income source.
- Credit score: Minimum credit score requirement varies by lender (typically above 700).
- Citizenship: Indian citizen residing in Andhra Pradesh.
- Documents: Proof of identity, address, income, and employment.
Comparison of Personal Loan Interest Rates of Banks (2025)
| Bank | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| DBS Bank | From 10.99% | Up to ₹15 Lakhs | 1-2% of loan amount | 24-48 hours | Apply |
| HDFC | From 10.85% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Axis Bank | From 10.49% | Up to ₹40 Lakhs | 1.5% to 2% | 24-72 hours | Apply |
| ICICI Bank | 10.75% – 19% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Bank of Baroda | 10.75% – 18.5% | Up to ₹5 Lakhs | 1%-2% | 48-72 hours | Apply |
| SBI | From 11% | Up to ₹30 Lakhs | Up to 1.5% | 2-3 working days | Apply |
| IndusInd | From 10.49% | Up to ₹50 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Yes Bank | From 10.99% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Standard Chartered | From 11.5% | Up to ₹50 Lakhs | Up to 2.25% | 48-72 hours | Apply |
| IDFC | From 10.49% | Up to ₹50 Lakhs | Up to 3% | 24-48 hours | Apply |
| Kotak Mahindra | From 10.99% | Up to ₹40 Lakhs | 1% to 2.5% | 1-2 days | Apply |
| PNB | From 11.40% | Up to ₹20 Lakhs | Up to 1% | 2-3 days | Apply |
| Bandhan Bank | From 11.55% | Up to ₹25 Lakhs | Up to 2% | 48-72 hours | Apply |
Comparison of Personal Loan Interest Rates of NBFCs (2025)
| NBFC | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| Piramal Finance | From 12.99% | Up to ₹35 Lakhs | 2%-3% | 24-72 hours | Apply |
| Shriram Finance | From 14% | Up to ₹35 Lakhs | Up to 3% | 2-3 days | Apply |
| Tata Capital | From 10.99% | Up to ₹35 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| InCred | From 18% | Up to ₹3 Lakhs | 2% to 4% | Instant to 24 hrs | Apply |
| Finnable | From 16% | Up to ₹10 Lakhs | Up to 3% | 24-48 hours | Apply |
| PaySense | From 16.8% | Up to ₹5 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Poonawalla | From 9.99% | Up to ₹30 Lakhs | 1% to 2% | 24-72 hours | Apply |
| Fullerton | From 11.99% | Up to ₹25 Lakhs | Up to 3% | 1-2 working days | Apply |
| LendingKart | From 12% | Up to ₹3 Lakhs | 2% to 3% | 24-48 hours | Apply |
| Axis Finance | From 13% | Up to ₹25 Lakhs | Up to 2.5% | 1-2 days | Apply |
| Mahindra Finance | From 10.99% | Up to ₹10 Lakhs | Up to 3% | 2-3 days | Apply |
| Aditya Birla | From 11.99% | Up to ₹50 Lakhs | Up to 2.5% | 48-72 hours | Apply |
| Bajaj Finance | From 11% | Up to ₹50 Lakhs | Up to 4% | 24-72 hours | Apply |
Types of Personal Loans Available in Andhra Pradesh
- General Personal Loans: Used for various purposes without restriction.
- Top-up Loans: Additional loans offered to existing borrowers with good repayment history.
- Balance Transfer Loans: Used to consolidate high-interest debts into a single loan with a lower interest rate.
- Marriage Loans: Specifically designed to cover wedding expenses.
- Travel Loans: Financed for travel and vacation expenses.
- Education Loans: Used to cover education costs like tuition fees and living expenses.
Interest Rates and Charges for PL in Andhra Pradesh
- Interest Rates: 10% - 24% per annum (APR)
- Processing Fees: 1% - 3% of the loan amount
- Foreclosure Charges: 2% - 4% of the outstanding balance
- Late Payment Penalty: 1% - 2% of the EMI amount
Types of Personal Loans in Andhra Pradesh:
- Fixed Rate Loan: Offers a stable interest rate throughout the loan term.
- Floating Rate Loan: Interest rate fluctuates based on a reference rate.
- Balance Transfer Loan: Consolidates high-interest debts into a single loan with a lower interest rate.
- Top-Up Loan: Extends additional credit based on your existing repayment record.
- Gold Loan: Secured loan using gold jewelry as collateral, often offered with lower interest rates.
Additional Tips for Obtaining a Personal Loan in Andhra Pradesh
- Maintain a good credit score: This is crucial for securing a loan with favorable terms.
- Shop around and compare offers: Don’t settle for the first offer you receive.
- Negotiate terms: If possible, negotiate interest rates and processing fees.
- Borrow responsibly: Only borrow what you can afford to repay comfortably.
- Read the loan agreement carefully: Understand all terms and conditions before signing.
How to Apply for a Personal Loan at Andhra Pradesh?
Fincover.com is an online marketplace that allows you to compare loan quotes from various banks and NBFCs.
Mentioned-below is the process to apply for a Personal Loan at Fincover.
- Visit /banking/loan/personal/
- Complete the loan application by filling up all the necessary details
- Most popular quotes matching your requirement will be displayed.
- Apply for the bank along with the requested documents and get a reference number. You can then check the status of the application from our dashboard.
- Upon verification and approval, the loan will be disbursed to your account. The whole process takes just a few days, some even hours. The loan processing time varies from bank to bank
