Personal Loan for Salaried
Personal Loan is a kind of unsecured loan, given to borrowers for personal use and does not require
any security or collateral. While drawing the Personal Loan you are not required to disclose the end use
of the borrowed money and can pay off the amount of loan in easy instalments.
Quantum of Personal Loan
Quantum of Personal Loan for salaried person is estimated on the basis of income of applicant,
credit score, capacity of repayment, and steadiness of source of income for such applicant.
Repayment schedule provides the amount of each EMI, due dates and breakup between principal and
interest components. It also provides the outstanding principal after realization of each EMI.
Minimum age of Applicant : 21 years
Maximum age of Applicant at loan maturity : 60 years
Minimum employment : Minimum 2 years in employment and minimum 6 months in the current organization
Minimum Net Monthly Income : Rs 40,000 Family Income / Rs 25,000 per month (Loan applicable for Delhi/NCR only)
List of Documents required
Identity proof: Pan Card/Passport/Election Card/Photo Identity issued by Government, Defence
Services, Public Sector undertaking/Driving Licence/Photo Credit Card/Employees ID Card, Letter/card
issued by UIDAI containing the details of name, photograph, address and Aadhaar number.
Income proof: Latest salary slip showing all deductions or Form 16 along with current
dated salary certificate or ITR (last 2 years).
Residence proof: Bank Account Statement/ Latest Electricity Bill/ Latest Telephone Bill/ Latest
Credit Card Bill/ Employers letter certifying current mailing address/Passport(Valid)- provided the
passport address is present address mentioned in application form / Existing Registered House Lease/
Government I-card with photo and address/ Ration Card/ Latest Property Tax / Water Tax bill.
Signature Verification: Valid Passport /Pan Card/ Processing Fee Cheque/ Banker's
Proof of telephone: Latest bill of landline or mobile or WLL stating name of borrower or
address of borrower.
Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant,
Documentary proofs required may vary from customer to customer
Application Fee Charges
Rate of Interest 16% to 20%
Loan Processing Charges Minimum Processing Charges
Cheque/ Instrument Swap charges Rs.500 per instance + Service Tax as applicable
Prepayment/ Forclosure Charges 2%