Tuesday, July 31, 2012

Introduction to Canara & Corporation Banks Personal Loans

Canara Bank offers quantum of loan according to its subjective terms. For instance, the quantum of finance to be sustained to salaried individuals is Rs 1 lakhs or 6 months’ gross salary whichever is less. Non-salaried individuals can avail 50% personal loan against gross annual income. On the basis of credit worthiness and income of applicants, the bank offers higher quantum of finance accordingly.

Applicants who deserve for Canara Bank Personal Loan should have income sufficiency. Whether you are salaried or self-employed applicants make sure the income you are having currently serves one of the eligibility requirements of the bank. Co-obligation may be required depending on the bank’s terms and conditions.

As per the processing charges applicable, applicants may be charged from Rs 100 to Rs 500. Documentable credentials pertaining to acquire the finance from Canara Bank are mandatory to submit. Depending on the type of applicants (salaried or self-employed), the required documents may vary accordingly. Better have a look on the website of the bank in this respect. The procedural aspects for the documentation vary according to type of applicants (salaried or non-salaried).

Canara Bank Personal Loan can serve your genuine needs well. The bank offers large chunk of finance for your needs.

Corporation Bank is one of the leading finance institutes and has been operating its banking service in India for years. Corporation Bank Personal Loan comes with so many standout features mostly the quantum of finance to sort out expenses related to family holiday, wedding expenses, medical expenses and a lot more expenses you meet in your life.

Depending on the requirement and kind of income status quo, the quantum of loan is made available accordingly. Generally, the bank extends financial assistance of Rs 2 lakhs for the repayment duration of 60 months (max) to salaried and self-employed and other deserving applicants.

Processing fees of 1.5% is applicable but no charge is applicable on prepayment. Salaried individuals are given repayment duration of 3 years and 5 years (max) for others. Corporation Bank offers reliable money solutions against your personal expenses. The loan is designed to solve your monetary requirements.

When it comes to getting your needs financed, availing personal finance is one of the trusted ways. Since the loan is non-secured finance, not much documents are required. Even the banks don’t ask anything about the prospective use of the finance. Credit history is not considered at all. These things conclusively make the finance least time consuming to obtain.

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