A personal loan is a loan that does not require collateral or security and is offered with minimal documentation. You can use the funds from this loan for any legitimate financial need. Like any other loan, you must repay it accordance to the agreed terms with the bank.
A personal loan is money you borrow from a bank or other financial institution with a set repayment period and consistent monthly payments. Most personal loans are unsecured, so you won't have to put down collateral to borrow the money.
Features
► Loan Limit : Maximum Upto Rs. 2.00 Lacs.
► Repayment : 2 to 3 Yrs
► No Pre-payment Penalty.
► Rate of Interest : Attractive ROI
► Service Charges : As per Bank Norms
► Pre closure Charges: applicable time to time
Eligibility
► For Salaried Persons :
- Customer Should member of the bank
- Employees of reputed and financially sound organization.
- Minimum Gross take home salary of INR.25,000/- per month and Confirmed service for at least one year.
- Undertaking letter from employer.
► For businessmen & Professionals :
- Customer Should member of the bank
- Business should have establishment of minimum of three years.
- Statutory document for business ex:GST
► Guarantors: - 2 Guarantors required.
Documents required
► Duly filled form with :
- Income Proof of Applicant(s) & Guarantor(s)
- Residential Proof of Applicant(s) & Guarantor(s)
- PAN Card of Applicant(s) & Guarantor(s)
- KYC of Applicant(s) & Guarantor(s)
- No Prime Security
- Two Acceptable Guarantors and Security holders to be also taken as guarantors and should be member of the bank.
- Other Charges : As per Bank Norms