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Personal Loan Documentation

Personal loan

If you are suffering from financial issues, and can not ask from any friends and relatives, then Personal Loan there is a help to you and help you to overcome all your problem related to the finance.
Personal Loan
Personal Loan refers to that type of the Loan in which applicants do not need to pledge any of his belonging or assets to the bank. It is an instant Loan which requires minimum documentation and can be availed within 48 to 72 hours.

Personal Loan Eligibility Criteria

A Personal Loan is different eligibility criteria.It is based on which bank have to approve the request of the applicant regarding the credit.There are two categories of applicants::
1. Salaried
2. Self-employed

There are different eligibility criteria for both applicants:

Salaried Applicant:

1. Firstly Minimum requirements of the age of the applicants must be 21 years and maximum up to 60 years.
2. After that, the applicants should have the experience of the minimum 3years. And the salary must be received in their accounts .
3. In addition to , the applicants must have good credit history.
4. And Job location of the applicant should be mentioned.
5. Lastly, A borrower must has minimum income in metropolitan city RS 18,000 and in non -metro city RS 12,000.

Self-employed Applicant:

1. Firstly, minimum age requirement for an independent person should be 25 years.
2. After that, the applicants applying for the personal Loan should file ITR for the last three years.
3. And If the applicants are the businessman, then the business should be running from the past three years.
4. Furthermore, The credit score of the individual applicants should be good .there should not be any debt or dues left.
5. Moreover, The annual income of the applicants should be minimum of Rs 2.5 lakh.
6. Lastly, The whole documentation process of the Personal Loan is the applicants has to submit his financial and his bank statement of the previous three months.

 Personal Loan Documentation 

  1. Residence proof:  Firstly,the documents required for the residence proof includes: (passport/ID card/ Votercard/aadharcard/ration/card/driving license) and if the applicants are living in rental apartments then has to submit his agreement, electricity bill on his name and address of the owner.
  2.  Self-employed:Beside that, the applicants of personal loan should file ITR for the last three months, and his business should be registered..Salaried applicants: The applicants have to his salary slip of last three months and bank statement of last six months.
  3. Identity proof  : Further more, verification documents especially require one among the following:( passport/ID card/ Voter card/ aadhar card/ration/card/driving license) any one of them.
  4.  Under KYC  formality:In addition to, every applicant has to submit his pan card, which is an essential document.
  5.  Two colored passport size photos: Lastly,(Applicants should not wear any glasses)

Why magic loans is a Good Platform to Apply for Personal Loan

We are suggesting to apply for the personal Loan by using magic over other sites.
The reason after that is magic loans. In the know, the value of your precious time. You will get so many perks if you apply by using this site. Here are some of them are here
•First of all, if you apply for the personal Loan from you will be entertained by so many benefits
•After that, you have to fill your Loan form, and you will get a call from outside automatically.
• Besides that, you will get some more concessions in the interest rates.
• And there is no need to go to the bank.
• Furthermore, your documents will be picked up from your doorstep.

How to Apply on magic

• Search for magic on google
• First of all, a form will open up.
• After that, fill the way with the required information.
• Besides, you will get information furthermore from us.