Personal loan Adampur

Personal Loan at 10.75% p.a

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Personal loan Adampur

Personal loan establishes consumer credit that is granted for personal use. It is usually unsecured and based on the applicant’s honesty and ability to pay.  It does not require any collateral and security, and minimal documentation is required. There is no end use restriction in the Personal Loan. Furthermore, the personal loan is available in every city of India.

Personal loan Adampur eligibility criteria

There are two categories of applicants. Both categories have different eligibility criteria

Salaried

Self- employed

Salaried applicants:

Firstly, age should be between 21-60 years.

Nationality should be Indian.

Minimum income for metropolitan city residents is INR 18,000.

Work experience of at least three months is required. In addition to this, salary should come in bank account only.

Moreover, the CIBIL score (credit history) should be good.

Self-employed applicants:

In this category, age should be between 25-65 years.

Indian citizenship is required.

Should have ITR of at least three years.

Furthermore, minimum ITR should be of 2.5 lacs per annum.

Again, good CIBIL score (credit history) is required.

The Business should be running from past three years.

 

Documents required for Personal Loan

The documentation process is very easy in a Personal Loan. Though Personal Loan is a highly unsecured loan so, the bank needs to be assured by checking the following documents of the customer.

First of all, two colored passport sized photographs are required.

After that, one proof of Identity is required. It can be Aadhar Card/Voter ID Card/ PAN Card/ Passport/ Driving License.

Furthermore, one residence proof is required. It can be Aadhar Card/Voter ID Card/ PAN Card/ Passport/ Driving License/ Ration Card/ Rental Agreement/ Utility bills of last three months by the name of the applicant.

One proof of income is must in a Personal Loan. For a salaried person, it can be salary slips for the last three months. Also, the bank statement of last 6 months is also required to get a Personal Loan.

For a self-employed applicant, the income proof is ITR of last three years and it should be of at least 2.5 Lacs.

 

Interest rates personal loan Adampur

The rates of interest of the Personal Loan depends on the various factors like the income of the applicant, the amount of loan required, the category of the company, the credit history etc. The basic interest rate in the personal loan is 10.75% per annum. However, it is liable to change from time to time.

Pre-closure Charges

If someone wants to close the loan before the completion of the tenure of the loan, then it is known as pre-closure. The Personal Loan comes with the property of pre-closure. But, there are some penalty charges, and these penalty charges are nominal. They generally range from 0-2%.

Tenure of Personal Loan Adampur

The applicants are free to choose the tenure of the loan according to their convenience and requirement. It can be as short as six months and as long as a period of five years.

Methods of Repayment

There are three ways of repayment of the Personal Loan

Term Loan

EMI

OD

 

How to apply?

Visit www.loannow.in.

Fill the online application form with the required fields.

You will get a call from the loan experts within 5 minutes.

The process is very easy, simple and hassle-free.

 

About Adampur

Adampur is a municipality in Jalandhar district of Punjab state. It is located at 24 km from Jalandhar district and 26 km from Hoshiarpur. It is the second largest air-base of India. To apply for a Personal Loan online in Adampur, visit www.loannow.in.