A Personal Loan is an unsecured form of credit provided by a bank to an individual for various personal needs. Unlike a car or home loan, it is "unsecured," meaning you do not have to pledge any asset like gold or property as collateral. The loan is granted based on the borrower’s credit history, income level, and employment status, and the funds can be used for any legal purpose without restriction.
Applicant details
- Applicants last two years Income tax Return / Payslip of last 3 months / Notarized income certificate for joint family.
- 3 Photographs of Applicant
- Address proof -electric bill /telephone bill /Aadhar card (any one) As per KYC norms.
- Photo proof -Pan card / Voter card / Driving license (Any one) As per KYC norms
- Bank Statement
- Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
- Applicant should have Savings/ current Bank account with the bank.
Guarantor Details:
- Photograph-two copies
- Last tax bill
- Last 2 years income tax return copy
- Address proof-electric bill /telephone bill- land line (any one)As per KYC norms
- Photo proof-Pan card / Voter card / Driving license/Aadhar card (Any one)As per KYC norms
Conditions:
- Loan amount is to be repaid with interest within 36 monthly instalments.
- Applicant has to take share of bank @2.5% of the limit.
- Processing charges of 0.25% will be levied on saction.
