When you need money for your family and personal emergencies you might decide to go for a personal loan. Personal loans are an easy way of getting funding because they require very fewer documents and are processed faster than any other loan.
How to Apply For Personal Loan?
Listed below are the ways you can apply for a personal loan online
Personal Loan Application Process Online: If the personal loan applicant has a relationship with the financial lender, an individual can apply for a personal loan via his/her net banking account. But who doesn’t have this facility, they can apply for a personal loan online by following the steps mentioned below: Log in to the official website of the financial institution.
Under the loan section, choose personal loans.
Click ‘apply now’.
Enter the details in the application form and click submit.
The bank will look to your eligibility and then you have to submit the required KYC documents and income documents.
If the applicant is eligible, the bank will pay the loan amount to the bank account of the applicant.
Personal loan application offline:
Listed below is the process of how you can apply for the form offline:
Visit the financial branch.
Fill in the application form and enter all the required details.
Submit all the required documents that prove one’s income, age, address and identity.
The lender will then verify the documents and check your personal loan eligibility criteria.
The loan amount will be carried to the bank account of the applicant if he/she is found eligible.
How Personal Loan Applications are processed?
When a bank receives your loan application, they will go through all information provided by you such as bank balance, salary deposits made into your account, EMIs being deducted from your account, etc.
The bank will confirm your identity and address details with your Know Your Customer (KYC) documents. Banks may visit you at home to confirm all the details.
The copy of your Income Tax Return or salary payslips will help the bank meter your refund capacity.
Some banks might discover your credit-worthiness by finding out your CIBIL score.
Documents required:
Proof of age and identity
Proof of residence
PAN Card
Proof of Income
Passport-size photographs.
Duly-filled and self-attested personal loan application form.
Conclusion- ICICI Bank personal loan provides quality service and instant personal loan instantly in the top commercial and metropolitan cities of India and meets your financial requirements without any bottlenecks. ICICI Bank is well connected across major metropolitan cities and is happy to help you whenever and wherever required!
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