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.

Overview
  1. 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.
  2. It is an unsecured loan because the lending authority or institution does not require any collateral security or mortgage.
  3. 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.
  4. This is an informal method to raise funds as it involves lesser documentation and the sanctioning process is faster.
  5. Even borrowing from a friend or relative is also considered as obtaining personal loan.
Documents

PRE SANCTION DOCUMENTS :-

  1. Age Proof : Pan Card/ Passport/ Driving License etc.,I
  2. dentity Proof : Adhaar Card/ Voter’s ID Card/ Passport/ Driving License/ Ration Card/ Pan Card etc.,
  3. Residence Proof: Electricity bill/ Passport/ Telephone bill/ Mahanagar Gas/ Title deed/utility bill/municipal tax receipt / Government-issued employee residence proof / Ration card.
  4. Income documents for :
    1. Self employed - 3 yrs Income Tax Returns..
    2. Salaried - Form 16 for last 3 yrs & Salary certificate for previous three.
  5. Copy of bank statement for previous six months, reflecting salary or the regular business transactions.
  6.  Work Experience :- Minimum two yearfor salaried as well as self employed.
  7. 4 Photos.
Process

These are following steps taken by banks during process of loan.

  1. Application form is login.
  2. Personal Discussion is done by bank officer with customer.
  3. Bank's Field Investigation (All documents are Verify by bank which given with application form)
  4. Bank cheques CIBIL report.
  5. Sanction Letter.
  6. Signing of agreements and submitting post-dated cheques.
  7. Disbursement.
Eligibility

Eligibility Criteria

 

  1. Age Proof : Pan Card/ Passport/ Driving License etc.,I
  2. dentity Proof : Adhaar Card/ Voter’s ID Card/ Passport/ Driving License/ Ration Card/ Pan Card etc.,
  3. Residence Proof: Electricity bill/ Passport/ Telephone bill/ Mahanagar Gas/ Title deed/utility bill/municipal tax receipt / Government-issued employee residence proof / Ration card.
  4. Income documents for :
    1. Self employed - 3 yrs Income Tax Returns..
    2. Salaried - Form 16 for last 3 yrs & Salary certificate for previous three.
  5. Copy of bank statement for previous six months, reflecting salary or the regular business transactions.
  6.  Work Experience :- Minimum two yearfor salaried as well as self employed.
  7. 4 Photos.