Personal Loan
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Personal Loan
Personal loans are loans which are provided to individual’s without securing it against any collateral like a property, car etc. It is an unsecured loan.
Financers provide personal loans basis an individual’s credit history, salary/ income and the live loans.
Personal Loans are the best way to meet your expenses during an emergency or fund any unplanned situation in life. Whether you are planning your next dream vacation with your loved ones or want to get funds for our child’s education, a Personal Loan offers double benefits of quick access to funds and zero need for collateral.
The unsecured nature of this loan makes it vitally important for the lender to assess the credit history of the customer. CIBIL score is a tool which all financial institutions use for this purpose.
Most of the salaried persons, self-employed and professionals can apply for personal loans. With attractive interest rates, minimal documentation and speedy processing, we make this easy for you.
FAQs
01. WHAT IS THE MAXIMUM LOAN AMOUNT THAT I CAN BORROW FROM A FINANCIAL INSTITUTION?
This would completely depend upon various factors i.e. Your disposable Income, Existing Loans for which you pay EMIs, CIBIL behavior and most importantly Lender`s own internal policies.
02. WHAT IS THE REPAYMENT TENURE FOR PERSONAL LOANS?
03. HOW DO I REPAY THE LOAN?
04. DO I HAVE TO PROVIDE ANY SECURITY, COLLATERAL OR GUARANTOR?
05. WHAT IS AN EMI?
EMI stands for Equated Monthly Instalment. You repay the loan in EMIs, which comprising both principal and interest. Click here for EMI calculator.
06. WHAT ARE THE THINGS THAT ONE SHOULD LOOK FOR BEFORE APPLYING FOR A PERSONAL LOAN?
07. WHY IS IT IMPORTANT TO HAVE A GOOD CREDIT SCORE?