Short Term Personal Loan In Pune

Pune is a radiant city located in the Indian state of Maharashtra. It is a house for many old and as well as start-up companies. It is becoming one of the rising educational hubs of the country by many emerging academic institutions. The city is becoming a favourite destination for youngsters and budding entrepreneurs. As the possibility of investment is increasing at every scale, Short Term Personal Loan In Pune has become almost a necessity for many professionals. If you are one among them then you must know the following to avail of a hassle-free loan process.

Eligibility Criteria for a personal loan

• You must be a resident Indian citizen to get a Short Term Personal Loan In Pune

• 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

• Government recognised address proof

• Government recognised identity proof

• Government recognised age proof

• 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 Short Term Personal Loan In Pune| 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 Pune

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