Personal Loan Arwal
In today’s era, it may be difficult for you to meet every finance-related need. You may want to spend your income on your personal needs but are short of funds. Your problem is solved.
Personal Loan Arwal is here for you to provide you assistance in your financial crisis. Also, these loans can fulfill your immediate financial requirements. Moreover, these loans are unsecured loans, which make them more flexible and convenient.
Eligibility criteria for Personal Loan Arwal
The applicant needs to fulfill some criterion. You are eligible to get the personal loan if you are a salaried employee or a Self Employed. Further, you need to meet the following requirements:
The minimum age must be 21 years for salaried person and for self-employed 25 years.
Also, the applicant needs to be a citizen or permanent resident of India.
The maximum age of the salaried applicant is 60 years, and for the self-employed, it is 65 years.
Also, the minimum Credit Score of the applicant should be 700.
Also, s/he requires having a rigid source of income.
If the applicant is salaried s/he should be getting the salary in his bank account.
Moreover, the monthly income of the salaried applicant should be Rs. 18000 minimum.
Lastly, for all the self-employed applicants, ITR of Rs. 2.5 Lacs should be paid at least for the last three years.
Personal Loan Arwal Documentation
Firstly, you need to have 2 colored passport size photographs.
He must have few documents for identity proof, Residential proof and Income proof.
For Identity and Residential Proof, you can use PAN card or Aadhar card or Voter Id card or Driving license or Passport.
Also, Income Proof is essential to provide like your bank statement or your salary slips of the last 6 months. For a self-employed, you will require adding your income tax return statement of the previous 3 years.
Personal Loan Arwal Interest Rates
Generally, the interest rate of personal loan is 10.75% p.a. But it keeps changing due to various factors like the amount of credit, bank, etc.
Personal Loans avails the applicant to close the loan before completion of its tenure. But the process includes some penalty charges. Also, these charges are 0-2%.
Tenure of Personal Loan Arwal
The applicants are free to choose the tenure of the loan from 1 year to 5 years. It depends upon the applicant’s need.
Methods of Repayment
There are 3 repayment ways:
Term Loan- In which the customer pays to the bank per month interest rate and in the end also he will pay the principal amount.
Overdraft- Overdraft facility helps the customer to pay only for the used amount for that particular time of the loan. Also, no interest charged on the amount borrowed.
EMI- EMI in which the bank makes the installment of a part of interest rate and principal after which the customer need to pay it per month.
Features of the Personal Loan Arwal
It is quick to Apply. The applicant can apply for a Personal Loan online in 2 minutes. However, the Personal Loan is also available offline as well, but the process of applying online is quick and easy.
You can visit our website, www.bookmyloans.in.
Also, Personal Loan doesn’t involve any collateral. A personal loan is given based on their income or salary.
The borrower does not have to face any restrictions on the end use of credit.
Also, the tenure of the personal loan is flexible.
Moreover, it only takes 30 minutes for approval of Personal Loan.
Where can the Personal Loan amount be used?
The personal Loan amount is for multiple uses. But still, the reasons are to be specified.
Wedding – Wedding can be a grand occasion in one’ life, and this grand occasion comes with huge expenses which can be aided by Personal Loan.
Education –Personal Loan can assist you in getting an excellent study for yourself or your child.
Medical – You never know when you come with health-related issues. In such scenarios, personal Loan is the best option to get financial aid in such situations.
Vacations – Everybody wants to go on Vacations. But this can add to your expenses. So in this case, the personal loan provides you a boost up.
Besides all, Personal Loan can be used for many more purposes. It’s totally based on the applicant’s will.
Arwal is the district in the state of Bihar, India. Also, most of the population is engaged in the primary sector.