Personal Loan Mysore

Best Banks for Personal Loan in Mysore

Personal Loan in Mysore Features

A personal loan is the easiest way to overcome your financial crisis. It is a lifesaver. As the name suggests,  Personal Loan may be opted by an individual due to an urgent requirement of cash, for example, any medical issue, education purpose, or wedding, or to fulfil any of your other personal needs.

A personal loan is an unsecured loan that needs no collateral documents, but all you need to do is submit your personal documents to the Bank. Availing of a loan to make your dream fulfil is never a bad idea. A personal Loan is designed to address various money needs easily and conveniently to meet your requirement. A personal loan is an unsecured loan, which means its interest rates are higher than secured loans. The higher your credit score/ CIBIL score, the lower the price you may get.

Personal Loan in Mysore Interest Rates

To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates

Documents Required for Personal Loan in Mysore

Salaried Customers:

1. Identity Proof:  An identity proof can be an Aadhar card, PAN card, Driving license, voter ID card, or passport
2. Residence proof: Your Aadhar card, PAN card, Ration card, voter ID card, driving license, or passport can be considered proof of residence. In addition to this, if you are living on rent, then the rent agreement or water/electricity bills for the last three months can be considered.
3. Income proof for the salaried applicant: 6 months of bank statements and six months of salary slips.
4. 2 recent passport size photographs of the applicant

*NOTE: In the case of rented apartments, a rent agreement needs to be attached.

Self-Employed Customers:

1. All financials are required (Balance Sheet, P&L Statement as well as ITR files)
2. Identity Proof:  An identity proof can be an Aadhar card, PAN card, Driving license, voter ID card, or passport
3. Residence proof: Your Aadhar card, PAN card, Ration card, voter ID card, driving license, or passport can be considered proof of residence. In addition to this, if you are living on rent, then the rent agreement or water/electricity bills for the last three months can be considered.
4. Income proof for the self-employed applicant: latest ITR documents and audited financial papers of business.
5. Two passport-sized photographs

Personal Loan in Mysore Eligibility Criteria

The eligibility criteria for both Salaried and Self-Employed are different:

Salaried Applicants

1. Firstly, your age should be in between 21 years to 60 years.
2. Also, your salary has to come to a bank account.
3. Moreover, when availing of this loan, your credit score needs to be above 750.
4. Furthermore, you must be working with your current employer for at least one year.
5. In addition to this, the salaried applicant must have one year of working experience.

Self-Employed Applicants

1. The minimum age requirement for an independent person should be 25 years.
2. The applicants applying for the personal loan should file ITR for the last three years.
3. If the applicants are the businessman, then the business should be running from the past three years.
4. The credit score of the individual applicants should be good .there should not be any debt or dues left.
5. The annual income of the applicants should be a minimum of Rs 2.5 lakh.
6. The whole documentation process of the personal loan is the applicants have to submit his financial and his bank statement of the previous three months.

To know more about eligibility, click on Personal Loan Eligibility

How to apply for a Personal Loan in Mysore?

1. Visit www.dialabank.com.
2. Now, fill in your contact number along with your necessary details.
3. Personal Loan Mysore is essential that you provide the contact details that you carry with you.
4. DialaBank gets you a high loan to value ratio on your credit.
5. Also, our RM is specially trained to provide answers to each of your queries.
6.  We will look for the best deal for you which you can easily avail of near your location without wasting any time.
7. Feel free to give us a call anytime you need; we are always there to assist you.
8. You don’t need to pay us a thing. Yes, you read that correct our service is free of cost we don’t charge you anything.

Processing Fee / Prepayment Charges on Personal Loan in Mysore

Every Bank and NBFC charges a fee for processing your Personal Loan application. These charges vary from 1% of the sanctioned loan amount.

If you wish to foreclose your loan before the agreed loan tenure, every lending institution charges you a penal prepayment fee. In most cases, you cannot close your loan before 12 months. Post that, the charges vary depending on how many years the loan has been done. These charges vary from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan.

Personal Loan EMI Calculator Mysore

Equated Monthly Installments, also known as EMI, are the monthly fixed charges you pay to the bank as monthly repayment for the loan amount borrowed.  Based on your profile, the interest rate on your loan is determined. Your EMI is calculated basis the Interest Rate the bank charges you, the amount of loan you have to take, and the period you enjoy the loan.

Get to know more about calculating EMI: Personal Loan EMI Calculator

CIBIL Score required for Personal Loan Mysore

Every lending institution has its own criteria for the minimum CIBIL score required for processing a Personal Loan application Mysore. However, most institutions require a minimum score of 750 to process your loan application.

The institutions look at the overall score and the detailed behaviour on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Any delayed payments for previous loans can act as a barrier to your availing of a fresh loan.

Personal Loan Mysore Agents/Broker

Dialabank is the leading agent for availing Personal Loan in Mysore. You can apply online at Dialabank or give a call at 9878981166

Dialabank helps you find the best option for Banks and NBFCs by providing you with a detailed market comparison of different banks to make the right choice. Visit our website www.dialabank.com and fill a simple form with your personal and employment details. Our customer relationship managers will soon get in touch with you.

Personal Loan Mysore Contact Number

 Call 9878981166 and get instant help and approval for a Personal Loan in Mysore.

Pre Calculated EMI Table for Personal Loan Mysore

About Mysore

Mysore is the second-largest city of Karnataka which lies at a distance of 130 km from the state capital. Mysore is well known for its famous silk sarees and sandalwood oil. It is a city of palaces, gardens, shady avenues, and holy temples and is famous for its Dussehra celebrations when various tourists visit this place every year.