Feb 16

Capital First Personal Loan

Team Antworks

Built up in 2012 by Mr. V. Vaidyanathan, Capital First is a main money related specialist co-op in India with a FICO score of AA+. The organization was built up with the point of financing India’s 50 million MSMEs and its advancing working class. With the course of time, Capital First has set up a strong brand name by beginning new organizations and obtaining new offer investors.

Documentation needed to apply for an Capital First Personal Loan

1. PAN Card – For Individual
2. Identity Proof – Any one (e.g. Voter ID / Driving License / Passport)
3. Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
4. Relationship Proof (if required)
5.Passport Size Photographs
6.Any other valid Photo ID card issued by central or state government
7. Latest 6 months Salary credit Bank Statements
8. Documentation for salaried applicants:
- Latest 2 months pay slips and Form 16 issued by the employer.
- Income documents of salaried spouse (in case of clubbing of income)

Capital First Personal Loan Interest Rates

Capital First Personal Loan Details

Interest Rate (Monthly reducing balance)	12% to 18%
Processing Fees	Up to 1.5% of the loan amount
Loan Tenure	1 year to 5 years
Pre-closure charges	Charges on pre-closure-Preclosure permitted after 6 months. 5% of principal outstanding (plus applicable tax)
Guarantor Requirement	No guarantor required

eatures of Capital First Personal LoansA personal loan from Capital First can help you on your path to financial freedom, providing you with finances for a wide variety of repayment options and tenures. The institution will ensure that you receive the maximum loan possible, taking into consideration your CIBIL score, documentation, requirement and repayment history.

Interest rate – Your interest rate determines how much more you’ll be paying back to the loan provider than what you’ve borrowed. Hence, a competitively low interest rate is what you should look for when taking a personal loan. Fortunately, Capital First offers loans at competitive interest rates of 15% to 20% for salaried applicants and 22% for self-employed applicants, on a monthly reducing balance model.
Processing fees – is a charge levied by the loan provider to meet the costs of processing and approving your personal loan. Capital First charges a 2% processing fee + tax for this purpose.
Loan tenure – is an important factor when deciding to take a personal loan. It determines how long you will be paying monthly instalments to clear off your loan. Longer tenures generally come with marginally higher interest rates while smaller tenures have marginally lower interest rates. Capital First offers loans for tenures ranging from 1 year to 5 years.
Pre-closure charges – are those that are levied by the loan provider in addition to your existing payable balance, if you wish to close your loan early. Charges on pre-closure are 5% on POS (Principal Outstanding) after clearing 6 EMIs.
Guarantor requirement – Most loan providers, for most types of loans, require you to present a guarantor – or a person who backs your ability to repay the loan. Capital First does not require a guarantor and this saves you a lot of time and effort in securing your loan.