Documentation For Avail Personal Loan

Posted by Palak Bisht on July 13th, 2019

Documentation For Avail Personal Loan

In today's era, we all want to achieve something better in life, and for that, we have to be financially stable. We always need some amount of money to startup. Whether you want to go abroad for your higher studies or you want to set up your new business, you want some financial help to achieve that. Personal Loan helps you in your financial crises and provides you with the financial budget to accomplish that.

What is Personal Loan?

Personal Loan is a loan which is provided by the banks to the individual so that he can conquer his Financial emergency. It is an unsecured loan, which means you don’t have to submit any collateral to the bank or lender in exchange for the loan amount. You are independent to use the loan amount as per your desire. Dhanlaxmi Bank Personal Loan provides you with the special offers and best interest rates in the market.

Uses of Personal Loan

In other loans, we have to use that amount for a specific purpose, but Personal Loan is not like other loans, we are free to use the loan amount as per our need. The uses of Dhanlaxmi Bank Personal Loan are as follows:

  1.     We can use the loan amount for the renovation of our home.
  2.     To pay our Medical Bills, Personal Loan is beneficial.
  3.     Farmers can take the option of Personal Loan for their agricultural procedure.
  4.     If you want to go abroad for studies, you can opt for the option of Personal Loan.
  5.     You can opt for the Personal Loan for buying a used vehicle.
  6.     Personal Loan can prove useful to pay off your past debts.

There is no need to give any collateral to the lender, which means there are no chances of the auction of your assets by the lender. You can utilize the loan amount in the way you want to.

Urgent Documentation for Personal Loan

There are specific documents which are required for the Dhanlaxmi Bank Personal Loan. You cannot avail the services of the Loan without these documents.

  1.     Identity Proof

Aadhar Card, Voter Card, Driving Licence, Passport. Anyone of them can be used as your Identity Proof.

2.    Residence Proof

Aadhaar Card, Voter Card, Driving License,  Passport,  Ration Card, Utility bills of last three months. You can use any one of them as your Residence Proof.

  1.     Signature proof

PAN card/Driving License/ID card issued to the government staff all are considered as signature proof.

  1.     A renter applicant has to submit their rent agreement, electricity and water bill, and the address of the owner is mandatory.
  2.      PAN Card is an essential document under the KYC formality, so it is vital in your documentation procedure.
  3.     The Salaried applicant is required to submit their salary slip of the last three months and also the bank statements of the previous six months.

7.    The Self Employed applicant is required to file the ITR of the last three years and also have to provide the registration of their business.

  1.     The applicant has to give two coloured passport size photographs without the specs.

Eligibility of Personal Loan

For availing the Personal Loan, there are some eligibility rules which one has to pass. You can only get the  Dhanlaxmi Bank Personal Loan if you are eligible in the following parameters.

  1.        Age: The minimum age of the applicant who is applying for the Dhanlaxmi Bank Personal Loan should be at least 23 years.
  2.        Income: The income for the Salaried applicant should be  Rs.35,000 Per month which is applying for the Dhanlaxmi Bank Personal Loan on the other hand self-employed applicant required at least Rs18,0000 per annum income to avail the Dhanlaxmi Bank Personal Loan.
  3.         Stability of the job: The salaried applicant must be employed from at least two years in the same company whereas a self-employed applicant’s business should be running successfully from last three years.
  4.        Dhanlaxmi Bank Personal Loan is only applicable for the Permanent employees who are working in the government or private organizations but not for the interns and temporary employees.

Palak Bisht

About the Author

Palak Bisht
Joined: July 12th, 2019
Articles Posted: 6

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