Top Five Step To Increase Your Personal Loan Approval Ratio
Top five steps
Know your exact eligibility.
Submit complete set of documents what they need to start personal loan process.
Need good bank history and existing loan repayment record.
Need good Cibil [Credit Information Bureau of India limited] score.
Know your exact eligibility.
Eligibility has depends may factors
Loan Amount Eligibility
Loan amount should be minimum Rs. Fifty thousand to maximum Rs. Fifteen lakhs.
Age Eligibility
Age should be between 23 yrs to 58 yrs
Income Eligibility
Income eligibility vary from each customer, normally 50% of the monthly income is taken to calculation.
Submit complete set of documents
To start the personal loan process you have submit some nominal documents, there are following documents Proof of Residence, Proof of Identity, Latest two months pay slip, Latest six months transaction of bank statement. Loan document checklist Make sure you check with your Bank or NBFC to figure out which of the following documents you need to submit, as the requirements differ from bank to bank. Here is a standard list of options for each document required.
Identity proof:
Driving license
Voters ID
Passport
PAN card
Ration card
Employee ID
Bank passbook
Letter from a recognized public authority or public servant verifying your photograph
Confirmation letter from your employer or another bank verifying your photograph
Address Proof:
Driving license
Voters ID
Passport
Ration card
Bank passbook or Bank account statement
LIC policy/ receipt
Utility Bill - telephone, electricity, water, gas (less than 2 months old)
Letter from any recognized public authority verifying residence address
of the customer
Letter from your employer
Age Proof:
Driving license
Passport
Bank passbook
PAN Card
Birth certificate
10th standard mark sheet
Signature Proof:
Driving license
Passport
PAN card
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Income Proof:
The following set of documents that detail your credit profile varies according to
whether you are a salaried individual or a self-employed individual.
Salaried Individuals:
Income Proof (you just need to provide one of the options listed for income proof):
Latest Pay slip
Latest 3 months salary account bank statement
Form 16
Increment/Promotion letters
Appointment letter
Certified letter from Employer
Photographs
Need good bank history and Repayment track record
If you already took or having personal loan or some other loans [two wheeler loan, consumer loan, jewel loan, credit card ]you must made on time payment of previous or present loan history
Need good Cibil score
If you have been made good repayment of your credit card bills and previous loans (Personal loan / Home loan / Business loan / Mortgage loan / vehicle loan) on time then your credit score will obviously be good. Credit score role is important and critical in personal loan approval process. Your credit score capability to pay back a loan on your credit information report.
Dully filled all Colum in loan application form
You must fill your loan application, application form spoke to for you, so you give all details about you, if you are filled all details for you bankers to take decision quickly.
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