Financial requirements can materialize at any time in the fast-paced world of today. A personal loan can be a lifeline, whether it’s for a medical emergency, higher education, home remodeling, or a dream vacation. Online personal loan applications are quick and simple, thanks to Bandhan Bank, a reputable name in Indian banking. In this article, we’ll examine how to apply for a Bandhan Bank Personal Loan and emphasize how quick and simple it is.
Bandhan Bank Personal Loan: A Lifesaver for Your Money
For its customer-centric philosophy and extensive line of financial solutions, Bandhan Bank has developed a solid reputation. Among them, personal loans are a common option for people looking for financial support for a variety of reasons, including medical emergencies, educational costs, debt reduction, or even fantasy trips.
Features of Bandhan Bank Personal Loan
| Features | Details |
| Loan Amount | ₹50,000 – ₹25,00,000 |
| Interest Rate | Attractive rate of interest |
| Repayment Tenure | Flexible repayment tenure – up to 60 months |
| Loan Processing Time | Faster loan processing time with doorstep document pick-up process |
| Quick Loan Processing | Quick loan processing |
| Part Payment Feature* | Available |
| Foreclosure Charges on Loan Amount 10 lakh and above* | Nil |
*Terms & Conditions Apply
Documents Required
| Type of Document | Accepted Documents |
| Identity and Address Proof | PAN Card, Passport, Driving License, Aadhaar, Voter ID Card |
| Photograph | One recent passport-sized photograph |
| Income Proof (Salaried)* | Last three months’ salary slip and Form-16 (for 1 year) |
| Income Proof (Self-Employed)* | ITR for the last 2 years with the calculation of income, balance sheet, and P & L a/c |
(*Not applicable for online application based on pre-qualified offer)
Eligibility Criteria
The eligibility criteria for salaried, self-employed professionals, or self-employed individuals goes as follows:
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Age Criteria
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- For salaried individuals, the minimum age is 21 years;
- For self-employed individuals, it is 23 years.
- For self-employed, the maximum age at the time of loan maturity is 60-65 years.
- Salaried: Minimum 1 transaction (customer induced) is required in the main account on a monthly basis. (The main account need not be a salary account).
- Self-employed professionals (SEP)/ self-employed non-professionals (SENP): Minimum 1 Debit and 2 Credit transactions (customer induced) required on a monthly basis or 12 credit transactions in the last 12 months. (In the main account only)
Rates & Charges
The rates start from 11.55% per annum.
The Straightforward Procedure For Bandhan Bank Personal Loan
The online process for applying for a Bandhan Bank Personal Loan consists of the following steps:
1. Go to the Bandhan Bank Website:
Go to the official Bandhan Bank website to get the procedure going. You may learn more about personal loans there in detail, including the requirements for qualifying, interest rates, and available loan terms.
2. Confirm Your Eligibility:
Utilise Bandhan Bank’s online eligibility calculator before submitting an application. Your eligibility for the bank can be checked using this tool. Age, income, credit score, and employment status are typically taken into account by Bandhan Bank.
3. Complete the Application Form:
Once your eligibility has been established, complete the online application. The vital financial and personal information needed to evaluate your loan application is gathered on this form.
4. Upload Documents:
You must upload a number of documents as part of your application, including verification of your identity, address, income, and bank statements. Usually, Bandhan Bank lists the necessary paperwork on its website.
5. Loan Quantity and Duration:
You can select the loan money and term that best suits your needs while completing the form. Depending on your eligibility, Bandhan Bank offers low interest rates and a range of loan amounts.
6. Submit the Application:
After reviewing all the data, press the “Submit” button. By doing this, you transmit your application to the processing division of Bandhan Bank.
7. Verification and Endorsement:
The team at Bandhan Bank will examine the given information and documentation. Your loan application will be authorized if everything is in order and you satisfy their requirements.
8. Payment:
The loan sum will be transferred immediately into your bank account after approval. Bandhan Bank works to ensure rapid disbursal in order to immediately meet your financial demands.
Conclusion
Personal loans from Bandhan Bank provide a quick and easy way to get the money you need when you need it most. Online application convenience, competitive interest rates, and a customer-focused philosophy distinguish Bandhan Bank as a trustworthy financial partner. Bandhan Bank’s personal loans offer a solid option, providing your financial security whether you’re dealing with anticipated life events or unanticipated situations.
Applying for a Bandhan Bank personal loan online is a quick and simple way to get the money you need without the typical complications and time-consuming paperwork involved with traditional loan applications. If you are ever in need of cash, consider applying for a personal loan online through Bandhan Bank. It’s a convenient and speedy way to obtain financial aid in our fast-paced world.