Each person has desires and aspirations that remain unfulfilled due to limited income. A Personal Loan is a type of loan that can be used to meet all requirements without providing security. The loan does not require any asset to pledge as security with the lender. It is also known as the most unsecured type of loan as a bank doesn’t require any for collateral.
Why Personal Loan Patna?
- There is no need to provide a cosigner to avail this loan.
- The Loan amount can be used for almost all financial problems of life.
- There is no need to put any property or asset as collateral to the lender.
- There is no process involved to verify the collateral.
Personal Loan Patna Eligibility
Not every person can apply for a personal loan. There are some eligibility criteria on the basis of which the bank provides a personal loan to the applicant. There are two categories of applicants:
There are different eligibility criteria for both applicants.
- Firstly the age of applicant should be minimum 21 years and maximum up to 60 years.
- Secondly, if the applicant is residing in a metropolitan city then they should have a minimum income of Rs 18,000. And if the applicant is from the non-metropolitan city then they should have the minimum income of Rs 12,000.
- The applicant should have the work experience of the last three years and the salary should come in their account only.
- If a applicant is applying for the personal loan then he must have a good credit history.
- The documentation process is easy they just have to submit their bank statement of the last three months and the salary slip of the last six months.
- If a applicant is self-employed than the age of the applicant should be minimum 25 years and maximum up to 65 years.
- The applicant should file ITR for the last three years.
- The credit score of the applicant should be good and no debt should be left due.
- The ITR which the applicant files should be of Rs 2.5 lakhs per annum at least.
- And if the applicant is having a business than their business should be running from the last three years.
Personal Loan Patna Documents
- When the applicant applies for the personal loan after that, they have to submit some of the documents. These are:
- The applicant has to submit their identity proof which includes Aadhaar Card, Passport, Voter Card, Driving License.
- Two colored photographs
- They have to submit residence proof which includes updated Passbook, Aadhaar Card, Passport, Voter Card, Ration 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.
- They have 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.
Personal Loan Patna 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 Patna Tenure
The tenure of the personal loan is from 1 year to 5 years.
Personal Loan Patna Features
- The Loan amount depends upon the income and repayment capability of the person.
- It is a multi-purpose offer that can be used for almost all financial problems of life.
- No need to put any property or asset as Collateral to the lender.
- No cosigner needed.
Patna is a city, located on the southern bank of the Ganges in the Indian state of Bihar. It is the capital and the most populous city of Bihar. It is also a holy city for Sikhs as the last Sikh Guru, Guru Gobind Singh, was born here.