Rajasthan Marudhara Gramin Bank Personal Loan Approval Process

About Rajasthan Marudhara Gramin Bank Personal Loan

Rajasthan Marudhara Gramin Bank provides all kinds of financial services to its customers. It also provides a variety of benefits, offers and deals with low-interest rates in Personal loans. To know more about the procedure of personal loans, visit the official website of Dialabank. Dialabank is a financial service helpline that assists you with details, guidance and the entire procedure of documentation.

Rajasthan Marudhara Gramin Bank Personal Loan Eligibility

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	Self-employed individuals
Employment/Business Continuity	At least 2 years; minimum 1 year with current employer	4 years Post Qualification experience for Doctors/ Chartered Accountants. 5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score	750 and above	750 and above
Residential Status	Resident Indian staying in own house or a rented house

*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
Click here to know more about - Self-employed Applicant

*Note: The eligibility criteria vary from lender to lender.

Check Personal Loan Eligibility with Top Lenders in 2021

Bank	Age Limit	Minimum Work Experience	Minimum Income (Per Month)
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**	Above the minimum wage limit
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.15,000 for salaried 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**	Salaried: Rs.6,000 & above 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	60% of gross monthly income
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

*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions

Learn More about Personal Loan: Click Here

Documents Required for Rajasthan Marudhara Gramin Bank Personal Loan

Rajasthan Marudhara Gramin Bank Personal Loan Approval Process

Once your loan application is done and you have submitted it to the lender or bank, there is a certain approval process that takes place in order to approve your loan:

The bank checks your salary deposits, bank statements and all financial documents submitted 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 Rajasthan Marudhara Gramin Bank Personal Loan

These are the steps an applicant needs to follow in order to apply for a Personal Loan in Rajasthan Marudhara Gramin Bank:

There are two options to apply for personal loans, the Online method and in person. For the online method, visit the official website of Rajasthan Marudhara Gramin 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.

Rajasthan Marudhara Gramin Bank Personal Loan Approval Process FAQs

✅ What are the documents that can be submitted for Identity Proof?

For Identity proof an applicant can submit documents like Aadhar Card, Passport, Driving License and others.

✅ What is the age eligibility to apply for a Personal loan in Rajasthan Marudhara Gramin Bank?

The age eligibility to apply for a personal loan is 21 to 58 years old in Rajasthan Marudhara Gramin Bank.

✅ Why is Credit Score crucial in the approval of Personal loans?

A credit score is crucial because it determines the creditworthiness of the applicant and it helps the bank decides whether the loan should be approved or not, due to which Credit Score is important.