If your home needs urgent repairs, are you short on cash at the moment? Take out a personal loan. Whether it’s the expense of re modelling your home by using new furniture or cutting-edge fixtures or patching the gaps in your bathroom’s leaking walls, you can submit an application for online loans and receive the opportunity for the most competitive personal loans. If you are interested in redesigning or refurbishing the space in which you work, you can opt for a personal loan.
The most beneficial thing about a personal loan is that it requires no collateral and may be used to cover a wide range of costs.
Personal Loan Highlights | |
Interest Rate | 14% p.a. onwards |
Loan Amount | Up to Rs 25 Lakhs |
Tenure | Up to 5 years |
Minimum Monthly Salary | Rs 20,000 |
Processing Fee | 1% – 4% |
Personal Loan Features and Advantages
- Variable interest rates
- Swift loan approval
- Simple documentation and complete transparency
- Maximum loan amount of Rs. 25 lacs
- Flexible repayment terms ranging from one to five years
- There are no hidden costs or processing expenses.
- Funds will be transferred to your account within two days.
Eligibility Requirements for a Personal Loan
For speedy loan approval and disbursement, you must meet the specific criteria:
- Age range: 25 to 65 years
2. Minimum monthly net salary: 20,000
3. Minimum job experience: 3 months
4. Types of employment include employed or self-employed individuals.
5. Loan eligibility: CIBIL Score 700+ - Loan amount: between Rs 50,000 to Rs 25 Lakhs
Documents Required to Apply for a Personal Loan
- KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
- Last 3 month Salary Slip
- Last 6 month Bank Statement in PDF
- Form 16 of last 2 year
- Rent Agreement if rented or Utility Bill if residence is owned
- Sanction Letter of all current running loan if any
- Office ID Card or Official EMAIL ID if any
How Can you apply for an SBM Personal Loan?
- Check out SBM’s official portal and ask for a personal loan online by completing the application form.
- If you match the qualifying requirements, the SBM will assign its relationship management to contact your contact address and collect the required documentation.
- SBM will verify your documents immediately after they have been submitted. The application procedure may also include a discussion with the lender about your interest in obtaining a loan from them for personal use.
- If you present all of the required paperwork and the SBM meets its standards, the loan amount will be processed and transferred to your banking account.
- You can also bring the necessary paperwork to the nearest SBM branch.
If you are looking for an easy and straightforward process you can apply through Refer Loan’s website.
Check Here How Can you apply through Refer Loan?
- Once you’ve completed reviewing the details, charges, and necessary documentation for personal loans, confirm eligibility.
- You’ll be taken to the application page. Enter the basic information requested.
- Select Eligible Offers to see SBM’s offers that are accessible to you based on what you’re eligible for.
- Select Next.
- An OTP will be sent to your mobile device. For authentication, input this OTP.
- Send in your application.
Have fun with life to its maximum without thinking about monetary resources.
Conclusion
For example, if you borrowed money from someone you grew up with or a friend and lack enough money to repay them right away, you can use a personal loan to consolidate the financial obligation you must repay them without hampering your personal connection with them. For these reasons a personal loan would be the best option to cover whatever your need is.