The individuals working for private sector companies, semi and central government agencies and permanent employees of the state can easily avail the personal loan facility provided by State Bank of Hyderabad and that too at attractive returns. However, to avail the personal loan, the applicant has to provide a guarantor as a collateral or security.
On the other hand, the interest rates charged on your personal loan will depend on your credit history, loan repayment capacity, income, and inflation and RBI rates. Also, for the year 2015, the interest rate for the personal loan was provided at the bank's discretion however, the 9.5% was set as the base rate.
Rate of Interest
14.70% - 16.75% on a yearly basis
Max: Rs.7.5 lakhs
Maximum: 36 months
Rs.3451/- per Rs.1 lakh loan amount (applicable for the maximum tenure of lowest loan amount)
Minimum Rs.1000 with 1% of the advance amount
Min: 21 years
Max: 55 years
The State Bank of Hyderabad will review your CIBIL score before availing you the interest rate attached to your personal loan. The CIBIL score includes your credit history, loan repayment capacity and more. Thus, it is necessary to maintain a healthy CIBIL score to get the maximum out of your personal loan interest rates. The ideal CIBIL score for an individual is said to be 750.
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