Personal Loan Ratia

Personal Loan at 10.75% p.a

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A Personal Loan Ratia is that loan which helps us to fulfill our needs and desires. It can be used for various purposes. It can also be used to consolidate several other loans into one. The interest rate for a personal loan is a bit high as compared to different types of loans. It is because there is no collateral provided by the applicant to the lender in this case.

Personal Loan Ratia Eligibility Criteria                                                     

  • Firstly, minimum age of the applier applying for a loan must be at least 21 years for salaried, and the same is 25 years for self-employed.
  • After that, 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.
  • Also, the applicant must have a proper source of income.
  • Then, if the applicant is salaried, then his salary must come in his/her bank account.
  • In addition to it, 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.
  • Meanwhile, for the self-employed applier, ITR of Rs. 2.5 Lacks should have been paid for the last three years.
  • Likewise, he/she must be a resident of India.
  • In the end, the minimum Credit Score of the applicant must be at least 700.

 

Personal Loan Ratia Interest Rates

The Personal Loan 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. However, it can change from time to time and in concern to different credit scores of the applicants.

 

Documentation Required for Taking Personal Loan Ratia

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.

  • First of all, two colored passport size photographs are a must.
  • Also, one proof of identity, which includes – Aadhar Card/ Voter Card/ Passport/ Driving License/ PAN Card.
  • Meanwhile, 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.
  • Besides that, one income proof which includes – salary slips and bank statement of last 6 months for salaried person.
  • In the addition to that, for self-employed people, income proof is ITR of the last 3 years, and it should be of Rs.2.5 lacks at least.

 

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.

 

Pre-Closure Charges

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 Ratia 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 and region to region.

 

Methods of Repayment of Loan amount

There are 3 methods of returning money:

  • EMI
  • Term Loan
  • OD

 

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.

 

About Ratia

Ratia is a town in Fatehabad District in the state of Haryana, India. It belongs to the Hisar Division. It is located 20 KM away from District head quarters Fatehabad. Ratia has its Pin code as 125051, and the postal head office of the area is Rattia. Fatehabad, Tohana, Budhlada are some of the nearby cities to Ratia. Punjabi is the regional language used here. The town is a Tehsil head quarter.

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