Personal loan Bhuntar
A personal loan is one type of loan that can be availed for any purpose including but not limited to a medical emergency, organizing a wedding, a vacation plan, renovating a house, etc. from a bank or an NBFC (Non-Banking Financial Company). There are absolutely no restrictions on how the money can be used, which makes it easy for a person to utilize it for his/her personal needs, hence leading to the term personal loan. There is no requirement of collateral in personal loan.
Personal loan Bhuntar eligibility criteria
There are two categories of applicants. Both groups have different eligibility criteria
Firstly, the minimum age for applying for a loan is 21 years, and the maximum age is 60 years.
Minimum income should be INR 18,000.
Above all, the applicant must be a resident of India.
Work experience of at least three months is required. In addition to this, the salary should come in a bank account only.
Moreover, it is essential that the CIBIL score (credit history) should be good.
In this category, the minimum age should be 25 years, and the maximum age is 65 years.
The applicant should have an ITR of at least three years.
Furthermore, minimum ITR should be of 2.5 lacs per annum.
In this also, the applicant must be a resident of India.
Again, a good CIBIL score (credit history) is required.
The business should be running from the past three years.
Documents required for Personal Loan Bhuntar
The documentation process is hassle-free in a Personal Loan. Though, Personal Loan is a highly unsecured loan so, the bank needs to be guaranteed by checking the following documents of the applicant. The standard documents required by most banks and NBFCs for individuals requesting a personal loan include:
First of all, you need one Identity proof. It can be any of the mentioned Aadhar Card/Voter ID Card/ PAN Card/ Passport/ Driving License.
After that, two colored passport sized photographs are required.
Furthermore, you need one residence proof. It can be Aadhar Card/Voter ID Card/ PAN Card/ Passport/ Driving License/ Ration Card/ Rental Agreement/ Utility bills of the last three months by the name of the applicant.
One proof of income is required. For a salaried person, it can be salary slips for the last three months. Also, the bank statement of last six months is needed to get a Personal Loan.
For a self-employed applicant, the income proof is ITR of the last three years, and it should be of at least 2.5 Lacs.
Interest rates personal loan Bhuntar
The applicant needs to be aware of the general personal loan interest rates before he/she fill their application. The interest rate of the Personal Loan depends on the income of the applicant, the amount of loan required, the category of the company, etc. Generally, the basic rate of interest in the personal loan is 10.75% per annum. However, it can vary from time to time.
Pre-closure is closing the loan before the completion of the tenure of the loan. The Personal Loan offers the facility of pre-closure. But, there are some nominal penalty charges. They generally range from 0-2%.
Tenure of Personal Loan Bhuntar
The applicants can decide the tenure of the loan according to their convenience. It can range from six months to five years, depending on their requirement.
Methods of Repayment
There are various ways of repayment of the Personal Loan.
Flat interest rates
Reducing balance interest rates
How to apply?
Fill the online application form with the required fields.
Finally, you will get a call from the loan experts within 5 minutes.
The process is very easy, simple, and hassle-free.
Bhuntar is a small town in Kullu district of Himachal Pradesh. To apply for a Personal Loan online in Bhuntar, visit www.loannow.in. Anyone who matches the eligibility can easily get a personal loan.