Personal Loan is an unsecured loan for personal use which does not require any security or collateral. Personal loan can be availed for any purpose, be it a wedding expenditure, a holiday or purchasing consumer durables, medical expenses, buying jewelry etc.
Eligibility
Salaried Income Holders
- Employees of government and private sectors would be eligible for acquiring home loan.
- Applicants should be above 22 years of age at the time of loan commencement and up to the age of 60.
- Minimum salary should be Rs.25,000/-( it may vary from bank to bank again).
Professional Income Holders
- Professionals like doctors, engineers, architects, chartered accountants(CA) cost accountants, company secretary(CS) etc can apply
- Applicants above 24 years of age at the time of loan commencement and up to 65 years.
Business Income Holders
- Any business holder(proprietorship firm , partnership firm and private ltd company) who is filing income tax returns constantly can apply
- Applicants should be above 25 years of age at the time of loan commencement and up to 65 years.
ADVANTAGE OF PERSONAL LOAN
- Loans for doctors, chartered accountants(CA), engineers, architects, company secretaries(CS) ETC
- Individuals can avail loan from Rs. 1 lakh to Rs. 25 lakhs as per the customer requirement.
- Flexibility in repayment of loan from 24 to 60 months.
- No security/guarantor/collateral required.
- Easy EMIs facility
- Eligible for Balance Transfer loan(BT loan)