Mizoram 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
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      About Mizoram Rural Bank Personal Loan

      Mizoram Rural Bank Personal Loan

      The Mizoram Rural Bank was established in the year 1983 in the state of Mizoram. It is the only bank which serves in all the parts of Mizoram state. In addition to this, the headquarters of the bank resides in Aizawl, Mizoram. The bank is jointly owned by the government of India, the government of Mizoram and state bank of India.

      The primary motive behind the establishment is to provide financial services to the rural people of the states. The bank offers core banking products including loans, FB deposits, account management Etc. One of the most availed financial services that the bank is providing is a Personal Loan. This loan comes with low-interest rates thus making it easier for the applicant to pay the loan amount back.

      How does Mizoram Rural Bank provide Personal Loan to its customers?

      1. Firstly, you need to avail for the loan via filing an online application.
      2. Once you filled the form one of the bank employees will check your loan request and compare it with the bank requirement.
      3. Furthermore, the bank will evaluate your income eligibility and your CIBIL score.
      4. If your application meets, all the bank standards bank will offer you a loan amount and its respective interest rate.
      5. Lastly, you take the loan amount, and the disbursal of the loan takes place.

      Mizoram Rural Bank Personal Loan Advantages

      1. First, you get to avail lowest interest rate that you can get on Mizoram Rural Bank Personal Loan.
      2. In addition to this, the bank required minimal documentation from the applicant.
      3. Thus, making this loan one of the fastest and secure to avail loaning scheme.
      4. In addition to this, you only have to pay 2-3% of the total loan amount as a processing fee.
      5. Also, if your loan application full-fills all the criteria, you can expect your loan to get approval within 30 minutes after applying.
      6. When we are talking about approval, we must tell you the disbursal time. Bank takes about 48 hours to provide you the loan amount. Therefore, it is one of the best schemes to avail in the time of urgency.
      7. Likewise, you don’t need to provide any collateral to the bank. The amount of loan entirely depends on the applicant.
      8. In addition to this, Mizoram Rural Bank Personal Loan is available for both salaried and self-employed applicant.
      9. Moreover, as the name suggests you can use the principal amount in whatever way you like. Bank won’t ask you to specify the reason for taking a loan.
      10. Finally, the tenure options you will get on these loans are quite flexible. You can expect your loan tenure to be in the range of 2 years to 5 years.

      Mizoram Rural Bank Personal Loan Interest Rate

      10.70% is the annual rate of interest that you can expect from the bank if your loan application is perfect. Also, this loan comes with a foreclosure feature. That is you can repay your loan amount before the tenure and skip the remaining Emi’s and their respective interest rate.

      To avail this feature, you need to repay the remaining loan amount along with the foreclosure penalty which is almost negligible. 0-3% of the total loan amount is the foreclosure charges that the bank requires from the applicant if he/she decides to pre-close the loan

      Mizoram Rural Bank Personal Loan Eligibility

      For the salaried applicant:
      1. Firstly, 21 years to 61 years should be the age of the applicant for availing this loan.
      2. Also, your salary needs to deposit to a bank account.
      3. Furthermore, at the time of availing this loan, your credit score should be above 750.
      4. Similarly, one year of working experience with the current employer.
      5. In addition to this, one year of corporate experience is required.
      For the self-employed applicant:
      1. First, the age criteria are 25 to 65 years for the independent applicant
      2. Your business has to be in service for about three years minimum.
      3. Business needs to yield 30 Lacs as the annual turnover.
      4. Most importantly your credit score needs to be above 750 to avail of this loan.

      Mizoram Rural Bank Personal Loan Documents

      1. Identity Verification: An identification evidence can be an Aadhar card, PAN card, Driving license, voter ID card, or passport.
      2. Residency verification: Your Aadhar card, PAN card, Ration card, voter ID card, driving license, or passport can be viewed as proof of residence. An extension of this, if you are living on rent, then the rent contract or water/electricity charges for the last three months can be analyzed.
      3. Income evidence for the salaried candidate: 6 months of bank accounts along with six months of payroll slips.
      4. Income verification for the self-employed candidate: latest ITR certificates and reviewed business records.

      Mizoram Rural Bank Personal Loan EMI Calculator

      EMI Calculator.

      Mizoram Rural Bank Personal Loan Compared to Other Banks

      Bank Interest Rate Tenure Loan Amount & Proc Fee
      Mizoram Rural Bank  9.99% 12 to 60 months Up to Rs. 5 lakh / Up to 0.50% of the loan amount
      HDFC Bank 11.25% to 21.50% 12 to 60 months Up to Rs. 40 lakh / Up to 2.50% of the loan amount
      Bajaj Finserv Starting from 12.99% 12 to 60 months Up to Rs. 25 lakh / Up to 3.99% of the loan amount
      Axis Bank 15.75% to 24% 12 to 60 months Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount
      Citibank Starting from 10.99% 12 to 60 months Up to Rs. 30 lakh / Up to 3% of the loan amount
      ICICI Bank 11.50% to 19.25% 12 to 60 months Upto Rs. 20 lakh / Up to 2.25% of the loan amount

      Other Loan Products from Mizoram Rural Bank

      Gold Loan Car Loan Home Loan Business Loan
      TWL LAP Credit Card Education Loan

      Why should you apply for Mizoram Rural Bank Personal Loan with Dialabank?

      Dialabank compares offers from different banks across the country to help you choose the best offer. All you need to do is visit our website and fill a form, and we assist you with all your needs.

      How to Calculate EMIs for Mizoram Rural Bank Personal Loan

      You can calculate your EMIs using the below-given calculator.

      Mizoram Rural Bank Personal Loan Processing Time

      The General waiting time for your personal loan application to process is at least a week. For the borrowers, who have an account with the bank, disbursal time is only about 48 hours.

      Mizoram Rural Bank Personal Loan Preclosure Charges

      Mizoram Rural Bank allows you to close your personal loan without any additional charges. You only need to pay the outstanding principal amount of your loan.

      Pre Calculated EMI for Personal Loan

      Rate
      5 Yrs
      4 Yrs
      3 Yrs
      10.50%
      2149
      2560
      3250
      11.00%
      2174
      2584
      3273
      11.50%
      2199
      2608
      3297
      12.00%
      2224
      2633
      3321
      12.50%
      2249
      2658
      3345
      13.00%
      2275
      2682
      3369
      13.50%
      2300
      2707
      3393
      14.00%
      2326
      2732
      3417
      14.50%
      2352
      2757
      3442
      15.00%
      2378
      2783
      3466

      Types of Mizoram Rural Bank Personal Loan

      Mizoram Rural Bank Marriage Loan

      Weddings are happy occasions and are very important in India, but they prove to be very costly and can cause financial problems. You can apply for a personal loan and do away with all the worries related to money.

      Mizoram Rural Bank Personal Loan for Government Employees

      Central and state government employees get extra benefits and discounts for a personal loan. Mizoram Rural Bank offers specially tailored loans to help you meet your needs.

      Mizoram Rural Bank Doctor Loan

      If you are a doctor and have been practicing for more than 4 years, you can find personal loan offers that are customized as per your personal and professional needs.

      Mizoram Rural Bank Personal Loan for Pensioners

      Retired administration workers who withdraw their pension from the bank account of Mizoram Rural Bank can receive a personal loan to satisfy their post-retirement costs.

      Mizoram Rural Bank Personal Loan Balance Transfer

      You can transfer your heavy EMI personal loan from your existing lender to a new one under the personal loan balance transfer scheme of Mizoram Rural Bank.

      Mizoram Rural Bank Personal Loan Top Up

      Need more money on your personal loan? You can apply for a personal loan top-up and get extra funds to meet your needs.

      Mizoram Rural Bank Personal Loan Status

      To check the status of your Mizoram Rural Bank personal loan, you will need to visit the bank branch in person

      Types of Mizoram Rural Bank Personal Loan

      Home renovation loan

      Mizoram Rural Bank provides individuals who plan to renovate their homes with a home improvement loan. This personal loan can fund critical repairs or allow the borrower to purchase new furniture, fixtures, and furniture for the house. Four of the Mizoram Rural Bank Home Renovation Loan’s major features are:

      • The Home Renovation Loan of Mizoram Rural Bank’s interest rate starts at as low as 11.25%.
      • Individuals will be liable to renew their homes with a loan of up to Rs. 20 Lakh.
      • Mizoram Rural Bank’s home improvement loan needs minimum paperwork to free up the whole credit process.
      • Usually, within 72 hours after the bank accepts the applications, the loan balance will be credited to the account.

      Holiday loan

      The holiday loan from Mizoram Rural Bank will help you budget for your dream vacation with limited difficulties. A number of holiday-related expenses will be funded by this personal loan from Mizoram Rural Bank, including the booking of flight fares, hotel accommodation, guided tours, etc. The Mizoram Rural Bank Holiday Loan’s key features are:

      • Interest rates on holiday loans starting at 11.25 percent p.a.
      • You should use up to Rs 20 Lakh easily so that a financial crunch would not spoil your perfect vacation
      • Simplified and limited paperwork means fast and easy funding for your holiday.
      • Quick processing of the loan directly credited to your account and disbursement

      Fresher funding

      Most unsecured personal loans are meant for individuals with a daily income, while the Fresher Funding of Mizoram Rural Bank is distinct. The loan option provided by Mizoram Rural Bank is intended to help refreshers, i.e. recent graduates searching for their first job. Few of Mizoram Rural Bank Fresher Personal Loan Funding’s main features are as follows:

      • Up to Rs 1.5 lakh loan
      • A candidate must be 21 years of age or older.
      • The interest rate for Fresher Funding depends on the applicant’s profile, credit history/score, applicant’s age, and place.

      NRI Personal Loan

      Knowing the wishes and desires of NRIs, Mizoram Rural Bank provides NRIs directly with a personal loan. An Indian resident must be the main loan borrower, and a close relative must be the NRI co-applicant. The Personal Loan includes the following features for NRIs:

      • Mizoram Rural Bank offers NRIs with adjustable end-use personal loans of up to Rs. 10 lakh.
      • NRI Personal Loan interest rates launch at 15.49 percent p.a.
      • Up to 36 months is the term of the loan.

      How to avail of Mizoram Rural Bank Personal Loan?

      1. Visit Dialabank.com.
      2. Once you reach there, you have to fill the form shown on the screen.
      3. You need to provide your necessary details and your contact number.
      4. It is essential that you provide your correct contact information.
      5. Now after completing these steps your work is done now all you need to do is sit back and relax.
      6. One of our relationship managers will reach you via phone call.
      7. Our RM will guide you through the best loan deals and offers which you can get near your location.
      8. Also, we make sure you get a high loan to value ratio on your loan.
      9. Finally, we do all the heavy work for you at zero cost.
      10. Yes, don’t get shocked there are no hidden charges in our services. Our services are free, and the customer does not need to pay us.

      Personal Loan verification process

      Following the online submission of your loan application to DialaBank, the following are the principal stages of the personal loan authentication process. 

      Stage 1. DialaBank will forward to your chosen lender your loan application, and you will usually get a call from the representative of the lender within 48 hours. 

      Stage 2. The possible lender can arrange for your KYC documents, salaries, etc. to be collected or provide an opportunity to upload them online. To confirm your submission, these documents will be used. 

      Stage 3. You will get another call to confirm the loan bid and seek your permission for disbursement if the lender’s verification has been fulfilled and your loan has been approved. 

      Stage 4. The loan is normally disbursed within 48 hours of the loan’s acceptance and adequate verification. 

      Note: The timeframe for verification/disbursement of personal loans, as stated above, can vary on the basis of the internal criteria of the lender, as well as other parameters.

      Check your Mizoram Rural Bank Personal Loan application Status

      The process for checking your application’s status requires the following steps:

      • Visit the official website of Mizoram Rural Bank, click on ‘Products’, and select ‘Personal Loans.’
      • Click ‘More and choose’ Review Loan Application Status.’ on the next tab that opens below.
      • Firstly, by submitting details such as your contact number, date of birth, and either entering the OTP you get on your mobile number or using your application number, you can check your application status.

      How to login into the Mizoram Rural Bank portal

      • Visit the Official Website of Mizoram Rural Bank.
      • In the upper right corner of the screen, press the ‘Login’ button.
      • Using your user ID and password or your registered cell phone number to log in.

      How to Check Your Loan Statement

      By taking the following steps, customers can download the bank’s loan statement:

      • Visit the official website of the bank.
      • Tap ‘Get in touch’ and click ‘Requests for help’ from the drop-down column.
      • On the next page that opens, pick ‘Personal Loan Related’ under the ‘Loans’ menu.
      • Next, press the ‘Loan Account Statement Order’ button.
      • To make use of the bank’s loan statement, log in using your user ID and password or using your registered cell phone number and OTP.

      Mizoram Rural Bank Personal Loan Restructuring (COVID-19)

      Many borrowers have been adversely affected by the national lockout due to the COVID-19 pandemic, and a six-month moratorium on various term loans has been declared to some degree to minimize its impact. Mizoram Rural Bank announced an RBI-mandated one-time gain from the Mizoram Rural Bank loan restructuring after the six-month moratorium was terminated. This mechanism aims at providing continued relief to borrowers who are still unable to repay their daily EMI due to the ongoing financial distress of the pandemic.

      In order to minimize the monthly EMI payments, the loan settlement scheme implemented by Mizoram Rural Bank provides for an extended moratorium of up to 2 years or an extension of the current period of maturity. It is necessary to bear in mind, of course, that the restructuring of the loan by Bajaj Finance employees would result in additional interest rates exceeding those applicable to the initial loan. Using this relief method only as a last resort is also necessary so that the unpaid loan does not end up defaulting.

      Mizoram Rural Bank Customer Care

      Customers can approach Mizoram Rural Bank’s Customer Support via any of the following means:

      By phone: You can call Mizoram Rural Bank on 0389-2346380 (toll-free) 

      Callback order: You can also make a return call by accessing the bank’s website. 

      Online Chatbot: You can even have an apple Chatbot online to answer your questions. 

      Visit Branch: To obtain your requests, visit the nearest Mizoram Rural Bank branch.

      Benefits of Applying for Personal Loan on Dialabank

      On the DialaBank website, there are many drawbacks to applying for a personal loan. Below, some of these are given: 

      • 24 x 7 Accessibility: You can reach the DialaBank website anywhere, wherever and even apply at any time for a personal loan from the comfort of your home or office. 
      • Multiple lenders on a single platform:  com helps you to view personal loan offers on a single platform from multiple prospective lenders, avoiding the need to visit multiple bank websites or branches. 
      • Know EMI instantly: on DialaBank.com, use the personal loan EMI calculator, and you can check the EMIs that you are going to pay for on a personal loan right before applying for one. It can allow you to borrow the amount you need, which you will repay easily and have a stable payment schedule. 
      • Free of charge: In addition, when applying for a personal loan on DialaBank.com, you are not required to incur any fees.

      Important Aspects

      Below are some important items you need to note when applying to Mizoram Rural Bank for a personal loan:

      • It is still a smart thing to review your credit report before applying for a personal loan. A decent credit score increases the chances of accepting the loan and will make it possible for you to use a personal loan on conditions that are more desirable.
      • It is advisable to compare the expense of a personal loan (interest rates and all associated fees and charges) issued by various lenders on DialaBank.com before finalizing on a particular lender.
      • As per your wishes and ability to repay, borrow. Avoid borrowing only because you have the right to borrow a bigger amount. It will just add to the interest rate and will have no long-term advantages.
      • Avoid applying for individual loans concurrently with many lenders. It reveals that you are credit-hungry and therefore increases the amount of demanding credit report requests that can negatively impact your credit score.

      FAQs About Mizoram Rural Bank Personal Loan

      Q. What is Mizoram Rural Bank Personal Loan?

      A Personal Loan is a loaning scheme that can be availed to meet your urgent financial needs without the need to submit a security with the bank. You can easily apply for a Mizoram Rural Bank Personal Loan to finance your expenses.

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

      Personal Loan rate of interest in Mizoram 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 Mizoram 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 Mizoram Rural Bank?

      Ask for a Personal Loan by stepping into the most proximal Mizoram Rural Bank office with all the necessary documents. You can further apply online with Dialabank and avail personalized support for all your commercial requirements.

      Q. Why apply for Mizoram Rural Bank Personal Loan?

      Mizoram 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 Mizoram Rural Bank Personal Loan?

      Calculate your Mizoram 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 Mizoram Rural Bank Personal Loan?

      A CIBIL score over 700 is favored by Mizoram Rural Bank to pay 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 Mizoram Rural Bank Personal Loan?

      The credit summary is a measure and assessment of your creditworthiness. Mizoram Rural Bank wants you to have a credit score of at least 700 to consider your loan form for consent.

      Q. How to calculate Mizoram 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 Mizoram Rural Bank Personal Loan for?

      You can use your Mizoram 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 Mizoram Rural Bank Personal Loan?

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

      Q. How to prepay Mizoram Rural Bank Personal Loan?

      When the person has the essential money and perceives the necessity to close your loan at once, just hit the nearest Mizoram Rural Bank branch with your loan certificates and appeal for a foreclosure. You may be demanded to pay a small foreclosure fee in a supplement to your outstanding loan amount.

      Q. How to repay Mizoram Rural Bank Personal Loan?

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

      Q. What documents are needed for Mizoram 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 Mizoram Rural Bank.

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

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

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