Loan

Central Madhya Pradesh Gramin Bank Personal Loan @ 9.99% | Features, Benefits, Eligibility Criteria, Documents, Interest Rates,

Leave a Comment / Loan / By / May 11, 2023

Central Madhya Pradesh Gramin Bank Personal Loan: The Central Madhya Pradesh Gramin Bank is one of the famous banks in India. This bank offers the Central Madhya Pradesh Gramin Bank Personal Loan. In this specific article, we will give you the Central Madhya Pradesh Gramin Bank Personal Loan details. We will tell you about the Central Madhya Pradesh Gramin Bank Head Office and the Central Madhya Pradesh Gramin Bank Regional Office.

We will tell you what the Central Madhya Pradesh Gramin Bank Net Banking and the personal loan interest rates are. This article will tell you what a personal loan is and what a Central Madhya Pradesh Gramin Bank Personal Loan is.

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.

Central Madhya Pradesh Gramin Bank

What is a Personal Loan?

A Personal Loan is a specific type of loan. It does not require any collateral or any security. A personal loan is the only loan that is offered with the minimum amount of documentation.

What is the Central Madhya Pradesh Gramin Bank Personal Loan?

The Central Madhya Pradesh Gramin Bank was formed by amalgamating Satpura Narmada Kshetriya Gramin Bank, Mahakaushal Kshetriya Gramin Bank, and Vidisha Bhopal Kshetriya Gramin Bank.

The Central Madhya Pradesh Gramin Bank was formed on the 8th of October in 2012. The head office of the Central Madhya Pradesh Gramin Bank is located in Chhindwara. The Central Madhya Pradesh Gramin Bank offers a personal loan scheme known as the Central Madhya Pradesh Gramin Bank Personal Loan.

What are some of the key features of the Central Madhya Pradesh Gramin Bank Personal Loan?

Here we have some of the key features of the Central Madhya Pradesh Gramin Bank Personal Loan. The age range is between 21 to 54 years at the time of the maturity of the loan. The CIBIL score should be at least a minimum of 750 or above it.

The interest rate of the Central Madhya Pradesh Gramin Bank Personal Loan is 9.99 % per annum. The lowest EMI for the Central Madhya Pradesh Gramin Bank Personal Loan is Rs. 2363.

The tenure of the Central Madhya Pradesh Gramin Bank Personal Loan is for up to 60 months. The processing fee for the Central Madhya Pradesh Gramin Bank Personal Loan is between 1 % and 2 % of the loan amount.

In contrast, the maximum loan amount that you can apply for is Rs 2 Lakh.

What are some of the major benefits of the Central Madhya Pradesh Gramin Bank Personal Loan?

  • The first important benefit of applying for the Central Madhya Pradesh Gramin Bank Personal Loan is easy disbursal.
  • The second important benefit of applying for the Central Madhya Pradesh Gramin Bank Personal Loan is easy processing.
  • The third important benefit of applying for the Central Madhya Pradesh Gramin Bank Personal Loan is that no guarantor is required.
  • The fourth important benefit of applying for the Central Madhya Pradesh Gramin Bank Personal Loan is that.
  • The fifth important benefit of applying for the Central Madhya Pradesh Gramin Bank Personal Loan is that doctors can take the major benefits of the loan, business people, and a regular salary person.

What eligibility criteria need to be fulfilled to apply for the Central Madhya Pradesh Gramin Bank Personal Loan?

To apply for the Central Madhya Pradesh Gramin Bank Personal Loan, you must fulfill certain eligibility criteria. The CIBIL score should be at least a minimum of 750 or above that specific score. The age limit is between 21 and 54 years.

The minimum income to apply for the Central Madhya Pradesh Gramin Bank Personal Loan is Rs. 20 000 per month. The person applying for the Central Madhya Pradesh Gramin Bank Personal Loan can be a doctor, a businessman, a regular salary, or a VIP.

What is the Interest Rate for the Central Madhya Pradesh Gramin Bank Personal Loan?

The Interest Rate of the Central Madhya Pradesh Gramin Bank Personal Loan is 9.99 % per annum.

What are other charges required to apply for the Central Madhya Pradesh Gramin Bank Personal Loan?

Some other charges are required to apply for the Central Madhya Pradesh Gramin Bank Personal Loan. You have to pay a Central Madhya Pradesh Gramin Bank Personal Loan Interest rate of 9.99 % per annum.

In addition to the interest rate of the personal loan, you have to pay a Central Madhya Pradesh Gramin Bank Personal Loan Processing Charge. The processing charge of the Central Madhya Pradesh Gramin Bank Personal Loan ranges between 1 % and 2% of the personal loan amount.

The person applying for the Central Madhya Pradesh Gramin Bank Personal Loan is not required to pay any amount as Prepayment Charge. The charge for the stamp duty is as per the state laws.

What are the most important documents required to apply for the Central Madhya Pradesh Gramin Bank Personal Loan?

Several important documents are required to apply for the Central Madhya Pradesh Gramin Bank Personal Loan.

The first important document you will have to apply for the Central Madhya Pradesh Gramin Bank Personal Loan is the Proof of Identity.

You can carry your driving license or a copy of your passport as proof of identity to apply for a personal loan. You can also carry your Aadhar Card or your Voter ID Card as proof of identity to apply for the Central Madhya Pradesh Gramin Bank Personal Loan.

The second important document you will be required to have to apply for the Central Madhya Pradesh Gramin Bank Personal Loan is the Proof of Address.

You can carry your Rent Agreement with a minimum of one year of stay or your Utility Bills Passport of your permanent residence as proof of address to apply for the personal loan. You can also carry your Ration Card as proof of address to apply for the Central Madhya Pradesh Gramin Bank Personal Loan.

The third important document you will be required to have to apply for the Central Madhya Pradesh Gramin Bank Personal Loan is the Proof of Income. You can carry your ITR of the last two Assessment years or your salary slip of the last six months as proof of income to apply for the personal loan.

You can also carry your Bank Statement of the previous three months as proof of income to apply for the Central Madhya Pradesh Gramin Bank Personal Loan.

The takeaway from this article

In this specific article, we have given you the Central Madhya Pradesh Gramin Bank Personal Loan details, Personal Loan interest rate, about what a Central Madhya Pradesh Gramin Bank Personal Loan is.

We have also told you about the Central Madhya Pradesh Gramin Bank Personal Loan’s Interest Rate and the factors that affect the Interest Rate of the Central Madhya Pradesh Gramin Bank Personal Loan.

Chaitanya Godavari Grameena Bank Personal Loan | Features, Benefits, How To Apply?, Eligibility, Reasons of Rejection

Leave a Comment / Loan / By / May 11, 2023

Chaitanya Godavari Grameena Bank Personal Loan: Chaitanya Godavari Grameena Bank is an Indian microfinance institution founded on 01-03-2006. Its headquarters are located in Guntur at Raghu Mansion, 3rd Floor, Brodipet, Guntur – 522 002. It operates 185 branches around the state.

The bank provides a range of smart banking products, including savings accounts, current accounts, fixed deposits, non-resident equivalent fixed deposits, recurring deposits, personal loans, loans against gold, loan against property, two-wheeler loans, microloans, and cash overdrafts, along with Chaitanya Godavari Grameena Bank Home Loan Interest rates.

The article deals with various aspects of the Bank, especially the features about Chaitanya Godavari Grameena Bank Personal loan eligibility, a guide to Chaitanya Godavari Grameena Bank personal loan application online, and much more.

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.

Chaitanya Godavari Grameena Bank

Chaitanya Godavari Grameena Bank Overview

Chaitanya Godavari Grameena Bank is an Indian microfinance institution founded on 01-03-2006. Its headquarters are in Guntur at Raghu Mansion, 3rd Floor, Brodipet, Guntur – 522 002. It operates 185 branches around the state.

The bank provides a range of smart banking products, including savings accounts, current accounts, fixed deposits, non-resident equivalent fixed deposits, recurring deposits, personal loans, loans against gold, loan against property, two-wheeler loans, microloans, and cash overdrafts.

Chaitanya Godavari Grameena Bank offers various types of financial services to its customers, including savings deposits, fixed deposits, recurring deposits, loans, personal loans, netbanking, RTGS, NEFT, and IMPS, as well as Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, and Pradhan Mantri Suraksha Yojana. Pradhan Mantri Jeevan Jyoti Bima Yojana Bima Yojana, among others.

Chaitanya Godavari Grameena Bank Features

  • Minimum documentation is required by the bank.
  • Applications for personal loans are very easily processed and approved.
  • Interest rates by Chaitanya Godavari Grameena Bank are quite attractive and affordable.
  • Employees from large companies enjoy special privileges and discounts from Chaitanya Godavari Grameena Bank.

How to apply for a Personal Loan in the Chaitanya Godavari Grameena Bank

Applying Online

Go to the official website of Chaitanya Godavari Grameena Bank. You will see an option named “Apply Now.” Select the personal loan application from there. You will be asked to fill a form with your basic personal details like name, email address, contact number, etc. You will state the reason for the personal loan in the feedback option and then submit it. The bank official will then contact you to complete the rest of the application process.

Applying Offline

Visit the nearest branch of Chaitanya Godavari Grameena Bank. The bank official will ask you the purpose of the personal loan and give you an application form. Fill in the application form and properly sign it. Submit it to the bank official with all the required documents. This will start the approval process for your personal loan application.

Chaitanya Godavari Grameena Bank Personal Loan Eligibility Criteria

The eligibility criteria for Chaitanya Godavari Grameena Bank Personal Loan differ on a few aspects of salaried and non-salaried individuals.

  • The applicant must be a minimum of 18 years old.
  • The applicant needs to have a regular monthly income.
  • The applicant should have a CIBIL score above 650.
  • For salaried individuals, the maximum eligibility age depends on the following terms:
    • In the case of pension eligibility, the loan should be terminated when the applicant/co-applicant reaches the age of 75.
    • Non-pensioners’ loans should be terminated at retirement.
  • For self-employed individuals, the maximum eligibility age depends on the following terms:
    • When the applicant/co-applicant reaches the age of 70, the loan should be terminated.
    • Professionals such as doctors, lawyers, engineers, and chartered accountants are eligible, whereas farmers and businessmen are not.
    • Under this scheme, takeover with/without enhancing the applicant’s personal loans from other Banks/FIs is also permitted, subject to eligibility.
  • After deducting all repayment obligations, including personal loan repayment, take-home pay should be greater than or equal to 30% of gross monthly salary for salaried individuals.
  • For self-employed individuals, after deducting all repayment obligations, including personal loan repayment, Net Annual Income should be greater than or equal to 30% of Gross Annual Salary.

Chaitanya Godavari Grameena Bank Personal Loan Documents Required

  • Two Photographs of the applicant for the personal loan.
  • PAN card, Aadhaar card, driving license, Passport, Voter ID card and Government department ID card are all acceptable forms of identification.
  • In terms of salaried individuals, payslips for the previous three months and Income Tax Returns for the last two years, Employee ID, Salary Certificate, and Salary Account Statement are required.
  • In the case of self-employed individuals, applicants have to submit Income Tax Returns for the previous two years.
  • Applicant must submit any of these following forms of evidence for an address: a bank account statement, the most recent power bill, an existing housing lease agreement, the most recent credit card statement, and recent mobile/telephone bill.
  • The applicant’s bank statement or bank passbook with entries from the previous six months.

Reasons for rejection of the loan

The personal loan application may be rejected by the bank if:

  • The applicant already has existing debts with a huge amount.
  • The applicant has a credit score which is lower than 650.
  • there are too many inquiries by the applicant for the personal loan

Chaitanya Godavari Grameena Bank Personal Loan Features

  • The bank provides personal loans of up to a minimum of Rs. 1 lakh for all individuals.
  • The maximum amount of loan for salaried individuals is Rs. 50 lakhs, whereas the maximum loan amount for self-employed individuals is Rs. 25 lakhs.
  • The interest rate for the personal loan depends on the CIBIL score of the applicant and whether they are salaried or self-employed:
    • With a CIBIL score between 650-750, salaried individuals have a 10.50% interest rate, and self-employed individuals have an 11.90% interest rate.
    • With a CIBIL score between 750-800, salaried individuals have a 10.25% interest rate, and self-employed individuals have an 11.65% interest rate.
    • With a CIBIL score between 800 and above, salaried individuals have a 10.00% interest rate, and self-employed individuals have an 11.40% interest rate.
  • The processing charge for personal loans is 0.50% of the loan quantum with GST.
  • The repayment period of EMIs for the loan ranges from a maximum of 10 years.
  • The bank does not require the applicant to provide any security.
  • The personal loan repayment mode is equated monthly installments beginning with the following month of loan disbursement.

Takeaways from the article

Chaitanya Godavari Grameena Bank is a well-reputed bank with excellent banking facilities, from overdrafts to personal loans. When it comes to their personal loans, they offer various privileges to applicants from all fields of work. They have a very pocket-friendly interest rate, and applying for a loan is convenient for individuals. Besides that, they offer a long-term period for the repayment of the loan. If you think of taking a personal loan, Chaitanya Godavari Grameena Bank Personal Loan is a must checkout. Ensure that you meet and satisfy all the eligibility criteria and that the interest rate is s

Dhanalakshmi Bank Personal Loan | Features, Requirements, Eligibility Calculator, Other Charges

Leave a Comment / Loan / By / May 11, 2023

Dhanalakshmi Bank Personal Loan: Every other individual is seen applying for a loan because of their issues and monetary problems. This particular article will disclose information about the Dhanalakshmi Bank that provides outstanding personal loans at attractive rates.

The Dhanalakshmi Bank personal loan contact number is always available, and their bank personnel will answer all your questions and provide you with utmost care. The Dhanalakshmi Bank personal loan online applies features that will allow the customers to apply for their loan from the very comfort of their home.

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.

Dhanalakshmi Bank

Dhanalakshmi Bank Overview

In India, the Dhanalakshmi Bank is a private sector bank that was established in the year of 1927. It has headquarters in Thrissur, Kerala, and has 245 branches. The bank has successfully provided various banking solutions to different banking sectors. Applying for a personal loan is a very durable option since the Dhanalakshmi Bank’s loan interest rates are incredibly unique.

Dhanalakshmi Bank Features

The Dhanalakshmi bank has some excellent features that make this bank the best choice for those who want to go for a personal loan. Some of those unique features are given below:

  • Amount of the loan: The personal loan amount here at Dhanalakshmi bank is outstanding. They provide personal loans to both salaried and self-employed individuals.
  • Easy documentation: To apply for a personal loan, one needs to go through a hassle-free process if they choose to use it at Dhanalakshmi bank. The documentation provided here is fundamental and straightforward, and one can even do it from the comfort of their house. An individual can either approach the bank closest to them or open its website for their loan application.
  • Tenure period: The tenure period for repayment of the loan is between 12 to 60 months, i.e., an individual is provided with the option of paying the loan in a maximum of 60 EMIs. The repayment options offered here are also very flexible, and applying for the loan is a straightforward and smooth process.
  • Charges: For Dhanalakshmi bank personal loan, the part payment charges are not required. But the pre-payment charges and the loan processing fee need to be paid. The pre-payment charges before and after the repayment of the 12 EMIs are 2%, along with the ST of the principal outstanding, and the loan processing fee is up to 2.5% of the loan amount.
  • Interest Rate: The bank decides the interest rate on the loan amount. So, therefore, the interest rate depends solely on the bank’s decision.
  • The personal loan eligibility calculator: The website of Dhanalakshmi Bank provides consumers with a tool that allows them to check their eligibility for applying for a loan. The eligibility is based on certain factors, and hence the consumer needs to input the required information. They will know whether they are eligible to apply for the Dhanalakshmi Bank personal loan or not.
  • Other charges: The bank itself decides the interest rate for the Dhanalakshmi Bank personal loan. The charge for cheque bounce is Rs. 500 along with ST per cheque. The demand for loan cancelation is Rs. 1,000 along with ST. The charge for the fore-closure statement is Rs. 200 along with ST.
  • The Dhanalakshmi Bank personal loan first checks the applicant’s credit history after receiving the loan application. Having a credit score of around 750 or above is always good since it will assure the bank that the individual can repay the loan amount on time.
  • The bank will also look at whether the applicant has been paying the previous loan amounts on time or not. If they find a low credit score or any defaults in the payment, then the rejection of the loan is possible.

How to Apply for a Personal Loan in the Dhanalakshmi Bank?

Online

  • If you want to apply for the loan online:
  • Visit the Dhanalakshmi 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.

Offline: Visit the nearest branch of Dhanalakshmi 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.

Dhanalakshmi Bank Personal Loan Eligibility Criteria

The Dhanalakshmi Bank has specific acceptability requirements for personal loan applicants. If any individual decides to apply for a personal loan, they need to ensure that all the requirements are met. The requirements are:

  • The individual applying for the loan should be at least 23 years old.
  • The individual has to be either a salaried individual, self-employed professional, or a self-employed non-professional.

For salaried individuals

  • The minimum income has to be Rs. 35,000 per month.
  • The individual needs to be a permanent employee in either a central government or state government institution, a reputed organization, or a profit-making organization.
  • Minimum work experience of around two years is required for applying for the loan.

For self-employed (both professional and non-professional)

  • The minimum income has to be Rs. 1,80,000 per annum.
  • The work experience needs to be at least three years for a self-employed professional.

Dhanalakshmi Bank Personal Loan Documents Required

To apply for the Dhanalakshmi bank personal loan, an individual needs to provide specific documentation. The required information regarding those documents are given below:

For the proof of identification, an individual needs to present a copy of any one among the following:

  • Voter ID
  • Valid passport
  • Laminated driving license Aadhar card
  • Defense ID
  • Employee card(if any)

For the proof of income, an individual needs to present three current payslips that have the six months bank statement of their salary account.

For the proof of residency, an individual needs to present a copy of any one among the following:

    • Valid passport
    • Voter ID Card
    • Laminated driving license
    • Premium receipt of life insurance
    • Latest telephone or electricity bill that is at least three months old.
    • Latest bank statement or bank passbook.

For the proof of age, an individual needs to present a copy of any one among the following:

    • Birth certificate
    • Driving license
    • Passport
    • PAN Card
    • School or college certification
    • LIC policy
  • Latest photographs of the individual
  • Form 16 or appointment letter as the proof of continuity
  • Verification of signature
  • The loan application form, filled and signed

Types of Personal Loan offered by the Dhanalakshmi Bank

The other types of personal loans that the Dhanalakshmi Bank provides are:

  • Home Loan
  • Business Loan
  • Education Loan
  • Credit Card Loan

Takeaways from the Article

In this particular article, we have given you information about the Dhanalakshmi Bank Personal Loan, the Dhanalakshmi Bank Personal Loan interest rate, and about what a Dhanalakshmi Bank Personal Loan is.

Yes Bank Personal Loan @ 10% | Types of Loans, Features and Eligibility Criteria

Leave a Comment / Loan / By / May 11, 2023

Yes Bank Personal Loan: Personal loans are nothing but a loan taken majorly for oneself. It’s a small basic expense in which a person credits from banks, union banking, or “NBFCs” that are non-banking financial companies, so it meets the requirements of a person daily. It’s helpful for a single commodity.

Personal loans are not backed up with collateral because they are unsecured. In a personal loan, with the help of yes bank personal loan calculator, the lender is not relying on a borrower’s asset but depends on the person’s credibility, judged mostly by credit score. Personal loans can be used for home renovations, weddings, medical expenses, or personal expenses, but the fact to be driven is that it has a higher amount of interest than others.

To discuss personal loans, one needs to check Yes Bank’s loan rate of interest, and we get all these through the Yes Bank Personal Loan customer care portal provided on the Bank’s website.

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.

Yes Bank

Yes Bank Overview

Yes Bank is a private bank in India, headquartered in Mumbai, Maharashtra. The Bank had its biggest collapse on 5th March 2020 because it had an excessive amount of loans, so the Reserve bank of India took over its control. Later, RBI constructed a board name where they made Sunil Mehta, the non-executive chairman of Yes bank.

How to Apply for a Personal Loan in Yes Bank?

Customers can apply for a Personal Loan at YES BANK online or by visiting their nearest YES BANK branch. The steps that customers should follow while applying for a loan with YES BANK are as follows.

Step 1: Assessment for the requirement of Loan. The first step needed to be done by customers is to determine the amount of money they will need to loan and chalk out their plans for the repayment of said Loan.

Step 2: The customers need to find out their eligibility for a personal loan at YES BANK (Direct access to the bot)

Customers can do the needful by clicking on the link provided by the Bank on their website. They will be asked to fill in details such as:

  • Age
  • Monthly Income
  • Other recurring monthly expenses, including any current EMIs
  • Employer
  • Employment history: years at current job
  • The period spent living at current residence
  • Whether it is rented, owned, or mortgaged

Step 3: After this, the customer will get a call from YES BANK and ensure that the customer has all the required documents, including knowing your customer (KYC) and proof of income.

Yes Bank Personal Loan Documents Required

  • The filled loan application form with all the details required.
  • Identity proof: identity proof for the person applying for the Loan. It can be their passport, Voter ID Card, Driving License, or AADHAR Card.
  • Address proof: A valid form of proof of permanent address. One can provide their electric bill for this address proof.
  • Income proof: a proof of income of the person applying for the Loan. His or her bank statement from the last three months is required.

Yes Bank Personal Loan Features

Yes Bank offers a personal loan to its customers starting from 1 lakh to 40 lakhs at the interest rate of 10.99 %for the 12-60 months range. This long tenure provided by the Bank helps one ensure the period and method of payment the customer will pay back the loan.

The feature of the personal loans offered by Yes Bank are as follows:

  • There is no need for collateral.
  • YES, BANK allows its customers to choose the tenure of their Loan. Thereby, the Customers can calculate the monthly installment (EMI) they need to be paying across the loan tenure to determine a repayment schedule and the repayment method that would suit the customer best.
  • Customers are given the provision to check their eligibility for a YES BANK personal loan in very minimal time by using the personal loan eligibility calculator provided on the Bank’s website. Mobile users can also use YES BANK mPower Bot for 1-minute in-principle loan approval.
  • Yes Bank provides a very fast and smooth transaction of funds to the account mentioned by the customer for the Personal Loan. Yes Bank funds will be disbursed in a matter of hours, ensuring they are available at a moment’s notice for any emergencies such as medical payments.
  • Customers can easily apply for a loan online via the loan application portal on the Yes Bank Website.
  • Yes Bank customers also have the option if they want to transfer their high-cost personal Loans from other banks or institutions.
  • Yes Bank provides for its customer the service of Doorstep banking where if a customer applies for a personal loan, a bank representative will visit the customer and aid in the completion of the personal loan application.
  • Yes Bank also provides its customers with a part pre-payment option where the customer is allowed to partly pay the amount of the loan before the end of the loan tenure.

Types of Personal Loans offered by Yes Bank

There are many distinct types of personal loans that are being provided by the Yes Bank services in which they give the customer various types of personal Loan be it for leisure or for an emergency.

Holiday Personal Loans

Yes Bank provides its customers with personal holiday loans where customers can enjoy their vacation without being in a situation requiring money.

A personal loan for a holiday from YES BANK assists the customer cover most of their expenses, including flight tickets and hotel charges.

It can also help cover travel accessories depending upon the size of the Loan.

Wedding Loans

A wedding in India is generally a matter of spending money on big amounts. Thus, Yes Bank offers its customers wedding loans so that one does not have to come under a cash crunch during the wedding.

Wedding Loans from YES BANK offer the customer quick cash during their time of need and thereby making sure that all the wedding costs are covered.

One can incorporate various needs such as jewelry, clothing, decoration, catering to be under such a loan.

Home Renovation Loans

Yes Bank provides its customers with Home renovation loans in order to make sure the customers don’t put off on home renovation in need of money. In Yes Bank Home Renovation personal loans, YES BANK offers the customer the best of plans, custom-made to meet the demands of the customer.

Takeaways from the Article

Thus, this concludes the article detailing personal loans and, in particular, Yes Bank Personal Loan. It is very integral to understand the basics and intricacies of the 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.

The information about personal loans is not just limited to this article. One must always read carefully the terms and conditions a specific bank puts out before applying to it for a loan.

Canara Bank Personal Loan 12.4% | Types, Details, Documents, How To Get a Personal Loan

Leave a Comment / Loan / By / May 11, 2023

Canara Bank Personal Loan: Canara financial bank is the third-largest national bank in India. It’s miles under the possession of the Ministry of Finance, Government of India. Canara Bank is one among the most trusted banks in India. Thousands of people trust Canara bank as their option.

Taking up loans from Canara bank is also easy since they have an easily accessible banking surface. One can even apply for the Canara bank personal loan online. In this article, we shall look at the topics such as the Canara bank personal loan contact number, and we will also look at the Canara bank personal loan rate of interest and the information you need.

Want to compare Canara 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.

Canara Bank

Canara Bank Overview

Canara Bank is one of the renowned public area banks in India. The financial institution has different forms of loan products to assist customers who want to finance for diverse functions. The personal mortgage presented by using the bank starts off with a hobby price of thirteen% for non-authority employees.

Canara Bank Features

  • Canara bank budget non-public loan is designed to fulfill the urgent monetary requirements of employees (company, public sector project, and government personnel etc).
  • To avail the private budget mortgage, the workers must preserve their profits account with Canara financial institution.
  • The most loan amount that might be sanctioned is Rs. Three lakhs or six times the gross revenue, whichever is lesser.
  • The processing fee is 0.5% of the mortgage amount (min. Rs one thousand or maximum Rs. 5000). Canara financial institution may additionally require co-obligation same to the loan amount in fashion.

How to Apply for a Personal Loan in Canara Bank?

To apply for the Canara Bank Personal Loan, the candidate can choose both offline and online methods. Let’s discuss the different steps to follow when applying for a personal loan online and offline.

Online Method

  • First, visit the official website of the Canara Bank.
  • Now, fill in personal, professional, and monetary details as required by the bank and post the form.
  • Canara bank’s online portal will check your eligibility and offer you records of approximately the eligible quantity you can avail of.
  • If you agree to process the utility and take the suggestive loan, then next, you would be required to post the vital documents, which you can also upload online.
  • Finally, you can process your documents through Canara financial institution, and on successful approval of the mortgage, the funds might be distributed for your required loan.

Offline Method

You can also follow for Canara bank personal loans via visiting their branch or by way of calling their client care center. Let’s take a look at the offline methods of applying for a personal loan.

  • Feel free to visit the nearest Canara bank branch and fill in the application form with the loan amount required, your details, occupation information, and your touch wide variety.
  • The Canara bank representative will explain approximately the eligibility of the loan and the loan quotes, terms in addition to processing costs, prepayment, and foreclosure clauses.
  • They’ll provide you with a utility reference for a wide variety.
  • The same variety to tune the popularity of your Canara bank private loan application
  • On successful verification, the mortgage can get distributed without delay after mortgage sanction and signing of the agreement.

Canara Bank Personal Loan Eligibility Criteria

  • Salaried employees who are government workers or work at a private company or MNCs, can apply for a Personal Loan.
  • The applicant’s age must be above 21 years and up to 60 years.
  • The applicant must have Rs. 15,000 as their monthly income.
  • The applicant needs to hold a minimum of 36 months of work experience to be held as an eligible candidate.

Canara Bank Personal Loan Documents Required

If you want to apply for one of the personal bank loan services in the Canara bank, the main documents that one would require to be able to apply for the loan easily are,

  • Identity proof
  • Address proof
  • Recent Photographs.
  • Latest salary slips from last three months
  • Form 16 or the Income-tax return for the previous three years.
  • Co-obligation document.

Canara Bank Personal Loan Features

  • As simple as it sounds, but applying for a loan alone does not secure the loan.
  • Canara bank only allows loans ranging from 1 lakh to 3 lakh.
  • Profits: Canara bank gives non-public loans to all customers with a net take a domestic month-to-month salary of greater than 15,000. The interest price is higher if you fall in the low salary bucket and lower if you fall in a better earnings bucket.
  • Employer class: Canara bank has clubbed the groups in a high to low class primarily based on internal assessment of enterprise’s length, popularity, profitability, and so forth. While you practice for Canara bank non-public loan, the bank will decide your interest charge primarily based on the organization class you fall in.
  • Credit score: Canara bank checks the CIBIL score rating of private mortgage customers, which has to be a minimum of 650. Better the CIBIL score, the better is your hazard of securing a first-rate offer.

Types of Personal Loan Offered by Canara Bank

The numerous kinds of personal loans presented through Canara financial bank plans are:

  • Teacher loan
  • Senior citizen loan
  • Canara consumer loan

A customer of Canara bank who is searching for personal loans can apply for these options when choosing their respective personal loans.

Takeaways from the Article

Hence in this article, we have covered up most of the information. Canara Bank has one of the most easy and minimum documentation for applying for a personal loan at their company. Canara bank has been among the most trusted banks established in India; hence one should know that they are safe when they trust Canara Bank with their income and savings.

Indian Bank Personal Loan @ 10.50% Eligibility Criteria, Documents Required, Interest Rates

Indian Bank Personal Loan @ 10.50% | Eligibility Criteria, Documents Required, Interest Rates

Leave a Comment / Loan / By / May 11, 2023

Indian Bank Personal Loan: Indian Bank is a state-owned banking and finance corporation placed in Chennai, India, that was originally established in 1907.

A personal loan is the best possible option on the table to meet a range of economic obligations, both planned and unscheduled.

If you’re searching for a personal loan, this is one of your strongest opportunities. To meet customers’ banking goals, Indian banks adopt the most up-to-date information and communication technology (ICT) by effectively implementing the core banking system, which is also why the Indian Bank new loan scheme is a wise choice.

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.

In this article, we have compiled in detail all the aspects regarding the Indian Bank Loan Interest and other subjects like the Indian bank covid-19 personal loan.

Check the full article to obtain a comprehensive picture of the situation and judge whether or not to apply for a personal loan with Indian Bank.

Indian Bank

What makes a personal loan from the Indian Bank a smart decision?

  • The flexibility of the loan amount: The loan amount largely depends on whether you are a waged individual or a retiree, and it is tailored to suit your particular requirements.
  • Tenure is fairly adaptable: Based on the sort of personal loan you seek out from Indian Bank, the repayment period might last up to 84 months.
  • The procedure is transparent: The charges are shown upfront with no hidden costs.
  • Easy and hassle-free online application: You might register for an Indian Bank personal loan online and receive instantaneous financing after fulfilling a few easy actions.
  • Very little paperwork is required: The paperwork necessary to advance for an Indian Bank personal loan is fairly minimal, guaranteeing the applicant’s ease and convenience.

What are the minimum eligibility criteria for the loan?

The following are the requirements that potential consumers must satisfy in order to secure a personal loan from Indian Bank:

Eligibility Criteria for IB Clean Loan for the Salaried class

  • The client must essentially be a permanent employee of the Government or Quasi-Government institutions, endowments, corporate industrial establishments, reputed companies, or boards, etc.
  • The client must also be employed for a minimum of three years before considering applying for the loan.
  • The client must mandatorily have a minimum take-home salary of 40% of the gross salary following the servicing of the proposed EMI.

Eligibility Criteria for IB Pension Loan

  • The individuals who are allowed to apply for this loan are:
    • Central and State Government employees
    • Family pensioners
    • The pensioners who are re-employed
    • The former employees of the Indian Bank now retired
  • This loan is not authorized to EPF pensioners or CRS retirees.
  • The upper age limit for entrance is 75 years, while the highest age for leaving is 78 years.

Eligibility Criteria for Loan or Over Draft against deposit

The consumer must essentially be the holder of the Term Deposit at Indian Bank.

Eligibility Criteria for IND Loan / OD Against NSC / KVP / Relief Bonds of RBI / LIC Policies

  • Customers who have been adequately represented and who have the economic means to repay the loan and pay the interest are evaluated.

List of documents required for applying for the loan

  • Two copies of Passport sized pictures.
  • PAN card or Voter ID or Driving License Passport as an Identity Proof
  • Recent Landline bill or Electricity bill which is not more than three months old or Ration card or Voter ID or Passport as verification of residential address.
  • Latest salary slip or Form 16 or last six months account statement audited or ITR returns for last three years for the proof of a consistent income.
  • Employee number, employee order, photo identity card are also essential for serving as employment proof.
  • Loan application form with the signature.
  • Post-dated cheques.
  • Third-party guarantee documents.
  • Pensioners portion of PPO (For IB Pension Loan).
  • Original NSC, KVP, RBI Relief Bond, or LIC Policy (for Loan / OD Against NSC / KVP / Relief Bonds of RBI / LIC Policies).

What are the elements that influence the loan’s interest rate?

Even for bank customers, personal loan interest rates are still not standardized. Every personal loan application’s interest rate is shaped by a variety of parameters. Here’s a more in-depth look at the situation.

  • When applying for a loan or a credit card, your CIBIL score is perhaps the most key factor to consider. Your CIBIL score measures your potential to repay debts.

If your credit score is inadequate, you’re more likely to collapse on your loan payments. A high score, on the other hand, boosts the likelihood of loan acceptance as well as low-interest rates.

  • Salaried people have a steady stream of earnings, which gives banks security in their competence to pay their EMIs on schedule and meet their obligations. Banks, on the other hand, are apprehensive about self-employed people’s means to pay their EMIs on deadline.

As a consequence, salaried persons pay smaller personal loan interest rates than self-employed individuals.

  • The level of income is always a reliable predictor of one’s monetary state. The stronger the income level, the stronger the financial situation, and the more probable the loan will be repaid in full.

As a consequence, banks include basic income criteria in their qualifying standards. Additionally, in some contexts, the percentage of income dictates the interest rate.

  • The reputation of the employer is also an element in deciding the rate of interest. Borrowers who work with a renowned agency have a significantly better probability of gaining a loan with a cheaper interest rate.

What is the rate of interest for the personal loan of Indian Bank?

  • The rate of interest of the Pension Loan is 10.50% onwards.
  • The rate of interest Clean Loan to Salaried individuals is 9.05% onwards.

The above-mentioned rates are subject to modification on a regular basis and to other factors.

The following is a detailed rundown of the interest rates.

There are two scenarios and for employees of Government organizations or State Government or PSUs & Central and for Salaried individuals of reputed Private Sector or other reputed organizations approved by respective Zonal Office, and they are as follows:

  1. If a check-off facility & undertaking by the employer is available, then the rate of interest is 9.05% p.a. onwards.
  2. If the check-off facility & undertaken by the employer is not available, but the salary is credited with our Indian Bank, then the rate of interest is 9.65% p.a. onwards.
  3. For Housing Loan Borrowers categorized under the Salaried Class, where the consumer’s salary is credited to the Indian Bank salary account, the rate of interest is 9.05% p.a.
  4. For Pension Loan, here are the rates of interest:
    1. If the repayment period is within 12 months, then the rate of interest is 10.60% p.a.
    2. If the repayment period is over 12 months and up to 36 months, then the rate of interest is 11.35% p.a.
    3. If the repayment period is over 36 months and up to 120 months, then the rate of interest is 11.60% p.a.

What are the processing fees for the loan?

  • In the case of the IB Clean Loan for the salaried class, the processing fee is 0.512% of the loan amount with a minimum of INR 512.
  • In the case of the IB Pension Loan, the processing fee is 0 for loans up to Rs. 25,000. Rs. 255/- for loans above Rs. 25,000/-.

How can the EMI’s be paid?

One has three alternatives for repaying your Indian Bank personal loan.

  • Standing Instruction is an excellent solution for repayment if you already have an account with Indian Bank. At the completion of each monthly cycle, your EMI payment will be deducted automatically from the Indian bank account you specify.
  • If you have a non-Indian bank account and just want your EMIs charged regularly at the completion of the monthly cycle, you can employ the Electronic Clearing Service approach.
  • Post-dated EMI cheques from a non-Indian bank account can be deposited to your closest Indian Bank Loan Office. A fresh batch of PDCs will be required to be produced as early as possible. Please be aware that only non-ECS locations will recognize Post Dated Cheques.

FAQs

Question 1.
 How may someone register for a personal loan from the Indian Bank?

Answer:
For a personal loan,

  • One can opt for the online registration or,
  • Visit the local Indian Bank loan facility.

Question 2.
 What are the limit loan amounts?

Answer:
Your earnings and repayment potential will influence your personal loan limit.

Question 3.
 How does the repayment arrangement operate?

Answer:
The EMI is the least unit that must be given each month. It is also reasonable to pay more than just the EMI if preferred, and there is no prepayment penalty.

Saraswat Cooperative Bank Personal Loan @ 13.50% | Features, Advantages, Methods, Eligibility Criteria, Documents Required and Interest Rates

Saraswat Cooperative Bank Personal Loan @ 13.50% | Features, Advantages, Methods, Eligibility Criteria, Documents Required and Interest Rates

Leave a Comment / Loan / By / May 11, 2023

Saraswat Cooperative Bank Personal Loan: Most financial needs appear when one doesn’t expect them. It’s an unpredictable thing. Apart from this, many such financial problems can come in front of you, and sometimes, you are not prepared to handle such situations. So to handle such a situation, you think about borrowing money from a relative or a friend, but what if you have already taken loans from them?.

Well, don’t worry, apply for Saraswat Cooperative Bank Personal Loan today and use the loan amount for paying an existing loan or paying off your relative’s debt. Whatever your personal needs are, the bank is always with you with its best financial services.

Want to compare Saraswat Cooperative Bank Personal Loan 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.

Saraswat Cooperative Bank

Saraswat Cooperative Bank LTD

Saraswat Cooperative Bank Ltd. has operated since 1918, which is an urban cooperative bank in India. The bank has its headquarter in Mumbai city and has a total of 440 branches.

Members who found the bank is as below:

  • J. K. Parulkar(Chairman)
  • N. B. Thakur (Vice-chairman)
  • Shivram Gopal Rajadhyaksha (Treasurer).
  • P. N. Warde (Secretary)

Saraswat Cooperative Bank Limited Personal Loan Highlights

  • The interest rate for Saraswat Cooperative Bank Limited PersonalLoan- Starts at 13.50% p.a.
  • Take loan – Up to Rs. 5 lakh
  • Prepayment charges- Will be determined by Saraswat Cooperative Bank Limited.
  • Total loan tenure for a personal loan- Maximum 60 months
  • Minimum Income should be

Net take home Rs. 20,000 per month. for metro or urban cities’ residents and net take-home Rs. 15,000 per month for semi-rural cities’ residents.

Saraswat Bank Personal Loan Interest Rate

The bank has a fixed interest rate of 13.50%, but specific interest rates are also available for borrowers. The specific interest rates vary with applicants’ profile inciting their customer segment, credit score, desired tenure, loan amount, etc.

Saraswat Cooperative Bank Limited Personal Loan Features

  • Personal Loan amount of Saraswat Cooperative Bank: If you want to avail yourself of a personal loan of up to five lakh rupees, you are welcome because the bank offers their customers personal loans up to Rs. 5 Lakh rupees.
  • Fixed interest rate: This bank provides the service of personal loans at fixed interest rates. This interest rate does not change throughout the tenure of the loan, remaining almost the same. Well, the bank offers personal loans at a 13.50% p.a interest rate.
  • Flexibility in repayment tenure: The bank offers 60 months repayment tenure, starting with 12 months. Repayment flexibility depends on the borrowers’ credit score, so it’s a must for a borrower to take care of this point.
  • Bank doesn’t include any hidden charges: Saraswat Cooperative Bank takes only processing fees and transparently communicates interest. Apart from these charges, the bank does not take any hidden charges from the borrowers.
  • Minimum documentation: Saraswat Cooperative Bank knows very well that when a person applies for a loan, he has to face so many troubles related to paperwork. That’s why the bank does not let you face such troubles and provides less documentation. The process is very easy to avail a personal loan from this bank.

Saraswat Cooperative Bank Personal Loan Eligibility

  • Salaried applicant: For a salaried employee applicant, he must have work experience of above three years. He should also be the permanent employee of central Government, State Government, public sector undertakings companies, public establishments, and reputed companies.
  • Age criteria to avail loan: To avail personal loan from Saraswat Cooperative Bank, all applicants’ age should be between 21 to 58 years.
  • Applicants with regular income: Whether a borrower is a salaried employed applicant or self-employed businessman, he should have a monthly income in his account. So, if one fulfills this eligibility, then he can take Saraswat Cooperative Bank Limited Personal loan.

Saraswat Cooperative Bank Personal Loan Documents Required

Address proof

  • Recent credit card statements.
  • Bank account statement of recent six months.
  • The lease agreement of borrowers’ existing house.
  • Recent electricity bill.
  • Recent mobile/telephone bill.
  • If an applicant lives in a rental apartment, he should have a rent agreement and water bills for residential proof.

Income proof    

  • Borrowers should have a current salary slip with all deductions on it. As an alternative, you can use form 16 also.
  • If an applicant is a self-employed businessman, he should have earlier three years’ income tax returns (ITI)
  • Six months’ Bank statements (For both salaried employee applicants and self-employed applicants)
  • A salaried applicant must have the full address of his office.
  • If a borrower runs a business, then he should have proof of three years of business experience.
  • A salaried employee should have a salary certificate to avail of Saraswat Cooperative Bank Personal Loan.

Identity proof 

  • PAN card
  • Aadhar Card
  • Passport
  • Voter ID card
  • Driving license
  • Government department ID card.

2 Colored photographs and a passbook

Saraswat Cooperative Bank Personal Loan Advantages

Here we will look at some of the important benefits of the bank that will help you prove that this bank is the best for taking a personal loan when someone needs it.

  • The bank offers a maximum loan amount to their borrowers, so they’ll receive the amount at a suitable time if they are found eligible for the loan.
  • Saraswat Cooperative Bank Limited offers loan applicants several loan repayment options.
  • The bank doesn’t let its customers wait for many days to avail of the loan. Saraswat Cooperative Bank Limited amazes us with its processing speed and many such excellent facilities offline and online.
  • After checking applicants’ eligibility criteria, the bank takes only two or three days to approve the personal loan.
  • Saraswat Cooperative Bank Limited offers low-interest rates as well as affordable EMIs that attract its consumers.
  • If an applicant is a large company employee, he can get the advantages of many discounts and special schemes of the bank from time to time.
  • Saraswat Cooperative Bank’s loan doesn’t require any collateral, so for an applicant, it becomes easier to avail personal loan from it.

Methods to Apply for Saraswat Cooperative Bank Personal Loan

There are two main methods to apply for a personal loan, so choose the means you like.

Online Method

So first, go to the bank’s net banking portal, log in there with your credentials, and upload the important documents to avail Saraswat Cooperative Bank Personal Loan. You can log into GoMo- Saraswat Bank’s mobile banking platform for personal loans as well.

Offline Method

If you do not want to apply for the loan online, you can also do it offline. Go to any branch of the bank and get complete information there to fill the application form comfortably. After applying for a personal loan from the bank, you will get your loan within three or four days.

Conclusion on Saraswat Cooperative Bank Personal Loan

It is very easy to take a loan from Saraswat Cooperative Bank Limited. Still, at the same time, you have to take care of many important points, like if a borrower has a good credit score or credit history, then he gets the loan easily. This means many factors are helpful to decide your loan amount and interest, such as good cash flow in borrowers’ accounts, excellent credit score, residential city, age, income, etc.

If you face any problem related to the loan or have any queries, you can call the bank’s customer care number, and you will get complete information within minutes. Call the toll-free number of Saraswat Cooperative Bank (1800-22-9999, 1800-266-5555) for any service, or you can email on its official email address (corporatecenter@saraswatbank.com) also.

Kapol Cooperative Bank Personal Loan @ 16.25% | Procedure, Documents, Interest Rates, Definitio

Leave a Comment / Loan / By / May 11, 2023

Kapol Cooperative Bank Personal Loan: Personal Loans are being adopted by an influx of people to finance larger expenses.

A Personal Loan can be acquired from any bank or non-banking financial institution of your discretion. With the advancement of financial institutions’ internet services, you may have your funds in as little as 48 hours.

In India, Kapol Cooperative Bank Limited is a cooperative bank headquartered in Mumbai, and the Kapol Coop Bank position Today is very stable today if you are considering it for a personal loan. In 1939, Kapol Cooperative Bank Limited was started. There are 17 branches in all.

Savings accounts, fixed deposits, recurring deposits, house loans, personal loans, vehicle loans, school loans, gold loans, PPF accounts, lockers, internet banking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, as well as many other economic services are offered to its customers.

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.

Kapol Cooperative Bank Limited is a good choice today for applying for personal loans. Before applying for the loan, you should actually be cognizant of the various issues like the kapol cooperative bank share price and others.

In this article, we have highlighted all the details of the Kapol Cooperative Bank case study for your easy grasp.

Kapol Cooperative Bank

Kapol Cooperative Bank Overview

Most banks issue personal loans to facilitate people in accomplishing their economic necessities. Essentially, these are unsecured loan products that are sanctioned based primarily on the applicant’s economic capabilities and credibility.

They are the greatest alternative when faced with an unexpected financial necessity.

In 1939, Kapol Cooperative Bank Limited was started. There are 17 branches in all, and its Personal loans are beneficial for addressing a wide range of financial obligations, such as a holiday trip, home relocation, family wedding, credit card bill settlement, current loan payment, medical crises, so on and so forth, without having to think about retaining any security or assets.

Kapol Cooperative Bank Features

  • Size of the loan that can be secured.
  • There is a multitude of loan repayment arrangements.
  • Personal loan requests are processed immediately and effortlessly.
  • Prompt authorization of the loan.
  • The bank does not always demand a guarantor.
  • On the amount borrowed, favorable and economic interest rates are granted.
  • Workers of large corporations can avail the benefit of exclusive plans and special discounts offered to the customers.
  • Obtaining a personal loan usually does not entail the specific provision of collateral.

How to apply for a Personal Loan in the Kapol Cooperative Bank?

Most banks now involve applying for a Personal Loan via the internet. Additionally, the loan is nearly spontaneously issued and demands next to no paperwork, making it a transparent and digital procedure.

Therefore, one can visit the official website of Kapol Cooperative Bank and apply for a loan.

The other option available for applying for the loan is to physically visit any of their branches and apply for the loan offline

Kapol Cooperative Bank Personal Loan Eligibility Criteria

The age of the applicant must essentially be between 21 to 58 years.

The applicant must be a permanent employee of any of the following:

  • State or Central Government
  • Public Sector Undertakings
  • Corporations
  • Private Sector Companies
  • Reputed Institutions

There must be a steady and regular flow of income for salaried as well and self-employed applicants.

The minimum number of years the applicant must be a part of their present job business profession is up to three years.

Kapol Cooperative Bank Personal Loan Documents Required

  • Appropriately filled up and duly signed personal loan application form.
  • Three copies of recent passport-sized photographs
  • Aadhar Card or Voter’s ID or Driving license or PAN card or Passport or Government department ID card as proof of identity
  • For the salaried class, a copy of the latest salary slip showing all transactions or Form 16 along with a recent salary certificate as a verification of the income.
  • For individuals who are not categorized under the salaried class, the Income Tax Returns of 2 previous financial years are required as a verification of the income.
  • The latest electricity bill, which is not more than three months old, the latest mobile or telephone bill, the latest credit card statement, or existing house lease agreement as proof of residential address is required.
  • Bank Statement or Bank Pass Book records of having entries of last six months

Kapol Cooperative Bank Personal Loan Features

  • The maximum amount that can be opted for the loan is INR 2 lakhs.
  • The maximum repayment period available is 60 months, i.e., personal loans can be repaid in up to 60 installments. It commences with 12 EMIs. The duration of the repayment tenure is also regulated by your credit score.
  • The yearly interest rate levied by the bank is 16.25 percent p.a. The bank maintains the discretion to modify the tariff at any point.
  • For every one lakh rupees financed, the EMI will be 2 458 rupees.

Types of Personal Loan offered by the Kapol Cooperative Bank

The following are the various other loans available:

  • Housing loan
  • Consumer Durables loan
  • Educational loan
  • Computer loan for personal use
  • Vehicle loan etc.

Takeaways from the Article

A personal loan proceeds in a comparable way to other varieties of loans. You apply for a loan, complete the relevant paperwork in order, and the bank examines your credibility before issuing a loan offer. If you consent, the funds will be transferred to your bank account, which you might utilize as you like.

Savings accounts, fixed deposits, recurring deposits, house loans, personal loans, vehicle loans, school loans, gold loans, PPF accounts, lockers, internet banking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, as well as many other economic services are offered to its customers. Hence, you should avail th

Punjab National Bank Personal Loan @ 8.45% | Eligibility, Factors, How To Apply? and How To Calculate EMI?

Leave a Comment / Loan / By / May 11, 2023

Punjab National Bank Personal Loan: As the world’s first Swadeshi bank, the Punjab National Bank (PNB) commenced operations in Lahore on April 12, 1895, with an authorised capital of Rs 2 lac and working capital of Rs 20,000. This is the first bank in the world that is wholly owned and operated by Indians and funded totally by Indian money. PNB has absorbed or merged with nine other banks during its long history.

The Punjab National Bank was nationalized in July 1969, and 13 other banks as part of more considerable banking reform. In 1986, they bought Hindustan Commercial, which resulted in 142 branches from Hindustan to the Bank’s existing network.

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.

How Can Get the Best Deal on a Personal Loan from PNB?

Several criteria influence your chances of receiving the best offers on a PNB Personal Loan, which are stated below:

  • Loan Amount – PNB provides loans ranging from 50,000 to 15 lakh rupees and charges lower interest rates on more significant loan amounts and vice versa; therefore, make your application by this range.
  • Customer’s monthly net take-home pay – PNB provides personal loans to all clients who earn a net take-home pay of more than 30,000. If you have a low salary, the interest rate is more significant; if you make a big salary, the interest rate is lower.
  • Credit Score – PNB assesses personal loan borrowers’ CIBIL scores, which must be a minimum of 650 to be approved. The better your CIBIL Score, the greater your chances of obtaining the most excellent deal.

Personal Loan Agreements with PNB

To apply for a personal loan from PNB, you will need to provide the following documentation.

  • If you are applying for a loan online, you will need a completed loan application form or an online form.
  • 2 Photographs of the size of a passport
  • One of the following forms of identification is acceptable: driving license, PAN, passport, voter identification card, or Aadhaar card.
  • Residential Address Proof – One of the following options is acceptable: Rent agreement with a registered tenant, passport, leave and license increase, and utility bill from the previous three months are all required.
  • Income documentation includes a copy of Form 16 from the last two years, a three-month pay stub, and a three-month bank statement showing salary credit and any EMI debit.
  • Identity documentation, such as a voter identification card, passport, driving license, or similar document.

How to Apply for a Personal Loan from PNB?

The following is a step-by-step guide on how to apply for a personal loan from PNB online:

  • PNB’s official website may be found here. Alternatively, you may contact your local PNB branch.
  • Fill out the form with your personal, professional, and financial information, as requested by the lender, and submit it.
  • Once you have completed the application form, PNB will review it to determine your eligibility and give you information on the amount of money you are entitled to receive.
  • Upon confirming your agreement to proceed with the application, you will be requested to provide the relevant papers, which may also be uploaded to the website.
  • Finally, your paperwork will be evaluated by PNB, and if your loan application is approved, the funds will be paid to your PNB account as soon as they become available.

Personal Loans Can Be Obtained Online

You may also apply for personal loans with PNB by visiting a branch or phoning their customer service department to speak with a representative.

  • Visit your local PNB office and fill out an application form with the loan amount you need, your personal information, your professional information, and your contact information, as well as your contact number.
  • The representative from PNB will go through the loan’s eligibility requirements, the loan rates and conditions, and processing costs, prepayment, and foreclosure provisions with the borrower.
  • An application reference number will be supplied to you when you have submitted the application form and all needed documentation. It is possible to follow the progress of your PNB Personal Loan application by dialling the same number.

Factors Influencing the EMI on a PNB Personal Loan

Loan amount — If you take out a larger loan, you will pay a greater interest rate. PNB offers loans with a minimum of 50,000 rupees and a maximum credit amount of 15 lakh rupees.

Loan tenure – It refers to the length of time you have to pay back your loan with PNB. As a result, if you take a 60-month loan from PNB instead of a 12-month loan, your monthly installments would be cheaper. The reasoning behind this is that if you are given a longer repayment time, you will repay in smaller installments.

How to Make Payments on PNB Personal Loan EMI?

Paying your PNB Personal Loan EMI may be done in various ways, both online and offline. You may repay your PNB EMI online by logging into your net banking account, or you can utilize the PNB mobile banking application. PNB also offers the option of paying EMI by ECI, standing instructions, or a cheque facility, which may be obtained by visiting your local PNB bank.

Criteria for Eligibility for a Personal Loan from PNB

The following are the specific qualifying requirements for a PNB personal loan:

  • Confirmed or permanent workers of the federal, state, or local governments or public sector organizations who get their salaries from PNB and have a minimum of two years of work experience.
  • Others are expected to have a minimum of three years of job experience.
  • LIC agents under the age of 60 who have been in the business for at least five years and have a regular and consistent income while having an SF account with a PNB branch are encouraged to apply.
  • Third-party assurances that are appropriate

How to Calculate the EMI for a Personal Loan from Punjab National Bank?

The EMI for a Punjab National Bank Personal Loan can be determined quickly and simply. It is a one-step loan EMI calculator that is available immediately.

To get started, just enter the essential loan criteria, such as the loan amount, interest rate, and loan term. As soon as you press the Enter key, the system will display the following information: loan EMI, total payable interest, and total payment.

The monthly installment of a loan is determined by the following factors:

Interest rates: The interest rate is determined by the circumstances of the market. At the moment, the interest rate on a Punjab National Bank loan begins at 8.45 percent per year. The effective interest rate is determined by the specifics of your demand, the product, and your profile. The monthly payment, often known as the EMI, will increase as the interest rate rises.

Loan repayment period: The overall loan payback period has a direct impact on the monthly payments. The loan duration will be extended if the EMIs are reduced. However, whether or not you will be eligible for a longer term of employment is strongly related to your age. Long-term loans are more likely to be authorized for young individuals than for older persons.

Loan amount: The loan amount, in addition to the interest rate and loan term, is the factor that has the most impact on your EMI. You must always borrow in proportion to your ability to pay back the money you borrow.

Conclusion on Punjab National Bank Personal Loan

Among the various considerations lenders use to determine whether or not to accept a fixed-rate mortgage application, your credit score is simply one of several. A house loan may be obtained even if you have terrible credit, but the interest rate is likely higher than typical.

Indian Overseas Bank Personal Loan @ 10.90% to 11.40% Features, Types, Factors, How To Apply Documents and Interest Rates

Indian Overseas Bank Personal Loan @ 10.90% to 11.40% | Features, Types, Factors, How To Apply? Documents and Interest Rates

Leave a Comment / Loan / By / May 11, 2023

Indian Overseas Bank Personal Loan: Indian Overseas Bank personal loan is a broad term that refers to various unsecured borrowings like IOB Royal and Clean Loan with loan amounts of up to Rs. 15 lakh. Along with competitive personal loans, there are other features of the bank to consider, like the Indian Overseas Bank Loan Against Property.

These personal loans are easy to apply for and require minimum documentation along with the benefit of ensuring repayment within a period of up to 84 months.

The article will provide you with a precise idea about the IOB Personal Loan interest rate 2020 and also provides a step-by-step guide about how IOB Bank Personal Loan applies online.

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.

Indian Overseas Bank

Features of Indian Overseas Bank Personal Loan

  • Maximum loan amount: An Indian Overseas Bank Personal Loan has a maximum loan amount of Rs. 15 lakh. However, the loan amount you are qualified for is determined by a number of criteria, including your cibil score, age, and income.
  • Flexible term: Indian Overseas Bank (IOB) provides a variety of repayment alternatives as well as a flexible tenure that ranges from 12 to 84 months and maybe customised to fit your needs.
  • Online application: You don’t need to go to a bank branch or fill out and submit paper paperwork to apply for an Indian Overseas Bank personal loan; you can apply online and even complete the documentation process from the convenience of your own home.
  • Quick disbursement: Once all of your paperwork has been submitted and verified, the loan will be released to you as soon as possible.

Types of Indian Overseas Bank Personal Loan Products

  • IOB Royal: IOB Royal is offered to meet various socio/economic-financial needs
  • Quantum of loan: Up to Rs. 15 lakh
  • Repayment tenure: From 12 to 84 months
  • Clean Loan: The loan is offered for any purpose, including various personal financial commitments

Quantum of loan

If your employer undertakes to deduct the loan instalment from salary and remit to the bank or the salary is routed through the loan granting branch- Ten times of salary or Rs. 15 lakh (whichever is less)

For others- 5 times of salary or Rs. 1 lakh (whichever is less)

Eligibility Criteria for Indian Overseas Bank Personal Loan

For IOB Royal

A minimum gross income of Rs. 75,000 is required.

You must be at least 25 years old to apply.

For Clean Loan

To qualify for a Clean Loan, you must be a confirmed/permanent employee of a public sector undertaking/government, as well as a reputable private corporation, enterprise, or company.

After deducting the projected loan payment, your take-home pay should be greater than 50% of your gross salary.

If you work for a life insurance company, you are also eligible.

You must have a savings account in the branch where you suggested the loan, as well as the employee’s income being routed via the branch’s S.B account, where the loan is sanctioned.

Factors Affecting IOB Personal Loan Eligibility

Age: Each bank loan is tailored to a certain age group. There is a minimum and maximum age requirement. The maximum age refers to the age of the borrower at the time of the loan’s maturity.

Individual type: Some loans are only available to certain individuals. For example, the IOB Passion loan is only available to people who are enthusiastic about sports, music, the arts, and other related activities and have the appropriate abilities. This loan also allows those who want to make such activities their hobbies to borrow money.

Monthly Income: Your monthly income has an impact on your loan eligibility. While regular loans are available to everyone earning beyond a particular low-income threshold, there are loans specifically designed for high-net-worth individuals who make a high amount of income.

Job stability: IOB may ask you to demonstrate that you’ve worked at the same company for at least a year or two. This means that your employment is secure. Consistent employment means a consistent monthly paycheck. This indicates that if you take the loan, you will be able to return it.

Security or collateral: To obtain one of these IOB loans, you must provide security or collateral. This might be in the form of a third-party guarantee or hypothecating the thing you’re purchasing.

Credit score: If you want to receive a good or exceptional loan, you’ll need to have a good or outstanding credit score. If your credit score is ordinary or poor, the bank will be hesitant to lend you money. A low score indicates a significant chance of loan default. A credit score of 750 or above can help you acquire specific perks such as cheaper interest rates, better repayment choices, and so on.

Documents Required for Indian Overseas Bank Personal Loan Application

The following are the basic papers necessary to obtain an Indian Overseas Bank Personal loan:

  • Form of application
  • Passport, Pan Card, Voter Identification Card, Driving License, Aadhaar Card are all examples of photo identity evidence.
  • Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property Purchase Agreement (for owned properties), Aadhaar Card are all acceptable forms of address evidence.
  • Income documentation includes bank account statements, salary slips, ITRs, and Form 16s, among other things (depending on scheme and applicant type)
  • Additional Clean Loan Documents
  • Salary certificate for both the applicant and the guarantor, with deduction details
  • Employer’s undertaking to deduct monthly instalments and reclaim the debts from the terminal benefit (if necessary).

How to Apply for IOB Personal Loan?

The following is a step-by-step guide to getting a personal loan from Indian Overseas Bank online:

  1. IOB’s official webpage may be found here. Alternatively, contact an Indian Overseas Bank branch near you.
  2. Fill in the personal, professional, and financial information requested by the lender and submit the application.
  3. Indian Overseas Bank will assess your eligibility and offer you information about the acceptable amount you can borrow once you have submitted the application form.
  4. If you accept to proceed with the application, you will be needed to submit the relevant papers, which may be uploaded online as well.
  5. Finally, Indian Overseas Bank will process your paperwork, and the cash will be paid to your Indian Overseas Bank account as soon as the loan is approved.

Indian Overseas Bank Mortgage Loan or Loan Against Property

Loan against Property/ Mortgage Loans are available from Indian Overseas Bank for a variety of personal, professional, and business needs and purposes, including home repairs/renovation, weddings, children’s education, international travel, medical emergencies, asset purchases, working capital requirements for businesses, and business expansion. Indian Overseas Bank offers tailored Lending Against Property options, as well as best-in-class services and a streamlined loan procedure. On loan Against Property/ Mortgage Loan, it offers competitive, appealing, and reasonable interest rates.

Indian Overseas Bank Loan Against Property Interest Rates

Parameters Details
Interest Rate 10.90% to 11.40%
Max. Age of Applicant 60 years
Minimum Income Rs. 25000 and above
Max. Loan Amount 20000000
Max. Loan Tenure 7 Years
Work Experience 2 Years
Credit Score 650 and above
Security Equitable mortgage of the property in question
Uttar Banga Kshetriya Gramin Bank Personal Loan @ 14.50% | Benefits, Features, How To Apply? and Eligibility Criteria

Uttar Banga Kshetriya Gramin Bank Personal Loan @ 14.50% | Benefits, Features, How To Apply? and Eligibility Criteria

Leave a Comment / Loan / By / May 11, 2023

Uttar Banga Kshetriya Gramin Bank Personal Loan: Uttar Banga Kshetriya Gramin Bank is an Indian Gramin bank that was founded on March 7, 1977. Its headquarters are in Cooch Behar, West Bengal, at Sunity Road, Cooch Behar – 736 101. It has 149 locations around the state.

Savings accounts, fixed deposits, recurring deposits, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yo Pradhan Mantri Jeevan Jyoti Yojana, Bima Yojana Bima Yojana, among others.

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 article will help you know more about Gramin Bank Personal Loan Interest rate, Ubkgb Personal Loan Interest rate, and Ubkgb Personal Loan Calculator.

Uttar Banga Kshetriya Gramin Bank

Features and Benefits of Uttar Banga Kshetriya Gramin Bank Personal Loan

  • Maximum loan amount
  • There are several debt repayment alternatives available.
  • Applications for personal loans are processed quickly and easily.
  • Loan approved in a timely manner
  • The bank does not require a guarantor.
  • Interest rates that are both attractive and competitive
  • Employees of major corporations are eligible for special programmes and discounts.
  • Obtaining a personal loan usually does not necessitate the provision of security.

How to Apply for the Personal Bank Loan

Personal Loan Interest Rates at Uttar Banga Kshetriya Gramin Bank, Personal Loan at – 14.50 percent This page was last updated on November 20, 2021. Personal Loans may be applied for online. From the list below, you can learn about the Uttar Banga Kshetriya Gramin Bank Personal Loan Purpose, Eligibility, Margin, Personal Loan Repayment, Security, and Documents Required for Personal Loan.

Apply Online: You may apply online on the Bank website by filling up your personal and job details and submitting the required papers. After you’ve checked your loan eligibility, you may apply.

Offline Application: You may go to any Bank branch with all the relevant papers, fill out the form, and start the loan approval procedure.

Eligibility Required to Apply for the Loan

To satisfy a variety of financial demands, such as a vacation abroad, home relocation, family marriage, credit card bill payment, current loan payback, medical emergency, and so on, without having to worry about retaining any collateral or property.

  • Age range: 21 to 58 years old.
  • Permanent personnel of the state and federal governments, public sector undertakings, corporations, private sector businesses, and reputable institutions.
  • Regular revenue from a salaried or self-employed job.
  • An application must meet specific eligibility requirements determined by which bank grants the applicant’s request. There are two types of candidates:
  • Salaried
  • Self-employed
  • Both candidates must meet a variety of qualifying requirements.
  • Salaried Applicant: Applicants must be between the ages of 21 and 60 to be considered.
  • A borrower in a major city should have a minimum salary of Rs 18,000 per month. The minimum pay of a non-metropolitan town should be Rs 12,000 per month.
  • The borrower must have three years of job experience and get their pay directly into their account.
  • Strong credit history is required when applying for a personal loan.
  • The self-employed applicant:
  • A self-employed individual must be at least 25 years old.
  • In order to qualify for a personal loan, applicants will need to submit ITRs for the last three years.
  • An applicant’s credit score must be good, and there should be no outstanding debt.
  • The minimum sum should be at least Rs 2.5 lakhs each year.
  • If the applicant owns a business, it must have been operational for at least three years.
  • Number of years in current position/business/profession: up to three years

Required Documents for Uttar Banga Kshetriya Gramin Bank Personal Loan

  • Application for a personal loan that has been completely filled out and signed.
  • Photographs
  • Passports, voter ID cards, driver’s licence, PAN cards, Aadhar cards, and government department ID cards are all acceptable forms of identification.
  • Proof of income – most recent pay stub with all deductions or Form 16 with most recent pay stub (for salaried individuals)
  • Income Tax Returns from the prior two fiscal years as proof of income (for other than salaried individuals)
  • Bank account statement, most recent power bill, most current mobile/telephone bill, most recent credit card statement Existing leasing arrangement for the house
  • Bank statement or bank passbook with entries from the previous six months

Loan Repayment Scheme

Personal loans can be repaid in up to 60 instalments. It begins with 12 EMIs. Your credit score also determines the length of the repayment period.

To repay the loan, you can utilise any of the following options:

At your bank, set up a standing instruction.

With the help of the Internet Banking solutionECS (Electronic Clearing House) Automated Payment (Electronic Clearing Service)

If your bank offers a mobile banking application, you can use it.

Why take out a Personal Loan from Uttarbanga Kshetriya Gramin Bank?

  • To begin with, the processing price is really modest, and there are no additional fees.
  • In the second place, personal loan interest rates are pretty competitive.
  • In addition, an applicant for a personal loan can learn about his or her abilities in less than a minute across all branches.
  • In addition, the loan funds are disbursed within two days.
  • Furthermore, the financing rates are reasonable and adaptable.
  • In addition, the personal loan paperwork requirements are simple.
  • Furthermore, women receive preferential interest rates.

Personal Loan EMI Calculator

In most cases, calculating the monthly EMI on a personal loan is a time-consuming and challenging process for most of us. To calculate the Purvanchal Bank Personal Loan EMI, you’ll need to know how much money you’ll have to borrow and what interest rate you’ll be charged. The loan tenure is converted to months before using the following procedure to calculate the personal loan EMI.

This formula can be used to figure out an EMI on a personal loan:

[P x R x (1+R)N]/[(1+R)N-1], EMI

The letter in this formula stands for:

EMI stands for equal monthly instalments.

R is the interest rate, and l denotes the loan amount.

The principal amount, or the amount borrowed as a loan, is denoted by P.

The loan payback period, or the number of monthly instalments you will pay, is denoted by the letter N.

Bad credit scores make it impossible for you to be able to get a personal loan.

The credit score is simply one of the few factors reviewed throughout the home loan approval process to determine whether the loan application will be approved or rejected. If other variables aren’t up to par, your house loan application may be denied, even if you have a decent credit score. You can receive a house loan with a low credit score, but the interest rate will almost certainly be higher. The approval of a house loan is also influenced by other criteria such as the borrower’s age, income, and so on.

Stop thinking about where to get money for your children’s education or your company’s development if you’re weary of it. A personal loan is available to assist you in meeting your obligations. It is an unsecured loan, meaning that the borrower does not have to commit any of his or her assets to the lender. Hurry up and apply for a Uttarbanga Kshetriya Gramin Bank Personal Loan before you fall asleep in your chair.