About J & K Grameen Bank Personal Loan
Are you looking for Personal Loans? Then, you have reached the right place. J & K Grameen Bank provides customers with numerous benefits, offers and deals with low-interest rates. To know more about the procedure of personal loans, visit the official site of Dialabank. Dialabank is a financial service helpline that assists you with details and the complete process of documentation.
J & K Grameen Bank Personal Loan Eligibility
*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000 Click here to know more about - Salaried Applicant *Note: The eligibility criteria vary from lender to lender. *Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions
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
Employment/Business Continuity
At least 2 years; minimum 1 year with current employer
5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score
750 and above
750 and above
Residential Status
Click here to know more about - Self-employed ApplicantCheck Personal Loan Eligibility with Top Lenders in 2021
Bank
Age Limit
Minimum Work Experience
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**
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.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**
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
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
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Documents Required for J & K Grameen Bank Personal Loan
J & K Grameen Bank Personal Loan Approval Process
Once you fill In your loan application and submit it to the lender or bank, there is a certain approval process that needs to be fulfilled:
- The bank will check your salary deposits, bank statements and all financial documents provided by you.
- The verification regarding your identity proofs will be checked by the bank based on your application.
- Then the lender will check your CIBIL for credit score to check creditworthiness.
- If your credit score is low, it can lead your loan application to rejection, so the Credit score should be higher than 750.
- Your Credit Score needs to be high because it determines your eligibility and a good score increases your chances of getting a loan.
- A tenure or loan amount will be decided based on your credit score, annual income, age and more.
- On the basis of all these criteria, your loan and the amount will be approved.
Steps to Apply for J & K Grameen Bank Personal Loan
Here are the steps on how you can apply for a Personal Loan in J & K Grameen Bank:
- There are two ways to apply for personal loans, Online and in person. For the online method, visit the official website of J & K Grameen Bank. If you can’t apply online, then visit the nearest branch of the bank.
- After reaching the nearest branch, the representative will explain the loan rates, eligibility, terms, processing fees and other clauses.
- Now you need to fill in all the personal, professional and financial details the lender has asked for and then you need to submit the form.
- Once you have submitted the form, the bank will check your provided information, including your eligibility and the available amount.
- If the bank has accepted the application, then you will be asked to submit the necessary documents. You can also upload it online.
- Then your documents will be processed by the bank. Now with the successful approval of the loan, your bank account will receive the funds immediately.
J & K Grameen Bank Personal Loan Approval Process FAQs
✅ Can an applicant apply for a personal loan jointly with their spouse?
Yes, personal loans are applied together with a co-applicant or either just by an individual. However, the co-applicant cannot be anyone apart from your family member. So, for example, it can be your parents or spouse.
✅ What can a personal loan be used for?
An individual can use a personal loan for debt consolidation, appliance purchases, home renovations and others. In some sectors, loans can also be helpful for business investments, down payments of house, medical bills and more.
✅ Why is Credit Score important in the process of Personal loans?
A credit score determines an applicants creditworthiness and based on it, and the bank decides whether the loan will be approved or not, due to which Credit Score is critical.