Are you looking for small finance bank for personal needs? Then ESAF Small Finance Bank Personal Loan is for you. When you have some important expenses like foreign holiday travel, house shifting, family wedding, credit card bill payment, existing loan payment, medical emergency and many more but do not have enough money for that, personal loan is the way to go. Helps you pay expenses easily.
ESAF Small Finance Bank Personal Loan
ESAF Personal Loan interest rates range from 14.41% to 23.31% p.a. Loans up to Rs.5 lakh with a repayment tenure of up to 35 months. The bank claims to take a loan credit decision in 2 days after the borrower submits all the personal loan documents. The Bank also provides Salary Overdraft facility to the Salary Account holders of ESAF Bank.
ESAF Personal Loan Information
|interest rate||14.41% to 23.31% p.a.|
|Repayment tenure||Personal Loan: 12 to 35 months
Salary Overdraft: To be renewed every 12 months
|loan amount||Personal Loan: Rs 50,000 to Rs 5 lakh
Salary Overdraft: Rs 25,000 to Rs 3 lakh
|Processing fee||1% of the loan amount|
How much interest will ESAF charge on Personal Loan?
ESAF Personal Loan Interest Rate ranges from 14.41% to 23.31% p.a. The personal loan interest rates offered to the loan applicant will vary according to the applicant’s credit score, monthly income, job profile, employer’s profile, etc.
Types of ESAF Personal Loan
- Personal Loan: Borrowers can use the loan to meet their various financial needs related to wedding, medical emergencies, home renovation, higher education etc.
- Salary Overdraft: This is an overdraft facility on salary for existing customers who have a salary account with ESAF Bank. Customers can avail overdraft up to 3 times of their monthly salary.
Who can take ESAF Small Finance Bank Personal Loan?
Personal Loan for: Employees working in Nifty Top 100 Companies, Navratnas, Government, PSU, Private and Nationalized Banks, State/District Level Cooperative Societies, Public Limited Companies, Hospitals, Educational Institutions
Regular Pensioners (minimum monthly pension amount should be Rs 20,000)
For Salary Overdraft:
Employees with 1 year of age in their current organization
Salary Savings Account with ESAF Bank
|age||21 – 60 years||21 – 65 years|
|Minimum Income||Rs.15,000*||Rs.5 Lakh p.a.|
|Co-applicant||Not mandatory||Not mandatory|
|Loan Tenure||12 – 60 months||12 – 60 months|
|Maximum Loan Amount||Rs.40 Lakh||Rs.40 Lakh|
|Employment Type||Employees of private limited companies and public sector undertakings||Self-employed individuals|
|Employment/Business Continuity||At least 2 years; minimum 1 year with current employer||4 years Post Qualification experience for Doctors/ Chartered Accountants.
5 years Post Qualification experience for Company Secretary / Architect.
|CIBIL Score||750 and above||750 and above|
ESAF Small Finance Bank Personal Loan documents for
List of documents required for salaried applicants
Salaried individuals need to submit the following documents apart from a completed personal loan application form:
|Photo Identity Proof (Any one)||Passport
|Address Proof (Any one)||Passport
Utility Bill (telephone, electricity, water, gas) – less than 2 months old
|Income Proof||Salary slips (Last 3 months)
Bank statements for the last 3 to 6 months (showing salary credit)
|Tax Paid (Any one||IT returns (for 2 years)
|Residence Ownership Proof (Any one)||Property documents
|Proof of Job Continuity (Any one)||Current employment certificate
Current job appointment letter (if more than 2 years have been spent in the same organization)
Experience certificate (previous employer’s relieving or appointment letter along with job certificate)
|Proof of Investment (if any)||Fixed assets, fixed deposits, shares, etc.|
|Existing Loans (if any)||Payment Track Record & Sanction letter|
|photograph||One colored passport size photograph|
List of Documents Required for Pensioners
When applying for a personal loan, a pensioner must submit the following documents:
|Identity/Age Proof (Any one)||Ration card
Voter ID card
School leaving certificate
|Address Proof (Any one)||Passport
|Income Proof (Any one)||Last 6 months’ bank statements/salary slips
Copy of pension payment order
income tax returns
|Photographs||Passport size photographs|
ESAF Small Finance Bank Personal Loan Approval Process
What is the approval process for getting a Personal Loan in ESAF Small Finance Bank?
Step 1: Determine Your Requirement
Determine why you need a personal loan and how much money you will need.
Step 2: Check Loan Eligibility
Make sure that you meet all the criteria of the ESAF Small Finance Bank personal loan approval process that we have listed above once you have established how much money you need.
Step 3: Calculate Monthly Installments
Use an online EMI calculator to find out how much you will need to pay on your loan every month. This EMI calculator is highly recommended as it can quickly provide you with information such as the total interest payable on your personal loan.
Step 4: Contact the Bank
You can apply for a personal loan from ESAF Small Finance Bank through various methods, including net banking, the bank’s website, an ATM, or calling a branch.
Step 5: Submit the Documents
Submit the above mentioned documents, then wait for the funds to be credited to your account. Customers get quick access to funds from ESAF Small Finance Bank for pre-approved loans.
*Personal loan disbursement is at the sole discretion of the bank and subject to the terms and conditions of the bank.
How to apply for ESAF Small Finance Bank Personal Loan?
You can apply for a personal loan with ESAF Small Finance Bank online or in person at a branch. We will walk you through both the online and offline process. If you wish to apply, you must first complete the steps listed below:-
For more details, visit ESAF Small Finance Bank’s website or call the nearest location of the bank.
Fill in the personal, professional and financial information requested by the bank and submit the form.
When you fill the online form, the bank will verify your eligibility and tell you the amount you are eligible for.
Once you have agreed to complete the application, you will need to submit the appropriate documents, which can be done online.
Finally, the ESAF Small Finance Bank loan approval process will verify your documents, and if the loan is approved, funds will be transferred instantly into your ESAF Small Finance Bank account.
If you want to visit the branch directly, you need to complete the steps given below:-
At the appropriate bank branch, fill the application form with required personal information, professional information and contact information. This criteria will be given priority in ESAF Small Finance Bank Personal Loan approval process.
Their representative will explain the loan eligibility, as well as loan rates, terms, processing fees, prepayment and foreclosure provisions during the ESAF Small Finance Bank Personal Loan approval process.
After submitting the application form and supporting papers, you will be provided with an application reference number. You can use this number to track the status of your ESAF Small Finance Bank Personal Loan application.
The loan can be disbursed as soon as the loan is approved and the agreement is signed after successful verification.
ESAF Small Finance Bank Personal Loan Customer Care
Our customer care executives are here to help you with your banking related queries. To learn more about us, please feel free to contact us at any time using any of the following methods.
- Contact centre1-800-103-3723 which is (1-800-103 – ESAF) – Toll free 080-45520100
- Email: Email at email@example.com