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 Limited Personal Loan Highlights
- Saraswat Bank Personal Loan Interest Rate
- Saraswat Cooperative Bank Limited Personal Loan Features
- Saraswat Cooperative Bank Personal Loan Eligibility
- Saraswat Cooperative Bank Personal Loan Documents Required
- Saraswat Cooperative Bank Personal Loan Advantages
- Methods to Apply for Saraswat Cooperative Bank Personal Loan
- Conclusion on Saraswat Cooperative Bank Personal Loan
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.
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.
- 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.
- 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.
- 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.
- 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.
- PAN card
- Aadhar Card
- Voter ID card
- Driving license
- Government department ID card.
2 Colored photographs and a passbook
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.
There are two main methods to apply for a personal loan, so choose the means you like.
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.
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.
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 (firstname.lastname@example.org) also.