Janalakshmi Small Finance Bank Personal Loan Approval Process

About Janalakshmi Small Finance Bank Personal Loan

Are you looking to apply for personal loans? Then we got you because now Janalakshmi Small Finance Bank Personal Loan Approval Process provides people with a personal loan with the best deals and offers that will benefit the people. You can also check personal loans from the  Dialabank Personal Loan website. You can visit the official website of Dialabank for other types of loans. Now, if we come back to the Janalakshmi Small Finance Bank, then the best selling points of Janalakshmi Small Finance Bank Personal Loan Approval Process are the following:-

  • Janalakshmi Small Finance Bank offers pre-approved personal loans at a low rate for the costumers with strong credit-card history and those with an already existing account with the bank.Janalakshmi Small Finance Bank Personal Loan Approval Process
  • Janalakshmi Small Finance Bank also has an online application where the KYC and documents submission can be done digitally.
  • You can also easily check your Janalakshmi Small Finance Bank Personal Loan application status on a real-time basis on the bank’s website or by visiting the customer care centre.
  • Janalakshmi Small Finance Bank also has special schemes and different income and occupation groups.

Janalakshmi Small Finance Bank Personal Loan Eligibility

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

Click here to know more about - Salaried Applicant
Click here to know more about - Self-employed Applicant

*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
ICICI 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 Janalakshmi Small Finance Bank Personal Loan

Janalakshmi Small Finance Bank Personal Loan Approval Process

You are required to bring the following documents to avail personal loan from Janalakshmi Small Finance Bank –

  • Filled up a loan application form or an online form, if you are applying online
  • 2 Passport Size Photo
  • Identity Proof – One of the following: Driving License, PAN, Passport, Voter ID, Aadhaar Card
  • Residential Address Proof – One of the following: Registered Rent Agreement, Passport, Leave and License, Utility Bill of last three months
  • Income Documents – Copy of Form 16 of last 2 years, 3-month pay-slip, 3 months bank statement showing salary credit and any EMI debit

Steps to Apply for Janalakshmi Small Finance Bank Personal Loan

If you want to apply for the Janalakshmi Small Finance Bank Personal Loan, you can do it online or directly visit the branch. We will let you know the process both online and by visiting the branch. If you are planning to apply, then you have to follow the steps mentioned below:-

  • Visit the website of the Janalakshmi Small Finance Bank or contact the branch of the Janalakshmi Small Finance Bank.
  • Fill in the personal, professional and financial details as required by the bank and submit the form.
  • Once you submit the form online, the bank will check your eligibility and then let you know about the eligible amount.
  • Once you agree to process the application, you will have to submit the essential documents, which can be uploaded online.
  • At last, your documents will be processed by the Janalakshmi Small Finance Bank, and on successful approval of the loan, the funds will be disbursed to your Janalakshmi Small Finance Bank account immediately.

Now if you decided to visit the branch directly then you have to follow the steps given below:-

  • Visit the Janalakshmi Small Finance Bank branch and fill in the application form with the required personal details, occupation information, and contact number.
  • The Janalakshmi Small Finance Bank representative will explain the eligibility of the loan as well as the loan rates, terms, processing fees, prepayment, and foreclosure clauses.
  • After submitting the application form and required documents, you will be provided with an application reference number. You can use this number to track the status of your Janalakshmi Small Finance Bank Personal Loan application.
  • On successful verification, the loan can get disbursed immediately after loan sanction and signing of the agreement.

Janalakshmi Small Finance Bank Personal Loan Approval Process FAQs

 Why apply for Janalakshmi Small Finance personal loan?

Janalakshmi Small Finance Bank is one of the leading providers of personal loans in India, it offers the best loan options that come with a unique array of features and benefits. They provide personal loans at low-interest rates with minimum documentation for an easy and hassle-free process. The average disbursal time for a new customer is 4 hours. Repayment of the loan can be done through EMIs or via online payment options as preferred. Repayment tenure ranges between 1 to 5 years.

 How much EMI on Janalakshmi Small Finance Personal Loan?

EMI (Equated Monthly Installment) is the sum owing to the bank each month as payment of your loan. The EMI on Janalakshmi Small Finance Bank personal loan depends on the loan product, interest rate, and loan tenure. It can simply be added using the EMI calculator on Dialabank’s website.

How much CIBIL score is required for Janalakshmi Small Finance Personal Loan?

Applicants’ CIBIL score holds the most important part in the story of the loan approval. Janalakshmi Small Finance requires you to have a CIBIL score in excess of 750 with 700 being the absolute lower limit. You can increase your CIBIL score by making timely payments of your EMIs and credit cards.

 Minimum credit score needed for Janalakshmi Small Finance Personal Loan?

A credit score is a 3 number amount between the area of 300-900 which shows the creditworthiness of the borrower. It is based on your prior loan data and your fulfilment in the payment of your loans. Janalakshmi Small Finance Bank wants you to have the least credit score of 750 to enhance free for a personal loan.