PERSONAL LOAN
Live your wishes the way you dreamed of
INFORMATION
Personal Loan
A personal loan is used for personal use like education, Wedding, Vacation, Shopping, debt consolidation, home renovation, etc. It is also known as a multipurpose loan, it is given quickly as it does not require much security or collateral. Personal loan ranges from Rs. 50,000/- to Rs. 30 Lakh with a tenure ranging from one to five years.
A personal loan comes equipped with offers. Along with the Rate of Interest bank charges some fees for applying and pre-closing it known as processing fees which vary from 2-3% of the loan amount but, it can be reduced if a customer can bargain on it, a pre-closure penalty is another charge which is also 2-3%, a bargain can be done here too.
Eligibility
Eligibility of borrower depends on the loan or finance requirement and specific criteria fulfillment of the loan type. Though there are some common points which one must consider prior to applying for a loan are as follows Income tax return and salary slip, Average bank balance, Location of residence or business work premises, Existing borrowing status, repayment history, CIBIL Score, selection of financial institution for fund requirement, project presentation and most important personal discussion with the authority where we play a key role with you.
- IT Return
- Salary Slip
- Residence Location
- Work Location
- Existing Borrow Status
- Repayment History
- CIBIL Score
- Selection of Bank/NBFI
- Presentation of Proposal
- Discussion With The Authority