Delhi is the national capital territory of our country, and Dwarka is a sub-city located in the southwest district. This place has a neighborhood that works functionally under the Delhi High Court for South West Delhi. The city is situated close to Indira Gandhi International Airport. Dwarka is into cooperative groups of housing societies for residency and is the most in-demand residential area in New Delhi. It has the largest rooftop solar plant in the union territory. In a city like this, people often face a money crunch; It’s best for you, as Dwarka citizens, to apply for a personal loan and save yourself from monetary problems. Here are some information relating to Personal loan. Individuals can know better about the opportunities they withstand following this article.
Also Read: Get Personal Loan In Delhi
Consider Personal Loan in Dwarka – The Best Choice
- A personal loan is an unsecured loan and doesn’t need any collateral. Lenders provide personal loans without the borrower’s assets as security.
- A personal loan is a multi-purpose loan; Lenders can avail of an instant personal loan for any personal need like buying a two-wheeler, gold or renovating a home. You can avail it for anything you want.
- Applicants should apply for a certain amount of a loan only if they can repay the loan amount and interest.
- You don’t have to provide a nominee or guarantor.
Personal Loan, Interest Rates in Dwarka, Delhi:-
| Bank | Processing fee | Prepayment charges |
| HDFC Bank Personal Loan | 0.25% to 1.50% | 2%, Nil foreclosure charges after three months. |
| Axis Bank Personal Loan | 0.50% to 1.50% | Nil |
| ICICI Bank Personal Loan | 0.25% to 1.50% | 2%, Nil foreclosure charges after nine months. |
| SBI Personal Loan | 500/- to 0.50% | Nil |
| Kotak Personal Loan | 1% to 2% | 2.25% of foreclosure amount if closed one month ahead of the tenure. |
| IIFL Personal Loan | Nil | Nil |
| Muthoot Personal Loan | Nil | Nil |
| Manappuram Loan | Nil | Nil |
| PNB Personal Loan | 0.70% to 1% | Nil |
| Canara Bank Personal Loan | 0.01 | Nil |
| Andhra Bank Personal Loan | Nil | Nil |
Residents in Dwarka, Delhi, can quickly obtain a personal loan from loan aggregators like Buddy Loan. Buddy Loan aggregators are the most trustworthy platform to avail of a loan. Also, To check credit score, you can check from the Buddy Score website; they provide accurate scores. If the borrower has good credit scores, they can avail of a loan for a low-interest rate.
Major Personal Loan Lending Banks in Dwarka, Delhi:-
| Feature | HDFC Bank | ICICI Bank | Bajaj Finance |
| Interest Rate | 10.75% to 17% | 11.25% to 18.5% | 0.12 |
| Minimum Loan Amount | Metro : 75,000 and Non Metro : 50,000 | 50,000 | 1,00,000 |
| Maximum Loan Amount | 50 lacs | 50 lacs | 1 Cr |
| Loan Tenure | from 1 to 5 years | 1 to 5 years | 1 to 5 years |
| Processing Fee | 0.25% to 2% of the loan amount | 1% to 2.5% of the loan amount | 0.5% to 2% of the loan amount |
| Preclosure charges | 2%, Nil foreclosure charges after 12 months | 2%, Nil foreclosure charges after 24 months | Nil |
| overdraft facility | No | No | Yes |
Prepayment or Processing Fee While Taking a Personal Loan in Dwarka is:-
Banks, non-banking financial companies (NBFCs) charge a fee to process your loan application. The processing fee ranges from 1.5% to 2.5% of the approved loan amount.
Suppose your wish is to foreclosure your loan before the acknowledged loan tenure. Lending institutions and companies charge you a penalty payment fee due to certain situations. In most cases, you cannot close your loan account before 12 months. Post 12 months, the charges differ depending on the years the loan was approved. Costs vary from 4% of the outstanding loan amount in the second year to 2% in the fourth year of the loan.
However, Buddy Loan aggregators do not charge any processing fee while availing a personal loan from the borrowers. It is a hassle-free procedure.
Documents Required For Personal Loan Dwarka, Delhi
Primary Documents for salaried customers –
- Identity proof – Driving license/ Aadhar card
- Salary slips of the previous last three years
- Bank statement of the previous six months
- PAN(Permanent Account Number) card
- Residence Proof – Company/Rental/owned provided)
- Two Passport-size photographs
Primary Documents for Self – Employed customers –
- PAN (Permanent Account Number) card
- Aadhar card
- Two passport-sized photographs
- Residence proof
- Two passport-sized photographs.
Eligibility Criteria For Personal Loan Dwarka, Delhi
Basic Eligibility for salaried individuals –
- The minimum age of the applicant is 21 years, and the maximum age is upto 60 years.
- The applicants should have three years of work experience. Applicants should receive a salary to their accounts.
- Its recommended for applicants to have an excellent credit score and a history
- The borrower must provide the office address and location.
- The borrower should have a minimum income of Rs 18,000 per month.
Basic Eligibility for self-employed individuals –
- The minimum age of the applicant for an independent employee is 25 years.
- The applicant must provide ITR (Income Tax Return) files for the previous three years.
- If the applicant is a businessman, the person must provide the business details for the previous three years.
- The applicant should maintain a good credit score and history. The person must be free of debts and dues.
- The applicant’s annual income must be a minimum of Rs 2.5 lakh.
- The applicant aspiring to get personal loan must complete the documentation process and submit financial and banking statements for the previous three months.
Dwarka, Delhi EMI Calculator for Personal Loans
EMI’s, i.e., Equated monthly income, is a fixed charge. You should pay a certain monthly amount to the bank for borrowing the loan.
Based on your financial credit history, the interest rate is determined. The amount of interest is charged based on the period and the amount of loan taken.
Here Is The Pre-Calculated EMI Table
| Rate | Five years | Four years | three years |
| 10.50% | 2149 | 2560 | 3250 |
| 11.00% | 2174 | 2584 | 3273 |
| 11.50% | 2199 | 2608 | 3297 |
| 12.00% | 2224 | 2633 | 3321 |
| 12.50% | 2249 | 2658 | 3345 |
| 13.00% | 2275 | 2682 | 3369 |
| 13.50% | 2300 | 2707 | 3393 |
| 14.00% | 2326 | 2732 | 3417 |
| 14.50% | 2352 | 2757 | 3442 |
| 15.00% | 2378 | 2783 | 3466 |
Also Read: Get Personal Loan With A Bad Credit Score In Lajpat Nagar, Delhi
Conclusion
Including hospitals, schools, malls, markets, and metro stations. The sector is maintained well, including roads, street lights, and parks. People here could easily avail of a personal loan for their needs or any purpose required, which is readily available.
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