Mizoram Rural Bank Personal Loan Features
|Mizoram Rural Bank Personal Loan Eligibility Criteria||Details|
|Mizoram Rural Bank Personal Loan Interest Rate||9.75% p.a.|
|Mizoram Rural Bank Personal Loan Lowest EMI per lakh||Rs 2112|
|Mizoram Rural Bank Personal Loan Tenure||12 to 60 months|
|Mizoram Rural Bank Personal Loan Processing Fee||1% to 2% of Loan Amount|
|Mizoram Rural Bank Personal Loan Prepayment Charges||Allowed after 12 Months (2 – 4 %)|
|Mizoram Rural Bank Personal Loan Part Payment Charges||Allowed after 12 Months (2 – 4 %)|
|Mizoram Rural Bank Personal Loan Min Loan Amt||₹ 50,000|
|Mizoram Rural Bank Personal Loan Max Loan Amt||₹ 75 Lakh|
About Mizoram Rural Bank Personal Loan
Mizoram Rural Bank is a Public sector bank, and its headquarters is in Aizawl, Mizoram, India, which provide various financial services and is founded on 27 September 1983. It is owned and managed by Government of India, Government of Mizoram, State Bank of India.
What is Personal Loan?
A Personal loan is an unsecured finance, that means it does not require any mortgage against the loan amount. You can get a Personal Loan based on your eligibility like monthly income, banking history, credit score, employment profile, etc. and you can use the funds for any purpose.
Mizoram Rural Bank Personal Loan Interest Rate
The interest rates on Mizoram Rural Bank Personal Loan depends upon the eligibility of a person and it starts from 10.75% and the processing fee is up to 2% of the loan amount.
More About: Interest Rates on Personal Loan
Why should one take Mizoram Rural Bank Personal Loan?
- First of all, the charges for processing fees are less or very little.
- Secondly, they require less or simple documentation.
- Next, the process of approval is quick and hassle-free.
- And, there is no cosigner required.
- Also, it provides an affordable rate of interest.
- Lastly, the loan given by them is Collateral free.
Documents required for Mizoram Rural Bank Personal Loan
- Identity Proof: Voters ID card, Passport, Driving license, Aadhaar card.
- Address Proof: Ration Card, Passport, Electricity Bill, Rental agreement, Trade License, and Sales Tax Certificate.
- Banks Statement: Statement of the previous six months.
- Latest ITR: Income Tax Return with computation of income, Balance sheet, and Profit& Loss for the last two years certified by a Chartered Accountant.
- Proof of Continuation : Trade License, Sales-tax Certificate.
Mizoram Rural Bank Personal Loan Eligibility
- First of all, the age of the applicant should be 21-60 years.
- And, their current work experience is a minimum of 1 month
and a maximum of two years
- Besides that, the minimum salary should be Rs. 12,000 to 18,000 per month.
Mizoram Rural Bank Personal Loan Purpose
- First of all, people get a personal loan for wedding purposes.
- Also, a personal loan is beneficial for higher education too.
- Some people get a personal loan for home renovation also.
- Besides, people get a personal loan to settle their existing debts.
Click here to know about- EMI Calculator
Mizoram Rural Bank Personal Loan Advantages
- Firstly, interest rates are quite affordable to the borrower.
- Thus, the person can quickly repay their loan amount.
- Secondly, there is no requirement for any collateral.
- Furthermore, both the salaried and self-employed applicant can take the benefits from this loan.
- Moreover, the principal amount entirely depends on the borrower’s eligibility and documentation.
- If the borrower credit score is good, they can get the loan amount without facing any problem.
How one applies for Mizoram Rural Bank Personal Loan?
It takes minimal effort to apply for a Mizoram Rural Bank Personal Loan; all you need is to follow the simple steps, and Now, once you are on our site, you need to fill your necessary details along with your mobile number.
- First, you need to visit our website www.loannow.in
- Please, it is essential that the applicant provide their correct contact details.
- Now once you fill the form, all the work is done.
- Then, our relationship manager will call you within 30 minutes and provide you the best offers and deals.
- Also, you don’t need to worry about paying anything as we provide free expertise to you.