How To Get Loan From Private And Govt Bank In India 2022 – Eligibility, Interest Rate, Tenure, Documents, Apply Process:- Having 23% of shares of the total market assets in India, this bank is the largest public sector bank of India and tops the list of best bank in India. It also holds 1/4th of the total loans and deposits in the current financial market.
How To Get Loan From Private And Govt Bank:-
With this article here, I will provide you all the necessary details you want to know about this loan scheme.
- Loan Amount commences with Rs. 50,000 up to Rs. 40 Lakh.
- Credit Score should be above 650 to 750 only.
Top Private Sector Banks Offering Personal Loans
|Bank||Interest Rate (p.a.)||Repayment Tenure|
|Axis Bank||12% to 21%||12 months to 60 months|
|HDFC Bank||10.50% to 21.50%||12 months to 60 months|
|Kotak Mahindra Bank||10.25% onwards||Up to 60 months|
|YES Bank||10.99% onwards||12 months to 60 months|
|Citibank||9.99% to 16.49%||12 months to 60 months|
|Deutsche Bank||Contact the bank for more information||12 months to 48 months|
|Federal Bank||10.49% to 17.99%||Up to 48 months|
|RBL Bank||14.00% to 23.00%||12 months to 60 months|
|IndusInd Bank||10.49% -31.50%||12 months to 60 months|
How To Get Loan From Private And Govt Bank In India Features :
- Anyone can apply How To Get Loan From Private And Govt Bank In India by visiting official website of Govt & Private Bank.
- If an individual is already a customer of Govt & Private Bank, then the loan would be approved within 10 seconds after approval of required documents.
- If an individual is not a customer of Govt & Private Bank, then the loan would be approved within 4 hours after approval of required documents.
- On taking Govt & Private Personal Loan you can avail the facility of Insurance provided by Govt & Private Bank.
- On being a Govt & Private customer you will be enjoying many special offers, benefits, charges on the personal loan you take from Govt & Private Bank.
- A special perk is that if you avail Govt & Private Personal Loan you will get to select your own repayment tenure and have low EMI you pay will be affordable and cheap.
Features of Personal Loan
- Collateral-free Loan
- Loan Amount: From Rs. 10,000 to Rs. 40 Lakh
- Processing Fees: Up to 5% of the sanctioned loan amount
- Repayment Tenure: 1 -5 years
How To Get Loan From Private And Govt Bank In India ELIGIBILITY:
Here are a list for things that call you eligible for the loan;
- Any individual who is between the age of 21 years to 60 years.
- Individual earning minimum of 25,000 net income/month.
- Those who possess a job for no less than 2 years and least of 1 year with the present employer.
- Person working at a public sector undertakings that includes central, state or local bodies and those who work in private limited companies.
How To Get Loan From Private And Govt Bank In India INTEREST RATE:
Note: Government taxes and other charges will be charged separately with the Fee (amount to be paid).
The rate of interest and additional charges are provided below;
Loan Processing Charges Up to 2.50% of the Loan amount,
Max. 25,000 for salaried/ self-employed individuals
Min. 2,999 for salaried/ self-employed individuals
Rack Interest Rate For salaried/ self-employed individuals,
up to 10.50% to 21.00% p.a.
Stamp Duty and
Other Statutory Charges According to the state applicable laws
Additional charges and fees for Govt & Private Personal Loan includes;
Cheque Swapping Charges – Rs. 500 /-
Cheque Bounce Charges – Rs. 550 /- ( May Differ)
Amortization Schedule Charges – Rs. 200 /-
Loan Cancellation Charges – Rs. 0 /- ( NIL)
Loan Rebooking Charges – Rs. 1000 /-
How To Get Loan From Private And Govt Bank In India Tenure:
- Speaking of the repayment tenure, it approximately ranges from 1 year to 5 years.
How To Get Loan From Private And Govt Bank In India Required Documents:
- There are a few documents you need to keep handy for passing the loan…
Listing them below;
- A copy of Aadhaar Card/ Voter ID Card/ Passport/ Driving License for Identity Proof and Address Proof
- Passbook of previous 6 months and a Bank Statement of preceding 3 months
- Present date Salary Certificate/ Two latest Salary Slip with the latest Form 16
How To Get Loan From Private And Govt Bank In India Online Application:
- It is not very complicated to claim for Govt & Private Personal Loan through online application. So now you can make an online application within a few clicks of button.
Process for the same is given below;
- You 1st need to select if you are salaried or self-employed or professional, after the selection they ask you the question is, whether you have an account in the Govt & Private Bank? After answering in yes or no. If yes, they will ask if you have any active loan with them and if no, they will ask you to fill other similar questions, after answering all these questions, you will be eligible for further processes and then to avail the Govt & Private Personal Loan.
How To Get Loan From Private And Govt Bank In India FAQ’s:
A few doubts that may occur in your brains also;
- Do mention the site for How To Get Loan From Private And Govt Bank In India?
- Here’s a direct link to Any Bank’s official page;
Apply for Instant Personal Loan Online at Best Interest Rates | Govt & Private Bank
- For what all can I use the personal loan for?
- You can use your personal loan amount for many purposes. Medical Treatments, Wedding Expenses, New Technological Devices, Fun Vacations, Household Purposes, etc. and many other reasons.
- Why to select How To Get Loan From Private And Govt Bank In India?
- When you apply for the loan you will receive your funds instantly, which is up to Rs. 40 Lakh and with pocket friendly EMIs which starts from Rs. 1,878/Lakh with a repayment tenure from 1 year to 5 years.
- On what basis is the eligibility calculated?
- Five factors are necessary for the eligibility of the loan, namely;
- Your Geographic Location
- Your Monthly Income
- Your Ownership of Property
- Your Existing Credit and Credit History
- Your Employer Level
- What are the factors that affect our How To Get Loan From Private And Govt Bank In India eligibility?
- There are mainly 3 factors that affect your eligibility in personal loans;
- Your Income plays a pivotal role while taking loans as the bank sees its safety, so if you have running income you will be able to pay the loan on time.
- If your Repayment History for your earlier loans is on good track then the acceptance for the loan will be a lot faster and easier.
- Next is your CIBIL Score e. your Credit Score will determine your eligibility for the personal loan.
- Is there any documentation process required for pre-approved personal loan?
- No, there is no need for any documentation process for an individual’s pre-approved personal loan only if you are already a customer at Govt & Private Bank with a KYC Compliant.
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