Best Personal Loans in Secunderabad, Hyderabad
Popularly known as the twin or sister city of Hyderabad, Secunderabad is located across the Hussain Sagar lake. Both cities started differently under the Nizam and British rule respectively but now have merged to act as the capital of the state of Telangana in south India. The area is famous for its defence installations and its cantonment area but has now spread to encompass residential localities and shopping areas. The area is also famous for the elite Secunderabad Club as well as many places of worship.
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.