Gramin Bank of Aryavart Personal Loan @ 9.99% | Features, Eligibility, Advantages, How To Apply?

Gramin Bank of Aryavart Personal Loan @ 9.99% | Features, Eligibility, Advantages, How To Apply?

May 11, 2023 / Loan / By

Gramin Bank of Aryavart Personal Loan: Monetary or financial issues are something many people face. In those situations, they seek economic support by applying for loans. Applying for a personal loan helps you achieve all your financial objectives and consolidate all your existing debts.

The Gramin Bank of Aryavart personal loans are a great opportunity because of their fantastic repayment schedule and the Gramin bank loan interest rate.

The Gramin Bank of Aryavart is an Indian Gramin bank that was established on 1st April 2013. It merged with the Allahabad UP Gramin Bank on 1st April 2019 and became the Aryavart Bank. It has 1365 branches and around 22 regional offices.

The repayment plans provided by them are very versatile, and they even have an overdraft facility. The Aryavart Bank minimum balance for your account can be checked easily since the Aryavart Bank customer care number is open all day.

They provide services for the whole day and therefore will solve all your problems with utmost care.

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.

Gramin Bank of Aryavart

Key features of the Gramin Bank of Aryavart personal loan

  1. The consumer applying for the loan must be between the age group of 21-58. Their CIBIL score must be 750 and above as well. But one must remember that having a good credit score does not imply that their loan application will be accepted.
  2. The interest rate for a personal loan is 9.99% per annum. The minimum amount for giving a loan is 30,000, while the maximum loan amount is 1 lakh.
  3. The tenure period provided for the Gramin Bank of Aryavart for a personal loan is between 12 to 60 EMIs. As a result, an individual has the option to pay back the loan amount within this period according to their potential for repayment. The period of repayment is also dependent on the cibil score of the consumer.
  4. The processing fee at Gramin Bank of Aryavart for a personal loan is around 1% to 2%. They take no prepayment or part payment charges.
  5. They also have an overdraft facility. This will allow the consumer to borrow an amount from the bank when their account balance reaches zero.
  6. Their customer care services are open for the whole day, and hence one can always call their agents for any help. This allows better communication as well.

Eligibility criteria for applying for the loan

The eligibility criteria of those individuals who wish to apply for a personal loan at the Gramin Bank of Aryavart are:

  1. The individual has to be either salaried or self-employed. Only then can they apply for the loan.
  2. The individual has to be between the age of 21-58. Individuals who are less than the age of 21 or more than the age of 58 are not eligible for this loan.
  3. Individuals who are permanent employees of public sector undertaking corporations, private sector companies, central or state government, and reputed organizations can apply for this loan.
  4. The individual must have had a job or business for at least two years.
  5. They also must have worked with their current employer for at least one year.
  6. The monthly net income for the individual has to be a minimum of 25,000 for every month.

Necessary documents that are required for the loan

Before applying for the Gramin Bank of Aryavart personal loan, you need to make sure that you have all the necessary documents that will be required for the loan.

Given below is a list of all those documents essential that an individual will need for the loan.

  1. A filled personal application form that you must sign.
  2. Photographs
  3. A copy of passport, Aadhar Card, Driving License, Government department ID Card, PAN Card, and Voter ID Card is required to prove identification.
  4. A copy of the latest salary slip showing all the deductions is needed for the proof of income. Or carry Form 16 along with the salary certificate. (This documentation is required only for salaried individuals.)
  5. The Income Tax report for the previous two financial years is required. (This documentation is only for individuals who are not salaried.)
  6. A photocopy of bank account statement, latest mobile bill or telephone bill, existing house lease certificate, rental agreement, latest credit card statement, or latest electricity bill is essential for the proof of address.
  7. Bank statement that has the entries of the previous six months is needed.
  8. The latest two salary slips or the latest Form 16 and the current dated salary certificate are required.

Advantages of the Gramin Bank of Aryavart personal loan

  1. They provide you with the maximum amount for the loan. You can acquire a personal loan of up to Rs.1 lakh from the Gramin Bank of Aryavart to encompass a range of financial obligations.
  2. For repaying the loan, there is more than one option. This allows you to repay the loan with much ease.
  3. For an availing personal loan, no security is required. Hence, people who have issues in that field can easily apply for a personal loan here.
  4. The approval for your loan is speedy. You don’t have to wait for a long extended period of time for getting your loan approved.
  5. The processing of the loan application for a personal loan is straightforward. It is pretty as well. Hence, applying here will save you time and make it more accessible as well.
  6. The guarantor for the loan is not asserted upon by the bank.

How to apply for a personal loan at Gramin Bank of Aryavart?

Various ways are used which the consumer can apply for their personal loan. You can choose any one amongst these options given below and apply. But, make sure to check the eligibility criteria for applying for a personal loan before actually applying.

  1. The consumer can directly visit the branch of the bank and apply for a personal loan. They require to fill up the application form and provide the necessary documents. Doing so will their loan approval method start.
  2. An individual can also arrange a meeting with any of the sales representatives of the bank and apply for a personal loan.
  3. The consumer has the option of contacting a loan agent. They will assist the consumer and help them to apply for a personal loan.
  4. The option for applying online is also available. The consumer needs to go to the website of bank. There they need to fill in all the necessary information regarding their personal and professional life. After that, the required documents need to be uploaded.

Rejection of personal loan

There are various reasons based on which the bank can reject your loan application. Nothing can assure you a loan amount, but keeping a check on these few things may increase your chances of getting the loan.

  1. Avoid making too many enquiries. Enquiries are free of cost but making too many may cause a negative effect on your credit score.
  2. Maintain a good credit score. Having a good credit score will assure the bank that you can repay the loan amount without any defaults.
  3. If you have an existing debt of large size, then there are chances that your application may get rejected.

How to check the status of your personal loan at Gramin Bank of Aryavart?

  1. Log in to the specified net banking portal of the bank and then click on the top icon that says loans.
  2. Now, click on enquire for tracking your personal loan status.
  3. Open the webpage for loan status tracking of Gramin Bank of Aryavart. Now fill in the required things and check your loan status.

If you are not very comfortable doing it online, you can easily visit the nearest branch of the Gramin Bank of Aryavart and enquire about your loan status. The bankers will let you know about the quality of your loan.

How to check your statement for your personal loan

For checking your personal loan statement, follow the steps given below:

  1. Visit the bank’s official website.
  2. From the drop-down column, click on “Get in touch” and then click on “Requests for help” to proceed further.
  3. A new page will open. Here, under the “Loans” menu, click on the “Personal Loan Related” option.
  4. Now, click on the option of “Loan Account Statement Order”
  5. Lastly, log in using your specific user ID and password to check the loan statement. You can also log in with any of your registered mobile numbers and OTP.

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