JeevanJyoti FINANCIAL

Phone: (020)-6529-2059

Address: M-304, Second Floor, Mega Center, Hadapsar, Pune 411028.

Personal Loan

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Personal Loan

If you want to borrow money and pay back an amount every month, a personal loan is one option. Here’s what you need to think about before you borrow and how to make sure you get the best deal for you.

What is a personal loan?

Personal loans are loans that a bank or other lender makes that are not secured against any asset such as your property. They’re also known as unsecured loans.

Pros
  • You may be able to borrow more than with a credit card.
  • Your repayments may be fixed amounts. That means you know your repayment amount is going to be the same every month, so it makes it easier to budget. The interest rate you pay on a personal loan is also usually fixed (but not always).
  • You are able to choose how long you’d like to take to repay the loan. Remember that the length of the loan will affect the amount you are charged in interest.
  • You can consolidate several debts into one loan, potentially reducing your monthly repayment costs. But be careful, as this may mean extending the length of the loan and so paying more overall.

    • Cons
  • Personal loans have higher rates of interest than some other forms of borrowing, particularly if you want to borrow a smaller amount, such as Rs. 1,00,000.
  • Because the interest rate may reduce the more you borrow, you may be tempted to take out a bigger loan than you need.
  • Older loans (taken out before 1st February 2011) normally have an early repayment charge if you want to pay off your loan early or overpay.

    • Personal Loan Documents

    • PAN Card Copy.
    • Current Residence Proof, In case it is on rent then rent agreement along with your permanent residence proof(Latest Electricity Bill, Index II, Ration Card, Postpaid Mobile Bill Copy).
    • 3 Months Salary slip.
    • 6 Months Bank statements with salary reflection.
    • Copy of Detailed Mobile postpaid Bill.
    • Copy Of I-Card.

    All papers should be self attested

    Personal Loan Process

    1. Enquiry with a banks or financier

    You just need to provide us the all the details which has been asked at the time of apply on line for personal loan. Then we will just get in touch with you with the best deal for you. We will get you more than one bank along with their current offers to you. Choose the best offer among all the banks and then you can select your bank based on the information you have in front of you.

    2. Collection of Documents

    After selecting your bank, we will send a document executive to your place along with application form for collecting documents and signing the application form. Also you can collect the visiting card from him on account of confirmation that he has came to you on behalf of M/s JeevanJyoti Financial Services and then you can handover him the supporting documents like proof of income, residence proof, bank statement, identity proof and other relevant documents etc. These documents vary from bank to bank.

    3. Verification & Investigation

    After submitting the documents in day or two, all should get verified by either visiting your residence or work place from the bank side. This is compulsory that you are present during this visit to make loan get confirmed otherwise your application can get rejected by the bank.

    4. Personal Discussion

    After the all above process done by the bank and get the required reports on file. Credit manager of the bank will do the PD (Personal Discussion) it is all about to know more about you and find out the today's financial situation of the customer and find out the end use of this loan amount.

    5. Loan approval

    If everything going fine and the bank is satisfied with the verification, PD etc the loan is approved. The bank then disburses the amount through cheques, direct credit the amount of your account or demand drafts.

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