ESAF Small Finance Bank Personal Loan Features
|ESAF Small Finance Bank Personal Loan Eligibility Criteria||Details|
|ESAF Small Finance Bank Personal Loan Interest Rate||9.75% p.a.|
|ESAF Small Finance Bank Personal Loan Lowest EMI per lakh||Rs 2112|
|ESAF Small Finance Bank Personal Loan Tenure||12 to 60 months|
|ESAF Small Finance Bank Personal Loan Processing Fee||1% to 2% of Loan Amount|
|ESAF Small Finance Bank Personal Loan Prepayment Charges||Allowed after 12 Months (2 – 4 %)|
|ESAF Small Finance Bank Personal Loan Part Payment Charges||Allowed after 12 Months (2 – 4 %)|
|ESAF Small Finance Bank Personal Loan Min Loan Amt||₹ 50,000|
|ESAF Small Finance Bank Personal Loan Max Loan Amt||₹ 75 Lakh|
About ESAF Small Finance Bank Personal Loan
ESAF Small Finance Bank (formerly known ESAF Micro-finance) is an Indian small finance bank providing banking services and small loans to the under-banked. ESAF started its operations as an NGO in 1992 as an Evangelical Social Action Forum. To make your dreams come true avail the ESAF Small Finance Bank Personal Loan now.
What is ESAF Small Finance Bank Personal Loan ?
The unexpected health issues or funding the fees of your children, one feels the burden of all these bills. It is hard to do insurance of everything so; the ESAF Small Finance Bank Personal Loan is here to help you in these critical moments of your life. At low-interest rates taking the personal loan become easy.
Why ESAF Small Finance Bank Personal Loan ?
- First of all, the documentation criteria in the personal loan are straightforward
- In the second place, an applicant applying for a personal loan can know his/her ability in just 1 minute, across all branches.
- In addition, the interest rates for personal loans are highly competitive.
- Besides, the interest rates are affordable and flexible
- As well as, the processing fee is very low, and there are no hidden charges.
- Furthermore, the loan amount gets disbursed within two days.
- Moreover, there are special interest rates for women.
ESAF Small Finance Bank Personal Loan Documents
Simple and easy documentation for ESAF Small Finance Bank Personal Loan (though documentation varies from individual to individual). The document requirement is based on your profession, income and loan requirement.
- Identity proof: As a verification document, one should especially require one among the following: (Passport/Id card/voter card/driving license/Aadhar Card) any one of them.
- Residence proof: The documents required as proof of residence are: (Passport/Id card/voter card/driving license/Ration Card/Aadhar Card). And the applicant living in a rented apartment, then he has to submit his rental agreement, electricity bill on his name and the address of the owner.
- KYC formality: The applicant has to provide his PAN card which is an important document
- Salaried applicant: One has to submit his bank statements of the last six months and the salary slip of the last three months.
- Self-employed Applicant: The person applying for a personal loan should file ITR for the last three years, and the business should be registered.
- And if the applicant is self-employed, then they have to submit the ITR of the last three years and his business should be registered.
- Two colored passport size photos. (Applicant should not be wearing glasses)
ESAF Small Finance Bank Personal Loan Eligibility
Not everyone can apply for personal loan, an applicant have to follow some eligibility criteria based on which bank approves the applicant’s request. There are two categories of applicants:
There are various eligibility criteria for both applicants.
- The minimum required age of an applicant must be between 21 years to 60 years.
- A metropolitan city borrower should have a minimum income of Rs 18,000. And for non-metropolitan city, the minimum salary should be Rs 12,000.
- The work experience of the borrower should be of three years, and the salary should be received in their account only.
- A person applying for the personal loan should have a good credit history.
- The required age of a self-employed person should be of 25 years.
- The person should file ITR for the last three years, applying for a personal loan.
- An applicant must have a good credit score must, and there should not be any debt left due.
- The minimum amount should be of Rs 2.5 lakhs per annum at least.
- The business should be running for at least from last three years, if the applicant own a business.
There are multiple portals from where you can get better options of Personal Loan but LoanNow.in offers you a complete and easy guideline. LoanNow.in is an unbiased comparison platform for banking related products. Alongside influencing your procedure to free from documentation bothers, we also offer satisfactory assistance regarding banking. We understand the value of your needs and likewise recommend plans. We endeavor to make your money related arranging as simple and fair as possible.
* Interest rate can vary as per individual’s portfolio.
* All loans repayment period are over 6 months. No short term loans.
* We don’t charge the individual for the process.
* Credit at sole discretion of the Banks we have a tie-up with.