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Everything You Need To Know About

Personal Loan

Overview

Get Personal Loan Interest Rates,Personal Loan EMI Calculator,eligibility calculator at Loan adda. Online Apply Bank Loans HDFC,ICICI,IDFC. Get a step closer to your dreams and goals by availing our Personal Loans and meet your financial needs. You can avail a personal loan to meet unexpected expenses, a dream holiday, school or college fees, wedding expenditure, home improvement expenses or even purchase of consumer durables.

Steps to Online Apply for Personal Loan

The illustration below indicates what to expect at every step during the loan evaluation process. It helps understand how the credit decisioning works in banks and the steps they take before deciding to accept or reject a loan/ credit card.

Step 1

APPLICANT FILL OUT A LOAN APPLICATION FORM.

Step 2

DOCUMENTS HAND OVER TO THE BANK.

Step 3

BANK CHECK YOUR REPORTS AND CIBIL SCORE.

Step 4

HIGH CIBIL SCORE LEADS TO ELIGIBILITY CHECK BASIS DOCUMENTATION.

Reject

Low credit score leads to loan reject.

Your Credit File Is Thin.

Too many previous loans and too little income.

Loan Approval

Eligible will lead to loan approval.

Good Credit Cibil Score will lead to loan approval.

Banks eligibility criteria, the bank will approve your loan.

Reject

Non eligibility leads to reject loan application.

Residential address is on the defaulter list.

Documents Required For Personal Loans

Most banks follow the same general rules in terms of document requirement. There may be a few changes in certain cases, in which case, our loan officers will guide you personally to complete the documentation process. Salaried individuals.

1. Form 16 of last 2 years or Income Tax Returns.

2. Salary slips of last 3 months.

3. Last 6 months bank statement reflecting salary credits.

4. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/      Utility bills/ Bank Statements.

5. Cheque of Processing Fee.

Personal Loan Eligibility
Documents required for Guarantor:

Your eligibility for Personal Loan is determined by the following factors:-

Income/ Other Income

Age

Qualification

Property value

No of dependents

Bank Balance

Creating Breathing Space in a Cash Crisis

approve loanTRANSPARENT   Borrowing with an assurance of not having nasty surprises on the interest rate.

bank loansCOST EFFECTIVE   When you make an early settlement without incurring any penalty fees.

personal loanRISK FREE   Unconditionally covering our loan offers and services.

home loanQUALITY   Expect accommodating staff ready to answer your enquiries.

business loanINSTANT   Start processing your loan in just a few clicks.

secured loanCONVENIENT   Pay your loan right around the corner.

unsecured loanFLEXIBLE   Choose among our unique terms to fit your cash needs.