Personal Loan is an unsecured loan available to Salaried and in the name of Partner of the Partnership Firm, Director of the Private Limited / Public Limited Company for personal needs. You can raise funds without any security /collateral with fast approval and minimum documentation. The Personal Loan is just what you need to address your diverse financial needs – be it for House renovation, Holidays, Purchase of consumer durables, Education, Marriage, or any other personal emergency.
You can now look forward to getting the financial support you need, without any hassles.
This Loan is issued and supported only by the borrower's creditworthiness, rather than by a type of collateral.
| Purpose | Documents |
|---|---|
| Proof of Identity | PAN Card, Valid Passport, Voter ID Card, Aadhar Card |
| Proof of both residence | Valid Passport, Voter ID Card, Aadhar Card, Latest Utility Bill like Electricity / Telephone Bill |
| Proof of income |
|
| Other documents |
|
All documents to be self attested. The above list is indicative in nature and additional documents can be asked for
These loans range from Rs. 3 Lacs to 20 Lacs. The Loan Amount is based on your Income and Repayment capacity.
What are the loan tenure options?On submission of your entire documents in accordance with the Bank requirements it takes 3 Working Days. All loan approvals are at the discretion of the Bank.
To obtain the loans there is no need to provide any security or collateral.
Part Pre Payment is not allowed in Personal Loan
Prepayments are not allowed for a period of 6 months from the date of your first EMI. Before processing for foreclosure, all outstanding dues must be cleared. So we request you to first check for and clear any remaining amount that may be payable towards your Loan by requesting a foreclosure statement.
You can choose to repay the loan anytime after 6 months of availing the loan at a prepayment penalty of 4% to 5% on the principal outstanding of your Loan.
• Bank statement reflecting the clearance of the last installment
• Request Letter signed by the loan applicant
• Pre-payment Statement
• PAN Card (if the mode of payment is cash and the amount is more than Rs.50,000)
• Payment can be made through cash, cheque or demand draft
