Suryoday Small Finance Bank Personal Loan: The co-founder & chief executive officer at Suryoday Small Finance Bank is Baskar Babu. Suryoday Small Finance Bank started in 2009 as a microfinance institution. Initially, Suryoday bank started as a non-banking finance company (NBFC), and by today the company has served around 1.5 million people. Throughout the article, we will be discussing the introduction, eligibility of salaried and self-employed applicants, online and offline application form process, and FAQS.
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- Suryoday Small Finance Bank Personal Loan Services
- Suryoday Small Finance Bank Personal Loan Eligibility Criteria
- Suryoday Small Finance Bank Personal Loan Documents Required
- Steps to Apply for Suryoday Small Finance Bank Personal Loan
- FAQ’s on Suryoday Small Finance Bank Personal Loan
Suryoday Small Finance Bank Personal Loan Services
All financial services, including savings accounts, current accounts, deposits, lockers for secure deposits, personal loans, home/car loans, two-wheeler loans, educational loans, debit/credit cards, prepaid cards, Demat accounts, insurance, forex, premier banking, and many more are offered by Suryoday Small Finance Bank.
If you already have an account in Suryoday Small Finance Bank with a good credit card history, you are eligible for a personal loan. And it also provides low-rate personal loans and offers advanced loan approval for a customer. The bank also has an online website or application where you can submit your documents and KYC digitally.
If you want to check the application status for a personal loan in Suryoday Small Finance Bank, you can simply visit the bank’s website or customer care centre. This bank has special schemes, different occupation groups, and different income groups.
Suryoday Small Finance Bank Personal Loan Eligibility Criteria
There are two types of candidates: Salaried and Self-Employed. There are different conditions for their eligibility, and these are discussed below:
Eligibility for Salaried applicant
- If you are a salaried person and want to be eligible for this personal loan, your age should be 21- 60 years.
- You must have a minimum 15,000 salary income per month, but your net in cities like Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi monthly income should be Rs.20,000.
- The co-applicant is not mandatory for eligibility.
- You can repay the loan with interest within 12-60 months.
- The maximum amount of loan provided by this bank is Rs.40 Lakh.
- Employees of private limited companies and public sector undertakings are eligible for this loan.
- You must have at least 1-2 years of experience in your work.
- Your CIBIL score should be 750 and above.
- Your residential status should be Indian, whether staying in your own house or a rented house.
Eligibility for the self-employed applicant
- If you are a self-employed person and want to get eligible for this personal loan, your age should be 21 – 65 years.
- You must have a minimum Rs.5 Lakh income per annum.
- The co-applicant is not mandatory for eligibility.
- You can repay the loan with interest within 12-60 months.
- The maximum amount of loan provided by this bank is Rs.40 Lakh.
- Self-employed individuals are eligible for this loan.
- You must have at least 4 years Post Qualification experience for Doctors/ Chartered Accountants, 5 years Post Qualification experience for Company Secretary / Architect in your work.
- Your CIBIL score should be 750 and above.
- Your residential status should be Indian, whether staying in your own house or a rented house.
Suryoday Small Finance Bank Personal Loan Documents Required
If you want to get approved for a personal loan from Suryoday Small Finance bank Personal Loan, then the required documents are discussed below:
- If you are applying online for this loan, apply for an online form or fill up a loan application.
- The applicant requires two passport size photos.
- The candidates require a Driving License/PAN/Passport/Voter ID/ Aadhaar Card as identity proof.
- You should have a Registered Rent Agreement/ Passport/Leave and License/Utility Bill of the last three months as residential address proof.
- An applicant also requires additional documents like income documents – Copy of Form 16 of last 2 years, 3-month payslip, 3 months bank statement showing salary credit, and any EMI debit.
Steps to Apply for Suryoday Small Finance Bank Personal Loan
There are two methods for applying for a personal loan in Suryoday Small Finance Bank, you can do it online or directly visit the branch. We have discussed the process as follows:
The online process for a personal loan in Suryoday Small Finance Bank:
- You can visit the Suryoday Small Finance Bank or directly contact the Suryoday Small Finance Bank branch.
- You have to fill in personal, professional, and financial details in the form as per the bank’s requirement and then submit it.
- As you have submitted the form, kindly wait because the bank will check your eligibility and contact you about the eligible amount.
- After this, if you agree to process the application, there will be a requirement of essential documents, which you have to upload in the online form.
- At last, the bank will process your documents, and if they find you as the right person for a loan, then immediately Suryoday Small Finance Bank account will disburse funds to your account.
Offline process for a personal loan in Suryoday Small Finance Bank:
- You have to visit the Suryoday Small Finance Bank branch and fill up personal details, occupation information, and contact number in an application form.
- The representative in the Suryoday Small Finance Bank will explain to you the following things like loan rates, terms, processing fees, prepayment, and foreclosure clauses so that you have an idea of whether you are eligible or not.
- You will get an application reference number as soon as you submit the application form and required documents. You are provided with this reference number so that you can track the status of your Suryoday Small Finance Bank Personal Loan application.
- As you are successfully verified for a loan after loan sanction and signing the agreement, the loan can get disbursed immediately into your account.
FAQ’s on Suryoday Small Finance Bank Personal Loan
Question 1.
Is Suryoday’s small finance bank safe?
Answer:
As your deposits are safe in other known banks, in the same manner, these new-format banks are also safe. The Deposit Insurance and Credit Guarantee Corporation of India (DICGC) covers all public sector, private, local area, and regional rural banks, SFBs, and payments banks, too.
Question 2.
Where is the headquarter of Suryoday small finance bank? How many branches does Suryoday bank have?
Answer:
Navi Mumbai, Maharashtra, India, is the headquarter of Suryoday small finance bank. This bank has 31 branches in 6 states/union territories of India.
Question 3.
Is it possible to balance the transfer of my loan to another bank?
Answer:
If the bank from which you have taken a personal loan is charging higher interest than other banks, you can apply for a balance transfer of your loan, which will reduce your monthly burden.
Question 4.
What is the Suryoday Small Finance Bank Personal Loan Customer Care Number?
Answer:
1800 266 7711 is the customer care number of Suryoday Small Finance Bank for personal loans.
Question 5.
When can I contact the Suryoday Small Finance Bank Personal Loan Customer Care?
Answer:
You can contact the Suryoday Small Finance Bank Personal Loan Customer Care between 9 a.m. and 6 p.m. from Monday through Friday.
That’s all we can discuss Suryoday Small Finance Bank Personal Loan in our article. If you guys found it helpful and informative, share it with your friends and family.