Personal Loan

Personal Loan in Bathinda – Check Eligibility & Apply Online


Bathinda is an area in the Malwa region of Punjab in northwest India. This city is among India’s oldest. Bathinda is called the “City of Lakes” and was once known as “Taber-e-Hind,” meaning “Gateway to India.” To qualify for a personal loan in Bathinda, you must have a steady and high source of income and a good credit history. Also, there is no time limit on using the single credit balance. You may use this credit sum anywhere you like.

What Exactly Is A Personal Loan?

A personal loan is one that a person may be eligible for based on their credit record and salary. It may be given for nearly any reason. Personal loans are often called “signature loans” or “unsecured loans” because you don’t usually have to put anything up as collateral to get one.

Personal loans in Bathinda are often granted by lenders based on their reputation.

When compared to house, vehicle, or other forms of loans, personal loans are quite simple to obtain. As a result, they may be used for anything from minor home upgrades to large purchases.

How to Avoid Refusal of a Personal Loan in Bathinda

  • Get a CIBIL score of at least 750.
  • Factual errors in the credit report may have a bad effect on the credit score. Such errors reduce the odds of loan acceptance.
  • Before closing any loan deal, check the loan rates offered by banks and NBFCs.
  • Apply for a loan from a lender that has the best approval rates.
  • Avoid filing many loan forms in a short period of time.

Documents Needed for a Personal Loan in Bathinda

People drawing wages

  • You must give one of the following documents for identity proof: a passport, driving license, Aadhaar card, PAN card, or utility bills from the last 3 months. You may provide your tenant’s contract papers.
  • Income proof: six months of the most recent bank record and six months of payment receipts.
  • 2 passport-size photos.


  • ITR reports and all documents pertaining to monetary transactions
  • 2 passport-size photos.
  • You must give one of the following documents for identity proof: a passport, driving license, Aadhaar card, PAN card, or utility bills from the last 3 months. You may provide your tenant’s contract papers.

Personal Loan in Bathinda: Standard for Eligibility

People with jobs and people who work for themselves have different requirements to get a personal loan in Bathinda.

People drawing wages

  • The person’s age must be between 21 and 60 years old.
  • The person must have three years of work experience. Also, they must note the payment in their files.
  • The person must have a solid financial track record.
  • The person’s active area must be stated.


  • A person’s minimum age must be 25 years old.
  • Applicants must have ITR records for the past 3 years.
  • The person’s financial records must be acceptable.
  • The person’s annual salary must be at least Rs 2.5 lakh.
  • People have to give their bank statements and other money-related documents from the last quarter of the year as part of the paperwork.

Personal Loan in Bathinda: Prepayment Fees

Banks and NBFCs charge a fee for filing the loan form. These fees vary between 1% and 2% of the allowed credit limit. If you want to pay off the debt before the advance period, each lending firm charges you a fixed prepayment cost. Often, a person cannot shut down their credit before one year. After that, the costs vary based on the active credit duration. These fees fall from 4% of the credit total in the 2nd year of the loan to 2% in the 4th year.

A personal loan in Bathinda needs a good CIBIL score.

Each lending firm has rules for the lowest CIBIL score needed to approve a loan in Bathinda. To complete the credit form, most firms demand a minimum score of 750. The banks assess the overall score and the specific pattern of prior advances made.

Factors Affecting Getting A Personal Loan in Bathinda

  • History of credit and repayment

Before granting a loan, lenders and NBFCs always assess a lender’s credit history. If your payback history shows that you have not been excellent at repaying debt, banks may deny the loan request or charge you a high interest rate. A high credit score boosts the chances of credit approval.

  • Negotiating skills

Salary, credit record, and a solid banking relationship all boost the chances of negotiating good terms and conditions. If you bargain skillfully, special offers may be added to your bundle.

  • Income

Your salary greatly alters your ability to get a bank loan. The better the pay, the more likely you are to get a loan with a low interest rate.

Wrapping Up

A loan is a significant sum of money taken from a bank that a person may use for nearly any purpose. The credit record and income are often used to assess eligibility. In most contexts, such loans do not need security. Personal loans are often made with set interest rates, short payback terms, and upfront costs. A personal loan in Bathinda is available via banks, internet lenders, credit unions, and niche lenders. Some banks ban the use of personal loans for higher education costs.

Visit the Piramal Finance website and look at their products and services to find out more related information.