Personal loan Adamwal

Personal Loan at 10.75% p.a

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Personal loan Adamwal

A personal loan is a loan that provides funds that borrowers can use for any purpose, unlike other loans like an auto loan or a car loan, which are reserved exclusively for the purchase of a particular property which is then used as collateral for the loan. Personal loans usually don’t require any insurance, so they are often given for lower amounts than other types of installment loans.

Personal loan Adamwal eligibility criteria

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

Salaried applicants:

Firstly, age should be between 21-60 years.

Minimum income should be INR 18,000.

Applicant should have work experience of at least three months. 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 of the applicant should be between 25-65 years.

Should have an ITR of at least three years.

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

Again, CIBIL score (credit history) should be good.

The Business should be running from past three years.

Documents required for Personal Loan Adamwal

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 Adamwal

The interest rates of the Personal Loan varies depending on the various factors like the income of the applicant, the amount of loan required, and the category of the company. Generally, the basic rate of interest in the personal loan is 10.75% per annum. However, it can change from time to time.

Pre-closure Charges

The Personal Loan comes with the property of pre-closure. Pre-closure means closing the loan before the tenure period. There are some penalty charges, but these penalty charges are nominal, ranging from 0-2%.

Tenure of Personal Loan Adamwal

The applicants can 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 Adamwal

Adamwal is a small village in the district of Hoshiarpur in Punjab state. Adamwal is located at a distance of 4.4 KM from its district head quarter Hoshiarpur. Most of the people communicate in their native language that is, Punjabi. To apply for a Personal Loan online in Adamwal, visit www.loannow.in