Capital First Personal Loan
You must be aware of what a personal loan is? In this section, we will be discussing each and everything related to the Capital First Personal Loan, and will it be wise to choose this in your financial hard times?
Personal Loans from Capital First provides you money for all your personal needs and expenditures – whether you need money for a medical emergency, or to pay your personal bills, to finance your family vacation or for any celebration at home. Capital First personal loan is always there to help. It is a quite simple, easy and convenient process to avail a Capital First personal loan. You need to apply online and fulfill the minimum eligibility criteria requirement.
Capital First Personal Loan Details
Interest Rate: 12% to 18% per annum
Processing Fees: 1.5% of the loan amount
Tenure Period: 1 year to 5 years
Pre-closure charges: Pre closure allowed after 6 months. Charges applicable is 5% of outstanding principal + applicable taxes
Top Benefits of Capital First Personal Loans
- Only minimal documentation is required.
- There are no collaterals required.
- Fast processing of the loan.
- Prepayment facility available.
- Easy eligibility criteria.
Features of Capital First Personal Loan
Easy to Apply
One can apply for Capital First Personal Loans online. The process is very simple, you just need to go to the website and fill the required details. You will get to know your eligibility within 2 minutes.
Easy to Use Personal Loan Eligibility Calculator
One can use the personal loan eligibility calculator and find out whether he/she is eligible for the loan or not before they apply.
High Loan Amount
Capital First offers personal loan for salaried individuals and self-employed professionals both. The amount that can be borrowed through a Capital First personal loan is from ₹1 Lakh to ₹25 Lakhs but it depends on the applicant’s eligibility.
Long & Flexible Repayment Tenure
Capital First provides you a flexible repayment tenure for its personal loan ranging from 1 year to 5 years.
Top-up Facility is Available
One can borrow on the top of their personal loan if they need more money to fulfill their requirement.
Pre-closure is Allowed
Pre-closure of a personal loan with Capital first is allowed but after 6 months from which you start repaying the loan. The pre-closure charges applicable is 5% on the outstanding principal amount.
No Collateral Requirement
There is no collateral required to avail a personal loan from Capital First.
Who is Eligible to avail a Personal Loan from Capital First?
The eligibility criteria to avail a Capital First Personal Loan is based on the following parameters.
For Self Employed Individuals:
- A self-employed individual must have an existing business for last 3 years
- The business should be in profit even after paying all the relevant taxes and bills
- Minimum Age required to avail this loan is 28 years and the Maximum Age at the time of loan maturity can be 68 years.
For Salaried Individuals:
- Minimum age required to avail this loan is 23 years and the maximum age at the time of loan maturity can be 58 years.
- The minimum monthly in-hand income should not be less than ₹20,000.
- The ratio of existing fixed monthly obligations to income (FOIR) should not be more than 50%.
- The applicant should have good CIBIL Score with no late payments or defaults in the last 6 months
- The applicant should not have applied elsewhere in the last 6 months for a loan.
What are the Documents Required for Capital First Personal Loan?
Photo Identity Proof
Passport / Pan Card / Voter Id Card / Driving License / Aadhaar Card ( any one).
Ration Card / Passport / Aadhaar Card / Driving License / utility Bill such as- Telephone Bill electricity bill ( any one).
For Salaried Individuals
Last 6 months’ bank statement, Salary slip, ITR.
For Self-Employed Individuals
- Last 2 years ITR, P&L and Balance Sheet for the last 2 years, Last 6 Months’ Bank Statement.
- Business existence proof: Certificate / Certificate of Practice (COP), Shop Act License / MOA & AOA / Sales Tax / Vat registration / Partnership Deed.