A personal loan is an unsecured loan offered by financial institutions to individuals without putting up any collateral against it. These loans can be taken to cope with a wide variety of personal needs such as home renovations, medical emergencies, credit card consolidation, family needs, etc. Personal loans are generally sanctioned based on several criteria like income level, employment history, credit history, repayment capacity, etc.
Proof of Identification
Proof of residence
Bank statement - 6 months from the current date
If you are salaried
Current salary slips for three months
Form 16 provided by the employer
If you are self-employed
Tax returns for the last three years
Computation of taxable income for last three years
Certified or Audited balance sheet and Profit and loss statement for last three years
The personal loans amounts are sanctioned based on your financials and the policies of the banks. As of 06 August 2020 the range of personal loan amount is from Rs.50,000 to Rs.15,00,000.
This depends on the financial institution that you have taken the loan from. Some financial institutions allow you to prepay and others don't. If you have seasonal income, it may make sense for you the check the prepayment conditions with the lender before you borrow the money.
As of 06 August 2020 the majority of the lenders do not require a guarantor for a personal loan in Asansol. There are a few lenders who might require that, based on their product policy and your financial conditions. However, if they require it, they will let you know that during the application process.
As of 06 August 2020 the time to get the money in your account varies from 2 days to 7 days. However, in certain conditions, you might be able to get the loan faster than 2 days.
A lot of lenders allow the borrower to pre-pay the loans after 6 months. However, as of 06 August 2020 not all lenders allow you to pre-pay your loan. Therefore, it makes sense for you to check with your lender on the prepayments policy that they have.