Personal Loan for Pensioners- Eligibility, Document & Benefits

1. Personal Loan for Pensioners- Eligibility, Document & Benefits The monthly pension acts as collateral and guarantee for a personal loan for pension holders. Therefore, their interest rates on personal loans are always higher than those on Home, Car, or Gold Loans when sanctioning them. However, like any other loan, defaulting on a personal loan is not good as it would reflect in your credit report and cause problems when you apply for credit cards or any other loans in the future. Banks offer a huge range of personal loan schemes such as SBI personal loan for pensioners, army person, SBI personal loan for govt employees, personal loan for pensioners, HDFC Bank personal loan for central government employees. Loan providers offer personal loans of various banks to compare & choose cheapest among all for Military pensioners which includes individuals working in Army, Navy & Airforce, Paramilitary which includes individuals working in CISF, CRPF, BSF, ITBP, SSB Ex-servicemen. and How can I apply for a personal loan for pensioners in India? The process to apply for a personal loan for pensioners in India is very simple. You can visit the official website of the bank which offers this personal loan scheme and apply. You will have to provide the relevant details such as your name, age, pension you are receiving, etc. and upload the relevant documents. The bank will then review the application form and the documents, and if they are found to be correct, they will disburse the loan amount to your bank account. You can also visit your bank's nearest branch along with the relevant documents in order to apply for a personal loan for pensioners scheme. A representative from the bank will get in touch with you and will help you with the application process. www.loan4fauji.com

2. Personal loan for Pensioners Eligibility Every bank or NBFC providing personal loans have different eligibility requirements and needs. Still there are some common criteria for all the Banks & NBFCs. Before applying it is advisable to check eligibility on Eligibility Calculator. 1. Age 2. Credit Score 3. Minimum Net Income (monthly) 4. Employment Type & Work Experience Personal Loan (Documents Required) ● ● Pan card. Residence Proof- Aadhar, Passport, Driving License, Voter ID, Utility Bills & To Whomsoever Concern. Identity and Age Proof. Bank Statement (for last 6 months). Salary Slips of the last 3 months. Completely filled personal loan form & photographs. Form 16 or ITR of the last 3 years. ● ● ● ● ● Benefits Personal loan for Pensioners Personal loans as compare to other loans has its own features and benefits as given below: 1. Multipurpose use: Being multipurpose in nature, it is a most desirable option in terms of financial product. As compared to other types of loan, it can be used for various purposes like renovating your home, marriage related expenses, a family vacation, meeting unexpected medical expenses or any other emergencies. 2. Less documentation: To avail personal loan for pensioners, you have to give very less documents unlike home loans. Therefore, it takes less time to get the personal loan. 3. Quick Approval: Since less documentation is required, they get instant approval from the source bank. Personal loans are quickest & easiest to get approval as compared to other loans. 4. Unsecured Loan (No Guarantee Required): The online personal loan is an unsecured loan which means that the borrower does not have to provide any collateral to the lenders. You don’t have to explain to the bank where you want to use the personal loan amount. HDFC Personal Loan scheme provides personal loans for pensioners, defence personnel, which includes individuals working in Army, Navy, and Air force. More information about personal loans for pensioners, defence personnel, which includes individuals working in Army, Navy, and Air force. visit our website: https://www.loan4fauji.com/personal-loan www.loan4fauji.com