วันศุกร์ที่ 26 กันยายน พ.ศ. 2551

Getting A Personal Loan

A Personal Loan, as the name suggests is a loan taken to meet personal financial needs. It can be a marriage in the family, a house renovation, buying jewellery for your wife or paying for your vacation trip. These are the moments you may be looking for some urgent need for money, and which can be met by taking a Personal loan. Usually the procedure of Approval of personal loans is quick and a loan is approved with simple documentation.

Advantages of personal loans are Speedy Approval, flexibility to choose your loan amount ranging from 10000 to 10,00,000, Repayment period from 12 to 48 as per your interest, No need of collateral/security/guarantor. When it comes to Loans in India, we have a number of banks dealing with personal loans, giving attractive interest rates and competitive services. So it is always advisable for anyone to do a Loan Research before actually proceeding with a loan option from a Lender.

Eligibility criteria for taking a personal loan may vary from lender to lender. Still the following is rough information to know whether you are eligible for a Personal Loan.

Minimum age 21
Maximum Age 60
Minimum Monthly Income Rupees 5000 and above

Documents Required

• Proof of Identity (Passport Copy/ Voters ID card/ Driving License).

• Address Proof (Ration card Telephone/electricity Bill/ Rental agreement / Passport copy/Trade license /Est./Sales Tax certificate)

• Bank Statements(latest 6 months bank statement /passbook

• Latest salary slip or current dated salary certificate with latest Form 16

For Self Employed Persons and Professional ( Doctors / Lawyers / Engineers / Architects ), except for the salary statements above, other documents such as tax return documents, Balance Sheet / Profit Loss Statement of the firm he owns may be required.

Other than the normal interest on the loan, you may be charged a one time processing fee also for your Personal loan.

For more information on different types of loans available in India, please visit http://www.loanz.co.in

[tags]Personal loan India, documents required, eligibility[/tags]

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