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Personal Loans
With Banks providing personal loan you can get instant money for a
wide range of your personal needs like
- Renovation of your Home
- Marriage in the Family
- A holiday with your family
- Your child's education
- Buying a Laptop or a home theatre
- Medical expenses or any other emergencies
Whatever be the reason, you no longer need to hold yourself back.,
just choose Personal Loan from any bank and put all your worries
to rest.Oneshopfinance offers quotes for Personal Loan in Mumbai,
Personal loan in Pune,Personal loan in Delhi.
Compare personal loan offers and get best deals on personal loans
in India from banks.Get Low Interest Rate Personal Loans .Get personal loans
upto 17 Lakhs and upto 7 Years.Get short term and long term personal loans.Get
Unsecured Personal Loan.Get Loans from Bank in Mumbai,Pune,Delhi
Eligibility
A number of factors are taken into account when assessing your repayment
capacity. Your income, age, number of dependants, qualifications,
assets and liabilities, stability/ continuity
To qualify for a personal loan, the following criteria apply
- Applicant can be a salaried / self-employed individuals and
should be a resident Indians.
- Professional self-employed individuals eligible for a personal
loan are Doctors, Chartered Accountants, Cost Accountants, Company
Secretaries, Architects, Engineers and Management Graduates.
- The minimum age of the Applicant / Guarantor should be 21 years
for salaried and self-employed individuals.
- The maximum age of the Applicant / Guarantor at loan maturity
should be 58 years for salaried individuals (60 years for Central
Govt. employees) and 65 years for self-employed individuals.
- The minimum years in continuous employment / business should
be 1 year for salaried individuals and 2 years for self-employed
individuals.
- The minimum net annual income should be Rs.75,000 p.a. (including
co-applicant's or applicant's income) for salaried and self-employed
individuals.(Different banks Have different income criterias).
- The minimum stay at current residence should be 1 year for salaried
and self-employed individuals
Top
Documents
required
- Complete loan application form with 4 photographs
| 2. Proof of Applicant's Identity (any one of the
following) |
| Passport |
Photo Pan Card |
| Defence Identity Card |
Voter's Identity Card |
| Driving Licence |
Photo Ration Card |
| Government Identity Card |
|
3. Proof of Residence
| Passport |
Ration Card |
| Telephone (Land/Mobile) Bill |
Electricity Bill |
| Driving Licence |
Society Outgoing Bill |
| Voter's Identity Card |
Life Insurance Premium |
4. Proof of Age
| Passport |
Voter's Identity Card |
| Birth Certificate |
School Leaving Certificate |
| LIC Policy or Premium clearly indicating the applicant's age |
Letter from the employer stating the age of the employee* |
| Photo Ration Card |
|
| * Applicable only for employees of select Public
Limited Companies. Conditions apply. |
5. Financial documents
| Salaried Individuals |
Self-employed Individuals |
Latest salary slip showing statutory deductions
OR |
Computation of income for the last 2 years certified by a
C.A.
OR |
Form 16 (Declaration from employer giving details of income
and deductions, duly signed by an authorised signatory of the
company)
OR |
P&L and Balance Sheet for the last 2 years certified by
a C.A.
AND |
Latest acknowledged IT Return
AND |
Copies of acknowledged IT Returns for the last 2 years
AND |
| Bank statements for the last 3 months |
Bank statements for the last 6 months |
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Application
Process
The moment you anticipate the need for the money, you can put in your
application.
Service Charges
- Generally processing fee of 2% of the loan amount is applicable.
These fees are deducted upfront from the disbursement amount.
- Generally Prepayment of the loan is possible after 180 days
of availing the loan.
- Foreclosure charges as applicable would be levied on the outstanding
loan.
- Part pre-payment is not allowed.
- No other fees or commitment charges are levied.
| Description
of Charges |
Personal
Loans |
| Loan Processing Charges / Renewal Charges |
2* % of
loan amount |
| Prepayment Charges (varies from bank to bank) |
5% on the principal outstanding |
Top FAQs
What
are the minimum and maximum loan amounts?
You can avail of loans ranging from Rs 20,000/- to Rs 15,00,000/-
depending on your eligibility, income and repayment capacity.
What are the loan tenure options?
The loan can be repaid over a period of 12 to 60 months.
Are there any additional charges?
A processing fee of 2% of the loan amount is payable upfront. This
fee will be deducted from the disbursal amount payable to you.
How much time will it take for my loan to be approved?
Loans are approved within 72 -96 hours of submission of complete
documentation.
Do I have to provide any security, collateral or guarantors?
No security, collateral or guarantors are required for obtaining
a Personal Loan.
How do I repay the loan?
You can repay the loan in Equated Monthly Instalments (EMI's) through
post-dated cheques favouring Bank from which you are taking loan
, or if you have an Bank account with the bank from which you are
taking the loan you can mandate direct debit.
Can I prepay my loan?
Generally Yes, you can prepay the entire loan outstanding anytime
after 180 days of availing the same. This may vary from bank to
bank Prepayment charges as applicable would be levied on the outstanding
loan amount. No part prepayment is allowed
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