Nagaland Rural Bank Personal Loan

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Rates as low as 9.99%*
Loans Up to 30 Lacs
Same Day Disbursal
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About Nagaland Rural Bank Personal Loan

Nagaland Rural Bank Personal Loan

Nagaland Rural Bank was established by the sponsorship of State Bank of India. The headquarters of the bank was founded in Kohima, India. In addition to this, the bank is providing a financial product to the rural population of the state. One of the best services that Nagaland Rural Bank provides is a Personal Loan.

Eligibility for availing Personal Loan From Nagaland Rural Bank

For the self-employed applicant:

  1. your business must yield an annual turnover of at-least 30 Lacs.
  2. In addition to this, you need to have an account in a bank.
  3. Twenty-one years to 71 years is the age criteria to avail this loan.
  4. Likewise, applicant’s business should be running for about three years.
  5. 2.5 Lac is the required ITR return of the self-employed applicant.
  6. Most importantly, your CIBIL needs to be above 750.

For the salaried applicant:

  1. Firstly, your age should be in between  21 and maximum age to avail this loan is 61.
  2. For the salaried applicant, the bank requires 18,000 Rs as minimum monthly salary.
  3. Likewise, your salary should come to that bank account.
  4. Last but not least for availing personal loan a salaried applicant’s CIBIL has to be above 750.

Documentation required for taking Nagaland Rural Bank Personal Loan

  1. Firstly, the bank requires an identity proof such as Aadhar Card / PAN Card/ Voter ID Card/ Passport/ Driving License.

  2. Also, the salaried applicant needs to provide income proof. The applicant can use his/her last six months of banks statement along with the past six months pay slips.

  3. For the self-employed applicant, the bank requires the latest ITR return paper and audited business paper as income proof.

  4. After that, you need to provide a residential proof document. You can give any of these documents for residential verification Aadhar Card / PAN Card/ Voter ID Card/ Passport/ Driving License/Ration Card. In case you living in a rented apartment you can provide utility bills or your rental agreement.

How does Nagaland Rural Bank Personal Loan work?

  1. First of all, you need to apply to apply for Nagaland Rural Bank Personal Loan
  2. Once the loan request is submitted, it gets a transfer to the bank.
  3. One of the bank employees will evaluate your application and check whether it meets the bank standards or not.
  4. At this moment, the bank will assess your CIBIL score and your income eligibility.
  5. Finally, the disbursal of Nagaland Rural Bank Personal Loan takes place, and you get the required loan amount from the bank.

Advantages of Nagaland Rural Bank Personal Loan

  1. You get to avail low-interest rate in comparison to other loaning schemes in which you don’t have to provide collateral.
  2. Also, as we have said earlier this loan does not require collateral. As a result, Nagaland Rural Bank Personal Loan scheme is unsecured.
  3. Likewise, the documentation process for this loan is fast and is less time-consuming.
  4. Moreover, when you apply for Nagaland Rural Bank Personal Loan, you only need to provide 2-3% of the total loan amount as the processing fee.
  5. In addition to this, you can get 40,000 Rs to 40Lac as the principal loan amount from these loans.
  6. Moreover, tenure options range from 2 years to 5 years and come with foreclosure feature.
  7. Now you might be thinking what foreclosure is. Foreclosure is nothing but a method in which borrower pay his/her loan amount before the tenure period.
  8. You only require to submit the reaming loan amount and the foreclosure penalty which is 0-3% of the total loan amount.
  9. By doing this, you will save a few bucks as you don’t have to pay the remaining  EMI’s and their respective rate of interest.

Nagaland Rural Bank Personal Loan Interest Rates

The minimum rate of interest that you can expect on this loan is 10.70% annually. The rate of the interest rate of personal loaning scheme of Nagaland Rural Bank depends on the applicant. If someone is taking a considerable amount of loan and has the right banking history, the bank is more than happy to provide a low-interest rate.

How to avail Nagaland Rural Bank Personal Loan online?

  1. First, you need to go to our website www.dialabank.com.
  2. Now, you need to fill the required details along with your phone number on the form.
  3. Once you submit the form your work is done. All you need to do is sit back and relax.
  4. One of our RM will soon be in touch with you and provide you with their expert assistance.
  5. Our RM representative will guide through all the deals and offers which you can easily avail on your loan.
  6. Also, let me tell you one more thing you don’t have to pay us anything.
  7. Yes, don’t get shocked but we provide our service at free of cost, and there are no hidden charges.

FAQs About Nagaland Rural Bank Personal Loan

Q. What is Nagaland 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 Nagaland 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 Nagaland Rural Bank?

Nagaland Rural Bank Personal Loan rates start from 10.75% per annum. The rate of interest depends on the borrower’s profile. If you have a good CIBIL Score you can expect a lower rate of interest.

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

You can get a Personal Loan from Nagaland Rural Bank by visiting the nearest branch with your documents and duly signed application form. You can also visit Dialabank’s digital platform to compare offers of different banks and financial companies.

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

You can apply for a Personal Loan with Nagaland Rural Bank by contacting your nearest branch in person or through Dialabank’s online portal for better convenience and to get the best deals and offers.

Q. Why apply for Nagaland Rural Bank Personal Loan?

Personal Loans can be used to finance all your small and big expenses. The long tenures and attractive interest rates make it easy to repay the loan in burden-free EMIs. You can use your Nagaland Rural Bank Personal Loan for all your personal financial needs without having to submit any security.

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

Your Personal Loan EMI depends on your loan amount, loan tenure, and rate of interest. You can visit Dialabank and use our EMI Calculator to calculate your Nagaland Rural Bank Personal Loan EMIs.

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

You will need a CIBIL score above 700 for your Personal Loan with Nagaland Rural Bank. Banks require a high CIBIL score for unsecured Personal Loans because it helps calculate the risk of default.

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

A minimum credit score of 700 is needed for Nagaland Rural Bank Personal Loans. A healthy credit score is a necessity to avail unsecured loans.

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

You can calculate your Nagaland Rural Bank Personal Loan EMI using the formula, E = P x R x [((1+R)^N)/((1+R)^N)-1]. Here, P is your principal loan amount, R is your rate of interest, and N is the loan tenure. You can also use Dialabank’s EMI calculator.

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

Your Nagaland Rural Bank Personal Loan can be used to fulfill all your financial needs and meet all your personal expenses. A wedding, an event, travel and vacation, buying of consumer goods, payment of bills, and etc.

Q. Can I prepay Nagaland Rural Bank Personal Loan?

Yes, you can prepay your Nagaland Rural Bank Personal Loan by contacting your loan branch in person. In some cases, you may be required to pay a small foreclosure charge.

Q. How to prepay Nagaland Rural Bank Personal Loan?

Visit your Nagaland Rural Bank loan branch and apply for a foreclosure on your Personal Loan account. You will need to pay all the pending amount and upon verification of your payments, your loan will be closed.

Q. How to repay Nagaland Rural Bank Personal Loan?

You can repay your Nagaland Rural Bank Personal Loan in easy monthly EMIs that consist of both your principal amount and interest. You can either give a standing instruction or an ECS on your bank account for monthly deduction of EMIs.

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

You will need your basic KYC documents along with proof of your income to apply for a Personal Loan from Nagaland Rural Bank. These documents are to be submitted along with a duly signed application form with the bank.

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

You can check your Personal Loan status by contacting your Nagaland Rural Bank branch in person or through customer care number.

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