Guntur city is famous for its rich Telegu heritage which still holds the people together in this part of India. Getting a personal loan in Guntur can be a tricky task for people with bad credit history.
Today with Money View you can apply for a personal loan up to 5 lakhs from the comfort of your home. Here’s what you should keep in mind when looking for a good company as well as the loan criteria that help you choose the best company.
We provide personal loans in guntur for both salaried employees and self-employed individuals. The loan offers fast approval, flexible repayment options, an easy application process, and excellent customer service. Other benefits include :
Flexible Repayment Term
Designed to be both stress and hassle-free with flexible repayment tenures of up to 60 months.
24 Hour Loan Transfer
Your loan will be approved and the funds deposited into your account in 24 hours. You can rest easy knowing that your sensitive information is safe with them.
Online Transactions
Innovative solutions paired with a user-friendly platform have made it easy to get a loan online in Guntur. Customers find smart ways to connect people with money to those who need it.
Affordable Interest Rates
Starting from 1.33% per month. This equates to lower EMI’s and higher savings which means the customers can pay the loans accordingly.
Simple Eligibility Criteria
In only two minutes you can find out if you’re approved for a Personal loan in Guntur. There are some terms like credit scores, in-hand income which will decide if a loan will be credited into the account or not.
Higher Loan Amounts
The loan amount varies between Rs. 5,000 and Rs. 5 lakhs and is based on your specific requirements.
Before going for a personal loan, it is essential to understand the eligibility criteria and what an applicant needs to do to become eligible for it.
To be eligible for a personal loan in Guntur, applicants must be over 21 years of age, and no older than 57 years of age.
To be eligible for a loan, applicants must have a minimum CIBIL score of 600 or a minimum Experian credit score of 650.
For a personal loan, the officials will check whether the salary credited comes directly into the bank account or not.
As long as your monthly income is greater than Rs. 13,500, you can immediately get your loan approved.
There are credit score eligibility criteria that help potential applicants to know about the rates. The credit score is not a comprehensive guide to someone’s financial and credit history. It is primarily used only for the approval of loans or credit cards, and shouldn’t be used as the sole criteria for making financial decisions.
When you look for a personal loan, you want to make sure that it suits your personal financial goals. If you’re looking for a personal loan in Guntur, it’s important to do your research so that you get an affordable personal loan that fits your financial requirements. You should also check for hidden charges, like pre-payment charges, and penalty fees.
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Charges |
Amount |
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Interest on Overdue EMIs |
If you postpone repayment of your loan, personal loans in Guntur will have to charge you a penalty of 2% per month. |
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Loan Processing Fee |
A fee is a one-time charge and variable, based on the loan amount and also varies from 2% to 8%. |
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Interest Rate |
The interest rate on your loans is 1.33% per month. |
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EMI Cheque Bounce Charges |
If your cheque is returned due to insufficient funds, personal loans in Guntur will charge you a service charge of Rs 500. |
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Foreclosure/Part-prepayment |
● Full loan repayment must be made before the scheduled payment period. ● Personal loans in Guntur will follow all legal contracts when dealing with foreclosure. |
For the proposed foreclosure and part prepayment, there are certain procedures that applicants need to follow for an application. Personal loans in Guntur are followed by these things.
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Fees |
Amount Charged |
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To process your foreclosure, personal loans in Guntur require the following payments toward the arrears on your EMI’s from the previous month |
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TENURE FORECLOSURE |
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0-6 months Not allowed for this period |
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7-18 months Pay EMI for first 6 months |
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18+ months Pay EMI for first 12 months |
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All personal loans are treated as a single transaction. For this reason, partial payments are not allowed upon approval. |
Each lender requires different documents before they approve a loan package. The specific documents include proof of your employment, pay stubs, credit reports, and bank statements. For a personal loan in Guntur, they require:
1. Income Proof
The salaried individual will need to submit their salary certificate from the employer, while the self-employed individual will need to submit an income tax return (ITR). Personal loan in Guntur requires these certificates :
Business Individuals: Please provide three months of bank statements in PDF format or an income statement related to your loan application.
Job Individuals: If you are a salaried employee, we kindly request that you provide evidence of your most recent salary account statement showing your most recent three months of income.
2. Address Proof
To avail of a personal loan in Guntur, it is essential to provide address proof to the officials. In the address proof, they need to provide anyone document from the list given below :
Aadhaar Card
Indian Passport
Voter ID card
A Driver’s License
A bill of Electricity, Water, Gas but it should be dated within the last 60 days.
3. Identity Proof
The PAN card is a card issued by the Income Tax Department of India. It is needed by anyone who wants to pay taxes or file an income tax return. However, for a personal loan in Guntur, if a PAN card is rejected, then you need to show one of the documents mentioned below :
Aadhaar Card
Indian Passport
Voter ID card
A Driver’s License
Verification is a standard part of the loan process. These documents will ensure that your loan amount can be processed quickly and efficiently.
You can get an instant loan in Mumbai, also known as personal loans in four easy steps -
Check your eligibility
Visit the Money View website or loan app. Provide the required details and we will let you know your eligibility in 2 minutes.
Choose your loan plan
Based on the options provided, select the loan amount and repayment term of your choice
Upload required documents
Upload all of the necessary documents online for verification
Loan transfer to your bank account
Post verification and submission of loan agreement, the loan amount will be credited to your account within 24 hours
Points to Note:
Before you apply for personal loans in Guntur, there are a few things we need to discuss. These are :
Individuals who are residents of Guntur, India or those who conduct a business in Guntur may avail the online personal loans available at online financial aid companies in the city. One can easily apply for personal loans at many financial access providers online.
