How to apply for a Personal Loan ? - S & P Bank Loan Services

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Apply Personal Loan for turning dreams into Reality Today

Now a days, you can get personal loan in hours. Personal Loan is unsecured loan for any immediate cash requirements. Person loan can be taken for any purpose too. Banks approves loan based on age, income, CIBIL score and employment. Bank does not look at the purpose of personal loan. Apply Personal Loan for turning dreams into Reality.

Personal Loan – Immediate fund raiser.

Let it be Child education, Marriage, buying gadgets, medical emergency, or other needs. vacation trips, unplanned expense Covid-19 lock down situation and anything else. Personal Loan is your instant fund raiser. Let us discuss how to apply for a personal loan for various types of applicants.

Personal Loan Agency

Each bank has its exclusive area wise personal loan toll free number to close customer queries. Also to support with all essential steps for approval of term loans. Most of the banks / financial institution have their call centre / toll free no. for Chennai. You can contact the numbers for resolving the queries.

Personal Loan for Salaried Employees

Salaried people get a fixed cash inflow every month. To meet unplanned and emergency situation, personal loan helps. Personal loan for salaried employees include people working in private or govt concerns. Salaried employees has more offers and concessional interest/fees in personal loans. Compared to self-employed professionals/owners.

Personal Loan for Government Employees

Govt staff personal loans covers employees of Public Sector of Central, State & Local Bodies. All banks have separate loan product for personal loan for govt employees. Few banks offer separate loan product for govt pensioners. Here loan amount depends on pension income.

Personal Loan for private employees

How can you avail personal loans if you are a Pvt Firm Staff ?. Who is a Pvt firm employee ?. Private employees include who working in MNC, Private Ltd Companies MSME & proprietor firms. Banks have special product for private company employees. Some companies and bank provide personal loan with best offers.

Personal Loan for Self Employed Professionals

Who are all Professional ?. In fact, Bank classifies them as follows

Doctors
Dentists
Practicing Chartered Accountant
Practicing Company secretaries
Advocates
Architects,
consultants ,
Interior designers

Most of all, These people are classified as self-employed professionals. By all means, Banks has a special loan product for this category too.

Personal Loan for Self Employed Owners

For instance, Self Employed owners who are not salaried. By the way, They earn income through their own incorporated entities. On the other hand, They can be into manufacturing, trading and service firms. In the same way, Separate loan products available for this category too.

Documents required for Personal loan

Whats are the Documents in need ?. They are as follows

Signed loan application,

KYC document,
Last 3 months bank statement,
Last 6 month bank passbook.
Latest salary slip,
Latest form 16.
Identity proof includes PAN card/Voter id / Aadhar Card/Passport/Driving License.

Bank may need one or two documents for identity proof. Self-employed professionals and owners submit income tax returns and financial statements. They will always not need salary slip and Form 16.

Sanctioning Process

Once you submit the documents, banks checks for credit health of borrower via CIBIL score. As you are aware, if you have CIBIL score above 700, your application is further processed. If you’re CIBIL score is Low and below 700, please refer our article Tips to improve CIBIL score furthermore. After Credit health, bank checks for authenticity of all documents submitted in the mean time.

Personal Loans for the emergency fund requirements

Based on salary/ income earned, loan amount is fixed. Even More, With the advent of technology, banks allow you to submit scanned documents . Without visting the branch, you can get the loan from your place. In Covid- 19 issues, many lenders offer personal loans to face the emergency fund whenever you need. Stay home and arrange funds in hours through personal loan.

Contact Top Bank Loan Consultants to Apply Personal Loan

Firstly, You have to select the loan product based on your employment. say Govt employee, Private employee, self-employed professionals or self-employed owners. In addition, Specific loan category provides more offers to your need. You should also be careful in choosing your product. We are also here to support you with all types’ doubts with regards to your personal loan. Contact Top Bank Loan Consultants to Apply Personal Loan.