A Personal Loan can be used for renovating your home, sending your daughter abroad for higher studies and many more. A Personal Loan is available for both salaried and self-employed individuals. Various commercial banks and NBFC’s provide this loan to needy borrowers. Credit history of the applicant plays an essential role in availing a Personal Loan in Madhapar.
Interest Rates of Personal Loan Madhapar
Various banks and NBFC’s provide personal loans at different rates. A Personal Loan is usually offered at 10.75% per annum by multiple banks. The interest rate changes according to the borrower’s need as higher the loan amount lesser will be the interest rates.
Personal Loan Madhapar Eligibility
Both self-employed and salaried persons can get a personal loan, but the criteria are different for both the customers.
For Salaried:-
First of all, the candidate should be a citizen of India/ Permanent Resident.
Secondly, the least age of the borrower should be 21 years.
Next, the age of the borrower should not be more than 60 years (at the completion of a loan.)
After that, the individual should be working in an organisation for at least the last three months.
Minimum salary of the customer should be Rs 20,000 per month.
The applicant should be getting his/her salary in the bank account.
For Self- Employed:-
First of all, the borrower should be an authorised citizen of India/ Permanent Resident.
Secondly, Minimum age of the customer should be 25 years.
Next, the applicant’s age should not be more than 65 years (at the completion of the loan.)
After that, the borrower should be carrying his/her business for three years.
Next, the customer should be filing his Income Tax Returns at least for three years with a minimum amount of Rs. 2.5 lakhs.
Tenure of Personal Loan Madhapar
Generally, the tenure of a Personal Loan is 1 – 5 years, but it depends on the customer and his paying capacity.
Foreclosure of Personal Loan Madhapar
The customer can avail a foreclosure facility if he is having enough funds and doesn’t want to pay the future Installments. To close the loan before the Tenure, the person can avail the foreclosure facility. Various banks and NBFC’s charge very nominal amount as foreclosure charges.
Documents for Personal Loan Madhapar
The borrower doesn’t require a lot of documents for availing a Personal Loan. Some basic documents are needed, and they are listed below:-
Identity Proof – Aadhaar card/ Passport/ Ration card/ Voter card/ Passport/ PAN card.
Residence Proof – Aadhaar card/ Ration card/ Voter card/ Passport/ rent agreement on the name of the customer/ Utility bills on the name of the customer / PAN card.
A salaried individual should have salary slips of last three months.
A self- the employed individual should have Income Tax Returns of the last three years.
Two latest coloured passport size photos.
How to Apply for Personal Loan Madhapar Online?
Firstly, the customer has to visit our website, i.e., www.lendingwale.com.
Secondly, a borrower should fill his/her necessary information.
Once you are done with formalities, our relationship manager will contact you.
Then, our relationship manager will compare and then select the best loan as per your requirement.
At last, once you have decided from where you want to get the loan; our relationship manager will help you in getting your loan disbursed.
Benefits of Personal Loan Madhapar
First of all, any collateral is not required.
Secondly, the process is simple.
Next, it requires minimum documentation.
The approval of the loan is quick.
After that, the person doesn’t need a guarantor.
Besides all these, the disbursal is speedy.
About Madhapar
Madhapar is a village located in the southwestern Kutch district in the state of Gujarat, India.
For more information, please visit our website, www.lendingwale.com.