INTERNSHIP REPORT

On

LOAN DEPARTMENT(DSA) FILED IN PERSONAL LOAN

Submitted by

NEHA SHARMA

(241104231024)

DEPARTMENT OF COMMERCE

GOVERNMENT COLLAGE KHARKHARA

INDIRA GANDHI UNIVERSITY, MEERPUR

(REWARI)

SESSION 2024-25
 ACKNOWLEDGEMENT

I would like to extend my heartfelt gratitude to the following individuals and

organizations for their support and guidance during my internship. I would
like to express my gratitude to Mrs. Rekha sharma for providing me with the
opportunity to undertake this internship. I would like to say a special thanks
to loan department (DSA) experience and my Internship Mentor Mr. Vinay
sharma for their expert guidance and training which helped me develop new
skills and knowledge.

Thank you all for your contributions to my growth and development.

 TABLE OF CONTENT

Chapters Contents Page No.

Internship completion certificate

Consent of internship mentor

Certificate

Acknowledgement

Chapter 1 Loan Department (DSA) profile 2-13

 Loan department (DSA) overview
 Location
 PCU Banks
 Private Bank and NBFC’S
 Overview of The Services Offered by The Loan
Department (GB Finance)

Chapter 2 Introduction of loan 14-20

Chapter 3 Types of loan 21-36

Chapter 4 Important Points For Taking For a loan 37-38

Chapter 5 Important Documents For Personal loan , Business loan, 38-39

Home loan

Chapter 6 All Private Bank and NBFC’S Policy 39-49

Chapter 7 Conclusion
49-50

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2
DSA full form is Direct Selling Agent. DSA's job is to find potential customers for the
bank or the NBFC they represent. DSAs are looking for people interested in taking a
loan and will guide them through the process of it. A DSA loan agent plays a crucial
role in connecting lenders with borrowers.
These agents work closely with banks, NBFCs, and financial institutions to help them
acquire customers for various loan products, such as personal loans, home loans,
business loans, and credit cards. You don't need a degree in banking or finance to
work in this field. Anyone, salaried or not, can apply to work as a DSA loan
representative. You must be well-versed in the subject. You must be at least 18 years
old. .

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 LOCATION

Shop no. 06 1st floor dal chand market sohna road bhiwadi alwar rajasthan
(301019)

4
Public Sector Undertakings (Banks) are a major type of government-owned banks in
India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance
(India) of the Government of India or State Ministry of Finance of various State
Governments of India.
As of 2025,
The government bank list in India includes 12 PSU banks:
SBI, PNB, BOB, Union Bank, Canara Bank, Indian Bank, Bank of India, UCO Bank, Bank
of Maharashtra, Indian Overseas Bank, Central Bank of India, and Punjab & Sind Bank.

5
As of 1st August 2025, India's commercial banking sector consists of 12 Public Sector
Banks (PSBs), 21 Private Sector Banks (PVBs), 28 Regional Rural Banks (RRBs), 44
Foreign Banks (FBs), 11 Small Finance Banks (SFBs), 5 Payments Banks (PBs), 2 Local
Area Banks (LABs), and 4 Financial Institutions.

Overview of Top 10 Private Banks in India

HDFC Bank.
Bandhan Bank.
ICICI Bank.
Axis Bank.
IndusInd Bank.
IDBI Bank.
Kotak Mahindra Bank.
Federal Bank.

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nk Bank Name Number of Branches Number of ATMs

1 HDFC Bank 8,851 21,163

2 Bandhan Bank 6,297 480+

3 ICICI Bank 6,524 17,190

4 Axis Bank 5,377 16,026

5 IndusInd Bank 2,728 2,939

6 IDBI Bank 2,000+ 3,300+

7 Kotak Mahindra Bank 1,869 3,239

8 Federal Bank 1,272 1,957

9 YES Bank 1,198 1,287+

10 South Indian Bank 948 1,322

11 Karnataka Bank 915 1,188

12 Karur Vysya Bank 831 1,650

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13 IDFC FIRST Bank 809 925

14 CSB Bank 795 764

15 City Union Bank 799 1,762

16 RBL Bank 545 398

17 DCB Bank 445 112

18 Tamilnad Mercantile Bank 386 956

19 Jammu & Kashmir Bank 996 1,414

20 Dhanlaxmi Bank 261 282

21 Nainital Bank 170 Not Listed

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A Non-Banking Financial Company (NBFC) is a company registered under the
Companies Act, 1956 or Companies Act, 2013, and engaged in the business of loans
and advances, acquisition of shares/stocks/bonds/debentures/securities issued by
Government or local authority or other marketable securities of a like nature, ...

Each has its benefits .

NBFCs are great for fast processing and flexibility, which helps if your credit score
isn't perfect. Banks might take longer but usually offer lower interest rates and are

9
seen as very safe. This blog will explore the main differences between NBFCs and
banks.

 HDB Financial Services

 Mahindra Finance

 Muthoot Fincorp

 Muthoot Finance

 Manappuram Finance Limited

 Hero FinCorp

 Home Credit

 L&T Finance

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  Piramal Finance

 Bajaj Finance


 Mahindra Rural Housing Finance Limited

 Poonawalla Fincorp

 Shriram Finance


 Aditya Birla Finance Limited

 Cholamandalam Invest


 Hinduja Housing Finance


 Fedbank Financial Services Ltd


 PNB Housing


 Indiabulls

 LIC Housing Finance
 Tata Capital
 Shri ram Finance logo
 IIFL Finance
 SMFG India Credit
Is kissht RBI approved?

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Yes, Kissht is an RBI (Reserve Bank of India) approved Non-Banking Financial Company
(NBFC). It operates under OnEMI Technology Solutions Private Limited, which is a
registered NBFC with the RBI. This registration means Kissht complies with regulatory
guidelines and provides legitimate lending services.

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Loan servicing includes sending monthly payment statements, collecting monthly
payments, maintaining records of payments and balances, collecting and paying taxes
and insurance (and managing escrow funds), remitting funds to the note holder, and
following up on any delinquencies.

 Different Types of Loans Available in India

 Secured loans. ...
 Home loan. ...
 Loan against property (LAP) ...
 Loans against insurance policies. ...
 Gold loans. ...
 Loans against mutual funds and shares. ...
 Loans against fixed deposits. ...
 Vehicle loans.

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14
What Is a Loan?

A loan is a form of credit where a specific amount of money is given to someone with
the agreement that it will be paid back later. In many cases, the lender also adds
interest or finance charges to the principal value, which the borrower must repay in
addition to the principal balance.
Loans may be for a specific, one-time amount, or they may be available as an open-
ended line of credit up to a specified limit. Loans come in many different forms,
including secured, unsecured, commercial, and personal loans.

 Key Takeaways :-

 A loan is when money is given to another party in exchange for repayment of

the loan principal amount plus interest.
 Lenders will consider a prospective borrower's income, credit score, and debt
levels before deciding to offer them a loan.
 A loan may be secured by collateral, such as a mortgage, or it may be
unsecured, such as a credit card.
 Revolving loans or lines can be spent, repaid, and spent again, while term loans
are fixed-rate, fixed-payment loans.
 Lenders may charge higher interest rates to risky borrowers.

Understanding Loans :-

A loan is a form of debt incurred by an individual or other entity. The lender—usually

a corporation, financial institution, or government—advances a sum of money to the

15
borrower. In return, the borrower agrees to a certain set of terms, including
any finance charges, interest, repayment date, and other conditions.
In some cases, the lender may require collateral to secure the loan and ensure
repayment. Loans may also take the form of bonds and certificates of deposit (CDs). It
is also possible to take a loan from a 401(k) account.

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The Loan Process :-

Here's how the loan process works: When someone needs money, they apply for a
loan from a bank, corporation, government, or other entity. The borrower may be
required to provide specific details such as the reason for the loan, their financial
history, Social Security number (SSN), and other information. The lender reviews this
information as well as a person's debt-to-income (DTI) ratio, to determine if the loan
can be paid back.1
Wells Fargo Bank. "How To Get A Loan From A Bank."
Based on the applicant's creditworthiness, the lender either denies or approves the
application. The lender must provide a reason should the loan application be denied.
If the application is approved, both parties sign a contract that outlines the details of
the agreement. The lender advances the proceeds of the loan, after which the
borrower must repay the amount, including any additional charges, such as interest.
The terms of a loan are agreed to by each party before any money or property
changes hands or is disbursed. If the lender requires collateral, the lender outlines
this in the loan documents. Most loans also have provisions regarding the maximum
amount of interest, in addition to other covenants, such as the length of time before
repayment is required.

Understanding the Different Stages of Loan Processing

 Stage 1: Application Submission.
 Stage 2: Documentation Verification.
 Stage 3: Credit Evaluation.
 Stage 4: Loan Underwriting.
 Stage 5: Loan Approval and Disbursement.
 Stage 6: Loan Servicing.

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Components of a Loan
There are several important terms that determine the size of a loan and how quickly
the borrower can pay it back:
 Principal: This is the original amount of money that is being borrowed.
 Loan term: The amount of time that the borrower has to repay the loan.
 Interest rate: The rate at which the amount of money owed increases, usually
expressed in terms of an annual percentage rate (APR).
 Loan payments: The amount of money that must be paid every month or week
in order to satisfy the terms of the loan. Based on the principal, loan term, and
interest rate, this can be determined from an amortization table.
In addition, the lender may also tack on additional fees, such as an origination fee,
a servicing fee, or late payment fees. For larger loans, they may also require
collateral, such as real estate or a vehicle. If the borrower defaults on the loan, these
assets may be seized to pay off the remaining debt.

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Tips on Getting a Loan
In order to qualify for a loan, prospective borrowers need to show that they have the
ability and financial discipline to repay the lender. There are several factors that
lenders consider when deciding if a particular borrower is worth the risk:

 Income: For larger loans, lenders may require a certain income threshold,
thereby ensuring that the borrower will have no trouble making payments.
They may also require several years of stable employment, especially in the
case of home mortgages.
 Credit score: A credit score is a numerical representation of a person's
creditworthiness, based on their history of borrowing and repayment. Missed
payments and bankruptcies can cause serious damage to a person's credit
score.3
 Debt-to-income ratio: In addition to one's income, lenders also check the
borrower's credit history to determine how many active loans they have at the
same time. A high level of debt indicates that the borrower may have difficulty
repaying their debts.

In order to increase the chance of qualifying for a loan, it is important to demonstrate

that you can use debt responsibly. Pay off your loans and credit cards promptly and
avoid taking on any unnecessary debt. This will also qualify you for lower interest
rates.

It is still possible to qualify for loans if you have a lot of debt or a poor credit score,
but these will likely come with a higher interest rate. Since these loans are much
more expensive in the long run, you are much better off trying to improve your credit
scores and debt-to-income ratio.

Relationship Between Interest Rates and Loans

Interest rates have a significant effect on loans and the ultimate cost to the borrower.
Loans with higher interest rates have higher monthly payments—or take longer to
pay off—than loans with lower interest rates. For example, if a person borrows
$5,000 on a five-year installment or term loan with a 4.5% interest rate, they face a
monthly payment of $93.22 for the following five years. In contrast, if the interest
rate is 9%, the payments climb to $103.79.

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Simple vs. Compound Interest

The interest rate on loans can be set at simple or compound interest. Simple
interest is interest on the principal loan. Banks almost never charge borrowers simple
interest. For example, let's say an individual takes out a $300,000 mortgage from the
bank, and the loan agreement stipulates that the interest rate on the loan is 15%
annually. As a result, the borrower will have to pay the bank a total of $345,000 or
$300,000 x 1.15.

Compound interest is interest on interest, and that means more money in interest
has to be paid by the borrower. The interest is not only applied to the principal but
also to the accumulated interest of previous periods. The bank assumes that at the
end of the first year, the borrower owes it the principal plus interest for that year. At
the end of the second year, the borrower owes the bank the principal and the interest
for the first year, plus the interest on interest for the first year.

With compounding, the interest owed is higher than that of the simple interest
method because interest is charged monthly on the principal loan amount,
including accrued interest from the previous months. For shorter time frames, the
calculation of interest is similar for both methods. As the lending time increases, the
disparity between the two types of interest calculations grows.

If you're looking to take out a loan to pay for personal expenses, then a personal loan
calculator can help you find the interest rate that best suits your needs.

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21
Loans come in many different forms. There are a number of factors that can
differentiate the costs associated with them, along with their contractual terms.

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23
Secured loans are protected by an asset. The item purchased, such as a home or a car,
can be used as a collateral. The lender will hold the original Sales Deed or title
documents until the loan is paid in full, in case of a Home Loan. Other items can also
be used as a collateral, such as stocks, bonds, etc.

Unsecured Loan
Unsecured loans are loans that don't require collateral. They're also referred to as
signature loans because a signature is all that's needed if you meet the lender's
borrowing requirements

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Loans can be secured or unsecured. Mortgages and car loans are secured loans, as
they are both backed or secured by collateral. In these cases, the collateral is
the asset for which the loan is taken out, so the collateral for a mortgage is the home,
while the vehicle secures a car loan. Borrowers may be required to put up other
forms of collateral for other types of secured loans if required.

Credit cards and signature loans are unsecured loans. This means they are not backed
by any collateral. Unsecured loans usually have higher interest rates than secured
loans because the risk of default is higher than secured loans. That's because the
lender of a secured loan can repossess the collateral if the borrower defaults. Rates
tend to vary wildly on unsecured loans depending on multiple factors, such as the
borrower's credit history.

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Debt consolidation is a debt management strategy that combines your outstanding
debt into a new loan with just one monthly payment. You can consolidate multiple
credit cards or a mix of credit cards and other loans such as a student loan or a
mortgage.

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SECURED LOAN

A home loan is an amount an individual borrows from a financial institution such as

a housing finance company to buy a new or a resale home, construct a home or
renovate or extend an existing one. The money is borrowed at a specific interest rate

27
and repaid within a particular duration in smaller instalments known as EMIs
(Equated monthly instalments).

What are the types of Housing Loans available in India?

In India, financial institutions offer different types of home loans to suit the specific
needs of customers.

This is the most common type of home loan. As the name suggests, these loans are
meant for buying a new apartment, row house, or bungalow, from a developer or a
development authority. You can use this type of loan to purchase under-construction
or ready properties.

 Home Construction Loan

You can avail a home construction loan if you already own a plot and require funds
for the construction of the house on that land.

 House Renovation Loan

If you already own a house and want to renovate it, you can apply for a house
renovation loan. You can use a house renovation loan for painting, tiling, roof repairs,
etc.

 Home Extension Loan

As your family grows, you may need a bigger house to accommodate all the members
comfortably. A home extension loan could be helpful in such a situation. You can get
this type of loan to fund the cost of adding a new room/floor to your home, extending
the kitchen, building a new bathroom, etc.

 Plot Loan
If you wish to buy a plot with the intention of constructing your own home in the
future, you can avail a plot loan.

 Balance Transfer Loan

Housing Finance Companies (HFCs) offer this unique service that allows you to
transfer your existing home loan from one lender to another. A Balance Transfer is
usually done to get loans at a lower interest rate, flexible repayment terms and some
other benefits.

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Eligibility Criteria for Home Loans
 Current age & loan repayment tenure
Your age plays a vital role in determining home loan eligibility. The younger you are,
the better your chances of getting home loan approval. Also, when you are young,
you can get a loan for a longer duration.

 Financial profile of the customer

Income stability and quantum of income significantly impact the amount you can
borrow. Whether you are a salaried employee or self-employed, you must have a
steady income.

 Credit score
A high credit score and clean repayment records will enhance your chances of getting
a faster loan approval.

 Other financial obligations

Lenders evaluate the existing liabilities such as personal loans, credit card bills, car
loans, etc., to ensure that you have the financial capacity to repay the home loan. If
you have no liabilities, you may get your loan approved without any hassles.

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30
A business loan allows businesses to borrow money from banks or financial
institutions with the agreement to repay it over time, typically with interest.
Businesses can use these loans for various purposes like expanding operations,
purchasing assets, or improving cash flow. The interest rate varies depending on the
loan type, the bank, and the borrower’s credit profile.

Before you decide to apply for a business loan it’s essential to understand the
different options available and their advantages.

Types of business loans

 Term loans
A term loan gives businesses a lump sum of money that they repay in fixed
instalments over a predefined period. This loan type is ideal for long-term
investments like equipment or property purchases. The interest rate on term loans is
generally fixed, but businesses should always check the specific business loan interest
rate offered by the lender.

 Working capital loans

A working capital loan helps businesses manage daily operational expenses such as
payroll or inventory. These loans are particularly beneficial during periods of low cash
flow. Since these are short-term loans, they often come with competitive business
loan interest rates, but it’s crucial to compare offers from different lenders before
deciding.

 Equipment financing
For businesses that need new equipment, equipment financing is the option. The
purchased equipment often serves as a collateral for the loan, making it easier to
secure money even with limited credit history. This option is particularly useful for
industries where the latest technology is crucial for growth.

 Business line of credit

A business line of credit allows companies to withdraw funds up to a set limit as
needed, rather than receiving a lump sum amount. Interest is only charged on the

31
amount used, making it a flexible option for businesses managing unpredictable
expenses. When you apply for a business loan like this, the interest rates can vary, but
they often remain competitive for short-term needs.

Benefits of business loans

 Access to capital:Business loans provide immediate access to the funds needed
for growth, whether it’s to finance expansion, buy new equipment, or cover
operational costs.
 Customisable loan options: With various types of loans available, businesses
can choose the loan type that best suits their current needs.
 Tax benefits: Interest paid on a business loan is tax-deductible, which can
significantly lower the overall cost of borrowing.
 Retain ownership: Unlike investors, lenders don’t ask for a share in your
business, allowing you to maintain control while accessing necessary funds.

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How to get a business loan from a bank
 Assess your needs: Start by identifying why you need the loan and the amount you
need. It will help you determine the type of loan you should apply for.
 Review your creditworthiness: Banks review both your business and personal
credit scores to assess your ability to repay the loan. A high credit score increases
your chances of approval and may help secure a lower business loan interest rate.
 Prepare documentation: Lenders will request several documents during the
process, including your business plan, financial statements, tax returns, and proof
of business ownership.
 Compare loan options: Research various banks to compare loan offering based on
loan amount, repayment terms, and business loan interest rate
 Submit your application: Submit your application after necessary documentation.

8 Different Types of Business Loan in India

 Working Capital Loan.

 Term Loan.
 Letter of Credit.
 Bill Discounting.
 Overdraft Facility.
 Machinery Loan.
 Government Loans.
 Point-of-Sale (POS) Loans or Merchant Cash Advance.

33
34
An Unsecured Loan is a loan that does not require you to provide any collateral to
avail them. It is issued to you by the lender on your creditworthiness as a borrower.
And hence, having an excellent credit score is a prerequisite for the approval of an
Unsecured Loan.

Collateral/s act as a form of security for the lender, and hence, it plays a crucial part in
the loan approval process.

Generally, this loan is offered at a higher interest rate in comparison to secured

loans.

What are the types of Unsecured Loans?

Revolving Loan

A Revolving Loan is a type of credit that works on the cycle of spending, repaying, and
spending again. A maximum credit limit is set by the bank beforehand. You can
choose to utilise the credit limit entirely or in parts as per your requirement. Once
you have repaid your credit dues, the credit limit restores. This means that you can
use the credit limit provided multiple times.

Term Loan

Opting for a Term Loan is a great way to make funds available when you need a lump
sum amount of money. This loan is generally offered at a fixed interest rate. You can
repay the loan in equal instalments at regular intervals for a fixed period. The loan
comes in handy to make purchases of fixed assets that require a large sum of money.

Consolidate Loan

During financial hardships, your debts may get accumulated excessively. This can put
you in a fix for keeping up with the payments, especially with the rising interest. This
is when having a consolidate loan can be of utmost help. With this loan, you can clear
your accumulated debt and relieve your repayment cycle considerably.

35
What are the benefits of Unsecured Loans?

 Quick application process - The application process of Unsecured Personal

Loans does not require excessive paperwork. You need to have proper financial
documents and a good credit score while applying for this loan.
 Collateral free – Unsecured Loan do not require any collateral while applying
for it.
 Option to disburse smaller loan amounts – HDFC Bank offers Unsecured Loans
for smaller amounts. Furthermore, the bank also makes repayment easier for
you by providing a flexible Equated Monthly Instalments (EMIs) option.

Hope this article has helped you to have a better understanding of Unsecured Loan
and the entailed benefits. Maintaining a good credit score is the key to applying for
this loan.
One of the most popular unsecured loans in the industry, is the Personal Loan. You
can visit the nearest HDFC Bank branch or contact your relationship manager to get
more details about this loan. Start your financial journey with HDFC Bank today.

TYPE OF UNSECURED LOAN ?

Unsecured loans are not backed by any security and include loans like Credit Cards,
Student Loans or Personal Loans. Lenders take more risk in this type of funding
because there is no asset to recover, in case of a default.

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Age – mini 21 – max 60
Salary – mini 15k
Interest Rate – min 10.99% to max 30%
FOIR – mini 65% to max 75%
Negative profile – Advocate ,police ,DSA , Gold smith etc.
Company category List – NBFS in not mandatory
Cibil score – 700+
Location – 50km

37
 PEN CARD

 ADHAR CRAD

 CURRENT 6MIONTH BANK STATEMENT

 CURRENT 3 MONTH SALARY SLIP

 CURRENT LOCAL ADDRESS PROOF

 PHOTO

 EMIAL ID

 OTHER DETAILS

 PEN CARD

 ADHAR CARD

 CURRENT ACCOUNT 1 YEAR BANK STATEMENT

 3 YEAR ITR

 GST

 LOCAL ADDRESS PROOF

 UDYAM REGISTRATION

 PHOTO

 OTHER DETAILS

38
39
 Tata Capital
Smart ABB Loan

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📌 Loan Confirmation in Just 15 Minutes
📌 ABB-Based Loan Eligibility
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📌 Minimum Salary Required: ₹20,000
📌 3 Months Banking History Required
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📌 Turn Your Bank Balance into Instant Loan Power!

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 POONAWALLA 24*7

Key Features:

- Available 24*7, day or night, weekday or weekend

- ⁠Higher loan Amount
- ⁠Longer loan tenure
- ⁠Lower EMI
- ⁠No document required
- ⁠Straight Disbursal
- ⁠Pre/part payment allowed
- ⁠No hidden costs

Personal Loan Details:

- ⁠Loan Amount: 1 lakh to 15 lakh

- ⁠Loan tenure : 12 to 84 Months
- ⁠Rate of Interest: Starting from 12.65%

Eligibility Criteria :-

- ⁠Targeted Customer: Employees of companies with categories of Super

A, Cat A, Cat B, Government and Cat C
- ⁠Business Locations: As per approved pincode location list

41
 - ⁠Radius Check: Customer should be within 50 KM from their current
address while applying for the loan
- ⁠Age Norms: 30 years (at the time of application) to 58 years old ( at the
time of loan maturity)

Let’s capitalize on this opportunity by pushing maximum leads 24/7 to

achieve instant approvals and swift disbursals.

Policy Highlights*
IDFC BANK PERSONAL LOAN

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INCRED PERSONAL LOAN

43
 INCRED SELF EMPLOYED

- Loan Amount 50k to 7.5 Lac

-Min. Cibil 700+ (-1cibil Not allowed)
-Min. Age 23 to 60 Years
-ROI - 18.99% to 30%
-Tenure- up to 48 months
- Physical Verification Mandatory for office and residence.
- Customer Profile-Proprietorship (Business Owned by single person
allowed only)
-Resident Profile-Owned & Rented (Both Rented Allowed)
- Resi Cum office Allowed with Owned house and GST
- Business Proof- GSTIN Certificate OR ITR (Last two year with
minimum gap of 6 months)

Documents required for login: -

1.KYC Documents
2.Last 6 Month bank statement (Saving/Current)
3.GSTIN Certificate

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HDFC PERSONAL LOAN

45
 AXIS FINANCE PERSONAL LOAN

*Axis Finance - Personal Loan Upto 50L to Government Employees &

Super CAT A Company (Sal>50k)*💰
✅ Loan up to ₹50 Lakh
✅ Tenure up to 84 months
✅ Minimum ₹50K/month income required
✅ CIBIL 730+ & ICS 550+
✅ Open for Fresh & Balance Transfer( Only Term Loans)
✅App Loans And CC Not Allowed BT
💡 Loan Amount Eligibility:
💵 ₹50K - ₹75K NMI → Up to ₹20L
💵 ₹75K - ₹150K NMI → Up to ₹30L
💵 ₹150K - ₹300K NMI → Up to ₹40L
💵 ₹300K+ NMI → Up to ₹50L
🏡 Self-Owned -FOIR -75% NDA 50K
Rented / Company Accom Accepted FOIR: 70%
💰 ROI: Starting 14 %* Depends On IC Score+ 1.50% PF

46
WERIZE FINANCE

47
A loan is a form of debt incurred by an individual or other entity. The
lender—usually a corporation, financial institution, or government—
advances a sum of money to the borrower. In return, the borrower agrees
to a certain set of terms, including any finance charges, interest,
repayment date, and other conditions.
Banking holds a crucial role in our day-to-day life. We must adhere to
the banking system as responsible citizens. The banking system acts as a
crucial base for the financial system. It provides a base to the market and
the companies.
A loan is a form of debt incurred by an individual or other entity. The
lender—usually a corporation, financial institution, or government—
advances a sum of money to the borrower. In return, the borrower agrees
to a certain set of terms, including any finance charges, interest,
repayment date, and other conditions.
Begin by clearly stating the loan's purpose and amount, followed by a
brief overview of the borrower's creditworthiness and financial standing.
Next, outline the loan terms, including interest rate, repayment period,
and any collateral requirements.

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