About Meghalaya Rural Bank Personal Loan
Meghalaya Rural Bank provides several financial services to its customers. If you are looking for personal loans then you have reached the right place. Meghalaya Rural Bank offers customers numerous benefits and deals along with low-interest rates.
To know more about the procedure of personal loans, visit the official site of Dialabank. Dialabank is a financial service helpline that assists you with details and the complete procedure of documentation.
Meghalaya Rural Bank Personal Loan Eligibility
*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000 Click here to know more about - Salaried Applicant *Note: The eligibility criteria vary from lender to lender. *Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions
Particulars
Salaried
Self-Employed
Age
21 - 60 years
21 - 65 years
Minimum Income
Rs.15,000*
Rs.5 Lakh p.a.
Co-applicant
Not mandatory
Not mandatory
Loan Tenure
12 – 60 months
12 – 60 months
Maximum Loan Amount
Rs.40 Lakh
Rs.40 Lakh
Employment Type
Employees of private limited companies and public sector undertakings
Employment/Business Continuity
At least 2 years; minimum 1 year with current employer
5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score
750 and above
750 and above
Residential Status
Click here to know more about - Self-employed ApplicantCheck Personal Loan Eligibility with Top Lenders in 2021
Bank
Age Limit
Minimum Work Experience
SBI
Up to 76 years
NA**
Rs.15,000
HDFC
21 to 60 years
2 years
Rs. 20,000
Private
23 to 58 years
2 to 5 years
Rs.17,500
Axis
21 to 60 years
NA**
Rs.15,000
Kotak Mahindra
22 to 55 years
1 year
Rs.25,000
Tata Capital
21 to 58 years
1 year
Rs.15,000
IndusInd
21 to 60 years
2 to 5 years
Rs.25,000
Ujjivan Small Finance
22 to 58 years
NA**
India Infoline Finance Limited
25 to 60 years
6 months to 2 years
Rs.35,000
HDBFS
21 to 65 years
1 year to 3 years
Rs.1 lakh p.a. for self-employed
Indian Overseas Bank
Up to 58 years
NA*
Rs.5,000
IDFC First Bank
23 to 68 years
3 years
NA*
Federal Bank
21 - 55 Years
3 years
Rs.25,000
Punjab National Bank
21 – 58 years
2 years for doctors
Rs.15,000
Andhra Bank
21 - 55 years
NA**
NA*
Canara Bank
NA**
NA**
Self-employed - Rs. 1.5 lakh
IDBI Bank
Up to 75 years for Pensioners
NA**
Rs.1.5 lakh p.a.
Fullerton India
21 to 55 years
1 to 2 years
Rs.15,000
RBL Bank
25 to 60 years
1 to 3 years
Rs.25,000
Bank of Baroda
21 to 60 years
1 year to 2 years
Deutsche Bank
25 to 60 years
NA**
Rs.25,000
Karnataka Bank
NA**
3 years
NA*
United Bank of India
up to 75 Years
2 years
NA*
UCO Bank
21 to 65 years
1 year to 5 years
Rs.20,000
Learn More about Personal Loan: Click Here
Documents Required for Meghalaya Rural Bank Personal Loan
Meghalaya Rural Bank Personal Loan Approval Process
Once you fill In your loan application and submit it to the lender or bank, there is a certain approval process that needs to be fulfilled:
- The bank will check your salary deposits, bank statements and all financial documents provided by you.
- The verification regarding your identity proofs will be checked by the bank based on your application.
- Then the lender will check your CIBIL for credit score to check creditworthiness.
- If your credit score is low, it can lead your loan application to rejection, so the Credit score should be higher than 750.
- Your Credit Score needs to be high because it determines your eligibility and a good score increases your chances of getting a loan.
- A tenure or loan amount will be decided based on your credit score, annual income, age and more.
- On the basis of all these criteria, your loan and the amount will be approved.
Steps to Apply for Meghalaya Rural Bank Personal Loan
Here are the steps on how you can apply for a Personal Loan in Meghalaya Rural Bank:
- There are two ways to apply for personal loans, Online and in person. For the online method, visit the official website of Meghalaya Rural Bank. If you can’t apply online, then visit the nearest branch of the bank.
- After reaching the nearest branch, the representative will explain the loan rates, eligibility, terms, processing fees and other clauses.
- Now you need to fill in all the personal, professional and financial details the lender has asked for and then you need to submit the form.
- Once you have submitted the form, the bank will check your provided information, including your eligibility and the available amount.
- If the bank has accepted the application, then you will be asked to submit the necessary documents. You can also upload it online.
- Then your documents will be processed by the bank. Now with the successful approval of the loan, your bank account will receive the funds immediately
Meghalaya Rural Bank Personal Loan Approval Process FAQs
✅ What can a personal loan be used for?
An individual can use a personal loan for debt consolidation, appliance purchases, home renovations and others. In some sectors, loans can also be helpful for business investments, down payments of house, medical bills and more.
✅ What is the age eligibility to apply for a Personal loan in Meghalaya Rural Bank?
The age eligibility to apply for a personal loan in Meghalaya Rural Bank is 21 to 58 years.
✅ Can an applicant apply for a personal loan jointly with their spouse?
Yes, personal loans are applied together with a co-applicant or either just by an individual. However, the co-applicant cannot be anyone apart from your family member. So, for example, it can be your parents or spouse.