personal loan

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GONO1DEALS.COM
PERSONAL LOAN
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PERSONAL LOAN

• What is Personal loan.
• A Personal loan is money borrowed from a bank,
  financial institutions or online lender that
  anyone pays back in fixed monthly payments, or
  installments.
• A Personal loan has higher interest rates than
  secured loans like a home loans, loan against
  property, but there is no requirement of putting
  up any collateral to ensure repayment.
• A Personal loan can be used for anything. some
  lenders want to know intention of money they lend
  you, but as long as youve borrowed it for a
  responsible and legal reason, you can do what you
  want with it.

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Purpose for taking Personal Loan

• Personal loan can be used for various purposes.
• For a Wedding Family Functions-It can be used
  for a large expense like Wedding purpose also
  because it might save a considerable amount on
  interest charges provided it has a lower rate
  than credit cards.
• For Improving Your Credit-A personal loan might
  help in increasing credit score also.
• The lower the amount of your total credit you
  use, the better your score will be.

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Various other Purposes for taking Personal Loan

• It can be used in consolidating ongoing loans
  also.
• Personal Loans can be used for undertaking a
  professional course.
• It can be used for providing childs education
  also.
• It can be used for financing a vacation.
• It can be used for refinance Credit Card dues.
• It can be utilized for down payments for cars,
  bikes etc.
• It can be used for home purchase, renovations.
• It can cover for the period while moving from one
  job to another (subject to valid offer letter
  available from the new company.
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Eligibility for taking Personal Loan

• Individuals who can take a Personal Loan
• Salaried Employees
• Salaried doctors
• Employees of public and private limited companies
• Employees of government sector including Public
  Sector Undertakings, Central and Local bodies
• Minimum age should be 21 years
• Maximum age should be 60 years at the time of
  maturity of the Personal Loan.
• Minimum net monthly income Rs. 15,000

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Document required for Salaried Personal loans

• Duly filled application form.
• KYC documents(Pan Card, Voter ID, Aadhar card,
  Etc.).
• Latest 3 months salary slips.
• Last two years form 16.
• Salary account bank statement of last 6 months.
• Loan agreement should be duly signed and Standing
  Instruction (SI) Request / ECS Forms.