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Apply Personal Loan Online at Lowest Interest Rate Upto Rs. 40 Lacs

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Overview of Personal Loan

Personal Loan is an instant financial relief against your financial woes. There may arise a situation where you need immediate funds to meet any kind of contingencies. At that point, Instant Personal Loan is your best option. Starting from medical expenses to paying off debts, you can go for Personal Loan in India for almost all kinds of needs. When you opt for Personal Loan apply online, you can avail Instant Personal Loan online by filling up Personal Loan application form online. To enjoy personal loan interest rates at a competitive range, you need to fulfill the eligibility criteria of low interest Personal Loans. You do not have to keep any collateral with the financial institution when availing unsecured Personal Loan. To obtain the lowest interest rate Personal Loan, your credit score must be 750 or more. You can easily avail the lowest interest rate Personal Loan, your eligibility criteria must be high. Moreover. The documentation for Personal Loans online is very minimum and easy. Personal Loan online apply enables easy loan approval and disbursal. The best Personal Loans offer up to Rs. 50 lakhs (may differ) with a flexible loan repayment tenure ranging from 1 to 5 years.

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Features & Benefits of Personal Loan

Availing Personal Loans online helps you to avail Personal Loan interest rates in all banks and other details of Instant Personal Loan. Personal Loan interest rates primarily depend on your credit score and your repaying capacity. But if you need Personal Loan with bad cibil score or Personal Loan for cibil defaulter, there is a huge possibility that you might not get a Personal Loan. So, always maintain a good credit history and repay the loan within the stipulated time period to avail low interest Personal Loans. When you go for Personal Loan apply online, you are benefitted with the best Personal Loan offers. Here are some of the features and benefits of Instant Personal Loan-

  • Personal Loan online apply offers Instant Personal Loan comparison online and checking Personal Loan interest rates in all banks and NBFCs.
  • You can obtain the lowest interest rate Personal Loan in India up to Rs.50 lakhs (might vary) based on your eligibility criteria. Moreover, your repaying capacity must be high enough to repay the low interest Personal Loans.
  • You can repay Instant Personal Loan online by easy EMI option which is very budget-friendly. The flexible loan tenure lies between 1 to 5 years for Instant Personal Loan online.
  • Simple and easy paperwork makes Personal Loan online apply very feasible. Your ID proof, income & address proof are very essential to apply for Personal Loan in India.
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  • Personal Loan interest rates are very attractive and highly depends on your credit score and your income level.
  • If you have any ongoing loan payments, you can opt for Personal Loan balance transfer at a lower interest rate. This will reduce your interest payment towards your EMI.
  • After you opt for Personal Loan online apply, you can check your online Personal Loan application status.
  • You need to pay a very minimal processing fee over and above Personal Loan interest rates. But there are no hidden charges along with the low interest personal loans to hurt your budget.

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Personal Loan EMI Calculator


Required Loan Amount
Interest Rate
Tenure In Months
If you avail loan amount of  1 lakh at 10.99 interest rate, you would have to pay  8837.70 as EMI amount for a tenure of 12 months.

* The result is based on historic performance of Personal Loan EMI

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Instant Personal Loan Online Eligibility Criteria

In order to avail Personal Loan interest rates at an affordable range, you need to satisfy the eligibility criteria of instant Personal Loan which is very minimal. Personal Loan online apply at an early age will help you to secure the lowest interest rate Personal Loan. This is because you will have a higher repaying capacity than the older applicants. Moreover, you must have a good credit score and a decent income level to accomplish Instant Personal Loan eligibility criteria.

  1. Age

    21-65 years

  2. Credit Score

    750 or more

  3. Profession

    Salaried and Self-Employed

  4. Work Experience

    Minimum 2 years of working experience with a minimum 1 year in the present organization (for salaried), Stable Business Continuity for a minimum period of 3 to 5 years

  5. Income

    Minimum salary of Rs. 20,000 or Min Turnover of Rs. 1 crore (might vary)

  6. Loan Amount

    Up to Rs. 50 lakhs (may vary)

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Documents Requirement for Instant Personal Loan

The paperwork required for Personal Loan online apply is very minimal. To enjoy the best personal loan interest rates, you must be able to submit the required documents.

Following are the documents that are required for Instant Personal Loan online apply-

Normal

pl-picLoan application form

pl-picPassport size photograph

pl-picID proof- PAN card, Passport, Driving License, AADHAR card

pl-picResidential proof- Any kind of Utility bills like Gas or Electricity bill, Water bill, Passport, Driving License

Salaried Individuals

pl-picRecently updated bank statement of last 6 months

pl-picCopy of Form 16

pl-picSalary slip of last 3 months

Self-employed

pl-picCopy of ITR of last 3 years

pl-picAudited Balance Sheet of last 2 years, Copy of Profit & Loss statement of last 2 years

pl-picVerified copy of Sales Tax Certificate/Memorandum and Articles of Association/Partnership Deed/Trade License

Personal Loan Online Apply

During any kind of financial crisis, instant Personal Loan is the best feasible option. With Personal Loan online apply, you can check online Personal Loan interest rates, documentation and eligibility criteria. Here are some key points as to why Personal Loan online apply is very useful and feasible-

  1. You can also easily compare Personal Loan interest rates in all banks and then go for Personal Loan online apply which offers the lowest interest rate Personal Loan.

  2. The best Personal Loans offers fast loan approval and disbursal. For instant Personal Loan online apply, you must fulfill the eligibility criteria which is quite minimal.

  3. The Personal Loan interest rates depend on your income, repaying capacity and credit history. Your existing debts must be lower than 40% of your income to enjoy low interest Personal Loans.

  4. The paperwork required for Personal Loan online apply are very minimal and simple. But if you are thinking of taking Instant Loan without documents, then it is not possible. Proper documentation is very essential for availing low interest Personal Loans.

  5. The repayment for Instant Personal Loan in India lies between 12 to 60 months with easy EMIs. You can easily opt for Personal Loan online apply at your own free time without standing in long queues of the banks.

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Top Up Personal Loan Apply Online

When there is an ongoing Instant Personal Loan, if you apply for a loan over the previous one, then it is called Top-Up Loan. You can use the top up on Instant Personal Loan in India to consolidate debt, reduce loan burden or meet any kind of financial needs. Personal Loan Interest Rates for top-up loan is quite attractive and easy to avail because of an existing relationship with the banks or NBFCs. As your profile verification has already been done when you opted for Personal Loan online apply, so obtaining a top-up loan becomes easy. Moreover, the documentation for top-up loan over the Instant Personal Loan is very minimal.
Here are some of the features of Top Up Loan over the Instant Personal Loan online apply-

Credit Score for Instant Personal Loan

At the time of Instant Personal Loan apply online, your credit score and credit history are accessed by the banks or NBFCs. Your credit score reflects your creditworthiness which is a very important factor that affects Personal Loan online apply. A high credit score helps in building trust and thus offers you with low interest Personal Loans. A minimum credit score of 750 or more is required to be eligible for a personal loan online apply.
Following are some crucial reasons as to why the credit score is a vital determinant of eligibility for personal loan online apply-

Personal Loan Application Form

At the time of personal loan online apply, approval of personal loan application is very crucial. Fulfilling the eligibility criteria and proper documents submission are very important in addition to the personal loan application form fill up. To avail personal loan interest rates at an attractive rate during personal loan online apply, several factors are considered. Some of the factors are- credit score, income level, job profile and stability, location, etc. To get approved for personal loan application form when opting for a personal loan online apply, you need to consider the following points-

Pre-Approved Personal Loans

To facilitate the selected customers based on their high credit score and repaying ability, pre-approved personal loans are offered by the banks and NBFCs. You can enjoy pre-approved personal loan online apply if you have a good credit history and proper repaying records. As you already satisfy the eligibility criteria, you can easily go for a pre-approved personal loan online apply. Also, the pre-approved personal loan interest rates are quite low and affordable. The repayment for pre-approved personal loan online apply is very flexible with easy EMI option within a period of 1 to 5 years.

Here are some features and benefits of Pre-approved Instant Personal Loan online apply-

Personal Loan Interest Rates Of Different Financial Institutions

When you go for personal loan online apply, based on your eligibility, the personal loan interest rates depend. Higher eligibility including a good credit score, proper repaying records will help you to enjoy personal loan i nterest rates at a lower level. But if your existing debts are consuming more than 40% of your income, then personal loan interest rates will be quite high. So, it is mandatory to maintain a good credit profile to enjoy personal loan interest rates at an attractive rate. Here is the list of Personal Loan interest rates of different financial institutions-

Banks Loan Tenure Interest Rates Pre-Closure Charges Processing Fees
ICICI Bank Personal Loan 1-5 years 11.49%* 5% of outstanding principal + GST Rs. 999*
YES Bank Personal Loan 1-5 years 12.49%* Within 12 to 24 months: 4% Within 24 to 36 months: 3% Within 36 to 48 months: 2% After 48 months :No charges. 2% or 3% of the principal*
IndusInd Bank Personal Loan 1-5 years 12.99%* 4% of outstanding principal Up to 2.50%
Axis Bank Personal Loan 1-5 years 15.50%* NIL Up to 2.00%
HDFC Bank Personal Loan 1-5 years 10.99%* Between 2% to 4% of the outstanding principal. Up to 2.50%
Bajaj Finserv Personal Loan 1-5 years 14.75%* NIL Up to 3%
IndiabullsDhani Personal Loan 1-5 years 11.99%* 5% if less than 6 months. Up to 5%
IndiabullsDhani Personal Loan 1-5 years 11.99%* 5% if less than 6 months. Up to 5%
Kotak Mahindra Bank Personal Loan 1-5 years 11.50%* 5% of outstanding principal. Up to 2.5%
IDFC First Personal Loan 1-5 years 10.99%* 4% of outstanding 2% – 4%
Aditya Birla Capital Personal Loan 1-5 years 11.75%* 4% of principal outstanding in 1st year, 3% in the 2nd year, and thereafter preclosure permitted after 6 months. 1% of principal.
Capital first Persona Loan 1-5 years 16%* 4% of outstanding Up to 2.49% of the loan amount
TATA Capital Personal Loan 1-6 years 13.99%* 4.5% of the outstanding principal. And NIL for the initial 6 months Up to 2%
Fullerton India Personal Loan 1-5 years 17.25%* 4% of outstanding principal. Up to 2%
ECL Finance Personal Loan 1-5 years 17.50%* 4% of principal amount outstanding+GST Up to 2% of the loan amount

*Interest rates change time to time and Loan approval are subjected to band discretion and approval.

FAQ's
Frequently Asked Question
. What is the minimum credit score when opting for Personal Loan online apply?
Ans: A minimum credit score of 750 or more is required when going for personal loan online apply.
. What effect does existing debts have on Personal Loan interest rates?
Ans: When you go for a personal loan online apply, you must try to pay off all the existing debts before. Or else, your repaying capacity will get reduced and personal loan interest rates will be high. So, the existing debts negatively affect personal loan interest rates when you opted for personal loan online apply.
. What is the minimum personal loan interest rates charged for Personal Loan online apply?
Ans: The minimum personal loan interest rates starts from 10.99%* when you go for personal loan online apply.
. How to get Rs. 10 lakhs instant personal loan online?
Ans: You can easily avail instant personal loan of Rs. 10 lakhs when you go for personal loan online apply based on your eligibility criteria.
. How to get personal loan online?
Ans:For personal loan online apply, you can easily check the online financial marketplace like FreEMI.in to get an idea of personal loan interest rates and eligibility criteria. You have to visit the website of FreEMI.in and select the Personal Loan option from the dropdown under the Loans section. Then you can fill-up the form and proceed for personal loan online apply by clicking on the ‘Apply Now’ button.
. What is the loan repayment tenure for Instant Personal Loan?
Ans:You can easily repay Instant Personal Loan within a tenure of 12 months to 60 months.
. How to get 50,000 instant personal loan?
Ans: Based on your eligibility criteria, you can opt for personal loan online apply. Your income, credit score, job stability, repaying capacity highly affects how much instant personal loan you are eligible for.