Guwahati Personal Loan

Personal Loans offered by Various Lenders in Guwahati

Let us take a look at some of the top banks and non-banking financial companies (NBFCs) that provide personal loans in the city of Guwahati:

• United Bank of India
• State Bank of India (SBI)
• Kotak Mahindra Bank
• City Union Bank Ltd
• Indian Overseas Bank
• Punjab National Bank
• Axis Bank
• ING Vysya Bank
• Canara Bank
• IDBI Bank
• ICICI Bank
• Rajkot Bank
• Bank of Baroda
• Indian Bank
• Bajaj Finserv
• UCO Bank
• Vijaya Bank
• Central Bank of India
• Bank of Maharashtra
• J & K Bank
• Allahabad Bank
• Yes Bank

How do I get a Personal Loan with the Lowest Interest Rate in Guwahati?

• Compare loans: If you really want to get a low rate of interest for your personal loan, ensure that you push yourself to compare multiple personal loan options. You need to check out the rates, fees, and other charges, and pick the most affordable loan. This can be done online with the help of your smartphone, laptop, or computer. All you need to do is check out the brochures of loan products on lenders’ websites or visit third-party financial websites to compare and contrast interest rates.
• Maintain a decent credit score: After you finalise on a loan and decide to approach a lender, you need to take care of one step to proceed further. You must make sure that your credit score is maintained well. This score is given by credit bureau agencies depending on your credit behaviour. The score should ideally be 750 or above. In case your credit score is low at the time of applying for a particular personal loan, your chances of getting your loan approved will be pretty low. Hence, if you have a pretty poor score, put in that little extra effort to boost it by being properly financially disciplined. You can then apply for a loan for a better result.
• Job status: Your lender may actually do a background check of your job details to make sure that you have a steady source of income. You can also provide a proof of your income and proof of employment to show how much you are earning. This can be done by showing your most recent payslips, bank statements, offer letter, relieving letter, etc. Moreover, if your lender has collaborated with any of your employers, you may get preferential or special rates of interest for your personal loan.

Personal Loan Interest Rates in Guwahati 2018

This table shows the interest rates for some of the banks that offer personal loans in Guwahati:

Salary requirements to avail Personal Loans in Guwahati

In order to be able to apply for a personal loan in the city of Guwahati, you will be required to meet a few basic eligibility criteria. This typically includes age criteria, income criteria, and repayment ability criteria.

You should be at least 21 years and not more than 60 or 65 years while applying for a personal loan. The age requirement will vary from lender to lender.

The salary requirements will also differ from lender to lender. However, you will definitely have to be earning a good salary on a monthly basis at the time of applying for a personal loan in this city. Ideally, you should be earning at least Rs.7,500 if you are a salaried employee. If you are a self-employed applicant, your business venture should be earning a profit of at least Rs.1 lakh p.a.

Guwahati Personal Loan FAQs

1. What is the maximum loan amount that will be offered by a lender in Guwahati?

The maximum loan amount will depend on your lender. It will be determined by your repayment ability, credit history, and relationship with your lender.

2. How do I repay my personal loan in Guwahati?

You can repay a personal loan in Guwahati or in any other city through various modes. This will also depend on your lender. The common modes of loan repayment include Standing Instruction (SI), Electronic Clearing Service (ECS), direct debit from your bank account, etc. You can choose any of these as per your convenience.

3. Do personal loans come with balance transfer options in Guwahati?

Yes, you can select a balance transfer facility for your personal loan in case you want to shift the balances of your personal loan to another lender. You will have to check with your current lender and new lender regarding the terms and conditions for balance transfer.

4. In case my credit score is lower than 750, will I be able to procure a personal loan in Guwahati?

While applying for a personal loan, even a credit score of 750 and above does not assure loan approval. This is very important to remember. When your credit score is lower than 750, you may have lower chances of getting your loan approved. Hence, if you really want that loan, you could put in a little extra effort to enhance your credit score. This can be achieved by being spending money in moderation. You could also present a security or collateral as it will reduce the risk of your lender. In case you got an increment in your salary, you can display your income proof to show that you can afford to repay the loan promptly. You may also combine your spouse’s income to boost your loan eligibility.

5. Can I apply for a top-up facility with a personal loan in Guwahati?

There are quite a few lenders in the city that provide top-up options for personal loans. You could check with your lender regarding the specifications of the top-up facility. Generally, you will have to complete paying EMIs at least for 12 months and only then you can avail the top-up facility.