Yes, sure it is, there is a flexible repayment schedule available under the United Bank of India Personal Loan by which the borrower can repay his/her loan in equated monthly installments. So it means if you are salaried and worried about your monthly budget and loan repayment, United Bank of India Personal Loan has the resolution for this issue. Let’s go through this article below and grab more information on the United Bank of India Personal Loan.
What is the Eligibility Criteria for United Bank of India Personal Loan? You can avail of the United Bank of India Personal Loan only if you met the following -
These criteria are important to meet as they show that the applicant is eligible for a loan repayment. Work experience of a salaried individual depicts its permanent position while the regular income satisfies the EMI needs. For What Purpose United Bank of India Personal Loan Can be Borrowed? There are many reasons to borrow a personal loan but do you require a lump sum of money urgently? If the answer is yes, United Bank of India provides you a loan from INR 2 lakh to INR 10 lakh at an interest rate starting of 14.20% per annum. So if there is a wedding, medical emergency, requirement of lump sum for college admission, apply for United Bank of India Personal Loan. Repayment of United Bank of India Personal Loan You can repay your United Bank of India Personal Loan up to 36 months from the date of disbursement, but before superannuation. To understand this better check out the example below. Example - Mr. Ramachandra needs money for his younger son's college education, but due to the last year COVID pandemic all their savings are exhausted, so now he has been looking for a loan. A friend told him about United Bank of India Personal Loan so Mr. Ramachandra has applied for the same. He gets approval of loan amount INR 8 lakh at an interest rate of 14.20% per annum. Now it's time for him to choose the tenure and Mr. Ramachandra selected a tenure of 24 months. So as per the calculation of an EMI calculator he will pay an EMI of INR 38,486. Security for United Bank of India Personal Loan United Bank of India will require the following security for its personal loan -
Special Conditions of the United Bank of India Personal Loan For working women, United Bank of India offers personal loans at a special interest rate of 13.95%. This discounted interest rate will be applicable only for women applicants. Fee & Other Charges for the United Bank of India Personal Loan The applicant needs to pay a processing fee of 1% of the loan amount, this charge will be deducted from your disbursed loan amount, you don’t have to pay this fee upfront to the bank. The due diligence charges will apply to your United Bank of India Personal Loan if it is purchased by outsource agencies and this needs to be paid upfront. No prepayment charges will be applicable to this loan.
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A need for money can come from anywhere to anyone without caring whether an individual is employed or unemployed. This need of money can be fulfilled by different ways, and one of the popular methods is to opt for a Personal Loan. But most of the people think that a personal loan can only be availed by salaried or self-employed individuals. The reason: a personal loan is an unsecured loan. But what if you are unemployed? Well, there are several methods with which personal loan for unemployed individuals can be taken in an easy way.
In case of a personal loan, there are several factors that come into the picture such as credit score, eligibility criteria, interest rates, documents required, etc that tend to vary from one lender to another. But there are a few factors that can help an individual who is facing unemployment currently to get a personal loan. In this article, we will be telling you some of the methods by which personal loan for unemployed individuals can be taken in a hassle-free manner. Keep reading to know more about the methods! Different Methods to Get a Personal Loan for Unemployed Individuals As we said there are some methods with which personal loan for unemployed individuals can be taken. These methods are secured loans such as Gold Loan, Loan Against Property, Unsecured Loans, Loans under Government Schemes, etc. We are telling them about it below. Have a look! Unsecured Loans If you are looking for a personal loan for the unemployed, it is not necessary that you have always been unemployed. It may be possible that a person is unemployed at this moment. Such individuals can easily take an unsecured loan from a lender if they paid all their debts on time when they were employed. A brilliant repayment track makes an individual’s CIBIL score 700 or above. Any lender will like to provide a personal loan to an unemployed individual with a credit score of 700 or above. It may be possible that you may not get the required loan amount as you wished for initially, but you certainly can get a personal loan. Your eligibility will depend on your past credit behavior. One of the best things about this is individuals don’t need to submit any kind of collateral. Secured Loans The basic definition of a personal loan is it is an unsecured loan; individuals don’t need to present any collateral or security against the loan amount. Since we are talking about personal loans for unemployed individuals, and they cannot present an income proof (salary slip) or credit score as their eligibility, the lender will not like to take the credit risk. That’s why, secured loans can be a good option for such individuals. With this type of loan, individuals will need to submit some security to lenders to get the required loan amount. This security can be Gold, Property, Fixed Deposits, Mutual Fund Units, etc. You should remember that the personal loan amount against these securities will vary according to the overall value of your securities. For example, in the case of a Gold Loan, the loan amount will range from 65% to 90% of the overall gold value. Loans Under Government Scheme One of the best ways to opt for a Personal Loan for Unemployed individuals is the various government schemes. One of these government schemes is Pradhan Mantri Mudra Yojana with which unemployed women applicants can get a personal loan. One other such government scheme to get a personal loan is Pradhan Mantri Rozgaar Yojana with which individuals can get a loan amount as much as INR 5 lakh as a personal loan. Credit Score is one of the important factors that can affect your overall finances both positively and negatively. Different credit bureaus keep track of your repayment behavior and provide a score based on this. CIBIL is one of the most popular credit bureaus in India.But here, we want to focus on your attention to the CIBIL Score improvement. Several people ask this question about how to improve CIBIL Score in an easy way?
When a person wants to know the methods to improve your CIBIL score, it simply means that he or she has a pretty low score. A low score indicates that an individual has irresponsible repayment behavior which resulted in a low score. The crucial part to improve your score is to correct your bad habits related to repayment, and form a few good ones. In this article, we will be telling you all the methods that will give the answer to your question of How to Improve CIBIL Score. If you are struggling with a low score, you can apply these methods. Keep reading to know more! Let's Understand a Few Methods to Improve your CIBIL Score! As we said earlier, improving your CIBIL score is nothing but correcting your bad repayment habits, and keep doing them responsibly. When you do them for a long time, your score will improve automatically. We are showing some of the methods below that you can check. Never Miss your Bill Payment! The first and foremost thing you need to remember is to never miss your bill payment. These payments can be your credit card bills or Loan EMIs. Always try to pay them before the specific due date. When you form this habit of timely repayment, you will only increase your score. Timey Bill Payments is one of the prominent factors that affect your score. Also, one of the crucial things to pay on time is to always spend according to your repayment capacity. Don't make a Habit of Paying the Minimum Due Amount Some individuals believe that they can get on with their financial life by paying only a minimum due amount on their credit card. If you don't know what this minimum amount is, let us tell you that 5% of your overall credit card bill is known as the Minimum Due Amount. But here's a catch when you pay only the minimum due amount. The interest and other charges will be added on to the remaining amount. If you keep paying only the minimum due, it will keep piling up, and soon you will be in a debt trap. So, when you are asking answers for how to improve CIBIL Score, this is one of those things you should avoid. Use your Credit Card Limit Wisely It is advised to use only 30%-40% of your overall credit limit to improve your credit score. Suppose you have an overall credit limit of INR 1 lakh, you should try to spend only INR 30,000 to 40,000 in a month. Individuals who spend more of their credit limit are usually seen as credit hungry borrowers in the eyes of lenders. Also, when you spend less of your overall limit, you would be able to pay your bills on time. Check your CIBIL Report Regularly One of the efficient methods to improve your CIBIL score is to check your report regularly. Some people also seek answers to the question of How to Check CIBIL Score of theirs. To do the same, an individual needs to follow a few simple steps and he or she can know his CIBIL Report from which the score can be known. Checking your report regularly helps you with finding any irregularities if any. Correcting them can improve your CIBIL score score significantly. Yes, you are eligible for Fullerton India Personal Loan if you are salaried or self-employed. This loan product is for the customers to meet their unexpected financial needs for instance, expensive wedding preparations, medical emergency, home renovation expense, children education fees, etc. So, look at the article below and learn how to borrow a Fullerton India Personal Loan in the time of need.
Eligibility Criteria of Fullerton India Personal Loan If you want to borrow a loan from Fullerton India, you have to meet the following requirements.
How to Meet the Fullerton India Personal Loan Eligibility Criteria? You can meet the Fullerton India Personal Loan eligibility if you follow the instructions below:- Step 1:- Whenever you are preparing to borrow Fullerton India Personal Loan, make sure you have all the required ID proof in which your correct age is mentioned. Because if Fullerton India finds any fraudulent errors in the age of the applicant, the loan application will be rejected at that very moment. So do check your ID proof such as Passport, Aadhaar Card, Voter ID, Driving Licence, etc. Step 2:- In our second step we will recommend you to check your payslips and bank statement. Because a higher income makes you eligible for a high loan amount up to INR 25 lakh. But first check whether you meet the minimum income criteria of the Fullerton India Personal Loan or not. Step 3:Now we have come to our third step of meeting the Fullerton India Personal Loan eligibility criteria. In this you need to show Fullerton India the proof of your employment via which they will calculate your work experience. Because when the work experience of an employee is six months or one year, it gives surety to the lender that the borrower won't make a default in the repayment as his/her income will be consistent. Step 4: This is the final step of meeting the Fullerton India Personal Loan eligibility and here you just need to check the CIBIL score. How to Check a CIBIL Score for Fullerton India Personal Loan? You can check your CIBIL score online without any hassle. For this first visit the CIBIL official website and check your CIBIL Score for free if you are a new customer. And if you found that your CIBIL Score is in the range of 750-900, it is well in good. Apply for Fullerton India Personal Loan Online To apply for the personal loan at Fullerton India official website follow the steps below.
It is a widely known fact that personal loan interest rates are generally higher than other secured loans such as Gold Loan, Loan Against Property, Loan against FD, etc. One of the reasons behind this is lenders don't ask for any kind of security against the loan amount. Several individuals look to save a substantial amount when going for a personal loan. But do you know how to ensure maximum savings if you already have a personal loan and how to choose HDFC Personal Loan Interest Rate?
Well, if you already have a personal loan and want to ensure savings on your interest and EMI amount, the Balance Transfer Facility can be the right option for you. You must be thinking what exactly this facility does? Well, first of all, among the several methods out there to save, this method is a quite popular one. With a Personal Loan Balance Transfer Facility, an individual can transfer his or her outstanding principal amount to some other lender at a lower HDFC Personal Loan interest rate. Want to know more about it? Well, in this article, we will discuss the same along with an example so that you can understand better. Keep reading to know more! Role of HDFC Personal Loan Interest Rate in the Balance Transfer Facility A lot of people complain about the higher interest rates on their personal loans. One of the reasons behind this is they didn't remember to look for options when choosing the rate for them. Due to the higher interest rates, individuals find difficulty in repaying the monthly installments. So, what's the solution for this? Well, with Personal Loan Balance Transfer Facility, individuals can ensure the maximum savings as well as repay the EMI easily. Lenders allow individuals to allow a Balance Transfer facility with a few conditions. First of all, the credit score must be good which is considered to be 700 or above. For example, if an individual wants to transfer his outstanding principal balance to HDFC Personal Loan Interest Rate, HDFC Bank will check if he has a good repayment behavior. Since he is choosing a lower personal loan interest rate, the EMI would automatically be lower than before. During this whole process, the individual would be able to save a substantial amount. One thing you also need to remember that lenders also charge a One-time Processing fee on the Balance Transfer facility. This fee generally depends on the outstanding principal balance. Now, let's understand how much an individual can save with the Balance Transfer facility with an example. Suppose an individual has a 5-year personal loan of INR 4,50,000 at an interest rate of 19.50% per annum. For this amount, he must be paying an EMI of INR 11,797 with an interest outgo of INR 2,57,844. Now, after two years, he wants to switch to a lower HDFC Personal Loan Interest Rate of 14.30% per annum so that he can transfer his outstanding principal balance to HDFC Personal Loan Facility. At this time, his principal balance was INR 3,19,632. For this amount, the new EMI amount will be INR 19,971 and the interest outgo will be INR 75,320. As you can see that the new EMI amount is quite lower than the previous one which indicates that when you are choosing a lower HDFC Personal Loan Interest Rate, you can easily save money. Similar to the EMI amount, you can save on interest too. This is why individuals choose to opt for a Balance Transfer Facility. Some of the other methods to ensure maximum savings on a Personal Loan are Prepayment Facility, Choosing a Lower Interest Rate, Shorter Tenure, etc. You can calculate all the savings with the help of the HDFC Personal Loan EMI Calculator without any stress. Just put a few details into it and you are good to go. It is common that we often find ourselves in a situation where our finances are low. But do you know what to do? If not, let us tell you. If you are in an urgent need of a lump sum and your savings doesn’t meet the need, in such a situation you should apply for a Canara Bank Personal Loan. Because using the loan amount first the requirements will be met and second the interest rates are very affordable, so it won’t impact your monthly budget. Let's read this article and know more about the Canara Bank Personal Loan and its features and benefits.
When Canara Bank Personal Loan Will be Helpful to You? There is no specific situation to borrow a Canara Bank Personal Loan, as it is a multi purpose loan which can be used for various needs such as wedding expenses, home renovation, education fees, travel expenses, medical bills, etc. You just need to ensure that you borrow an accurate amount from Canara Bank as per your need. Because borrowing a high loan doesn’t make sense when your requirement could be met with a lower amount. What is the Canara Bank Personal Loan Interest Rate Now? If you apply for a Canara Bank Personal Loan today, you will get an interest rate from 11.25-13.30% per annum. And for your information the Canara Bank Personal Loan interest rate is fixed, which means they won’t change during the repayment period. So if you get an interest rate of 11.25%, it means this would be the same during the repayment period even if the repo linked lending rate changes. Currently the Canara Bank repo linked lending rate is 6.90%. How to Repay Canara Bank Personal Loan? You can repay the Canara Bank Personal Loan in equated monthly installments, but first you need to select a tenure for it. Canara Bank has provided you the option of 12-60 months for the repayment of the personal loan, so make sure you decide the suitable tenure for your Canara Bank Personal Loan as per your monthly income and current obligations. Am I Eligible for Canara Bank Personal Loan? Yes, you are a confirmed employee of the Central or State Government, Reputed PSUs or Joint Stock Companies, Corporates Companies, Public Limited Companies, Private Institutions, Lecturer, Asst. Professors, Professor of a College, Research Institute and University, employee of an IT/BT Company. Is there any Overdraft Facility? Yes, you can use the Canara Bank Personal Loan Overdraft facility up to INR 3 lakh. This Canara Bank overdraft facility is subject to renewal once in two year. But the renewal period may be extended to the top executives in the cadre of secretary, additional or joint secretaries and above in central governments or secretaries to State Government and top executives of big corporate or public sector undertakings such as Chairmans, MDs EDs or such equivalent post only. So apply for Canara Bank personal loan today and meet all your financial needs in a minute. To apply, visit any of the nearby canara bank branches or its official website. After submitting your kyc and income proof along with your loan application form, you will get your loan amount instantly in your bank account. |
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