Personal Loan of ₹60,000

Personal loans are easily one of the most sought-after loan options. This can be attributed largely to the wide variety of purposes for which they are taken. You can use a personal loan of ₹60,000 to manage a sudden financial crunch or acquire money for a down payment on a home or car. Other common reasons for taking a personal loan of ₹60,000 include paying credit card bills, debts or fees for education, remodelling your home, incurring wedding expenses, clearing a hospital bill, etc.

Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.

Take a look at some of the requirements an individual can meet by applying for a ₹60,000 loan.

• Medical bills

• Credit card dues

• Unforeseen emergency

• From paying off hospital bills to renovating your home, from going on a family trip to buying a gift for your children’s wedding, a personal loan has countless uses.

Many factors are considered by lenders when a loan application is submitted by an applicant, and it would be wise to know the eligibility criteria, application process and the process in advance to get faster approval and disbursal.

• Applicants must be an Indian national.

• Age of the applicant must be 21 years or above.

• Applicant must be a salaried individual, i.e., working in the public sector or a private company, or self-employed, with a minimum of 1 year in the business.

• The applicant must have a minimum monthly earning of ₹15,000 to acquire a ₹60,000 loan

If you are looking to apply for a ₹60,000 loan online, here’s a step-by-step guide that will help you with your loan application:

• Step 1: Start by requesting ₹60,000 loan quotations from various lenders to compare their interest rates, loan tenure, product offerings, etc.

• Step 2: Finalise the bank or lending institution with the quote that meets your requirement. 

• Step 3: Visit their website or mobile app and go to the ‘Personal Loan’ section. 

• Step 4: Fill out the application form and check the list of necessary documents that you will need to keep handy.

• Step 5: Read up on any additional charges, processing fees and any other costs you may incur in the process. 

After you submit your application online, one of the representatives will reach out to you and take your loan application process ahead. Alternatively, if you want to understand more about the terms and conditions of repayment for a ₹60,000 loan, then you can also visit the bank’s nearest branch and apply for a loan by filling out their application in person.

Here’s a list of basic documents you must keep with you when you are applying for a ₹60,000 loan:

• Identity proof – PAN card, Aadhaar card, Voter’s ID 

• Address proof – Aadhaar card, Passport, Utility bills, etc

• Income proof – Bank statement, Salary slips of the last 3 months 

• Photographs – 2 passport-sized photos

• Bank account statement of the last 6 months

• Form 26AS, TDS certificate (Form 16A) or Income Tax challan to declare income tax of the business (for self-employed)

• ITR returns of the last 2 financial years (for self-employed)

• Proof of business origination (for self-employed)