Jalandhar is a city in Punjab. It was formerly the capital of Punjab state. Jalandhar is the largest developed city in Punjab. People have no time to visit every bank and to know about loans criteria. Dialabank provides a platform for sharing all details of different banks in a single click. This is the best and smartest way to get rid of financial worries. This loan seems to be attractive as you need not deposit any assets to the lender.

What is a Personal Loan Jalandhar?

In this modern world needs are rising high so the expenses are also rising at a fast rate. It is very difficult for a person to cope up with this unstable climate. A personal loan is the best loan option to handle all expenses easily. A personal loan is an unsecured debt which can be availed without pledging any valuable property to the lender. A 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.

Important features of the personal loan you need to know before applying:

  1. The Loan amount depends upon the income and repayment capability of the person.
  2. It is a multi-purpose offer that can be used for almost all financial problems of life.
  3. No need to put any property or asset as Collateral to the lender.
  4. No cosigner needed.
  5. There are some criteria which are required to follow like salary, residence, CIBIL  score etc. There is no need of depositing any security or mortgage. Every bank has their own loan criteria. Some go for high salary customers and some mainly focus on the previous repayment capabilities.

Why should one choose Personal Loan Jalandhar?

  1. The Loan amount depends upon the income and repayment capability of the person.
  2. It is a multi-purpose offer that can be used for almost all financial problems of life.
  3. No need to put any property or asset as Collateral to the lender.
  4. No cosigner needed.

Eligibility Criteria for Personal Loan Jalandhar

Salaried Individual

  1. Minimum age of the borrower: 21 years
  2. Maximum age of the borrower: 60 years
  3. Minimum annual income: Rs.2,16,000
  4. Net monthly income: Rs. 18,000/- & above
  5. Total experience in employment: 3 years and above
  6. Current experience: 6 months and above

Self-employed Individual

Minimum age: 25 years.

Maximum age: 65 years.

Should have ITR records of past 3 years

ITR should be of 2.5 lacs per annum at least.

Minimum annual turnover: Rs. 20 lakh.

CIBIL score should be more than 600.

Experience in current business: 3 years

Total experience in business: 5 years.

Personal Loan Interest Rates in Jalandhar:

SALARIED INDIVIDUALS

Name Of The Bank

CAT A

CAT B

Others

Apply For

HDFC

14.5%- 19%

14.5%-19%

21%

HDFC Personal Loan

SBI

14.75%

14.75%-20%

14.75%-18%

SBI Personal Loan

AXIS Bank

15%

17%

19%-23%

AXIS bank Personal Loan

Bank Of Baroda

15.50%

16%

N.A.

Bank Of Baroda Personal Loan

Citibank

16%-17%

17%-18%

18%-19%

Citibank Personal Loan

Fullerton India

17%

20%-22%

20%-28%

Fullerton Personal Loan

 

 

Some factors you should know which affect Personal Loan interest rates:

Flexible loan tenures:  The major benefit of flexible loan tenure is that we can change the interest rate according to our suitability.

CIBIL score: There are chances that loan seekers may get a 0.25% reduction in interest rates if their CIBIL score is more than 800.

Reputed firms: If the borrowers work at reputed firms then there are chances that they may obtain a lower interest rate. The reason behind this is that lending institutions perceive such individuals to have a stable career thus making them more likely to make repayments on time.

A good relationship with a bank:  It affects very much to interest rates. Banks provide lower interest rates to loyal customers with whom they have a good relationship.

High salary: Individuals with higher income have most likely chances of repaying the loan. A stable income makes more chances of sanctioning of the loan. Bankers usually reject loan applicants of those persons who do not have a consistent flow of income.

Documentation:

Salaried Individual

Self Employed People

Last 2 month salary slips

Last 2 years Balance Sheet

Last 2 year Form 16

Last 2 Years ITR

Latest 6-month bank statements

Photocopy of Pan Card

Residence & Address Proof

2 passport size photographs

 

List of documents (salaried)

ID proofs- PAN card, Aadhar card, Passport, Driving License, Employee ID

Address proofs mention- Bank passbook, Ration card, any Utility bill (telephone, electricity, water, gas) of less than 2 months old, Letter from a recognized public authority verifying the customer’s residence, LIC policy or receipt.

Proof of ownership- Electricity or water bill, property papers,  maintenance bill

Current job proof:

Current employment certificate or appointment letter(in case of more than 2 years).

List of documents

(Self-employment/business)

Proof of business existence-Sales deed/ agreement, Saral copy of 3 years old, tax registration proof, Company registration license

Proof of Income- Income tax returns of the last 2 years along with computation of income duly attested by a CA(chartered accountant), audited balance sheet and Profit & Loss accounts, tax audit report if applicable, Bank statement: Latest 1 year bank statement (both savings and current), Investment proof: fixed deposit, fixed assets, shares, etc.

The need for professional Degree Certificate (in the case of professionals)

If any existing loan in the past- Need to submit sanction letter, payment track record.

Why your decision of choosing Dialabank is the right decision:

  1. No extra charges are applicable.
  2. Ready to help 24/7.
  3. Quick pick-up of documents.
  4. Approval in no time.
  5. Assistance from experts.

How to apply:

  1. Visit www.dialabank.com
  2. Go to the loan section and select a personal loan link.
  3. By clicking this link, you will be directed to all details of the personal loan where you can select your preferred city.

Other Cities near Jalandhar where Personal Loan is Available

Personal Loan Amritsar Personal Loan Ludhiana
Personal Loan Pathankot Personal Loan Bathinda
Personal Loan Patiala Personal Loan Hoshiarpur