Personal loans: PERSONAL LOANS ARE unsecured loans, disbursed by most banks and NBFCs where the loan quantum could vary from Rs. 50,000 to Rs. 40,00,000. These are unsecured loans which mean you need not mortgage anything or even keep any asset as a security with the Bank. There are multiple reasons for which a personal loan is taken such as weddings, medical emergency, travel, home renovation, balance transfer, debt consolidation and so on. Read more on how to get a personal loan and an instant personal loan online approval. The basic requirement to get a loan sanctioned is a good credit history and an adequate salary. Other factors like years of employment, company you work for, city you stay in, etc will all determine the important factors like eligible amount, tenure and lowest interest rates for personal loan. Personal Loan Interest Rates vary from around 10.99% during offers to 28% across different banks and NBFCs. To be able to offer the best deal for personal loan in your city, most banks require you to be at least 21 years with over a year of work experience. Personal loans are usually repaid monthly over a pre-decided tenure. While most banks charge you a pre-closure charge of 4% - 5% of the outstanding loan amount, some of the banks give you the flexibility to pre-close the loan without any additional charges. Basic Documents ID PROOF: passport size photographs Passport/Voter ID/AadhaAr or Drivers Licence Residence Proof: Passport/ Landline Bill/ Post-paid Mobile Bill/ Rental agreement or Bank Statement Pan Card copy Age Proof – Passport/ Drivers Licence/ School Certificate or Pan Card copy Income Proof: Latest 3 months salary slips Banking Statement - 6 months bank statements Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16 Personal loans services in nagole and pan Hyderabad Telangana