Personal Loans in Agartala

How to Get a Personal Loan in Agartala

Do you live in Agartala? Are you looking for a suitable personal loan and wondering what your options are? Read on!

What is a Personal Loan?

A personal loan is an unsecured loan, meaning it is sanctioned without the customer providing any collateral or security. Thus, the interest rates of personal loans tend to be on the higher side, making it one of the costliest loans in the market.

The end use of the loan could be anything—it has complete flexibility of end use—unlike many other kinds of loan. The borrower has full freedom to use the money for any purpose they want – for example, take a vacation, fund a child’s wedding, medical emergency purposes, expansion of business, etc. Some lenders offer personal loan for people with low credit score, though on very unfavorable terms and conditions - like a very high interest rate.

Personal Loan in Agartala

Almost all major banks and NBFCs offer personal loans in Agartala. Many banks and lenders allow you to apply for a loan online, even if they do not have a presence in Agartala. With a personal loan, you have the freedom to use the money in any way you want.

A personal loan in Agartala also doesn’t require any collateral (this may depend on your creditworthiness—a few banks might ask for a guarantor, or a token security of some sort). But mostly, banks offer personal loan in Agartala without any collateral / security, meaning you are not required to provide any security to the lender in the form of cash, shares or any other assets. This might make it more attractive to some customers who may not be able to raise the cash required as collateral.

Eligibility for Personal Loan in Agartala:

• Age criteria: The applicant’s age should ideally be between 21 years to 65 years.
• Salaried, self-employed, and business professionals are eligible to apply.
• Minimum salary for salaried people should be at Rs. 15,000. The salary bracket depends on what tier of city you live in and the company you work for.
• Should be staying in the same address / city for at least 1 Year
• Total work experience should be at least 2 Years

Documents Required for Personal Loans in Agartala

For salaried / self-employed professionals:

The documents required is pretty basic: Address proof, identity proof, 6 months / 3 months bank statements etc. For professionals, your degree certificate might be requested for. Following are an overview of the documents generally asked while applying for a personal loan in Agartala:

• Valid Identity Proof - Passport, Driving License, Voter ID Card, Aadhar Card, PAN Card (any one document to be submitted)
• Valid Address Proof – Lease/Rent Agreement, Passport, Driving License, Ration Card, Utility bill (not more than 3 months old), Bank Statement
• Income Proof Documents – Latest 6 months salary slip and latest Form 16
• Bank Statements: Past 6 months bank statement with salary credit
• Any other documents as directed by the Bank or NBFC

Personal Loan in Agartala FAQS

How to apply for Personal loan in Agartala:

You can apply directly online at the bank/ NBFC's website;

You can go in person to the branch to apply for a loan;

Need help? Alternatively, if you think you need help with your loan application process and advice on loan eligibility, CreditMantri can guide you and match you with the loan offer that best suits your profile.