Meghalaya Rural Bank Personal Loan

⋆ Interest Rate 9.99% ⋆

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Why us?

Rates as low as 9.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

About Meghalaya Rural Bank Personal Loan

Meghalaya Rural Bank Personal LoanThe Rural Bank of Meghalaya was founded in the year 1981. The bank serves its financial product to the rural population of the state.
It was established under the sponsorship of Union Bank of India. In addition to this Meghalaya Rural Bank also provides net banking, mobile banking, ATM cards, and loans.
One of the frequently used loaning schemes is Personal Loan. The bank is providing special offers and deals on personal loan in which borrower is not required to submit any collateral to the bank.

How does Meghalaya Rural Bank provide Personal Loan?

  1. Firstly, you need to apply for a personal loan.
  2. Now once you submitted your application one of the employee will evaluate it and compare it with banks criteria.
  3. At this point of process bank also checks your income eligibility and your CIBIL score.
  4. Then the bank decides the loan amount and the interest rate.
  5. Finally, you take the loan amount from the bank, and the disbursal of the loan takes place.

Meghalaya Rural Bank Personal Loan Advantages

  1. In any loaning scheme interest rate is the most significant factor we all consider while deciding which loan to avail.
  2. In the case of Meghalaya Rural Bank Personal Loan, you will be getting a lower interest rate in comparison to another loaning scheme in which you don’t have to provide any collateral to the bank.
  3. Also, as we have said earlier this loan is an unsecured loan. Thus, you don’t need to provide any collateral to the bank.
  4. As a result, the loan amount is dependent on the individual who is availing the loan.
  5. Likewise, personal loan requires minimal documentation.
  6. Thus, making it one of the fastest loaning scheme to avail at the moment.
  7. Moreover, you can expect the loan amount ranging from 50,000 Rs to 40 Lacs.
  8. In addition to this, you only need to provide 2-3% as the processing fee.
  9. Furthermore, if you meet all the criteria then within 30 minutes your loan get approval.
  10. Besides, the disbursal of loan is fast you can get your loan amount in 48 hours once your application is approved.
  11. Both salaried and self-employed applicant is eligible to take this loan and use it according to their needs.

Meghalaya Rural Bank Personal Loan Eligibility

For the salaried applicant:
  1. Applicant’s age should be a minimum of 21 years and should not exceed 61 years.
  2. Also, the borrower must have a bank account, and his/her salary needs to come to a bank account.
  3. The minimum salary on which bank provides this loan is 18,000 Rs per month.
  4. Likewise, an applicant must be working with the current employment company for about one year.
  5. In addition to this, the applicant needs to have one year of working experience.
  6. Finally, this is one of the most important criteria that a bank requires it’s the CIBIL score. The bank needs 750 as the minimum CIBIL or credit score from the applicant.
For the self-employed applicant:
  1. For the independent applicant, the bank has set the age criteria ranging from 25 years to 65 years.
  2. Also, the business of the applicant needs to be working for at least three years.
  3. Moreover, the business needs to be yielding at least 30 Lacs as annual turnover.
  4. Furthermore, the ITR of the applicant should be more than 2.5 Lac for the past three years.

Meghalaya Rural Bank Personal Loan Interest Rates

You can avail the loan at the lowest interest rate of 10.70% but with extremely good application. One more thing that you need to keep in mind is that once the rate of interest is set, it remains the same throughout the loaning tenure. Speaking of Loaning tenure, you can get a loan for about two years to 5 years.
Personal Loan comes with foreclosure ability. That is you can close the loan before time and save a buck or two. You only need to pay the remaining loan amount along with the foreclosure penalty. 0-3% is the total loan amount of the forecloser charges that you need to pay if you are availing for foreclosure.

Meghalaya Rural Bank Personal Loan Documents

  1. Aadhar card/PAN Card/Passport copy/Driving License can be used as Identity proof.
  2. Income proof for the self-employed applicant:- ITR papers of last years.
  3. Income proof for the salaried applicant: 6 months of income receipt along with your banking statement of the past six months.
  4. Residential Proof: Aadhar Card / PAN Card/ Voter ID Card/ Passport/ Driving License/Ration Card/Utility bills of last three months on the name of applicant/ Rent Agreement.

How to avail for Personal Loan from Meghalaya Rural Bank?

  1. First, you need to go to Dialabank.com
  2. Secondly, you have to fill your contact number along with your necessary details.
  3. You must provide your correct contact details.
  4. With us, you will surely get a high loan to value ratio on your loan.
  5. Also, our RM will look for the best offers which can use with your loan.
  6. Ring us at any time we are all ears to guide you to the best.
  7. Enjoy free of cost service through the process.

FAQs About Meghalaya Rural Bank Personal Loan

Q. What is Meghalaya Rural Bank Personal Loan?

Have an expense that you need to cover or need some financial assistance then the Personal Loan from Meghalaya Rural Bank is just what you need. You can avail Personal Loans with minimal documentation and at competitive rates to meet your money needs.

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

The lowest rate of interest for Personal Loan from Meghalaya Rural Bank is 10.75% per annum. The interest rate offered to you may vary according to your credit score and monthly income.

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

Get quick disbursing Personal Loans from Meghalaya Rural Bank by visiting the nearest branch with your documents. After verification and approval of your loan application, you will get the loan amount in your bank account and can use it for all your financial needs.

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

You can apply for Personal Loan from Meghalaya Rural Bank by visiting the branch with all the requisite documents and submitting a duly signed application form to the banker. You get the loan amount in your account once your eligibility has been verified and your loan has been approved.

Q. Why apply for Meghalaya Rural Bank Personal Loan?

Personal Loans from Meghalaya Rural Bank can be used to fulfil a wide array of your financial needs. These loans come with high funding. long tenure, low-interest rates, and easy repayment facilities. You are not required to submit any form of security with the bank in exchange for these loans.

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

Personal Loan EMI for Meghalaya Rural Bank can be calculated using an online EMI calculator using just the three parameters, loan amount, loan tenure, and rate of interest.

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

A CIBIL score over 700 is required for Meghalaya Rural Bank Personal Loans. Your CIBIL score helps the bank to estimate your creditworthiness and repayment abilities.

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

You will need to maintain a credit score of at least 700 to avail a Meghalaya Rural Bank Personal Loan.

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

Your Personal Loan EMI can be calculated using an online EMI Calculator. Visit Dialabank to compare offers from different banking and non-banking financial companies and apply for the ones that best suit your needs.

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

Meghalaya Rural Bank Personal Loan can be used for a wide array of personal financial needs. You can meet all your day to day expenses and even the big ones that burden you financially. You can finance your vacations, family events, weddings, etc. You can also use your Personal Loan to renovate your home.

Q. Can I prepay Meghalaya Rural Bank Personal Loan?

Yes, for the prepayment of your Personal Loan with Meghalaya Rural Bank by reaching out the branch you availed the loan from and requesting for the same. Foreclosure charge will be applied along with the entire payment of the outstanding loan is to be made.

Q. How to prepay Meghalaya Rural Bank Personal Loan?

Prepay your Meghalaya Rural Bank Personal Loan by contacting your loan branch in person. Depending on the case, you might be required to pay a small foreclosure fee along with your outstanding loan amount to close your Personal Loan.

Q. How to repay Meghalaya Rural Bank Personal Loan?

Your Meghalaya Rural Bank Personal Loan can be repaid in several ways, the most common being automatic deduction of EMIs from your bank account. You can also contact your loan branch for further information on your repayment options.

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

You need your address and identity proof(Aadhar Card/Voter ID), PAN Card, Income proof(Salary Slips and Bank statement), and two recent passport-sized photographs for your Meghalaya Rural Bank Personal Loan.

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

Status of your Personal Loan with Meghalaya Rural Bank can be checked by visiting the branch and contacting your loan officer.

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