PERSONAL LOAN POLICIES

About Personal Loan

"In the old days, when you needed cash, you had to go to a moneylender, who would lend money at high interest rates. Or you went to a broker and used some jewellery as collateral to get some funds. Today, you don’t have to relay on these informal and risky channels anymore . All you need to do call us and we will have you to assist to get a personal loan. A personal loan is a type of unsecured loan and helps you meet your current financial needs. You don’t usually need to pledge any security or collateral while availing a personal loan and your lender provides you with the flexibility to use the funds as per your need. Personal loans are taken into relatively short to medium terms. It is a type of unsecured loan which can be availed on the basis of various criteria. Level of income, employment history, credit score and scope for repayment are those specific criteria"


Why Personal Loan?

In every individual's life there comes a moment where you urgently need a specific amount of money which can't be covered by your savings. The amount can be needed for any personal reason like home renovation or vehicle repair, to pay unexpected medical bills, for wedding, travel, credit card outstanding balance transfer etc. Here the option of getting this desired amount via personal loan comes extremely handy.


Profile Accepted (Income wise)

1. Both Government (State or central government) & Private salaried person


Note:

  1. Cash salaried person is not eligible for personal loan.
  2. Minimum Rs. 20000/- salary should be credited in bank account.
  3. Rented person in Jaipur is eligible for this loan.
  4. Government salaried client should have completed his probation period and his fixation has been done by government.
  5. For private salaried person job stability of minimum 2 years is required in current company or ealrlier company together.
  6. Minimum amount per case should be Rs. 1 Lakh
S.No. Particulars Description
1. Rate Of Interest 10.99 % - 19.00%
2. Guarantor requirement Depends on Bank reuirements
3. Fixed-Obligation-to-Income ratio (FOIR) 50 % to 75 %
4. Loan Tenure 1 years to 5 years
5. Minimum Loan Amount 1 Lakhs

List Of Documents

- The list of required documents differs from lender to lender. But we have given a generic list of required documents below:
S.No. Particulars Description
1. ID Proof Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
2. Address Proof Aadhar Card, Bank statement, Rent Agreement, telephone/electricity/water/credit card bill or Property tax.
3. PhotoGraph Passport-size photographs of Applicant.
4. Banking Bank Statement of Last 6 Months
5. Income Proof 3 Months salary slip
6. Current running loan details Current Running loan Sanction Letter & Repayment Schedule
7. Experience/ Relieving letter of earlier company Required if job vintage in current company is less than 2 years