personal loan

Know The Purpose To Choose Personal Loan Benefits

It’s an unsecured loan that can take a salaried or self-employed both as per requirements. Whenever you need extra fund for any purpose should apply for a personal loan. Nowadays everything is going to easy through online process.

Whether you are salaried or self-employed can get instant financial help for varied reasons. When it comes to applying for a loan, should drop the online application or either can visit the nearest branch. For you one of the biggest advantages it’s unsecured that’s why, no need to give security.

As per the name you can get extra fund for many purposes such as marriage, child education, travel, medical expenses, home renovation, holiday, etc. Also, they ask for minimal documents, which is the best part. Let’s find out a few points.

  • Being an unsecured loan, it will come to you without any hassle. An individual doesn’t need to pay any security to the bank.
  • They give instant approval because without much of legal formalities provide approval.
  • When you need to submit KYC, should deposit minimal information.
  • You would be glad that personal loan comes to your way with an attractive interest rate.
  • You can use it for multi purposes

Get The Conditions Of The Personal Loan

The personal loan can apply both a self-employed or a salaried. With this, you can also check eligibility criteria, KYC, and income factor. If you are fit on certain criteria, then nobody will stop you.

Eligibility Factor For A Salaried

  • Minimum age should be  21 years
  • Maximum age should be 58 years
  • Minimum work experience should be one year
  • Minimum income should be Rs 20,000 monthly

KYC For A Salaried

  • Loan application form
  • Two passport size photograph
  • Salary slip for last three months
  • Identity proof
  • Address proof
  • Last three months bank statement
  • Employment proof
  • And signature proof

Eligibility Factor For A Self-Employed

  • Minimum age should be 24 years
  • Maximum age should be 64 years
  • Minimum work experience should be three years
  • Minimum income should be Rs 1 lakh annual

KYC Factor For A Self-Employed

  • Loan application form
  • Two passport size photograph
  • Identity proof
  • Office residence proof
  • Income proof
  • Last six months bank statement
  • Employment proof
  • And signature proof

It’s general needs you should fit on this criteria then easily apply for an application as an online.

Apply For An Online

  • Go to the official site
  • Fill personal-professional information
  • Upload KYC with a recent passport size photograph
  • Share registered email ID or mobile number
  • And the purpose of the loan

List Of Top Bank’s Providing Personal Loan Details

YES Bank Interest Rate

  • Starting at 10.75%
  • Up to Rs 20 lakhs

HDFC Bank Interest Rate

  • 11.25% to 21.25%
  • For salaried up to Rs 25 lakhs and for self-employed up to Rs 15 lakhs

ICICI Bank Interest Rate

  • 10.99% to 18.49%
  • Up to Rs 40 lakhs

SBI Interest Rate

  • 10.65% to 15.05%
  • Up to Rs 15 lakhs

They can also provide personal loan EMI calculator service. So that, you can use the tool and pay the exact amount to the lender every month. This tool is free to use and can use it until not satisfied with the report.

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