Personal Loan.

Salaried EMPLOYEE Loans

Personal Loans for Salaried class include people working in private or government enterprises – and does Salaried Doctors working in health institutions, CAs working in companies, employees of Public listed and Private limited companies , MNCs, SMEs and Government Sector employees including public sector undertakings.
ELIGIBILITY CRITERIA FOR SALARIED EMPLOYEE LOANS:

• Minimum AGE of applicant: 21 years
• Minimum employment TENURE:  Total work experience required is 2+ years and current company minimum 1month
• Minimum NET MONTHLY INCOME:   At least INR 15,000 per month.

DOCUMENTS REQUIRED FOR SALARIED EMPLOYEE LOANS:
Your KYC Documents:

1. Proof of Identity:  Your Passport or Voter ID or  Driving License or  AADHAAR Card
2. Proof of Address: Ration card or Driving License or Voter ID or  Utility Bill ( Water or Electricity Bills within last 3 months)  or  Registered  Rental Agreement  or  your Passport
3. PAN Card

Your INCOME Documents

1. Bank Statements :  Latest 3 Months bank statements  or  6 months bank passbook
2. Salary Slips:  Salary payroll slips, along with latest Form 16 or ITR or your Company Offer Letter.

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Self Employed PROFESSIONAL Loans

Self Employed Professionals include self – employed Doctors, Chartered Accountants, Company Secretaries, Architects, and Business Consultants – many service professionals and software consultants too fall in the same category.
ELIGIBILITY CRITERIA FOR SELF EMPLOYED PROFESSIONAL LOANS:

• Minimum AGE of applicant: 25 years
• Minimum employment TENURE:  Minimum 3 year in business with proper certification and licences
• Minimum NET ANNUAL INCOME for the individual:   At least INR 500,000 per year.

DOCUMENTS REQUIRED FOR SELF EMPLOYED PROFESSIONAL LOANS:
Your KYC Documents:

1. Proof of Identity:  Your Passport or Voter ID or Driving License or PAN Card or AADHAAR Card
2. Proof of Address: Ration card or Driving License or Voter ID or  Utility Bill ( Water or Electricity Bills within last 3 months)  or  Registered  Rental Agreement  or  your Passport
3. Date of Birth Proof : Driving License  or  PAN Card  or  Passport  or  Birth Certificate  or  10th  or  12th mark sheet bearing date of birth or AADHAAR Card

Your INCOME Documents

1. Bank Statements:  Latest 3 Months bank statements or  6 months bank passbook
2. Balance Sheets and Profit/Loss Sheets financial statements for the last 2 Years and duly certified by a Chartered Accountant.
3. Latest Income Tax Returns

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Self Employed OWNER Loans

Self Employed OWNERS include business owners having proprietorship, business partnership firm, one person company or small private company in the business of Manufacturing, Trading or Services – we cater to all these Micro, Small and Medium Businesses and take special pride in arranging funds for them – they are the real employment and prosperity generators for India.

ELIGIBILITY CRITERIA FOR SELF EMPLOYED OWNERS  LOANS:

• Minimum AGE of applicant: 25 years
• Minimum Business TENURE:  Minimum 3 year in business with proper certifications and government license, and preferably experience in the same industry
• Minimum NET ANNUAL INCOME of Business:   At least INR 1 Cr per year.
• Profitability: Business must be making profit for at least last 2 years

DOCUMENTS REQUIRED FOR SELF EMPLOYED OWNERS  LOANS:
Your KYC Documents:

1. Proof of Identity:  Your Passport or Voter ID or Driving License or PAN Card or AADHAAR Card
2. Proof of Address: Ration card or Driving License or Voter ID or  Utility Bill ( Water or Electricity Bills within last 3 months)  or  Registered  Rental Agreement  or  your Passport
3. Date of Birth Proof : Driving License  or  PAN Card  or  Passport  or  Birth Certificate  or  10th  or  12th mark sheet bearing date of birth or AADHAAR Card

Your Business KYC Documents:

1. Proof of Business Continuity:  Your business Trade license or Establishment and Sales Tax certificate or SSI Registration or other government regulations
2.  Certificate for Business Entity setup: Sole Proprietorship Certificate, Or Certified Copy of Partnership Deed, or Certified true copy of Memorandum and Articles of Association certified by Director and Board resolution (Original)

INCOME Documents

1. Bank Statements:  Latest 3 Months bank statements or 6 months bank passbook
2. Balance Sheets and Profit/Loss Sheets financial statements for the last 3 Years and duly certified by a Chartered Accountant.
3. Latest Income Tax Returns

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What is Personal Loan?

Personal Loan is an unsecured loan which is taken to meet a person’s current financial needs. There is no need for any security or collateral while applying for it. It provides you with the flexibility to use the funds according to your convenience and need. In case someone requires instant cash and it can be used for traveling, wedding, medical emergency, home renovation, or anything else, you can then simply get your hand on Personal Loans.

Hurry up! Get Loan for personal use through Finbucket and enjoy the perks. Our company is one of the best among the existing Loan companies for online personal loans.

Loan Term

1 Year to 4 Years

Maximum Loan Amount

₹ 50 Lakhs

Interest Rates

10% – 15%

Eligibility for Personal Loan

There are various kind of banks and NBFC’s that are ahead to provide Personal Loan to all applicants but for this first, the applicant must fulfill the eligibility criteria. Actually, different banks have different eligibility criteria. But the criteria that most of the banks and NBFC’s commonly adopt for the request of a Personal Loan includes the following:

Category	Self-Employed	Salaried
Age	28 years to 65 years (25 years for doctors)	23 years to 58 years
Income	Minimum turnover of Rs.40 lakhs for non-professionals Minimum turnover of Rs.15 lakhs for professionals	Rs.17,000 (Rs.25,000 for metro cities)
CIBIL Score	Above 750	Above 750
Loan amount	75 k(Min)- 15 Lakh (Max)	75 k(Min)- 20 Lakh (Max)

Where to apply for a Personal Loan?

If you are seeking a company who can help you to apply for a Personal Loan Online,fast and easy way then here at Finbucket is for you:

• If you are seeking a company who can help you to apply for a Personal Loan Online,fast and easy way then here at Finbucket is for you:
• Our company has collaborated with various public sector and private banks to offer customized personal loans for its users. Here, you can easily apply for personal loans online with the help of our expert team.
• We help in the calculation of loan and checks for the user’s personal loan eligibility instantly.
• Here, instant quotes are offered to the eligible loan applicant according to their profile and with discounted interested rates.
• We are also allowing users to compare the best deal on their own. Hence, the users can simply compare the loan offers of various banks at different rates and can choose by their own with which bank they want to go for.
• Not only this, rather feedback shared by the previous applicants acts as a helpful tool for new applicants to get the best personal loan deal.
• Finbucket generates instant e-approval as soon as the user successfully submitted his/her personal loan application.
• With Finbucket, all the applications are sent electronically to the concerned bank department assuring complete privacy and transparency.

Benefits of Personal Loan

Following are the benefits of a easy loan for personal use:

• No Limitation on end use
Personal Loans can be used for any purpose. It has no limitations for which it has been used. Personal Loan is one of the easiest ways to get cash if you require a fund.

• Quick disbursal
If you fulfill all the formalities and have a good credit score then you can get a personal loan in 72 hours. Besides, some of the banks provide the facility of online approval of personal loans for existing customers.

• No Collateral required
There is no need for collateral security as it is an unsecured loan. Hence, it is easy to get.

• Flexibility to choose the tenure
It has 7 years of tenure. So, you have the flexibility to choose a tenure which suits you the best. Longer the tenure, lower the EMI and Vice-versa. Hence, you can decide after calculating the EMI.

• Fixed rate of interest
Generally, Personal loan has a fixed rate of interest. The equated monthly installments will remain fixed for the entire loan tenure. Hence, you do not have to worry about the interest rate changes.

• Tax Benefits
In case, you use Personal loan for the construction, renovation of the house or making down payment for the house then you can avail the tax deduction of up to Rs. 2 lakh under section 24 B for the interest in a financial year. Point to be remembered here is you will have to provide enough documents to prove that the money has been utilized for that purpose only.

Top Banks providing Personal Loans in India

HDFC Personal Loan

ICICI Personal Loan

Bajaj Finserv (Finance) Personal Loan

SBI Personal Loan

Axis Bank Personal Loan

Documents required for Salaried Person

• Proof of Identification
• Address Proof

• Residence ownership proof (Any one out of the given list):
  
• Property documents
• Electricity bill
• Maintenance bill
• Office address and ownership proof (Any one out of the given list):
• Property documents
• Electricity bill
• Maintenance bill
• Proof of business existence (Any one out of the given list):
• Sales deed/ agreement (executed)
• Saral copy (3 years old)
• Copy of tax registration
• Company registration license
• Proof of Income (Any one out of the given list):
• ITR for Last 2 years of the applicant along with computation of income duly attested by a Chartered Accountant
• Profit & Loss account, Audited balance sheet including tax audit report, if applicable
• Bank statement:
Current 1-year bank statement (both savings and current)
Passport size, colored photograph

• Investment proof (if any):
fixed assets, fixed deposit, shares, etc.

• Existing loans: 
If there is an existing loan, need to submit sanction letter, payment track record

• Professional Degree Certificate:
(in case of professionals)

Documents required for self-employed

• Proof of Identification
• Address Proof

• Residence ownership proof (Any one out of the given list):
  
• Property documents
• Electricity bill
• Maintenance bill
• Office address and ownership proof (Any one out of the given list):
• Property documents
• Electricity bill
• Maintenance bill
• Proof of business existence (Any one out of the given list):
• Sales deed/ agreement (executed)
• Saral copy (3 years old)
• Copy of tax registration
• Company registration license
• Proof of Income (Any one out of the given list):
• ITR for Last 2 years of the applicant along with computation of income duly attested by a Chartered Accountant
• Profit & Loss account, Audited balance sheet including tax audit report, if applicable
• Bank statement:
Current 1-year bank statement (both savings and current)
Passport size, colored photograph

• Investment proof (if any):
fixed assets, fixed deposit, shares, etc.

• Existing loans: 
If there is an existing loan, need to submit sanction letter, payment track record

• Professional Degree Certificate:
(in case of professionals)

How to apply for Personal Loan?

Following is the procedure for applying loan offers:

• First of all, you have to fill a simple application form given on our site.
• We are excel to coordinate with 30+ banks/NBFC to get your application to them.
• Then you can choose the best one for you by comparing interest rates.
• In the end, we will send you an e-approval that your loan application is accepted within 24-48 hours and the amount will be credited to your account

Apply

Fill simple application form

Coordinate

We are coordinating with 30+ banks / NBFCs to get your application.

Rates

We get the best rates for you.

Approval

Loan is approved and amount credited.

Personal Loan Interest Rates

Bank Name	Interest Rates
SBI	12.5% to 16.5% p.a.
ICICI	11.59% to 18.49% p.a.
Axis Bank	15.50% to 24% p.a.
HDFC Bank	15.75% to 20% p.a
Citibank	14.25% to 19.99% p.a.
Standard Chartered	11.99% to 17% p.a.
TATA Capital	13.99% to 17.5% p.a.
Oriental Bank	11.20% to 12.95% p.a.
Capital First	13% to 18.45% p.a.
Indusind Bank	11.25% to 26% p.a
Fullerton India	21% to 40% p.a.
Kotak Mahindra	11.5% to 24% p.a.
Aditya Birla	14% to 16% p.a.

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