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 
fixed 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 |
| Private | 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
