Delhi is one of the largest and most productive megacities of India. Apart from being the national capital and political epicentre, it is one of the major economic hubs of India. So, if you are living in this city full of livelihood and need of a personal loan in Delhi-NCR then you need to know the following to avail of a hassle-free personal loan.
Eligibility Criteria for a personal loan
- You must be a resident Indian citizen to get a personal loan in Delhi-NCR.
- You must be aged between 21 years to 60 years.
- You must be either a salaried or, a self-employed individual.
Documents required for a personal loan
- Government recognised address proof
- Government recognised identity proof
- PAN Card
- Recent passport-sized photographs
- The last 3 month’s bank statement
- In case you are a salaried professional,
- The minimum eligible salary is 25K per month.
- 1 year of work experience with proof of at least 6 months completed under your current employer is required.
- The last 3 month’s salary slips.
- In case you are a businessman or, self-employed individual,
- The annual turnover is required.
- The audited copies of yearly balance sheets and annual profit statements after tax are required.
Fees and rate of interests applicable for a personal loan
- The rate of interest for a personal loan in Delhi-NCR varies from 9.6% to 36% per annum depending on the lender and your eligibility criteria.
- A processing fee of 1.5%-3% of the total loan amount is applicable.
- Bank charges 2%-5% pre-payment or, loan foreclosure charge depending on the remaining principal amount.
- You need to pay at least 3 to 6 EMIs before you apply for a loan foreclosure.
Hope this helps you to get a smooth personal loan in Delhi-NCR.