Personal Loan is the loaning facility in which you get the loan amount from the bank without pledging anything against the principal amount. Thus, this loaning scheme is termed as the unsecured way of taking a loan amount from the bank. To avail this loan, you must have an excellent CIBIL score as there are no collateral banks first checks applicant’s CIBIL or credit score before moving any forward in the approval process. In case your CIBIL is not up to the standards that bank requires then no matter what bank won’t be providing you the loan amount.
About Personal Loan Guntur
Are you looking for a loan but can’t decide which one to take? Are you thinking about buying a new machine to lower the production cost but don’t have the required funds? Is your family asking you to make them on vacation, but you don’t want to empty your savings? Then we have here to help. With a personal loan, you can full-fill all your needs without even taking a penny from your savings account.
Now you might be thinking is it possible that a loaning scheme can provide you funds to purchase a new machine? The answer is yes it can as the name suggest personal loan is introduced by banks to assist individual so they can achieve their dreams without facing any financial roadblocks. In addition to this, it is one of the fastest and the most availed loaning schemes of all time as its readily available and has lower interest rates.
Eligibility for taking Personal Loan Guntur
For the self-employed applicant:
- First, the age criteria are 25 to 65 years for the independent applicant
- Your business has to be in service for about three years minimum.
- Business needs to yield 30 Lacs as the annual turnover.
- Most importantly your credit score needs to be above 750 to avail this loan.
For the salaried applicant:
- Firstly, 21 years to 61 years should be the age of the applicant for availing this loan.
- Also, your salary needs to deposit to a bank account.
- Furthermore, at the time of availing this loan, your credit score should be above 750.
- Similarly, one year of working experience with the current employer.
- In addition to this, one year of corporate experience is required.
Interest Rates for Personal Loan
The minimum rate of interest that you can expect on this loan is 10.70% annually. If someone is taking a considerable amount of credit and has the right banking history, the bank is more than happy to provide a low-interest rate. Also, you can quickly close your loan beforehand and save some of your money. The foreclosure penalty ranges from 2-3% of the total loan amount. In addition to this, you need to pay the pending loan amount also.
Documentation required for taking Personal Loan
- Residence proof:- Passport/ Driving License/Ration Card/ Aadhar Card / PAN Card/ Voter ID Card /Utility bills of the latest three months or you can provide your rental agreement papers.
- Salaried applicant Income proof: 6 months of salary receipt and six months of the latest bank statement.
- Income proof for Self-employed: last years ITR return documents and audited financial papers.
- Identity Proof:- Aadhar Card / PAN Card/ Voter ID Card/ Passport/ Driving License. The applicant can use any one of these following documents as an identity proof
Benefits of taking a Personal Loan
- See, first of all; these loans come with low interest rates in comparison to other collateral free loaning scheme.
- Also, the documentation process is fast and hassle-free
- Moreover, these loans have a high loan to value ratio.
- You can get the approval from the bank within 30 minutes for your application if your documents meet all the criteria.
- The tenure options are flexible and can be extended if required, and it comes with the top up feature as well.
- You can quickly pay the loan amount back as both banks and NBFCs provide multiple repayment options.
- Lastly, both salaried and self-employed applicant is eligible to take this loan and use it according to their own needs.
Personal Loan Guntur Tenure
The tenure of the personal loan is from 1 year to 5 years.
How to Apply?
Anybody can apply quickly for Personal Loan online within 2 minutes. The process of application is straightforward and fast.
- Visit www.dialabank.com.
- After that, apply for a Personal Loan online.
- Enter your contact number so that we can contact you back.
Dialabank is one of the best platforms to apply for a personal loan as we provide you all kinds of loan at a very affordable rate of interest.
Guntur is located in the state of Andhra Pradesh. The town resides 24 kilometers away from state capital Amravati. The earliest record of Guntur was in 922 – 929 CE. Furthermore, the city is famous throughout the country for its Chili, cotton and tobacco export