Group loan is designed to extend the loan facility to borrowers with the objective of helping people to meet their financial requirements. If you are seeking for taking a group loan you must be well prepared. Read this article and prepare well before you take a Group Loan In Burdwan.
Key features -
- Loan amount- based upon the money lender’s policy
- Age of the applicant- Between 18 to 58 years
- Loan tenure- maximum 24 months
- Security- group guarantee
- Processing fees- based upon the lender (inclusive of GST)
- Interest rate- based on the lender policies, etc
Eligibility criteria -
The applicants who find them to be interested in taking Group Loan in Burdwan must compulsorily meet the following criteria for the loan approval-
- Should fulfill KYC documents requirements
- Age must be compulsorily between 18 to 58 years
- Borrower should not have an adverse credit record
- Should meet the acceptable credit norms as per the lender
- Should be a member of the group of customers who are willing to assure each other for the loan repayment
How you can apply for the loan?
To apply for getting the loan to follow the steps mentioned below-
- Visit the neighboring branch and meet the loan executive to get the proper guidance regarding your loan application.
- Double check their terms and conditions before signing any further
- Ensure how much is their interest rate
- Ensure that no hidden or miscellaneous costs are charges for no valid reason
- Make sure that they don’t have rigid terms and conditions
What are the documents needed at the time of applying for the loan?
- Primary ID proof- Aadhar card
- Secondary ID proof- PAN card, Voter ID, Driving License
- In case of non-availability of PAN card, customers are needed to submit form 60 along with any of the documents (officially valid documents) like- passport, voter ID, driving license, NREGA, the letter issued by national population register containing information like name and address
- Residence proof- Any valid KYC document and utility bill (not old one)
Keep ready all these documents at the earliest so that your loan processing is done faster.
Finale
There are plenty of Group Loan in Burdwan provider you will see proffering their clients the loan. You must wisely choose the one with whom the whole loan process remains to be an easier task. You must find one with whom you can easily show trust and readily assist you whenever you need help.