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Personal Loan

A personal loan is purely unsecured, short term cash loan, which means that the individual customer is not required to provide the bank with any security like property, jewels or any kind of guarantee against the personal loan.

Formally, for any urgent cash requirement we prefer personal loan. It can be taken for any general purposes like reconstruction of property / home renovation, a wedding expense, vacation etc.

The personal loan amount you are eligible for and the personal loan interest rate for you will depend on factors such as monthly net income, customers employment history, residence history and past financial credit history.

 Banks typically have capped the monthly payment (EMI) on your loan to about approximately 50% of your monthly take home income. However a customer cannot take personal loan for any kind of bad investment or expense which is not approved by the banks or by the law.

The personal loan eligibility criteria for salaried employee is as follows.

  • Minimum age of Applicant : 21 years
  • Maximum age of Applicant at loan maturity :  60 years
  • Minimum Net Monthly Income : Rs. 25,000 per month
  • Minimum and Maximum Loan Tenure:12 months -60 months

For Salaried Customers

  • One valid Identity proof
  • Latest Four months Bank statement
  • Latest Residence proof
  • Latest three month Pay slip
  • Two color passport size photo graphs


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