Best Personal Loans in Balanagar, Hyderabad
Balanagar is an industrial hub located on the outskirts of Hyderabad. It is well known for hosting several governmental establishments like HAL, BHEL and NRSA. Due to the huge workforces that work in these industries, there are well established colonies for the workers in this area.
Personal loans in Hyderabad are given by most major banks and financial institutions to individuals without asking for the requirement or need. They are unsecured loans given from Rs. 50,000 to Rs. 40,00,000 which means that you need not mortgage anything or show an asset. The most common reason for taking a loan is debt consolidation. Some of the other reasons include medical, travel, home renovation, wedding and so on.
You need to have a good credit history and adequate salary to get a loan sanctioned. Other factors like years of employment, company you work for etc will determine the most important factors like amount, tenure and rate of interest. Some of the banks in Hyderabad give you the flexibility to pre-close the loan without any additional charges. Most banks have a pre-closure charge in the 4%-5% range.
There are multiple banks which offer a personal loan in Hyderabad such as HDFC Bank, ICICI Bank, Kotak bank, Axis bank and so one. There are also multiple NBFC’s in Hyderabad such as Bajaj Finserv, Fullerton, Tata Capital, etc which offer unsecured personal loans.