Manipur Rural Bank Personal Loan Approval Process

Manipur Rural Bank Personal Loan Approval Process

About Manipur Rural Bank Personal Loan

Would you want to apply for a personal loan? Then you’re at the right place since Manipur Rural BankPersonal Loan Approval Process presently provides clients personal loans with the finest discounts and deals, which will be very beneficial to them. The Dialabank Personal Loan homepage also has information about personal loans. In addition, Dialabank’s official website lists a variety of lending options.

Customers with a solid credit history and an account with Gramin Bank are eligible for low-interest pre-approved personal loans.

You may also complete your KYC and submit your papers digitally using Gramin Bank’s online application.

By accessing the bank’s website, you can keep track of your Punjab Gramin Bank personal loan application status in real-time.

Manipur Rural 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

*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 Manipur Rural Bank Personal Loan

 

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

 

Manipur Rural Bank Personal Loan Approval Process

When you apply for a personal loan, firstly, you must fulfil the following personal loan eligibility criteria:

  • Age: You must be aged a minimum of 21 years when applying for the loan and below 65 years when the loan matures.
  • Occupation: You could either be a salaried individual working with a reputed MNC/government organization/private company or self-employed.
  • Nationality: You must be an Indian resident.
  • CIBIL score: Your CIBIL Score should be 750 or above.
  • Income: Your minimum monthly income should be at least Rs. 25,000.
  • Work experience: You must have work experience of at least two years, with at least one year with the current employer.

Once you meet the above eligibility criteria (that may vary from lender to lender), you must furnish the following set of documents for a personal loan (documents requirement may also vary from lender to lender):

  • Personal loan application form (duly filled & signed) with two recent passport-sized photographs.
  • Identity proof: Driving license, Aadhaar Card, Voter ID, Passport, PAN Card, etc.
  • Address proof: Driving license, Aadhaar Card, Voter ID, Passport, Leave & License Agreement, recent Utility Bill, etc.
  • Income proof for salaried: Salary slips of last two months or current dated salary certificate, latest Form 16, bank account statements of last three months of your salary account or passbook of previous six months.
  • Income proof for self-employed: Income proof, bank account statements of last six months of the current account.
  • Other documents for self-employed: Office address proof, proof of residence/office ownership, and proof of business continuity.

Steps to Apply for Manipur Rural Bank Personal Loan

If you intend to apply for a personal loan at Manipur rural bank, then you can refer to the following steps:- 

  • Visit the Manipur Rural bank Official Website and fill out the contact us form; after 24-48 hours, the bank executives will get in touch with you depending on your eligibility and loan worthiness. 
  • Visit the nearest branch of Manipur Rural Bank and talk to the loan section officer. 
  • Once the loan verification and document submission are completed, your loan will move to the process stage, and then, depending on your CIBIL Score, your loan will get sanctioned.

Manipur Rural Bank Personal Loan Approval Process FAQs

✅ How does a personal loan work?

A personal loan is a financial product offered by various banks to its customers depending on their relationship with them. Usually, banks provide easy and fast personal loans to individuals with good credit histories.

✅ What is an EMI?

EMI stands for Easy Monthly Installments. It is a facility provided by the banks to repay the loan.

✅ What is a credit score? Why is it important?

A Credit score is provided by the credit bureau, which depending on your transaction history, banks officially use for analyzing risk profiles of the individual.