Delhi City

Delhi is the capital of India. It is situated in the northern region of India. It borders the Indian state of Haryana on the north and west, south and east by Utter Pradesh.  It is the most populous city of India. It is a union territory but the political administration resembles that of a state of India. It has its own legislature, high court and an executive council of ministers.  The New Delhi is jointly governed by the federal government of India and the local government of India.  The civic administration of the city comes under the Municipal Corporation of India. The water supply of Delhi is managed by Delhi Jal board.                    

About Personal loan

If you have an urgent requirement of cash, the easiest and quickest way to get it is by taking personal loan.  Personal loan are unsecured loans that is why they require least amount of document processing time.  You don’t need any guarantor. The lender will ask for your income proofs to assess your capacity to repay. There are various banks and non-banking finance companies (NBFCs) that are providing personal loans at competitive rates in Delhi.

  Features

  • There is no need to provide any collateral and guarantor
  • The interest rates won’t change during the tenure of the loan
  • There is flexible repayment tenure which goes upto 60 months
  • You can repay the loan in easy installments
  • Repayment facility through post date cheques or ECS or auto debit.

Benefits of taking a personal loan

  • There is no restriction on where you can use the loan amount as you are not claiming any tax deduction. You can claim a tax deduction on the interest part under Section 24B, if you can prove with proper documents that the loan was taken for the construction or renovation of house.
  • The documentation requirement is minimum as compared to other loans
  • The loan amount is generally disbursed in 72 hours as the processing time is quite fast.
  • You will get a personal loan at a relatively lower interest rate compared to credit card

Documentation for personal loan in Delhi

Salaried

Self-employed

Any one ID proof-Passport, driving license,  voter ID and PAN card

Proof of identity, address proof and DOB proof for KYC

Residence proof- leave and license agreement, water and electricity bills not older than 3 months

Residence proof- leave and license agreement, water and electricity bills not older than 3 months

Salary slips for last 3 months

Audited financial for the last two years for income proof

2 passport size photograph

Address proof of office

Latest 3 months bank statement  (where salary income is credited)

Proof of residence or office ownership

 

Proof of business continuity

Eligibility criteria for personal loan in Delhi

Criteria

Salaried

Self-employed

Age

21-60 years

25-65 years

Income

Minimum Rs 15,000

Turnover of Rs 15-40 lakh and minimum PAT of Rs 1 lakh for professionals and 2 lakh for proprietorship , should be in current business for at least 5 years and minimum 3 years for doctors

Loan amount

Rs 15 lakh

 

Rate of interest

12.99%-15.50%

12.99% to 20%

Loan processing charges

1.5%-2.5%

1.5%-2.5%

Prepayment/ foreclosure charges

Nil-5%

Nil-5%

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