The bank is established by the union of four RRB Sri Saraswathi Grameena Bank, Sri Satavahana Grameena Bank, Karimnagar, Sri Rama Grameena Bank, and Golconda Grameena Bank. The state bank of Hyderabad sponsors Telangana grama Bank. After the collaboration with the other four banks, the sponsorship has transferred to state bank of India. The bank is providing its financial services in more than five districts.
About Telangana Bank Personal Loan
Are you looking for funds to increase your workforce? Are you thinking of buying a new machine to increase your productivity? Thinking about taking a long break from work and spend some time with family but don’t want to drain your saving? Then you end up on the right spot. Telangana Bank Personal Loan is the loaning scheme which helps you get the funds in a short amount of time at an affordable rate of interest. For this loan, the bank does not ask the borrower to provide collateral as this loan is an unsecured way of giving credit to a customer. In addition to this, the principal amount of personal loan is dependent on the income eligibility and other personal factors of the individual. So everyone gets a different interest rate on the same loan amount.
How does Telangana Bank Personal Loan work?
- Firstly, you need to fill an application for a personal loan
- After you filled your application bank gets it and checks if it meets the basic requirement
- Also, at this point of process bank evaluates your income eligibility and your CIBIL.
- If your application full-fills all the criteria bank offers a loan amount and its rate of interest.
- Finally, you get your loan amount from the bank, and the disbursal of the loan takes place.
Benefits of taking Telengana Bank personal loan
- Firstly, you need to keep in mind that you will be getting the lowest interest rate by availing this loaning scheme.
- Furthermore, the documentation process is fast, and the bank requires decidedly fewer documents from the applicant.
- As a result, if the application meets the requirements bank takes only about 30 minutes for loan approval.
- You could expect the loan amount from 20 thousand to 40 Lacs.
- Besides, once your loan request gets approval, the disbursal of your loan is done within q48 hours.
- Moreover, both salaried and self-employed applicant can take this loan and can improve their financial conditions.
Eligibility for availing Telangana Bank Personal Loan
For salaried individual
- First, your age must range from 21 to 61 years.
- Also, you must be working with the current employer for at least one year.
- In addition to this, the salary of individual needs to come to a bank.
- Moreover, one of the most important things that you need to keep in mind is the CIBIL or credit score needs to be above 750 to avail this loan.
- Likewise, the minimum monthly salary requirement for this loan is 18,000 Rs.
For self-employed applicant
- First of all, your business needs to be in service for about three years.
- Also, your business must be producing an annual turnover of 30 Lac minimum.
- Furthermore, as a self-employed applicant, your ITR of the last year should be more than 2.5 Lacs.
The rate of interest for Telangana Bank Personal Loan
See with a personal loan you cannot determine the exact price of interest beforehand. It depends on person to person. The minimum amount of interest rate you can get on a personal loan is 10.70%. Also once bank decides your rate of interest rate it never changes from time to time.
Documentation required for Telangana Bank Personal Loan
- Residence Proof: Borrower needs to show the proof of residence if you are living on rent you can show your rental agreement as proof, or you can show one these documents Aadhar card, PAN card, Ration card, voter ID card, driving license,
- Identity Proof: Bank also checks your identity. You need to provide one of the given documents Aadhar cards, PAN card, Driving license, voter ID card or your passport.
- Income Proof for the salaried applicant: You need to provide your six months of bank statement along with your past six months salary slip.
- Income proof for Self-employed: As a self-salaried applicant you must provide your last year ITR and audited financial papers for the verification.
How to avail for Telangana personal loan
It is effortless to apply for a personal loan all you have to do is follow these steps which are written down.
- First, you need to go to our website
- Now, once you are on our site, you have to fill your necessary details along with your phone number.
- Please, it is essential that you provide your correct contact details.
- Now once you filled the form all you need to do is sit back and relax.
- Our relationship managers will call you within 30 minutes and provide you the best of offers and deals that you can get near your location.
- Also, you don’t have to worry about paying us anything as we provide our expertise to you at free of cost.