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Personal Loan in Nagpur
Nagpur, the winter capital of Maharashtra ranks as the thirteenth largest city in India in terms of population. The Nagpur Pact between political leaders made this city the second capital of Maharashtra. Known as the ‘Orange City’ famous for orange cultivation and trade, the city has a repute for being a major commercial and political center in the Vidarbha region. Also known as the ‘Tiger Capital of India’ and the ‘Tiger Gateway of India’, Nagpur hosts the regional office of the National Tiger Conservation Authority.
Should you face an unexpected financial condition, or a crisis expense such as a medical or health expense, or an unwarranted travel expense, which could make your life miserable while working and living in this capital region of Maharashtra, you would require sound financial advice to see you through. Such times of complications can be tackled with the backing of Ruloans personal loans in Nagpur on realistic terms. We at Ruloans are here to counsel you in your times of need at no additional expense.
Features and Benefits of a Personal Loan in Nagpur
Available as a loan that requires no collateral, you can avail a personal loan easily on the basis of your income. A personal loan has many end uses, some of which are listed below.
Medical Emergency
An emergency personal loan to finance sudden and unforeseen expenses
Travel Loan
A personal travel loan that covers expenses while on vacation or a holiday
Wedding Loan
Meet marriage related expenses with a personal wedding loan for a special occasion
Education Loan
Pursue higher studies with a personal education loan to cover your expenses
Education Loan
Pursue higher studies with a personal education loan to cover your expenses
Home Renovation
A personal home renovation loan to upgrade and improve your residence
Eligibility Criteria for a Personal Loan in Nagpur
The term Loan Eligibility in broad terms refers to your ability or capacity to avail a personal loan from a Bank or a NBFC. Lenders use Eligibility Criteria as a benchmark to decide the quantum of funds to be lent on the basis of your financial credentials such as your income, other obligations, additional source of income, etc., subject to your age, which decides your personal loan tenure. Income and age are not the only criteria for determining loan eligibility. Combinations of other factors such as your employment, your CIBIL score, etc., are also used to determine personal loan eligibility. Eligibility Criteria required are as listed below.
Age
Your age becomes an important criterion as a measure of your ability to repay a Personal Loan. As a rule, you will not be denied a personal loan should you be a person aged between 21 to 60 years.
Type Of Employment
Should you be a salaried individual, you are eligible for a personal loan.
Employment Status
Your term or period of employment becomes a measure of your reliability to repay a loan in time. A Personal loan for salaried employees dictates that you must be working for an MNC, or a Private, or Public Limited Company, with a minimum work experience of 2 to 3 years.
Income
The minimum salary or income required for a personal loan for eligibility differs from lender to lender. You as a salaried person should have a minimum salary of Rs. 15,000 per month.
Credit Score
Lenders assess your creditworthiness or ability to repay a personal loan by accessing your credit score, which derives from your credit history in your credit report. Your credit score affects the loan amount, period of credit, interest rate, and terms that you are offered. Your Credit Score (CIBIL) should be above 650.
What are the Documents required for a Personal Loan in Nagpur?
We at Ruloans are committed to making your borrowing process smooth. Documents required for a personal loan are minimal. We request you to submit correct information and papers so that your personal loan application can be processed in the shortest possible time. Documents required are as listed below.
Documents Required
Employment Proof and Income
- Company Identification Card
- 6 months Bank statement
- 3 months Salary Slips
- 2 years Form-16
Photograph
- Application with Photograph
Identity and Residence Proof
- PAN Card
- Aadhaar Card
- Electricity Bill
How to apply for a Personal Loan in Nagpur?
1
Step 1
Online Application
2
Step 2 : Apply
Click On Apply Now
3
Step 3: Fill
Fill In Personal And Financial Details
4
Step 4: Submit
Submit Application
Nagpur Personal Loan Interest Rates
Bank Name
Interest Rate
Processing Fees
HDFC Bank
10.8%
5899
ICICI Bank
11.0%
4999
Axis Bank
11.10%
0.75
Yes Bank
11.50%
4999
Kotak bank
11%
4999
Tata Capital
11.50%
0.75
IDFC bank
10.99%
1
Incred
16%
2
Fullerton
14%
1
ABFL
14%
1
Finnable
18%
1
Paysense
16%
1
Bajaj
13%
1
Bhandhan Bank
11%
1
Fibe
18%
3
Prefer
15%
2.5
Mirae
11.49%
2.5
Poonawala
18%
2.5
HSBC
10.25
0.25
How do I get a Personal Loan with the Lowest Interest Rate in Nagpur?
Most banks and lending institutions offer Personal Loan Interest Rates to a loan applicant after weighing factors such as his credit score, monthly income, occupation profile, etc. Hence, personal loan interest rates offered by as many lenders as possible, based on the credit scores and other aspects of your credit profile. Consider the following to avail a personal loan at the lowest interest rate available.
- Build and maintain your credit score of 650 or above.
- Check for pre-approved offers from banks and NBFCs.
- Make Enquiries with Banks / NBFCs with whom you already bank with, or have the deposits.
- Check for low interest rate festive offers and discounts.
- Research financial marketplace online to compare offers from lenders.
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