Instant and Easy Personal Loans in Hyderabad
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A Personal loan is a type of an unsecured loan, availed to meet unforeseen, emergency purposes and for genuine financial demands. Be it a medical emergency, buying your wished-for automobile, to pay the educational fees, to fund a holiday trip, to meet wedding expenses, for home improvements, to pay off other smaller debts, or any unexpected expenses, a Personal loan could be the best possible solution to overcome any personal financial issues.
Most personal cash loans are unsecured short-term loans that do not need any collateral to be placed as a guarantee. Since these low rate personal loans do not need any asset as surety, the borrower’s creditworthiness & financial record are considered before providing them.
They are probably the most convenient types of loans that can be availed for personal financial emergencies within a short period of time. Apart from having a relatively quicker processing and turnaround times, personal loans also do not need very complicated paperwork as they require lesser documentation.
Personal Loans EMI Calculator
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Process for Personal Loans
Like the eligibility criteria, different banks need different documents for verification that proves the authenticity of the borrower. At AKB Loans, along with a completely filled-in application form with a recent photograph, you may have to submit a couple of more documents, as needed by the financial institution with which you are applying for a personal loan. Mentioned below are a few documents that should be submitted for the verification process.
1. Identity Proof
- PAN Card
- Aadhaar Card
- Voter ID Card
- Driving License
- Passport Copy
2. Current Address Proof
- Driving License
- Passport Copy
- Latest Gas Bill
- Latest Property Tax Bill
- Bank Passbook
- Ration Card
3. Age Proof
- PAN Card
- Aadhaar Card
- Voter ID Card
- Passport Copy
- Certificate issued by any statutory authority
4. Bank Statement
- Latest 3 months’ updated statement
5. Employment Proof
- Company ID Card
6. Salary Slip & Form 16
- Last 3 months’ salary slips
- Form 16
7. Self Employed
- Business License*
- Bank Statement*
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Personal Loans Interest Rates
| Interest rates | 10.25%* to 15.05%* |
| Processing fee | It ranges from 1%* - 3%* and differs according to the banks |
| Loan Tenure | 12 months to 60 months |
| Loan Amount | ₹ 1,00,000 * - ₹ 75 lakhs* |
| Lock-in period | It differs from the lender to lender |
| Pre-closure charges | It differs from the lender to lender |
| Guarantor Required | It depends on the different conditions |
Frequently Asked Questions
What can personal loan be used for?
There is no restriction on the end use of personal loan. It can be used to finance anything and everything.
How is the loan eligibility determined?
There are certain eligibility criteria that you need to fulfil and only then you will be approved with the loan. Check the eligibility criteria before going further.
How much loan money can be borrowed?
The eligible loan amount will depend on various factors, but the maximum amount can be borrowed is 75 lakhs* .
How soon will I get my money disbursed?
Once you submit all the documents, the lender will move your application further and within no time the amount will be disbursed.
