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  • Bangiya Gramin Vikash Bank Personal Loan

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  • Bangiya Gramin Vikash Bank personal loans are available to salaried as well as self-employed individuals to meet immediate expenses. Bangiya Gramin Vikash Bank personal loans can be availed for an interest rate of 12.75% p.a. The documentation required for the loan is minimal and the eligibility criteria are not too stringent either, thereby making it easy for you to access funds to fulfil your immediate financial needs.
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    The Bangiya Gramin Vikash Bank Personal Loan is provided to both professional and self-employed individuals to meet expenses that arise from obligation of social nature, of emergencies like medical treatments and any other expenses other than speculative activities.

    Where is the purpose of Bangiya Gramin Vikash Bank Personal Loan?

    Loan amount meant for meeting the sudden need for finance for both professional and self-employed individuals. The expenses can be like marriages, social commitments, medical expenses, etc.

    What is the eligibility criteria for Bangiya Gramin Vikash Bank Personal Loan?

    Eligibility conditions for salaried individuals are:

    1. Applicant should have been in the company for at least 2 years
    2. The salary of the applicant should be disbursed into through the branch where the loan is applied
    3. If the applicant has a co-borrower such as his wife, then her income can be added for the purpose of eligibility.

    Eligibility conditions for self-employed/ professional individuals are:

    1. The applicant should have been in business or practicing his/her profession for at least 2 years
    2. The applicant should have an account in the branch where the loan is applied, and have a minimum income of Rs. 2 lakhs per annum
    3. If the applicant has a co-borrower such as his wife, then the annual income can be relaxed up to Rs. 1.50 lakhs, and her income can be added for the purpose of eligibility

    What is the maximum amount of loan I can avail?

    1. For salaried individuals whose salary is disbursed through the Bangiya Gramin Vikash Bank they will be eligible for 12 months’ salary or Rs. 3 lakhs whichever is higher.
    2. For salaried individuals whose salary is not disbursed through the Bangiya Gramin Vikash Bank they will be eligible for 12 months’ salary or Rs. 1.50 lakhs whichever is higher.
    3. The maximum loan available for self-employed/ professional individuals will be Rs. 2 lakh or 50% of the gross annual income whichever is lower
    4. If the applicant has a co-borrower such as his wife, then her income can be added for the purpose of eligibility and the loan amount will be increased to Rs. 3 lakh

    What is the rate of interest on Bangiya Gramin Vikash Bank Personal Loan?

    1. Application for Personal Loan with a photograph
    2. Demand Promissory Note from the applicant.
    3. Letter of assignment of assigning LIP, NSC, KVP etc. in favour of the bank
    4. Post-dated cheques for all installments
    5. Memorandum of deposit of the title deed for creation of a mortgage
    6. No penalty should be charged for early repayment of loan.
    7. Latest Income Tax Return

    Interest rate provided by the Bangiya Gramin Vikash Bank will be 12.75 % p.a. (Fixed)

    What are the documents required for Bangiya Gramin Vikash Bank Personal Loan?

    Documents required for Bangiya Gramin Vikash Bank Personal Loan at the time of application will be:

    What are the terms for Bangiya Gramin Vikash Bank Personal Loan?

    The loan is available to regular employees of Central and State Governments, reputed corporates, educational institutions, etc. As well as Professional or self-employed individuals. Service Charge/Processing Fees on the sanctioned loan amount. No penalty should be charged for early repayment of loan.

        

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    Bangiya Gramin Vikash Bank Personal Loan Reviews

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