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
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.