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Personal Loan Nagercoil

Personal Loan @ 10.50%

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All About Personal Loan Nagercoil:

What is Personal Loan?

Personal Loan is an unsecured loan taken by any eligible applicant from a banking or non-banking financial company to meet their personal financial needs. Get The Best Rate on a Personal Loan in Nagercoil.

It will help you to meet your current financial problems. You don’t need to pledge any security or collateral while applying for a personal loan.

PL Eligibility

You are Eligible if:

You are a Salaried professional and draw a monthly salary of Rs. 40,000 or more in:

  • Delhi/NCR
  • Mumbai
  • Hyderabad
  • Bangalore and Chennai
  • Thane


A monthly net salary of Rs. 35,000 or more in:

  • Ahmedabad
  • Pune
  • Kolkata


In Other cities, you are drawing a monthly net salary of Rs. 30,000 or more…

 Documentation of Personal Loan in Nagercoil

  • Firstly, the applicant must carry 2 colored photographs in passport size.
  • After that, To get a personal loan he must have some documents for identity proof, Residential proof and Income proof.
  • Furthermore, For identity Proof, one can have a PAN card or Aadhar card or Voter Id card or Driving license or Passport. Anyone of these documents can be presented in the form of Identity proof.
  • Also, For Residential Proof, again, he can have a PAN card or Aadhar card or Voter Id card or Driving license or Passport.
  • In addition, For Income Proof, you must have your salary slip of last 6 months or the bank statement. If you are self-employed, then you need to have income tax return statement of the previous 3 years.

Interest Rates, Charges & Tenure

Interest Rates of Personal Loan in Nagercoil

Personal loan interest rates of Nagercoil upon certain factors like income of the applicant, the amount of loan applied or the company. Usually, the interest rate of personal loan is 10.75% per annum. However, it may vary from time to time.

Pre-closure Charges

When someone wants to close the loan before the completion of tenure of a loan, then this is called pre-closure. Personal Loans facilitate Pre-closure, but it includes some Nagercoilalty charges. Generally, these charges are 0-2%.

Tenure of Personal Loan

The applicant can choose the tenure of their loan as per their convenience. Usually, it can be from 1 year to 5 years.

Methods of Repayment

  • Repayment of personal loan can be made in 3 ways:
  • EMI- Under this, the bank makes the installment of a part of the interest rate and principal after which the customer need to pay it per month.
  • Term Loan- The customer pays to the bank per month interest rate, and in the end he will pay the principal amount as well.
  • Overdraft- OD or Overdraft is a product which benefits the customer by allowing them to pay only for the used amount for that particular time. There is no interest charged on that loan amount.


Personal Loan Nagercoil

Features of the Personal Loan in Nagercoil

  • Personal Loans are easy to apply. The application process can be done offline and online as well. However, applying online is more comfortable.
  • The most desirable thing about a personal loan is that it does not require any collateral. The applicant gets the loan on the basis of their salary or income.
  • Moreover, the documentation process of personal loan is very simple. Only the basic documents are required.
  • Also, the tenure of a personal loan is very flexible. One can freely choose the period from 1-5 years.
  • Moreover, there are no restrictions upon the use of loan amount.

Where can the Personal Loan amount be used?

  • A personal loan is a multi-purpose loan. But still, reasons are to be specified to get the loan.
  • Wedding- One can get the personal loan for wedding purposes. It normally involves large amounts.
  • Education- To get the excellent education you require money which you can get with the help of a personal loan.
  • Vacations-Vacations can be exNagercoilsive, but this scenario can be solved with the help of a personal loan.
  • Medical- In situations like medical problems, there is a need for instant money. In this case, a personal loan can assist you with financial aid.
  • Besides these, a personal loan can be applied and used for several purposes as per the will of the applicant.

How to Apply

How to apply through Bookmyloans?

  • First of all, visit our website
  • Then, fill the Personal Loan Application Form.
  • Lastly, you can get further details from our representatives.