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Saraswat Insta Personal Loan

At the lowest interest rates, avail a loan up to maximum Rs.5 Lakh without any difficulty, in a short period of time with minimum documents for your personal use.

Limits of Loans:

  1. Maximum loan up to Rs.5.00 lakh

Income Eligibility:

  1. Salaried : Minimum average monthly take home salary after deducting all EMIs should be 
Loan Amount Metro/Urban Cities Semi-Urban/Rural Cities
Upto Rs.2.00 lakh Rs.20,000/- p.m. Rs.15,000/- p.m.
Upto Rs.5.00 lakh Rs.25,000/- p.m. Rs.20,000/- p.m.

  1. Businessmen:  Having an experience of at least 1 year of business and I.T Returns for last one year reflecting Gross cash accruals of Rs. 1.50 lakh p.a


CIBIL rating should be 750 & above + (personal loan cibil score to be considered )

Basis of Advance:

  1. Salaried: 20 times of average monthly net salary for last 3 months
  2. Businessmen :3 times of average of last three years Gross cash accruals
  3. Existing Borrower with good track record for 1 year - latest audited gross cash accrual

               or

  1. Maximum Rs. 5.00 lakh whichever is lower.

Repayment Period:

  1.  Maximum 60 months

Rate of Interest (Fixed): W.E.F 20.06.2025

  1. Starting from 12 %* to 14 %* p.a

Reset of Floating Interest Rate on Equated Monthly Instalment [EMI] based Loan:

  1. Option to Switch ROI Type:
Borrowers shall have the option to switch their loan from Floating Rate of Interest (ROI) to Fixed ROI and vice versa, subject to a maximum of two (2) switches in a financial year during the entire tenure of the loan.

  1. Applicable Charges:

A request charge of 0.50% shall be levied on the outstanding loan balance at the time of the switch, irrespective of whether the switch is from fixed to floating or floating to fixed ROI.

Penal Charges:

  1. Penal charges in the range of 1% to 2% p.a. each, subject to maximum of 2% p.a. for non-compliance of terms and conditions of loan contract, till such time the same is complied with.

Security:

  1. Compulsory ECS/S.I. from Salary account/Business A/c​
  2. Hypothecation of Household Articles, consumer durables/ articles purchased

Processing Fees: w.e.f  19.12.2022

  1. Rs. 2500/- irrespective of the loan amount
(No other charges such as CIBIL/ other credit agency, FI & CERSAI.)

Shareholding:

  1. Rs. 500/-

Documents Required:

  1. Prescribed loan application form
  2. Latest Photograph, Photo ID Proof and Residence Proof of the Applicant
  3. Salary slips for last 3 months and Bank statement for last 3 months or Form No.16 of the Applicant of last one year
  4. For Businessman ITR copies of last three years, 3 month Bank statement


Other conditions:

Insurance covering Partial permanent disability or death liability to be obtained


[Conditions Apply*
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