Vijaya Bank Personal Loan Eligibility

⋆ Interest Rate 9.99% ⋆

Vijaya Bank Personal Loan Eligibility Criteria

Some key eligibility requirements factors that borrowers need to bear in mind when applying for a personal loan from the Vijaya Bank include the following:

You should be at least 21 years old at the time of the personal loan application and the overall age should be 60 years.
To apply, you should be an employee of private limited corporations or an employee of public sector undertakings comprising federal, state and local authorities.
You can work for at least 1 year for your new boss and have a combined job experience of at least 2 years at the time of the loan application.
If you live in Delhi, Bangalore, Mumbai, Hyderabad, Chennai, Ahmedabad, Kolkata, and Cochin, your minimum monthly income must be at least Rs. 20,000. The minimum wage required to be qualified for a Vijaya Bank personal loan is Rs. 15,000 if you live in some other city or town in India.

Vijaya Bank Personal Loan Against Asset

Smart draft – Overdraft Against Salary

You can be authorized for a sum up to three times your income with Vijaya Bank’s pay-as-you-use overdraft loan. You just need to pay interest on the amount you use, no matter what the overdraft amount is allocated. The Overdraft Against Wages may also be foreclosed at any point without any foreclosure fee.

Eligibility Criteria

With periodic salary credits, you should have a Vijaya Bank Corporate Salary Account.
At least Rs. 15,000 should be your monthly salary.
For overdraft services, the business you deal for should be on the accepted list.

Vijaya Bank Personal Loan Eligibility Calculation

The Personal Loan Eligibility Calculator available on Paisabazaar.com allows an individual to decide if he or she is eligible for the Vijaya Bank Personal Loan from home or office comfort. The calculator of personal loan eligibility is simple to use and asks for some specific details to verify your eligibility with the bank, such as occupation type, loan size, monthly salary, mobile number, current city, etc.

How to Improve Your Vijaya Bank Personal Loan Eligibility?

A healthy credit score: Your credit score, which represents your previous repayments and financial conduct, has the biggest effect on your eligibility. You have better odds of being approved for a personal loan if your credit score is good. If you have a low credit score, you may not be considered, or a higher interest rate will be paid.
Choose the loan amount wisely: After assessing your repayment ability, you must request a personal loan number. Therefore, a loan sum that you can comfortably repay during the term without hindering your monthly expenses must be demanded.
Don’t apply for multiple personal loans with various banks at a time: If you assume that applying at the same time with many lenders increases the odds of having a loan, you are mistaken. Any time you apply for a loan, it is reported as a hard demand in your credit report and is therefore accessible to lenders. You appear to be credit hungry because you apply to several lenders at the same time, which adversely affects your eligibility for a personal loan.
Pay your existing credit card bills and loans: Be sure you pay your new unpaid obligations (credit card bills and loans) to raise your debt-to-income ratio before you apply for another loan. This is because the repayment potential is now limited as you are already spending several EMIs, which lowers the likelihood of any loan being sanctioned.

FAQs on Vijaya Bank Personal Loan Eligibility

✅What are the interest rate and processing fees of Vijaya Bank?

The interest rate is 10.50%. The processing fees for Vijaya Bank personal loans are 1% of the loan amount.

✅Where can I find the nearest branch of Vijaya Bank?

You can find the nearest branch of Vijaya Bank

✅How long will it take to get my personal loan disbursed?

Once your personal loan application is approved, the loan amount usually gets disbursed to your account within 3 to 5 working days.

✅What is the minimum salary requirement to avail Vijaya Bank personal loan?

Your minimum salary to avail of a Vijaya Bank personal loan should be Rs. 15,000. However, those residing in metro and tier 1 cities like Bangalore, Delhi, Mumbai, Hyderabad, Chennai, Kolkata, Ahmedabad, and Cochin need a minimum monthly salary of Rs. 20,000 to be eligible for Vijaya Bank’s personal loan.