Personal Loan Babra
Are you short of cash? Or do you want your child to get married? Or do you want funds for any other personal need? Well, this is the end to your problems.
Personal Loan Babra is always here at your service to provide you finance in your difficult times. It is readily available with many repayment modes.
Eligibility criteria for Personal Loan Babra
The applicant needs to fulfill a particular criterion. You are eligible to get the personal loan if you are a salaried employee or a Self Employed. Further, you need to fulfill the following requirements:
First of all, the applicant needs to be the age of 21 years for salaried person. But it is 25 years for self-employed.
Then, one should be a citizen or permanent resident of India.
The maximum age at the time of maturity for salaried applicants should be 60 years and 65 years for the self-employed applicant.
Also, the applicant needs to have a minimum Credit Score 700.
Applicant should have a rigid source of income.
The salaried applicants should be receiving salary in his bank account.
Also, the monthly income of the salaried applicant must be Rs. 18000 minimum.
Lastly, the self-employed applicants needs to pay ITR of Rs. 2.5 Lacs at least for the last three years.
Personal Loan Babra Documentation
Firstly, you need 2 colored passport sized photographs.
Then, you must have some documents for your identity proof, Residential proof and Income proof.
For Identity and Residential Proof- PAN card or Aadhar card or Voter Id card or Driving license or Passport are required.
Furthermore, bank statement or your salary slips of last 6 months can be given for income Proof. For a self-employed, you need to add your income tax return statement of the last 3 years.
Personal Loan Babra Interest Rates
Basically, the interest rate of personal loan is 10.75% p.a. But it changes time to time due to various factors like the amount of loan, bank, etc.
Personal Loans is available to the applicant with the Pre-closure facility, but it includes some penalty charges. Generally, these charges are 0-2%.
Tenure of Personal Loan Babra
The applicants are free to choose the tenure from 1 year to 5 years freely. It depends upon the applicant’s wish.
Methods of Repayment
A personal loan can be repaid in 3 ways:
Term Loan- The customer pays the bank per month interest rate, and in the end, also he will pay the principal amount as well.
Overdraft- Overdraft facility provides the customer to pay only the used amount for that particular time of the loan. There is no interest charged upon 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 Babra
The application process is easy. The applicant can apply online in 2 minutes. Moreover, the Personal Loan is available offline as well, but applying online is hassle-free.
You can visit our website, www.bookmyloans.in.
Personal Loan doesn’t include any asset as collateral. Applicants get the personal loan as per their income or salary.
Moreover, the applicant does not have any strict rules for the end use of the loan amount.
Also, the tenure of the loan is flexible.
It takes merely 30 minutes for the approval of Personal Loan only if the applicant is eligible.
Where can the Personal Loan amount be used?
The personal Loan amount is taken for multiple uses. But still, the reasons are to be specified.
Wedding – a personal loan can be used for wedding purposes. But it involves a large amount of funds. For such purposes, a person can quickly get a Personal Loan.
Education –Personal Loan can be helpful in when you need money for quality education for yourself or your child.
Medical – You never know when you meet with any uncertainty, and you get out of funds. Personal Loan is the best option to get financial help in such situations.
Vacations – Everyone wants to enjoy their lives and what is better than experiencing Vacations. But this can be quite expensive. So in such scenarios, the personal loan helps you to have a boost up.
It’s totally based on the applicant’s will.
Babra is a town in the Amreli district of Gujarat state, India. Also, Babra was the capital of Babruvahana, the son of Arjuna, who was one of the five Pandavas.