Kalyan Janata Sahakari Bank Personal Loan | Features, Benefits, Eligibility Criteria, Documents Required, How To Apply?

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

It is very easy to access Kalyan Janata Sahakari Bank Personal Loans. Personal loans are most utilised during emergencies ranging from medical to personal. In medical cases, often, people take personal loans to pay off hospital bills.

This article helps the reader better understand details related to Loan application, such as-Kalyan Janata Sahakari Bank interest rates, Kalyan Janata Sahakari Bank savings account login, Kalyan Janata Sahakari Bank balance check, 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.

Kalyan Janata Sahakari Bank

Kalyan Janata Sahakari Bank Overview

The Kalyan Janata Sahakari Bank, founded in 1973, has balanced traditional and new-age banking to incorporate a wider customer service. The bank is at par with other banks regarding modern services and availability of funds.

The bank’s history dates back to the year 1970 when two advocates, Advocate Bhaurao Sabnis and Shri. Vasantrao Purohit took an in founding a bank for the predominantly middle-class people of Kalyan. And ultimately, as a result of their efforts, The Kalyan Janata Sahakari Bank was formed.

About the Kalyan Janata Sahakari Bank

The Kalyan Janata Sahakari Bank is a multi-state Cooperative bank that has its foundations in India. The Kalyan Janata Sahakari Bank was founded on 27-02-1986.

The bank has its headquarters in Maharashtra and has 42 branches spread all over Maharashtra. It holds itself up to high standards of customer service and is revered by all its customers.

Kalyan Janata Sahakari Bank Features

  • The maximum loan application is available for all applicants that match the criteria
  • The loan can be paid off in various methods, like with other mortgages and in various other methods
  • Loans can be paid off in installments; the EMI method of payment is very helpful in rural areas where poorer people cannot pay in huge amounts at a single time.
  • Special business loans for businessmen affected by the Covid pandemic
  • Competitive interest rates for savings account

Kalyan Janata Sahakari Bank Personal Loan Features

  • Maximum loan amount: The borrower can avail of the full amount of loan allowed by the bank. This helps a lot in crises when someone requires a substantial amount of money and wants to avail of a Personal loan.
  • Multiple loan repayment options: In the Kalyan Janata Sahakari Bank scheme, the borrower doesn’t need to pay back the borrowed amount just via money; one can also use different payment methods like mortgaging something of equivalent value.
  • Fast & easy processing of personal loan applications: Kalyan Janata Sahakari Bank has one of the quickest processing times for personal loans. As personal loans are taken out mainly during an emergency where one needs money, fast processing is a lifesaver.
  • Quick loan approval: If a person’s submitted documentation and papers are in order, Kalyan Janata Sahakari Bank has the fastest loan approval system helping its customers tackle emergencies with ease.
  • The bank does not insist upon a guarantor: The approval of the personal loan does not need another person as guarantor to be present and to be held accountable if the borrower fails to pay for the money.

Kalyan Janata Sahakari Bank Personal Loan Eligibility Criteria

  • Age: 21 to 58 years.
  • The borrower needs to be a permanent employee of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
  • Salaried / Self – Employed with regular income.
  • The borrower has to be employed for a minimum period of three years to be eligible for the loan.

Kalyan Janata Sahakari Bank Personal Loan Documents Required

  • The signed and filled up personal loan application form with the necessary details. One must also make sure that the details the borrower has filled in are accurate.
  • Photographs of the passport size need to be submitted to the bank branch along with the signed loan application. Mostly the bank requires more than one copy of the current photograph.
  • Proof of identity for the person who is asking for the loan. Viable proofs of identity include Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card.
  • The borrower has to provide proof of his income, i.e. his salary certificate, along with the latest salary slip.
  • Proof of income- Income Tax Returns of 2 previous financial years (for other than salaried individuals)
  • Proof of Address – Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
  • Bank Statement or Bank Pass a copy of the PassBook of the bank one has an account in having entries of the last six months.

How To Apply for Kalyan Janata Sahakari Bank Personal Loan?

Online Method

One can apply for Kalyan Janata Sahakari Bank Personal Loan by following these easy steps detailed below.

Step 1: Visit the bank website, find the personal loan option, and select the option for Kalyan Janata Sahakari Bank Personal Loan. Click on apply, and a new screen will open.

Step 2: A new screen will open, which is essentially a form. The form needs to be filled up with essential details like name, address and other personal information.

Step 3: After putting in the personal details, one has to click on apply for loan. After this, a new window opens where one has to put in other essential information like account numbers and the documents needed for loan approval. Finally, after double-checking the information, click on submit to submit your loan demand.

Offline Method

It is not just the online method via which one can apply for a loan. For the offline method, the borrower needs to visit any Bank branch, fill out the form with all the essential required details, and submit it with whatever documents are required.

Reasons for Kalyan Janata Sahakari Bank Personal Loan Rejection

  • Poor Credit Score: Credit Score defines the borrower’s credibility to repay the loan, and thus a low credit score will lead to cancellation of the loan proposal.
  • Higher size of existing debt: A borrower’s loan application can be rejected by the bank if the borrower already has a big existing debt.

Types of Loans offered by Kalyan Janata Sahakari Bank

  • Gold Loan
  • Travel Loan
  • Retail Loan
  • House Loan
  • Education Loan
  • Loans offered against Mortgage
  • Auto Finance Loan
  • Car Loan
  • Top-Up Loan

Myths about Kalyan Janata Sahakari Bank Personal Loan

  • Prepayment of a private mortgage always draws Penalty: It is a myth that if one pays the price of a private mortgage in advance, it extracts a penalty. It depends absolutely upon lenders to be able to charge any penalty on prepayment.
  • Lengthy Private Loan Reimbursement Term is favorable: It is not true that the longer the reimbursement term, the greater the rate of interest.
  • Your loan application is denied if you do not have a regular income: It is a myth that if one does not have a steady source of income, the loan might not get approved. Loan permission can be granted if one adds a joint owner that has a steady source of income.

Conclusion on Kalyan Janata Sahakari Bank Personal Loan

Thus, this concludes the article detailing personal loans and, in particular, Kalyan Janata Sahakari 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.

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