PERSONAL LOAN

Personalized Service: We only follow your profile and your requirement to well knowledge vendors who understand your profile and give you best.

Detailed Inquiry Form: We have prepared two types of inquiry form which helps you to take decision about your loan process. Our detailed application form submitted to our expert analyst and then result it within 24 hours. So you can easily know your eligibility, loan probability, and offers also.

Best Analyst – Zatpat loans has best analyst team which is highly educated, many years experienced and well knowledge of all bank policies. It helps you to platform your profile at right way.

Latest Offers – Zatpat loans updates immediately all new schemes running from all banks. So it is easy to choose best rate loan from all banks.

No consulting Charges – Zatpat loans itself and all vendors who are related to Zatpat loans do not take any consulting charges from customers.

Doorstep Services – Zatpat loans gives you doorstep services for all products from all banks. Vendor will come to you place from application to disbursement process. So it is easy to get best without investing time.

All Bank Offer At One Time – Every BANK and NBFC have different interest rate for different salary and profile. Zatpat loans give you the right platform where all bankers offer his best to particular profile. So it is for customer to select best option with best scheme.

Helpline – Zatpat loans has a customer care team and a virtual number who helps you take advice about loan and also help to increase your credit profile.

Stop Frauds – Some time customer are being part of fraud from vendors and of some executives. Zatpat loans give you surety of fraud free loans.

Current Personal Loan Interest Rates in India:

You have various options to get personal loan. Each bank has different interest rates different tenure and different loan amount criteria. The personal loan amount and rate of interest is dependent on customers profile like working company, take home salary, Average bank balance, designation, Cibil score etc. Every banks give personal loan on base of multiple of net take home salary. Multiple are minimum 7 and maximum 18 times of net monthly take home salary

Balance Transfer Scheme:

If you want to release your current burden of high interest rate or don’t want to take multiple EMI burden for new loan and also required best rate compare to your older loan than Balance transfer scheme is the right option for you. Some banks are giving best scheme for balance transfer like they are offer 2% lower interest rate than the existing loan and nill processing fees. By this way you can get new loan and keep only one EMI even though you have get new funds.

Special Scheme:

If you are working with some reputed and super cat A company then always ask if there is any special scheme are live or not. Most of the banks are every month announce new scheme for super cat A companies or for reputed big companies or for some Higher designation employee. So when you get right scheme it is better to take immediate apply and choose the right bank.

Difference with Pre Payment Loan and Normal Loans

There are various offers in market who offers normal loans and with facility of pre payment with nil charges. There is always difference in rate of interest offered by normal loan banks and nil for closer pre payment loans. You should have to decide first your purpose of your loan, your repayment capacity, your saving planning, your extra income like incentive and then after you have to decide that are you able to do pre payment before the tenure or not. If first you clear your perfect concept of loan then you can do best deal.

Difference between Flat Rate and Reducing Rate:

Major customer does not understand what is difference between flat interest rate and reducing interest rate? There is only calculation difference between flat interest rate and reducing interest rate. If you go for the flat rate then reducing will be Flat rate * 1.75 Example if your flat rate is 10% yearly then your reducing will come 10% * 1.75 = 17.5% reducing yearly. Both are same but some people misguide customer with flat and reducing interest rate.

There are some different criteria for personal loan. It is different for both profile salaried and businessman. Most of Bank is generally follows below criteria for personal loan.

For Salaried:

• Applicant should be Indian Citizens
• Applicant must be Minimum age required is 21 years and Maximum 55 years.
• Applicant must be working in current companies from last 6 months and 3 years overall but if customer is working with cat A company then stability is not necessary.
• Customer is must having a salary account.
• If customer is highly educated or working with super Cat A companies then some banks will give loan him even if it is his first job or 3rd salary.
• If customer is working with Super Cat A company then Minimum take home salary required – Rs.15, 000/- and above per month. If customer is working with Cat A or any listed company in bank’s approved list then Minimum take home salary required – Rs.20, 000/- and above per month. If customer is working with any small Pvt. Ltd company or with government sector then Minimum take home salary required – Rs.20, 000/- and above per month.
• • Bank will not fund to Class 4 officers and Blue collar profile in government, and only Blue collar profile in other companies.
• Minimum education is required 12th pass.
• Residence-either Owned, rented or company provided. If rented in current city then he requires permanent ownership address proof in any city or village of India.
• Mobile postpaid is mandatory for only some of banks.
• Banks does not give loans to employee of Proprietorship Company, Partnership Company, Small NGO, Small Trusts, and Clubs. Currently most of the banks are providing unsecured loans only to employees of Private Ltd, Limited and Multinational Companies.

For Self Employed:

• Minimum 4 Years old business required
• Minimum turnover is required more than 25 lacks
• 1 year old current account required Average bank balance should be is equal to the EMI Amount for new loan
• Loan amount calculation is as per DSTR calculator
• Loan amount is maximum 2 time of average IT Return of last two years.
• Business registration must required just like Shop Establishment, VAT, CST, GST Turnover and IT Return must be increased rather than last year.
• No EMI Bounce allowed in last 3 Month and 1 allowed in last 6 Month
• Inward cheque return should not be more than 2% of total Transaction.
• Banking should not be deep more than 30% of Total Turnover
• Both rented properties are not valid (Either resident or office must be owned)
• Recent loan in last 6 month are not allowed

SURROGATES

* Car Loan Surrogate

Only Approved Financial companies or Bank are valid for Loan

• If loan is for 36 month than 12 month must be completed or if loan is for 48 or 60 month then 18 Emi must be completed
• Loan multiple is EMI * EMI Completed * 1.5
• Loan amount must be less than actual car loan amount.
• No EMI Bounce allowed in last 3 Month and 1 allowed in last 6 Month
• Maximum loan amount is 7.5 lacks
• 3 Year old business proof must require. Financial are not compulsory for this product.
• EMI More than 3 bounce are not allowed in total tenor completed.
• Both rented properties are not valid (either resident or office must be owned)
• Recent loan in last 6 month are not allowed

* Home Loan Surrogate

• Only Approved Financial companies or Bank are valid for Loan
• 12 Emi must be completed
• Loan multiple is EMI * EMI Completed (maximum 18) * 1
• No EMI Bounce allowed in last 3 Month and 1 allowed in last 6 Month
• Maximum loan amount is 7.5 lacks
• 3 Year old business proof must require. Financial are not compulsory for this product.
• EMI More than 3 bounce are not allowed in total tenor completed.
• Emi cleared by ECS are only valid for this product
• Both rented properties are not valid ( either resident or office must be owned)
• Recent loan in last 6 month are not allowed.

DOCUMENTS FOR PERSONAL LOAN (SALARIED)

1. 3 Month Salary slip Latest
2. 6 Month salary Bank account
3. Company Appointment Letter
4. Last two year form no. 16
5. 3 Years old Job proof (Old appointment letter, Form no. 16, Reliving letter)
6. Pan card copy and Aadhar card copy (Applicant + Co- Applicant)
7. Resident light bill latest
8. Rent Agreement (If Rented)
9. If any loan live then welcome letter of all
10. 1 Passport size photo (Applicant + Co- Applicant)
11. Visiting card
12. Office I-card

પગારદાર વ્યક્તિના પર્સનલ લોન ડોક્યુમેન્ટ્સ લિસ્ટ

1. તાજેતરના 3 મહિનાની પગાર ની સ્લીપ
2. 6 મહિનાનો પગાર બેંક ખાતા નું સ્ટેટમેંટ
3. કંપની નિમણૂક પત્ર
4. છેલ્લા 2 વર્ષના ફોર્મ નં.16
5. 3 વર્ષ જૂનું જોબ પ્રુફ (જુના નિમણૂક પત્ર, ફોર્મ નંબર. 16, રિલીવિંગ લેટર)
6. પાનકાર્ડની નકલ અને આધારકાર્ડની નકલ (અરજદાર + સહ-અરજદાર)
7. ઘરનું તાજેતરનું લાઇટ બિલ અથવા ટેલિફોન બિલ (ભાડે હોય તો ભાડા કરાર)
8. બધી વર્તમાન જીવંત લોનના વેલકમ લેટર અથવા લોન મંજૂર પત્ર
9. 2 ફોટોગ્રાફ પાસપોર્ટ સાઇઝ
10. વિઝિટિંગ કાર્ડ
11. ઓફિસ આઇ-કાર્ડ (જો લાગુ પડતું હોય તો)

Personal loan process is divided in 5 steps. By following all 5 steps you will get best loan as per your requirement. If there is any problem with your loan then your application will stop on related stages and its shows current status. Every stage result you that its stop or in process. Understand clearly all the stages so it is easy to take personal loan.

Stage 1: Enquiry – Take Advise – Compare – Select

When you have choose this platform to compare all banks and financers then always try to attend all calls and talk with all financers. Do not irritate by lots of call but share your choice, your demand, your purpose, loan amount, profile with every bank and financer. Its helps you to take decision about your loan and helps you to choose right option. If you have any negative points then also share it with consultants so they will show you the right way. It is better to choose option who suite to your profile and advised by majority consultants.

Stage 2: Documents Sumiton – Application Form – Apply

Firstly choosing right option prepare all required documents and once verify with your lender and if there is some documents pending arrange it on priority bases. Verify that all documents are enough as per bank policy or not. Sign application form properly.

Stage 3: Application alert – Query – CIBIL

When you submit your application completely to the bank then you will get one SMS with application number from respective bank. You can follow your status by this application number online. Major Banks does not login if there is any query in your application so try to complete your document. After login please ask your lender about CIBIL and query. If there is any problem with your CIBIL your application will reject with this stage. If there is any doubt query in CIBIL your application will hold for query. If there is no query then your application will move for next stage of verification.

Stage 4: Verification – Personal Discussion

After completing 3rd stage your application moves to verification stage. Verification agencies representative will visit your office and resident and collect detail respecting you and submit it to bank. Besides Some bank Credit offices do telephonic personal discussion about your application and some bank credit officers personally visit you for personal discussion. They try to know your profile, your attitude, your loan purpose, your credit history, your financially stability etc. After getting personal discussion if credit manager feel any doubt then he will reject your loan or ask for query. If he satisfied with profile then your application will move to final stage.

Stage 5: Loan approved – Sanction offer – Agreement – Disbursement

After cleared all above four stages your application will moved for approval and meanwhile you will get approval from bank. After getting approval customer has to do agreement with bank and submit security deposit cheque in favor of bank name. Once your agreement completely submitted to bank then within 48 hours you will get RTGS in your account of DD from respected banks.

If you are going for business loan please follow best tips from Zatpat loans advisor.

1. Always get quotation from multiple vendors and multiple banks then analyst it and select what is best
2. Always try to hear all vendors particularly so from that you can something new which you don’t know
3. Don’t hide your negative points from vendors because it helps you provide right option
4. Discuss your all credit history with vendors so it is give you perfect results without rejection
5. Don’t make rude attitude to vendors because it makes your relation temporary and not profitable to you.
6. Always prepare your all documentation and also security cheques before you apply for business loan. It saves your time.
7. Be in touch with your vendors till you get particular status about your loan application
8. Follow Application number on bank’s website. It will keep you in track.