A Personal Loan, as the name suggests is a loan taken to meet personal financial needs. It can be a marriage in the family, a house renovation, buying jewellery for your wife or paying for your vacation trip. These are the moments you may be looking for some urgent need for money, and which can be met by taking a Personal loan.
Usually the procedure of Approval of personal loans are quick and a loan is approved with simple documentation.
Advantages of personal loans are Speedy Approval, flexibility to choose your loan amount ranging from 10000 to 10,00,000, Repayment period from 12 to 48 as per your interest, No need of collateral/security/guarantor.
When it comes to Loans in India, we have a number of banks dealing with personal loans, giving attractive interest rates and competitive services. So it is always advisable for anyone to do a Loan Research before actually proceeding with a loan option from a Lender.
Eligibility Criteria For Taking A Personal Loan
| Documents | Salaried Individuals |
| Identity proof | Passport or voter's card or driving licence or PAN card and photograph |
| Income proof | Latest salary slip showing all deductions or Form 16 along with current dated salary certificate or ITR (last 2 years) |
| Residence proof | Bank Account Statement/ Latest Electricity Bill/ Latest Telephone Bill/ Latest Credit Card Bill/ Employers letter certifying current mailing address/Passport(Valid)- provided the passport address is present address mentioned in application form / Existing Registered House Lease |
| Proof of telephone | Latest bill of landline or mobile or WLL stating name of borrower or address of borrower |
| Guarantor | Optional |
- Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers
- Documentary proofs required may vary from customer to customer
0 comments:
Post a Comment