Personal loans in Kanpur start from 10.25% p.a. onwards, for loan amount of up to Rs 40 lakh and tenures of up to 5 years. PSU Banks might offer personal loans at lower interest rates and for longer tenures. Pre-approved instant personal loans are offered to select customers.
Personal Loan Features
- Interest rates for personal loans in Kanpur usually start from 10.25% p.a. onwards
- Loan amount is up to Rs 40 lakh
- Loan tenures mostly range up to 5 years; up to 7 years for some banks/NBFCs
- Pre-approved personal loans offered to select customers
- Instant loan disbursal is offered to personal loan applicants
- No restrictions on end-usage, other than speculative purposes
- No collateral security required
- Processing fees is up to 4%
Income Requirements
Minimum Monthly Income: Rs 15,000 (for salaried applicants); some lenders might set higher cut off for minimum salary requirements
Eligibility for Personal Loan in Kanpur
- Only Indian residents are eligible for personal loans in Kanpur
- Age: 21 years (while applying for loan); 70 years (when loan matures)
- Job profiles: Public and private sector employees, employees of State/Central/Local government, salaried employees, self-employed professionals and self-employed non-professionals,
- Credit Score should be 750 and above for increased possibility of availing personal loan and at lower interest rates
Also Check:- Credit Score
Documents Required for Personal Loan in Kanpur
- Application form duly filled with photographs attached
- Identity Proof- PAN Card/ Voter ID/ Driving License/Aadhaar Card/ Passport
- Address Proof- Aadhar Card/copy of ration card /Voter ID/Driving License/ Passport/electricity bills /gas connection bills
- Age Proof- Aadhar Card/Birth Certificate/SSC Certificate/Voter ID/PAN Card
- ITR/ Form 16 for past 3 years
- Last 3 months’ salary slips
- Last 6 months’ bank account statement