Guwahati is the capital of the northeast Indian state known as Assam. It is a peaceful city with rivers and hills around it. It is a transit halt for millions of people who visit different places in the northeastern parts of the nation. It is a leading port city that has been witnessing extensive progress over the past few years.
If you are in need of a personal loan for any of your needs in the city of Guwahati, you can conveniently apply for one on the Internet or by going to your lender’s branch located in the city. When you apply online, you can complete the entire application process on your own without any professional assistance. On the other hand, when you visit a branch, you will most likely have to take help from a branch executive to complete the full process.
|Interest Rate (Monthly reducing balance)||10.99% to 24% p.a.|
|Processing Fees||Up to 2.5% of the loan amount|
|Loan Tenure||1 year to 5 years|
|Pre-closure Charges||2% - 5%|
|Guarantor Requirement||No guarantor required|
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:
This table shows the interest rates for some of the banks that offer personal loans in Guwahati:
|Name of bank||Interest Rate Range||Processing Fee Range||Loan Amount||Tenure|
|Citibank||10.99% to 19.99% p.a.||Up to 2.5% of the loan amount||Up to Rs.30 lakh||1 to 5 Years|
|Aditya Birla||14% to 26% p.a.||Nil||Rs.25,000 to Rs.15 lakh||6 to 36 months|
|Bank of Baroda||1-year MCLR + SP + 3.00% to 1-year MCLR + SP + 8.00%||Rs.1,000 to Rs.10,000 2% of your loan amount||Rs.50,000 to Rs.10 lakh||Up to 60 months|
|UCO Bank||11.20% to 11.45% p.a.||1% of loan amount||Up to Rs.10 lakh||Up to 60 months|
|State Bank of India||11.85% to 14.70% p.a.||1%||Rs.25,000 to Rs.15 lakh||Up to 84 months|
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.
The maximum loan amount will depend on your lender. It will be determined by your repayment ability, credit history, and relationship with your lender.
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.
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.
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.
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.
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