Personal loan is the financial tool which will help the Entrepreneurs to meet with their needs related business enterprise. Most startups are found by the entrepreneur and they need the funds for the initial start of the business plan.
The entrepreneur always in need of money for various tasks related to business plans. Whenever an entrepreneur feels a lack of money, there is a loan which fulfills the needs immediately. Personal loans are available to meet your financial requirements immediately. This loan is an unsecured i.e. means there is no need of any asset
Personal Loan Documents required:
The requirement of documents may be different for salaried and self-employed persons;
Salaried Customers:
Identity proof (Aadhar card/driving license)
Salary slips of last three months
Latest six months bank statements
PAN Card is must
Residence Proof (Owned/Rented/Company provided)
Two Passport sized photographs
Self-Employed Customers:
All financials are considered (company documents as well as ITR files)
PAN Card
Aadhar Card
Residence Proof
Two passport-sized photographs
Personal Loan Interest rates
It usually comes with an affordable interest rate. The starting interest rate of the Personal Loan is 10.75% per year; however, this rate keeps on changing from time to time. Also, the interest rate varies from person to person. It depends on your monthly salary or income.
Usually, the interest rate is higher than other loans. And interest rate may vary as per the amount of loan and period for which money borrowed.
Please make sure you are eligible for a personal loan and have valid documents with good credit history to avail the best offers on personal loans. Otherwise, the application may get rejected or may not able to process quickly
Apply SBI Personal Loan online and avail the instant personal loan from banks at lowest rate of interest rates.
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