Personal Loan Barara
A personal loan is an unsecured loan and which can be applied when one has a sudden financial emergency to meet but does not have enough funds in his hands. There are many benefits of a personal loan.
Personal Loan Barara have absolutely no restrictions on how to use the money, which makes it easy for the customer to utilize it for his/her personal needs.
Eligibility criteria for Personal Loan Barara
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 also, you need to satify the following criteria:
First of all, 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 all the salaried clients should be 60 years at the time of maturity and 65 years for the self-employed applicant.
Moreover, he needs to have a minimum CIBIL Score 700.
The client should have a rigid source of income.
Also, the salaried client should receive a salary in his bank account.
Moreover, the salaried applicant should be earning a monthly income of Rs. 18000 at least.
Lastly, the self-employed applicants should pay at least for the last three years an ITR of Rs. 2.5 Lacs
Personal Loan Barara Documentation
First of all, you require 2 colored passport sized photographs.
Also, you must have some documents for identity proof, Residential proof, and Income proof.
You need to provide your PAN card/Aadhar card/Voter Id card/Driving license/Passport for Identity and Residential proof.
Moreover, you need a bank statement or your salary slips of the last 6 months as income Proof. For a self-employed, you need to add your income tax return statement of the previous 3 years.
Personal Loan Barara 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.
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 Barara
The applicants are free to select the tenure of their loan 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- 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. No interest is charged.
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 Barara
The client 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.
The personal loan is that loan 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.
If the applicant is eligible then it takes only 30 minutes for the approval of 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 – 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.
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.
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.
Barara is a town in district Ambala of Haryana state, India. Rana Har Rai Chauhan established it. The place is known for burning the world’s largest effigy of Ravana during Dussehra festival.