Personal Loan Badnawar
A personal loan is now available to you for achieving your dreams. Now, you can marry your daughter, send your child abroad for higher studies or any other personal desire. Personal loan Badnawar can meet your finance-related issues.
Eligibility criteria for Personal Loan Badnawar
The client needs to fulfill a specific criterion.He is eligible to get the personal loan if he is a salaried employee or a Self Employed. Furthermore, he needs to fulfill the following requirements:
Firstly, the client needs to be 21 years for salaried person and for self-employed, then it is 25 years.
Also, the client should be a citizen or permanent resident of India.
The maximum age for the entire salaried clients should be 60 years at the time of maturity and 65 years for the self-employed clients.
Moreover, the client needs to have a minimum Credit Score 700.
Applicant should have a rigid source of income.
Also, the salaried applicants should receive a salary in his bank account.
Also, the monthly income of the salaried applicant should be Rs. 18000 minimum.
Lastly, the self-employed applicants should pay at least for the last three years an ITR of Rs. 2.5 Lacs
Personal Loan Badnawar Documentation
First of all, you should have 2 coloured passport size photographs.
Also, you must have some documents for identity proof, Residential proof and Income proof.
For Identity and Residential Proof- PAN card or Aadhar card or Voter Id card or Driving license or Passport are required. One of these documents is given as proof.
Further, income Proof is needed to provide like bank statement or your salary slips of the last 6 months. For a self-employed, you need to add your income tax return statement of the previous 3 years.
Personal Loan Badnawar Interest Rates
Basically, the interest rate of personal loan is 10.75% p.a. But it varies time to time due to various factors like the amount of loan, bank, etc.
Personal Loans avails the applicant with Pre-closure facility, but it includes some penalty charges. Generally, these charges are 0-2%.
Tenure of Personal Loan Badnawar
The applicants freely select the tenure of their loan from 1 year to 5 years. It is based upon their convenience.
Methods of Repayment
Personal loan repayment is done in 3 ways:
Term Loan- The client pays the bank per month interest rate, and in the end, also he will pay the principal amount.
Overdraft- Overdraft facility provides the client to pay only the used amount for that particular time. Also, no interest is charged on this facility.
EMI- EMI in which the bank makes the instalment of a part of interest rate and principal after which the customer need to pay it per month.
Features of the Personal Loan Badnawar
It is convenient and easy to Apply. The applicant can apply online in 2 minutes. Also, the Personal Loan is available offline as well, but applying online is hassle-free.
You can also apply online with our site, bookmyloans.in.
A personal loan is that which doesn’t involve any asset.
Also, clients get the personal loan as per their income or salary.
There are no restrictions on the end use of loan amount.
Also, tenure of loan is quite flexible.
The loan takes merely 30 minutes for the approval of Personal Loan only if the applicant is eligible.
Where can the Personal Loan amount be used?
The personal Loan amount is for multiple uses. But still, the reasons are to be specified.
Wedding – a personal loan can be used for wedding purposes. It involves a significant amount of funds. For such purposes, a person can quickly get a Personal Loan.
Education –Personal Loan can be helpful in having quality education for yourself or your child.
Medical – You never know when you meet with an accident, and you get out of cash. A personal loan is the best option to get financial aid in such situations.
Vacations – Everyone wants to have fun in their lives and what can be better than going on Vacations. But this can cost heavier. So in this scenario, the personal loan provides you a boost up.
At last, it’s based on the applicant’s will.
Badnawar is a town in Dhar district in the state of Madhya Pradesh, India. It used to know as Vardhamanapur, Acharya.