Do you live in Chandigarh? Then you are lucky enough to live in the wealthiest town and the cleanest and planned city in India. The city is home to multiple banks and NBFCs who are ready to provide personal loans ranging from a few thousand to lakhs at different interest rates and tenure. A personal loan is also called as 'multipurpose' loan, and the term says all about it. You can make use of the loan for any of your personal purposes including paying off debts, meeting wedding expenses, funding education fees, paying medical bills, purchasing goods, home renovation, or for travel needs. A personal loan is one of the best choices during the time of emergencies since financial companies provide instant approval for the qualified candidates. Both salaried and non-salaried persons can apply for personal loans in Chandigarh and is an unsecured loan, and there is no need to pledge any form of collateral security to obtain the loan. Key Features of Personal Loan Simple documentation & Quick processing Loan for salaried & self-employed individuals Instant approvals and speedy disbursal Flexible tenure No need for a guarantor or collateral security Special offers for professionals including chartered accountants, doctors, company secretaries, etc. Special offers for existing customers Facility to apply online Disadvantages of personal loan One of the important disadvantages of personal loans is that it carries relatively high-interest rates in the market. The interest rate of a personal loan can go above 32% per annum depending on the credit history of the individual, banking policies of the lender, and other factors. Availability of personal loan in Chandigarh Almost all the banks and NBFCs in Chandigarh provide personal loans for the eligible people to help them meet emergencies. They include Indian Bank, RBL Bank, IndusInd Bank, Bank of India, Canara Bank, J&K Bank, SBI, Citibank, Oriental Bank of Commerce, Central Bank of India, ICICI Bank, Union Bank of India, IDBI Bank, HDFC Bank, Standard Chartered Bank, Punjab National Bank, Shriram Finance, Bajaj Finance, Sundaram Finance, etc. Eligibility for Personal Loan Age should be between 21 years to 65 years Business professionals, salaried, and self-employed are eligible to apply. Nonregular wage earners can talk to the bank manager. Minimum salary of salaried people of generally Rs. 15,000 (Salary requirement can differ based on certain factors) Should be a resident in the same address or city for at least 1 year. Minimum of two years of work experience. Stable employment history Good credit history. (700 or above in a good credit score).

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