Personal Loans

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Personal loans

FINVASIA offers Personal Loan to its customers to meet unexpected financial exigencies at competitive interest rates and ultra-fast processing

Features

  • 1. Digital Processing
  • 2. Geographical outreach- PAN India
  • 3. Age: 21-58 years
  • 4. Tenure: 12 to 60 months
  • 5. Loan amount: Rs 50,000/- to Rs 5,00,000/-
  • 6. Interest type: Fixed (to be serviced monthly)
  • 7. FOIR (Fixed obligation to income ratio ): 60%
 

 

Charges 

Type of Charge 

Amount 

Pre-closure charges 

3% (+GST) of outstanding 

Processing Fees 

2% of loan amount + GST, not exceeding Rs 5000/- + GST 

Penal Charges 

2% of the amount in default (overdue amount), on non-repayment of EMI. 

Documentation charges 

Rs 500/- + GST 

ENACH Bouncing Charges 

 Rs 500 (+GST) per occasion. 

Eligible Customer segment

 
  1. 1. Personal Loan to salaried Individual :
    • Eligibility: All Confirmed/permanent employees of State/Central/ PSU/ Departments, Multi-National Companies, Listed Companies, and Reputed Pvt Ltd Companies with or without existing relationship with FINVASIA.
    • Minimum Salary: Net payout of Rs. 20000/- per month
    • The existing loan account holders with a minimum 12 months and with clear repayment track records will be elligible for a top-up facility
    •  
  2. 2. Personal Loan to self-employed Professionals and Non-Professionals:
  3. Minimum salary : Rs 2,00,000 /- annum
  4. The existing loan account holders with minimum of 12 months and with a clear repayment track records will be eligible for top-up loan facility

 

KYC Documentation/ requirement

  1. 1. Identity/Signature proof- PAN Card/ Passport
  2. 2. Address proof- Aadhar Card/ Voter’s ID card/ Driving license
  3. 3. Mandatory UIDAI verification
  4. 4. Income documents:
    1. Salaried: 2 years Form 16/ITR, 3 months salary slip, 6 months’ account statement with regular salary credit
    2. Self-employed: 2 years ITR with computation, 1 year bank account statement having business transaction, entity existence proof. (GST/UDYAM/FSSAI/IEC)