Capital First Personal Loan
Capital First Personal Loan allows customers to meet their different monetary requirements like medical emergency, travel, debt consolidation, etc. Furthermore, The Bank promises easy verification and fast grants with which customers will be able to avail a lot of benefits making their life easier by better personal finance management.
Also, anyone looking for a fast and straightforward disbursal of personal Loan may apply with Capital First by checking in all the documentation and suitable requirements.
Why opt for Capital First Personal Loan
In the first place, Capital First grants you personal Loan starting at Rs.1 lac to Rs.25 lac depending on the client’s financial power, credit score, and professional background.
Furthermore, customers can benefit the personal Loan without much tension, and they can have their request permitted inside four working hours.
Comparatively, Capital First requires very less documentation for the approval of the Loan, and the loan process is very speedy.
As a matter of fact no Guarantor or Cosigner is required to avail the Loan.
Eligibility for Capital First Personal Loan
Salaried
Profession: The person should be working in a government, private or MNC Company.
Eligible Age: The Minimum age to apply for a Personal Loan is 23 years, and a maximum of 58 years.
Minimum income: The person should be getting a minimum of 15000p.m. Salary.
Work Experience: The applicant should have at least three years of working experience, and more than three months of experience in the current Company.
CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.
Self-Employed
Profession:Likewise the Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.
Eligible Age: The minimum age to apply for a personal loan is 28 years, and the maximum is 68 years.
Minimum income: The minimum revenue from business or the profession should be not less than 25,000p.m.
Work Experience: The person should have at least two years of his professional experience.
In addition, CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.
The customer must be a citizen of India.
The borrower must possess an updated Aadhaar ID.
Moreover, The customer should hold an active bank account that has an internet banking facility.
Capital First Personal Loan Interest rate
Due principal amount reduces, as well as the interest amount that is payable on your Loan also reduces with it.
Profile of Customers
Tenure of the Loan
Geography of residence
Nature of Collateral (If provided)
Prior/Existing relationship with the Bank.
Documents Required
Salaried
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Last six months Bank statement & 3 months’ salary slip
Latest form 16
PAN card
Self-Employed
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Latest six months of Bank statement.
Furthermore, latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.
Tenure
Of course, Tenure is the period for which you get the Loan; here it is for one to five years.
About Capital First Bank
Capital First Limited, listed in NSE and BSE, is a leading Indian financial institution, operating in providing credit finance to MSMEs and Consumers in India. Between 2008 to 2010, the Company was mainly in the business of wholesale Financing, asset management, and had JVs in Foreign Exchange and retail equity Broking and not much in lending finance. Between 2010 to 2012, Mr. Vaidyanathan bought a stake in the Company, changed the business model to retail from wholesale, and then executed Management Buy-out of the Company by getting equity backing from the famous Warburg Pincus at a valuation of Rs. 810 Crores and transformed the name of the Company to the current name-Capital First.
FAQs(Frequently Asked Questions)
Q1. Why should I take a personal loan from Capital First?
Ans: Capital First provides a Personal Loan at an affordable rate of interest with the low EMI options. Also, the Bank processes the Loan very quickly without much difficulty.
Q 2. What interest is charged by Capital First on a personal loan?
Ans: Personal loan interest rates usually start at 12%. However, it fluctuates at times. Besides that, loan also depends on the profile of the client.
Q 4. What is the tenure of Personal Loan?
Ans: The tenure of Personal Loan is 1-5 years.
Q 5. What amount Personal Loan amount I can borrow from Capital First?
Ans: The applicant can get a loan amount of Rs. 1-25 lacs at maximum for five years, depending on the professional background.
Q 6. How much does the Capital First charge a processing fee on a personal loan?
Ans: The processing fee charged is 0.
Q 7. Is age an eligibility criteria in getting a personal loan?
Ans: Yes, age is a factor to apply for a personal loan. The minimum age of the applicant should be 19years.
Q 8. Do prepayment charges on a personal loan from Capital First apply?
Ans: Yes, the pre-closure charges are from 2% to 4% depending on the time of the Loan.
Q9. How can I get a personal loan with low CIBIL score?
Ans: You cannot get a personal loan with low CIBIL score; however, you can go for a gold loan.