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
Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility
Aphelion Finance Personal Loan Interest Rates February 2023
Particulars | Details |
---|---|
Rate Of Interest | 21% p.a. & above |
Loan Amount | ₹50,000 – ₹5,00,000 |
Tenure | 1 year – 3 years |
Minimum Lock-in Period | 9 months |
EMI Payment Options | Through ECS, NACH and Post dated cheques |
Prepayment | Allowed 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 Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
---|---|---|---|---|---|
₹ 5,00,000 | 21% | 1 | ₹ 46,557 | ₹ 58,683 | ₹ 5,58,683 |
₹ 5,00,000 | 21% | 2 | ₹ 25,693 | ₹ 1,16,628 | ₹ 6,16,628 |
₹ 5,00,000 | 21% | 3 | ₹ 18,838 | ₹ 1,78,151 | ₹ 6,78,151 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Year | Principal | Interest | Balance 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
Documents | Applicant | Co-applicant | Guarantor |
---|---|---|---|
Passport Size Photos (Recent) | Yes | Yes | Yes |
Income Tax & Identity Proof (Combined) PAN Card / Aadhaar Card | Yes | Yes | Yes |
Identity & Address Proof (Combined) Passport / Voters Id / Other | Not mandatory | Not mandatory | Not mandatory |
Address & House Ownership Proof (Combined) Electricity Bill / Property Purchase Agreement / Redevelopment Agreement | Yes | Yes | Yes |
Address Proof Telephone Bill / Leave & License Agreement | Required only in case of Rented Premises | Required only in case of Rented Premises | Required only in case of Rented Premises |
Relationship Proof Ration Card | Yes | Yes | Yes |
Income Proof Salary Slips / IT Returns | Yes Salaried – 3 months payslip Business – 3 years ITR | Yes Salaried – 3 months payslip Business – 2 years ITR | Yes Salaried – 1 months payslip Business – 1 years ITR |
Savings Proof Updated Bank Statement | Yes Salaried – l year Business – 2 years | Yes Salaried – 6 months -1 year Business – 6 months – 2 years | Yes Salaried – 6 months Business – 6 months |
Cheques of above Bank A/c with S.V. | As per scheme/ECS | 1 Cheque in favour of AFPL | 1 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:
Particulars | Details |
---|---|
Personal Details | Name of the applicant Father's name Qualification Date of birth Martial status PAN |
Employment Details | Salaried/ Professionals Address Telephone number of office or business Duration of Job/ Establishment year Net salary/ Net Income |
Residence Details | Ownership (owned, P.G., relative) Telephone number Permanent details |
Loan Details | Loan Amount Loan tenure Interest rate |
Details of Bank Statement | Bank name Account Number Account Type |
Family Details | Name of the member Relation with the member Occupation Monthly Income Age |
Co- Applicant's Details | Name Date of Birth Marital status Occupation Contact number Present monthly income Knowing since (years) |
Guarantor's Details | Name Date of Birth Marital status Occupation 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