Personal Loan Doda
A Personal Loan is an unsecured financial service, which helps you to meet your current financial needs. Personal Loan is that Ray of hope which you can see when you are standing in the dark tunnel waiting for the light to show you the way. You need not pledge any security or collateral while availing a personal loan. The lender provides you with the flexibility to use the fund as per your need. It totally depends on the applicant how and when he or she wants to use the money.
Personal Loan Eligibility Criteria
- First of all, 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.
- Also, 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.
- Likewise, 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 that, for the self-employed applier, ITR of Rs. 2.5 Lacks should have been paid for the last three years.
- Furthermore, he/she must be a resident of India.
Personal Loan Doda Interest Rates
The Personal Loan Doda 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 Doda
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.
- Secondly, one proof of identity, which includes – Aadhar Card/ Voter Card/ Passport/ Driving License/ PAN Card.
- 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.
- 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.
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 Doda 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
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.
Doda is a town plus a notified area committee in Doda district in Jammu and Kashmir State, India. Doda is located at 33.13°N 75.57°E and has its average elevation of 1,107 meters (3631 feet). As per the data of 2011 India census, Doda had a population of 25,527 people out of which males constitute 64% of the people and females 36%. The average literacy rate is 5%, which is more than the Indian national average of 73%. Also, 10% of the population is under 6 years of age.