Search for Personal Loan offers through online financial portals. These searches can give you the pick of Personal Loan offers to cater to your situation. You then have to narrow down your choices and examine each option further, looking at the terms and conditions and finally choose one.
Personal Loan Eligibility in Ghaziabad
Depending on whether you are salaried or self-employed, the criteria might vary. Your age needs to be between 21 to 60 if you’re salaried, and 21 to 65 if you are self-employed. It is easier for the salaried to get home loans because they have a steady income. However, if the financial stability of the business is good and the self-employed have good investments and savings, they too can get Personal Loans in Ghaziabad.
Minimum Salary Required for Personal Loan in Ghaziabad
Wherever you live when you apply for a Personal Loan, remember this basic rule:
- Most lenders would like to limit the EMI you pay on the loan to 30 or 40% of your monthly income
- Compute the loan amount you can get based on this
- If you have other loan commitments, then you might not qualify for the loan, or you will get a lower amount
Documents Required for Personal Loan in Ghaziabad
You have to provide copies of KYC documents:
- ID Proof
- Age Proof
- Address Proof
In case of self-employed person, you also need to provide
- Office Address Proof
Income Proof and Job Proof for Salaried
- Salary Slips For Last 3 months
- Form 16
- Bank Statement for last 6 months, for the account where salary is credited
- Employment letter
Income Proof and Business Proof for Self-employed
- IT Returns for last 3 years
- Audited Balance Sheet for last 3 years
- Audited Profit & Loss Statement for last 3 years
- Bank statement for past 1 year, from both personal and business account
- Saral copy for last 3 years
- Business registration certificate
- Registration under Shop and Establishment Act
- Tax registration certificates
You also need to submit details of previous and ongoing loans, and proofs of investments.
Benefits of Personal Loans
- Personal Loans are unsecured loans, you do not have to provide any collateral for the loan
- Interest rates are much higher than for secured loans. If you have a good credit score though, you can get Personal Loan in Ghaziabad for lower interest rates
- You can use a Personal Loan for any purpose, you don’t have to account for how you spend the amount as you have to do with a home loan
- Documents required for Personal Loan in Ghaziabad are considerably lesser than those required for (say) a home loan or a car loan
- Because of minimal document requirement, the processing time is also faster
Pick the best Personal Loan offer, with the lowest interest rates and minimum charges and fees. Apply online for Personal Loan in Ghaziabad. The lender’s website will provide you with an online Personal Loan application form. Fill this out, and then submit the required documents. Once these steps are completed, the bank will review your application within a short time. Then, they credit the loan amount to your account if you are approved.