Description
Why Choose Afinoz App for a Personal Loan?
Traditionally you would head to the bank for a personal loan application. Fortunately, the internet has made obtaining a personal easier and more convenient. The personal loan app makes it even simpler to get loans without having to move out of the comforts of their home. Whether it is a marriage, a travel plan, a medical emergency or any other need, you can get instant personal loans with the aid of a personal loan app online.
Among several prominent apps, Afinoz App has shown a good response from the users. Let’s see more.
Afinoz Instant Loan App Reaching 1Lakh Downloads
We are happy to share the fact that our Afinoz App is reaching 20K downloads soon. The download number and reviews are increasing daily. The app link is
A bonanza offer!
First and foremost, Afinoz comes with an exclusive offer if you avail a personal loan through the instant personal loan app of Afinoz. Now you can earn cash back of up to Rs 5000 on the disbursement of your personal loan through Afinoz app, one of the best instant loan apps in India.
Use Afinoz app for personal loans
Download the Afinoz app for free from the Appstore, or play store. You can also use the web version of Afinoz to receive personal loans anytime and anywhere in a few simple steps. The simple steps are:
Step 1: Select the type of loan you want.
Step 2: Choose the option of whether you are salaried or self-employed.
Step3: Enter your personal details.
Step 4- Choose the financial lender you would be availing the loan.
Step 5: Enter personal details, loan amount and upload the documents.
Step 6: Within 4 to 48 hours after successful approval of the personal loan application the amount is disbursed to your account
You can finance anything you want with personal loans. Be it business needs, travel, wedding, education, medical emergency or any other urgency, Afinoz is a one-click solution to avail personal loans from the comforts of your home.
The personal loans are designed keeping in mind the self-employed and salaried people who have a continuous source of income. In a personal loan, you can borrow a fixed amount of money and will need to pay a fixed or a floating rate of interest and a fixed monthly payment.
The Afinoz app provides you the Personal Loan EMI calculator, to help you to calculate the details of three major things when you take a loan. These are the EMI (every month installment amount), the breakup and the amortization table. These three things are essential to get a clear picture to self evaluate whether you are eligible for the loan. The three essential factors of a loan which can be calculated using Afinoz EMI calculator are:
The EMI is the most critical result of Afinoz EMI calculator. You can use this to find out the amount of money you need to pay monthly including the interest rate. The borrower can thus, easily judge whether this amount is payable by the borrower monthly or not.
The breakup is also an essential parameter which is charged on the final amount. It is very crucial to bring transparency to the borrower in a loan deal as it highlights the processing, fee, the interest rate, the principal, and other finances too.
An amortization table is also an essential thing a borrower needs to know when they take a loan. This is the computation chart which draws out the advancements of the loan amount with time. This amortization table tells the borrower how much he needs to pay back the lender at the end of the loan periods. It clarifies the queries related to the initial EMI's, principal amount, and interest rates.
Top financial institutions offering personal loans
These top 10 financial institutions offer the best deal for personal loans. You can check them on Afinoz app too and consider the best deal for your need. These include:
1. State Bank of India personal loans
The State Bank of India Personal Loans is available for all the self-employed and salaried professionals. SBI personal loans offer its personal loan under three main categories
• State Bank of India (SBI) Xpress Credit Personal Loan
This personal loan can be obtained up to 15 lacs. It is valid for individuals aged 21 to 60 years of age. Its interest rate varies from 11.75% to 14.75%. The processing fee for this loan is1% of the loan amount and some applicable taxes are added. The loan repayment tenure is for 60 months.
• State Bank of India Personal for pensioners
SBI Personal Loan for Pensioners. The loan amount for a personal loan for the pensioners is up to Rs.25, 000 to 4, lacs. The loan tenure is valid up to 84 months and the individual should be maximum76 years to avail this loan.
• State Bank of India Saral Personal Loan
This loan requires the individual to be aged between 21 to 60 years of age. The interest rate varies from 11.85% to 14.70%. The maximum loan amount which can be available for urban areas is between 24000 to 10 Lacs. The rural or semi-urban areas can avail up to Rs, 10,000 to 10 lacs. The loan tenure period is valid for up to 48 months.
2. ICICI bank personal bank loan
ICICI bank offers personal loans to its customers at very attractive interest rates. The interest rates are as low as 10.99% annually and can go up to 17.99% annually. The individuals aged between 23 to 28 years of age can avail personal loans and the self-employed can obtain loans from 25 years to 65 years. The loan amount offered for personal loans is up to Rs 20 lacs and an additional processing fee of 2.5% is charged on the loan amount with GST. The prepayment charges for a personal loan are only 5% of the personal loan with an outstanding amount with added GST. The loan tenure period offered for personal loans ranges from 12 to 60 months. You can use the personal loan amount for any purpose and it is easy, instant and hassle-free top obtain ICICI personal loan online with the successful personal loans application.
3. HDFC Personal loans
HDFC is a leading private sector bank which offers personal loans on Afinoz app at affordable prices. You can take a loan amount up to 15 lacs for a tenure of 12 to 60 months. The processing fee is barely 2.5% of the loan amount. They have approved loans at a rate of 15.6% to 20.99% per annum.
4. The Kotak Mahindra Personal loans
Kotak bank offers personal loans to both self-employed and salaried people. The interest rate for a personal loan ranges from 10.99% to 24% per annum. The individuals need to be between 21 to 58 years to avail personal loan benefits. The maximum loan amount they can avail for is 15 lacs. The loan processing charges are additional at 2.5% of the loan amount with added GS. The loan tenure is available up to 60 months. The loan prepayment charges are applicable after 12 months at a 5% foreclosure charges with added GST. Kotak requires no security or collateral for approving the personal loan after successful documentation is done.
5. The Axis Bank Personal Loan
Axis Bank also has the facility of a personal loan with great interest rates and a flexible loan tenure period. The interest rates are 15% to 24% with a low processing charge of 1.5% to 2% and added GST. The Income required for an individual to avail personal loans is 15000 per month and they can avail a loan from Rs 50000 to 15 lacs. The loan tenure period is given up to 60 months. The prepayment of the foreclosure charges is nil for personal loans.
6. Citibank Personal Loan
Citibank person loans are available for the self-employed and the salaries people as well at attractively low rates. Their interest rate is 10.99% to 17.99% per annum. The individual can avail a loan amount up to 30 lacs. The processing fee is minimum at 3%, with a loan tenure period up to 5 years.
7. Bajaj Finserv Personal Loan
Bajaj Finance is the most popular Non-Banking Financial Company (NBFC) which offers a wide range of financial services. It offers personal loans at a very competitive rate. The interest rate is only 13.99% to 16%, and a processing fee is from 2.2% to 3%. The individuals need to be aged between 25 to 58 years to avail personal loans, and their minimum income should be Rs.30,000. They can avail a loan amount up to 30 lacs.
8. Bank of Baroda Personal Loan
The Bank of Baroda also offers personal loans to individuals aged between 25 to 60 years. Their maximum loan amount is up to 10 lacs for the tenure of 4 years. They charge a processing fee of 2%, and its interest rate ranges from 11.60% to 16.60%. The pre-closure charges are 6% within the first 6 months, and after 6 months there are no charges.
9. Standard Chartered Personal Loan
The Standard Chartered Bank is one of the best personal loan providers in India. The bank offers a personal loan up to 30 lacs for all individuals between 23 to 58 years, whether self-employed or salaried with nil pre-closure charges. Their processing fee is minimal at 1%, and the loan tenure is available for 12 to 60 months.
10. Tata Capital Personal Loan
Tata Capital is one of the top leading Non-Banking Financial Company (NBFC). It provides personal loans with a processing fee of 2% only. All people between 25 years to 65 years, be it self-employed or salaried are given a loan amount up to 25 lacs with a loan tenure of 12 months to 84 months.
These are some of the best personal loan lenders who provide personal loans at attractive rates and are quite competitive. These lenders do not require any collateral or security for loan approval. They need the documents to be correctly submitted and the online personal loan forms filled up duly to process the personal loans instantly. The individual needs to be eligible to get approved for a loan successfully. The Afinoz app is known to be the easiest app to use and is known to be quite popular among users.