Ujjivan Small Finance Bank Personal Loan @ 11.49% | Interest Rates, Eligibility, Benefits, How To Apply?, Documents Required

Ujjivan Small Finance Bank Personal Loan: At the Ujjivan Small Finance Bank, individuals are offered personal loans for meeting their economic needs. There are a number of personal loans that they offer, such as medical loans, educational loans, home loans, home renovation loans, car loans and many more, which help people handle their financial needs smoothly.

The Ujjivan Small Finance Bank, Personal Loan Rate of Interest, is highly attractive, making the process of clearing debt simpler. In this writing, we have also talked about the Ujjivan Small Finance Bank Personal Loan Payment process, which will help you have a better understanding of the process.

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.

We have also included important factors such as eligibility, documents needed, and even the process for applying.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank Overview

Ujjivan Small Finance Bank is known as a wholly-owned subsidiary and has designed a new personal loan product for salaried professionals, which is a first for small financing banks in India in the personal loan segment.

Personal loans from Ujjivan Bank will assist you in meeting any personal financial needs you may have as well as deal with any unexpected emergencies.

Personal loans from Ujjivan Bank can be used for a number of purposes, including higher education, wedding expenses, medical bills, vacation planning, home improvement, and more.

At the Ujjivan Small Finance Bank the personal loan is intended to give consumers the best financial alternative in their moment of need. These personal loans are fully contactless, with an online application process and competitive interest rates.

Salaried professionals with a monthly salary of more than Rs. 15,000 can apply for Ujjivan Bank personal loans. Loans ranging from Rs 50,000 to Rs 15,00,000 are available to applicants.

Ujjivan Small Finance Bank Features

  • With interest rates as low as 7%, you may save even more money.
  • Unlimited free transactions at Ujjivan SFB ATMs using your choice of debit card – RuPay Classic Debit Card or RuPay Platinum Debit Card
  • A monthly money transfer limit of 3.5 lakhs is provided.
  • Every quarter, you’ll get ten free check leaves.
  • You’ll have access to trying to cut mobile banking in your choice of nine languages.
  • On Debit Card Activation, you will receive a gift voucher worth $150.
  • Annual Debit Card Maintenance Fees are Waived

How to Apply for a Personal Loan in the Ujjivan Small Finance Bank?

As stated previously, the full loan application process can be completed online through the Ujjivan Bank website. There are only four steps to finishing your online application:

  • Go to the ‘Explore Products’ section on the Ujjivan Bank homepage and select ‘Personal Loan.’
  • This page comprises all the information about the personal loan. Once you’ve read and understood them, click ‘Apply Now.’
  • It will guide you to a mould where you can enter your personal information such as names, email addresses, employment information, and date of birth.
  • After you’ve filled in these details, click ‘Proceed.’
  • A bank representative will reach you to assist you with the next stages and to finish the application.

Ujjivan Small Finance Bank Personal Loan Eligibility Criteria

The following requirements for getting a private loan from Ujjivan Small Finance Bank:

  • You must be a permanent resident of India.
  • You must be a salaried employee.
  • Your age should be within 22 and 58 years old.
  • At least Rs. 15,000 should be your net monthly salary.

Ujjivan Small Finance Bank Personal Loan Documents Required

For the application for a personal loan at Ujjivan Small Finance Bank, you’ll need to have the following documents:

  • Proof of Address: This could be a passport, a driving license, an Aadhaar card, or an election ID card, among many other things.
  • Proof of Income: This includes your latest three months’ payslips.
  • Bank Account Statement: This is the statement from your main functional bank account or salary account for the previous six months.
  • PAN Card (Personal Identification Number) (Mandatory)
  • ID Card for the Company

Ujjivan Small Finance Bank Personal Loan Features

The following points are a few of the key features of Ujjivan Small Finance Bank’s personal loan:

  • Flexible loan amount: One can receive a loan for anything between Rs. 50,000 and Rs. 10,00,000.
  • Collateral not needed: One does not need to keep putting up any collateral or security in order to have a personal loan from Ujjivan Small Finance Bank.
  • Flexible loan repayment time: One can return the loan more than a period ranging from one to five years, depending on the needs.
  • Quick approval: Generally, the loan is authorised within four working days of the application being submitted.
  • Borrower insurance: Ujjivan Small Finance Bank offers a loan protection policy in addition to a personal loan for the borrower’s benefit.
  • Interest rate: Ujjivan Small Finance Bank’s personal loan interest rate now starts at 11.49 per cent annually. However, the exact interest rate that applies to an applicant is based upon a number of factors, including the applicant’s credit history, loan amount, and desired tenure, among many others.
  • Value added services: In addition, the bank provides value-added services such as loan insurance to safeguard your personal loan. Loan insurance will cover the payback in the event of an unforeseen event that renders you unable to pay back the loan, removing the burden of repayment from you or your family members.

Types of Personal Loan offered by Ujjivan Small Finance Bank

Group Loans

The Joint Liability Group (JLG) arrangement provides loans with low-interest rates. You can choose an appropriate alternative from the following items depending on the nature and purpose of your needs:

  • Business Loan
  • Family Loan
  • Agriculture and Allied Loan
  • Education Core Loan
  • GL Top-up Loan
  • Emergency Loan
  • Education Loan (Top-up)
  • Loyalty Loan

Features

  1. Amount of loan: 2,000/- to 60,000/-
  2. On a declining balance strategy, the rate of interest is 22% per year (governed by the MCLR based pricing policy of the bank)
  3. Processing Fee: 1.2% per cent of the loan amount (excluding GST) (applicable for loans over 25,000).
  4. 6 months/1 year/1.5 years/2 years tenure

Gold loan

Whether you’re hoping to broaden your business or build your dream home, fund your child’s education, or plan a trip overseas, your gold can now meet your current financial needs. Bring your gold jewellery to any of our stores to apply for a loan with instant approval and no hidden fees. Apply for a Gold Loan today and let the financial power of your gold working for you.

Takeaways from the Article

At the Ujjivan Small Finance bank, individuals are offered various personal loans for supporting their financial needs. The bank offers various types of personal loans such as gold loan, medical loan, ho

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