Personal Loan
Personal Loan as the name indicates is the loan sanctioned to a person to accompolish his/her personal needs. We provide, end-to-end solutions to our customers to get the best personal loans at attractive interest rates.
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Personal Loan as the name clearly indicates is the loan sanctioned to a person or an individual to meet his or her Personal immediate cash requirement. It is also known as
Signature Loan
. - It is an unsecured loan because the lending authority or institution does not require any collateral security or mortgage.
- Personal Loans are granted on the basis of past payment or debt history, credit ratings, borrowers income, repayment ability etc. though the credit rating is not at all mandatory.
- This is an informal method to raise funds as it involves lesser documentation and the sanctioning process is faster.
- Even borrowing from a friend or relative is also considered as obtaining personal loan.
PRE SANCTION DOCUMENTS :-
- Age Proof : Pan Card/ Passport/ Driving License etc.,I
- dentity Proof : Adhaar Card/ Voter’s ID Card/ Passport/ Driving License/ Ration Card/ Pan Card etc.,
- Residence Proof: Electricity bill/ Passport/ Telephone bill/ Mahanagar Gas/ Title deed/utility bill/municipal tax receipt / Government-issued employee residence proof / Ration card.
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Income documents for :
- Self employed - 3 yrs Income Tax Returns..
- Salaried - Form 16 for last 3 yrs & Salary certificate for previous three.
- Copy of bank statement for previous six months, reflecting salary or the regular business transactions.
- Work Experience :- Minimum two years for salaried as well as self employed.
- 4 Photos.
These are following steps taken by banks during process of loan.
- Application form is login.
- Personal Discussion is done by bank officer with customer.
- Bank's Field Investigation (All documents are Verify by bank which given with application form)
- Bank cheques CIBIL report.
- Sanction Letter.
- Signing of agreements and submitting post-dated cheques.
- Disbursement.
Eligibility Criteria
- Age Proof : Pan Card/ Passport/ Driving License etc.,I
- dentity Proof : Adhaar Card/ Voter’s ID Card/ Passport/ Driving License/ Ration Card/ Pan Card etc.,
- Residence Proof: Electricity bill/ Passport/ Telephone bill/ Mahanagar Gas/ Title deed/utility bill/municipal tax receipt / Government-issued employee residence proof / Ration card.
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Income documents for :
- Self employed - 3 yrs Income Tax Returns..
- Salaried - Form 16 for last 3 yrs & Salary certificate for previous three.
- Copy of bank statement for previous six months, reflecting salary or the regular business transactions.
- Work Experience :- Minimum two years for salaried as well as self employed.
- 4 Photos.
