Personal Loan is an unsecured loan which helps to meet immediate of various kinds such as-
- Any medical emergencies
- School/College fees of your child
- Wedding Purpose
- Home Renovation
- Buying any electronic gadget etc.
To meet your personal needs, you can take personal loan from any bank or non-banking financial company (NBFC). With minimum
paperwork and quick loan approval process, you can easily opt for personal loan to overcome your immediate financial crisis.
A situation of financial crisis may arise at any time irrespective of your financial status. Personal Loan gives you a great
opportunity to meet your immediate financial needs with no security kept as a collateral. Also, there is no pre-defined purpose for
which you have to use your personal loan. The personal loan approval process is very quick and the disbursal process is also
very quick and user-friendly. One of the best benefit of taking a personal loan, is that you can improve your credit score. If you
take a personal loan and repay it within a stipulated time period,you will be able to increase your credit acore which increase your creditworthiness.
You can use personal loan for almost every need as there is no limit to the purpose of it’s use. Here we are specifying the types
of personal loan-
Holiday Loans In todays hectic schedule, we always try to take some time off and relax. So, going for
vacation with friends and family is always enjoyable and stress free. In order to enjoy your holiday without hampering your
saving is quite challenging. In this case, Personal Loan comes to action. With attractive interest rates and quick disbursal
mechanism, personal loan takes care of your holiday.
Wedding Loans Everybody dreams of a perfect wedding day. A perfect wedding day comprises of great place,
awesome decoration, expensive dresses and jewelleries and mind boggling food. To be able to pull off the wedding as per the
above requirements, you can use personal loan.
Business Loans In order to start a new business venture or expand the existing business, you can take a personl
loan. Personal loan helps to stabilize your business with the monetary support without giving the burden of any collateral to
be kept with the lending institution.
Medical Expense Loans Nowadays, nobody is leading a healthy life. Today, you cant guarantee a healthy life.
So, suffering from any illness or disease is very common. But the situation gets worse, when the illness costs you quite high. When
you are unable to afford the high medical expense or any operation, just go for personal loan. Personal loan helps in
meeting your emergency financial needs.
Home renovation Loans To be able to stay comfortably, you invest your money to renovate your home. But
repairing and renovating home requires a lot of money. So, if you opt for personal loan, you will be able to renovate your home without the tension of money.
Fresh Funding Millenials with a new job and big dreams in their eyes are the ones who require loan the most.
Personal loan helps to meet your financial needs and also helps in building a good credit score, if you repay your loan properly
in time. So, a good credit score (preferably 750 and above) will help you young people to get loan later when you will need again.
Consumer Durable Loans In todays advanced era,we all want to stay updated technologically. We all wish to buy
new advanced electronic gadgets which are very expensive. So, without hampering our savings, just go for personal loan.
Personal loan will not only help you to buy your product but also helps in incurring the habit of monthly repayment of the loan.
Festive Loans India is a diversified country,where we celebrate all kinds of festivals round the year.
Festivals are very auspicious and enjoyable. But these celebrations are quite expensive. So, in order to celebrate
without any tension of money, you can go for personal loan.
Car Loans Today buying a car is not an item of luxury but an item of daily needs. Also, some people loves to buy
luxury cars. We all know car is very expensive product to buy.So, personal loan is a great choice to fulfill your dream of owning a car.
In order to apply for Personal Loan, you need to qualify for the following eligibility criteria-
Age Minimum and maximum age bracket is 21 to 58 years respectively.
Net Income You should earn a net monthly income of Rs. 20,000.
Job Stability You must be a salaried individual with at least 2 years of job experience.
Credit Score You should maintain a a dexcent credit score of 750 and above.
Repayment You will be able to repay your loan with loan tenure of minimum of 12 months and maximum of 60 months.
In order to apply for Personal Loan, you need to qualify for the following eligibility criteria- After you qualify for the eligibility criteria to apply for
personal loan, you should submit the following set of documents to the lending institution-
- AADHAR Card
- Pan Card
- Voter ID card
- Passport size photograph
- Electricity bill
- Gas bill
- Registered Rent Agreement
- Driving License
INCOME DOCUMENTS, PROOF OF EMPLOYMENT:
- Payslip of last 3 months
- 6 months salary account bank statement (updated).
- Copy FORM 16 for last 2 years.
- Employment certificate from your current employer.
- Valid documents for your current obligations related to your existing loan and installments for credit cards.
*Interest rate and Loan approval
are subjected to band discretion and approval.