Personal Loan Macherla

personal loan

Personal Loan Macherla are given to meet the personal needs and aspirations of people. It is provided on the basis few basic criteria like an individual’s income level, repayment capacity, credit and employment history and place of residence.

Why Personal Loan Macherla

  • Firstly, Reasonable Interest  Rates.
  • Secondly, the applicant can avail a loan up to 30 Lakhs.
  • After that No cosigner required.
  • Further, most, no need to mortgage any collateral/security.
  • Lastly, it is a multipurpose loan, can be used in any financial crises.

Interest Rates

The interest rate for a personal loan varies from bank to bank, and also it depends on other factors such as income, CIBIL score, and so on. The minimum interest is of 10.70% PA.

Also, banks charge some amount of the loan amount from the customers to process their loan application. It is generally between 0-2% of the total loan amount.

Furthermore, bank charges borrowers with a fee when they pay the loan EMIs before the committed date, which is typically between 0-2% of the outstanding loan amount.

Eligibility of Personal Loan Macherla

It is based on which bank has to approve the request of the applicant regarding the credit there are two categories of the applicants:

1.Salaried

2.Self-employed

There are various eligibility criteria for both applicants

Salaried Applicants

  • Firstly the age of the customer should at least 21 or above.
  • The second thing is the salary of an applicant must have 18000 or more.
  • After that, 650 CIBIL scores is required to get the loan.
  • Further, most the applicant will get a loan from his/her nearest branch only.
  • Lastly, ITR (Income Tax Return) is mandatory for the last 2 years.

Self-Employed Applicants

  • Firstly, under self-employed age, criteria must be 21 or above.
  • Although ITR (Income Tax Return) is required for the last 3 years.
  • After that, the business should have been working for last 3 years.
  • Moreover, the customer has a good credit score, no dues should be outstanding.
  • Moreover, 5 lacs annual income is needed.
  • Lastly, the bank statement of the previous 3 months is needed.

Documents for  Personal Loan Macherla

It includes 2 categories

1.)    Salaried

2.)    Self Employed

Salaried

  • Firstly, Id proof ( Driving License, Passport, PAN card, Aadhar card, Voter card).
  • After that, residence Proof (Passport, Driving License, Aadhar card, Ration card).
  • Moreover, Photo ID proof (Passport, Aadhar card, Driving License) any 1 of them.
  • Besides that, the latest Bank account statement of 3 months.
  • Although, Salary slip of the previous 3 months.
  • Moreover, 2 colored passport size snap.
  • Lastly, Employment certification.

Self Employed

  • Firstly, ID proof (Voter card, Aadhar card, pan card, Passport, Driving License, Passport).
  • After that, ITR is required for the previous 3 years.
  • Besides that, A business should be registered and working for at least 3 years.
  • Moreover, Proof of Ownership (bill of purchases, sales).
  • Lastly, Form 16.

How to apply online for Personal Loan Macherla ?

The Process of applying is pretty simple. You need to follow these steps:

  • Firstly, fill in your personal information and employment details online on bestloandeal.in
  • Next, our relationship manager will suggest you the best possible loan according to the desired Personal loan amount and the repayment options.
  • Finally, you will get online approval within three minutes, and the money will reach your bank account within 48 hours.

Tenure of Personal Loan Macherla

Loan tenure would be fall between  1 year to 5 years.

About Macherla

Macherla is a town in Guntur district of the Indian state of Andhra Pradesh. It is the headquarters of Macherla mandal in Gurazala revenue division.

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