Personal Loan Dhotian
You need money for almost everything. To pay a visit to your relatives, to go for a vacation, to handle emergencies, to get educated, to get medical treatment, to fulfill your wishes, etc. All these require money. And in these situations when you are short of cash, Personal loan comes up as the hero of the day to rescue you, the hero which will save you anyhow. A personal loan is a money borrowed from an institution or a person to fulfill own requirements of a person. Personal loans can be from 1 to 5 years as per the need of the consumer.
Personal Loan Eligibility Criteria
- Firstly, minimum age of the applier applying for a loan must be at least 21 years for salaried, and the same is 25 years for self-employed.
- Secondly, the maximum age is 60 years of the salaried person, and that for self-employed, the maximum age must be 65 years. The maximum age is as per the time of maturity.
- Furthermore, he/she must be a resident of India.
- Then, the minimum Credit Score of the applicant must be at least 700.
- In addition to that, the applicant must have a proper source of income.
- Also, If the applicant is salaried, then his salary must come in his/her bank account.
- Moreover, the monthly salary for a salaried person should not be less than Rs.18000. If the salary of a person is less than 18000, then he or she is not applicable for taking a loan.
- In addition to it, for the self-employed applier, ITR of Rs. 2.5 Lacks should have been paid for the last three years.
Personal Loan Dhotian Interest Rates
The Personal Loan Dhotian Interest Rate is more as compared to other loans. It depends on various things like income of the person, amount of loan required, and the category of the company, etc. Usually, the basic rate of interest in the personal loan is 10.75% per annum. However, it can change from time to time and in concern to different credit scores of the applicants.
Documentation Required for Taking Personal Loan Dhotian
The documentation process for taking this loan is quite easy and understandable. Since a personal loan is a very insecure loan, so the bank or NBFC needs to assure by checking all the documents of the applicant of the loan.
- Firstly, two colored passport size photographs are a must.
- After that, one proof of identity, which includes – Aadhar Card/ Voter Card/ Passport/ Driving License/ PAN Card.
- Likewise, one residence proof which includes – Aadhar Card/ Voter Card/ PAN Card/ Passport/ Driving License/ Utility bills of last three months by the name of the applicant / Ration Card/ Rental Agreement.
- Also, one income proof which includes – salary slips and bank statement of last 6 months for salaried person.
- Meanwhile, for self-employed people, income proof is ITR of the last 3 years, and it should be of Rs.2.5 lacks at least.
Pre-Closure Charges
If the person wants to close the loan before the completion of the time period of his loan, then the process is known as pre-closure. The Personal Loan Dhotian has this feature of pre-closure. But the applicant will have to pay some amount as a penalty charge. But these charges are reasonable. These are around 0-2% depending on bank to bank and region to region.
Tenure of Personal Loan
The applicants have an option to choose the tenure, i.e., time period of the loan according to their own requirements. There is no such restriction in that. It can range from 6 months to 5 years, according to the applicant’s convenience.
Methods of Repayment of Loan amount
There are 3 methods of returning money:
- Term Loan
- EMI
- OD
How to apply Online?
- Visit our website, bookmyloans.in.
- Fill the online application form with your necessary details in it.
- You will receive a call from loan experts within 5 minutes.
- The whole process is very easy, hassle-free, simple, and understandable.
About Dhotian
Dhotian is a village in Tarn Taran District in the state of Punjab, India. It is located 14 KM away from District head quarters Tarn Taran Sahib, 5 KM away from Naushehra Pannuan, and 215 KM away from State capital Chandigarh. Dhotian has its Pin code as 143411, and postal head office of this area is Dhotian. The standard language used here is Punjabi. Dhotian’s total population is 7661 and number of houses are 1477, as per the report of 2011 census of India. The overall literacy rate is 60.0%, and that of the Female is only 26.3%.