Everyone needs external financial help at some point in time. A Personal Loan is a scheme that offers monetary support to people for meeting personal requirements of life. The loan is unsecured in nature that does not require any asset to pledge as security with the lender. A Personal loan is an immediate finance provided by the lender to the borrower. The borrower can avail personal loan from any lending institution, private sector bank as well as from government sector banks.

Why should one choose a Personal Loan Thanjavur?

  1. Less Paperwork: It requires less documentation as compared to the other loans offered in the market.
  2. Multipurpose loan: The Loan amount can be used to handle any financial problems of life.
  3. Simple procedures: It is a simple loan scheme as there is no process to check the collateral.
  4. No security required: It does not require any collateral. It is purely based upon the income and the credit score of the person.

Personal Loan Thanjavur Eligibility

There are some Eligibility Criteria regulated by Banks to get a loan. You must be eligible if you want finance to meet your requirement. 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 the applicants.

  1. Salaried
  2. Self-employed

There are different criteria for both categories. Let us see both of them one by one.

Salaried Applicant

  1. First of all the age of the applicant should be minimum 21 years and maximum up to 60 years.
  2. After that he/she should be earning Rs. 18000 per month at least.
  3. After that, the applicant should have the work experience of 3 years at least.
  4. After that he/she should be getting the salary in his/her bank account.
  5. The credit history of the applicant should be good.

Self-employed Applicant

  1. If the applicant is self-employed than his/her age should be minimum 25 years and maximum up to 65 years.
  2. He/she should be filing ITR for last three years at least.
  3. His/her CIBIL score should be good and the credit score should be more than 650.
  4. The ITR should be of Rs. 2.5 Lakhs per annum at least.

Salaried People

Parameters

Metro

Tier-2

Tier-3

Tier-4

CitizenShip

Indian

Same as Metro

Same as Metro

Same as Metro

Minimum Age

21 Yrs

Same as Metro

Same as Metro

Same as Metro

Maximum Age

58 / 60 Years at loan maturity

Same as Metro

Same as Metro

Same as Metro

Salary

18,000

12,000

10,000

10,000

Experience

Overall 3 years

Same as Metro

Same as Metro

Same as Metro

Telephone / Mobile

Mandatory

Mandatory

Mandatory

Mandatory

Current Experience

One year

One Year

One Year

One Year

Salary in Cash

Not Applicable

Same as Metro

Same as Metro

Same as Metro

 

Self Employed People

Parameters

Metro

Tier-2

Tier-3

Tier-4

Citizenship

Indian

Same as Metro

Same as Metro

Same as Metro

Minimum Age

25 /28 Yrs

Same as Metro

Same as Metro

Same as Metro

Maximum Age

65 Year at the loan maturity

Same as Metro

Same as Metro

Same as Metro

 

ITR required

2.5 lakhs - 3.0 Lakh

Same as Metro

Same as Metro

Same as Metro

Residence

Office or Home should be Owned

Same as Metro

Same as Metro

Same as Metro

Telephone / Mobile

Mandatory

Mandatory

Mandatory

Mandatory

Business Stability

business should be running from last 3 years

Same as Metro

Same As Metro

Same as Metro

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal Loan Thanjavur Documents

When the applicant applies for the personal loan after that, they have to submit some of the documents. These are:

  1. The applicant has to submit their identity proof which includes aadhaar card, passport, voter card,  driving license.
  2. Two colored photographs
  3. They have to submit residence proof which includes updated passbook, aadhaar card, passport, voter card, etc. 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.
  4. They have to submit their PAN card which is an essential document under the KYC formality.
  5. 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.
  6. 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.

Salaried

Self-Employed

Salary slips of last 3 months & bank statements of the last 6 months

 ITR of 2.5 lac minimum for last 3 years

 Identity Proof: Aadhaar Card/Pan Card/Voter Id/ Driving License/ Passport

 Address Proof: Aadhaar Card/Pan Card/Voter Id /Passport/Driver License and if the person is living in a rented apartment then rental agreement, electricity & water bill and    owner’s address

 Two colored photographs

PAN Card

credit score above 650

 

 

 

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Personal Loan Thanjavur Interest Rate

Personal loan interest rates vary according to banks and customer profile. Some Institutions provide special offers to their regular customers like affordable interest rates, low processing fee, affordable EMIs and long tenure period. Check interest rates offered by different banks in the country.

Personal Loan Interest Rates

Bank/NBFC

Interest Rate

Processing Fees

HDFC Bank Personal Loan

10.99% - 20.00%

Up to 2.50% of the loan amount  min of Rs.1,999 & Max Rs.25k

Yes Bank Personal Loan

10.75% - 16.99%

Up to 2.50% of the loan amount mini Rs.999 + taxes

ICICI Bank Personal Loan

11.50% - 16.75%

Up to 2.25% per annum of loan amount plus GST

Bajaj Fiserv Personal Loan

12.00% - 16.00%

Up to 3.99% of the loan amount

Kotak Mahindra Bank Personal Loan

11.00% - 24.00%

Up to 2.5% of the loan amount + GST and other applicable statutory levies

 

 

CIBIL score required 

CREDIT SCORE CHART

Score

Grading

APRs

720 and Above

Excellent

10.03% - 12.05%

680 to 719

Good

13.05% - 15.05%

620 to 679

Average

17.08% - 19.09%

580 to 619

Poor

19.9% - 21.09%

500 to 579

Bad

21.09% - 24.07%

Less than 500

Misearble

28.05% - 32.00%

 

 

 

 

 

 

 

 

 

 

How to avail the lowest personal loan Interest Rates?

Following are the features of the lowest interest rates:

  1. 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.
  2. 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.
  3. 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.
  4. 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 Thanjavur Tenure

The tenure of the personal loan is from 1 year to 5 years.

Personal Loan Thanjavur Benefits

Personal loans are multipurpose finance options. 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:

  1. A Loan without any collateral or security: A Personal Loan is not a secured loan. Banks don’t ask for any security or guarantee. So, there is no need of pledging collateral or security. It is purely given as per the customers' income.
  2. Simple Documentation: Personal Loans are simple and easy. You can get it with minimum documentation with a quick process. Banks need some necessary documents of a borrower like identity proof, address proof, income proof, etc.
  3. Loan Amount: The amount can be ranging from Rs. 50,000 to Rs. 20 lakh.
  4. 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.
  5. 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.
  6. 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.
  7. 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.

About Thanjavur

Thanjavur is a city in the Thanjavur District of Tamil Nadu. It was previously known as Tanjore and served as the administrative headquarters of Thanjavur District. The name of the city comes from Tanjan, a legendary demon in Hindu mythology. 

REMINDER SERVICES EMI CALCULATOR

PERSONAL LOAN INTEREST RATES

Reminder Services EMI Calculator Personal Loan Interest Rates

 

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