Personal Loan Balaghat
The personal loans can be applied for financial needs like wedding, education fees, medical emergencies, planned vacation tours, paying off other debts, or any other personal financial requirement. Personal Loan Balaghat is readily available to you. It is an excellent option in your financial emergencies.
Eligibility criteria for Personal Loan Balaghat
The applicant needs to fulfill some criterion. He is eligible to apply for the personal loan if he is Self Employed or a salaried employee. Further, he need to meet the following criteria:
Firstly, the applicant needs to be 21 years for salaried person and for self-employed, then it is 25 years.
Also, the applicant should be a citizen or permanent resident of India.
The maximum age for the entire salaried applicants should be 60 years at the time of maturity and 65 years for the self-employed applicant.
Moreover, the borrower needs to have a minimum Credit Score 700.
Applicant should have a rigid source of income.
Also, the salaried applicants should receive a salary in his bank account.
Also, the monthly income of the salaried applicant should be Rs. 18000 minimum.
Lastly, the self-employed applicants should pay at least for the last three years an ITR of Rs. 2.5 Lacs
Personal Loan Balaghat Documentation
First of all, the applicant needs 2 coloured passport sized photographs.
Also, you must have some documents for 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. One of these documents is given as proof.
Further, income Proof is needed to provide like bank statement or your salary slips of the last 6 months. For a self-employed, you need to add your income tax return statement of the previous 3 years.
Personal Loan Balaghat Interest Rates
Basically, the interest rate of personal loan is 10.75% p.a. But it varies time to time due to various factors like the amount of loan, bank, etc.
Pre-closure Charges
Personal Loans avails the applicant with Pre-closure facility, but it includes some penalty charges. Generally, these charges are 0-2%.
Tenure of Personal Loan Balaghat
The applicants can choose the tenure of their credit from 1 year to 5 years. It depends upon the applicant’s convenience.
Methods of Repayment
Personal loan repayment is made in 3 ways:
Term Loan- Under this, the customer pays the bank per month interest rate, and in the end, also he will pay the principal amount.
Overdraft- Overdraft facility provides the customer to pay only the used amount for that particular time of the loan. Also, there are no interest charges.
EMI- EMI in which the banker makes the instalment of a part of interest rate and principal after which the customer need to pay it per month.
Features of the Personal Loan Balaghat
It is convenient and easy to Apply. The applicant can apply online in 2 minutes. Also, the Personal Loan is available offline as well, but applying online is hassle-free.
You can visit our website, www.bookmyloans.in.
A personal loan is that which doesn’t involve any asset. Applicants get the personal loan as per their income or salary.
The applicant does not have any rules and restrictions on the end use of loan amount.
Also, tenure 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 amount of personal loan is available for multiple purposes like:
Education –Personal Loan can be helpful in having quality education for yourself or your child.
Medical – You never know when you meet with an accident, and you get out of cash. A personal loan is the best option to get financial aid in such situations.
Wedding – a personal loan can be used for wedding purposes. It involves a significant amount of funds. For such purposes, a person can quickly get a Personal Loan.
Vacations – Everyone wants to have fun in their lives and what can be better than going on Vacations. But this can cost heavier. So in this scenario, the personal loan provides you a boost up.
At last, it’s totally based on the applicant’s will.
About Balaghat
Balaghat is a district in the state Madhya Pradesh, India. Also, Balaghat is currently a part of the Red Corridor.