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Punjab Gramin Bank Personal Loan | How To Apply?, Purpose, Documents Required, Eligibility Criteria, Types of Loans

Punjab Gramin Bank Personal Loan | How To Apply?, Purpose, Documents Required, Eligibility Criteria, Types of Loans

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Punjab Gramin Bank Personal Loan: Punjab Gramin Bank helps rural people so that they can uplift their living standards. The three districts of Punjab have around 264 branches of Punjab Gramin Bank. You’ll be offered different types of deposits and loan schemes from this bank.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Punjab Gramin Bank

Punjab Gramin Bank Personal Loan Purpose

These personal loans are primarily helpful for financially weak people and living in rural areas. The primary purpose of providing personal loans is to help the borrower meet all personal needs. There could be many reasons for a person who’s applying for a loan, like for children’s education expenses, medical expenses, wedding expenses, or even travel (domestic and foreign) expenses.

Punjab Gramin Bank Personal Loan Key Points

  • The minimum age required for this personal loan is 21, and the maximum age required for this personal loan is 58.
  • The one applying for this loan should have a CIBIL score of 750 or greater than that.
  • 9.99% per annum is an approximate interest rate for Punjab Gramin Bank Personal Loan.
  • The repayment period for the loan could be 12 months to 60 months.
  • The Processing fees for Punjab Gramin Bank are around 1% to 2%.
  • The bank decides the prepayment charges for the loan.
  • The bank also decides the part payment charges for the loan.
  • The minimum loan amount provided by this bank is Rs. 5000.
  • The maximum loan amount provided by this bank is Rs. 4 Lakhs or 20 times the salary.

Punjab Gramin Bank Personal Loan Eligibility Criteria

  • The one applying for this loan must have a CIBIL score of 750 or above.
  • The minimum age required for this personal loan is 21, and the maximum age required for this personal loan is 58.
  • One should have a minimum income of around Rs. 15,000 to Rs 25,000, then only eligible for this loan.
  • It would help if you were a Salaried/ Self-Employed/ Pensioner.

Punjab Gramin Bank Personal Loan Documents Required

  • One requires a Copy of Passport, Driving License, Aadhaar Card, Voter ID Card as identity proof.
  • For proof of address, one can submit the documents: Rent Agreement (Min. 1 year of stay), Utility Bills, Proof of permanent residence, Ration card, Bank Account Statement, Latest Credit Card Statement.
  • When applying for a loan, your income proof is a must, and you can submit the following documents like income proof.
  • ITR: Last two financial years( For self-employed), Salary Slip of Last six months for Salaried Employees, Bank Statement of last three months.

Punjab Gramin Bank Personal Loan Processing Time

  • Fast processing
  • It needs less paperwork
  • A processing fee may vary and can be asked by the bank

How to Login in Punjab Gramin Bank Portal?

  • You have to visit the official website of Punjab Gramin Bank.
  • You can see the login button on the top right corner of the page. Click on it.
  • You can now use your mobile number, username, and password for login.

Punjab Gramin Bank Customer Care

There are four ways for contacting the Punjab Gramin Bank customer, and they are as follows:

  • By Phone: You can call Punjab Gramin Bank on 1800-180-7777 (toll-free)
  • Callback Request: You can also request a call back by visiting the bank’s website
  • Online Chatbot: You can also get your queries answered by the iPal chatbot online
  • Branch Visit: You can see the nearby Punjab Gramin Bank branch to get your queries.

How to Apply for Punjab Gramin Bank Personal Loan?

If you are willing to apply for a loan in Punjab Gramin Bank, then kindly visit the website of this bank.

Punjab Gramin Bank Personal Loan Application Status

The points mentioned below must be followed when one is checking their Punjab Gramin Bank Personal Loan

Application Status:

  • Visit the bank branch personally where you had applied for the loan and give the loan officer your loan application details.
  • Visit the website of Punjab Gramin Bank and fill in your loan details.
  • Send your loan details to the bank via email.
  • Through the I-mobile app of the bank
  • These methods enable you to track your loan status easily.

Punjab Gramin Bank: Repayment as Equated Monthly Installments (EMI)

Any one of the following methods can be used to repay the loan:

  • Standing instruction registration at your bank
  • Through Internet Banking solution
  • Automated Payment through ECS (Electronic Clearing Service)
  • Through Mobile Banking App, if provided by the bank

Different Personal Loan Offers by Punjab Gramin Bank

Home Loan

This bank also offers a home loan. The eligibility criteria are discussed below;

  • The one applying for this loan should have a minimum age of 21 years, and the maximum age should be 60 years.
  • If you have a regular income then only, you should apply for a home loan.
  • Earn more than the required monthly income.

Personal Loan for Government Employees

The Punjab Gramin Bank provides personal loans to all government employees. The amount of personal loans depends on the company you are working in.

Education Loan

  • If you are studying in India, you’ll be offered around 10 lac rupees education loan. And if you are studying abroad, you’ll be offered around 20 lac rupees education loan.
  • Four lakhs rupees is the loan limit for education loans.

Personal Loan for Pensioners

If you are a pensioner, you would be asked for a processing charge.

For Pensioners, the personal loan interest rate is quite affordable.

Personal Loan Balance Transfer

If you are transferring the sum to another institution, it’s known as a Personal Loan balance transfer.

The interest rate for personal loan balance transfer is relatively low.

It also provides the facility of long repayment tenure.

Top 3 Reasons of Rejection of Personal Loan Application in Punjab Gramin Bank

  • Poor Credit Score: When there is a calculation of the creditworthiness of any person, then the credit score is used. Your credibility to repay the loan without mistakes is also determined using a good credit score. The lenders also use a credit score to assess the risk of default. Mainly lenders reject your loan application based on your poor credit score. You should be careful if you have a credit score less than 750 because you can face personal loan rejection problems.
  • Higher Size of Existing Debt: The lender may reject your loan application if you have already taken a lot of loans and the loan to net income ratio is above 40%
  • Higher Loan Enquiries: Inquiry means when you are applying for credit and asking for your credit bureaus’ credit report.

Such inquiries are considered hard inquiries by the credit bureau, and it’s also mentioned in your credit report.

If inquiries are available free of cost, you should not make too many inquiries. Too many inquiries hurt your credit score.

Conclusion on Punjab Gramin Bank Personal Loan

That’s all we can discuss Punjab Gramin Bank Personal Loan in our article. If you are looking for a personal loan in this bank, we hope this article will be helpful and informative. If you found it informative and helpful, then share it with your friends and families too. We would like to see your reviews too.

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Dombivli Nagari Sahakari Bank Personal Loan @ 11.95% Schemes, Documents Required, EMI Calculator and Rate of Interest

Dombivli Nagari Sahakari Bank Personal Loan @ 11.95% | Schemes, Documents Required, EMI Calculator and Rate of Interest

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Dombivli Nagari Sahakari Bank Personal Loan: A bank loan is a major part of citizenship. Personal loans are important for all people, regarding many sorts of investments like purchasing electronic gadgets, or for starting a business, sometimes for home loans, or for investing in children’s education.

People, who suffer from undergoing economical crunches, can get a lot of facilities, provided by Dombivli Nagari Sahakari Bank under several schemes. The schemes are designed masterfully, so that needy man can get help easily, on various occasions mentioned earlier.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

This content will explore some crucial matters including loan calculation of this bank, the interest rate of purchasing motorcycle and Dombivli Nagari Sahakari bank rate of interest for other purposes.

Dombivli Nagari Sahakari Bank

Schemes of Personal Loans Given by Dombivli Nagari Sahakari Bank

Utsav Loan Scheme provided by DNS Bank

  • Purpose- In this scheme, a personal loan is given to individuals for purchasing electronic gadgets like television, refrigerator, air-conditioner, microwave oven, pc, water heater and all consumer durable items including a motorcycle.
  • Eligibility- The consumer has been employed by a govt. or non-govt. job, or must be a self-employed person. This is all that the eligibility criteria need.
  • Loan limit- One can lend the maximum amount of Rupee 1lacs according to Indian currency.
  • Minimum Net Salary- It is as mentioned by the bank’s criteria.
  • Citizenship- The individual must be a citizen of India and should live in the country.
  • Age- This criterion will be mentioned by the Dombivli Nagari Sahakari bank itself.
  • Repayment schedule- The consumer must repay the loan he has taken within thirty-six months.
  • Guarantors- There should be two guarantors with the consumer if he cannot repay the money within time. This is absolutely necessary for the scheme.
  • Security- The security the bank will provide under this scheme, is the hypothecation of the purchased article.

Subidha Loan Scheme provided by Dombivli Nagari Sahakari Bank

  • Purpose- This loan is provided on the purpose of repaying old debts, in some ceremonial purposes, like opening a new business, or for children’s marriage or education, for medical expenses, for tourism loans and etc. There may be other reasons and certainly those would be acceptable to the bank acceptable to the bank.
  • Eligibility- Any individual can have the opportunity to have this bank loan. Indian citizenship is necessary.
  • Loan Limit- This scheme will provide the maximum amount of Rupees 5 lacs according to the Indian currency.
  • Minimum Net Salary- This amount would be set by the bank itself.
  • Citizenship- The consumer must be a residential citizen of India.
  • Age- This criteria would also be set by the bank itself.
  • Repayment Schedule- The amount must be repaid within sixty months maximum under this scheme of personal loan.
  • Guarantors- There should be two guarantors minimum in case the borrower fails to repay the money within the given time.
  • Security- The security provided by this scheme is a Group Insurance in the name of the borrower/co-borrower. The amount is equivalent to the loan amount.

Documents Required for Dombivli Nagari Sahakari Bank Personal Loan Application

  1. KYC Documents
  2. Income papers like, for business person copy of latest ITR (if ITR of year 2019-20 is unavailable, ITR of 2018-19vcan also be provided), and for salaried individuals, copies of latest three months salary slip is to needed.
  3. If the borrower cannot fill the ITR, then s/he must submit the declaration of his/her income.
  4. Proof of address like, voter card, passport, Aadhar card, Ration card etc are to be needed.
  5. As a document of age, one needs to submit his/her birth certificate.
  6. As an identity proof, one needs to submit voter card, Aadhar card, Ration card and etc.
  7. And the borrower’s passport size photograph is also needed.
  8. The borrower absolutely must be a resident citizen of India.

All about the Rate of Interest

For the case of Utsav Loan Scheme, the rate interest for both sexes is 11.95%. And for the case of Subidha Loan Scheme, the rate of interest is also 11.95% for applicant of both sexes. It is quiet convenient for men and women to take the privilege of borrowing money under the schemes of Utsav Loan Scheme and Subidha Loan Scheme.

EMI Calculation for Dombivli Nagar Sahakari Bank’s Personal Loan

The calculation procedure may be easily understandable if there is an example. Let’s imagine that a person lends the amount of Rs.50,000 at an interest rate of 10% p.a. for a tenure of 1 year. The processing fee is 1% of the loan is availed by the customer. For the repayment scale of twelve months, with the addition of processing fee, rate of interest over the principal amount, that person will have to pay Rs.4,395.

More About Dombivli Nagari Sahakari Bank’s Personal Loan Details

  • The processing fee is Rs.500, as per the previously mentioned in the columns.
  • There may be some other foreclosure charges would be mentioned by the bank itself. One must prepare him/herself on that account, on borrowing money.
  • There must be two guarantors with the borrower, in case it is not repaid. So, their details are also very necessary and crucially important.
  • The loan amount would be received by the borrower in his/her bank account that had been mentioned in the loan application form.
  • The applicant can apply from a nearest branch of Dombivli Nagari Sahakari bank, or from the branch where the person holds a valid account.
  • Security terms are as they are previously mentioned.
  • A GST rate of 18% will be applicable on banking services and product is applicable from 01 July, 2017. So, for this purpose, it also would be applicable.
  • The rate of interest is 11.95% for both sexes, and both both schemes of having personal loan under Dombivli Nagari Sahakari Bank.
  • The borrower must be a residential citizen of India.
  • The documents are necessarily to be submitted as a proof and record of identity and address. Aadhar card, voter card, birth certificate, passport, ration card and passport size photos are absolutely necessary.
  • The terms and conditions regarding the salary of the borrower would be mentioned by the Dombivli Nagar Sahakari Bank itself.

So, Dombivli Nagari Sahakari Bank offers personal loans with attractive interests. It can be helpful to consumers a lot, for health, ceremonial, educational and other purposes like to be free of debts, and purchasing some new gadgets essential for household and daily city life.

So, this article may successfully serve the work of attracting people to have the opportunity to have the privilege of this outstandingly interesting and attractive scheme.

So, the citizens of India who now undergo much economic turmoil due to the pandemic and other reasons may try out through these schemes of personal loans. After all, the bank serves citizens with lots of convenient ways to reach out economical stability.

The schemes are under security services, so people can avail themselves of those trustfully without hesitations. After all, being freed from loan debts is moving towards a secure future.

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Janata Sahakari Bank Personal Loan | Characteristics, Documents Required, Benefits and Eligibility Criteria

Janata Sahakari Bank Personal Loan | Characteristics, Documents Required, Benefits and Eligibility Criteria

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Janata Sahakari Bank Personal Loan: Janata Sahakari Bank offers all monetary benefits recurring deposit, net banking, personal loan, education loan. Car loan, etc.

The chief purpose of the bank is to assure that finance is given to the economically backward category of the community. Personal loans can be utilised for a lot of reasons! Whether one requires budgets for a wedding, for a medical crisis, or to renovate & glorify the house to a fantasy residence.

If you are looking for any bank to take a loan without getting anxious about holding any collateral, Janata Sahakari Bank is suitable for you.

This article has the details of Documents needed for Janata Sahakari Bank Personal Loan, loan eligibility for Janata Sahakari Bank Personal loan, Features, and purposes of Janata Sahakari Bank personal loan, etc.

Want to compare Janata Sahakari Bank Personal Loan with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

Janata Sahakari Bank

Janata Sahakari Bank Personal Loan Aim

Its main aim is to fulfill all kinds of monetary requirements like a vacation outing, home shifting, wedding credit card bill payment, reimbursement of a prevailing loan, medical crises, and several others.

Janata Sahakari Bank Personal Loan Eligibility

  • Age needs to be between twenty-one to fifty-eight years.
  • Needs to be Stable workers of State or Central Government or esteemed establishments.
  • Needs to have regular income whether the person is salaried or self-employed.
  • Working experience at the current job should be at least three years.

Janata Sahakari Bank Personal Loan Documents Required

  • Signed and filled up an application for a personal loan.
  • Passport size Photo
  • identity proof like Passport, Voter ID, driving approval license, Aadhar card, etc. is needed.
  • Income evidence, the recent earnings receipt showing all records or Form 16 with a recent income statement for salaried persons is needed.
  • Address proof- Bank statement declaration, electricity bill recent, mobile recent bill, etc. is needed.
  • Bank declaration having updates of recent 6 months.

Reimbursement of Personal Loan at Janata Sahakari Bank

60EMIs is the permitted limit for reimbursement of personal loans and it begins from 12EMIs. And this entire reimbursement produce relies on the credit value.

Characteristics and Benefits Janata Sahakari Bank Personal Loan

  • Supplies maximum loan payment
  • Offers many loan reimbursement choice
  • Generally, no assurance is needed for taking a personal loan
  • The quick and uncomplicated process of a personal loan petition is available
  • A guarantor is not asserted up by the bank
  • Impressive and active rate of interest
  • Gives unique policies and deals for workers of big firms
  • Term of the loan: 60months (about 5 years) is the maximum term

Reasons for Preferring Janata Sahakari Bank Personal loan

  • Reasonable interest rate
  • Processing expense is low
  • Security is not needed
  • No limitation on use
  • Can prepay the loan amount

Reasons for Personal Loan Rejection

The low credit value can be a reason for the rejection of a loan as credit value shows the credit reliability of the person. Thus, good credit value shows that the person can repay the loan without default while low credit value leads to the rejection of the loan application. A higher value of the prevailing loan reduces the chance of getting a new loan.

Individuals who can take Janata Sahakari Bank Personal Loan

  • Salaried workers
  • Self-employed people
  • Professionals with steady earning
  • Business people

Myths about Personal Loan from Janata Sahakari Bank

Some Myths about taking a Personal Loan from the Janata Sahakari Bank are:

The low-interest rate for a personal loan is best: It is not always correct as many other factors are also important while selecting a lender for a loan. Factors like tenure of the loan, processing expense, reimbursement term, eligibility of the amount of loan sanctioned, etc. play key a role in the loan selection process.

Pre-Payment of loan captivate penalty: It is not always correct as it relies upon the one lending to charge any prepayment liability as in some cases lender might not charge any prepayment liability.

The rise in the rate of interest increases monthly installments: This is not right as the loan was ta a taken at a fixed interest rate would not change and for a loan with a floating rate, if the person does not want monthly installment to increase, then he or she choose an increase in the term.

Loan application gets rejected if the individual does not have regular earning: This is not fully correct as a loan can be supplied if the applicant adds a joint holder.

There is a belief that a higher loan payment term is preferable as the person will have to pay lower monthly installments but it is not correct as longer-term loan payment brings rise to high rate of interest and interest needs to be paid for a longer-term.

Only people with salaried jobs can apply for personal loans: It is a popular notion that only individuals doing salaried jobs having a fixed income can apply for personal loans.

But somebody who is self-employed and an industry possessor can also take personal loans. Instead of the profession, the credit conclusion is led by the person’s borrowing ability and ability to pay the loan in time.

A person with low credit total cannot get a personal loan approved: Credit score Is just one of the several factors responsible for loan approval and several other components play a key role in the loan approval procedure, some of them are the age of the applicant, earning, income, job category, etc.

Conclusion

If one wishes to apply for a personal loan, knowing the interval and documentation is an essential factor in applying for any loan.

This specific article will help you in knowing more about Personal loans given by Janata Sahakari Bank, it’s the rate of interest, goals and as eligibility norms, documents needed, etc. The bank is incredibly glad to cater to the monetary needs of the public

It has several repayments options along with an impressive rate of interest which is a constructive factor in the case of a personal loan.

This article is meant to familiarize you with the features of a personal loan so that it can be simple for an individual to choose a purposeful loan suitable to meet their needs. No matter what the monetary purposes are Kalyan Janata Sahakari Bank’s loan gives you a right result.

FAQ’s on Janata Sahakari Bank Personal Loan

Question 1.
What is meant by Janata Sahakari Bank Personal loan?

Answer:
Janata Sahakari Bank Personal loan can be taken from Janata Sahakari Bank which is an unsecured loan, used to deal with any kind of monetary necessity.

Question 2.
What is the monthly installments in Janata Sahakari Bank Personal loan?

Answer:
EMI is the money amount that a person borrowing the money needs to reimburse every month to the bank to pay off the obligation within a particular term.

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Axis Bank Personal Loan | Features, Advantages, Purpose, Eligibility, Documents Required

Axis Bank Personal Loan | Features, Advantages, Purpose, Eligibility, Documents Required

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Axis Bank Personal Loan: With assets of 7475 crores, Axis Bank is the country’s largest private sector bank by market value. Mumbai is the company’s headquarters. In 1994, Axis Bank was established as a financial institution. 747512922 ATMs and 2589 branches across India are its total assets. A wide range of financial services is available to consumers, including savings deposits (fixed and recurring), a variety of home loans, personal loans (such as automobile and education loans), gold loans, PPF accounts, lockers, online banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha, etc. Bima Yojana, the Pradhan Mantri Jeevan Jyoti Bima Yojana, and many more are included.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Find out about the Axis Bank two-wheeler loan’s purpose, eligibility, margins, repayment of personal loan, security, and documentation requirements for a personal loan from the information provided below.

Axis Bank Personal Loan Features And Advantages

  • You can borrow the maximum amount of money.
  • Options for repaying debt in a variety of ways are available.
  • Personal loan applications are processed very quickly and easily.
  • Approval of a loan quickly.
  • The bank does not require a guarantor for a loan application.”
  • The most affordable rates in the market
  • Employees of large corporations are eligible for special programs and discounts.
  • Personal loans typically do not require security.

To apply online, you must visit the Bank website, fill out your personal and employment details, and attach any essential papers. Check your loan eligibility before applying. You can apply for a loan in person at any Bank branch with all necessary paperwork, fill out the form, and begin the loan approval procedure.

What is the Purpose of Axis Bank’s loan?

Loans can be used for everything from paying for a vacation to transferring your home to paying your credit card account, all without having to put up any collateral or assets.

Personal Loan Eligibility at Axis Bank

  • From the ages of 21 to 58.
  • Public sector, private sector, and reputable enterprises’ long-term employees; those who are employed permanently
  • Salaried/Self-Employed with a steady paycheck.
  • Up to three years of experience in the current job/business/profession

Required Documents for Axis Bank Personal Loan

  • The personal loan application form has been filled out and signed.
  • Photographs
  • If you don’t have a valid ID (such as a passport or driver’s license), you may be asked to provide one.
  • Proof of income – the most current pay stub that shows all deductions, or Form 16 together with the most recent salary certification (for salaried individuals)
  • Documents proving income, such as tax returns from the past two fiscal years (for other than salaried individuals)
  • A recent bank statement, an electricity bill, a cell phone bill, or a credit card statement might all serve as evidence of your current residence—existing leasing arrangement for a house.
  • Statement or Passbook with six months of entries in it

How Much Can I Borrow from Axis Bank?

As much as Rs.15,000,000

Axis Bank Repayment of Personal Loans

Personal loans can be repaid in as many as 60 installments. It starts with 12 EMIs. Additionally, your credit score influences how long it will take you to pay back what you owe. Equivalent Monthly Instalments for Axis Bank’s Repayment Plan (EMI)

The following repayment options are available:

  • You can set up payment with your bank.
  • Internet banking can be accessed
  • Payment via ECS is automated (Electronic Clearing Service)
  • You have access to a bank’s mobile banking app

When is a Personal Loan Application Rejected?

Negative credit history: Anyone’s credit score is used as an indicator of a person’s ability to repay a loan. A high credit score determines your ability to repay a loan without defaulting on it. For a lender, a good credit score is critical in assessing the likelihood of default. Lenders refuse many personal loan applications due to a bad credit score. People with credit scores lower than 750 may have difficulty getting a personal loan.

More Debt Currently Exists: If you have already borrowed a lot of money and your loan-to-income ratio is above 40%, lenders may decline your loan application.

Loan Requests Increase: As soon as you apply for a loan, the lender requests your credit report, which is referred to as an inquiry. Such inquiries are considered hard inquiries by the credit bureau and appear on your credit record. Even though the service is free, you shouldn’t bother asking too many questions.

Some of the Common Misconceptions Around Personal Loans

Defaulting on a Personal Loan entails a penalty of some kind

Prepayment of a Personal Loan does not always result in a penalty if it is done early. If a lender charges a prepayment penalty, it is on to the borrower to pay it. Several financial institutions waive Prepayment penalties.

The Lowest Interest Rate Personal Loan is the Best

Personal Loans with the lowest interest rates are not necessarily the best option. Aside from interest rates and fees, consider other factors when looking for the best personal loan provider. Components such as the processing charge and repayment terms are included in this list. In addition to the lowest interest rate, you need to take into account all of these factors.

Increases in the interest rate on Personal Loans lead to higher monthly payments

Even if rates rise, borrowers with fixed-rate loans won’t be impacted. To avoid rising EMIs on a floating-rate loan, you might lengthen the length of your repayment period.

If you do not have a steady source of income, your personal loan application will be rejected

A personal loan application can be granted, even if your regular source of income is not consistent enough for you to qualify for a personal loan. An additional income from a co-borrower or peer-to-peer lenders can get loan approval on your behalf.

Loans with longer repayment terms are preferable

Longer personal loan payback terms are generally thought to be preferable since borrowers are more likely to qualify for low-interest loans that they can afford, but this is not necessarily true, according to experts. Increased interest costs come with longer repayment terms. Because of this, you will have to pay interest for an extended length of time.

Prices for borrowing money can’t be altered

It’s possible to get a personal loan with a variable interest rate. Borrowers are willing to cut their interest rates for customers with good credit scores and a steady income.

Guarantees of a good credit score Approval for a Personal Loan

It is not enough to have a decent credit score to get a personal loan since there are additional variables that lenders take into account when deciding whether or not to grant the loan.

Conclusion on Axis Bank Personal Loan

A borrower’s credit score is only one of several factors taken into account when determining whether or not to approve a house loan. Despite having a strong credit score, you may still be denied a home loan if other indicators are lacking. It’s possible to receive a home loan with terrible credit, but the interest rate is likely higher. Other considerations, like the borrower’s age and income, play a role in approving a home loan. If you have a question about your Axis Bank account balance, you can check your account balance by texting a specific number. You can also use the Axis Bank internet banking app to make transactions.

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Nasik Merchants Cooperative Bank Personal Loan | How To Apply? Eligibility, Documents Required and Myths

Nasik Merchants Cooperative Bank Personal Loan | How To Apply? Eligibility, Documents Required and Myths

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Nasik Merchants Cooperative Bank Personal Loan: To provide banking and financial services for everyone, the Nasik Merchants Co-operative Bank Ltd was created in 1959 and has grown stronger with each year. While it began with a few branches in Maharashtra and Gujarat, it has grown to include 81 locations. It was granted Scheduled Bank status in 1996 and offered a wide range of services to its clients, including loans, deposits, insurance, Aadhaar card connection, and franking and cash transfer services. It is headquartered in New Delhi.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Nasik Merchants Cooperative Bank

How may a Personal Loan be of Assistance to You?

Having the ability to meet a wide range of financial obligations such as taking a vacation abroad, relocating your household, marrying your family, paying a credit card bill, repaying a previous loan, dealing with medical emergencies, and a slew of other obligations without having to worry about keeping any collateral or property.

How to Apply for a Personal Loan Against a Nasik Merchant Cooperative?

  • To apply online, go to the Nasik Merchant Cooperative website, fill out your personal information and employment details, and upload any relevant supporting documents. You may apply for a loan after assessing your eligibility.
  • Apply Offline: You may come in person to any of the Nasik Merchant Cooperative branches with all of the relevant documentation, fill out the application form, and get the loan approval procedure kicked off right away.

Nasik Merchants Cooperative Bank Personal Loan Eligibility

  • The age range for 21 to 58 years.
  • State and federal governments, as well as enterprises and other respectable businesses who employ employees on a long-term basis
  • They are salaried or self-employed, having a steady source of income.
  • More than three years in the same firm or profession is not permitted.

Personal Loan Eligibility is Influenced by Several Factors

There are a lot of factors that might influence a borrower’s ability to qualify for a personal loan. The variables are as follows:

  • The quantity of money you may get as a loan is determined by your age. More opportunities exist for younger individuals in terms of their professional development. The higher your credit score, the more money you are qualified to borrow when it comes to personal loans.
  • Your monthly net income is the only factor that determines your eligibility. The more money you earn, the more money you may borrow from a lender.
  • Because of the higher cost of living in metropolitan areas, urban areas are more likely to qualify for a more significant loan amount.
  • Salary earners are more likely to take out loans than self-employed individuals since they have a more stable source of income. For self-employed borrowers, their payment may vary depending on the success of their business ventures.

Nasik Merchants Cooperative Bank Personal Loan Documents Required

A photocopy of your passport and your visa Make a copy of your official email address or the email address of the human resources department.

  • Statements from the bank
  • Pay Certificates or salary slips are documents that prove your earnings.
  • Bank statements from non-residents and residents of the United States over the previous six months
  • Identification, proof of residence, income, and proof of assets is required.
  • Photographs of yourself and the guarantors that are recent passport-size photographs

Nasik Merchants Cooperative Bank Personal Loan EMI Calculator

Use our EMI calculator to estimate your monthly payments in advance, allowing you to better plan and manage your money. The Personal Loan Calculator will enable you to determine your loan eligibility and compare loans provided by various financial institutions.

All you have to do is input the loan information into the application, including your selected loan amount, interest rate, loan duration, and processing fee. The lowest applicable EMI per lakh for seven years at the lowest applicable interest rate is Rs.1599, the cheapest available EMI.

Nasik Merchant Personal Loan Repayment

The maximum number of equal monthly payments for personal loans is 60. (EMIs). Initially, there are twelve monthly payments. Your credit score also influences how long it takes you to pay off your debt.

Personal Loan Rejection: The Reasons for Denial of the Application

  • Having a Bad Credit Score: A person’s credit score is seen as a measure of their ability to get credit. A good credit score influences your ability to repay a loan without defaulting on the agreement. For a lender to determine the risk of default, a credit score is required. Many personal loan applications are turned down by lenders because of a low credit score or no credit history. A person with a credit score of less than 750 may have difficulty getting a personal loan because of their poor credit history.
  • Increase in the amount of existing debt: If you have previously taken out a large amount of debt and your loan-to-net-income ratio is more than 40%, lenders may reject your application for a loan.
  • An increase in loan inquiries: When you apply for a loan, the lender will request a copy of your credit report from the credit bureaus, referred to as a credit inquiry. Such inquiries are regarded as “hard inquiries” by the credit bureau, and they are recorded in your credit report. Even if the service is provided free of charge, you should refrain from making an excessive number of inquiries. The number of inquiries on your credit report might negatively influence your credit score.

Myths About Personal Loans

  • Pre-payment of a Personal Loan is always subject to a penalty charge: It is not always the case that pre-payment of a Personal Loan will result in a penalty. It is up to the lenders to choose whether or not to apply a pre-payment penalty. Several lenders have been identified that do not impose any penalties for early repayment of a loan.
  • The most advantageous loan is a personal loan with the lowest interest rate: It is not fair to say that the best Personal Loan has the lowest interest rate. While choosing the best lender for a personal loan, there are several other significant factors to consider. These components include the processing charge, the qualifying amount, the loan payback period, service difficulties, and other loan conditions, among others. In addition to looking for the lowest interest rate, you should consider all of these factors.
  • It is preferable to have a more extended repayment period for personal loans: It is often believed that extending the repayment term of a personal loan is preferable since the borrower would be required to pay lesser EMIs, which they can afford, but this is not the case. A more extended repayment period also results in a more significant interest outlay. You will be required to pay interest for a longer length of time.

Conclusion on Nasik Merchants Cooperative Bank Personal Loan

When determining whether or not to approve a house loan application, several factors are considered, including the applicant’s credit score. Even if you have a good credit score, your loan application may be rejected if the other criteria aren’t met. If you have bad credit, you may be able to secure a home loan, but the interest rate is likely to be higher.

Borrowers’ age and income are also considered when approving a home loan. To receive an answer to a question you may have concerning your Nasik Merchant Cooperative balance, text a particular phone number to the account statement number.

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Ellaquai Dehati Bank Personal Loan 9.99% | Interest Rates, Features, Eligibility, Document Types

Ellaquai Dehati Bank Personal Loan 9.99% | Interest Rates, Features, Eligibility, Document Types

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Ellaquai Dehati Bank Personal Loan: The Ellaquai Dehati Bank is one of the famous banks in India. This bank offers the Ellaquai Dehati Bank Personal Loan. In this specified article, we will give you the Ellaquai Dehati Bank loan Scheme details.

We will tell you about the Ellaquai Dehati Bank official website and the Ellaquai Dehati Bank personal loan Interest Rate. We will tell you what the Ellaquai Dehati Bank recruitment, the Ellaquai Dehati Bank Personal Loan EMI Calculator and the personal loan interest rates are.

This article will additionally tell you what a personal loan is and what an Ellaquai Dehati Bank Personal Loan is. We will notify you about the Interest Rate of the Ellaquai Dehati Bank Personal Loan and the other factors that affect the Interest Rate of the Ellaquai Dehati Bank Personal Loan.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Ellaquai Dehati Bank

Ellaquai Dehati Bank Overview

An Ellaquai Dehati Bank Personal Loan is a specified type of loan. It does not require any collateral or any security. A personal loan is the only kind of loan that is offered with the minimum amount of documentation.

We can apply for an Ellaquai Dehati Bank Personal Loan for various different purposes and the Ellaquai Dehati Bank offers the facility or the scheme of a personal loan. The Ellaquai Dehati Bank offers a personal loan scheme known as the Ellaquai Dehati Bank Personal Loan.

Ellaquai Dehati Bank Personal Loan Features

Here we have some of the prime features of the Ellaquai Dehati Bank Personal Loan.

  • The age limit for a salaried person is between 21 and 58 years. The age limit for a self-employed person is between 21 and 65 years.
  • The CIBIL score must be at least a minimum of around 750 or above it. The interest rate of the Ellaquai Dehati Bank Personal Loan is 9.99 % p.a. In addition to the interest rate of this personal loan, you have to pay a Ellaquai Dehati Bank Personal Loan Processing Charge.
  • The tenure of the Ellaquai Dehati Bank Personal Loan is for between 12 months and 60 months. The processing fee for the Ellaquai Dehati Bank Personal Loan is 1 % of the loan amount. The person applying for the Ellaquai Dehati Bank Personal Loan is required to pay an amount of 5% of the Loan amount plus GST as the Prepayment Charge.
  • The minimum loan amount for the Ellaquai Dehati Bank Personal Loan is Rs. 50, 000. The maximum loan amount of the Ellaquai Dehati Bank Personal Loan that you can apply for is Rs 20 Lakh.
  • The Interest Rate of the Ellaquai Dehati Bank Personal Loan is 9.99 % per annum. An additional interest rate of 24 % per annum will be applied for the Ellaquai Dehati Bank Personal Loan in case of late repayment.
  • Some other charges are required in order to apply for the Ellaquai Dehati Bank Personal Loan. You have to pay a Ellaquai Dehati Bank Personal Loan Interest rate of 9.99 % p.a. In addition to the interest rate of the personal loan, you have to pay a Ellaquai Dehati Bank Personal Loan Processing Charge.
  • The processing charge of the Ellaquai Dehati Bank Personal Loan is usually 1 % of the personal loan amount. The person applying for the Ellaquai Dehati Bank Personal Loan is required to pay an amount of 5% of the Loan amount plus GST as the Prepayment Charge.
  • The charge for the stamp duty for the Ellaquai Dehati Bank Personal Loan is as per the state laws. There is the presence of a Cheque Bounce charge for the Ellaquai Dehati Bank Personal Loan. The Cheque Bounce Charges for the Ellaquai Dehati Bank Personal Loan is Rs. 400 plus GST.
  • The person who is applying for the Ellaquai Dehati Bank Personal Loan is not required to pay any Floating Rate of Interest. The Floating Rate of Interest is not applicable to the Ellaquai Dehati Bank Personal Loan.

How to Apply for a Personal Loan in the Ellaquai Dehati Bank?

Applying Online

If you want to apply for the loan online:

  • Visit the Ellaquai Dehati Bank website and fill in the form with the required details.
  • Upload all the documents that are required.
  • Submit the form, and the bank will call you for other formalities.

Applying Offline

Visit the nearest branch of Ellaquai Dehati Bank with all the required documents, fill in the form with all the required information and submit it to the counter to get your loan approval process started.

Ellaquai Dehati Bank Personal Loan Eligibility Criteria

  • To apply for the Ellaquai Dehati Bank Personal Loan, you must fulfill certain eligibility criteria.
  • The age limit for a self-employed person is between 21 and 65 years. The minimum income to apply for the Ellaquai Dehati Bank Personal Loan for a salaried person is Rs. 30, 000 per month. The minimum income to apply for the Ellaquai Dehati Bank Personal Loan for a self-employed person is Rs. 15 Lakhs per year.
  • The person applying for the Ellaquai Dehati Bank Personal Loan can be a salaried person or a self-employed person.

Ellaquai Dehati Bank Personal Loan Documents Required

Several important documents are required in order to apply for the Ellaquai Dehati Bank Personal Loan.

  • Proof of Identity
  • Aadhar Card or your Voter ID Card
  • Proof of Address.
  • Proof of Income.
  • ITR
  • A duly filled application form for the Ellaquai Dehati Bank Personal Loan

Types of Personal Loan offered by the Ellaquai Dehati Bank

Different types of Personal Loans are offered by the Ellaquai Dehati Bank. Some of the loans offered by the Ellaquai Dehati Bank are:

  • Housing Loan
  • Vehicle Loan
  • Personal Loan
  • Consumer Loan
  • Educational Loan
  • Mortage Loan

Takeaways from the Article

In this specific article, we have given you the Ellaquai Dehati Bank Personal Loan details, Personal Loan interest rate, about what a Ellaquai Dehati Bank Personal Loan is.

We have also told you about the Ellaquai Dehati Bank Personal Loan’s Interest Rate and the factors that affect the Interest Rate of the Ellaquai Dehati Bank Personal Loan. We will also notify you about the eligibility criteria that you need to fulfill in order to apply for the Ellaquai Dehati Bank Personal Loan.

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The Greater Bombay Cooperative Bank Personal Loan @ 16% to 22% | Interest Rates, Eligibility Criteria, Documents Required, Features and Benefits

The Greater Bombay Cooperative Bank Personal Loan @ 16% to 22% | Interest Rates, Eligibility Criteria, Documents Required, Features and Benefits

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The Greater Bombay Cooperative Bank Personal Loan: The Greater Bombay Co-operative Bank Ltd, better known as the Greater Bank, had a small start 50 years ago on December 10, 1952, when a small group of benefactors came together to form the Bank.

They present attractive deposit and timely loan programs. The Bank has secured a name for itself with high-quality work, which has attracted several bank customers.

The Bank has additionally achieved significant success in the joint banking sector, especially over the past few years, due to its various objectives, strategic planning, continuous monitoring, and effective sharing with stakeholders.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Good Corporate Governance and dedicated management, and Board of Directors who have a keen interest in the life of the Bank have been instrumental in reaching the top of the Greater Bombay Co-operative Bank.

In this specific article, we have brought some vital information about this Bank. We have defined the Greater Bombay co-operative Bank Ltd share Price, about the Co-operative Bank in Mumbai, and also Self Help Group Loan interest Calculator.

The Greater Bombay Cooperative Bank

The Greater Bombay Cooperative Bank Personal Loan Overview

Greater Bombay Co-operative Bank Limited is solely committed to performing a leading role in the banking sector of society by ensuring high set standards, integrity, and compliance with the latest technology and service development through continuous development.

Business progresses of the Greater Bombay Co-Operative Bank exceeded Rs. 3313 crores for the 2018 financial year, deposits attained Rs. 1944 crores while Allowances were Rs. 1369 crores.

The Greater Bombay Cooperative Bank Features

The Interest Rates as offered to users:

The conditions for Interest The Rates of Interest
For Salaried Individuals 16%
For Non-salaried Individuals 16.50%
For Self-employed Individuals 18% to 22%
  • Product features include an appropriate 36-year-old (self-employed) up to 60-year-old (Individual) loan option as well as simplified and fast documentation.
  • To Get Identity Documents, a person needs to provide their PAN Card, Aadhar Card, Voter ID or Passport, Address Proof, Relationship Proof, Passport Size, Photo, Photo ID Card issued by central government or district government.
  • We have also covered the various Security features, the Eligibility criteria, and the interest rates for personal loans.

How to Apply for a Personal Loan in the Greater Bombay Cooperative Bank?

To apply for a Personal Loan in the Greater Bombay Cooperative Bank, they need to head over to the Grater Bombay Cooperative Bank’s Official website and click on the ‘Personal Loan’ option and press on ‘Apply’.

After filling the application correctly, applicants will be notified about the following proceedings accordingly.

The Greater Bombay Cooperative Bank Personal Loan Eligibility Criteria

The records need to be provided before one can be held as an eligible candidate for the Personal Loan are described below:

  • The ones eligible for opting for the personal loan are State Government employees, Research Institutes and Universities, The Approved and confirmed employees or Limited Companies of reputed PSUs, Lecturers of Colleges or Universities, Central Government employees.
  • All individuals who have a minimum total income of Rupees Ten Thousand on a monthly basis are eligible to apply for the personal loan.
  • The individuals to get their propositions sanctioned need to be at least (minimum age) 25 years old and up to 60 years old (maximum age) which stands for the retirement age (from service).
  • The shareholding percentage for loan amounts should be around 2.5%.

The Greater Bombay Cooperative Bank Personal Loan Documents Required

The records need to be provided before one can be held as an eligible candidate for the Personal Loan are described below:

Mandatory Category

  1. Your Original Aadhar Card
  2. Your Original PAN Card

Your Original Address Proof which can be any of these as listed below:

  1. Voter ID Card
  2. Passport
  3. Driving License
  4. Bank Statement
  5. Electricity Bill
  6. Telephone Bill
  7. Registered Lease Deed or Sales Agreement

Identity Proof which can be any of these as listed below:

  1. Voter ID Card
  2. Driving License
  3. Passport

Non-Mandatory Category

  • Relationship Proof (if you are asked to furnish one/ if applicable)
  • Passport Size Photograph of yourself
  • Any other valid Photo ID card(s) as issued by the state or central government.

The Various Security Features as Provided by the Greater Bombay Cooperative Bank

Personal Guarantors or Surety

  • The bank will provide two Personal Sureties
  • Additional Surety of the spouse (if the applicant is married) OR their father or mother (if the applicant is unmarried).

Security

  • Hypothecation of valuable goods such as the Television, Computer, Car(s), Refrigerator, Stereo System, and so on up to 100% of the loan amount in any case of the salary deduction U/s 49 of the MCS Act of 1960 or Salary credit percentage as per the ECS.
  • In all other cases, there must be 100% by way of Pledge of tangible securities viz. NSC, KVP, LIC, or something else, or the mortgage of immoveable property of the applicant.
  • About 20% of the loan amount and minimum home or monthly salary would be Rs. 15000.

The Greater Bombay Cooperative Bank Personal Loan Features

  1. Available for Any Purpose: Personal loans can be obtained for any purpose. There is no need to disclose the reason for obtaining a loan and spending.
  2. Builds a Credit Score: People who want to develop their credit scores can get this loan for a shorter and repay it on time. Then it will help to create a good foundation for them.
  3. Free Loan Approval Process: Loans are approved quickly and are repaid within 24 to a maximum of 72 hours. Some people also get pre-approval of personal loans up to a certain amount via SMS.
  4. Security is not required: As anyone thinking is an unsecured loan, the personal loan does not require any collateral or mortgage.
  5. Non-negotiable Interest Rates: Interest costs vary from customer to customer and bank to bank. Applicants with good CIBIL scores (preferably over 750) and regular income rates can negotiate interest rates and other terms with lenders.
  6. Flexible Tenure: One can decide the duration of stay according to their need and can get a repayment period of twelve to sixty months.
  7. Competitive Rate: As these loans are very demanding and popular with borrowers, many banks and NBFCs offer these loans at very low-interest rates and negotiable terms.

Takeaways from the Article

The Bank has an excellent name for itself hence attracting a number of bank customers.

After obtaining a position as an organized bank in the year of 1996, the Greater Bombay Co-operative Bank has also been making outstanding gaits in attracting customers from the lower, middle, and upper classes or income segment, which speaks a lot about the loyalty and trust of the Bank through its customers in general. Hence, you should totally go for a personal Loan from the Greater Bombay Co-operative Bank.

The Greater Bombay Cooperative Bank Personal Loan @ 16% to 22% | Interest Rates, Eligibility Criteria, Documents Required, Features and Benefits Read More »

The Thane Bharat Sahakari Bank Personal Loan @ 14% | Interest Rates, Documents Required and Requirements

The Thane Bharat Sahakari Bank Personal Loan @ 14% | Interest Rates, Documents Required and Requirements

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The Thane Bharat Sahakari Bank Personal Loan: Thane Bharat Sahakari Bank Limited is an Indian cooperative bank. The company’s headquarters are in Mumbai. Thane Bharat Sahakari Bank Limited was established on January 6, 1905. It has 31 offices and delivers a range of financial services, notably personal loans.

Applying for a loan in this bank is very convenient, all thanks to the Thane Bharat Sahakari Bank app.

In this specific article, we have discussed everything regarding the personal loan offered by the bank and also the Thane Bharat Sahakari Bank Minimum Balance, which is required to opt for the loan.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Thane Bharat Sahakari Bank Rtgs Form also ensures that there is no delay in the execution of the services. The online implementation of the services ensures that there is no added hassle, and the customers can apply for these loans from their houses.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

The Thane Bharat Sahakari Bank

The Thane Bharat Sahakari Bank Overview

The Bank is adequately equipped in the region of computerization of its duties through  RTGS, NEFT, Twenty-four ATMs, Banking through mobile,  etc. In 1979 Lbsbl was organized and is one of the leading cooperative banks in the Thane district.

How to Apply for a Personal Loan in the Thane Bharat Sahakari Bank?

  • Applying for a loan online is the most efficient and transparent approach. All banks encourage customers to apply online since it requires substantially lesser effort and time. By completing out your personal and work credentials and attaching the necessary documentation, you may apply online at the bank’s website. You can enroll when you’ve checked the loan’s accessibility.
  • If you are unfamiliar with the online process, you can go to your local branch with the necessary papers and register for the loan in person.
  • You may always contact them if you have any concerns about the procedure.

The Thane Bharat Sahakari Bank Personal Loan Eligibility Criteria

  • The very basic condition for qualification is that the person’s age should be between 21 and 58 years old.
  • For security considerations, he or she must work for the state or the central government, or he or she must have well-known employment with a well-known organization; this bank also lends money to private businesses.
  • The person should be professional or self-employed and have a constant stream of revenue to be considered for a loan.
  • For a part of the loan, the individual must have at least three years of experience and be solid and dependable.

The Thane Bharat Sahakari Bank Personal Loan Documents Required

  • A thoroughly written and signed personal loan application form is mandatory.
  • Three passport-sized photographs which were recently shot are required.
  • The Aadhar card, the voter’s ID, the driver’s license, the PAN card, the passport, or a government agency identity card as legitimate personal identification is deemed necessary.
  • As confirmation of incomes for the salaried class, a photocopy of the most recent salary slip documenting all financial transactions or Form 16 combined with a current wage record.
  • For those who are not designated as salaried, income tax returns from the preceding two budgetary years are necessary as supporting documentation.
  • The most recent electricity bill (not earlier than three months), the most recent mobile or telephone bill, the most recent credit card statement, or an active housing lease agreement are all essential as documentation of residence.
  • Bank Statements or Pass Books from the last six months are also required.

The Thane Bharat Sahakari Bank Personal Loan Features

  • Amount of loan: Maximum of Rs.5,00,000 can be taken depending on repayment capability
  • Availability: Available at all Thane Bharat Sahakari Bank sectors. If you need to apply for a private loan and begin the method online, you can moreover fill up this document and they can connect with you for moreover components.
  • Interest rate: The rate of interest for private loans starts at 13 percent.
  • Term: Private loan enables a simple reimbursement period of up to sixty months.

Types of Personal Loan offered by the Thane Bharat Sahakari Bank

  • Housing Loan
  • Education Loan
  • Personal Loan
  • Cash Credit
  • Term Loans
  • Mortgage Loans
  • Loans Under Lease Rent Discounting
  • Loans to Builders and Developers
  • Vehicle Loan

Takeaways from the Article

This bank is a reliable bank that offers personal loans at an adequate rate of interest. Their loan factors are incredibly impressive. Hope this article helps you with the information as it is important to maintain all relevant data regarding the loan you are willing to apply for as it will also help you calculate your credit value to make sure that you can qualify for the loan.

The Thane Bharat Sahakari Bank Personal Loan @ 14% | Interest Rates, Documents Required and Requirements Read More »

Mahanagar Cooperative Bank Personal Loan

Mahanagar Cooperative Bank Personal Loan @ 11.50% to 15.00% | Features, benefits, How To Apply, Documents Required and Interest Rates

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Mahanagar Cooperative Bank Personal Loan: The lending of money or cash by one or more persons or organizations or entities to another person or organization is called, in financial terms, a loan. Financial institutions or workplaces such as banks and credit card providers have been the primary providers of loans.

Personal loans can be seen as a form of installment credit. It is different from a credit card because a personal loan makes a one-time payment of cash to borrowers.

This article will discuss the Mahanagar Cooperative Bank personal loan rate of interest, Mahanagar Cooperative Bank personal loan rate of interest 2021 and the Mahanagar Cooperative Bank personal loan EMI calculator.

Want to compare Mahanagar Cooperative Bank Personal Loan with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

Mahanagar Cooperative Bank

Mahanagar Cooperative Bank Overview

The Mahanagar Cooperative Bank was established on the 6th of November, 1973 and had its headquarters in Mumbai. As a co-operative bank, it provides all the existing financial services to its customers, such as home loans, personal loans, fixed deposits, gold loan, PPF account, E-Wallet and many others.

About the Mahanagar Cooperative Bank

Originally named as “The Ahmednagar Sahakari Bank Ltd.” the new name came “The Mahangar Cooperative Bank Ltd.” into the action on 21sr January, 1998. Nine days later, the bank was given a “A” grade classification from the Reserve Bank of India.  The bank has a total of sixty-seven branches across the country. Five of their branches provide non-stop 12-hour services.

Mahanagar Cooperative Bank Features

The Mahanagar Cooperative Bank has certain salient features which makes them different from their other comparatives in the market. These features are

  • The bank has a “A” grade certificate from the Reserve Bank of India.
  • Mahanagar Cooperative Bank is the fastest growing bank in the cooperative sector.
  • They have a huge market area in the region of Maharashtra.
  • One of the few banks in the cooperative sector to have introduced the “Total Bank Automation”.

How to apply for Personal Loan in the Mahanagar Cooperative Bank

The ways for applying for a personal loan in the Mahanagar Cooperative Bank are

  • Online Application: One can apply for personal loans online through the website. Individuals can fill up their personal information and work details and upload all the necessary documents for the loan. Individuals can also apply after checking their eligibility for the loan.
  • Offline Application: Individuals can visit any branch of the bank and all the documents and information required, fill up the form and get their loan approval process to start.

Mahanagar Cooperative Bank Personal Loan Eligibility Criteria

The applicant should have a minimum of three years of service in the same organisation, and the borrowers should have an account with a branch of Mahanagar Cooperative Bank.

Deductions from income sources and others are also taken into detention to calculate the quantum of the loan. Thus, for the personal loan, an individual can be eligible for if

  • The individual is between the age of twenty-one and fifty-eight.
  • The individual should be an employee of the State or the Central Government or in any other public sector or an employee of a reputed private sector corporation.
  • The individual should have a regular flow of income, be it salaried or self earning.
  • The individual should have three years of experience in the job or work the individual is doing while applying for the personal loan.

Mahanagar Cooperative Bank Personal Loan Documents Required

The documents required by the Mahanagar Cooperative Bank to apply for a personal loan are

  • A properly filled up and signed personal loan application form along with a photograph is required.
  • Proof of identity includes a driving license, Aadhar card, Pan card, government department ID card, etc.
  • Proof of regular income includes the latest salary slip or the recent salary certificate along with Form 16. Along with these, the individuals are required to provide income tax returns for the last two financial years.
  • Proof of address includes, the latest telephone bill, Bank statement, latest credit card statement, latest electricity bill, the lease agreement of the existing house and others.
  • The banking statement or the bank passbook with the entries of the last six months.

Reasons for Rejection of the Loan

Many times, a personal loan application is rejected by the bank for various reasons. However, there are majorly three reasons which we will discuss.

  • Bad credit score: The creditworthiness of an individual determines their credit score. A good credit score indicates the individual’s credibility in repaying the loan. Conversely, a bad credit score usually hinders the chances of getting the loan application approved. Usually, an individual with a credit score of less than 750 may face rejection for a personal loan.
  • An existing debt: If an individual has already taken out several loans and the loan to net income ratio is more than forty per cent, the bank might reject the loan application.
  • Loan Enquiries: The credit report of an individual provided by the credit bureaus is known as credit enquiries. Such enquiries are done the hard way and are hence mentioned in the credit report of the individual. Even if the loan enquiries are free of cost, one should not go into too much detail. This is because too many enquiries harm the approval process of the loan.

Mahanagar Cooperative Bank Personal Loan Features

The personal loan of Mahanagar Cooperative Bank provides certain features, which we will discuss below.

  • You can grant the maximum loan amount.
  • There are many repayment options such as different installments.
  • The bank does not insist upon any guarantor.
  • The bank provides attractive interest rates.
  • The bank provides special offers and schemes of discounts for employees of big organisations.
  • The bank does not issue any security for applying for a personal loan.

Mahanagar Cooperative Bank Personal Loan Types

The Mahanagar Cooperative Bank provides a number of personal loans ranging from

  • Housing Personal Loan
  • Educational Personal Loan
  • Vehicle Personal Loan
  • Consumption Purpose Personal Loan

Myths about Personal Loan

Some well-known myths about personal loans are

Pre-payment and Penalty: One of the most common myths surrounding personal loan is the fact that pre-payment of the loan attracts penalty. This usually does not happen until and unless the lender wants to chaege any penalty.

A good credit score is needed for the approval of the loan: This myth is true but partially not completely. A good credit score is required for the approval process of the loan but in most situations the lender takes a look into the other factors of the customer such as income, type of employment, etc before approving the loan.

Negotiablity of the interest rate: Often it is misunderstood that the interest rate of a personal loan cannot be negotiated. While in reality, customers with a high credit score and good income can negotiate the rate of interest.

Conclusion on Mahanagar Cooperative Bank Personal Loan

Thus, this concludes the article detailing personal loans and, in particular, Mahanagar Cooperative Bank Personal Loan. It is very necessary to understand the basics requirements and methods to apply for personal loans. This article details a few of the important things to know and understand in order to apply for a personal loan.

Apart from the details provided in the article one must always read carefully the terms and conditions a specific bank puts out before applying to it for a loan.

Mahanagar Cooperative Bank Personal Loan @ 11.50% to 15.00% | Features, benefits, How To Apply, Documents Required and Interest Rates Read More »

Sarva Haryana Gramin Bank Personal Loan @ 9.99% | Features, Eligibility, Interest Rates, Documents Required and How To Apply?

Sarva Haryana Gramin Bank Personal Loan @ 9.99% | Features, Eligibility, Interest Rates, Documents Required and How To Apply?

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Sarva Haryana Gramin Bank Personal Loan: Sarva Haryana Gramin Bank is a government bank located in Haryana. It was established in November 2013. It comes under the regional rural bank’s act of 1976. After the amalgamation of two RRBs it came into existence, Punjab National Bank sponsors this Bank in the Indian act of 1934. It is permitted under the Reserve Bank of II, and its Bank transactions are affected by Section 5 authorization.

Want to compare Sarva Haryana Gramin Bank Personal Loan with other bank personal loans for the lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

Sarva Haryana Gramin Bank

Sarva Haryana Gramin Bank Personal Loan Key Features

  • The age limit to get a personal loan on Sarva Haryana Gramin Bank is 21 to 60 years.
  • To get a personal loan once, an individual CIBIL score should be 750 or above.
  • The interest rate in Sarva Haryana Gramin Bank is 9.9 % per annum
  • The tenure of Sarva Haryana Gramin Bank’s loan stretches from 12 to 60 months.
  • The processing fee of Sarva Haryana Gramin Bank is 1% to 2% out of the total loan amount.
  • The minimum loan amount is 0 rupees, and the maximum loan amount is rupees 20 lacs.

Sarva Haryana Gramin Bank Personal Loan Eligibility Criteria

  • CIBIL score of one individual should be 750 or above.
  • The age requirement is from 21 to 60 years.
  • The person who is getting the personal loan should be salaried or self-employed.

Sarva Haryana Gramin Bank Personal Loan Interest Rates

The interest rate of Sarva Haryana Gramin Bank personal loan:-

  • The interest rate in Sarva Haryana Gramin Bank’s loan is 9.9 % per annum.
  • The processing Fee of Sarva Haryana Gramin Bank is 1% to 2% of the total loan amount.
  • The stamp duty is applied according to state law.

Sarva Haryana Gramin Bank Personal Loan Documentation Required

Identity proof:-

  • Copy of passport.
  • Copy of driving license.
  • Copy of Aadhar Card.
  • Copy of voter ID card.

Address proof:-

  • Utility bills.
  • Passport.
  • Permanent residence proof.
  • Ration card.

Income proof

  • Last two assessment years of ITR.
  • Salary slip of past six months
  • Bank statement of past three months.

Sarva Haryana Gramin Bank Personal Loan EMI Calculator

Following given that how can you calculate your EMI using your EMI calculator:-

  • Loan amount.
  • Rate of interest of the personal loan.
  • Loan tenure.

Processing time of the Sarva Haryana Gramin Bank personal loan:-

The processing time of the Sarva Haryana Gramin Bank personal loan is from 48 to 72 hours.

Pre-closure charges of Sarva Haryana Gramin Bank personal loan:-

If your fund is ready, you can apply for it at any time. For the sake of the charges, you can make a call to their customer care, or you can visit their branch.

Sarva Haryana Gramin Bank Pre-Calculated EMI

Interest rate 5 years 4 years 3 years
15.00% 2378 2738 3466
14.50% 2352 2757 3442
14.00% 2326 2732 3147
13.50% 2300 2707 3393
13.00% 2275 2682 3369
12.50% 2249 2658 3345
12.00% 2224 2634 3321
11.50% 2199 2608 3297
11.00% 2174 2584 3273
10.50% 2149 2560 3250

Different Types of Loans Offered by Sarva Haryana Gramin Bank Personal Loan

Marriage loan of Sarva Haryana Gramin Bank:-

Sarva Haryana Gramin Bank provides a marriage loan to lower your tension about your marriage.

Personal loans for the people who are working in the public sector in Sarva Haryana Gramin Bank:-

Sarva Haryana Gramin Bank provides the public sector with special offers and special discounts on their loans.

Doctor loan of Sarva Haryana Gramin Bank:-

To meet their personal and professional needs, doctors working for more than four years can apply for a personal loan in Sarva Haryana Gramin Bank.

Balance transfer of Sarva Haryana Gramin Bank:-

You can transfer your loans in the pre-existing bank to Sarva Haryana Gramin Bank for better offers and rates.

Personal loan top up in Sarva Haryana Gramin Bank:-

You can apply for a personal loan top-up in Sarva Haryana Gramin Bank if you need extra money.

Sarva Haryana Gramin Banks Personal Loans Types

Loan for home renovation:-

Home renovation loans are provided to the people who are thinking of developing their homes. This home renovation loan can provide the borrowers to buy new furniture or to fix their houses. Following are the four major features of the Sarva Haryana Gramin Bank home renovation loan:-

  • The interest rate of home renovation loans in Sarva Haryana Gramin Bank starts from 11.25%.
  • Individuals can get up to rupees 20 lacs to renew their house.
  • Very minimal paperwork is required in the whole process of Sarva Haryana Gramin Bank’s loan.
  • The loan balance will automatically be credited to your account within 72 hours when the bank accepts your request.

Fresher funding:-

Fresher funding of Sarva Haryana Gramin banks is to help freshers in need. For example, students who are newly graduated and are looking for a new job. Give another mean feature of the Sarva Haryana Gramin banks fresher funding:-

  • Banks provide you up to 1.5 Lakh of the loan amount.
  • The age requirement is 21 years or above.

Personal loan if NRI:-

Sarva Haryana Gramin Bank provides direct personal loans to NRIs, knowing their wishes and desires. Following are the key features of the NRI personal loan of Sarva Haryana Gramin Bank:-

  • 15.50 % per annum is the NRI personal loan interest rate.
  • The term of the loan is up to 36 months.

How to Check your Loan Application Status of Sarva Haryana Gramin Bank?

Following is the process of checking your loan status of Sarva Haryana Gramin Bank:-

  • Go and visit the Sarva Haryana Gramin Bank website, select the product, and then click on the personal loan.
  • Select more and then click on review loan application status.
  • Now submit all your information and click enter, and one OTP will come in your phone and then fill the OTP, and you can check your application status.

Login in Sarva Haryana Gramin Bank portal:-

Following are the steps are given to login in Sarva Haryana Gramin Bank portal:-

  • Visit the website of Sarva Haryana Gramin Bank.
  • Click on the login button in the upper right corner of the page.
  • Log in using your phone number, password, or user ID.

Steps To Check Loan Statement Of Sarva Haryana Gramin Bank

Following orders steps given to check your loan statement of Sarva Haryana Gramin Bank:-

  • Visit the website of Sarva Haryana Gramin Bank.
  • From the dropdown column, click “get in touch” and then click “request for help.”
  • On the next page, click on” personal loan related” under the “loan menu.”
  • Now click on the “loan account statement order” button.
  • Now log in using your phone number, password, user id, and your OTP.

Customer Care Service of Sarva Haryana Gramin Bank

  • By phone: you can dial 01262-243111 toll-free number of Sarva Haryana Gramin Bank.
  • Order callback: You can make a return call to solve your queries through the Bank’s website.
  • Online chatbot: you will get an online chatbot to answer your queries or any queries.
  • By visiting the branch, you can visit the nearest Sarva Haryana Gramin Bank branch in your local area to give your request or solve any queries.

Sarva Haryana Gramin Bank Personal Loan @ 9.99% | Features, Eligibility, Interest Rates, Documents Required and How To Apply? Read More »

Capital Small Finance Bank Personal Loan @9.99% | Advantages, Characteristics, Factors, Eligibility, How To Apply?

Capital Small Finance Bank Personal Loan @9.99% | Advantages, Characteristics, Factors, Eligibility, How To Apply?

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Capital Small Finance Bank Personal Loan: Capital small finance banks supply economic aid to clients like recurring deposits, house loans, car loans, lockers, etc. One can also use this loan to meet all monetary needs such as paying credit card bills, vacation trips, and reimbursement of a prevailing loan without being distressed about keeping any collateral or estate.

It is necessary to find out which personal loan is ideal for you, and you need to know about Capital Small Finance Bank Personal Loan in detail. To learn about Capital Small Finance Bank Personal Loan apply online, Capital small finance bank Loan Interest Rates, Capital Finance personal loan, loan eligibility for Capital Small Finance Bank Personal Loan, etc.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Read this specific article to educate yourself on the tenures and requirements of the loan.

Capital Small Finance Bank

Capital Small Finance Bank Personal Loan- Characteristics and Advantages

  1. Quick loan acceptance
  2. Impressive and active rate of interest
  3. Gives particular policies and reductions for employees of big organizations
  4. Generally, no collateral is needed for taking a personal loan
  5. Maximum loan sum
  6. Numerous loan reimbursement choices
  7. Quick and straightforward processing of personal loan request
  8. Various end-use
  9. The least documents needed

Loan eligibility for Capital Small Finance Bank Personal Loan

Age needs to be between twenty-one to fifty-eight years

Should be Permanent workers of State or Central Government, and other esteemed organizations, etc.

Should have regular incomes whether the individual is salaried or Self – Employed.

Years of experience at the existing job or business need to be up to three years

Personal Loan Repayment for Capital Small Finance Bank

Credit total affects the reimbursement duration. 60EMIs maximum is allowed for personal loan reimbursement and start from 12 EMIs.

Required documents for Capital Small Finance Bank Personal Loan

  • Signed and filled up the application form for a personal loan
  • Pictures
  • For identity proof like- Passport, Voter ID, Driving approval license, Aadhar card, etc.
  • For Income proof, the recent income receipt showing all tallies or Form 16 with a current income statement for salaried persons
  • Earnings Tax Returns of prior two fiscal years for people other than a salaried person.
  • Address proof- Bank statement declaration, electricity bill recent, recent mobile bill, etc.
  • Bank declaration having updates of recent six months

How to get low-interest amounts on a Personal loan in Small Finance Bank?

  • Ensure you have a negligible debt at the time of a credit petition
  • Pay attention to the bills of MasterCard and schedule credit EMI’s.
  • Involve for addition with your recent investor
  • Be a continuous government agent or work with a known organization and keep a constant business record.
  • The effort to keep an economic estimation of 750 or greater

Factors Impacting Personal Loan in Capital Small Finance Bank

A credit tally shows your credit behavior and repayment result. A score like 900 is perceived as an adequate count. Mostly a high credit total urges the candidate to be authorized a lower financing payment.

Applicant’s age: The individual’s age affects the interest taken by the bank. Like if the person is nearer to retirement, the greater will be the fee for the loan.

Candidates with low yearly earnings can be charged a greater rate of interest. Whereas individuals with higher incomes are typically given a lower interest rate as they characterize a lower threat to the loan consultant.

The loan fee may vary from the individual’s occupation impression, whether the person is a salaried or independent employee.

Balance Transfer Interest Rates for a Personal Loan

Borrowers have the choice to shift their current individual increase to a Capital Small Finance Bank at a static pace of earnings by completing an equilibrium activity. The Capital Small Finance Bank, Personal Loan rate of interest starts at 9.99 percent per annum.

Loan applications can be rejected for the following reasons:

  • For having low credit value
  • Massive amount of general obligation
  • More loan queries

There are several myths that people about personal loans some of them are as follows

  • Prepayment of a Personal Loan often draws a penalty
  • A personal loan with the lowest rate of interest is best
  • The loan application can be rejected if one does not have regular earning
  • An increase in the rate of interest causes an increase in EMI
  • The rate of interest is not flexible
  • Having a good credit total assures personal loan
  • A poor credit tally rejects the chances of a personal loan
  • Following are the methods that One can use to reimburse the loan:
  • Standing instruction enrollment at your bank through an internet banking solution
  • Automatic Payment through Electronic Clearance Service (ECS)
  • Through Mobile Banking App, if given by the bank

To Apply for Capital Small Finance Bank Personal Loan

One can apply online through the Bank website, fill up the personal information and work data, & upload the critical statements. One can apply for a loan after checking the eligibility.

For offline, one needs to visit the Bank sectors carrying all the required statements, fill the application form, and get the loan acceptance procedure to begin.

Wrapping up

If you need to apply for a personal loan, knowing the duration and documentation is integral to applying for any loan. Hope this specific article has helped you understand more about Personal loans given by Capital Small Finance Bank, it’s the rate of interest, factors affecting the speed, eligibility norms, etc.

It has different repayment choices and an impressive interest rate which is a positive aspect in the case of a personal loan. This article is solely meant to familiarise you with the details of a personal loan so that it can be easy for you to choose the intended loan for you.

FAQ’s on Capital Small Finance Bank Personal Loan

Question 1.
What is the interest paid to depend on?

Answer:
The rate of interest for Capital Small Finance Bank Personal Loan relies on various components like the amount of the loan, prevailing relationship with the bank, the credit total of the person, the salary of the applicant, etc.

Question 2.
What is the lowest amount of loan that one can take?

Answer:
The amount of loan that One can take is One lakh rupee minimum.

Question 3.
Rate of interest and charges for the Capital Small Finance Bank Personal Loan.

Answer:
The rate of interest is 15.85% per annum.

Question 4.
The loan amount needs to be between 1 lakh rupees and.5 lakh rupees.

Answer:
Processing Fee is 1% of the amount of loan, accountable to Rs.500 minimum.

Question 5.
Factors that affect EMI to be paid on personal loan

Answer:

  1. Rate of interest
  2. Term of loan
  3. Amount taken

Question 6.
What are the various personal loans available in Capital Small Finance Bank?

Answer:
Capital Small Finance Bank did not give many kinds of personal loans. Nevertheless, one can use the bank’s loan to satisfy many financial necessities like medical or trip payments, home renovation.

Capital Small Finance Bank Personal Loan @9.99% | Advantages, Characteristics, Factors, Eligibility, How To Apply? Read More »