Manipur Rural Bank Personal Loan

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Why us?

Rates as low as 10.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

About Manipur Rural Bank Personal Loan

Manipur Rural Bank was established in the year 1981 in the city of Manipur. The bank came into existence with the help of the government of India, United Bank of India and the government of Manipur. The United Bank of India provided the sponsorship of Manipur Rural Bank.

The bank is working for the upliftment of the rural people of Manipur state. In addition to this, the bank is providing financial products to the people of Manipur at an affordable cost. One of the most frequently used products of the bank is the personal loan.

How does Manipur Rural Bank Personal Loan work?

  1. See,  first of all, you need to apply to avail this loan.
  2. Once you submitted the loan request, it gets a transfer to the bank. One of the bank employees evaluate your application and check whether it meets the bank standards or not.
  3. Also, at this point of process bank checks your income eligibility along with your CIBIL or credit score.
  4. After that Bank decides the loan amount and the rate of interest.
  5. Finally, the disbursal of the loan takes place, and you get your loan amount.

Advantages of taking Manipur Rural Bank Personal Loan

  1. Firstly, this loan comes with an affordable interest rate.
  2. Also, you don’t have to provide any collateral against the loan amount to the bank.
  3. Therefore, the loan amount is dependent on the documents that the applicant provides.
  4. Likewise, the processing fee that a bank requires on a personal loan application is 2-3% of the total loan amount.
  5. In comparison to another loaning scheme, the loan process of documentation is less time-consuming.
  6. Thus, if an applicant full-fills all the criteria bank will approve the loan request within 30 minutes.
  7. Within 48 hours the disbursal of the loan is done.
  8. As a result, a personal loan is considered to be one of the fastest and the hassle-free loaning scheme.
  9. The tenure options range from 1 year to 5 years. And bank lets you decide the loaning tenure.
  10. In addition to this, you can close the loan before time by providing the foreclosure penalty and your remaining loan amount.
  11. Now you might be thinking what the foreclosure charges for a personal loan are. To your surprise Bank charges 0-3% of the total loan amount as foreclosure penalty.
  12. By paying your loan amount beforehand, you are surely saving some money as you don’t have to pay the remaining interest rate and its respective EMI’s.
  13. Besides that, both self-employed and salaried applicant can avail this loan and use its principal amount according to their desires.

Manipur Rural Bank Personal Loan Interest Rates

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.

Eligibility for taking Manipur Rural Bank Personal Loan

For self – employed the applicant:

  1. The minimum age for which you can avail personal loan is 25, and the maximum is 65 years.
  2. Furthermore, the ITR return is at least 2.5 Lac of the past year.
  3. In addition to this, your CIBIL needs to be at least 750.
  4. Likewise,  applicant’s business annual turnover must be above 30 Lac.
  5. Also, your business needs to be running for the past three years.

For the salaried applicant: 

  1.  Twenty-one years is the minimum age and maximum age for availing is 61 years for the salaried applicant.
  2. Also, your salary should be at least 18,000 Rs monthly.
  3. Besides this, the salary of the borrower needs to come to a bank account.
  4. 750 is the minimum credit score that a bank requires from the salaried applicant.

Documentation required for Manipur Rural Bank Personal Loan

Manipur Rural Bank Personal Loan

  1. Six months of bank statements along with six months of salary slip as income proof for the salaried applicant.
  2. On the other hand, latest ITR documents and audited financial papers of business as self-employed applicant’s income proof.
  3. An identity proof it can be an Aadhar card, PAN card, Driving license, voter ID card or your passport
  4. Your Aadhar card, PAN card, Ration card, voter ID card, driving license, or passport is considered as residence proof. In addition to this, if you are living on rent, then the rent agreement or water/electricity bills for the last three months can be considered.

How to avail Manipur Rural Bank Personal Loan?

1.    Firstly, you need to go to DialaBank.

2.    After that, provide your necessary details and contact information.

3.    Now after completing these steps your work is done now all you need to do is sit back and relax.

4.    One of our relationship managers will connect with you via phone call.

5.    Our RM will provide you the best loan deals and offers on your loan.

6.    Also, we make sure you get a high loan to value ratio on your loan.

7.    Finally, we do all the heavy work for you at a fee of cost.

8.    Yes, don’t be shocked there are no hidden charges in our services.

9.     Our services are completely free along with fully transparent.

FAQs About Manipur Rural Bank Personal Loan

Q. What is Manipur Rural Bank Personal Loan?

If you find yourself in need of urgent funds for your personal expenses like wedding, travel, payment of bills, and etc. You can apply for a Personal Loan from Manipur Rural Bank and fulfill all your needs. Personal Loans come with long tenures for easy repayment with attractive interest rates.

Q. What is Personal Loan rate of interest in Manipur Rural Bank?

Personal Loan rate of interest in Manipur Rural Bank starts at 10.75% per annum. You can visit Dialabank’s online portal to compare the rates of different banks and finance companies across India.

Q. How can I get Manipur Rural Bank Personal Loan?

To get a Personal Loan you will have to visit the nearest branch with basic KYC documents, PAN card, and income proofs(salary slips, bank statement). You can also contact Dialabank to avail of the best financial advice and get the personally curated deals and offers for all your financial needs.

Q. How to apply for Personal Loan in Manipur Rural Bank?

Apply for a Personal Loan by walking into the nearest Manipur Rural Bank branch with all the requisite documents. You can also apply online with Dialabank and avail personalized assistance for all your financial needs.

Q. Why apply for Manipur Rural Bank Personal Loan?

Manipur Rural Bank Personal Loans can be used for any personal financial needs. Be it a wedding, travel, bills, repair and renovation of home, and etc. You do not have to provide any collateral security in exchange for your loan and the repayment can be done in monthly installments, EMIs.

Q. How much EMI on Manipur Rural Bank Personal Loan?

Calculate your Manipur Rural Bank Personal Loan EMI using your loan tenure, loan amount, and rate of interest on Dialabank’s EMI calculator and apply for all your loan needs with us.

Q. How much CIBIL score required for Manipur Rural Bank Personal Loan?

A CIBIL score above 700 is preferred by Manipur Rural Bank to disburse a Personal Loan. Being an unsecured loan your CIBIL score plays a big role in determining your loan eligibility as it calculates the risk of default for your lender.

Q. Minimum credit score needed for Manipur Rural Bank Personal Loan?

The credit score is a measurement and estimate of your creditworthiness. Manipur Rural Bank requires you to have a credit score of at least 700 to consider your loan application for approval.

Q. How to calculate Manipur Rural Bank Personal Loan EMI?

Use your loan amount, loan tenure, and rate of interest to calculate your Personal Loan EMI using the EMI calculator available on Dialabank’s website.

Q. What can I use Manipur Rural Bank Personal Loan for?

You can use your Manipur Rural Bank Personal Loan for a number of financial needs such as funding your marriage or that of a relative, pay all your big and small bills, renovate or repair your home, and etc.

Q. Can I prepay Manipur Rural Bank Personal Loan?

If you have the required funds you can pre-close your loan by visiting the branch of Manipur Rural Bank from where your loan was approved and asking your banker about the prepayment facilities.

Q. How to prepay Manipur Rural Bank Personal Loan?

When you have the required money and feel the need to close your loan at once, just visit the nearest Manipur Rural Bank branch with your loan documents and apply for a foreclosure. You may be asked to pay a small foreclosure fee in addition to your outstanding loan amount.

Q. How to repay Manipur Rural Bank Personal Loan?

Repay your Personal Loan in easy burden-free EMIs that are automatically deducted from your bank account each month. Your Manipur Rural Bank Personal Loan can be repaid through post-dated cheques too.

Q. What documents are needed for Manipur Rural Bank Personal Loan?

Aadhar Card/Voter ID, PAN Card, Salary Slips, Bank Statement, and ITR File are the documents that are required to avail a Personal Loan from Manipur Rural Bank.

Q. How to check Manipur Rural Bank Personal Loan status?

Visit your loan branch or contact the customer care number of Manipur Rural Bank to know the status of your loan application and stay updated.

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