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Ujjivan Small Finance Bank Personal Loan

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    Prices of goods and services are increasing day by day and it won’t get down, and it you think you will buy your favorite good later when the prices will get down then you are living in  world of myth. So get into reality and get an Ujjivan Small Finance Bank personal Loan and does what you want to do otherwise the list will become too long.

    Personal loan by this bank is available on attractive rates of interest for the high loan amount, which is useful for most purposes. One of the unique features of this bank is that it has some distinct feature that every bank in India does not provide.

    Why go for Ujjivan Small Finance Bank Personal Loan

    • The attractive interest rate on different types of personal loan.
    • Fast approval of the loan.
    • No major documentation required for the sanction of loan.
    • No change in the interest rate during the tenure of the loan.
    • Loan amount up to 40 Lakhs.

    Eligibility for Ujjivan Small Finance Bank 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 21 years, and the maximum is 60 years.

    Minimum income: The person should be getting a minimum of 18,000p.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: 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 23 years, and the maximum is 65 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 three years of his professional experience.

    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.

    Ujjivan Small Finance Bank Personal Loan Interest rate

    The interest rate may vary from 10.75% to 15.60% per annum. The rate of interest offered by the Ujjivan Small Finance Bank is as per the prevailing market trends, yet competitive compared to most of the market players. The interest rates are indicative only, and the final rate offered would vary and calculated based on below-mentioned points.

    •    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.
    • Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.

    Tenure

    It is time period for which the loan is taken. Generally it is 1 to 5 years.

    How to apply for Ujjivan Small Finance Bank Personal Loan?

    • Our Relationship Manager will contact you as soon as possible and help you get your loan approved.

    About Ujjivan Small Finance Bank

    Ujjivan Small Finance Bank Limited is a bank licensed under Section 22 (1) of the Banking Regulation Act, 1949 to carry out small finance bank business in India. The holding company is Ujjivan Financial Services Limited. The bank commenced operations on 1 February 2017. Ujjivan, Small Finance Bank, received Scheduled Bank status from the Reserve Bank of India in August 2017.

    FAQs (Frequently Asked Questions)

    Q1. Why should I take a personal loan from Ujjivan Small Finance Bank?

    Ans: Ujjivan Small Finance Bank provides a Personal Loan at a shallow interest rate with the low EMI options. Furthermore, the bank processes the Loan very fast and without any hassle.

    Q 2. What interest is charged by Ujjivan Small Finance Bank on a personal loan?

    Ans: Personal loan interest rates generally start from 10.75%. However, it changes from time. Besides that, it also depends on the profile of the applicant.

    Q 3. What is the tenure of Personal Loan?

    Ans: The loan tenure of the Personal Loan is One year to Five years.

    Q 4. How much Personal Loan amount I can borrow from Ujjivan Small Finance Bank?

    Ans: The applicant can get a loan amount of Rs. One Lakh to a maximum amount of Rs.40 Lakhs, depending on the professional background.

    Q 5. How much does the Ujjivan Small Finance Bank charge a processing fee on a personal loan?

    Ans: The processing fee charged is about 1%.

    Q 6. Is age an eligibility factor 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 21 years, and it can be maximum 60years.

    Q 7. Are there any prepayment charges on a personal loan from Ujjivan Small Finance Bank?

    Ans: Yes, the pre-closure charges are 4% of the outstanding amount.

    Q8. 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.

    Q9. How to check Ujjivan Small Finance Bank Personal Loan EMI?

    Ans: You can check your monthly EMI by our EMI calculator.