Personal Loan Nagpur

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Why us?

Rates as low as 10.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

With the help of a Personal Loan you can fulfill all your dreams, be it anything like, going on a vacation abroad with your family, having a great destination wedding, etc. A personal loan Nagpur can be used for any purpose as per the requirement of the borrower. You do not have to intimate the usage of the funds to the bank.

All About Personal Loan Nagpur

In this modern world, with increasing expenses and a new lifestyle, it is very difficult to cope with the trend. A personal loan Nagpur is a feature provided by banks & NBFCs to get the best loan options to manage all your expenses easily, especially for the people living in metro cities.

A personal loan Nagpur is a loan that can be used in multiple ways for fulfilling many purposes. These purposes could be debt repayment, taxes, paying medical bills and more. Personal finance is instant finance option, which a person can avail within 2-3 working days with minimal documentation and hassle free process.

Why Should One Apply for Personal Loan Nagpur?

  1. Personal Loan Nagpur is a multi-purpose loan that can be used for almost all financial problems.
  2. No need to put any property or asset as security with the lender.
  3. No cosigner needed.
  4. Flexible Personal Loan Nagpur tenure.
  5. One of the best interest rates as comapred to other loan options.

Personal Loan Nagpur Eligibility

Personal Loan Nagpur

Personal Loan Nagpur does not apply to everyone, and there are some eligibility criteria based on which the bank provides a loan to the applicant. There are two categories of applicants:

Salaried

Self-employed

There are different eligibility criteria for both type of applicants.

Salaried Applicant

  1. The minimum age of the applicant should be 21 years and maximum up to 60 years.
  2. The borrower should have a minimum salary of  Rs.18,000 per month
  3. The borrower must have the work experience of the last three years, and the salary should come in their account only.
  4. The person must have a good CIBIL score, i.e. at least 700+
  5. The documentation process is straightforward; you have to submit your bank statement of the last three months and the salary slip of the previous six months.

To know more visit Personal Loan for Salaried

Self-employed Applicant

  1. The self-employed person’s minimum age should be 25 years and maximum 65 years.
  2. The applicant should file ITR at least for the last three years.
  3. The CIBIL of the applicant should be good, and no debt should be left due.
  4. The ITR (Income tax return) which the applicant files should be Rs 2.5 lakhs per annum at least.
  5. And if the applicant is a businessman then his business should be running from the last three years.

To know more visit Personal Loan for Self Employed

Personal Loan Nagpur Documents

  1. Identity proof (Passport/Id card/voter card/driving license/Aadhar Card) It can be any one of them.
  2. Residence proof (Passport/voter card/driving license/Aadhar Card/Ration Card). And the applicant living in a rented house, then they have to submit their rental agreement.
  3. The applicant must submit their PAN card, which is an essential document under the KYC formality.
  4. Salaried applicants have to submit their salary slip of the last three months and the bank statements of the last six months.
  5. The self-employed applicant has to submit the ITR of the last three years, and registration of their business should be done.
  6. Two passport size colored photos. (Applicant should not be wearing glasses)

Document

Salary of individuals

Professionals

Businessmen

2 photographs

Yes

Yes

Yes

Details of Identity

Yes

Yes

Yes

Details of Residence

Yes

Yes

Yes

Signature verification from the bank

Yes

Yes

Yes

Certificate of Degree & Certificate of practice

No

Yes

No

Details of Income

Form 16 and Latest pay slip (Form 16 required only when applying under holiday finance)

Balance Sheet and IT returns P/L statement of account for the last 2 years

IT Returns and Balance Sheet & P/L statement of Account for the last 2 years

Statements of bank account

On last 3 months

On last 6 months

In the last 6 months

Personal Loan Nagpur Interest Rates

Personal Loan interest rates may vary from person to person as it depends upon the salary and CIBIL score of the applicant. The interest rate of Personal Loan Nagpur starts from 10.75% per year.

To know more visit Interest rates Personal loan.

How to Apply for Personal Loan Nagpur?

Anybody can apply for Personal Loan Nagpur online only in 2 minutes. The process of application is straightforward and quick.

  1. First of all, you should check your eligibility.
  2. Visit www.dialabank.com.
  3. After that, apply for a Personal Loan online.
  4. Enter your personal details and contact number so that we can contact you back.
  5. Dialabank is the best platform to apply for a personal loan as you will get a loan at affordable rates of interest.

About Nagpur

It is the 3rd largest city in the state of Maharashtra. Nagpur is one of the upcoming Smart Cities in Maharashtra. It is also known as Deekshabhoomi, the largest hollow stupa among all the Buddhist stupas in the world. Nagpur is known as the ‘Orange City’ because it is a major trade center of oranges and is famous for its “Nagpuri Oranges” all over the world. The Banks and NBFCs are also willing to process the personal loans in Nagpur.

FAQs

What is the income criteria for a salaried to get a personal loan?

To avail the service of a personal loan, your minimum salary should be Rs. 20,000 per month.

How is an EMI of personal loan measured?

EMI Formula calculates the monthly installment you have to pay in the loan tenure.

E = P*R (1+r) n/ ((1+r) n-1))

Where

E = Equated Minimum Installment (EMI)

P = Principal Loan Amount

R = The Rate of Interest per month.

Which bank provides the most affordable personal loan interest rates?

The Interest rates depend on multiple factors such as your income, credit history and many other factors, different banks have different interest rates. But, generally banks offer interest rates starting from 10.75% for a personal loan.

What is the tenure of Personal Loan?

The tenure of a Personal Loan is from one year to five years.

How much personal loan amount I can borrow from a bank?

You can avail to a maximum loan amount of Rupees 20 lakhs. It alters according to your credit history and earnings.

How much does a Bank charges as the processing fee of a personal loan?

The processing fee charged by a Bank is 0-2% of the entire loan amount.

Is age an eligibility determinant in availing a personal loan?

Yes, acceptable age criteria are set for applying for a Personal Loan. The minimum eligible age must be 25 years, and the maximum age is 65 years.

How to use the loan calculator?

Visit EMI Calculator and fill the loan amount, interest rate and tenure linked to your loan. Your EMI will be estimated automatically.

How much CIBIL score is needed for a Personal Loan?

Usually, the CIBIL score or a credit score of more than 700 is deemed a good score. In general, credit score ranges from 300 to 900; in this range, 300 is the lowest score you can get, whereas 900 is the highest.

Personal Loan Nagpur Interest Rates: Updated 2020

BankInterest Rates

HDFC Bank

10.99% to 18%

ICICI Bank

13.99% to 18%

Fullerton India

17.25% to 32%

Bajaj Finserv

13.99% to 16.75%

Axis Bank

15.50% to 24%

Standard Chartered Bank

15.75% to 22%

Kotak Mahindra Bank

13.75% to 19%

Andhra Bank

13.50% to 22%

Bank of Baroda

13.50% to 19%

Vijaya Bank

13.75% to 22%

Corporation Bank

14.50% to 20%

Allahabad Bank

13.70% to 20%

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