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Aphelion Finance Private Limited Personal Loan

Aphelion Finance Private Limited Personal Loan

Last Updated : July 14, 2020, 10:12 p.m.

About Aphelion Finance Private Limited Personal Loan

To meet the immediate needs of salaried and self- employed Aphelion Finance provides the hassle- free personal loan to its customers. The loan can be utilized for any reasons. Whether it’s home renovation, education, business, memorable occasions or purchasing of the vehicle the customer can take a loan up to INR 5,00,000 from this renowned NBFC. The loan can be prepaid after the lock- in a period of 9 months. The interested customer can visit the nearest branch office and apply for the loan. However, to know more about Aphelion Finance Personal Loan, go through this article further.

Personal Loan

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    Aphelion Finance Personal Loan Interest Rates April 2024

    Rate Of Interest21% p.a. & above
    Loan Amount₹50,000 – ₹5,00,000
    Tenure1 year – 3 years
    Minimum Lock-in Period9 months
    EMI Payment OptionsThrough ECS, NACH and Post dated cheques
    PrepaymentAllowed after 9 months

    Eligibility Criteria

    Any salaried or self- employed individual can apply for the loan by fulfilling the below- mentioned conditions:

    • The minimum age of the candidate should be 23 years and the maximum age can be 58 years or the retirement age whichever is lower.
    • The applicant must have a residency in Mumbai, Navi Mumbai or Thane.
    • In case, the applicant doesn’t have an own house then he needs to add a co-applicant who holds the house in his name. The residency should be in a geographical limit of Bhayander (Western), Badlapur & Titwala (Central) and Belapur (Harbour).

    Aphelion Finance Personal Loan EMI Calculator

    Before knowing anything else, it is important for you to understand what EMI basically stands for. An EMI is nothing but Equated Monthly Installment, a monthly amount that the borrower has to pay to settle the availed loan. The EMI consists of both principal and interest amount. This amount can be computed using the EMI calculator, a smart device designed specifically to help the borrower in knowing his monthly installment amount. It works with simple functionality and gives the results immediately. The user just needs to enter the loan amount, tenure and the rate of interest and it will automatically calculate the result by revealing the interest outgo and total amount payable on the loan.

    For Instance, A customer avails a loan of INR 5,00,000 for his daughter’s marriage for the tenure of 3 years at the interest rate of 21%p.a. He wants to know how much amount he has to pay per month for the tenure of 36 months. He places the values in the calculator and gets the output instantly. His EMI amount is INR 18,838 and the total interest amount is INR 1,78,151.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 5,00,00021%1₹ 46,557₹ 58,683₹ 5,58,683
    ₹ 5,00,00021%2₹ 25,693₹ 1,16,628₹ 6,16,628
    ₹ 5,00,00021%3₹ 18,838₹ 1,78,151₹ 6,78,151

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 1,33,408₹ 92,642₹ 3,66,591
    2₹ 1,64,284₹ 61,766₹ 2,02,306
    3₹ 2,02,630₹ 23,744₹ 0

    Documents Required

    Passport Size Photos (Recent)YesYesYes
    Income Tax & Identity Proof (Combined)
    PAN Card / Aadhaar Card
    Identity & Address Proof (Combined)
    Passport / Voters Id / Other
    Not mandatoryNot mandatoryNot mandatory
    Address & House Ownership Proof (Combined)
    Electricity Bill / Property Purchase Agreement /
    Redevelopment Agreement
    Address Proof
    Telephone Bill / Leave & License Agreement
    Required only in case of Rented PremisesRequired only in case of Rented PremisesRequired only in case of Rented Premises
    Relationship Proof
    Ration Card
    Income Proof
    Salary Slips / IT Returns
    Salaried – 3 months payslip
    Business – 3 years ITR
    Salaried – 3 months payslip
    Business – 2 years ITR
    Salaried – 1 months payslip
    Business – 1 years ITR
    Savings Proof
    Updated Bank Statement
    Salaried – l year
    Business – 2 years
    Salaried – 6 months -1 year
    Business – 6 months – 2 years
    Salaried – 6 months
    Business – 6 months
    Cheques of above Bank A/c with S.V.As per scheme/ECS1 Cheque in favour of AFPL1 Cheque in favour of AFPL

    How To Apply

    The candidates willing to apply for the personal loan can apply for the loan by visiting the nearest branch office. Yes, you need to visit the branch in person along with all the required documents so that your personal loan application can easily be accepted by the lender. It is no doubt one of the easiest way to get your loan approved. And, the best thing is that executives will coordinate with you and help you in the best possible way.

    Aphelion Finance Application Form

    To avail the loan the candidate needs to fill the application form and submit the same at the nearest branch office. The form can also be downloaded from the official website. There are various sections that are to be mandatorily filled and they are:

    Personal DetailsName of the applicant
    Father's name
    Date of birth
    Martial status
    Employment DetailsSalaried/ Professionals
    Telephone number of office or business
    Duration of Job/ Establishment year
    Net salary/ Net Income
    Residence DetailsOwnership (owned, P.G., relative)
    Telephone number
    Permanent details
    Loan DetailsLoan Amount
    Loan tenure
    Interest rate
    Details of Bank StatementBank name
    Account Number
    Account Type
    Family DetailsName of the member
    Relation with the member
    Monthly Income
    Co- Applicant's DetailsName
    Date of Birth
    Marital status
    Contact number
    Present monthly income
    Knowing since (years)
    Guarantor's DetailsName
    Date of Birth
    Marital status
    Contact number
    Present monthly income
    Knowing since (years)

    Factors Affecting Personal Loan Eligibility

    Below are the factors that affect Personal loan eligibility:

    • Monthly Income
    • Age
    • Monthly Expenses
    • Any Other Loan
    • Credit History
    • Job Stability
    • Relationship with the Bank
    • Category of Your Employer

    Features and Benefits

    • Collateral free loan
    • Flexible repayment options
    • Facility of doorstep services
    • Speedy approval
    • Fastest disbursal
    • Higher loan amount up to INR 5 lakhs

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