Personal Loans - All You Wanted to Know

Whether you are looking for a way to tidy up your finances, replace your car or make some home improvements the personal loan helps to fulfill your dream. There are lots of real-life situations once we need finance either for our business or our personal desires like higher education or a marriage of our child. A personal loan could be a loan that is taken for immediate personal use and may be availed quickly for several purposes. Personal loans facilitate the individual to overcome the capital shortage. The best part of the personal loan is it doesn’t need any collateral security and it is can be easily available. The personal loan amount is often used for any personal financial need and the bank won't monitor its use.

The main of features personal loan bangalore are:

Personal loan is suitable for any purpose Like

●Holidays
●Marriage
●Education
●Investments
●Medical purpose
●Repay old loans

What is the loan tenure?

The minimum loan tenure is 1 year and maximum 5 years.

What are the age criteria?

For salaried, the minimum age is 21 years and maximum 60 years.
For Self employed the Minimum age required is 25 years and maximum 65 years.

What are the minimum and maximum loan amount?

The minimum loan amount for salaried is Rs. 50, 000/- and maximum Rs. 15 lakhs.
For Self employed the minimum loan is Rs. 1 lakh and maximum 20 lakh.

Documents required to process Personal Loan in Bangalore

Personal Loan for Salaried Employees

●Latest 3 Months Salary Slips
●Latest 3 Months Salary Credit Bank Statement
●Company ID card front and Bank
●Pan Card front and back (Photo clear copy)
●Present Address proof
●Permanent Address proof
●Date of joining proof on Present Company
●Photo
●Appointment letter and proof of work experience
●Sanction letters of existing/closed loans

 

Self Employed

●Photograph
●Pan card copy
●Business banking 6 months
●All existing loan sanction letters
●Qualification proof for professionals
●Residence and office address proof
●Business continuity/existence proof 3 years old
●IT Returns - CA certified copies for 2 years complete set

 

What are the interest rates on a personal loan?

The private loans in bangalore interest rates vary from bank to bank generally it ranges from 12.99% to 25%.

 

How do I compare the interest rates of personal loans?

Fill the essential detail on personal loan EMI calculator and compare the various personal loan interest rate and EMI offered by different banks and NBFCs.

 

Eligibility for Personal Loan in Bangalore?

●Minimum Salary 25,000 Required
●Minimum Age required 21 years and maximum age is 60 years
●If your Total work Experience is 1 year only, you can get the Loan
●Should be a Graduate

 

What are the advantages of Personal Loan?

The whole process of applying for Personal Loan In Bangalore From Private Finance and bank
for a loan takes less time than compared to other loans.

Personal loan agents in bangalore make life easier for those seeking fund or perhaps for those who wish to understand a lot of regarding a way to properly use Personal Loans towards debt or home payments. In addition having a specialized service, you can send the documents to just one location who forwards to different banks. With this, you'll receive offers from different banks with a lot of less work. Therefore, obtaining good Personal Loans will certainly become a far easier task.