Personal Loan in Delhi

The capital of India, Delhi is situated in the northern region of the country, bordered by Haryana on the north-west and Uttar Pradesh on the south-east. The city is the most populous among all in the country. It is a union territory; however the political administration is like a full-fledged state. The Indian capital has its own high court, legislature and an executive council of ministers. It is governed jointly by the local government and federal government of India; however the civic administration is under the Municipal Corporation.

About Personal Loan in Delhi

For any urgent requirement of financial resources, the best option is to go for a personal loan as it is quite easy and, quick and convenient. Personal loan is a form of unsecured loan and hence requires less processing time. There is no need of any guarantee for this loan. Loanbaba is your trusted personal loan provider in Delhi, which helps compare funding options from leading providers such as ICICI, Axis and SBI etc.

The lending bank/ NBFC will need your income proofs to access your repaying capacity. Apart from well-known reputed banks, there are various NBFCs (Non Banking Financial Companies) which provide convenient personal loans in Delhi. You can compare personal loans interest rates in Delhi on loanbaba.com.

Feature of Personal Loan in Delhi
  • Lender does not ask for any guarantee or collateral security.
  • There is no change in the rate of interest during the loan tenure even if the market rates fluctuate.
  • Repayment period is flexible which can be extended up to 60 months.
  • One can opt for easy installments through any banking channel like ECS, standing instructions, post dated cheque, etc.
Benefits of Taking a Personal Loan
  • There is no need to reveal the purpose of advance. You can keep it secret as per your choice.
  • If the loan is utilized in construction of new house or renovation of existing property then you can claim tax deduction under section 24B, subject to a condition that you prove that the loan has been utilized for the above said purpose.
  • Documentation requirements are minimal.
  • The processing time is very less. It takes less than 72 hours to disburse the loan however in most of the cases disbursement takes place in the same day.
  • Interest rate is marginally lower than that in credit cards.
Documents Required

1. Salaried individuals

  • Identity card- Aadhar, PAN, driving license, voter Id
  • Address proof- Aadhar, passport, ration card, driving license
  • Salary slips of last 3 months
  • Passport size photographs- 2
  • Last 6 months bank statement in which salary is credited

2. Self-employed individuals

  • Passport size photographs- 2
  • Identity card- Aadhar, PAN, driving license, voter Id
  • Address proof- Aadhar, passport, ration card, driving license
  • Audited balance sheet and profit and loss statements for last 2 years
  • Business continuity proof for last 5 years along with address proof of the office
Eligibility
  1. Age: 21-60 years for salaried individuals and 25-65 years for self employed.
  2. Income: Minimum Rs. 15,000 for salaried individuals. For self employed turnover should be 15-40 lakh with minimum profit after tax of Rs. 1 lakh for professionals and 2 lakh for proprietorship concern.
  3. Processing charges of 1.5% to 2.5%.
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