Personal Loan

Personal loan is a short to medium term unsecured loan granted to an individual. It has no end use restriction except for speculative purposes. Thus, one can avail personal loan for meeting wedding, education, travel or home renovation expenses; for purchasing consumer durables, two wheelers or second-hand vehicles; etc. Flexibility of usage, minimal documentation and quick processing make personal loan a preferred financing option. Unlike other loans, it usually has a shorter repayment tenure ranging from 1-5 years. Depending upon the individual applicant's profile and lender, the APR (Annual Percentage Rate) of a personal loan may vary from 11.29% to 35%

In case of change of payment mode or swapping your Post Dated Cheques, additional charges are applicable. Also, depending upon the lender bank, prepayment options may or may not be available and the applicable charges may vary accordingly.

Documents required for a personal loan

• KYC documents along with firm registration/ proof of identity
• Primary business bank statement for 6 months
• Salary slips for 2 months (if applicable)
• Partnership deed/ company MOA/ AOA/ COI (if applicable)
• The primary banking account of the applicant should have a minimum vintage of 1 year
• Property documents such as sale deed, house tax receipt, electricity bill