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Personal Loan is the loaning facility in which banks provide a loan to customers without taking in any collateral against the principal amount of credit. Thus, this loan is said to be an unsecured way of taking a loan amount from the bank. You can use this loan for providing funds for the expenditure of the wedding or you can use its principal amount to provide required funds for your exotic vacation. You can use this loan for any personal purpose bank won’t be asking you to specify the reason for taking the credit. Therefore, it is one of the most versatile and fastest loaning schemes of all time.
About Personal Loan
Are you thinking about taking an off from work and start your own business but don’t have enough funds? Is your company going through some financially rough time? Are you trying to get a loan from the bank but don’t want to pledge any collateral? Then we are here to help you assist. With a personal loan, you can full-fill all your individual financial needs without having to worry about the high-interest rate amount.
Eligibility for taking Personal Loan Kumbakonam
For the salaried applicant:
- Bank requires the minim age of the salaried applicant to be 21 years and the maximum period to avail this loan is 61 years.
- Also, the salaried applicant must have an account in a bank, and his/her salary has to come to that bank account.
- The most important thing that plays an essential factor is the CIBIL score. 750 is the minimum CIBIL score bank requires from the salaried applicant.
- Furthermore, the applicant must be working with the current employer for about one year.
- In addition to this, the applicant should have one year of working experience.
For the self-employed applicant:
- Most Importantly, your CIBIL needs to be above 750 to avail of this loan.
- Firstly, for the self-employed applicant 21 to 71 years is the age criteria.
- Also, 30 Lac is the required annual turnover of the applicant’s business.
- One more thing that self-employed applicant must keep in mind is that ITR should be above 2.5Lacs.
- Self-employed applicant must have a bank account.
- Moreover, the applicant’s business should be providing its services for about three years.
Interest Rate on Personal Loan Kumbakonam
A personal loan is an unsecured way of taking credit from the bank, so bank closely evaluates all the documents that applicant provides and his/her other details like where he/she lives how much they earn monthly, do they have other people to take care Etc. After evaluation bank decides loan amount along with its interest rate. 10.70% is the minimum annual interest rate you can expect on a personal loan.
Documentation required for taking Personal Loan
- Identity Proof:- Driving License/ Aadhar Card / PAN Card/ Voter ID Card/ Passport. The applicant can use any one of the above documents.
- Income proof for the self-employed applicant:- ITR papers of last years.
- Income proof for the salaried applicant: 6 months of income receipt along with your banking statement of the past six months.
- Residential Proof:- Aadhar Card / PAN Card/ Voter ID Card/ Passport/ Driving License/Ration Card/Utility bills of last three months on the name of applicant/ Rent Agreement.
How to apply for Personal Loan Kumbakonam
- Firstly, you have to go to our website.
- Once you reach there, you have to fill the form shown on the screen.
- You need to provide your necessary details and your contact number.
- It is essential that you provide your correct contact information.
- Now after completing these steps your work is done now all you need to do is sit back and relax.
- One of our RM will reach you via phone call.
- Our RM will guide you through the best loan deals and offers which you can get near your location.
- Also, we make sure you get a high loan to value ratio on your credit.
- Finally, we do all the heavy work for you at zero cost.
- Yes, don’t get shocked there are no hidden charges in our services. Our services are free, and the customer does not need to pay us.
Why to apply for Personal Loan Kumbakonam
- There is no need to pledge any valuable commodity as collateral to borrow money.
- It does not require any cosigner or guarantor.
- The Loan is offered to salaried and self-employed people.
- It allows the person to spend the loan amount for any purpose.
Kumbakonam is a town in the Thanjavur district of Tamil Nadu. The town is bounded by two rivers, the Kaveri River to the north and Arasalar River to the south. It is known as the "temple town" due to the prevalence of a number of temples here and is noted for its Mahamaham festival which attracts people from all over the globe.
Other Leading Personal Finance Providers in Kumbakonam (Click to Apply)
- HDFC Personal Loan
- ICICI Bank Personal Loan
- Axis Bank Personal Loan
- SBI Personal Loan
- Fullerton India Personal Loan
- PNB Personal Loan
- Citibank Personal Loan
- Bandhan Bank Personal Loan
- Bank of Baroda Personal Loan
- Personal Loan from Other Banks
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