All about Personal Loan Rangareddi
Are you thinking about getting a loan from the bank but don’t have any collateral to pledge? Is your business facing a substantial financial loss? Do you need extra funds to pay your daughter’s college fee? Then we have got you covered. With a Personal Loan scheme, you can evade yourself from all these problems in a short period. Yes, don’t get yourself confused; it’s merely a financial scheme, but it can solve all your questions related to money shortage. Banks introduced this loan only for one reason in particular so people can full-fill their personal needs without having to pay a high-interest rate amount.
About Personal Loan Rangareddi
See personal loan is nothing but a loaning scheme in which an applicant takes credit from the bank to full-fill his/her individual needs. To avail this loan, you as a borrower is not required to have any collateral. What bank needs from the borrower is a good CIBIL or credit score. If in case your CIBIL is not up to the desired mark bank will not give personal loan no matter what. You can apply easily apply for this loan anywhere anytime by using financial portals such as DialaBank and Paisso. With our service, you will get extra benefits and special offers in addition to your credit.
Interest Rates for Personal Loan Rangareddi
See with a personal loan you cannot determine the exact rate of interest beforehand. It depends on person to person. The minimum amount of interest rate you can get on a personal loan is 10.75%. Also once the rate of interest rate is decided it never changes from time to time. Also, it comes with a foreclosure feature i.e. you can close the loan before the tenure ends. To avail this feature, you need to provide foreclosure charges which range from 2-3% of the total loan amount.
Eligibility for taking Personal Loan Rangareddi
For the salaried applicant:
- Twenty-one years is the minimum age and maximum age for availing is 61 years for the salaried applicant.
- Also, your salary should be at least 18,000 Rs monthly.
- In addition to this, the salary of the borrower needs to come to a bank account.
For self – employed the applicant:
- Your business needs to be running for the past three years.
- Likewise, applicant’s business annual turnover must be above 30 Lac.
- Furthermore, ITR return is at least 2.5 Lac of the past year
- The minimum age for which you can avail personal loan is 25, and the maximum is 65 years.
Required documents to avail Personal Loan Rangareddi
- Income proof for the salaried applicant: 6 months of bank statements along with six months of salary slips.
- Income proof for the self-employed applicant: latest ITR documents and audited financial papers of business
- Identity Proof: An identity proof it can be an Aadhar card, PAN card, Driving license, voter ID card or your passport
- Residence proof: Your Aadhar card, PAN card, Ration card, voter ID card, driving license, or passport can be considered as the proof of residence. In addition to this, if you are living on rent, then the rent agreement or water/electricity bills for the last three months can be considered.
Benefits of taking Personal Loan Rangareddi
- First, you get to avail lowest interest rate that you can get on personal loan.
- In addition to this, the bank required minimal documentation from the applicant.
- Thus, making this loan one of the fastest and secure to avail loaning scheme.
- In addition to this, you only have to pay 2-3% of the total loan amount as a processing fee.
- Besides that, you don’t need to submit any collateral to the bank as security against the loan amount.
- As a result, this loan is said to be an unsecured way of taking credit from the bank.
- Furthermore, this loan comes with flexible tenure options. You can choose a tenure of 2 years to 5 years maximum.
- On the contrary, if you are looking for a loan which you can quickly pay in a short period then also you can take the personal credit as it comes with foreclosure ability.
Rangareddy is one of the thirty-one districts situated in the Telangana state of India. The city is also called Cyberbad and Hyderabad rural. The region came into existence in the year 1978 when it got split up from Hyderabad districts.
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