Personal Loan Patiala

Best Banks for Personal Loan in Patiala

Personal Loan in Patiala Features

A Personal Loan Patiala is a loan that provides financial support to people for private use. The loan is unsecured in nature and does not require any asset to pledge. One can meet many imperative requirements with these funds like home improvements, going on vacations, paying off debts, meeting urgent financial emergencies, etc.

Personal Loan Patiala is an unsecured loan that provides financial aid to customers at affordable interest rates. To avail of a Personal Loan, the consumer needs to have a rigid and good income source and has a good credit history.

Besides, there is no end-use restriction on the use of the personal loan amount. You can use this loan amount anywhere you wish to do.

Personal Loan in Patiala Interest Rates

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

Documents Required for Personal Loan in Patiala

The documents required for a personal loan in Patiala is different for the salaried and self-employed customers:

Salaried Customers:

1. 2 Passport-sized photographs (colored)
2. Proof of Identity such as Aadhaar card, driving license, PAN Card, etc.
3. Bank statements for the last 6 months
4. Salary slips of last three months
5. Proof of residence (Owned/Rented/Company provided)

*NOTE: In the case of rental rooms, a rent agreement needs to be attached.

Self-Employed Customers:

1. All financials are required that is Balance Sheet, P&L Statement, as well as ITR files.
2. Government-approved ID ( Aadhar Card/ PAN Card/ Driving License, etc.)
3. Proof of residence (Owned/Rented/Company provided)
4. Two passport-sized photographs

Personal Loan in Patiala Eligibility Criteria

The personal loan eligibility criteria for both Salaried and Self-Employed  for getting a personal loan in Patiala vary in the following ways:

Salaried Applicants:

1. The age of the applicant should be between 21 to 60 years.
2. The applicants must have three years’ work experience, and the salary should be received only in their accounts.
3. The applicants must have a good credit history.
4. The job location of the consumer should be mentioned.
5. A good CIBIL Score is a must for approval of the personal loan.

Self-Employed Applicants:

1. The minimum age requirement for an applier should be 25 years.
2. The credit score of the applicants must be good. There should not be any debt or dues left.
3. The consumers applying for the personal loan should present the ITR files for the last three years.
4. If the consumers are the businessman, then the business should be functioning from the past three years.
5. The annual income of the applicants must be a minimum of Rs 2.5 lakh.
6. For the entire documentation process of the personal loan, the applicants have to submit their financial and bank statements for the previous three months.

Click here to know more about eligibility: Personal Loan Eligibility.

Why Apply for a Personal Loan in Patiala?

1. As it is an unsecured loan, no security or collateral needs to be deposited.
2. A personal loan is a multi-purpose offer loan and can be used for any purpose whatsoever.
3. The amount of personal loans depends upon individual income and capacity.
4. A Personal Loan does not need any guarantor or nominee.

How to apply for a Personal Loan in Patiala?

1. Visit Dialabank.
2. Visit the loan section and click on the personal loan link.
3. The applicant will be directed to all details of the personal loan to pick your preferred city. Fill in all the necessary details.
4. Our executives will then contact you for checking the eligibility and provide you with the best offers.
5. For more information, you may call on 9878981166.

Processing Fees / Prepayment Charges on Personal Loan in Patiala

Every Bank and NBFC charges processing fees for your Personal Loan application in Patiala. These charges vary from 1% of the loan amount.

If you wish to foreclose your loan before the agreed loan tenure, every lending institution charges a penal prepayment fee. In most cases, you can close your loan before 12 months. After that, the charges alter how many years the loan has been done. These charges range from 4% of the outstanding loan amount in the 2nd year to 2% in the loan’s 4th year.

Personal Loan EMI Calculator Patiala

Equated Monthly Installments(EMI) are the monthly fixed payments that you must pay to the bank for the loan amount borrowed.  Based on your profile, the interest rate on your personal loan is decided. Your EMI is calculated basis the personal loan Interest Rate the bank charges you and the loan amount you have taken and the tenure period for which you enjoy the loan.

Get to know more about the EMI Calculator: Personal Loan EMI Calculator.

CIBIL Score required for Personal Loan Patiala

CIBIL score is an important criterion for loan approval. Different banks have different CIBIL Score requirements. Most institutions require a minimum score of 750 for processing your loan application.

Other than the CIBIL score, the institutions also detailed behaviour on the previous loans taken. This comprises the type of loan taken and the loan amount borrowed. Any delayed payments for previous loans can create a hurdle to your availing of a fresh loan.

Personal Loan Patiala Agents/Broker

Dialabank is the leading agent for availing Personal Loan in Patiala. Just apply online or give us a call at 9878981166

Dialabank assists in finding the best option for Banks and NBFCs by providing you with a detailed market comparison of different banks to make the right option. Visit our website and fill a simple form with your details. Our customer relationship managers will contact you soon.

Personal Loan Patiala Contact Number

Call 9878981166 and get Instant Personal Loan in Patiala.

Pre Calculated EMI Table for Personal Loan Patiala

About Patiala

Patiala is a city in Punjab, in northern India. It is the third-largest city in the state and is located around a castle named Qila Mubarak. It is highly popular for its traditional turban, paranda, Patiala Salwar, Jutti, and Patiala peg. Rakesh Sharma, the first Indian astronaut, was also born in Patiala.

Major localities in Patiala for availing Personal Loan