Lakshmi Vilas Bank Personal Loan

Lakshmi Vilas Bank Personal Loan helps customers meet their various monetary requirements like medical emergency, debt consolidation, etc. Furthermore, The Bank is committed to easy documentation as well as fast allotment helping customers to avail a lot of services making their life easier by being better at finance management. Also, anyone looking for quick and straightforward disposal of Personal Loan may apply with Lakshmi Vilas Bank by checking in all the documentation and suitable requirements.

Why opt for Lakshmi Vilas Bank Personal Loan?

Uniquely, Lakshmi Vilas Bank grants you Personal Loan starting at Rs.50000 – 500000 depending on the client’s financial power, credit score, and professional background.

Furthermore, customers can benefit Personal Loan without much tension, and they can have their request permitted inside four working hours.

Lakshmi Vilas Bank requires very less documentation for the approval of the Loan, and the loan process is very speedy.

Also, no Guarantor or Cosigner is required to avail the Loan.

Eligibility

Salaried

Profession: The person should be working in a government, private or MNC Company.

Eligible Age: The Minimum age to apply for a Personal Loan is 18-55 years.

Self-Employed

Eligible Age: The Minimum age to apply for a Personal Loan is 18-55 years.

Profession: The Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.

Lakshmi Vilas Bank Personal Loan Interest rate

Interest rates start from 10.99% and vary according to the following reasons;

Profile of Customers

Tenure of the Loan

Documents Required

Salaried

Firstly, identity Proof: Adhar Card, Passport, Voter ID card or Driving License

In addition to, address proof: Ration card, Passport, rent agreement, electricity/water bill.

PAN card

Self-Employed

Firstly, identity Proof: Adhar Card, Passport, Voter ID card or Driving License

In addition to, address proof: Ration card, Passport, rent agreement, electricity/water bill.

Equally, important is the last six months of Bank statements.

Likewise, Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.

Tenure

As a matter of fact, Tenure is the period for which you get the Loan; here, it is for one to three years.

About Lakshmi Vilas Bank

Lakshmi Vilas was founded in 1926 by a group of seven businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. . Subsequent to introduction of the Banking Regulations Act, 1949 and Reserve Bank of India as the regulator for the banking sector, the bank obtained its banking license from RBI on 19 June 1958, and on 11 August 1958 it became a ‘scheduled commercial bank’ signifying capability to operate as a full-fledged commercial bank.Their objective was to cater to the financial needs of people in and around Karur who were occupied in trading businesses, industry and agriculture.

FAQs (Frequently Asked Questions)

Q1. Why should I take a personal loan from Lakshmi Vilas Bank?

Ans. Lakshmi Vilas Bank allows you to know offer about consumer loans under its bouquet of personal loans.

Q 2. What is interest charged?

Ans. 10.99% is the minimum interest rate charged by the Bank.

Q 4. What is Tenure?

Ans: The Tenure of Personal Loan is 12-60 months.

Q 5. What amount Personal loan amount I can borrow?

Ans: Comparatively, The applicant can get a loan amount of Rs. 50000 to 500000 at maximum for three years.

Q 6. How much does the Lakshmi Vilas Bank Personal Loan charge a processing fee?

Ans: The processing fee charged is 1% for GST.

Q 7. Is age an eligibility criterion in getting a Personal loan?

Ans: Yes, age is a factor to apply for a Personal loan. The minimum age of the applicant should be 18-55 years.

Q 8. Do prepayment charges apply?

Ans: The pre-closure charges are 0.