About Suryoday Small Finance Bank Personal Loan
Are you looking to apply for personal loans? Then we got you because now Suryoday Small Finance Bank Personal Loan Approval Process
provides people with a personal loan with the best deals and offers that will benefit the people. You can also check personal loans from the Dialabank Personal Loan website. You can visit the official website of Dialabank for other types of loans. Now, if we come back to the Suryoday Small Finance Bank, then the best selling points of Suryoday Small Finance Bank Personal Loan Approval Process are the following:-
- Suryoday Small Finance Bank offers pre-approved personal loans at a low rate for the costumers with strong credit-card history and those with an already existing account with the bank.
- Suryoday Small Finance Bank also has an online application where the KYC and documents submission can be done digitally.
- You can also easily check your Suryoday Small Finance Bank personal loan application status on a real-time basis on the bank’s website or by visiting the customer care centre.
- Suryoday Small Finance bank also has special schemes and different income and occupation groups.
Suryoday Small Finance 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 Suryoday Small Finance bank Personal Loan
Suryoday Small Finance bank Personal Loan Approval Process
You are required to bring the following documents to avail personal loan from Suryoday Small Finance Bank:-
Steps to Apply for Suryoday Small Finance Bank Personal Loan
If you want to apply for the Suryoday Small Finance Bank Personal Loan, you can do it online or directly visit the branch. We will let you know the process both online and by visiting the branch. If you are planning to apply, then you have to follow the steps mentioned below:-
- Visit the website of the Suryoday Small Finance Bank or contact the branch of the Suryoday Small Finance Bank.
- Fill in the personal, professional and financial details as required by the bank and submit the form.
- Once you submit the form online, the bank will check your eligibility and then let you know about the eligible amount.
- Once you agree to process the application, you will have to submit the essential documents, which can be uploaded online.
- At last, your documents will be processed by the Suryoday Small Finance Bank, and on successful approval of the loan, the funds will be disbursed to your Suryoday Small Finance Bank account immediately.
Now if you decided to visit the branch directly then you have to follow the steps given below:-
- Visit the Suryoday Small Finance Bank branch and fill in the application form with the required personal details, occupation information, and contact number.
- The Suryoday Small Finance Bank representative will explain the eligibility of the loan as well as the loan rates, terms, processing fees, prepayment, and foreclosure clauses.
- After submitting the application form and required documents, you will be provided with an application reference number. You can use this number to track the status of your Suryoday Small Finance Bank Personal Loan application.
- On successful verification, the loan can get disbursed immediately after loan sanction and signing of the agreement.
Suryoday Small Finance Bank Personal Loan Approval Process FAQs
✅ What if I default on my loan repayment when I have offered collateral security?
Personal loans are unsecured loans which mean if you don’t fulfil the loan criteria, you may still be able to get a loan by offering collateral security. In such cases, you have to be careful about repaying the loan before the tenure ends.
✅ What happens if I default on my EMIs and have a guarantor?
A guarantor is someone who guarantees the repayment of your loan on your behalf. So, if you’re not able to repay the loan amount within the tenure and when the instalments are due, your guarantor or co-signer will be asked to pay them.
✅ If I have a co-applicant and I default on my repayment of the loan. What will happen?
Co-applicants for a Personal Loan are equally responsible for the repayment of the loan. If one applicant fails to repay the loan, the remaining applicants are bound to do so. So, if you’re unable to pay the EMIs on time, then your co-applicant is expected to pay them regularly. If your co-applicant also fails to repay the instalments of the loan on time, it will result in a repayment default of the loan amount.
