Are you looking to secure a personal loan to meet your financial needs? Ujjivan Bank offers personal loans at competitive rates, tailored to individual requirements. With its wide range of features and benefits, Ujjivan’s personal loan makes it easier than ever to secure the funds you need. In this article, we will take a look at the details of the Ujjivan personal loan, including its interest rate, eligibility criteria and more. Read on for an in-depth look at all you need to know about this versatile loan option.
What is a Personal Loan?
A personal loan is an unsecured loan that you can use for any purpose. You don’t need to put up any collateral, such as your home or car, to get the loan. Personal loans are a type of installment loan, which means you borrow a fixed amount of money and pay it back with interest in monthly payments over a set period of time.
Ujjivan Bank personal loans come with competitive interest rates and flexible repayment tenures. You can use a personal loan from Ujjivan Bank for a variety of purposes, including travel, home improvement, wedding expenses, and more.
How to Apply for a Ujjivan Personal Loan?
To apply for a Ujjivan Personal Loan, the first thing you need to do is log onto the Ujjivan Bank website and fill out the online application form. Once you have submitted the form, a representative from the bank will get in touch with you to discuss your loan options and help you choose the best possible loan for your needs.
The process is simple and straightforward, and you can be approved for a loan in as little as 24 hours. So if you’re in need of some extra cash, don’t hesitate to head over to the Ujjivan Bank website and apply for a personal loan today!
Eligibility Criteria for a Ujjivan Personal Loan
To be eligible for a Ujjivan Personal Loan, you must:
-Be at least 21 years of age.
-Be employed with a private or public sector company, or be self-employed.
-Have a minimum monthly income of Rs. 15,000.
-Be a resident of an Indian city where Ujjivan operates.
If you meet these criteria, you can apply for a Ujjivan Personal Loan online or in person at a Ujjivan branch.
Documents Required for a Ujjivan Personal Loan
There are a few documents required for availing a personal loan from Ujjivan Bank. They are as follows:
1) Identity Proof: Passport, PAN Card, Voter ID, Driving License, Aadhaar Card
2) Address Proof: Passport, Rent Agreement, Electricity Bill, Telephone Bill
3) Income Proof: Latest Salary Slip, Form 16 or Income Tax Returns
4) Bank Statement: Last 6 months’ bank statements
Interest Rates and Charges for a Ujjivan Personal Loan
Ujjivan Bank personal loan interest rates are one of the lowest in the market. The personal loan interest rate starts at 11.99% per annum. There are no hidden charges or prepayment penalties.
The processing fee for Ujjivan personal loan is 2% of the loan amount plus applicable taxes. The minimum processing fee charged by the bank is Rs. 1,500/- plus taxes. The maximum processing fee that can be charged is capped at Rs. 10,000/- plus taxes.
Repayment Schedule for a Ujjivan Personal Loan
The repayment schedule for a Ujjivan Personal Loan is as follows:
-The loan will be repaid in EMIs (equal monthly instalments) over a period of 12 to 60 months.
-The first EMI will be due one month after the loan is disbursed.
-EMIs will be deducted from your account on the same day each month.
-If you make any prepayments on your loan, you will need to pay a prepayment fee of 2% of the amount prepaid.
FAQs about Ujjivan Personal Loans
Question – What are the eligibility criteria for availing a Ujjivan personal loan?
Be at least 21 years of age.
Be employed with a private or public sector company, or be self-employed.
Have a minimum monthly income of Rs. 15,000.
Be a resident of an Indian city where Ujjivan operates.
If you meet these criteria, you can apply for a Ujjivan Personal Loan online or in person at a Ujjivan branch.
Question – What is the maximum loan amount that I can avail from Ujjivan?
15 lakh
Question – What is the interest rate charged on Ujjivan personal loans?
12.50% to 21%
Question – Is there any processing fee associated with Ujjivan personal loans?
Yes its 2% of the Loan Amount
Question – How long does it take for my loan application to be approved by Ujjivan?
Generaly its take 2 to 5 days
Question – Once my loan is approved, when will I receive the loan amount?
Within 24 hour
