Personal Loan In Pune – Talegaon – Check Eligibility And Apply Online

Banks offer several credit options, like credit cards, mortgages, home loans, automobile loans, etc., to their account holders during these unprecedented times of huge monetary requirements. Out of a multitude of alternatives available for managing finances, one of the simplest is a personal loan. These loans can facilitate your big purchases that might not be possible with your monthly income. 

If you are looking for a personal loan in Pune, you have several bank options, like HDFC, ICICI, SBI, and others, that offer you the loan. Generally, personal loans are available in Pune at an interest rate that ranges from 10% to 15% p.a.

Although it might seem like an easy option to get adequate funds, it is important to comprehensively understand the concept of personal loans before applying for them. This article will shed light on crucial details of Personal Loan in Pune – Talegaon, that will help you make the best decision. 

 What is a personal loan?

A personal loan is an amount of money that you can borrow from a bank or credit union. In most cases, this loan is unsecured, i.e., it does not require any collateral. On the contrary, it is lent based on your credit score, debt-to-income ratio, free cash flow, etc. A personal loan can be used for several purposes, like buying a high-priced home appliance, paying for your education, or simply repaying existing loans. A personal loan must be repaid in fixed monthly instalments. The average interest rate for personal loans in Pune ranges from 10% p.a. to 28% p.a. for a loan amount of Rs. 0.50 lakh to Rs. 5 lakh.

Personal Loan in Pune – Talegaon – Eligibility Criteria 

To qualify for a personal loan in Pune – Talegaon, one must fulfil the eligibility criteria listed below.

Personal Loan in Pune – Talegaon: Eligibility for Salaried People

1. The loan seeker should be a citizen of India.
2. They should have a CIBIL score of 750 or higher to get the loan amount.
3. To get a personal loan in Pune, you need to make at least Rs. 17,000 per month.
4. Should be employed by a public or private company or an MNC.
5. Should have 1–2 years of working experience.
6. The loan seeker should be between 23 and 58 years old.

Personal Loan in Pune – Talegaon: Eligibility for Self-Employed Business Owners and Professionals

1. The loan seeker should be a citizen of India.
2. Should have a CIBIL score of 750 or higher.
3. To apply for a personal loan in Pune, a business owner or professional should have a yearly income of Rs. 300,000.
4. Should have three years of working experience.
5. The loan seeker should be between 23 and 58 years old.

Note: The eligibility criteria can differ depending on the loan provider.

Documentation required for a Personal Loan in Pune

It is indispensable to have proper documentation if you are looking forward to applying for a personal loan in Pune – Talegaon. Essential documents for a personal loan include:

• A duly filled application form
• Aadhar, Pan Card, Driving License, and Passport are examples of identity cards
• Address proof
• Age proof
• ITR statement for the past 3 years
• Bank account statements for the last 6 months
• Salary slips for the last 3 months

Note: Additional documents might be required, depending on your application and the loan provider.

How to find the best personal loan in Pune?

Getting a personal loan continues to become easier day by day. However, finding the best personal loan in Pune still requires research. Here are a few things that you should keep in mind:

1. Compare Interest Rates: Several banks offer personal loans. Consequently, there is competition for interest rates. Before submitting a formal application with any bank, you should compare and contrast what different banks provide. Consult a few lenders if you wish, so that they can assist you better. Finally, choose the one that offers you the lowest interest rate. 
2. No Fees Are Charged: Some lenders charge fees that can add to the amount of your loan. Before making an application, you must ensure that any such fees, like late payment fees, prepayment fees, or insufficient funds fees, are not charged by your lenders. Hidden fee amounts increase your repayment amount. So, don’t forget to ask about the payments that are included to avoid confusion and extra work in the future.
3. Duration of Funds Transfer: Before applying for a personal loan in Pune with any bank, you must also consider the time it takes to transfer funds. The duration of fund transfers differs from lender to lender. While some lenders initiate the transfer on the same day, others require up to 10 working days. Consequently, you must consider the urgency of your financial requirement before submitting your application.
4. Customer Experience: When taking financial help from a bank, you might face several complexities. From submitting your documents to the repayment of the loan, customer experience plays an indispensable role. For example, you don’t want to get stuck with a bank with lethargic operations. When looking for services, you should make sure the bank you choose has good customer service and makes it easy for you to get a personal loan in Pune.

Conclusion

A personal loan can help you meet your financial requirements. Personal loans in Pune are available at an average interest rate ranging from 10% to 28% p.a. of interest rate, depending on the borrower’s CIBIL score. People with excellent scores can get personal loans at lower interest rates than those with mediocre or poor scores.

Before applying for a personal loan, one must deeply understand the bank’s eligibility criteria. Furthermore, other crucial aspects should be considered when getting a personal loan in Pune – Talegaon, like the interest rates, types of fees included, customer services, and the time the bank takes to transfer the loan amount.

Visit the Piramal Finance website to apply online for a personal loan in Pune – Talegaon.