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Top five step to increase your personal loan approval ratio All loan seekers facing many confusion

about apply personal loan because many ba nks / financial institutions providing personal loan. Generally we purchase vehi cle or house is hypothecation or pledged as a security by banks / financial inst itutions. But personal loan no need security and guarantee. Top five steps Know your exact eligibility. Submit complete set of documents what they need to start personal loan process. Need good bank history and existing loan repayment record. Need good Cibil [Credit Information Bureau of India limited] score. Know your exact eligibility. Eligibility has depends may factors Loan Amount Eligibility Loan amount should be minimum Rs. Fifty thousand to maximum Rs. Fifteen lakhs. Age Eligibility Age should be between 23 yrs to 58 yrs Income Eligibility Income eligibility vary from each customer, normally 50% of the monthly income i s taken to calculation. Submit complete set of documents To start the personal loan process you have submit some nominal documents, there are following documents Proof of Residence, Proof of Identity, Latest two month s pay slip, Latest six months transaction of bank statement. Loan document check list Make sure you check with your Bank or NBFC to figure out which of the follo wing documents you need to submit, as the requirements differ from bank to bank. Here is a standard list of options for each document required. Identity proof: Driving license Voters ID Passport PAN card Ration card Employee ID Bank passbook Letter from a recognized public authority or public servant verifying your photo graph Confirmation letter from your employer or another bank verifying your photograph Address Proof: Driving license Voters ID Passport Ration card Bank passbook or Bank account statement LIC policy/ receipt Utility Bill - telephone, electricity, water, gas (less than 2 months old) Letter from any recognized public authority verifying residence address of the customer Letter from your employer Age Proof: Driving license Passport Bank passbook PAN Card Birth certificate 10th standard mark sheet Signature Proof:

Driving license Passport PAN card Income Proof: The following set of documents that detail your credit profile varies according to whether you are a salaried individual or a self-employed individual. Salaried Individuals: Income Proof (you just need to provide one of the options listed for income proo f): Latest Pay slip Latest 3 months salary account bank statement Form 16 Increment/Promotion letters Appointment letter Certified letter from Employer Photographs Need good bank history and Repayment track record If you already took or having personal loan or some other loans [two wheeler loa n, consumer loan, jewel loan, credit card ]you must made on time payment of prev ious or present loan history Need good Cibil score If you have been made good repayment of your credit card bills and previous loan s (Personal loan / Home loan / Business loan / Mortgage loan / vehicle loan) on time then your credit score will obviously be good. Credit score role is importa nt and critical in personal loan approval process. Your credit score capability to pay back a loan on your credit information report. Dully filled all Colum in loan application form You must fill your loan application, application form spoke to for you, so you give all details about you, if you are filled all details for you bankers to tak e decision quickly.

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