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Personal Loan

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Central Bank of India Personal Loan

Personal Loan is the loan scheme that is offered by Central Bank of India to cater to the need of fulfilling a personal need like wedding expenses, buying two wheeler and many more things. They provide loans to corporate and noncorporate, LIC agents and the teachers.

What is a Personal Loan

A personal loan helps us to fight with the financial problem or sometimes we can use this amount of loan for good deeds too. It doesn’t matter while getting a personal loan that how much property do you have or does you have any guarantor or not? It completely based on your source of income and your credit score.

Uses

1.     Most people get a personal loan to fight with the financial problems. Because this is the best way to get a financial help. People prefer to get a personal loan rather than asking for money from relatives and the friends.

2.     After that wedding is the most common reason to get a personal loan. Sometimes people get a personal loan if they have a shortage of money for their wedding and sometimes when they want to make it more special and beautiful.

3.     Education is the most important part of our life nowadays, but sometimes it may require more money to get a quality education. For this purpose too people get an education loan.

4.     In the rural areas, the farmers get a personal loan for the agricultural activities.

5.     Besides all this, some people get a personal loan to renovate their home.

6.     Furthermore, people get a personal loan to pay their credit card bills or sometimes medical bills. In the case of a medical emergency too personal loan is very helpful.

What if you don’t pay Your Personal Loan?

If you won’t pay your personal loan on time your CIBIL score get affected negatively and your credit history gets spoiled, and you won’t be able to get a personal loan in the future. So it is advised to deal carefully with your personal loan.

Eligibility

Are you eligible for getting a Personal Loan from any financial institution? There are some Eligibility Criteria regulated by Banks to get a loan. You must be eligible if you want finance to meet your requirement. Check your Eligibility in 1 minute. Apply Online and get Dialabank for you.

Eligibility Criteria for Personal Loan

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

  1. First of all the age of the applicant should be more than 21 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

  1. If the applicant is self-employed than his/her age should be 25 years at least.
  2. He/she should be filing ITR for last three years at least.
  3. His/her CIBIL score should be good.

 

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-3

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

 

Special Note: Bank does not provide Personal Loan to poor credit holders. However; one can fulfill their financial requirement with a Gold Loan easily.

Features and Benefits

A personal loan can be taken for different needs. If you need finance, you can borrow from financial institutions. There are different rules and criteria to get a personal loan. One must check its eligibility for getting loan amount. 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:

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 a 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 verification.

Multipurpose finance

 A 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 an 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 easy. You can get the loan amount in your account without stepping out of your place.

Interest Rates

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. 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 - Updated Sunday 7 Oct 2018

Banks

CAT A Company

CAT B Company

CAT C & CAT D Company

Pre-Payment Charges

Processing Fees

HDFC Bank

13.00%- Salary Rs. 70000 or above

14.00%- Salary Rs. 70000 or above

16% and above

1.00 % to 4.00 %

2.00% to 2.5%

13.25%- Salary Between 50000 to & 70000

14.25%- Salary Between 50000 to & 70000

14.00%- Salary Between 30000 to & 50000

14.50% - Salary Between 30000 to & 50000

14.00%- Salary Below 30000

14.75%- Salary Below 30000

ICICI Bank

13.00% to 14.00%

13.50% to 15.00%

14.00% to 15.00%

2.00% to 5.00%

2.00%

Fullerton India

17.25% to 22.00%

17.25% to 25.00%

18.00% to 32.00%

NA

2.00%

Bajaj Finserv

13.99% - 16.75%

13.99% - 16.75%

13.99% - 16.75%

N.A.

2.00% - 3.00%

Axis Bank

16.00% to 18.00%

18.00% to 20.00%

18.50% to 22.00%

Special Offers

2.00%

Citibank

16.00%- Salary Up to 30000

17.00%- Salary Up to 30000

17.00%- Salary Up to 30000

3.00%

1.00% to 2.00%

15.00%- Salary above 30000

16.00%- Salary above 30000

16.00%- Salary above 30000

N.A.

N.A.

Standard Chartered Bank

16.00% to 17.00%

17.25% to 18.50%

18.25% to 19.00%

N.A.

N.A.

United Bank Of India

16.00% to 18.00%

16.00% to 18.00%

16.00% to 18.00%

N.A.

N.A.

State Bank of India and Group

16.75% to 21.00% with Guarantor 

16.75% to 21.00 % with Guarantor 

16.75% to 21.00% with Guarantor 

4.00%

2.00% to 3.00%

Kotak Bank

18.00% to 19.00%

18.00% to 19.00%

18.00% to 19.00%

4.00%

2.00%

Corporation Bank

14.50% to 17.00%

14.50% to 17.00%

14.50% to 17.00%

N.A.

1.5% to 5.00%

Andhra Bank

15.75% to 18.75%

15.75% to 18.75%

15.75% to 18.75%

N.A.

2.00% - 3.00%

Bank of Baroda

15.00% to 17.00%

15.00% to 17.00%

15.00% to 17.00%

N.A.

2.00%

ING Vysya

15.00%- Salary Rs. 70000 or above

15.50% to 16.50% Salary Rs. 70000 or above

16.5% to 18.00% Salary Rs. 70000 or above

4.00%

2.00%

Vijaya Bank

16.00% to 18.00%

16.00% to 18.00%

16.00% to 18.00%

N.A.

N.A.

 

 

How to avail the lowest personal loan Interest Rates?

Following are the features of 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 a 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 hiplines, 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.

Apply now to get Best Personal Loan Interest Rates.

 

Leading Personal Loan Providers (Click to Apply)

Citibank

SBI

Axis Bank

Other Banks

 

 

What are the benefits of Central Bank of India Personal Loan?

1.     The loan tenure for corporate is 1 year to 3 years.

2.     The Loan tenure is 4 years for LIC agents, teachers and non-corporate.

3.     Corporate people can avail a loan up to Rs 10 lakhs.

4.     Noncorporate can avail Rs 15 lakhs.

5.     LIC agents and teachers can avail up to Rs 20 lakhs.

 

Why choose Dialabank for Personal Loan?

1.     Call us on our number 60011600 along with your city code to get the Instant Financial Help.

2.     You can request a Callback on our site and get an instant call from our trained relationship manager.

3.     You can Compare and Buy on our website to choose the right financial product.

4.     All the assistance will be free.

5.     There are no trust issues because Dialabank is India’s first helpline company.

 

Other Leading Personal Loan Providers (Click to Apply)

1.     HDFC Personal Loan

2.     ICICI Bank Personal Loan

3.     Axis Bank Personal Loan

4.     PNB Personal Loan

5.     SBI Personal Loan

6.     Citibank Personal Loan

7.     Bandhan Bank Personal Loan

8.     Bank of Baroda Personal Loan

9.     Fullerton India Personal Loan

10.   Personal Loan from Other Banks


Personal Loan EMI Calculator Personal Loan Interest Rates
Personal Loan EMI Calculator Personal Loan Interest Rates

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