About Gramin Bank of Aryavart Personal Loan
A personal loan is a loan without security and paid with instalment for the life of the loan, which may be till five years of the loan being issued. Personal Loans may have high interest rates, but the tenure is quite long to pay the instalments making it possible to complete repaying all the financiers. A personal loan is a kind of instalment where you borrow a fixed amount of money and pay it back with interest in monthly payments over one year to 7 years. The personal loan provided by Gramin Bank of Aryavart Personal Loan is an unsecured type of loan and needs minimum documentation.
Benefits of Personal Loan:
- A loan can be taken up to Rs. 25 lakh or, for more, the borrower is likely to take a loan that is 30 times the monthly income. However, this differs from lender to lender that gives personal loan assistance.
- Large tenure payment up to 5-7 years. Also, the borrower can choose the loan period duration.
- Quick preparing of loans: Rapid disbursal of credits can be helpful in this irregular lifestyle. In addition, a Personal loan might be helpful for medical or any other emergencies.
- No collateral is required.
- Documentation like KYC documents such as driving license, Aadhaar card, and voter ID card is needed, Last three months’ salary slips (for salaried) or income proof (for self-employed), Last six months’ bank account statements from your bank of salary account (for salaried) or current account (for self-employed) should have a remark.
Gramin Bank of Aryavart Personal Loan Eligibility
The eligibility criterion for a personal loan for Gramin Bank of Aryavart are:
Particulars | Salaried | Self-Employed |
Age | 21 – 60 years | 21 – 65 years |
Minimum Income | Rs.15,000* | Rs.5 Lakh p.a. |
Co-applicant | Not mandatory | Not mandatory |
Loan Tenure | 12 – 60 months | 12 – 60 months |
Maximum Loan Amount | Rs.40 Lakh | Rs.40 Lakh |
Employment Type | Employees of private limited companies and public sector undertakings |
Self-employed individuals
|
Employment/Business Continuity | At least 2 years; minimum 1 year with current employer |
4 years Post Qualification experience for Doctors/ Chartered Accountants.
5 years Post Qualification experience for Company Secretary / Architect. |
CIBIL Score | 750 and above | 750 and above |
Residential Status |
Resident Indian staying in own house or a rented house
|
*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000
*Note: The eligibility criteria vary from lender to lender.
Check Personal Loan Eligibility with Top Lenders in 2021
Bank | Age Limit | Minimum Work Experience |
Minimum Income (Per Month)
|
SBI | Up to 76 years | NA** | Rs.15,000 |
HDFC | 21 to 60 years | 2 years | Rs. 20,000 |
Private | 23 to 58 years | 2 to 5 years | Rs.17,500 |
Axis | 21 to 60 years | NA** | Rs.15,000 |
Kotak Mahindra | 22 to 55 years | 1 year | Rs.25,000 |
Tata Capital | 21 to 58 years | 1 year | Rs.15,000 |
IndusInd | 21 to 60 years | 2 to 5 years | Rs.25,000 |
Ujjivan Small Finance | 22 to 58 years | NA** |
Above the minimum wage limit
|
India Infoline Finance Limited | 25 to 60 years | 6 months to 2 years | Rs.35,000 |
HDBFS | 21 to 65 years | 1 year to 3 years |
Rs.15,000 for salaried
Rs.1 lakh p.a. for self-employed |
Indian Overseas Bank | Up to 58 years | NA* | Rs.5,000 |
IDFC First Bank | 23 to 68 years | 3 years | NA* |
Federal Bank | 21 – 55 Years | 3 years | Rs.25,000 |
Punjab National Bank | 21 – 58 years | 2 years for doctors | Rs.15,000 |
Andhra Bank | 21 – 55 years | NA** | NA* |
Canara Bank | NA** | NA** |
Salaried: Rs.6,000 & above
Self-employed – Rs. 1.5 lakh |
IDBI Bank | Up to 75 years for Pensioners | NA** | Rs.1.5 lakh p.a. |
Fullerton India | 21 to 55 years | 1 to 2 years | Rs.15,000 |
RBL Bank | 25 to 60 years | 1 to 3 years | Rs.25,000 |
Bank of Baroda | 21 to 60 years | 1 year to 2 years |
60% of gross monthly income
|
Deutsche Bank | 25 to 60 years | NA** | Rs.25,000 |
Karnataka Bank | NA** | 3 years | NA* |
United Bank of India | up to 75 Years | 2 years | NA* |
UCO Bank | 21 to 65 years | 1 year to 5 years | Rs.20,000 |
*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions
Learn More about Personal Loan: Click Here
Documents Required for Gramin Bank of Aryavart Personal Loan
The documents required for Gramin Bank of Aryavart include:
List of Documents Required for Salaried Applicants
Salaried individuals must submit the following documents in addition to a completed personal loan application form:
Photo Identity Proof (Any one) | Passport PAN Card Voter’s ID Aadhar Card Driving License |
Address Proof (Any one) |
Passport
Utility Bill (telephone, electricity, water, gas) – less than 2 months old Aadhaar Card Driving License Ration Card |
Income Proof |
Salary slips (Last 3 months)
Bank statements for the last 3 to 6 months (showing salary credit) |
Tax Paid (Any one |
IT returns (for 2 years)
Form 16 |
Residence Ownership Proof (Any one) |
Property documents
Maintenance bill Electricity bill |
Proof of Job Continuity (Any one) |
Current employment certificate
Current job appointment letter (if more than 2 years have been spent in the same organisation) Experience certificate (previous employer’s relieving or appointment letter along with job certificate) |
Proof of Investment (if any) |
Fixed assets, fixed deposit, shares, etc.
|
Existing Loans (if any) |
Payment Track Record & Sanction letter
|
Photograph |
One coloured passport size photograph
|
List of Documents Required for Self-employed Applicants
Self-employed personal loan applicants must submit the following documents in addition to a fully completed loan application form:
Photo Identity Proof (Any one) | Passport PAN Card Voter’s ID Aadhaar Card Driving License |
Address Proof (Any one) |
Passport
Aadhaar Card Driving License Utility Bill (telephone, water, electricity, gas) – less than 2 months old Ration Card |
Proof of Residence Ownership (Any one) |
Property documents
Maintenance bill Electricity bill |
Proof of Office Address and Ownership (Any one) |
Maintenance bill
Property documents Electricity bill |
Proof of Business Existence (Any one) |
Copy of GST registration
Company registration license Shop establishment proof |
Income Proof |
Last 2 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable |
Bank statement |
Savings/current account bank statement/ bank passbook for the past one year
|
Proof of Investment (in case any) |
Investments such as fixed deposit, fixed assets, shares, etc.
|
Existing Loans (in case any) |
Payment Track Record and sanction letter
|
Professional Degree Certificate |
In case of professionals
|
Photograph |
One coloured passport size photograph
|
List of Documents Required for NRI Applicants
When applying for a personal loan, NRI candidates are typically required to submit the following documents:
Identity Proof | Copy of the passport Copy of the visa |
Employment Proof | Letter of Appointment Job contract Labour/ Identity card (if applicable) Official email ID or the HR’s email ID |
Income Proof | Last 6 months’ bank statements Last 6 months’ salary slips or salary certificate |
Photograph | Passport size photographs |
List of Documents Required for Pensioners
When applying for a personal loan, a pensioner must submit the following documents:
Identity/Age Proof (Any one) |
Ration card
Passport PAN card Aadhar card Voter ID card Driving licence Birth certificate School leaving certificate |
Address Proof (Any one) | Passport Aadhaar card Utility bills Ration card Driving licence |
Income Proof (Any one) |
Last 6 months’ bank statements/salary slips
Bank passbook Form 16 Copy of pension payment order Income tax returns |
Photographs |
Passport size photographs
|
Know More About: Personal Loan Eligibility Criteria
Gramin Bank of Aryavart Personal Loan Approval Process
- When the bank accepts the personal loan application, the bank will confirm the information you gave in the application form by visiting your workplace and home. Details such as salary deposits, bank statements, and any other activity such as deduction of EMI from your account will be noted.
- Then comes the verification stage, where the data provided by you to the bank is confirmed. The KYC process is achieved here. For example, the bank officials may contact you for the bank applications and documents required. The bank here cross verifies records provided and inquires in the workplace or visits your home to dodge the chances of fraud.
- Here’s when the credit score of 750 or more is valued, and your loan is immediately approved. Next, the bank reviews your credit score and looks at the transition history so far. Then, IT returns are inspected for the last round, that is, the approval of the loan.
- The loan amount for the personal loan and tenure will be determined by the bank based on the following: annual salary, credit score maintained, age of the individual, increment in salary and years left in service.
- Once your loan is approved, pay the processing expense, i.e. processing fees is charged. The money is now ready to be used.
Steps to Apply for Gramin Bank of Aryavart Personal Loan
- Visit the approved website of Dialabank or reach us on 9878981166, or even mail us at booking@dialabank.com.
- Fill in the data demanded by Dialabank to acquire the loan and submit the form to the lender.
- With this, Dialabank would inform you of the amount of money you are qualified for a loan.
- Lastly, Dialabank will process your records and review them, and if the bank approves the loan, the funds will be immediately transferred into the provided bank account.
Gramin Bank of Aryavart Personal Loan Approval Process FAQs
✅ What is the processing fees for a Personal Loan?
Loan processing charges: Charges you incur on a Personal Loan. Gramin Bank of Aryavart has to bear some organisational expenses while processing and approving the loan. This is usually a tiny amount, which differs from bank to bank and can cost about 0.5% to 2.50% of the total amount of the loan applied for.
✅ How can I apply for Gramin Bank of Aryavart Personal Loan?
Through both offline and online, an individual can apply for a personal loan. For offline, you can visit the nearest Gramin Bank of Aryavart for Personal Loan and online, visit DialaBank for more data.
✅ How can I contact Gramin Bank of Aryavart?
Phone: +91-7388800794 Email: ChairmanSecretariat.gba@gba-rrb.com