Formerly a part of Madhya Pradesh, Raipur now is a part and capital city of Chhattisgarh. The city is one of the most important cities in India, and contributes both economically and culturally to make India the vividly progressive nation it is.
Being a tourist destination, Raipur has a flourishing handicraft industry. Artifacts made of Bamboo, wood, metal, and tribal paintings are a huge hit here. Even the food here reflects the ethos of Raipur, as lentils and rice flour forms a basic constituent of almost all their delicacies.
The development of various small scale industries in the area has led to an increase in demand for personal loan in the region. We are here to help the consumers to avail a personal loan in the fastest and easiest way possible with the lowest interest rate in the region.
What is a personal loan?
Personal loan is a type of unsecured credit which is provided by financial institutions to its consumers. Unlike car loan or property loan personal loan is a multipurpose loan and can be used for various different objectives such as paying back debt, vacation or to meet wedding expenses etc.
Interest on personal loans –
The interest on personal loan ranges anywhere from 10% to 50%. It is highly variable as it depends upon the credit score of the consumer if the consumer has a credit score of more than 750, he’s likely to get a lower interest rate and the processing time of the loan is expected to be faster for him. Personal loan can be availed to an amount up to 5 Lack rupees and can be repayable up to a period of 60 months
FEATURES AND BENEFITS OF PERSONAL LOAN IN RAIPUR:
High Loan Amount :
Financial institutions in Raipur, provide personal loans in the range of Rs 50,000 to Rs 5,00,000, whether you are a salaried or self-employed individual.
Attractive Interest Rate :
Personal loans in Raipur are offered at affordable interest rates, which can be easily handled by salaried as well as self-employed individuals.
Collateral Free :
Availing a personal loan in Raipur comes with no strings attached as it requires no collateral as security, thereby increasing the chances of faster approval.
Flexible Repayment Tenure :
Since the repayment period can range from 12 months to 60 months , a personal loan provider in Raipur, borrowers get to enjoy great flexibility and can plan their EMIs based on their current living expenses.
Instant Approval :
Personal loans in Raipur are collateral-free, and hence, require very few documents. Financial institutions offer instant loan approval on personal loans if an applicant meets the eligibility criteria and submits valid documents.
Eligibility Criteria for Personal Loan in Raipur:
- A personal loan in Raipur can be availed by meeting the eligibility criteria mentioned below.
- An Indian citizen who is at least 21 years of age and not more than 58 years.
- A professional who gets a salary must be employed at a company for at least 6 months.
- A self-employed professional should be running his business for a minimum of 2 years.
An applicant must have a monthly income of Rs 15000 or more to avail a personal loan in Raipur.
Documents Required for Personal Loan in Raipur:
A completely filled personal loan application form along with a PAN copy should be uploaded online.
A passport size photograph with the recommended KYC documents such as identity proof, residential proof, income proof must be furnished by both salaried and self-employed applicants to be eligible for a personal loan in Raipur.
Bank statements of the previous 6 months must be submitted as income proof by both salaried and self-employed applicants.
In the end we can say that personal loans are one of the most flexible loans that can be availed by a consumer. Banks provide this facility so that consumer can use this money responsibly. At the end of the day this is also a loan which needs to be repaid back with interest hence it is advisable to only apply for a personal loan when required or in a need of emergency. Also, if there is a specific loan available for the specific purpose of the consumer the consumer should not avail a personal loan