Personal Loan Dela
A personal loan is the consumer loan granted to the consumer for personal or household use. Such loans are usually unsecured i.e.; you need not pay or submit any collateral in exchange of money. Since there is no collateral; hence, these loans are very risky. However, sometimes they may be secured (very rarely) by the asset purchased or by the co-signor.
Personal Loan Eligibility Criteria
- Firstly, the minimum age of the applier applying for a loan must be at least 21 years for salaried, and it is 25 years for self-employed.
- Secondly, the maximum age is 60 years of the salaried person, and that for self-employed, the maximum age must be 65 years. The maximum age is as per the time of maturity.
- Furthermore, he/she must be a resident of India.
- Then, the minimum Credit Score of the applicant must be at least 700.
- In addition to that, the applicant must have a proper source of income.
- If the applicant is salaried, then his salary must come in his/her bank account.
- Moreover, the monthly salary for a salaried person should not be less than Rs.18000. If the salary of a person is less than 18000, then he or she is not applicable for taking a loan.
- In addition to it, for the self-employed applier, ITR of Rs. 2.5 Lacks should have been paid for the last three years.
Personal Loan Dela Interest Rates
The Personal Loan Dela Interest Rate is more as compared to other loans. It depends on various things like income of the person, amount of loan required, and the category of the company, etc. Usually, the basic rate of interest in the personal loan is 10.75% per annum.
Documentation Required for Taking Personal Loan Dela
The documentation process for taking this loan is quite easy and understandable. Since a personal loan is a very insecure loan, so the bank or NBFC needs to assure by checking all the documents of the applicant of the loan.
- Firstly, two colored passport size photographs are a must.
- Then, one proof of identity, which includes – Aadhar Card/ Voter Card/ Passport/ Driving License/ PAN Card.
- Furthermore, one residence proof which includes – Aadhar Card/ Voter Card/ PAN Card/ Passport/ Driving License/ Utility bills of last three months by the name of the applicant / Ration Card/ Rental Agreement.
- Also, one income proof which includes – salary slips and bank statement of last 6 months for salaried person.
- For self-employed people, income proof is ITR of the last 3 years, and it should be of Rs.2.5 lacks at least.
- However, it can change from time to time and in concern to different credit scores of appliers.
If the person wants to close the loan before the completion of the time period of his loan, then the process is known as pre-closure. The Personal Loan Dela has this feature of pre-closure. But the applicant will have to pay some amount as a penalty charge. But these charges are reasonable. These are around 0-2% depending on bank to bank.
Tenure of Personal Loan
The applicants have an option to choose the tenure, i.e., time period of the loan according to their own requirements. There is no such restriction in that. It can range from 6 months to 5 years, according to the applicant’s convenience.
Methods of Repayment of Loan amount
There are 3 methods of returning money:
- Term Loan
How to apply Online?
- Visit our website, bookmyloans.in.
- Fill the online application form with your necessary details in it.
- You will receive a call from loan experts within 5 minutes.
- The whole process is very easy, hassle-free, simple, and understandable.
Dela is a village in Mahesana District in the state of Gujarat, India. It is located 4 KM away from District head quarters Mehsana., and 57 KM away from State capital Gandhinagar. Dela has its Pin code as 384001, and postal head office of this place is Mahesana. Mahesana , Unjha, Vadnagar, Visnagar are nearby Cities to Dela. The primary language used here is Gujarati. Dela has a total population of 1912 people, and the number of houses is 366. The overall literacy rate is 76.8%, and the Female Literacy rate is 35.3%.