Many lenders offer personal loans. There are Banks, NBFCs, and instant loan apps that provide instant persona loans. Every one of the different internet rates, loan tenure, and loan amount. However, some lenders are unique. They offer exceptional services to the borrowers.
So, today, we are going to tell you about 3 Unique personal loan lenders. If you are looking for a personal loan or you plan to take one in the future, do check out then. You won’t be disappointed. Let’s look at those lenders.
Bank of India Personal Loan
First, on our list is Bank of India loan. Founded in 1969, Bank of India has many financial products under its umbrella. It is one of the biggest names in corporate banking, retail banking, and other financial operations. Here are its details.
| Loan Amount | Up to Rs 10 Lacs |
| Interest Rate | From 11.70% to 14.20% |
| Processing Fee | 2% of the loan amount |
| Loan Tenure | Up to 60 Months |
Eligibility Criteria for Bank of India Personal Loan
- The applicant age should be between 21 Years and 58 Years.
- The applicant minimum salary should be at least Rs 15,000.
Documents required for Bank of India persona loan
- One Signed Photograph
- KYC Documents (Aadhar Card, PAN Card, ETC)
- Processing fee cheque
- Latest salary slips and bank statement for the last 6 months
Induslnd Bank Personal Loan
The second choice on our list is Induslnd bank personal loan. Induslnd bank offers personal loans with documentation, fast processing, and quick disbursal. Here are its loan details.
| Loan Amount | From Rs 50,000 to Rs 15 Lakhs |
| Interest Rate | From 11.00% to 32.00% |
| Processing Fee | Up to 2.50 % of loan amount excluding Tax |
| Loan Tenure | From 12 months |
| Collateral | Nil |
| Pre-Payment charges | 4% of the remaining amount after repayment of 12 EMIs. |
Eligibility Criteria for Induslnd Bank
- The applicant age should be between 21 and 60 Years.
- The applicant’s minimum monthly salary should be Rs 25,000.
- The applicant should have an overall 2 Year working experience with 1 year in the current organization.
Documents Required for Induslnd Bank Personal Loan
- Identity proof (Aadhar Card, Passport, Voter ID, etc.)
- Address Proof
- Income proof (Latest salary slips, Bank statement for last 3 Months)
- Evidence of continuation of Business (For Self- Employed professionals)
Bajaj Finserv Personal Loan
The third lender on our list is Bajaj Finserv personal loan. It offers one of the lowest personal loan interest rates in the market. You can use it for wedding, travel, medical emergency, or higher education.
Bajaj FinServ can disburse the loan amount within 72 hours. Here are its loan details.
| Loan Amount | Up to Rs 25 Lakhs |
| Loan Tenure | From 12 Months to 60 Months |
| Interest rate | 10.99% to 16.00% |
| Processing fee | 3% of the loan amount |
| Pre-Payment charges | Up to 4% after paying 1st EMI |
Eligibility Criteria for Bajaj FinServ Personal Loan
- The applicant must be a resident of India.
- The applicant age should be between 23 and 55 Years of Age.
- The applicant minimum salary should be Rs 25,000 per month.
Documents required for Bajaj FinServ Personal loan
- KYC Documents (Aadhar Card, Driving License, Passport ETC)
- Last 3 months salary slips
- 3 Months bank statement
How to apply for a personal loan?
Now, after reading about each lender, you are ready to apply. The process is different for each lender, however here we are giving a general idea.
- Download the lender app from Google play store or visit the website. (For Bank of India, you need to visit the nearby branch)
- There, first, check the eligibility.
- If you are eligible, then submit the application form along with uploading documents.
- The representative from the lender will give you a call, verifying the details.
- Once the details are verified, you will receive the amount directly into your bank account.
Again, we are saying; the process will vary from lender to lender. The factors which are going to affect your loan application are your salary, CIBIL score, and Your employment history. If you are working within a company for more then 1 year, there are strong chances of getting a persona loan. If you want to know anything else, do let us know.
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