A personal loan is an unsecured loan availed by individuals who are in an urgent need of finances. Since it is an unsecured loan so it does not involve any kind of security charges or borrower’s assets to be mortgaged with the banks or the lenders lending him the money. Personal Loan can be used for a number of purposes for eg to carry unplanned foreign trips, education of children, to overcome medical emergencies etc. The coming up of internet techonology has made it more easy to get cash with great ease without facing any difficulty.

Features and Benefits of Personal Loan Daman and Diu

No Securities Required: The banks and NBFCs do not require the collateral for these loans.
No Extra Documentations: The loaners do not hassle their customers for the documents and hence they only ask for the basic ones.
Amount of loans: The loan amount is very genuine and ranges from Rs 25000 to Rs 20 Lacs. The amount is totally dependent on the income of the applicant.
Instant Approvals: The instant approvals are possible once the documents are verified.
Multi-Purpose: The loans can be used for many ways like medicals, household shopping and house renovation.

Personal Loan Daman and Diu Interest Rates

The interest rates are applied 10.75% onwards
The processing fee is upto 2% of the loan amount.
The loan tenure ranges upto 5 years.
The lowest EMI per lakh is Rs 2,162
The prepayment charges are NIL upto 5 percent.

Eligibility Criteria for Personal Loan Daman and Diu

You are eligible for availing a personal loan if you fall under any of the following categories
If you are a Salaried employee or
A self-employed individual
Salaried Individuals
For salaried individuals the following are the requirements:
1. Salary should be 18,000 or above (Monthly).
2. Age criteria: 21-60 years of age.
3. Experience at Work Place: overall experience should be of 3 years and experience of 1 year in the current job.
4. Most importantly, you should posses a CIBIL score more than 700.
5. Lastly, a person who gets his salary cash in hand is also not eligible for availing a personal loan. You must have your salary slips for proofs.
For Self-Employed Individuals: 
1. The age of the borrower varies from 25 years to 65 years.
2. Should have filed annual Income Tax Returns of 2.5 to 3 Lakh.
3. Residence Proof: Should own an office or house of his own.
4. Stability at Workplace: Should own a financially stable business which is being running from the last 3 years.
5. Again, most importantly should posses a CIBIL score of more than 700.

Documentation Required for Personal Loan Daman and Diu

We have a list of some of the mandatory documents including you’re:
Identity proof: PAN Card or Voter ID card or Driving License or Aadhar Card or your passport.
Either of these documents could be presented in the form of your identity proof.
Residential Proof: could again include any of the following documents:
Voter ID card
Driving License
Rent Agreement
Water or Electricity Bills
Aadhar Card
PAN Card
Income Proofs: your income proofs should include your salary slips of the previous 6 months or your bank account statements where you get your salary. If you are a self-employed individual; also your Income Tax Return statements for the last 3 years are also mandatory.
Note*: it is important to know that if you are not getting your salary in a bank account then you don’t fulfill the eligibility criteria for availing a Personal Loan.

Application Procedure for Personal Loan Daman and Diu

The online modes have made the process even more convenient and hassle free. The application could be quickly made online within 2 minutes.
1. Visit our official web portal i.e. www.dialabank.com.
2. After that, apply for a Personal Loan online.
3. Enter your contact details so that we can contact you back.
4. We are always available on our toll free number (987898116) to provide you with the right knowledge about loans, interest rates etc.

Know more about Daman and Diu

Daman and Diu, a Union Territory of India, was the Portuguese colonies in the 15th century. The total area of these islands in 112 Sq. Km. The total population of 2,42,911 (2011 Census) is living here in peace. The major economy of the area is from tourism and fishery. People here are mostly self-employed or are employed with the government organization.