Personal Loan of ₹70,000

Personal Loans come in handy whenever you require funds for urgent medical emergencies, educational expenses, marriage, or home renovation. You can easily avail a  Personal Loan of ₹70,000 at a low-interest rate starting from 10.49% p.a. for an extended tenure of up to 5 years. The factors considered for granting a Personal Loan of ₹70,000 by lenders are your monthly income, credit score, job, and employer profile.

Purpose of a ₹70,000 Personal Loan

A Personal Loan is considered the most versatile type of funding; the loan amount can be used for any purpose you desire. It can be used to manage unexpected medical bills, wedding expenses, big-ticket purchases, or debt consolidation. You can easily repay your ₹70,000 Personal Loan through affordable EMIs.

Interest Rates for ₹70,000 Personal Loan

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.

Eligibility Criteria for ₹70,000 Personal Loan

Personal Loans can be availed by anyone who meets the basic eligibility criteria set by the lender or the bank. If you fulfil all the eligibility criteria, you need to submit a set of documents in order to complete the ₹70,000 Personal Loan application process. The major eligibility criteria are:-

• The nationality of the applicant should be Indian.

• The age of the person applying must lie between 21 to 67 years.

• Employees from all the sectors like public, private, or MNC, can apply.

• Generally, a CIBIL score of 750 or higher is recommended.

• The minimum monthly salary should be ₹22,000. This may vary based on the city of residence.

The city where the applicant resides and the monthly salary is the most important eligibility criteria that decide the approval of a loan. The minimum salary requirement to apply for this Personal Loan is just ₹22,000. Before starting the application process, you need to keep the required documents with you so that you can easily upload them while filling out the online application form.

How to Apply for a ₹70,000 Personal Loan

You can follow these simple steps to apply for a ₹70,000 Personal Loan:-

• Step 1: Choose a bank from where you wish to obtain a ₹70,000 Personal Loan

• Step 2: Browse the bank’s official website or download its app.

• Step 3: Navigate to and click on the ‘Personal Loan’ section.

• Step 4: Fill in the application form accurately.

• Step 5: Read the terms & conditions as well as the other charges associated with the loan.

• Step 6: Lastly, submit the form along with the required documents.

Documents Required to avail a ₹70,000 Personal Loan

The list of documents needed to apply for ₹70,000 Personal Loan includes:

• Employee ID card of the applicant

• KYC documents comprising of PAN card/Aadhaar card / voter’s ID/ passport

• Proof of income: salary slips for the last 2-3 months

• Bank account statements for the last three months

₹70,000 Personal Loan EMI

The EMI for ₹ 70,000 Lakhs Personal Loan varies based on the chosen tenure and the interest rate. The EMI also depends on several other factors like the loan amount and the CIBIL score of the applicant. You can check the following table to know about ₹70,000 Personal Loan EMI for different tenures up to 5 years at a low Personal Loan interest rate of 10.49% p.a.