Vijaya Bank



Apply Vijaya Bank Personal Loan

About Vijaya Bank Personal Loan

Formed by a group of farmers, led by Late Shri A.B Shetty, in the year 1931, the objective of Vijaya Bank was to promote banking and entrepreneurship among the community of farmers in Karnataka. Today, it is one of the premier banking institutions with pan India reach, providing several loan options for customers.

Personal loans offered by Vijaya Bank can be used for several short-term expenses such as medical treatment, travel, and social obligations like marriage functions and financial obligations such as debt repayment. Efficient service and easy repayment options make this one of the most feasible options available to meet any urgent financial requirement.

Important Notice: Dena Bank and Vijaya Bank have merged with the Bank of India w.e.f 01.04.2019. Banking operations and accounts of these two banks will be transferred to the Bank of Baroda post merger. This merger will lead to some changes for the Dena Bank and Vijaya Bank customers.

Vijaya Bank Personal Loan Interest Rate - June 2021

Interest rate

12.75 %

Loan tenure

5 Years

Loan turn around period

1-7 Days

Processing Charges

0.75 % of loan sanctioned + Taxes

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents

Dishonour Charges

750 per instance

Lowest EMI

2301  Per Lakh

Why choose Vijaya Bank Personal Loans?

Vijaya Bank is known for its large network of branches across the country. The institution thrives on effective financial solutions and offers several benefits to individuals and groups alike. There are several benefits of choosing a personal loan with Vijaya Bank such as:

  • Pan India reach with 2031 branches in urban, semi urban and rural sectors.

  • Availability of high end technology such as Mobile Banking, Internet Banking, e-passbooks, Mobile Wallets and others to help with easy repayment of loans.

  • Competitive interest rates for affordable personal loan options.

  • Innovative and attractive packages to suit your budget requirements and your monthly income.

  • Simple documentation processes and transparency in all loan applications.

  • International Banking and NRI services to help you apply for loans from across the globe.

  • Efficient customer service to simplify loan application process and repayment.

Features and Benefits of Vijaya Bank Personal Loans

Vijaya bank offers personal loans that are easy to apply for and easy to avail as well. These loans have several benefits and attractive features such as:

  • Availability of loans for short-term requirements such as marriage expenses, medical expenses, purchase of any consumer durable etc.

  • The benefits of the loan extend to family members of the applicant as well.

  • If you are a salaried individual, you can get up to 10 Lakh as personal loan (2 lakh for pensioners).

  • Assessment of finance for loan eligibility is very simple and transparent.

  • Loan is available to salaried class as well as pensioners.

  • Attractive interest rates to give you easy EMI repayment facilities.

  • Zero margins required for personal loans.

  • You can get a maximum repayment tenure of 60 months.

  • No documentation fees for loans below 2 Lakh.

  • You do not have to pay any prepayment charges for personal loans with Vijaya Bank.

  • Documentation process is simple and hassle-free.

Vijaya Bank Personal Loan Interest Rates

With Vijaya Bank, you get floating interest rates depending upon your current employment status. These rates allow easy repayment options in the form of equated monthly installments. The current interest rates are as follows:


1 year MCLR+ 5%  = 13.55% per annum


1 year MCLR+ 4% = 12.55% per annum

Types of Personal Loans offered by Vijaya Bank

Vijaya Bank currently offers personal loans to salaried individuals and pensioners. The features of this loan are as follows:

Personal Loan to Salaried Class and Pensioners


Purpose of loan



Personal loans cover any short-term requirements of the applicant such as marriage expenses, medical emergency, purchase of durables and more. 


Quantum of loan


The maximum loan amount available is as follows:

  • Salaried class- 10 Lakh
  • Pensioners- 2 Lakh


Assessment of finance


18 times you average salary or pension credited during the last six months is assessed.

This amount must be 40% of your take home salary after all deductions including the proposed EMI, subject to a maximum amount of 10 Lakh.

If the company of the applicant maintains a salary account with Vijaya Bank, then a minimum of 1 month's salary should be credited before applying for the loan.

In case of pensioners, 18 times the net pension credited for the last 6 months is taken into account, subject to a maximum of 2 Lakh







Repayment tenure

Maximum repayment tenure of 60 months is available


In case of salaried class: Third party guarantee is mandatory. Spouse guarantee is not required.


In case of pensioners:Spouse guarantee or dependent guarantee if spouse guarantee is not available is mandatory.







All pensions and salaries must be routed through Vijaya Bank.

Check your Vijaya Bank Personal Loan Eligibility

The eligibility conditions for a personal loan with Vijaya Bank are as follows:

  • Salaried individuals must be at least 21 years of age in order to apply for a loan.

  • In case of salaried individuals, permanent employment with a minimum of 2 years of pending service is mandatory.

  • Salary should be drawn through Vijaya Bank.

  • Pensioners should not be more than 72 years of age.

  • Pension should be drawn through Vijaya Bank.

Documents required for Vijaya Bank Personal Loan

The documentation for personal loans with Vijaya Bank is easy. The documents that you need are as follows:

  • A duly filled and signed loan application form with a recent photograph

  • Proof of Income
    • Latest salary certificate or form 16 authenticated by the employer.

    • Copy of receipted ITRS for the last three financial years

    • Bank Statement for the last three years

  • Age proof (Drivers' License/ Passport copy/ Adhaar Card/ Voter's ID)

  • Address proof (Adhaar Card/ Driver's License/ Passport Copy/ Electricity Bill/ Voter's ID)

  • You must provide any other additional information that may be needed.

Other Vijaya Bank products

Vijaya Bank offers an array of products for different requirements of its customers. The products offered are as follows:

Products offered by Vijaya Bank

Housing Loan

V-Elite Home Loan

Loan for 3rd Dwelling unit


PradhanMantriAwasYojna- Credit Linked Subsidy Scheme

Home Loan Plus

V Wheels- Four Wheelers

Loans to Transport Operators


V-Wheels- Two Wheelers

V-Cab Scheme

IBA Model (India and Abroad)

IBA Model Skill Loan Scheme

Online Education Loan

Personal Loan

Vijaya Top Up Loan

V-Mudra Weavers Card Scheme

Jewel Loans

V-Reverse Mortgage



V-Secured Overdraft


Loan Against Property

Loan for Medical Practitioners







V- Dhaanya

How to calculate EMI on Vijaya Bank Personal Loan

To ensure that you get a loan plan that is suited to your budget, it is a good idea to calculate your EMI in advance. You can calculate your EMI very accurately on The online EMI Calculator gives you the exact amount based on the rate of interest of the product that you have chosen. All you have to do is enter the loan amount and the tenure of the loan.

How does CIBIL Score affect Vijaya Bank Personal Loan

Your CIBIL score plays a very important role in any loan application. The higher the CIBIL Score, the more eligible you are and the better Rates of interest for Personal Loan offered to you. Your CIBIL Score indicates your previous repayments and credit history and for most loans and financial products, you need a minimum CIBIL Score of 700. You can check your CIBIL Score on through the CIBIL Score Calculator. 

Vijaya Bank Personal Loan Processing Fee and Other Charges

The processing fees depend upon the type of personal loan that you are applying for. The details are as follows:

Processing Fee for Personal Loan

0.75% of loan amount.+ GST

Documentation Charges for Personal Loan

Below 2 Lakh- NIL

2 lakh and above- 0.10% of Loan Amount+ ST min of 500+GST

Vijaya Bank Customer Care

You can contact Vijaya Bank with any query related to their products on the following numbers:

Query Phone Number Email-ID

Toll free number

1800-425-5885/1800-425-9992/ 1800-425-4066



Credit Card/ Debit Card


1800-425-5885/1800-425-9992/ 1800-425-4066

Internet Banking or V-Net Banking

1800-425-5885/1800-425-9992/ 1800-425-4066



NRI Contact Details




Head Office:

41/2, Trinity Circle,

MG Road, Bangalore- 560001


What purpose is Vijaya Bank Personal Loan offered for?

Vijaya Bank offers personal loans for any short-term financial requirement including marriage expenses, medical expenses, travel, education, and other financial obligations.

Who is eligible for a Vijaya Bank Personal Loan?

Vijaya Bank Personal Loans are available for salaried individuals who are at least 21 years old and for pensioners who are less than 72 years of age.

What is the rate of interest for Vijaya Bank Personal Loans?

Vijaya Bank offers floating interest rates for personal loans as follows:

  • For salaried individual- 1 year MCLR+ 5%= 13.55%

  • For pensioners- 1 year MCLR+ 4%= 14.55%

Is any security deposit required for personal loans with Vijaya Bank?

The personal loan offered by Vijaya Bank is a clean term loan, which means that you do not have to provide any security against the loan.

What is the maximum repayment tenure for a personal loan with Vijaya Bank?

You can be up to 60 months as repayment tenure for personal loans applied through Vijaya Bank.

Is it mandatory to have a salary/pension account in Vijaya Bank for a personal loan?

Yes. It is mandatory for all salaries or pensions to be drawn through Vijaya Bank in order to avail a personal loan.

Is guarantee required for personal loans with Vijaya Bank?

Yes. For salaried individuals, third party insurance is mandatory. For pensioners, spouse guarantee is mandatory. If spouse guarantee is not available, then the dependent guarantee is necessary for personal loans for pensioners.

How is financial assessment conducted for personal loans with Vijaya Bank?

For salaried individuals, 18 times of your average salary or pension credited during the last six months is assessed. It is mandatory for this amount to be 40% of your take home salary after all deductions including the proposed EMI, subject to a maximum amount of 10 Lakh. In case of pensioners, this amount is subject to a minimum of 2 Lakh.

What margin should be provided for Vijaya Bank Personal Loans?

For any personal loan with Vijaya Bank, you do not have to provide any margin amount.

What are the processing fees for Vijaya Bank Personal loans?

For all personal loans the customer is required to bear processing fees and documentation fees as follows:

  • Processing fees- 0.75% of loan amount+ GST

  • Documentation fees - For loans below 2 Lakh - No Processing fees. For loans above 2 Lakh- 0.10% of loan amount + Min ST of 500+ GST.

Why apply for Vijaya Bank Personal Loan on MyMoneyMantra?

Today there are several loan options available with various financial institutions. Each one offers unique features and options that you should be aware of before you look for any financial assistance. That way, you can be certain that a certain loan option fits in your budget and fulfills your requirements.

MyMoneyMantra is your one stop solution to connect with over 70 financial institutions to compare and understand each plan before applying for a loan. The benefits of applying through MyMoneyMantra are as follows:

  • You have the option of checking your eligibility for a certain product instantly with the online eligibility calculator tool.

  • Get all the information about different products in one go.

  • Get consistent support from the associates at MyMoneyMantra before and after loan application.

  • Avail customized loan quotations based on your income and monthly budget.

  • Know your CIBIL score with the CIBIL score calculator available online.

  • Calculate your monthly EMI accurately using the Personal Loan EMI Calculator.

  • Get an instant E-approval for all applications made through MyMoneyMantra.

You can be assured of 100% confidentiality of all information provided on MyMoneyMantra.

How to apply for Vijaya Bank Personal Loan on MyMoneyMantra?

There are a few simple steps that you need to follow in order to apply for a personal loan through MyMoneyMantra:

Step 1: Register

  • Log on to
  • Enter your gender and other personal details such as phone number and email ID.

  • Enter the OTP number sent to your phone number to complete your registration.

Step 2: Apply for a Loan

  • Enter loan amount required, monthly salary and purpose of loan.

  • Choose the loan plan that suits you based on customized quotation.

  • Prepare documents for verification by MyMoneyMantra associates.

Step 3: Loan approval

  • Complete the personal interview with Vijaya Bank officials.

  • After approval, loan is disbursed as per the terms in the sanction letter.

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