A personal loan is made to provide financial assistance to the person, at the time when a person needs funds to meet his emergent needs or requirements. In the current scenario, the demand for financial aid has risen with the rising cost of living of people. At that time, Personal Loan is the best option to get rid of this financial assistance.
Why should one choose Personal Loan in Hubli?
- No collateral required
- Attractive interest rates.
- The flexibility of use.
- Easy repayment options.
- Fast Loan approvals.
Personal Loan Hubli Eligibility
Not everyone can get a personal loan. There are some criteria on the basis of them the bank provide a personal loan to the applicants. Let us discuss them.
There are two categories of applicants.
There are different criteria for both categories. Let us see both of them one by one.
- First of all the age of the applicant should be more than 21 years.
- After that he/she should be earning Rs. 18000 per month at least.
- After that, the applicant should have the work experience of 3 years at least.
- After that he/she should be getting the salary in his/her bank account.
- The credit history of the applicant should be good.
- If the applicant is self-employed than his/her age should be 25 years at least.
- He/she should be filing ITR for last three years at least.
- His/her CIBIL score should be good.
- The ITR should be of Rs. 2.5 Lakhs per annum at least.
Personal Loan Hubli Documents
- Identity proof: (Passport/Id card/voter card/driving license/Aadhar Card) It can be any one of them. Everyone easily has these documents, so there is no problem with the submission.
- Residence proof : (Passport/Id card/voter card/driving license/Ration Card/Aadhar Card). And if the applicant is living in a rented apartment, then they have to submit their rental agreement, electricity bill which has to be in the name of the applicant and the address of the owner.
- The applicant has to submit their PAN card which is an essential document under the KYC formality.
- If the applicant is a salaried one, then they have to submit their salary slip of the last three months and the bank statements of the last six months.
- And if the applicant is a self-employed then they have to submit the ITR of the last three years and registration of their business should be done.
- Two passport size colored photos. (Applicant should not be wearing glasses)
Personal Loan Hubli Interest Rate
Personal Loan generally comes with an affordable interest rate. The initial interest rate of the Personal Loan is 10.75% per year, but this rate keeps on varying from time to time. Also, the interest rate differs from person to person and also depends on one’s monthly salary or income.
Personal Loan Hubli Tenure
The tenure of the personal loan is one year to 5 years.
How to avail the lowest personal loan Interest Rates?
Following are the features of the lowest interest rates:
- Company Profile: The company profile may impact a lot in terms of interest rates. Banks have categorized the companies in different categories. They offer interest rates as per the category of company. So, if you are looking for a good deal, do check your company category.
- Online Comparison: Person should do detailed research online to compare the interest rates of all lenders. It helps the borrower to choose the best lender that suits their requirements. A person can use various tools like EMI Calculator, online comparison portals, loan helplines, etc.
- Negotiate with the lender: In case a consumer is already a customer of the lender, then chances of getting a good discount on interest rates will be more.
- Co-borrower: If a borrower’s credit rating is low then, the borrower can merge the income of spouse/father/mother to increase the loan eligibility.
Personal Loan Hubli Benefits
There are various benefits of taking a personal loan online. You can avail a good deal by comparing offers and finalizing the best one as per your needs. Here are some benefits of personal loan:
- A Loan without any collateral or security: A Personal Loan is not a secured loan. Banks don’t ask for any security or collateral. So, there is no need of pledging collateral or security. It is purely given as per the customers' income.
- Simple Documentation: Personal Loans are simple and easy. You can get it with minimum documentation with a quick process. Banks need some basic documents of a borrower like identity proof, address proof, income proof, etc.
- Loan Amount: The amount can be ranging from Rs. 50,000 to Rs. 20 lakh.
- Quick Loan Approval: It is easily sanctioned within 48-72 hours without any hassle. After getting the documents, banks will do the verification of the given details and the loan will get disbursed within 24 hours of confirmation.
- Multipurpose finance: Personal loan can be used for various purposes, i.e. in paying old bills, home improvements, wedding shopping, financing trips and many more.
- No Third party involvement: The loan is directly given to the borrower without the involvement of the third party. It is a relationship between the borrower and the lender.
- Hassle free: Getting a personal loan is now a hassle-free process. Online loan portals have made it more convenient and comfortable. You can get the loan amount in your account without stepping out of your place.
Hubli is a city in Karnataka. It is also known as Hubballi. It is a rapidly developing city after Bangalore. The name Hubballi means "Flowering creeper" in Kannada. The principal crops grown in the city are cotton and peanuts.
|Other Leading Personal Loan Providers in Hubli (Click to Apply)|
|Citibank Personal Loan||PNB Personal Loan||SBI Personal Loan||Other Banks|
|REMINDER SERVICES||EMI CALCULATOR|
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