Personal Loan Lunglei

⋆ Interest Rate 9.99% ⋆

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                                                                 About Personal Loan Lunglei

      Personal Loan Lunglei

      A personal loan is the best option if you need funds for urgent needs or a short period .it can be availed for any purposes. A personal loan is a type of loan that is available for you whenever you need it.

      A personal loan allows the buyer to use the money as per their choice. The borrower does not need to keep anything in the bank as collateral.

      Working capital for your business, setting up a new plant, short term loan for equipment purchase, holiday, home renovation are some of the reasons personal loans are given to her. A personal loan may differ among banks the basic steps of getting a loan are as follows:

      1. Search for the appropriate bank
      2. Documentation and Application Form Filling
      3. Loan Process Begin
      4. Loan Disbursal

      The demand for Personal loans is increasing day by day and so is the interest rate offered by all the possible banks in the area. The rates range between 9.5 -37% but differ between various lending institutions.

      The demand for Personal loans is increasing day by day and so is the interest rate offered by all the possible banks in the area. The rates range between 9.5 -37% but differ between various lending institutions.

      Why Apply for Personal Loan Lunglei?

      1. There is no need to deposit any mortgage and collateral security to the bank.
      2. A personal loan is a multi-purpose offer loan. It can be used for all the problems related to finance.
      3. The amount of personal loan depends upon the repayment of individual income and capacity.
      4. A Personal Loan does not require any guarantor or nominee.

      Eligibility Criteria for Personal Loan Lunglei

      The eligibility criteria for both Salaried and Self-Employed are different:

      For Salaried Applicants

      1. The minimum age requirements of individuals should be 21 years and a maximum of up to 60 years.
      2. The applicants must have the work experience of the three years. And the salary should be received in their accounts only.
      3. The applicants must have an excellent credit history.
      4. The job location of the applicant should be mentioned.
      5.  A borrower should have a minimum income in metropolitan city RS 18,000 and in non -metro city RS 12,000

      Click here to know more about- Salaried Applicant

      For Self-Employed Applicants

      1. The minimum age requirement for an independent person should be 25 years.
      2. The applicants applying for the personal loan should file ITR for the last three years.
      3. If the applicants are the businessman, then the business should be running from the past three years.
      4. The credit score of the individual applicants should be good .there should not be any debt or dues left.
      5. The annual income of the applicants should be a minimum of Rs 2.5 lakh.
      6. The whole documentation process of the personal loan is the applicants have to submit his financial and his bank statement of the previous three months.

      Click here to know more – Self-employed Applicant

      Personal Loan Lunglei Interest Rates:

      The interest rates in Personal Loan depends upon the company’s profile and salary of a person. The interest rate of personal Loans starts from 10.75% per year.

      More About: Interest Rates on Personal Loan

      Documents for Personal Loan Lunglei

      1. Residence proof: the documents required for the residence proof includes (Passport / ID card / Voter card / Aadhaar card / Ration card / Driving license), and if the applicants are living in rental apartments then they have to submit their Agreement, Electricity bill on his name and address of the owner.
      2. Self-employed: the applicants of personal loan should file ITR for the last three years, and his business should be registered.
      3. Salaried applicants: The applicants have to show his salary slip for the last three months and bank statement for the last six months.
      4. Under KYC formality, every applicant has to submit his pan card, which is an essential document.
      5. Two colored passport size photos 🙁 Applicants should not wear any glasses)

      How to apply for Personal Loan Lunglei?

      1. Visit www.dialabank.com.
      2. Go to the loan section and click on the personal loan link.
      3. The applicant will be directed to all details of the personal loan where they can choose their preferred city.
      4. For more information and free guidance, you may call on 9878981166.
      5. About Personal Loan

      Processing Fee / Prepayment Charges on Personal Loan Lunglei

      All Banks and NBFCs cost a certain fee to process a Personal Loan application. This cost varies between 1.5% to 2.5% of the sanctioned loan amount.

      If you wish to close your loan before the decided loan tenure, all lending institutions will be charging you a penalty as a prepayment fee. Usually, you will not be allowed to close your loan before a period of 12 months. Post that, the charges differ based on the number of years the loan has completed. This charge varies from 4% of the remaining loan amount in the second year to 2% in the fourth year of the loan.

      To know about the interest rate click on personal loan interest rate

      Personal Loan Lunglei EMI Calculator

      Equated Monthly Installments or EMI implies a monthly fixed rate that you are needed to pay to the bank as monthly repayment for the loan amount which is secured. According to your profile, the rate of interest on your loan is set. The EMI on your loan is calculated depending upon the Rate the bank charges you with and the loan amount you have to take and the period for which you take the loan.

      CIBIL Score required for Personal Loan Lunglei

      All the lending institutions have their criteria for a minimal CIBIL score that is needed to process a Personal Loan application in Lunglei. Mostly, the institutions need a minimum score of at least 750 to further process an application.

      No institution only looks at the overall score. They also look at an elaborated view of the previous loans. The details include the type of loans and the amount of money that was borrowed. If there exists any delay in the payments of the previous loans, it may hinder the approval of the present loan.

      personal loan at 10.75%*

      Personal Loan Lunglei Agents

      Dialabank is one of the leading agents for availing Personal Loan in Lunglei. You can easily apply online at www.dialabank.com or give a call at 9878981166

      Dialabank assists you to look for the best option of Banks and NBFCs by giving you access to an in-detail market comparative analysis of various banks to help you pick the right one. Visit our website www.dialabank.com and fill out a simple form with the details of personal and employment data. Our customer relationship managers will be in touch with you shortly.

      Personal Loan Lunglei Contact Number

      Call 9878981166 and get timely assistance and approval for Personal Loan in Lunglei.

      Pre Calculated EMI Table for Personal Loan Lunglei

      Click here for a personal loan EMI calculator

      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

      FAQs About Personal Loan Lunglei

      Who can apply for a Personal Loan in Lunglei?

      People who have an urgent need for cash and have a regular source of income (from employment or business) can apply for a Personal Loan in Lunglei.

      What is the tenure of Personal Loan in Lunglei?

      Most of the Banks and NBFCs provide a Personal Loan for a min period of 1 Yr and a Max period of 5 Years. There are some Banks which extend the maximum period to 7 Years also. The tenure is fixed and cannot be extended. The repayment has to be done in equal monthly installments within the agreed tenure of the loan.

      Are there any other charges involved in Personal Loan Lunglei?

      Yes, there are 2 types of charges that one needs to pay to avail a personal loan in Lunglei:

      Processing Fee: For every bank or lending institution that you borrow from, there is a small fee that they charge from the customer. This is known as Processing Fee. The amount of processing fee varies for each lending institution and is normally between 1% and 2.5% of the loan amount.

      Pre-closure Charges: If you want to close a running loan before its decided tenure period, the Banks and NBFCs charge an extra amount known as pre-closure charges on the borrowed loan amount. Different banks have different pre-closure charges. The pre-closure charges vary depending on how many years has your loan completed before you decide to pre-close it.

      Can my application for Personal Loan Lunglei get rejected due to my CIBIL score?

      Personal Loan, being an unsecured loan, one of the most significant decision criteria for getting your Personal Loan application approved is your CIBIL Score. Having a High CIBIL score becomes extremely important if you wish to avail of a Personal Loan in the future. Make sure you don’t leave or delay any of your loan EMI payments or any credit card payments as that will result in decreasing your CIBIL score. Most of the Personal Loan rejections occur because of a low CIBIL Score.

      Personal Loan Interest Rates in Lunglei

      Bank
      Processing Fee
      Prepayment Charges
      HDFC Bank Personal Loan
      0.25% to 1.50%
      2%, Nil foreclosure charges after 3 months
      Axis Bank Personal Loan
      0.50% to 1.50%
      Nil
      ICICI Bank Personal Loan
      0.25% to 1.50%
      2%, Nil foreclosure charges after 9 months
      SBI Personal Loan
      500/- to 0.50%
      Nil
      Kotak Personal Loan
      1% to 2%
      2.25% of fore closure amount if closed 1 month ahead of the tenure.
      IIFL Personal Loan
      Nil
      Nil
      Muthoot Personal Loan
      Nil
      Nil
      Manappauram Personal Loan
      Nil
      Nil
      PNB Personal Loan
      0.70% to 1%
      Nil
      Canara Bank Personal Loan
      1%
      Nil
      Andhra Bank Personal Loan
      Nil
      Nil

      To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates

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