Visakhapatnam (also called Vizag), is located in Andhra Pradesh, and is known for its several beaches. It is an industrial center, and has been termed as the financial capital of Andhra Pradesh. The GDP is roughly valued at Rs.2600 crores. Other areas of contribution include heavy industry, fishing, tourism and pharmaceuticals.
With high potential for trade and commerce, this eighth largest Indian city has attracted several investors to its shores.
Applying for a Personal Loan
You can either apply online or offline but applying using online application form is quite easy.
you just have to fill some mandatory details like your name, birth date, mobile number, address and employer’s name.
Once you apply online for Personal Loan in Vizag, you have to submit the relevant documents as stated by the financing institution.
What are the Documents Required for Personal Loan in Vizag?
Check if you have the salary slips of the last 2 months, and bank statements for the last 3 months. They are used to find out your financial stability. For proof of identity, valid documents like passport, driving license, PAN Card or Voter’s ID card is accepted. You can submit ration card, latest telephone bill or a letter from your company to provide proof of residence.
Keep all the papers ready, since it will be easier to proceed with your loan.
What is the Eligibility Criteria?
You must be a salaried individual in the age bracket of 25 and 53 years. Minimum salary required for Personal Loan in Vizag is Rs.30000. You can click on the ‘Check Eligibility’ tab in the web page, and mention your birth date, income and any other details related to previous loans. Your Personal Loan eligibility in Vizag will be calculated based on these criteria.
You receive loan amount up to Rs.25 lakh, and an interest of 12.99% is levied. As processing charges, 2.25% to 3% of the loan amount is applicable. In case of foreclosure, you have to pay an extra 4% including relevant taxes on the base amount.
Personal Loan Benefits:
When you apply for a Personal Loan in Vizag, you can enjoy few features.
Weddings in India are huge celebrations. You can utilise the PL funds to finance the dream wedding in your family.
Take the stress away from your daily life, you can use a Personal Loan for your next holiday. Whether you plan to visit the islands or relax by the beaches, a Personal Loan proves to be the first choice for many of us.
Remodelling your home is no easy task. With spiralling costs and endless tasks to be completed, a Personal Loan can be your answer to instant funds.
Apply for a Personal Loan in Vizag, and use it to put your plans into action. Go through the bank’s terms and policies and remember to check your loan eligibility before applying.