Need funds for an emergency, travel, or big purchase? Utkarsh Small Finance Bank offers quick personal loans for salaried individuals with flexible repayment options.
Here’s a simple breakdown of eligibility, interest rates, and how to apply:
Key Features
✅ Loan Amount: ₹2 Lakhs – ₹20 Lakhs
✅ Tenure: 1 to 7 years (varies by loan type)
✅ Interest Rates: Starting at 13% p.a. (based on salary & company category)
✅ Fast Processing: Digital approval for eligible applicants
✅ Special Offers: Lower rates for government employees & balance transfers
Who Can Apply?
1. Basic Eligibility
✔ Age: 23 to 58 years (or retirement age)
✔ Employment:
- Minimum 6 months in current job
- Total work experience: 2+ years
✔ Salary: - Private Employees: ₹20K–₹60K/month (varies by company category)
- Government Employees: ₹20K–₹65K/month (varies by department)
✔ CIBIL Score: 650+
✔ Salary Account: Must be credited to a bank account
2. Company Categories (A to E)
| Category | Private Employee NTH (₹) | Govt. Employee NTH (₹) |
|---|---|---|
| A | ₹20K–50K | ₹65K+ |
| B | ₹20K–60K | ₹60K+ |
| C | ₹25K–60K | ₹45K+ |
| D | ₹25K (Not eligible for PL Maxima) | ₹20K+ |
| E | ₹30K (Approval needed) | Not eligible |
(NTH = Net Take-Home Salary)
Interest Rates & Charges
1. Regular Personal Loan (Non-BT)
| Category | NTH < ₹50K | ₹50K–80K | NTH > ₹80K |
|---|---|---|---|
| A | 16% | 15% | 13% |
| B | 18% | 16% | 14% |
| C | 19% | 18% | 16% |
| D | 20% | 19% | 17% |
| E | 20% | 20% | 19% |
2. Balance Transfer (BT) Loan
✅ Lower interest rates (from 13%)
✅ Eligible from Banks/NBFCs
✅ Credit card balance transfer allowed
3. Other Charges
- Processing Fee: 1.5%–2% of loan amount
- Insurance: Up to 3% of loan amount (compulsory)
- Pre-EMI Interest: Charged if disbursed mid-month
Documents Required
📌 For Regular Loan (₹2L–₹10L):
- PAN + Aadhaar
- Latest 3 months’ salary slips
- Latest 3 months’ bank statements
- Employment proof (ID card/Appointment letter/Form 16)
📌 For PL Maxima (₹10L–₹20L):
- PAN + Aadhaar
- Latest 6 months’ bank statements
- Additional income proof (if required)
How to Apply?
1️⃣ Check Eligibility – Ensure you meet salary & CIBIL criteria.
2️⃣ Submit Documents – Upload digitally for faster processing.
3️⃣ Get Approval – Receive loan offer in 24–48 hours.
4️⃣ Disbursement – Amount credited to your account.
💡 Pro Tip: Government employees & high-salary applicants get lower interest rates!
Why Choose Utkarsh Bank?
✔ Flexible EMI options (up to 7 years)
✔ Lower rates for balance transfers
✔ Quick digital approval
✔ Pan-India availability
📞 Contact kreditfin today for a hassle-free loan! Apply here
