Overview
Personal loan is an unsecured loan available to salaried person. You can raise funds without any security /collateral with fast approval and minimum documentation. The personal Loan is just what you need to address your diverse financial needs – be it marriage expenses, unexpected medical expenses, or any other personal expense, you can now look forward to getting the financial support you need, without any hassles.
Features & Our Assistance
• No Collateral or Security required • Loan Amount up to 20 Lacs • Easy and simple documentation • Hassle Free and Fast Processing Time • Convenience of Service at your doorstep • Flexible repayment options, 12 to 60 months
Eligibility & Documents Required
Eligibility Criteria
Your eligibility depends upon your repayment capacity as determined by Financial Institution. Factors like your income, age, qualifications, number of dependants, spouse’s/Co-applicant income, assets, liabilities, savings history, stability, property value and continuity of occupation are considered while computing your eligibility.
Documents required
• Duly filled application • Identity proof: (Pan Card / Passport / Ration card / Voter Id Card) • Passport size Photographs of all applicants • Business Proof • Latest Address Proof • Last 2 years income tax return of directors / partner • Last 12 months bank statement of main operating account of the firm • Audited financials • Certified copies of MOA /AOA / Partnership deed as applicable • Professional qualification certificate , if applicable • Existing Loans Sanction Letter/Repayment track if any
Frequently Asked Questions: FAQ
1) What is a Personal Loan?
Business Loans are the easy fast and Unsecured Loans offered to you by bank. You can use it for any personal purpose
2) What are the loan tenure options?
Personal loans can be availed for a tenure up to 12 to 60 Months.
3) Are there any additional charges?
A processing fee up to 2% depending on Banks, of the loan amount is payable upfront. This fee will be deducted from the disbursal amount payable to you.
4) How many days does it take to process the loan?
On submission of your entire documents in accordance with the Bank requirements it takes maximum up to 48 Working Days. All loan approvals are at the discretion of the Bank
5) How do I repay the loan?
You can repay the loan through Equated Monthly Installments (EMIs) which can be paid either by post dated cheques in favour of Lending Bank, or through ECS facility.
6) Do I have to offer any security or provide any guarantor for my personal Loan?
To obtain the loans there is no need to provide any security or collateral.