Personal loans are the best option to avail the instant funds. The loan facility provides the funds for everyone , regardless of business person or professional one. The salaried as well self employed personas can avail the benefits of personal loan. The applicant needs to provide valid documents with a good CIBIL score to get the instant funds of personal loan.
Personal loan for everything as it provided to the borrower with no restrictions on the use of loan amount. This means the loan amount can be used for everything you want. You can spend for personal use or purchase of anything.There is full freedom to use the loan amount where you like to spend or what you want to do.
Loans are provided with certain eligibility conditions and documentation as per personal loan lending banks. The rate of interest on personal loan depends upon your credibility or cibil score which reflects your financial dealings with lending institutions.
Personal loan documents:
Any valid ID Proof (Passport/Driving License/Voter ID Card)
Salary slip of last or recent 3 months (salaried person)/ Income proof (self-employed person)
Proof of continuity of business (self-employed person)
Proof of Residence (Utility bills)
Passport-size photographs
Personal loan eligibility Criteria:
The eligibility of personal loans varies from one Bank/NBFCs to another. Apart from this, there is a general criteria including the age, CIBIL, income, occupation, and capacity to repay the loan. If you wish to get an instant personal loan, it is important to have a regular income source. While applying for a loan, an individual needs to submit some documents that include
Minimum 21 Years of Age
Age should not over 65 years
Salaried professional or self-employed
Good Credit Score or CIBIL Points
Resident of India
Income should be at least INR 15,000
In case you are salaried, you are in a full time job for at least 24 months of which not less 12 months must be with your current company
In case you are self-employed, you must be in your current profession or business for at least 3 years and should preferably be owning either your office or your place of residence. Minimum turnover and minimum net income criteria may apply.
Apply HDFC Personal loan
So, you can apply for personal loans having eligibility and valid documentation which need to be provided to the bank for personal loan application approval..
Comments