Urban informal communities in floodplains are particularly vulnerable to flooding and are often overlooked in the disaster response and development strategy. Therefore, determining the vulnerability of such communities is crucial for enhancing resilience and facilitating effective disaster preparedness. This study assesses the vulnerability of three low-income informal urban settlements in the Old Brahmaputra River floodplains of Bangladesh. A total of 15 indicators against three major sub-components of vulnerability (social, physical, and economic) are selected to calculate the index using the analytical hierarchy process and simple average method. Findings revealed moderate vulnerability in all selected communities. ANOVA revealed a significant difference in vulnerability indices among these selected settlements. It was further observed that, unlike community characteristics, the vulnerability levels tend to be influenced by the choice of analytical approach. Based on the study findings, the concerned organizations can implement measures like improving means of risk communication, providing basic amenities, and promoting social capital, which can be utilized to enhance the adaptive capacities of informal settlements.