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Here are some of the eligibility criteria you need to satisfy to get your loan:
The list of documents for the salaried person:
The list of documents for self-employed:
You must consider the details of the different personal loans available to you. Here are the important points that you should consider:
The following table depicts the comparison of personal loan interest rate and processing fee for different banks
|Bank||Interest rate||Processing fee|
|SBI personal loan||12.50%||In the range of 2% to 3%|
|HDFC bank personal loan||11.25%||Min 0.99%, Max. 2.50% up to Rs.10,000|
|ICICI bank personal loan||10.99%||Starting from 0.99% up to 2.25%|
|Bajaj Finserv||11.99%||Starting from 1.50% up to 3%|
|Citibank||10.99%||Up to 0.5%|
|IDFC bank||11.50%||Starting from 0.75% up to 2%|
|Axis bank||11.25%||1.50% to 2.00%|
|Tata Capital||11.99%||A flat fee of Rs. 999, up to 2%|
|Fullerton India||17.25%||Up to 2.00%|
|IndusInd bank||10.99%||Min. 1% to max. 2.50%|
|Kotak Bank||10.99%||Up to 2.5%|
|RBL Bank||13.99%||Up to 2%|
|HDB Financial||13.99%||Up to 2% of the loan amount|
|Karur Vysya Bank||13.99%||0.004|
|Vijaya Bank||12.50%||0.25% Max. Rs. 10,000 + ST|
|Union Bank Of India||12.45%||0.5%, Min. Rs. 500|
|Syndicate Bank||13.25%||0.5%, Min. Rs. 500|
|Standard Chartered Bank||10.99%||0.01|
|Indian Overseas Bank||12.70%||Rs. 204 per lakh|
|Andhra Bank||11.40%||Case to case|
|Bank of Baroda||11.60%||2%, min. Rs. 250|
|Bank of Maharashtra||15.10%||1%. Min Rs. 1000|
|Corporation Bank||12.85%||1.5%, Min Rs. 500|
|Federal Bank||11.49%||0.5%, Min Rs. 500|
|Allahabad Bank||12.95%||1.06% min. Rs. 1068|
|Indian Bank||11.05%||0.5% min. Rs. 508|
|Yes Bank||10.75%||Starting at 0.99%, up to 2%|
Whether it is a wedding or you need to pay an emergency hospital bill, what is the value of a personal loan if you are unable to get it when you need it the most? We have a list of some trusted personal loan providers in Chennai from where you can get your personal loan quickly and conveniently. By completing simple documentation formalities, our listed loan providers will approve your loan within minutes. They explain complete terms and conditions for the personal loan and their rate of interest is also very reasonable. So, now you can get a personal loan instantly without any hassles. Call our listed personal loan providers in Chennai for further assistance. What is a personal loan?
It is an unsecured loan or an all-purpose loan that can cater to immediate cash requirements and can be sanctioned in less time. There is no restriction on the use of loan amount. These loans are offered by almost all banks and financial organizations across the country and you can get it quickly with minimum documentation.
A personal loan is a ‘small amount’ loan where the money is borrowed from the bank or any non-banking financial company (NBFC) to meet your personal needs and emergencies.
If wedding, vacation, home renovation or any other similar thing is in your mind then a personal loan is the best option to meet your needs. Financial crisis can strike anyone for different reasons irrespective of their financial standing. The personal loan will help in managing such cash strapped situations. If you are in need of cash for any reason, you can get a personal loan with quick processing, minimum documentation, and fast disbursal benefits. There is complete flexibility to use the loan amount as per your wish.
There are mainly two types of personal loans:
Personal loans are one of the different types of loans you can take from a bank or a financier such as an NBFC (Non-Banking Financial Corporation). Such loans are almost always used for general purposes such as emergencies, consolidation of debt, repayment of another loan, an unexpected expense, or to pay for a medium scale home improvement activity. These loans are more difficult to obtain owing to the fact that most lenders have strict parameters on the basis of which your eligibility for such a loan is decided. However, if you do qualify for such a loan, you may enjoy the benefits of low repayment interest rates, etc.
A personal loan is taken by individuals who are looking for financial help for medical expenditure, weddings, home renovation, travel, etc. They are generally sanctioned by a financial institution up to a limit of 40 lakhs. To avail a personal loan, you need not mortgage or show any assets. However, there are other eligibility criteria you need to satisfy before you apply for a personal loan.
To avail a personal loan, you need to have a minimum salary of 15,000. Apart from this, you need to provide documents for ID proof and salary proof. You also need to have a minimum total work experience of 2 years and should have lived in the city as a resident for a minimum of one year. Bank statements, income proof, age proof, residence proof are the other criteria required while applying for a loan.
Yes, they can. However, they must show their income proof via bank statements and income tax returns depending upon which they can claim a loan ranging from INR 50,000 to 40,00,000.
Anyone over the age of 21 with a minimum salary of 15,000 and a minimum work experience of 2 years is eligible to apply for a loan.
If you need a Personal Loan in Chennai, you require a good credit score and history and adequate salary to get your personal loan sanctioned. Other factors like years of employment, the company you work for, etc will determine the most important factors like amount, tenure and rate of interest. Some of the banks in Chennai give you the flexibility to pre-close the loan without any additional charges.
HDFC Bank, ICICI, Axis Bank, Kotak Bank, Mahindra bank, Bajaj Finserv, TATA Capital, Fullerton, etc. and all other major banks have their headquarters in Chennai. This helps you with access to more options.
All you need to do is to simply enter your personal and financial details above. You can check the loan calculator tool online it automatically checks for your loan eligibility based on the details you provided and as per the bank's norms and offers personalized loan offers as per your financial credentials. You can choose the best-suited plan and apply for a loan instantly with a click.
With a tenure period ranging between 12 to 48 months and in some cases it can be extended for up to 60 months (based on income & other expenses).
The loan amount limits are decided as per the applicant category. Salaried individuals can avail loans up to Rs.15 lakhs and self-employed individuals are eligible for loan up to Rs.40 lakhs on satisfying related criteria.
The various stages involved in availing personal loans are:
A Guarantor is an individual who guarantees to pay for your debt if you are defaulting on your loan obligation.
The following individuals will be eligible for a personal loan:
You can pay the loan in equal monthly installments (EMIs). It can be paid through post-dated cheques. You may also conveniently pay through ECS or a standing instruction to debit your bank account with the EMI amount.