A Personal Loan is given by bank without any security, co laterals or guarantee.
*Rate of Interest & Processing fees of Major Banks (It may change without prior notice)
|Loan Provider||Loan Amount||Interest Rate||Processing Fee||Tenure|
|HDFC Bank||50k-30L||11.49%-20%||0.5%-2.5% of loan amount||12 TO 60 MONTHS|
|ICICI Bank||50k-25L||11.49%-22%||1%-2.5% of loan amount||12 TO 60 MONTHS|
|Axis Bank||50k-20L||13.5%-24%||2% of loan amount||12 TO 60 MONTHS|
|Kotak||50k-15L||11.5%-24%||2% of loan amount||12 TO 60 MONTHS|
|Bajaj Finserv||1L-25L||15.5%-18%||2% of loan amount||12 TO 60 MONTHS|
|Standard Chartered||50k-25L||13.5%-22%||0.5%-2% of loan amount||12 TO 60 MONTHS|
|Tata Capital||50k-20L||11.99%-19.0%||999/- 2% of loan amount||12 TO 60 MONTHS|
|IndusInd Bank||50k-20L||11.99% – 23%||2% of loan amount||12 TO 60 MONTHS|
Personal Loan criteria for customers :
• Applicant should be an Indian citizen over 21 years of age.
• Must be employed for the 12 months or more.
• Minimum salary should be 15,000/- per month or more and bank it should be credited regularly to the Salary account.
• CIBIL Score should be more than 720
Personal loans don’t take too long to process. Banks usually disburse your loan within seven working days. However, it is recommended that you keep all your documents ready and in order, especially the post dated cheques (PDC), to avoid any delays. How fast you get your personal loan is dependent on your document collection process.
Documents Requirement :
|S.No.||For salaried Customer||For Self Employed Customer|
|1||1 Photo & Signed Application Form||1 Photo & Signed Application Form|
|2||KYC Documents (Proof of identity, DOB, Signature Proof and Residence Proof)||KYC Documents (Proof of identity, DOB, Signature Proof and Residence Proof)|
|3||-NA-||KYC Documents of Firm/Company|
|4||Latest 3 Months salary slips||Last 3 Years ITR Copy, Computation of income (Self & Company or Firm).|
|5||Last 3 Years Form-16 / Last 3 Years ITR Copy||3 Yrs. Profit and Loss A/c and Balance Sheet Copy.|
|6||6 Months salary account statements reflecting salary credit.||12 Months Saving A/c statements & 12 Months Current A/c statements|
|7||Existing Loan Details with Bank statement of 1 Yr.||Existing Loan Details with Bank statement of 1 Yr.|
Team FinancialDistributor will be glad to offer you expert advice and guidance in order to help you choose the right bank/financial institution to get the cheapest rate of interest with maximum tenure along with maximum savings.