Saptagiri Grameena Bank Personal Loan: Saptagiri Grameena Bank is a Gramin Bank of India. This Gramin Bank was founded on 1st July 2006, and Chittoor is the headquarter of this bank. The bank has around 200 branches across Andhra Pradesh.
Want to compare Saptagiri Grameena 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.
Saptagiri Grameena Bank
- Saptagiri Grameena Bank Personal Loan Details
- Saptagiri Grameena Bank Personal Loan Eligibility Criteria
- Saptagiri Grameena Bank Personal Loan Documents Required
- Saptagiri Grameena Bank Personal Loan Processing Time
- How to Calculate EMIs for Saptagiri Grameena Bank Personal Loan?
- Different Offers for Saptagiri Grameena Bank Personal Loan
- Saptagiri Grameena Bank Personal Loan Balance Transfer
- Saptagiri Grameena Bank Personal Loan Top Up
- Saptagiri Grameena Bank Personal Loan Status
- Saptagiri Grameena Bank Customer Care
- Saptagiri Grameena Bank Personal Loan Myths
Saptagiri Grameena Bank Personal Loan Details
Some of the details for Saptagiri Grameena Bank Personal Loan:
- If one wants to get eligible for this loan, their minimum age should be 21 years, and their maximum age should be 70 years.
- Your CIBIL score should be 750.
- 9.99% per annum is the personal loan interest rate of Saptagiri Grameena Bank.
- The loan repayment tenure of this bank is from 6 months to 72 months.
- The processing fees for this Katagiri Grameen bank personal loan are approximately 1%-2%.
- The minimum loan amount given by this bank is 50,000 rupees.
- The maximum loan amount given by this bank is 7,50,000 rupees.
Saptagiri Grameena Bank Personal Loan Eligibility Criteria
- The one applying for this loan must have a CIBIL score of around 750 or above.
- Your age should be between 21-70 then only you are eligible for this loan.
- Rupees 18000 per month is the minimum income required.
- You should be Salaried or self-employed.
Saptagiri Grameena Bank Personal Loan Documents Required
- You have to fill up the correct information in the application form for a personal loan.
- Copy of Passport/ Driving License/ Aadhar Card/ Voter ID Card is the documents required as identity proof.
- Rent Agreement (Min. 1 year of stay), Utility Bills, Passport (Proof of permanent residence), and Ration card are the documents required as an address proof.
- The last two Assessment years/ Salary Slip of the Last six months/ Bank Statement of the Last three months are the documents required as Proof of Income.
Saptagiri Grameena Bank Personal Loan Processing Time
The time taken by the bank for the approval of your loan application is known as processing time. A maximum of two days is taken as the processing time for a personal loan.
How to Calculate EMIs for Saptagiri Grameena Bank Personal Loan?
There are three steps for calculating Saptagiri Grameena Bank Personal Loan, and they are as follows:
- Amount of the Loan
- Interest Rate
Different Offers for Saptagiri Grameena Bank Personal Loan
Saptagiri Grameena Bank Home Loan
- Indian or a fully documented NRI, these both are eligible for the home loan provided by Saptagiri Grameena Bank.
- The minimum age requirement of an applicant is 18 years.
- The maximum age requirement of an applicant is 70 years.
- Your salary should be more than the required income.
Saptagiri Grameena Bank Personal Loan for Government Employees
- The government employees also get the offer of a personal loan from Saptagiri Grameena Bank.
- The amount of loan given by the bank entirely depends on your company’s reputation.
Saptagiri Grameena Bank Car Loan
- This bank offers car loans too.
- The loan amount provides 80-100% on a new car.
- The repayment of the loan can be made from 12 to 72 months.
Saptagiri Grameena Bank Personal Loan for Education
- The bank also provides education loans.
- If you are studying in India, you can go up to an Rs. 10 lakh education loan.
- If you are studying abroad, then you can get up to Rs. 20 lakh education loan.
Saptagiri Grameena Bank Personal Loan Balance Transfer
If you are sending your loan amount from one lending station to another, it’s known as a balance transfer, and it helps to lower the interest rate.
Saptagiri Grameena Bank Personal Loan Top Up
The supplementary amount financed by a company into your existing loan amount is known as a top-up loan.
Saptagiri Grameena Bank Personal Loan Status
If you want to check the status of your loan, then visit the bank’s official website.
Saptagiri Grameena Bank Customer Care
There are four ways to connect the customer care of Saptagiri Grameena Bank. They are as follows;
- You can call Saptagiri Grameena Bank on 08572-233598 (toll-free).
- You can also request a call back by visiting the bank’s website.
- If you have any queries, you can get answers by the iPal chatbot online.
- You can visit the nearby Saptagiri Grameena Bank branch to get your questions.
Saptagiri Grameena Bank Personal Loan Myths
Prepayment of Personal Loan always attracts Penalty
It’ completely false that prepayment of a Personal Loan always attracts a penalty. The prepayment penalty charges depend on the lenders. In many cases, it is also noticed that the lender does not charge any prepayment penalty.
Personal Loan at Lowest Interest Rate is the Best
It’s false that the Personal Loan at the lowest interest rate is the best. Many other essential factors matter while selecting the best lender for a personal loan. Factors like processing fee, eligible amount, tenure of loan repayment, service issues, other loan terms, etc., matter a lot. In addition to lower interest, you must consider other components too.
Hike in Interest Rate increases EMIs of Personal Loan
The loans obtained at a fixed rate of interest would not affect when there is a hike in interest rate. You can also increase the loan tenure case if you do not want EMIs to increase.
Your Loan Application Gets Rejected if you do not have Regular Income
There are chances of getting approval of a personal loan application, and you can also avail of a personal loan in cases where you do not have a regular source of income. If you add a joint holder with a steady income or borrow from peer-to-peer lenders, you can also have a loan approved by the bank.
Longer Personal Loan Repayment Tenure is Better
People think that longer personal loan repayment tenure is better as the borrower will need to pay lower EMIs. One can pay the amount comfortably, but this is a misconception. You will get higher interest outgo in longer repayment tenure, and you also have to pay interest for a longer period.
Interest Rates are not Negotiable
The personal loan interest rates depend on the customer. Customers who have a high credit score and a good income can quickly negotiate with lenders on interest rates and can also get comparatively lower interest rate loans.
Good Credit Score Guarantees Personal Loan Approval
Many factors like income, regularity of income, employer, employment type, etc., play an essential role in loan approval, so it’s a misconception if you think that carrying a good credit score will guarantee a personal loan.
You cannot Get a Personal Loan with a Poor Credit Score
If other factors are not up to the mark and still have a good credit score, you may also face rejection in the loan application. You can also get a home loan with a poor credit score, but you will get it at a higher interest rate. Other factors like the borrower’s age, the applicant’s income, etc., are also considered in home loans.
This is all we can discuss Saptagiri Grameena Bank Personal Loan in our article. We hope that if you are looking for a home loan, education loan, or any other loan, this article will be helpful and informative.