Personal loans are any purpose loans which are given without any collateral or guarantor. This is a very unique loan product wherein the borrower is at his/her discretion to do whatever they need. In other words, unlike a car loan or a housing loan, a personal loan can be used by the borrower for any of his/ her personal needs. There is no restriction for the usage of such loans though it should not be used for speculative purposes and investment in tax saving instruments. The loan can be repaid like all other loans through the equated monthly instalment -EMI (Use EMI Calculator) process where a fixed amount is paid each month.
Personal loans are currently offered from Rs 50,000 to Rs 50 Lakhs and are typically repaid in tenures ranging from 1 to 5 years. Higher Loan Amount + Least Loan Tenure = Low Interest Amount
1. Photograph
2. Identity proof
3. Address proof
4. Income proof
5. Bank Statements
6. Continuity Proof
7. Qualification proof( applicable only for Self Employed Professionals)
1. Copy of PAN Card
2. Copy of Passport
3. Copy of Driving Licence
4. Copy of Government ID card
5. Copy of Voter ID card
6. Copy of Company ID Card (for select Corporates)
For Self-employed Individuals :
Speak to a Banker specialist at (+91) - 75511 - 11108