The need for urgent money can arise at any point in time, and it is a personal loan that helps a person to fulfill all the requirements without the hassle of collateral. The loan is unsecured and does not demand any asset to pledge as collateral. 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 instant finance which a person can avail within 48-72 hours with minimal documentation required.

Why should one opt for personal finance in Belgaum?

  1. Minimal Documentation: It is a loan that is free from endless paperwork.
  2. Simple procedures: It is a simple Loan scheme as there is no process to check the collateral.
  3. Multipurpose loan: The money availed through this loan can be utilized for a variety of personal works.
  4. All purpose loan: It can be used for all almost all purposes according to the requirement.

Click here to know more aboutEMI Calculator

Personal Loan Belgaum Eligibility

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 applicants.

  1. Salaried
  2. Self-employed

There are different criteria for both categories. Let us see both of them one by one.

Salaried Applicant 

  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.

Click here to know more about- Salaried Applicant

Self-employed Applicant

  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.
  4. The ITR should be of Rs. 2.5 Lakhs per annum at least.

Click here to know more - Self-employed Applicant

Personal Loan Belgaum Documents

  1. Identity proof: It includes Aadhaar card, Passport, Voter card, Driving license.
  2. Residence proof: It includes Updated Passbook, Aadhaar card, Passport, Voter card, Driving license, ration card. And if the applicant is living in a rented apartment, then they have to submit their rental agreement, electricity & water bill which has to be in the name of the applicant and the address of the owner.
  3. Two colored photographs
  4. The applicant has to submit their PAN card which is an essential document under the KYC formality.
  5. If the applicant is a salaried one, then they have to submit their salary slip of the last three months and the bank statements of the last six months.
  6. And if the applicant is a self-employed then they have to submit the ITR of the last three years and registration of their business should be done.

Personal Loan Belgaum Interest Rates.

The interest rate may vary from person to person as it depends upon the salary and CIBIL score of the applicant. The interest rate of personal loan starts from 10.75% per year.

Personal Loan Belgaum Tenure

The tenure of the personal loan is from 1 year to 5 years.

More About: Interest Rates on Personal Loan

Personal Loan Belgaum Benefits

  1. No Restriction on Usage Money: Apart from the other loans, the money which you’ll be getting through the personal loan can be utilized anywhere as per your needs. This loan is to deal with the problem arise at home like repairing the house, to pay hospital bills and for the unexpected events.
  2. No collateral: Apart from the other loans, the documentation procedure is simple and no need for collateral.
  3. Flexible Amount of loan: It depends on the customer financial history and credit report according to it you will get the loan.
  4. Flexible Terms: 1 year to 3-year terms will be given, and it depends on banks.
  5. Loan Disbursal: After the approval of your loan the submission of the documents, the process of loan disbursal is very quick.
  6. Sanctioned Loan: If you are eligible your loan gets approved within 24 hours.
  7. No Third party involvement:The loan is directly given to the borrower without the participation of the third party. It is a relationship between the borrower and the lender.
  8. 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.

About Belgaum

Belgaum is the city and the municipal corporation in the Belgaum district of Karnataka. It is the 4th largest city in the Karnataka state after Bangalore, Hubli-Dharwad, and Mysore. The two most common languages spoken here are Kannada and Marathi. It the commercial center and ranks second in terms of overall exports.

Personal Loan Interest Rates: Updated

Bank

Interest Rates

HDFC Bank

10.99% to 18%

ICICI Bank

13.99% to 18%

Fullerton India

17.25% to 32%

Bajaj Finserv

13.99% to 16.75%

Axis Bank

15.50% to 24%

Standard Chartered Bank

15.75% to 22%

Kotak Mahindra Bank

13.75% to 19%

Andhra Bank

13.50% to 22%

Bank of Baroda

13.50% to 19%

Vijaya Bank

13.75% to 22%

Corporation Bank

14.50% to 20%