Chandigarh City

One of the first planned cities of India is a union territory and is the shared capital of state of Haryana and Punjab. Located at the foothills of Shivalik, the city is known for its urban planning and architecture.  The master plan of the city was prepared by the Swiss-French architect Le Corbusier. Chandigarh is located in the northern part of India. The name Chandigarah is derived from Chandi Mandir that is located near the city in Punchkula district. Chandi means the goddess Chandi and Garh means the fort. The city’s roads are surrounded by tree and it has the third highest forest cover in India at 8.51% following Lakshadweep and Goa.

The personal loan demand in Chandigarh has shot up in recent years.  There are a variety of lenders who offer personal loan in Chandigarh. Choose one for yourself wisely.

Personal loan

If you are a person with good credit history that is a high credit score and are in urgent need of money, you don’t have to go to a private money lender or take debt on your credit card. Opt for a personal loan as they are quickly available and have a lower interest rate compared to private money lenders and credit card loan. Also, unlike private money lenders the terms and conditions of personal loan from banks and non-banking financial institutions are pretty transparent.

Features

  • Personal loan is available for a tenure of upto 7 years.
  • It is available to both self-employed to salaried person.
  • It can be repaid through ECS, auto debit or post dated cheques.
  • The documentation process is very fast and easy.
  • It offers prepayment facility
  • It also comes with balance transfer facility.

Benefits

  • There are no collateral or guarantor required
  • Fixed interest rate over the tenure of the loan helps in easy repayment.
  • Unconditional use of money gives the person a sense of freedom under personal loan
  • It is quick to get a personal loan as minimum documentation is required.

 Documentation process for personal loan in Chandigarh

Salaried

Self-employed

Any one ID proof-Passport, driving license,  voter ID and PAN card

Proof of identity, address proof and DOB proof for KYC

Residence proof- leave and license agreement, water and electricity bills not older than 3 months

Residence proof- leave and license agreement, water and electricity bills not older than 3 months

Salary slips for last 3 months

Audited financial for the last two years for income proof

2 passport size photograph

Address proof of office

Latest 3 months bank statement  (where salary income is credited)

Proof of residence or office ownership

 

Proof of business continuity

Eligibility criteria for people applying personal loan in Chandigarh

Criteria

Salaried

Self-employed

Age

21-60 years

25-65 years

Income

Minimum Rs 15,000

Turnover of Rs 15-40 lakh and minimum PAT of Rs 1 lakh for professionals and 2 lakh for proprietorship , should be in current business for at least 5 years and minimum 3 years for doctors

Loan amount

Rs 15 lakh

 

Rate of interest

12.99%-15.50%

12.99% to 20%

Loan processing charges

1.5%-2.5%

1.5%-2.5%

Prepayment/ foreclosure charges

Nil-5%

Nil-5%

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