What is Personal Loan Killianwali?
Personal Loan is a fixed amount of money that is taken by people from the banks who are in need of money. It is an unsercured loan. A person might take this type of loan due to any medical emergency, education loan for their children, a family function or any other personal need.
Personal Loans are sanctioned by various banks across the country and are available at reasonable interest rates.
Who can apply for Personal Loan Killianwali?
A person who is an employee of any company or organization and a person, who is self-employed, both can apply for personal loan depending on various factors. We will find out below more about this under the eligibility criteria.
Eligibility Criteria for Personal Loan Killianwali
1. Age: The applicant’s age must be 21 years or above.
2. Salary: The salary of the person living in metropolitan cities must be 18,000 or above and for people living in other urban towns or cities must be 15,000 or above.
3. Amount of loan: The amount that is sanctioned to an applicant depends on his net salary.
4. CIBIL Score: While giving credit to a customer, his CIBIL Score is kept at priority.
5. Location: Another important factor while considering eligibility criteria is the applicant’s location. The candidate will get a loan from the banks located near his current location only.
6. Company’s Profile: Company’s profile in which the customer is working also plays a vital role.
For Self-Employed Applicants:
1. Type of Company: Whether the company is on proprietorship based or owned by two or more than two people.
2. Company’s Profit: This includes the turn-over of the company.
3. Age of Company: In this, we check the lifespan of the company, that tells us about the origination of the company (how old the company is).
4. Finances: Company’s financials are considered at priority.
5. CIBIL Score: The history of the person’s bank profile is tracked with the help of CIBIL Score, so this is very important.
Rate of Interest on Personal Loan Killianwali
Rate of Interest depends on the person’s profile and also where he works. In case of a self-employed person, his company’s lifespan is considered. ROI (Rate of Interest) varies from bank to bank.
Whenever there is a change in the Rate of Interest, then it is modified by every bank in the country. ROI may change at an interval of time but has no such significant changes.
10.99% to 18%
13.99% to 18%
17.25% to 32%
13.99% to 16.75%
15.50% to 24%
15.75% to 22%
13.75% to 19%
13.50% to 22%
13.50% to 19%
13.75% to 22%
14.50% to 20%
13.70% to 20%
Documents Required for Self-Employed Applicants:
1. All financials are considered
2. PAN Card
3. Adhar Card
4. Residence Proof
5. Two passport sized photographs
Documents Required for Salaried Applicants:
1. Last three months salary slips
2. Previous six months bank statements
3. PAN Card
4. Adhar Card
5. Residence Proof (Owned/Rented/Company’s Apartment)
6. Two passport sized photographs
*NOTE: In case of rented apartments, rent agreement is to be attached.
Why Personal Loan Killianwali?
There are several reasons listed below that will help you clear your mind while going for an option of Personal Loan:
1. Within 24 hours disbursal happens in Personal Loan Killianwali
2. There is no need for a guaranteer unlike other loan schemes
3. Hassle-free simple application steps are involved in Personal Loan Killianwali
4. Only the applicant’s necessary personal documents are required
5. No need to give papers of any asset in Personal Loan Killianwali
EMI on Personal Loan Killianwali
It is the monthly amount that the customer has to pay after the disbursal of loan. Now you can calculate your monthly EMI based on your loan amount and your net salary.
Processing Fee for Personal Loan Killianwali
There is always some loan processing fee that every bank charges at the time of sanctioning of the loan. The amount varies from bank to bank. The minimum amount of processing fee is @ 1% that some banks offer to its customers.
*NOTE: The amount of loan is decided on the person’s net salary (for salaried applicants) and the turn-over of the company (in case of self-employed applicants)