Instant Short Term Personal Loan In Hyderabad

When we talk about Hyderabad, the first thing come to our mind is the old city of Nawabs and Kebabs. Well, the present scenario is way different from that though. Hyderabad is considered to be the third fastest growing city in Asia now and a booming financial powerhouse with a population of more than 10 million. With such an aspiring population the demand for funds is increasing day by day in this bustling city. If you stay in this city and need a Short Term Personal Loan In Hyderabad then you must go through this article to get an overview.

Eligibility criteria for a short term loan in Hyderabad

• You must be a resident Indian citizen.

• You must be aged between 21 years to 60 years..

• You must be either a salaried or, a self-employed individual.

• A CIBIL score between 750-900.

Documents required for a short term loans

• PAN Card / Aadhaar Card/ Driver’s license.

• Recent passport-sized photographs.

• The last 6 month’s salary slips.

In case you are a salaried professional

• The minimum eligible salary is 30-35K per month.

• 1 year of work experience with proof of at least 6 months completed under your current employer is required.

• The last 3 month’s salary slips.

In case you are a businessman or, self-employed individual,

• The annual turnover is required.

• The audited copies of yearly balance sheets and annual profit statements after-tax are required.

Fees and rate of interests applicable for a short term loans

• The rate of interest for a Short Term Personal Loan In Hyderabad varies from 9.6% to 36% per annum depending on the lender and your eligibility criteria.

• A processing fee of 1.5%-3% of the total loan amount is applicable.

• Bank charges 2%-5% pre-payment or, loan foreclosure charge depending on the remaining principal amount.

• You need to pay at least 3 to 6 EMIs before you apply for a loan foreclosure.

Hope this helps you to get a hassle-free Short Term Personal Loan in Hyderabad.

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