Apply for Personal Loan: for Salaried, Self Employed and Professionals

Dialabank.com helps you find the most suitable offer for Personal Loan

1. Personalised Service: Our trained Relationship Managers will understand your requirements and your profile and help you find the most suitable Personal Loan offer.

2.  Rate Comparison : We help you understand the details of all costs involved in taking a Loan and help you find the Cheapest Offer.

3.  Research : Benefit from our detailed research on all the products from the leading Loan players in the market and make the right choice.

4.  Zero Charges : Dialabank offers personalised service to its customers at zero fees. Use our services to find the right Personal Loan deal at no extra cost.

5. Unbiased and Transparent Search : Our objective is to simplify your Loan search and we provide information in an unbiased and transparent manner

 Find the right Loan Offer with help from www.dialabank.com

1. Online : Fill in your Loan requirements in the online application form and our trained Relationship Manager will contact you with the best Loan offer basis your profile.

2. Dial “60011600”and get the personalised service of a trained Relationship Manager who will help you with your Personal Loan requirements

Take benefit of our EMI calculator to check affordability of your Personal Loan EMI

In this modern world needs are rising high so the expenses are also rising at fast rate. It is very difficult for a person to cope up with this unstable climate. Personal loan is the best loan option to handle all expenses easily. Personal loan is an unsecured debt which can be availed without pledging any valuable property to the lender. Personal loan is a multipurpose loan that can be utilized for fulfilling many purposes. These purposes could be debt consolidation, paying medical bills, taxes and many more. Personal finance is an instant finance which a person can avail within 48-72 hours with minimal documentation required.

Types of Personal Loan

Personal Loan can be categorized in two ways:

1.      Unsecured loan

2.      Secured loan

Unsecured Loan

In unsecured loan, you do not need to pledge any property as collateral to the lender. Lenders charge high interest rates while granting unsecured loan to cover for any risk occurrence. These loans are much expensive and flexible as compared to other secured loans like home loan and car loan. Unsecured loan can be paid within tenure period of 12-60 months.

Secured loan

In secured loan, you need to pledge a property as security to the lender. This property could be gold, car, home or plot. If you fail to pay loan on time, lender will take possession over the property provided to recover the loss occurred. These loans are available at low interest rates as no risk is involved.

Bad credit personal loan

Bad credit personal loan is the best option for the person when an individual is stuck in a bad credit situation. This loan is specially designed for people with spotted credit history. Personal loan helps the person to improve their credit history and overcome the situation of financial crisis. Banks provide bad credit personal loan at the higher Personal Loan Interest Rates as compared to a person having a good credit score.

Documents Required for Personal Loan

Salaried Individual

1. Applicant should be the citizen of India.
2. Latest 2 month salary slips.
3. Last 3 months bank statements.
4. ID  proof: Passport/Driving license /Photo credit card/Voter's ID/PAN card.(Any one of these)
5. Residence proof: Passport copy/Telephone or Electricity bill/ Ration Card/Bank statement. (Any One of These)
6. Telephone/mobile mandatory at home.
7. 2 Passport size photographs.

Self employed Individual

1. 2 Passport size photographs.
2. IT returns for last 2 years.
3. Last 6 months bank statement.
4. Balance sheet and P&L account for last 2 years certified by CA.
5. Identity proof: Passport/Driving license /Photo credit card/Voter's ID/PAN card.(Any one of these)
6. Residence proof: Passport copy/Telephone or Electricity bill/ Ration Card/Bank statement. (Any one of these)

Eligibility Criteria for Personal Loan

Salaried Individual

1. Minimum age of the borrower : 21 years
2. Maximum age of the borrower : 60 years
3. Minimum annual income: Rs.1,20,000
4. Net monthly income: Rs. 20,000/- & above
5. Total experience in employment: 3 years and above
6. Current experience: 6 months and above

 

Self employed Individual

1. Minimum age of the applicant: 25 years
2. Maximum age of the applicant: 65 years
3. Minimum annual income: Rs.1,20,000
4. Total experience in employment: 3 years and above.

Note: Person getting salary by CASH will not be eligible for any Loan.

Loan Tenure

Loan Tenure is the period within which borrower has to pay off the loan. Loans can be paid off from 1 to 7 years. There is a rule of thumb that the longer the tenure period higher will be the loan eligibility and vice versa. 

Personal Loan Interest Rates - Updated 30 Jan, 2013.

Charges Applicable

Loan processing charges, service charges, bank charges are the several ways of describing the fees which the lender charges for disbursing and processing of loan. It is deducted from the loan amount and restricted to 1% to 3% of the loan amount. It is a onetime fee. 

Bank charges prepayment fee from those borrowers that pay the loan EMIs before the tenure period. It is between 2 to 5% of the outstanding loan amount.