Get a personal loan in Bikaner now from Top 10 banks in Bikaner for getting a personal loan that are mentioned here in this article. A personal loan is an unsecured loan or unsecured debt. A personal loan is an easy loan facility which is provided by the banks for personal use.
Why personal loan is called unsecured debt or unsecured loan?
Personal loan is called unsecured debt because it does not need any collateral like property papers, FDs, gold, insurance policy, etc. Personal loan is a medium-term loan, his life span is from 1-5 years. A personal loan is required minimal paperwork and provides maximum benefit for a loan which is required in an emergency like medical issues, marriages, etc. However, Personal loan is required high-interest rate as compared to normal loan but due to heavy competition in the banking sector towards a personal loan, the bank provides low-interest rate. A person takes a loan if there is a need for money for their personal use.
Feature of Personal Loans :
Personal loans provide many features as follows –
1. Easy to apply
A person can easily apply for the personal loans which are provided by the banks. Banks want to make their interface for personal loan application easy or to make their interface more easy to surf.
2. Interest Rate
As compare to normal loan, personal loan having a high-interest rate. However, In the modern scenario, the competition increases day by day due to which interest rate may vary from bank to bank.
Suppose, you need 1 lakh as a personal loan from the bank and the bank credited you with 1 lakh when the repayment is done you see that there is the repayment of 110000 lakh where 10000 is the total interest rate on the loan of 1 lakh.
3. Minimal Paperwork
Personal loan required minimal paperwork or less paperwork as compare to normal loan to provide easy to the customer. Due to this minimal paperwork customer-preferred personal loan.
4. Purpose of the loan
A personal loan achieved by the customer can use it anyway either medical purpose or marriage. The bank never asks the customer where he or she want to use this money.
5. Life span of loan
A personal loan is a medium-term or medium period loan of 1-5 years. The customer can choose the amount of EMI as a repayment to the bank per month according to their capability.
6. Amount of money
Personal loan which is issued to the customer having amount ranging from 20000 to 20 lakhs which is as enough for the personal use.
7. Repayment
For the repayment of the personal loan, there are many options available which a customer can choose according to their convenience.
- Customer can repay the loan amount to the bank through cheques.
- Customer can repay the loan amount to the bank through the automatic deduction process which directly occurs in the bank account.
- Customer can also repay the loan amount through post cheque.
Eligibility Criteria of personal loan
The eligibility criteria of personal loan are varied in self-employed and salaried persons. There are some mandatory document which is need in both self-employed as well as in salaried.
- Pan Card
- Aadhaar Card
- Voter Id
- Utility Bill
- Bank Statement
Top 10 Banks in Bikaner for getting a personal loan
List of Top 10 Banks in Bikaner for getting a personal loan in 2019 are as follows:
- SBI Personal Loan
- HDFC Personal Loan
- Axis Personal Loan
- Bajaj Finserv Personal Loan
- Bank of Baroda Personal Loan
- Standard Chartered Personal Loan
- Citi Bank Personal Loan
- ICICI Bank Personal Loan
- Kotak Mahindra Personal Loan
- Tata Capital Personal Loan
1. SBI Personal Loan
State Bank of India of having different types of personal loan for different purpose. Personal loan by SBI is for customer different needs like medical emergency, marriages, home renovation, foreign trip, etc.
Why SBI is at 1st position in term of Personal loan?
SBI is at 1st position in term of Personal loan due to quick processing of personal loan.
SBI offers personal loan up to ₹ 20 lakhs and the interest rate is 11%(without including other charges).
Document Needed:
- Identity Proof: Passport, Pan Card, Voter ID Card, Driving License, Aadhaar Card
- Address Proof: Ration Card, Bank Account Statement, Electricity Bill, Telephone Bill, Driving License, Aadhaar Card.
- Income Proof: Bank Account Statement, Salary Slip.
2. HDFC Personal Loan
HDFC provides personal loan at an interest rate of 10.75%. It provide us personal loan ranging from ₹ 50000 to ₹ 75lakhs.The HDFC Bank gives 60 months of tenure to repayment of the loan amount.
HDFC provides lowest EMI of ₹ 2,162 per month.
In HDFC, the amount of personal loan is reflected in your account in 4 hours. HDFC Bank is well known for its quick service and fast processing of personal loan application.
Document Needed for Salaried Person:
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
Document Needed for Self-Employed Person:
- Identity Proof: Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 2 years audited financials, 6 months bank statement.
- Business proof: VAT, service tax registration, business address proof.
3. Axis Personal Loan
Axis bank provides quick processing of loan application, instant and easy way to apply and it is also known for its customer service.
Axis bank offered an interest rate of 11.25% for salaried persons working with reputed companies and the interest rest for self-employed person is higher than salaried person. It provides us with personal loan ranging from ₹ 50000 to ₹ 15 lakhs. It provides the lowest EMI of ₹ 2,187 per month and provides maximum 60 months of tenure. Their interest rate varies from 11.25% to 24%.
Click Here: Best bank in bikaner for opening a savings account
Document Needed for Salaried Person:
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement, Ration Card.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
Document Needed for Self-Employed Person:
- Latest bank statement
- Latest ITR or form 16
- Business continuity proof
4. Bajaj Finserv Personal Loan
Bajaj Finserv provides quick processing of loan application within 5 min, instant processing of loan within 24 hours and easy way to apply and it is also known for its customer service.
Bajaj Finserv provides loan up to ₹ 25 lakhs without providing any collaterals. It provides tenure ranging from 12 months to 60 months.
Bajaj Finserv charge interest rate ranging from 11.99% to 15.50%.
Document Needed for Salaried Person:
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement, Ration Card.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
5. Bank of Baroda Personal Loan
Bank of Baroda provides personal loan with zero prepayment charges, It also provides quick approval of loan with great service. Bank of Baroda provides personal loan to the customer ranging age group from 21 years to 60 years. Bank of Baroda provides personal loan ranging from ₹ 50,000 to ₹ 2 lakhs.
It provides tenure from 12 months to 36 months with the interest rate ranging from 11.60% to 16.60%. It offered the lowest EMI of ₹ 3,302 per lakhs.
Click Here: How to apply for a home loan in Bikaner
Document Needed for Salaried Person:
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement, Ration Card.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
6. Standard Chartered Personal Loan
Standard Chartered Bank provides personal loan to the customer having a credit score of more than 750.
Standard Chartered Bank provides it’s customer great value to the customers and gives instant approval of loan application and provides loan ranging from ₹ 1 lakhs to ₹ 30 lakhs.
It provides 60 months of tenure with the interest rate ranging from 12% to 17% varies for salaried person or self-employed persons.
Document Needed for Salaried Person:
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
Document Needed for Self-Employed Person:
- Identity Proof: Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 2 years audited financials, 6 months bank statement.
- Business proof: VAT, service tax registration, business address proof.
7. Citi Bank Personal Loan
Citi Bank provides personal loan with instant paperless approval to the customers. Citi Bank provides personal loan amount ranging from ₹ 1 lakhs to ₹ 30 lakhs for salaried persons and provides ₹ 1 lakhs to ₹ 25 lakhs to self-employed persons
Citi Bank personal loan interest rate 10.99% for salaried person and 14.99% interest rate for self-employed persons.
Citibank provides tenure ranging from 12 months to 60 months.
Document Needed for Salaried Person
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
Document Needed for Self-Employed Person
- Identity Proof: Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 2 years audited financials, 6 months bank statement.
- Business proof: VAT, service tax registration, business address proof.
8. ICICI Bank Personal Loan
ICICI Bank provides great services to the customers. Customers can also apply online for a personal loan or visit to the nearest branch. Banks require minimal documentation for the application and process loan application quickly.
Personal loan amount reflect in your account within 3 seconds.
ICICI Banks provide personal loan up to ₹ 20 lakhs with the interest rate ranging from 11.25% to 17.99% per annum and provides tenure from 12 months to 60 months.
Document Needed for Salaried Person
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
Document Needed for Self-Employed Person
- Identity Proof: Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 2 years audited financials, 6 months bank statement.
- Business proof: VAT, service tax registration, business address proof.
9. Kotak Mahindra Personal Loan
Kotak Mahindra provides personal loan for the customer easy, provide an easy interface to apply for a personal loan, provide a great deal to the customer. Kotak Mahindra provide us personal loan ranging from ₹ 50000 to ₹ 15 lakhs with tenure of 12 months to 60 months. Kotak Mahindra charges interest rate ranging from 10.50% to 19.99%.
Document Needed for Salaried Person:
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
Document Needed for Self-Employed Person
- Identity Proof: Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 2 years audited financials, 6 months bank statement.
- Business proof: VAT, service tax registration, business address proof.
10. Tata Capital Personal Loan
Tata Capital personal loan provides it’s customer great value to the customers and gives instant approval of loan application and provides loan ranging from ₹ 75,000 to ₹ 25 lakhs.
It provides 60 months of tenure with the interest rate ranging 11.25% varies for salaried person or self-employed persons.
Document Needed for Salaried Person
- Identity Proof: Aadhaar Card, Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 3 months of bank statement, 3 months of payslip, 2 years of form 16.
Document Needed for Self-Employed Person
- Identity Proof: Voter ID Card, PAN Card, Driving License.
- Address Proof: Utility Bill up to 3 months, Driving License, Registered Rent Agreement.
- Income Document: 2 years audited financials, 6 months bank statement.
- Business proof: VAT, service tax registration, business address proof.
