Are you looking for personal loan options in the city of Surendranagar?
If yes, this article has all the details you need to know before applying for a loan. From eligibility to interest rate, this article covers it all. Before getting into the details, let us first understand what a personal loan is and then the details of getting a personal loan in Surendranagar.
What is a personal loan?
Personal loans are a kind of instalment debt that lets you get a one-time payment of money. Online lenders, credit unions, and banks can all provide personal loans. You must pay back the amount you borrow over time, usually with interest. Fees for personal loans may also be assessed by some lenders.
You can borrow money in the form of a personal loan to spend it on a range of things. For instance, you might use the option of a personal loan to pay for home improvements, debt consolidation, or a wedding. You can take out a personal loan to cover personal expenses and then repay the money over time.
Personal loan in Surendranagar
Surendranagar is an administrative district in the Gujarat state of India’s Saurashtra region. It has a population of roughly 1.7 million. With a combined population of 400,000, Surendranagar city and Wadhwan, also called its twin city, are together referred to as “Camp.”
The city of Surendranagar has multiple options and banks to apply for personal loans. This makes it hard to know the real details, like who is eligible, how to apply, and much more. Since a personal loan in Surendranagar is not just provided by one organisation, the details might vary from one organisation to the next. Thus, some of the details that remain the same for all organisations are listed below.
Eligibility for a personal loan in Surendranagar
Anyone who satisfies the five requirements listed below may apply for a personal loan in Surendranagar. If you meet all of the qualifications, you will need to send in a few documents to finish the application process.
The eligibility requirements are as follows –
- Nationality: The person applying for the loan should be an Indian citizen.
- Age: The age of the applicant should be between 21 and 67 years old.
- Working sector: The person applying for a loan should either work for a public, private, or multinational company (MNC).
- CIBIL score: The minimum CIBIL score of the person applying for the loan should be 750.
- Salary: The person who wants the loan should have a starting salary of at least 22,000 rupees per month, depending on where they live.
Documents required for a personal loan in Surendranagar
The required documents are as follows:
- KYC documents (PAN card, Aadhaar, and others).
- Passport or voter’s ID, salary slips from the last two months
- I.D. for employees.
- Past three months’ statements of your bank account.
Keep the necessary paperwork close at hand for when you are ready to apply. After entering your information in the online application form, you must upload it. After you complete your application, a member of our staff will get in touch with you to arrange a time for you to pick up the physical copies.
How to apply for a personal loan in Surendranagar?
The steps for applying for a personal loan in Surendranagar are as follows:
- To access the online application form, click the button labelled “Apply” at the top of the loan application page.
- Enter your ten-digit mobile phone number, then check the OTP that has been provided to your registered phone number.
- The application form should be filled out with your basic information, such as your full name, PAN, date of birth, and PIN.
- Now click “Proceed” to get to the loan website.
- Enter the required loan amount. Choose between the three major types of personal loan options, including Flexi hybrid, Flexi term, and term. It might differ from one bank to another.
- Select the repayment period, which can range from 12 to 84 months, and then click “Proceed.”
- Finish the KYC process, then submit your application.
The next steps will be explained to you by the representative of the bank you apply to. The loan money will be sent to your bank account after your documents have been checked and approved.
Features of a personal loan in Surendranagar
Some of the features of the personal loan are as follows:
- Distinct variationsChoose from the Flexi Hybrid Loan, Flexi Term Loan, or Term Loan depending on your needs. These options may vary from one bank to another.
- There is no fee for partial prepayment of the Flexi Term LoanPay a portion of your debt off early at no additional expense. As many times as you would like, you can part-pay.
- A loan of up to 35 lakh rupeesOrganise your expenditures with loans that range from Rs. 1 lakh to Rs. 35 lakh.
- Convenient job termsWith options for loan repayment ranging from multiple months to even a year, you can conveniently manage your debt.
- 5 minutes to approveFrom the convenience of your home or any other location, complete your full application online. It hardly takes time to get approved.
- Within 24 hours, the money enters your accountYour bank account will get the loan amount within 24 hours, or sometimes the same day as approval.
- No additional feesBoth on this page and in the loan documents, the charges are stated explicitly. Before applying, it is suggested that you read the details carefully.
- No guarantor or security is requiredNo collateral, like property papers or gold jewellery, is required, and there is no requirement for a guarantor.
One of the most popular types of loans available today is the personal loan. There are many benefits to a personal loan, which makes it extremely popular. The documentation requirements are minimal, the interest rates are reasonable, and loans up to Rs. 5 lakhs are available; they may vary from one bank to another.
A personal loan is a fantastic option to pay for your urgent needs. A personal loan can be used to cover all of the expenses, whether they are related to an unexpected medical issue or a large purchase.