Now, one day, personal loans have
become commonplace and best
finance services in Mumbai and NBFC (non-banking financial
company) are providing personal loans to their customers. Some of
them are coming to attractive plans and marketing gimmick customers
to attract customers. However, you should be aware of full personal
loan products and liabilities that you are already bound to apply
before applying.
Normally interest rates will be decided
in the term of the loan, the terms and conditions of interest rate
will be mentioned in the loan agreement.
The personal loan processing fee
depends on the relationship with the customer, some banks may charge
the fee, usually there is a processing fee of 3% of the loan amount
and it varies between 1% - 3%.
The loan period will vary from 5 years
to 8 years, depending on the loan amount and the financial
institution.
We strongly recommend that you read the
loan agreement and ensure that you have understood important elements
like interest rates, loan processing fees, per-payment charges, loan
top up fees etc. before signing the agreement.
Generally, customers can pay personal
loans after 6 months of debt distribution, although it varies from
bank to bank.
By default, interest on your personal
loan accumulates and is calculated on a daily basis, although it is
payable on the due date as equal monthly installment (EMI)
Your personal loan EMI can be made
through an electronic clearing system (ECS) account debit or
permanent standing instructions (SI) from your bank account or
through postdated check (PDC).
You should make sure that you pay your
EMI on due date, because on the due date the penalty will be imposed
on the non-payment of EMI and it affects your credit rating
(reporting to credit bureaus-CIBIL).
The Bank will notify you in writing of
any changes in interest rates and terms and conditions from time to
time, in writing or by electronic means.
Here is a list of documents that are
required by financial institutions to process personal loans:
List of documents required for salaried professionals:
Proof of Identity: - Passport / Driving
License / Voter ID / PAN Card / Aadhar Card
Proof of residence: - Vacation and
license agreement / utility bill (no more than 3 months old) /
passport (any one)
Proof If Income: The latest 3-month
bank statement (where salary / income has been credited) and latest
form 16, salary slips for the last 3 months.
List of documents for self-employed
professionals:
Proof of Identity: - Passport / Driving
License / Voter ID / PAN Card / Aadhar Card
Proof of residence: - Vacation and
license agreement / utility bill (no more than 3 months old) /
passport (any one). Proof of evidence (audited financials for the
last two years)
Business / Current Account Latest 6
Months Bank Statement
Office address proof
Proof of residence or office ownership
With the calculation of income, B / S,
P & L account with all programs certified by CA, the latest 2
year ITR
Business Continuity Proof: Business
License / Establishment / Sales Tax Certificate)
Some of our features include personal loans:
Multipurpose loan - can be used for any
purpose
Flexible time
Interest has been levied on monthly
deduction basis
No security, no collateral is required
Easy Installment Loan Payable (EMI)
Repayment through Auto Debit / ECS /
PDC
Starting interest rate of less than
11.49% on personal loan
To take advantage of incredibly
personal loans for your every need, please contact us
http://financebazar.in/best-finance-consultant-in-mumbai/