Utkarsh Small Finance Bank Personal Loan Approval Process

Utkarsh Small Finance Bank Personal Loan Approval Process

About Utkarsh Small Finance Bank Personal Loan

A personal loan is a loan without collateral and paid with instalment for the life of the loan, which may be till five years of issue. Personal Loans may have high-interest rates, but the tenure is quite long to pay the instalments making it possible to complete repaying all the financiers; where you borrow a  Utkarsh Small Finance Bank Personal Loan Approval Processfixed amount of money and pay it back with interest in monthly payments one year to 7 years. The personal loan provided by Utkarsh Small Finance Bank Personal Loan is an unsecured type of loan and needs minimum documentation.

Benefits of Personal Loan:

    • Personal loans starting from 10,000 to 10,00,000.
    • Loan tenure duration is 12 Months to 48 Months
    • Easy EMI repayment options.
    • Foreclosure Allowed during the tenure of the loan
    • NACH(National Automated Clearing House for Banks, Financial Institutions, Corporates and Government a web-based solution to facilitate interbank, colossal size, electronic transactions repetitive and cyclic.)/SI allowed for loan repayment.
    • The minimum net income criteria are Rs 32,000 per month for the customer.
  • KYC documents such as driving license, Aadhaar card, and voter ID card,
  • Last three months’ salary slips (for salaried) or income proof (for self-employed),
  • Last six months’ bank account statements of your salary account (for salaried) or current account (for self-employed)

Utkarsh Small Finance Bank Personal Loan Eligibility

The eligibility criterion for a personal loan for Utkarsh Small Finance Bank are:

 

Particulars Salaried Self-Employed
Age 21 – 60 years 21 – 65 years
Minimum Income Rs.15,000* Rs.5 Lakh p.a.
Co-applicant Not mandatory Not mandatory
Loan Tenure 12 – 60 months 12 – 60 months
Maximum Loan Amount Rs.40 Lakh Rs.40 Lakh
Employment Type Employees of private limited companies and public sector undertakings
Self-employed individuals
Employment/Business Continuity At least 2 years; minimum 1 year with current employer
4 years Post Qualification experience for Doctors/ Chartered Accountants.
5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score 750 and above 750 and above
Residential Status
Resident Indian staying in own house or a rented house

 

*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000

*Note: The eligibility criteria vary from lender to lender.

Check Personal Loan Eligibility with Top Lenders in 2021

Bank Age Limit Minimum Work Experience
Minimum Income (Per Month)
SBI Up to 76 years NA** Rs.15,000
HDFC 21 to 60 years 2 years Rs. 20,000
ICICI 23 to 58 years 2 to 5 years Rs.17,500
Axis 21 to 60 years NA** Rs.15,000
Kotak Mahindra 22 to 55 years 1 year Rs.25,000
Tata Capital 21 to 58 years 1 year Rs.15,000
IndusInd 21 to 60 years 2 to 5 years Rs.25,000
Ujjivan Small Finance 22 to 58 years NA**
Above the minimum wage limit
India Infoline Finance Limited 25 to 60 years 6 months to 2 years Rs.35,000
HDBFS 21 to 65 years 1 year to 3 years
Rs.15,000 for salaried
Rs.1 lakh p.a. for self-employed
Indian Overseas Bank Up to 58 years NA* Rs.5,000
IDFC First Bank 23 to 68 years 3 years NA*
Federal Bank 21 – 55 Years 3 years Rs.25,000
Punjab National Bank 21 – 58 years 2 years for doctors Rs.15,000
Andhra Bank 21 – 55 years NA** NA*
Canara Bank NA** NA**
Salaried: Rs.6,000 & above
Self-employed – Rs. 1.5 lakh
IDBI Bank Up to 75 years for Pensioners NA** Rs.1.5 lakh p.a.
Fullerton India 21 to 55 years 1 to 2 years Rs.15,000
RBL Bank 25 to 60 years 1 to 3 years Rs.25,000
Bank of Baroda 21 to 60 years 1 year to 2 years
60% of gross monthly income
Deutsche Bank 25 to 60 years NA** Rs.25,000
Karnataka Bank NA** 3 years NA*
United Bank of India up to 75 Years 2 years NA*
UCO Bank 21 to 65 years 1 year to 5 years Rs.20,000

 

*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions

Learn More about Personal Loan: Click Here

 

Documents Required for Utkarsh Small Finance Bank Personal Loan

The documents required for Utkarsh Small Finance Bank are:

 

List of Documents Required for Salaried Applicants

Salaried individuals must submit the following documents in addition to a completed personal loan application form:

Photo Identity Proof (Any one) Passport
PAN Card
Voter’s ID
Aadhar Card
Driving License
Address Proof (Any one)
Passport
Utility Bill (telephone, electricity, water, gas) – less than 2 months old
Aadhaar Card
Driving License
Ration Card
Income Proof
Salary slips (Last 3 months)
Bank statements for the last 3 to 6 months (showing salary credit)
Tax Paid (Any one
IT returns (for 2 years)
Form 16
Residence Ownership Proof (Any one)
Property documents
Maintenance bill
Electricity bill
Proof of Job Continuity (Any one)
Current employment certificate
Current job appointment letter (if more than 2 years have been spent in the same organisation)
Experience certificate (previous employer’s relieving or appointment letter along with job certificate)
Proof of Investment (if any)
Fixed assets, fixed deposit, shares, etc.
Existing Loans (if any)
Payment Track Record & Sanction letter
Photograph
One coloured passport size photograph

 

List of Documents Required for Self-employed Applicants

Self-employed personal loan applicants must submit the following documents in addition to a fully completed loan application form:

Photo Identity Proof (Any one) Passport
PAN Card
Voter’s ID
Aadhaar Card
Driving License
Address Proof (Any one)
Passport
Aadhaar Card
Driving License
Utility Bill (telephone, water, electricity, gas) – less than 2 months old
Ration Card
Proof of Residence Ownership (Any one)
Property documents
Maintenance bill
Electricity bill
Proof of Office Address and Ownership (Any one)
Maintenance bill
Property documents
Electricity bill
Proof of Business Existence (Any one)
Copy of GST registration
Company registration license
Shop establishment proof
Income Proof
Last 2 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
Bank statement
Savings/current account bank statement/ bank passbook for the past one year
Proof of Investment (in case any)
Investments such as fixed deposit, fixed assets, shares, etc.
Existing Loans (in case any)
Payment Track Record and sanction letter
Professional Degree Certificate
In case of professionals
Photograph
One coloured passport size photograph

 

List of Documents Required for NRI Applicants

When applying for a personal loan, NRI candidates are typically required to submit the following documents:

Identity Proof Copy of the passport
Copy of the visa
Employment Proof Letter of Appointment
Job contract
Labour/ Identity card (if applicable)
Official email ID or the HR’s email ID
Income Proof Last 6 months’ bank statements
Last 6 months’ salary slips or salary certificate
Photograph Passport size photographs

 

List of Documents Required for Pensioners

When applying for a personal loan, a pensioner must submit the following documents:

Identity/Age Proof (Any one)
Ration card
Passport
PAN card
Aadhar card
Voter ID card
Driving licence
Birth certificate
School leaving certificate
Address Proof (Any one) Passport
Aadhaar card
Utility bills
Ration card
Driving licence
Income Proof (Any one)
Last 6 months’ bank statements/salary slips
Bank passbook
Form 16
Copy of pension payment order
Income tax returns
Photographs
Passport size photographs

 

Know More About: Personal Loan Eligibility Criteria

 

Utkarsh Small Finance Bank Personal Loan Approval Process

  • When the bank receives the personal loan application, the bank will confirm the information you provided in the application profile. Details such as salary deposits, bank statements, and any other actions such as the deduction of EMI from your account will be noted.
  • Then comes the verification stage, where the bank verifies the data provided in the form. The KYC is done here. The bank officials may reach to you for the bank personal loan applications and documents required. The bank here verify the documents given and inquires in the workplace or visits your home to dodge any fraud.
  • Here’s when the credit score plays its role. First, a credit score of 750 or more is acknowledged, and your loan is spontaneously approved. Next, the bank checks your credit score and looks at the transition past so far. Then, IT returns are examined for the last round, that is, the approval of the loan.
  • The loan amount for the personal loan and tenure will be decided by the bank based on the following: annual salary, credit score, age, salary growth rate and years left in service.
  • Once your loan is sanctioned, pay the processing fee and immediately can use the financiers.

Steps to Apply for Utkarsh Small Finance Bank Personal Loan

  • Visit the official website of Dialabank or contact us on 9878981166, or even send us an email at booking@dialabank.com we are open to all your queries.
  • Fill in the information asked by DialaBank for approving the form for the loan and submit the form.
  • With this, Dialabank would inform you of the amount of money you can obtain from the bank.
  • Lastly, Dialabank will process your records or documents and verify them, and if the bank approves the loan, the bank will immediately transfer the fund into your bank account.

Utkarsh Small Finance Bank Personal Loan Approval Process FAQs

 What is the processing fees in Utkarsh Small Finance Bank Personal Loan?

 Loan processing charges: Charges you incur on a Personal Loan. The bank has to bear some organisational expenses while processing and approving the loan. This is usually a tiny amount, which differs from bank to bank and can cost about 0.5% to 2.50% of the total amount of the loan applied for.

 How can I apply for Utkarsh Small Finance Bank Personal Loan?

Through both offline and online, an individual can apply for a personal loan. For offline, you can visit the nearest Utkarsh Small Finance Bank Personal Loan and online, visit DialaBank for more information.

✅ How can I contact Utkarsh Small Finance Bank Personal Loan?

Toll-Free Number to contact Utkarsh S