In the ever-changing landscape of financial needs, personal loans have emerged as a reliable solution to bridge the gap between aspirations and reality. Capital First, a leading financial institution, offers a range of personalized personal loan solutions to help individuals meet their diverse financial goals. In this article, we will delve into the world of Capital First Personal Loans and explore how they can provide the financial boost you need.
Key Features of the Capital First Personal Loan
| Eligibility Criteria | Details |
| Age | 23 to 58 yrs(at loan maturity) |
| CIBIL | 750 |
| Capital First Personal Loan Interest Rate | 10.49% per annum |
| Lowest EMI per lakh | Rs. 2149 |
| Tenure | 12 to 60 Months |
| Capital First Personal Loan Processing Fee | up to 3.5% |
| Prepayment Charges | Decided by bank |
| Part Payment Charges | Decided by bank |
| Minimum Loan Amount | Rs. 1 lakh |
| Maximum Loan Amount | Up to Rs. 40 Lakh |
Capital First Personal Loan Eligibility Criteria
Eligibility criteria for a personal loan:
| CIBIL score | 750 or above |
| Age | 21 to 58 yrs |
| Min Income | Rs. 15,000 to Rs 25,000 |
| Occupation | Salaried/Self-Employed/Pensioner |
Capital First Personal Loan Interest Rate and Charges
| Capital First Personal Loan Interest Rate | 10.49% per annum |
| Capital First Personal Loan Processing Charges | Up to 3.5% |
| Prepayment Charges | NIL |
| Stamp Duty | NIL |
| Cheque Bounce Charges | As per Bank |
| Penal Interest | As per Bank |
| Floating Rate of Interest | NIL |
Capital First Personal Loan Documents Required
| Form | Duly filled and signed application form |
| Proof of Identity | Copy of: > Passport > Driving License > Aadhaar Card > Voter ID Card |
| Proof of Address | Rent Agreement (Min. 1 year of stay) Utility Bills Proof of permanent residence Ration card, Bank Account Statement, Latest Credit Card Statement |
| Proof of Income | ITR: Last two financial years( For self-employed)> Salary Slip: Last 6 months (Salaried Employee)> Bank Statement: Last 3 months |
Capital First Personal Loan Compared to Other Banks
| Particulars | Capital First | HDFC Bank | Bajaj Finserv | Axis Bank | Citibank | Private Bank |
| Interest Rate | 10.49% | 10.49% to 21.50% | Starting from 12.99% | 15.75% to 24% | Starting from 10.49% | 10.50% to 19.25% |
| Tenure | 12 to 60 Months | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months |
| Loan amount | Up to Rs. 40 lakh | Up to Rs. 40 lakh | Up to Rs. 25 lakh | Rs. 50,000 to Rs. 15 lakh | Up to Rs. 30 lakh | Up to Rs. 20 lakh |
| Processing Fee | 1.50% to 2% of the loan amount | Up to 2.50% of the loan amount | Up to 3.99% of the loan amount | Up to 2% of the loan amount | Up to 3% of the loan amount | Up to 2.25% of the loan amount |
How to Calculate EMIs for Capital First Personal Loan?
For the purpose of calculating the Capital First Personal Loan, the following data is required:
- The required quantity of the loan
- The Rate of Interest on your Loan
- Duration of your loan
Capital First Personal Loan Processing Time
- Quick processing
- It requires less documentation.
- Processing fees range between 1.50% and 2% of the loan amount.
Capital First Personal Loan Preclosure charges
Is your fund all set? Then you may submit a Pre-closure application. For additional information, you can call or visit the branch.
Capital First Bank Personal Loan Overdraft Facility
An individual overdraft is a credit office that authorises you to withdraw cash as needed. You may also return the entire amount borrowed when the conditions are favourable. From this point forward, it is likely to be one of the most favoured credit options for accommodating unrestrictedly altering individual financial requirements.
Apply for an overdraft office as an unanticipated new development unique to Capital First Bank. The flexible improvement office possesses all the outstanding features of a modest overdraft credit.
Different Personal Loan Offers by Capital First Bank
Home Loan
Capital First provides the finest personal Home loan.
- Your minimum age must be 21 years old.
- And the utmost age must be sixty
- Applicants with a Regular Income are required for a Home Loan.
- Earn more than the minimum monthly income requirement to facilitate approval.
Personal Loan for Government Employees
- Capital First provides all government employees with personal loans.
- The quantity of the loan is dependent on the employer.
Education Loan
Capital First provides Education Loans of up to Rs 10 Lac in India and Rs 20 Lac Abroad.
- Your loan limit should exceed Rs 4,000,000
- Maximum education loan in India is Rs 10 lacs.
- The maximum loan for studying abroad is Rs 20 lakh.
Personal Loan for Pensioners
- Processing fees range from 1% to 2%.
- Very inexpensive Interest Rate
Personal Loan Balance Transfer
- Transferring a Personal Loan balance entails transferring the amount to another institution.
- Reduced interest rates.
- Long repayment tenure.
Capital First Personal Loan Top Up
The Capital First personal loan offers a top-up, which is an additional sum added to the existing loan.
Capital First Personal Loan Status
- Visit this bank’s website.
- Verify eligibility.
- Complete the form with your details.
- The administrators will be in touch.
FAQs About Capital First Personal Loan
What is the maximum loan amount I can avail of through Capital First Personal Loan?
The maximum loan amount offered by Capital First Personal Loan depends on factors like your income, creditworthiness, and the lender’s policies.
Can self-employed individuals apply for a Capital First Personal Loan?
Yes, self-employed professionals who meet the lender’s eligibility criteria can apply for a Capital First Personal Loan.
What is the tenure range for Capital First Personal Loan?
The repayment tenure for a Capital First Personal Loan usually ranges from 1 year (12 months) to 5 years (60 months).
Is there a prepayment penalty for Capital First Personal Loans?
Capital First typically does not charge a prepayment penalty, allowing borrowers to foreclose their loans without incurring additional charges.
How long does it take to receive loan approval from Capital First?
The time taken for loan approval varies based on factors like application completeness and verification process. Generally, it takes a few working days.
Is there a processing fee for Capital First Personal Loan?
Yes, Capital First charges a processing fee for personal loan applications. The exact fee will be communicated during the application process.
Can I apply for a top-up loan with my existing Capital First Personal Loan?
Yes, subject to eligibility and approval, you may be able to apply for a top-up loan on your existing Capital First Personal Loan.
What are the acceptable documents for income proof?
Commonly accepted income proof documents include salary slips, income tax returns, and bank statements.
Can I change my repayment tenure after loan approval?
Once the loan is approved and disbursed, the repayment tenure is usually fixed. It’s important to choose the appropriate tenure during the application process.
Is there a maximum age limit for applying for a Capital First Personal Loan?
Yes, the maximum age limit for applying for a Capital First Personal Loan is generally around 60 years.
Can I apply for a Capital First Personal Loan offline?
Yes, you can visit a Capital First branch to apply for a personal loan offline.
Are there any special offers for existing Capital First customers applying for a personal loan?
Capital First occasionally offers special loan offers for existing customers. Check their official website for ongoing promotions.
Can I change my loan amount after submitting the application?
After submitting the application, changes to the loan amount are usually not permitted. It’s recommended to apply with accurate information initially.
What is the average processing time for a Capital First Personal Loan?
The processing time for a Capital First Personal Loan varies, but it usually takes a few days after submitting a complete application.
Is there a customer service helpline for loan-related queries?
Yes, Capital First provides a customer service helpline to assist with loan-related queries and concerns.
Is a guarantor required for a Capital First Personal Loan?
Capital First typically does not require a guarantor for its personal loans. The applicant’s eligibility and creditworthiness are the primary factors for loan approval.
Can I track my Capital First Personal Loan application status online?
Yes, you can track your application status by using the online tracking tool provided by Capital First.
Can I apply for a joint personal loan with a co-applicant?
Yes, you can apply for a joint personal loan with a co-applicant who meets the lender’s eligibility criteria.
What is the maximum and minimum loan amount I can apply for?
The minimum and maximum loan amounts offered by Capital First may vary based on your income and repayment capacity.
Is Capital First Personal Loan available for non-resident Indians (NRIs)?
No, Capital First Personal Loan is usually available only for Indian residents.
What happens if I miss an EMI payment for my Capital First Personal Loan?
Missing an EMI payment can attract late payment charges and negatively impact your credit score. It’s essential to make timely payments.
Can I avail of a balance transfer for my existing personal loan to Capital First?
Yes, you may be able to transfer your existing personal loan to Capital First for better terms and interest rates, subject to their policies.
Are there any hidden charges associated with Capital First Personal Loan?
Capital First aims for transparency and usually discloses all charges upfront. It’s recommended to review the loan agreement for any potential charges.
Can I prepay my Capital First Personal Loan?
Yes, you can prepay your Capital First Personal Loan, subject to terms and conditions. Prepayment options may vary based on the loan agreement.
What is the procedure for loan cancellation after approval?
If you wish to cancel your Capital First Personal Loan after approval, you should contact the lender’s customer service to initiate the cancellation process.
Can I change my loan repayment mode during the tenure?
Capital First usually offers different repayment modes. If you wish to change the mode, you should inquire with the lender’s customer service.
Can I convert my outstanding balance into EMIs for a Capital First Personal Loan?
Yes, depending on your loan agreement and the lender’s policies, you may be able to convert your outstanding balance into EMIs.
Is there a minimum income requirement for applying for a Capital First Personal Loan?
The minimum income requirement for a Capital First Personal Loan varies and is based on the lender’s criteria and your repayment capacity.
Is it possible to negotiate the interest rate for a Capital First Personal Loan?
While the interest rates are typically fixed, it’s advisable to inquire with the lender’s representatives if there’s room for negotiation based on your credit profile.
Can I apply for a Capital First Personal Loan if I have an existing loan from another bank?
Yes, you can apply for a Capital First Personal Loan even if you have an existing loan from another bank. Your overall repayment capacity will be assessed before approval.