Vijaya Bank Personal Loan Interest Rates

Vijaya Bank offers personal loans at very competitive interest rates to its customers. It is realised that the interest rates have reduced by 2 % in the past five to seven years. The recent changes made by RBI have again resulted in declining rates of interest. While the rates were 11.3 % to 12.3 % in 2010, the rates in 2015 were seen as 13.05 % - 14.05 %. Further rates have decreased as shown in the following table.


Salaried Individuals

Pensioners Individuals

Rate of interest

MCLR for 1 Year + 4.25% = 12.9 % per annum.

MCLR for 1 Year + 3.25 % = 11.9 % per annum.

Loan Value

Average salary value of 18 months up to Rs 6 lakhs.

Average salary value of 18 months up to Rs 6 lakhs.

Tenure of the loan

Up to 60 months.

Up to 60 months.

Least EMI



Processing Fee




21 – 55 years

At least 2 years of service should be left.

Maximum 72 years by which the loans needs to be repaid.

Prepayment or foreclosure fees



Key points to remember about interest rates on Vijaya bank personal loans
  • The interest rates shall be determined based on the repo rate of RBI. Thus, these rates are likely to come down, however, with no an immediate effect.
  • If the interest rates are applied as floating charges, the rates shall not be fixed and will be applicable as per the lowest percentage prevailing in the market.
  • To avail personal loans from Vijaya Bank, you will require a guarantor. The guarantor should have an impressive financial record with government security investments to get better interest rates.
  • Vijaya bank considers the credit score as default. So, there is no impact on the interest rates based on the same.

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401, Lakhani Centrium, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra 400614

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