Ajit Samal

When you are looking for a personal loan, it is obvious to compare various lenders. You would compare their rate of interest, the processing fees, the eligibility criteria, and other details. Since there are a number of lenders available in the market, it is natural to get confused. So, the best way to is to choose two reliable lenders and compare them. This is what we will do. We will tell you about Axis Bank personal loan and HDFC personal loan. After reading about them, you could decide for yourself which one is better for you. Axis Bank personal loan Axis Bank personal loan could be used for various purposes depending upon the borrower's needs. It requires minimal documents, has a lower interest rate, and offers quick disbursal of the loan. It does not require collateral since it is an unsecured loan.  Axis bank offers a personal loan from Rs 50,000 to Rs 15 lakhs. Axis bank personal loan interest rate starts at 10.49% P.A Axis Bank personal loan processing fee is up to 2% of the loan amount. The loan tenure is from 12 months to 60 months. The penal interest is 24% P.A There is no foreclosure charge. There is no prepayment charge. The eligibility criteria for Axis Bank personal loan The borrower should be a salaried individual or self-employed professional. The borrower should be between 21 years and 60 years. The borrower's minimum monthly salary should be at least Rs 15,000. The borrower should be working in the same organization for minimum 2years. Documents required for Axis bank instant personal loan Application form filled and signed Passport size photographs Proof of identity ( Aadhar Card, PAN Card, Voter ID card, Driving license) Proof of residence( Rental agreement, utility bill, Postpaid bill) Proof of income ( ITRs for the last 2 years, salary slips for the last 6 months, bank statement for the last 6 months, and passbook statement for last 6 months)

An ample number of personal loan lenders can be found in the financial market. This has provided loan seekers with a range of options to choose from. But it could be difficult and confusing to choose the best suited personal loan lender. To help you a little bit in this article we will be talking about one of the preferable and prominent personal loans available in the market i.e. Kotak Mahindra personal loan. A borrower can avail of various benefits by availing a personal loan from Kotak Mahindra such as attractive interest rate, low processing fees, easy loan processing, and others. Some of the major features and benefits of Kotak Mahindra personal loan has been mentioned below. Features and Benefits of Kotak Mahindra Bank Personal Loan  Collateral-free Loan: Kotak Mahindra's loan is a hassle-free unsecured loan means no guarantor or collateral is required to put against the loan amount. Both the salaried and self-employed loan seekers can avail of personal loan from Kotak Mahindra. Flexible Repayment Term: A borrower can choose the best-suited loan tenure while availing of Kotak Mahindra personal loan. Easy to Access: Kotak Mahindra's loan can be acquired through both the mode, online and offline. The quick loan approval and disbursement of the loan amount have been a reason why a Kotak Mahindra personal loan is considered among the best banks in India. Minimum Documentation: Kotak Mahindra is popular for its easy, simple, hassle-free, and fast documentation process. The documentation process of Kotak Mahindra personal loan is quite less than others. There are various aspects of Kotak Mahindra’ loan from which EMI is among the important ones. It can be difficult to manually calculate EMI. So, to facilitates you with easy EMI calculation Kotak Mahindra Bank personal loan EMI calculator is available online which is easy to use and free for usage. The following are some information you may require to use Kotak Mahindra Bank personal loan EMI calculator:   Personal Loan tenure   This is the time allotted you to repay your loan amount to the Kotak Mahindra. Generally, the longer the loan tenure is, the lower is the EMI. You can use the personal loan EMI calculator of Kotak Mahindra Bank to determine the most suitable EMI for yourself. This personal loan EMI calculator provides you with the exact EMI outflow every month. This helps you to efficiently do financial planning so that the loan repayment does not hurt your monthly budget. Personal Loan amount This is the amount you wish to borrow from the Kotak Mahindra and the Bank calculates the interest payable on this amount. The Bank considers parameters such as your income level, repayment history, and credit profile before deciding on the personal loan amount to approve. Just put the desired loan amount into the Kotak Mahindra EMI calculator. Personal loan Interest Rate It is the most significant component in an EMI calculation. As you are aware, it is the rate offered by the Kotak Mahindra to you at which your total interest payable is calculated. The interest rates may vary from borrower to borrower, as per their credit profiles and other related parameters. Few benefits of using Kotak Mahindra Personal Loan EMI Calculator It simplifies the EMI calculation: A personal loan EMI calculator makes the complex EMI calculation easier and the applicant gets the result faster.  Personal loan EMI calculator makes EMI calculation hassle-free: The Personal loan EMI calculator facilitates the user to get the correct amount of EMI which needs to be paid each month, by just filling in a few details of the loan.  This EMI calculator helps to plan finances well: A personal loan EMI calculator plays a crucial role in deciding the loan amount and the correct lending institution for borrowing the loan.  Generic Eligibility Criteria for acquiring Kotak Mahindra Personal Loan The applicant should be a salaried professional with a regular source of earning. An applicant those are self-employed and salaried can also avail of Kotak Mahindra's loan. The applicant’s minimum age should 23 years. An applicant's maximum age should be 60 years to eligible for Kotak Mahindra's loan A common list of documents required for Kotak Mahindra Personal Loan Complete personal loan application form. Copy of passport/ Voter ID card/ Driving license/ Aadhaar card. Address proof (copy of passport/voter ID card/driving license/Aadhaar). Latest bank statements (Passbook of the past 6 months). Latest salary slip. Current dated salary certificate.  Form 16 Income tax returns Conclusion: There is no doubt that Kotak Mahindra offers one of the best personal loan deals in the market. But it is always better to do thorough research and know about the charges include with the Kotak Mahindra Bank personal Loan.

SBI personal loans for govt employee provides immediate cash to overcome the financial crisis. Starting from the medical emergencies to a family vacation, child’s education cost to home renovation, there is no restriction on the usage of SBI personal loans for govt employee. With the minimal paperwork and no requirement of security, SBI personal loans for govt employee is considered as a great solution.  Features of SBI Personal Loans for Govt Employee A borrower can acquire a high loan amount up to Rs. 20 lakhs with SBI personal loans for govt employee. It is an unsecured loan that means the bank does not require any security for SBI personal loan. The rate of interest on SBI personal loans for govt employee is very competitive and budget-friendly. Zero hidden cost with low processing fees is charged for SBI personal loans for govt employee. Apart from personal loans for govt employees SBI offers other loan schemes as well, let have a quick look at them. Xpress Credit Personal Loan SBI Xpress Credit Personal Loan can be availed by those who maintain a salary account with SBI Bank.  You can avail of a maximum personal loan amount of Rs. 20 lakhs and a minimum of Rs. 25, 000. Low processing fees are charged. A borrower can avail of this loan scheme as a second loan as well. The competitive interest rate is charged. SBI personal loan is a collateral-free loan means it does not require any security against the loan amount. SBI Xpress Power Those who do not have their salary account with SBI bank please check what will come here personal loan under this loan scheme.  Under this loan scheme you can apply for a maximum loan amount of Rs. 15 lakhs/ 24 times NMI (Net Monthly Income) and a minimum of Rs. 25,000. The loan amount of this loan scheme can be repaid through NACH/SI. SBI Xpress Power involves minimal documentation. There is no compulsion to maintain a salary account in SBI Bank under this loan scheme. No hidden costs.  SBI Pension Loan SBI Pension Loan scheme focuses on the needs of the Central or State Governments or Defense or Family Pensioners. This also falls under the SBI personal loans for the government employee. Fast and simple loan processing. A borrower can pay easy EMIs through SI. No hidden costs are charged under this scheme. Low processing charges. SBI Personal Loan Interest Rate The rate of interest on SBI personal loan is quite low and attractive. A borrower with a good credit score with decent repaying capacity can easily avail of SBI personal loan at a lower rate of interest. Factors that affect the Personal Loan Interest Rates The rate of interest on SBI personal loan varies depending on various factors. Below are the major factors that influence the personal loan interest rate: Age Age is another important factor that determines the eligibility for a personal loan.  Credit Score If you are planning a personal loan then you must know that how important part a credit score plays in a personal loan processing from the eligibility to the loan approval. Especially while deciding on the interest rate of personal loan lenders consider it a great ground to stand on. It is 3 digits number which generally ranges from 300 to 900 points. Usually, the high credit score attracts the low-interest personal loan and vice versa. Work History The stability of an applicant in an organization also affects his/her chances for loan approval. Especially the applicants who are self-employed should always maintain a good work history as all things are majorly depending on this. Other Factors The gross income, take-home salary, outstanding loan installments, and credit card liabilities are some of the other factors that affect the applicant's prospect for availing a personal loan. Eligibility Criteria of SBI Personal Loan An SBI personal loan eligibility differs based on schemes and other factors, below are the common one: Xpress Credit Personal Loan eligibility criteria are: An applicant who does not have a salary account with SBI can apply for a personal loan under this scheme. The applicant's gross monthly income should not be less than Rs.50,000. Applicants who are employed with the following entities can apply for this loan: Central or state governments. Defense establishments. PSUs. Educational institutions that have a national reputation. SBI Pension Loan eligibility criteria are: The borrower’s age should not be above 76 years. An authorized member can acquire the family pension scheme of SBI.  The pensioners of armed forces include Paramilitary Forces, Army, Rashtriya Rifles, Air Force, Navy, Coast Guards, and Assam Rifles. The pension account should be with SBI. A borrower should be a central or state government pensioner, defense pensioner, or a family pensioner to avail of this loan scheme offered by SBI.  The family pensioner’s age should not be more than 76 years. Xpress Credit Personal loan eligibility criteria are: The borrower’s minimum monthly income should be Rs. 15,000. An applicant should have maintained his/her EMI/NMI ratio at 50%. To avail personal loans under this scheme an applicant should have a salary account with SBI. List of required documents for SBI Personal Loan Duly filled loan application form  Recent passport-sized photograph. Identity proof (any of the following) PAN Card Aadhaar Card Passport Copy Driving License Voter ID Card Address Proof (any of the following) Passport Copy Rental Agreement Driving License Bank Statement or Passbook Electricity Bill Ration Card Telephone Bill  Age Proof (any of the following) Passport Copy PAN Card  Latest Salary Slips or Bank Statements/ Passbook Form 16 Last 3 years IT Returns  Lastly, the government employee can seal a great deal with SBI in a subject to a personal loan as the bank offers various benefits to the borrower depending on his/her profile.

  Canara Bank offers a personal loan under Canara Budget, Canara Home Improvement, Canara Pension, Canara Consumer and Canara Teachers loan scheme to cater to the differentfinancial needs of different customers. You can get a personal loan up to Rs. 5 lakh for multiple purposes like home renovation, wedding, medical expenses and trip. Canara Bank personal loan interest rates Canara Bank personal loan interest rates vary from lender to lender as under: Loan type Charges Canara Home Improvement 10.55% p.a. onwards Canara Budget 12.40% p.a. onwards Canara Teachers  12.05% p.a. onwards Canara Pension 11.35% p.a. onwards Canara Consumer 12.55% p.a. onwards Special note: Interest rates are subject to periodic changes and depend on several factors like loan amount, income, tenure and credit score  Canara Bank personal loan fees & charges Types of personal loan Processing fees Canara Home Improvement 0.50% of the loan amount (Subject to min. Rs.1,500 and max. Rs.10,000) Canara Budget 0.5% of the loan amount (Subject to a minimum of Rs.1,000 and maximum of Rs.5,000) Canara Teachers  1% of the loan amount (Subject to a minimum of Rs.50) Canara Pension NA Canara Consumer 1% of the loan amount (Subject to a minimum of Rs. 250) Canara Bank personal loan features and benefits  Customised loan options: Canara Bank has customised loan solutions to cater to different financial needs of individuals. Canara personal loan schemes include Canara Home Improvement, Canara Consumer, Canara Pension, Canara Teachers, etc. Affordable interest rates: Canara Bank interest rates are one of the lowest in the market starting from as low as 10.55% p.a. Depending on the loan scheme, you can get a personal loan up to Rs. 5 lakh for a variety of financial requirements.  Minimal documentation: You can apply for the loan without moving out of your home or office, using online platform. Canara Bank personal loan needs minimal documentation, hence eligible applicants can get their loan disbursed instantly.   Flexible tenure: Canara Bank personal loans have one of the most flexible repayment tenures. The loan tenure varies from scheme to scheme for example, you can get a Canara Pension loan for up to 72 months.       Canara Bank personal loan schemes Canara Budget loan Canara Budget personal loan is designed to cater to individuals who need a personal loan for any specific purpose. Both salaried professional and self-employed individuals can apply for the Canara Budget personal loan. Here are the key features of Canara Budget personal loan:    Loan amount Up to Rs. 3 lakh Interest rate 12.40% to 14.45% p.a. Loan tenure Within 60 months Canara home improvement loan  This type of personal loan is available to individuals who have their own homes. They can get Canara home improvement loan for the purchase of home furnishing and appliances like sofa, refrigerator, microwave oven, air conditioner, etc.  Key features of Canara Bank home improvement loan:  Loan amount Up to Rs. 2 lakh Interest rate 10.55% to 12.60% p.a. Loan tenure Within 60 months Canara teachers loan Canara Bank offers exclusive personal loans for teachers to help them meet specific personal financial needs.  Key features of Canara teachers loan: Loan amount Up to Rs. 3 lakh Interest rate 12.05% to 14.10% p.a. Loan tenure Within 48 months Canara pension loan Retired employees of the central government, state government, PSUs and defence, as well as ex-Canara Bank employees, can get a personal loan from Canara Bank. They can use the loan amount for their personal needs like medical expenses, home renovation, etc.  Key features of Canara pension loan: Loan amount Up to Rs. 5 lakh Interest rate 11.35% p.a. Loan tenure Within 72 months or individuals aged less than 65 years; 65 months for applicants aged above 65 years Canara consumer loan Canara Bank offers a consumer loan to individuals who need financial assistance to purchase consumer durable items such as home appliances like furniture, AC, microwave open, refrigerator, and computers or laptops.  Here are the key features of Canara consumer loan: Loan amount for salaried applicants Rs. 1 lakh, 75% of the invoice value or 15 months’ net salary of the applicant For professionals and other self-employed individuals  75% of the invoice value or 50% of the net annual income (as per last year), or Rs. 1 lakh (whichever is lower) Interest rate 12.55% to 14.60% p.a. Loan tenure Up to 36 months Canara Bank personal loan eligibility criteria Eligibility requirements vary from scheme to scheme. Here are the Canara Bank personal loan eligibility criteria based on the loan scheme: Canara Budget Confirmed employees of centre/ state government, PSU (Public Sector Unit), lecturers/ professors of college/ research institutions and universities, and reputed IT companies.  Your salary account should be maintained by the Canara Bank. The minimum monthly net take-home salary required to get this loan is Rs. 10,000 or 25% per month after payment of loan instalment. Canara home improvement loan Salaried employees and self-employed professionals who have own home/ flat. NRI can also apply for the loan.   Salaried individuals should have a minimum net take-home salary of 25% of their monthly gross salary or Rs. 2000 after paying the personal loan instalments.  Self-employed professionals and non-professionals should have a minimum income of Rs. 50,000 per annum as per their Income Tax assessment order/ return.  Canara teachers loan You should be a part of the academy – teaching as well as non-teaching staff working in a school/ college Your salary should be maintained by Canara Bank You need to submit an undertaking letter from salary disbursing authority at District/ Block level. Canara pension The following pensioners whose pension payment order is maintained by the Canara Bank can get Canara pension loan: All Central/ State government pensioners including Central, Civil, Railways, Defence, Armed Forces, Defence Civilians and Freedom Fighters etc. All pensioners of government department undertakings.  Family pensioners of all the above categories. Ex-employees of Canara Bank and family pensioners of Canara Bank staff  Canara consumer loan  Salaried employees, self-employed professional and self-employed non-professionals.  Salaried individuals should have a minimum monthly net take-home salary 40% of their gross salary or at least Rs. 6,000 after paying the instalment of the proposed loan.  Your salary must be credited into Canara Bank salary account.  Self-employed professionals and non-professionals should have a minimum income of Rs. 1.5 lakh per annum as per their Income Tax Assessment Order (ITAO) / Income Tax Return (ITR).  Documents required for Canara Bank personal loan Document requirements also vary from loan scheme to scheme. Here are some common documents that you will have to submit to get Canara Bank personal loans.  Identity proof: Voter’s ID card, Aadhaar Card, Driving License, PAN Card, Passport Address proof: Ration card, Electricity Bill, Telephone Bill, Sales Deed/ Lease Agreement, Aadhaar Card, Passport, Driving License, Bank Account Statement  Income proof: Salary Slips, Bank Statement, Form 16, ITR Additional documents based on loan scheme Canara Budget loan Filled loan application with 2 passport size photographs Latest salary certificate and Form 16/ ITR/ ITAO for the last 3 years Co-obligation  Canara pension loan Filled loan application with passport size photos  Co-obligation (unless waived by bank) Delivery letter to Demand Promissory Note (DPN) Canara Teachers loan Filled loan application with 2 passport size photos Latest salary certificate and Form 16 Co-obligation where required  Pronote/ Pronote covering letter Undertaking letter from salary disbursing authority at District/ Block level Canara Consumer Loan Filled loan application with 2 passport size photographs Latest salary certificate and Form 16 / ITR/ ITAO for the last 3 years Invoice of the article proposed to be purchased Canara Bank Personal Loan EMI Calculation If you get a personal loan from Canara Bank, here is the possible EMI you may need to pay for multiple amounts and interest rates.  Loan amount & interest rates EMI Amount 1-year tenure 2-year tenure 3-year tenure 4-year tenure 5-year tenure Rs. 1 lakh @12.50% p.a. Rs. 8,908 Rs. 4,731 Rs. 3,345 Rs. 2,658 Rs. 2,250 Rs. 2 lakh @ 12.35% p.a. Rs. 17,803 Rs. 9,447 Rs. 6,676 Rs. 5,301 Rs. 4,484 Rs. 3 lakh @ 11.35% p.a. Rs. 26,563 Rs. 14,031 Rs. 9,871 Rs. 7,805 Rs. 6,575 Rs. 4 lakh @ 10.55% p.a. Rs. 35,269 Rs. 18,560 Rs. 13,010 Rs. 10,251 Rs. 8,607 Canara Bank personal loan vs other personal loans  Here is how Canara Bank personal loan compares with personal loans offered by other banks: Particulars Canara Bank Personal Loan Central Bank of India Personal Loan  SBI Personal Loan Corporation Bank Personal Loan Interest rate 10.55% p.a. onwards (varies from scheme to scheme) 9.85% p.a. onwards 10.50% p.a. onwards 10.75% p.a. onwards Processing fees 0.5% to 1% of the loan amount + GST (varies from scheme to scheme) Rs. 500 + GST 1% of loan amount + GST Rs. 500 plus How to apply for Canara Bank personal loan with Afinoz Take the following steps to apply for Canara Bank personal loan on Afinoz: Fill in the personal loan application form on Afinoz.com.  You will get multiple loan offers on your screen based on your requirements and qualification. Select the loan offers from the Canara Bank or you can call Afinoz.  Enter additional details about yourself so that you can submit the application to get a personal loan from the chosen lender.  Canara Bank customer care number For any question/ issues/ feedback regarding a personal loan, you can get in touch with the Canara Bank through various methods: Toll free number: 1800-425-0018 Customer can also use the bank’s Branch/ATM locator to visit the bank  FAQs Q1. Can I use Canara Bank personal loan without restriction? Ans. If you get Canara Budget loan, you have to use it to the specific purpose you have mentioned at the time of application. Otherwise there is no restriction on the legal use of Canara Bank personal loan.  What is the maximum tenure I can get Canara Bank personal loans for? Ans. The maximum tenure varies from scheme to scheme. For Canara Pension Loan, it is 72 months, whereas for Canara Budget and Canara Teachers Loans, the maximum tenures are 60 months and 48 months respectively.  What will happen if I miss a monthly payment? Ans. You may need to pay the late payment fees and your credit score will be hurt.   Can I get Canara personal loans to pay medical bills? Which loan scheme is the most suitable for this? Ans. You can use Canara personal loan for any purpose such as home renovation, child’s tuition fees and medical bills as well. For medical expenses, you can apply for Canara Budget loan. Which one is the best loan option for purchasing a mobile phone? Ans. If you want to buy a mobile phone, Canara Consumer personal loan will be the best-suited option.   Can a self-employed person apply for Canara Budget personal loan? Ans. No, Canara Budget personal loan is available for salaried employees only.  What is the maximum personal loan amount offered by Canara Bank? Ans. Maximum personal loan amount varies from scheme to scheme. Maximum loan amount offered under Canara Pension is Rs. 5 lakh, and under Canara Budget and Canara Teachers is Rs. 3 lakh. In certain cases, the maximum loan amount may go up based on the repayment capacity of customers. I am a student and I have savings account in Canara Bank. Can I get a personal loan under the Canara Budget scheme? Ans. Canara Budget personal loan is offered for salaried employees of several reputed government and non-government organisations. You must have a regular income and employment certificate to apply for the loan. Hence, you can’t apply for Canara Budget loan. Can I get a discount on Canara Bank personal loan interest rates? Ans. Canara Bank interest rates are fixed. However, BSNL employees can get special rates.    How to check Canara Bank personal loan status? Ans. You can check Canara Bank personal loan status online as well as offline. You need to enter the reference number provided at the time of application and your mobile number.   

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Kotak Mahindra personal loan can be used for any purpose like remodeling home, big fat wedding, dream vacation, buying for new electronic products, to pay off the education or medical expenses, etc. The Kotak Mahindra personal loan processing is easy, simple, and quick as compared to the other loan lenders. A collateral-free personal loan is offered by Kotak Mahindra.  Features of Kotak Mahindra Personal Loan Attractive Interest Rate: Kotak Mahindra personal loan comes at a competitive rate of interest. As every applicant can avail for a Kotak Mahindra personal loan the employment type and income source. Minimal Documentation: Kotak Mahindra's loan processing is famous for its fast and minimum requirement of documents. This ensures fast loan approval in a short period.  Balance Transfer: Personal loan balance transfer to Kotak Mahindra bank is an opportunity for all whosoever wants to enjoy the benefits of Kotak Mahindra personal loan. Flexible Repayment Term: Flexible repayment tenure is offered to meet and fits into the customers need. Benefits of applying for a Kotak Mahindra Personal Loan Perfect for Financial Emergencies: Kotak Mahindra also offers an online loan application that makes it's perfect for financial support. Another best part of applying for Kotak Mahindra Bank personal loan is that there is no need to explain it to anybody about why you are availing a personal loan. Easy to Access: Kotak Mahindra Bank personal loan is now can be availed easily by sitting at your home with the online loan processing. Greater Convenience: Kotak Mahindra Bank's loan online services have made it possible; offering this great convenience of approving and availing the loan without personally visiting the bank branch. All are required to fill out the online loan application form, attach all the required documents, ensuring that you fit in banks' credit score eligibility criteria and it’s done.  Kotak Mahindra Personal Loan Balance Transfer A personal loan balance transfer is a process of transferring the existing loan balance from one lender to another. With the help of personal loan balance transfer to Kotak Mahindra you can easily reduce the burden of your existing loan and also can avail extra funds for your requirements at a lower rate of interest with additional exciting benefits. Feature and Benefits of Kotak Mahindra Personal Loan Balance Transfer If you transfer your existing personal loan balance from other banks to Kotak Mahindra, then you can enjoy various exciting advantages. To help you a bit, here are the advantages that a personal loan transfer to Kotak Mahindra is an offer to you: Your Equated Monthly Instalments or EMIs will be reduced by transferring your existing personal loan balance to Kotak Mahindra. You can also choose for longer repayment tenure as per your convenience with a personal loan balance transfer to Kotak Mahindra.  After transferring your loan balance transfer to Kotak Mahindra, you can pay the EMIs on time without exceeding the budget. A personal loan balance transfer will enable you to repay the balance loan amount conveniently by the end of the loan tenure. You have multiple options to apply for a balance transfer with ICICI Bank from which you can choose that suits you the best. Kotak Mahindra Personal Loan Balance Transfer Eligibility The eligibility criteria for a personal loan balance may vary based on various factors, here is the generic one: An applicant should have Indian citizenship. An applicant should be a minimum of 23 years, and a maximum of 60 years. The monthly salary credited to the Bank should be more than above 25,000. Job stability or continuity should not be less than 2 years. An applicant's CIBIL score should be 720 points for the loan amount of more than Rs. 5 lakhs. An Applicant should be having his residence or be living with his family in a rented premise. An applicant should have a graduate. Documents Required for Bank Balance Transfer A list of documents may differ for one applicant to another but below is the common document list is provided: A self-attested copy to be submitted for Personal Loan balance Transfer for  Application form duly filled & signed. 2 passport size photos. Last 3 months salary slips  Latest bank statement showing salary credits for at least 3 months. Form 16  PAN Card Copy. Identity proof (Driving Licence/Aadhaar Card /Passport/Voter ID) Current address proof (Driving Licence/Aadhaar Card /Passport/Voter ID/Utility bill/Rent agreement) Request letter for transfer of Loan from the External bank to ICICI Bank. Track of the existing personal Loan. Application copy for closure request or pre-closure letter of the current personal loan. Factors affecting the Kotak Mahindra Personal Loan Interest Rate Depending upon the following factors two people may get a different rate of interest on a personal loan from the lender:  Income: As personal loans are unsecured loans and do not involve any security against them and a high monthly income works as an assurance to the lenders. Almost every lender considers that high-income individuals will be able to repay the loan on time, hence offer a lower interest rate to them.  Relationship with the Lender: If an applicant has an existing relationship with the bank and shares a good credit repayment history, the bank is most likely to offer him/her a personal loan with a low rate of interest or processing fee.  Employer Details: Loan providers believe that such borrowers have a stable job and constant income and hence would be able to repay the EMIs on time.  Credit Score: Every time he/she repay the EMI on time, points are added to the credit score, and defaults or late EMI payments narrow down the credit score by a few points.  Kotak Mahindra Bank Personal Loan EMI Calculator Before applying for Kotak Mahindra Bank personal loan, it is important to check the EMI calculator for the EMI payment. Kotak Mahindra Bank's personal loan EMI calculator is available for all and you can choose to use them to plan the loan outgo and monthly budget. EMI is an abbreviation for the amount to be paid every month for an allocated time and it is also referred to as Equated Monthly Instalment. Kotak Mahindra Bank Personal Loan Eligibility Criteria Looking for a personal loan to meet your immediate financial requirements? Make sure that you run through the common eligibility criteria listed below to avail a personal loan as fast as possible, only from Kotak Mahindra Bank.  An applicant should be an Indian citizen. A net monthly salary should not be less than Rs.20,000. Applicant age should be between 21 years to 58 years.  An applicant should be a graduate. You should be living in a current city for at least 1 year. An applicant should have a minimum working experience of at least 1 year. Documents Required for Kotak Mahindra Bank Personal Loan Duly filled loan application form  Recent passport-sized photograph. Identity proof (any of the following) PAN Card Aadhaar Card Passport Copy Driving License Voter ID Card Address Proof (any of the following) Passport Copy Rental Agreement Driving License Bank Statement or Passbook Electricity Bill Ration Card Telephone Bill Age Proof (any of the following Passport Copy PAN Card Latest Salary Slips or Bank Statements/ Passbook Form 16Last 3 years IT Returns 

If you are looking for a short guide on the service guide by EPFO, then you have come to the right place. EPFO (Employee provident fund organization) is a government organization aimed to provide employee provident fund. It merely means offering retirement funds to its members.  So, in today’s blog, we will share the different services offers by EPFO.  There is an EPFO member portal, UAN, and other services. Now, let’s get started. Please keep reading.  EPFO  As we have already told you, EPFO offered many services to the members. It has facilities for both employers and employees. We will begin by listing down the services.  UAN  PF withdrawal  Registration of Establishments online Online Payment of PF UAN Member E-Sewa for Employees Grievance Services UAN (Universal Account Number)  When you begin using the services of EPFO, the first thing you need to create a UAN. It is 12 digits universal account number allotted to the employee. It was launched by Prime Minister Narendra Modi back in 2014. The objective of UAN is simple. You are linking all Member IDs and PF under the same platform.  It does not matter if you change your job. Once you have allotted a UAN, it remains an active lifetime. On the EPFO member portal, you can check UAN Status; Updated UAN Card can link previous IDs.  PF Withdrawal If an employer is unemployed for more than 2 months, the person can request for PF Withdrawal. Go to the EPFO website; on the member portal; you will see the option for it. In case you are not able to locate it, you can call on EPFO customer service.   Registration of Establishment online It is really easy to register online on the EPFO portal. Visit the website, fill the application, and upload the required documents. You will be allotted a UAN number. There is no need to visit the EPFO office.  Online Payment of PF Since 2015, The government of India has made it mandatory for the organization to pay every PF online. There are two ways; an employee can do it.  You can visit the EPFO website to do it.  You can visit your employer’s Bank website.  However, currently, there are only a few banks offering the services.  Axis Bank, SBI, Allahabad Bank, PNB, HDFC bank are some of the banks.  UAN Member E-Sewa for Employees Once you activate UAN, it opens a lot of services for you.it is available under the e-sewa portal. You can check out KYC details, Service history, UAN Card, EPF Tracking status and EPF passbook, etc. Once you applied for UAN, You can check for UAN status to know the progress.  Grievances Services Let’s say you are facing any issue with the EPFO Member portal or Withdrawal PF, or you can make any complaint. You can use the EPFO grievances service.  Other than these primary services, EPFO offers other services. Services such as Coverage certificate for international workers, passbook, and claim status.    So, these are the services offered by EPFO. If you need any help, do let us know.

  When you apply for a personal loan, lenders look at your eligibility like age, salary or monthly income, employment type, financial stability and credit score. Monthly income or salary of borrowers applying for a personal loan is one of the most important factors considered for a personal loan. Your salary helps lenders figure out if you can repay the loan and how much loan can get.  Minimum monthly salary set for a personal loan varies from lender to lender. In fact, the minimum income required varies based on the city a personal loan borrower is living in. In big cities, the minimum income required is more than small cities due to higher living expenses in big cities.  The minimum income requirement lowers in Tier II and Tier III cities accordingly. For example, the minimum income required to get a personal loan from ICICI Bank in Mumbai and Delhi is Rs. 25,000 and in Hyderabad, Pune, Bangalore etc. is Rs. 20,000, and in other small cities Rs.17,500 per month.  Minimum income required to get a personal loan from some bank Personal Loan Minimum monthly salary  Interest Rate Tenure HDFC Bank Personal Loan HDFC Bank salary account holders: Rs. 25,000 Non-HDFC Bank salary account holder: Rs. 50,000  10.75% - 21.30% p.a. 12 to 60 months SBI Xpress Credit Personal Loan Rs. 15000 From 11.55% p.a. Up to 60 months or remaining service period SBI Xpress Power Rs. 50,000 From 11.65% p.a. Up to 60 months/ remaining service period ICICI Bank Personal Loan Mumbai & Delhi: Rs.25,000 Chennai, Hyderabad, Bangalore, Pune & Kolkata area: Rs. 20,000  In the rest areas: Rs.17,500 11.25% - 17.99% p.a. 12 to 60 months Punjab Nation Bank Personal Loan Metro areas: Rs.15,000 Urban areas: Rs.12,500 Semi- Urban/ Rural areas: Rs.10,000/- 12% - 15% p.a. Up to 60 months Axis Bank Personal Loan Rs. 15,000 12% - 24% p.a. Up to 60 months Tata Capital Personal Loan Rs. 15,000 From 11.25% p.a. Up to 72 months Allahabad Bank Personal Loan Rs. 15,000 13% p.a. Up to 60 months Indian Overseas Bank (IOB) Above Rs. 5000 12.17% - 15.25% p.a. Up to 60 months Canara Consumer Loan Rs. 12,000 13.15% - 14.15% p.a. Up to 36 months Canara Teachers Loan Rs. 10,000 From 12.55% p.a. Up to 48 months Canara Budget Loan Rs. 10,000 In case of salary tie-up: 12.90% p.a. Without salary tie-up: 13.90% p.a. For BSNL employees: 10.90% p.a. Up to 60 months IDBI Bank Personal Loan Rs. 15,000 10.15% - 12.90% p.a. 12 to 60 months   Minimum income required to get a personal loan using lending apps App Minimum monthly salary Interest rate (Per month) PaySense Rs. 15,000 1.5% - 3% CASHe Rs. 15,000 From 1.75%  Money View Rs. 13,500 1.33% - 2% Credy Rs. 15,000 1% - 1.5% EarlySalary Rs. 20,000 2.5% FlexSalary Rs. 8,000 Up to 3%  Note: Rate of interest is subject to periodic changes  Personal loan for pensioner Retired employees of centre government, state government and quasi-government can get personal loans from multiple banks based on their monthly pension.  SBI personal loan for pensioners State Bank of India offers a personal loan for pensioners of center and state government who draw their pension from any of SBI branches in the country.  Key features of SBI personal loan for pensioner  Interest rate 12% p.a. Age limit Maximum 76 years Loan amount Rs. 25,000 - Rs. 14 lakh Term Up to 84 months   PNB personal loan for pensioners  Retired government employees drawing their pension through any branches of Punjab National Bank can get a personal loan.  Key features of PNB pension loan  Interest rate TL/DL: BR+2.50% Age limit Maximum 75 years Loan amount Rs. 25,000 - Rs. 10 lacs Processing charges Not applicable Documentation fees Rs. 500 + GST   Bank of India pension loan  Regular pensioners, as well as family pensioners, who draw their pension from any of Bank of India’s branches can get BOI Star Pensioner Loans.  BOI Star pensioner loan features Loan type DL/TL/OD Age limit Maximum 75 year Loan amount 15X of monthly pension subject to Max. Rs. 5 lakh Interest rate 1 Year MCLR + 2.50% p.a. Repayment tenure 60 instalments Processing charges 2% of the loan subject to Min Rs. 500 and Max Rs. 2,000   Borrowers also need to fulfil other eligibility criteria to get a personal loan: Eligibility for a personal loan Eligibility criteria vary from lender to lender like eligibility criteria for a personal loan from ICICI Bank may slightly vary from HDFC Bank personal loan. Here are some basic and common eligibility criteria for a personal loan: Age Limit: Anyone within the age limit of 21-58 years is eligible to apply for a personal loan. Employment Status: Salaried/self-employed individuals who have been receiving a regular income/ salary for minimum past 2 years can apply for a personal loan.  Credit Store: Borrowers need a good CIBIL score to apply for a personal loan. Credit score ranges from 300 to 900.  A credit score of, typically above 750, is considered good for a personal loan. Higher credit score means attractive interest rates. Documents required Documentation also varies from lender to lender. Here is the checklist of documents you will need to apply for a personal loan.  Filled loan application form along with photographs Age proof: Birth certificate/ PAN card/ voter’s identity card/ passport/ Aadhaar card/ driving license  Address proof: Electricity bill/ telephone bill/ water bill/ ration card/ passport with the same address as mentioned on the application form Income proofs for salaried applicants: Latest 3-month salary slips, salary certificate along with the latest Form 16 Bank statement showing salary credit for the past 3 months Self-employed applicants: Latest Income Tax Returns certificate or Form 16 and the latest bank statement Credit report   If your monthly salary is insufficient for loan application like online personal loan by HDFC Bank, you can explore other options like: Add a co-applicant:  Individuals who are not able to get a personal loan due to lack of income can add an earning family member as a co-applicant to apply for the loan. The co-applicant’s income will also be considered for the loan. It will improve your eligibility. However, if the principal member defaults on the loan, lender will approach the co-applicant to recover the outstanding loan amount.  Apply for a Secured Loan If your income is insufficient to get a personal loan, you can use collateral to apply for the loan. In this case, collateral acts as security against the loan amount and if you default on the loan, the lender can auction the asset to recover its income. You can offer gold, property and car as collateral. Generally, lenders offer 75% of the asset value.  Banks and NBFCs offer loans digitally such as an online personal loan by HDFC Bank. If you are looking for instant loans, you can apply for the loan using lending apps.  

  Multiple financial institutions and NBFCs provided an instant personal loan in Kolkata at an affordable rate of interest usually with the loan amount ranging from Rs. 25,000 to Rs. 25 Lakhs and with a loan tenure from 1 year to 5 years. Kolkata is a metropolitan city and a commercial hub, that is why it is a preferred location for financial institutions.   Indiabulls Dhani   Indiabulls Dhani offers you the perfect instant Personal loan in Kolkata with an attractive interest rate starting from 13.99%. It is a perfect financing option to meet all your needs – be it financing for that exotic destination wedding, or a last-minute travel plan, or to buy that dream car, and for that matter anything.  Benefits of Indiabulls Dhani Instant loan approvals and disbursement of the loan amount within a few minutes. The flexible repayment tenure is offered by Indiabulls Dhani ranging from 3 months to 36 months. Easy and simple documentation is involved in Indiabulls Dhani loan processing.  All your personal and financial details kept safe and secure. Shubh Loans     Shubh Loans is an instant loan application developed by a group of bankers, data experts, and technologists. The primary aim of this application is to help the users to get easy access to the credit score and provide easy loans to meet any of the financial requirements. Benefits of Shubh Loans Shubh Loans disburse the loan amount directly in the borrower’s bank account. The loan amount can be used anywhere for any purpose. You can even avail the top-up loan after the repayment of 50% of the current loan.  Shubh Loans offers loans from Rs. 25000 to Rs. 5 Lakhs with flexible tenure up to 4 years.    Faircent       Faircent facilitates the borrowers with the high margins which intermediaries including banks and financial institutions make on the transactions. Faircent has the spare money that it leads directly to the people who want to borrow. There are no banks in the middle. Benefits of Faircent Faircent offers instant loans at a lucrative rate of interest. The low processing fee is charged by Faircent as there are no banks in the middle. Minimal documentation is involved in the loan processing. You can get the loan amount with a simple and easy loan process. Lendbox     Lendbox is an online peer-to-peer lending platform that helps the borrowers to easily connect with the vast base of the banks, NBFCs, financial institutions and individual lenders for getting their loan instantly on a competitive rate of interest.  Benefits of Lendbox Lendbox instant loan approval has a 45% approval rate.  The Lendbox rate of interest on instant loans starts at 11.49% per annum.  You can find Lendbox in India with a wide presence of over 35 cities, which includes almost all big Tier I and Tier-II cities. You can apply for Lendbox instant loan while sitting at home as the digital loan application allows you to do so. Eligibility for Personal Loan in Kolkata The eligibility criteria to avail of a personal loan can vary based on various factors. Having said that, here are the general eligibility criteria to fit into to acquire a personal loan:  You must have Indian citizenship.  You must either be a salaried employee or a self-employed individual or a business owner.  Your age should be between 21 years to 57 years.  You should have a savings bank account.  Documents Required for a Personal Loan The following are the basic documents required to be submitted for a personal loan:  Passport-sized photograph Aadhaar Card PAN Card