Personal Loan in Telangana, Interest rates from 10.49%
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Personal Loan in Telangana
If you’re a resident of Telangana in need of financial assistance, a Personal Loan can be a viable solution to your immediate cash requirements. Here’s a comprehensive guide to understanding Personal Loans in Telangana, including eligibility criteria, types of loans available, interest rates, charges, additional tips, and the application process.
Eligibility and Requirements for PL in Telangana
- Age: Typically between 21 to 65 years.
- Employment: Salaried individuals or self-employed professionals/business owners.
- Income: Minimum income requirements set by the lender.
- Credit Score: A good credit history enhances eligibility.
- Documentation: Aadhar Card, PAN Card, Salary Slips, Bank Statements, etc.
Comparison of bank Lenders in Telangana
| Institution | Interest rates | Loan amount |
| HDFC | From 10.5% | Upto 40 Lakhs |
| Axis Bank | From 10.49%` | Upto 40 Lakhs |
| ICICI bank | 10.75%-19% | Upto 40 Lakhs |
| Bank of Baroda | 10.75% – 18.5% | Upto 5 Lakhs |
| SBI | From 11% | Upto 30 Lakhs |
| IndusInd | From 10.49% | Upto 50 Lakhs |
| Yes Bank | From 10.99% | Upto 40 Lakhs |
| Standard Chartered | From 11.5% | Upto 50 lakhs |
| IDFC | From 10.49% | Upto 50 Lakhs |
| Kotak Mahindra | From 10.99% | Upto 40 Lakhs |
| PNB | From 11.40% | Upto 20 Lakhs |
| Bandhan bank | From 11.55% | Upto 25 Lakhs |
Comparison of bank NBFCs Lenders in Telangana
| Institution | Interest rates | Loan amount |
| Tata Capital | From 10.99% | Upto 35 Lakhs |
| InCred | From 18% | Upto 3 Lakhs |
| Finnable | From 16% | Upto 10 Lakhs |
| PaySense | From 16.8% | Upto 5 Lakhs |
| Poonawalla | From 9.99% | Upto 30 Lakhs |
| Fullerton | From 11.99% | Upto 25 Lakhs |
| LendingKart | From 12% | Upto 3 Lakhs |
| Axis Finance | From 13% | Upto 25 Lakhs |
| L&T Finance | From 12% | Upto 7 Lakhs |
| Mahindra Finance | From 10.99% | Upto 10 Lakhs |
| Aditya Birla | From 11.99% | Upto 50 Lakhs |
| Bajaj Finance | From 11% | Upto 50 Lakhs |
Types of Personal Loans Available in Telangana
Secured Personal Loans: Backed by collateral, such as property or investments.
Unsecured Personal Loans: No collateral required; based on creditworthiness and income.
Salary Advance Loans: Short-term loans against upcoming salary payments.
Emergency Loans: Immediate financial assistance for unforeseen circumstances.
Debt Consolidation Loans: Consolidate multiple debts into a single loan for easier management.
Wedding Loans, Education Loans, Travel Loans, etc.: Tailored financing for specific purposes.
Interest Rates and Charges for PL in Telangana
| Lender | Interest Rate | Processing Fee | Prepayment Charges |
|---|---|---|---|
| Bank 1 | 10.50% onwards | 1%-2% of loan amount | 2%-4% of outstanding balance |
| Bank 2 | 11.75% onwards | Up to ₹5,000 | May vary |
| NBFC 1 | 12.00% onwards | As per lender’s policy | As per lender’s policy |
Additional Tips for Obtaining a Personal Loan in Telangana
- Improve your credit score: A higher credit score qualifies you for better interest rates.
- Compare offers: Research and compare loan options from different lenders before finalizing.
- Borrow only what you need: Avoid excessive borrowing to manage repayments comfortably.
How to Apply for a Personal Loan at Telangana?
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 https://www.fincover.com/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
NBFCs
- Rs.50 lakh Personal Loan
- Rs.40 lakh Personal Loan
- Rs.30 lakh Personal Loan
- Rs.25 lakh Personal Loan
- Rs.20 lakh Personal Loan
- Rs.15 lakh Personal Loan
- Rs.10 lakh Personal Loan
- Rs.5 lakh Personal Loan
- Rs.4 lakh Personal Loan
- Rs.3 lakh Personal Loan
- Rs.2 lakh Personal Loan
- Rs.1 lakh Personal Loan
- Rs.50,000 Personal Loan