Personal Loan In Chandigarh

Chandigarh is a vibrant city located in the northern part of India. It is a Union Territory in India and is the capital of two states, Punjab and Haryana. It is considered one of the richest cities in India. Due to the presence of several industries, the city has one of the best per capita incomes in India. Chandigarh was globally ranked fourth among fifty cities as an emerging destination for outsourcing and IT services ahead of Beijing even. Due to the availability of many opportunities, lots of people shift to this amazing city. If you are also staying in this city and need a personal loan in Chandigarh , then you must know the basics to get such a loan.

Eligibility Criteria for a personal loan

• You must be a resident Indian citizen.

• You must be aged between 21 years to 60 years.

• You must be either a salaried or, a self-employed individual.

Documents required for a personal loan

• PAN Card / Aadhaar Card/ Driver’s license.

• Recent passport-sized photographs.

• The last 6 month’s bank statement.

In case you are a salaried professional

• The minimum eligible salary is 20K per month.

• 1 year of work experience with proof of at least 6 months completed under your current employer is required.

• The last 3 month’s salary slips.

In case you are a businessman or, self-employed individual,

• The annual turnover is required.

• The audited copies of yearly balance sheets and annual profit statements after-tax are required.

Fees and rate of interests applicable for a personal loan

• The rate of interest for a personal loan in Chandigarh varies from 9.6% to 36% per annum depending on the lender and your eligibility criteria.

• A processing fee of 1.5%-3% of the total loan amount is applicable.

• Bank charges 2%-5% pre-payment or, loan foreclosure charge depending on the remaining principal amount.

• You need to pay at least 3 to 6 EMIs before you apply for a loan foreclosure.

Hope this helps you to get a hassle-free personal loan in Chandigarh .

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