Personal Loans in India Apply Now
Best way to fulfill your short to medium term financial crunches is to avail Personal Loan. Personal Loan in India Delhi Noida is the best way to meet your current financial needs without giving any security (collateral free). Personal Loans in India is commonly used for holidays, small debt consolidation, certain unseen expenses, family functions. The prime benefit of Personal Loan is that it is a loan with lower tenure i.e. 12 to 60 months mostly. The best suitable way to maintain your normal cash flow at the time of crunch is Personal Loan.
The reason Personal Loan is most common now a days is:
- Very Less documentation is required
- End use of Loan is very flexible
- Loan Process is not lengthy
Use of a Personal Loans in India
As already mentioned Best and Cheap Personal Loan can be used for a many purposes, like:
- For fulfilling wedding Expenses
- For meeting Holiday expenses
- For buying a gadget
- Renovation of House
- To meet small expenses of your Business/ Profession
Eligibility Criteria for Personal Loans in India
Any Indian person whether is salaried or professional or self-employed is eligible for Personal Loan. Though, No security is required, the financiers make it sure that there are not high chances of risk with their financing. To make certain the above, they examine the repayment capacity after considering the below mentioned points like:
- Earning Capacity: Applicant must be earning monthly minimum salary as per financier stipulated repayment capacity.
- Working experience: Applicant must be under current employment/profession/business for a certain stipulated period.
- Age Limit: Applicant must fulfill the minimum and maximum age requirement of Financier.
- Credit Rating Check: Every Financier has their specific credit score and applicant must fulfill that with a smooth credit history.
- Existing EMI's: If applicant is having any additional debts then his ability to take such additional debts is examined.
Check points before applying for Personal Loans in India:
Personal loan helps you to meet almost all your financial requirements but to ensure better quality you must check below points before applying for a personal loan.
- Eligibility Criteria: Examine your eligibility as per the eligibility criteria of different banks.
- Processing Time of Loan: To know exact Processing Time is very much relevant.
- Loan Amount & Tenure: Carefully select your Loan Amount by analyzing your income and repayment capacity.
- Documentation: Make sure to arrange all the documents required before applying for a personal loan.
- Rate of Interest with File charges: Select that Bank which offers minimum Interest Rate and other charges.
- Foreclosure: Also ensure the Foreclosure Policy of Bank and related charges.
Personal Loan Interest Rates in India
Though Personal loan is easily available but it carries a huge amount of interest rate approximately starting from 11.49%.The exact rate of interest varies on the basis of your Personal Loan credit worthiness, Personal Loan Tenure, Personal Loan amount etc. from specified Bank to Bank.
Documents Required for Personal Loan in India
The lists of essential documents you need for a personal loan are:For Salaried/self-employed individuals:
- Duly filled and signed application form
- Passport Size Photographs
- Identity Proof: To apply for a Personal Loan submit one of the following documents as identity proof:
- Aadhaar Card
- Voter's ID Card
- Employer issued ID card
- Driver's license
- Ration Card
- Electricity bill
- Title deed/utility bill/municipal tax receipt
- PAN Card(mandatory)
- Life Insurance premium receipt
- Proof of Age: List of documents that are accepted for age proof to apply for Personal Loan are:
- Birth Certificate
- Secondary school certificate (Class 10)
- PAN card
- Aadhaar Card
- Voter ID card
- LIC Policy or premium receipt
- Ration card
- Address Proof: For address proof confirming your present residential address, submit any one document from the list:
- Government-issued employee residence proof
- Ownership and title deeds of property
- Telephone bills
- Ration card
- Electricity bill
- Income Proof - For salaried individuals:
- A copy of latest salary slips (3-6 months depending upon the bank) or (salary certificate)
- Form 16 and a copy of ITR for the last two years
- Copy of the appointment letter or an employment certificate to prove job continuity
- Last 3 months' salary account statements
- For Self employed/ professionals:
- Last two years' computation of income, Profit and Loss statement, and balance sheet certified by a C.A.
- Latest six months' bank statement of all your bank accounts
- Last two years' sales and copies of acknowledged IT returns as proof of turnover
Why should you choose Afinoz for your Personal Loan assistance?
- Free of Cost Best Personal Loan Service in India Noida Delhi
- At Afinoz, as a customer you don’t need to pay anything to us. We hereby breaking the broker’s chain and thus reducing your cost to almost nil.
- One time online application to multiple lenders saving time up to 90%
- By using Afinoz you have access to multiple lenders at same time, compare them and apply wisely. This saves your time almost up to 90%.
- E signed & e-verified KYC documents
- We at Afinoz provide you the facility of e-signing. We also provide e-verification facility of your kyc documents which ultimately reduces the processing time of Loan.
- Less human intervention, less frauds
- At Afinoz we provide you a virtual place which involves less human intervention and thus risk element related to Frauds get eliminated.
- Instant Approval of your Loan*
- At Afinoz we aim for instant approval for your Loan from the appropriate lenders. This ensures fulfillment of your immediate need and also helps in saving of your valuable time.
- Assured Cash Back and Incentives*
- We at Afinoz are not only looking for a prompt services but also we offer time to time cash back and other incentives which is an additional aid to your pocket.
- Prompt support services
- We at Afinoz provide you the prompt support service in case you find any difficulty while using our services. We help you in finding a right lender for you and in availing Loan.
- Documents repository services for future loan applications
- At Afinoz we provide you a repository service for your documents. Your documents are safely stored with us and you can use them instantly for future purposes.
Afinoz is happily here to always help you find a Personal Loan
At Afinoz, we provide you an online platform where you can apply for Personal Loan online. Here you get multiple Banks and other financiers providing Personal Loan. You can simply compare and apply hassle free without paying any cost. Afinoz is an online portal available 24 X 7 to the internet friendly customers. It is a virtual online market place facilitating easy buying and selling of finance products like Personal Loan.
EMI Calculator for Personal Loan in India
EMI calculator for Personal loan is very useful for analyzing your Loan requirement. Personal Loan is very simple loan and does not involve any complexities, but at the same time you need to be assured about your eligibility and capability and here EMI calculator for Personal Loan helps you.
- EMI Calculator for Personal Loan helps in finding: applications
- Personal Loan amount you would borrow
- Interest amount you would pay
- Eligible tenure for your Personal Loan
- Total amount you will have to repay
Calculate EMI on Your Personal Loans in India
It is important to know the budgeted EMI for the loan you are planning for. The Loan you are availing must provide the capable EMI as per your repayment capacity. The EMI calculator for Personal Loan helps you in finding the EMI and thus ensures that you are not over budgeted and your repayment capacity is not challenged.