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Now apply for a Personal Loan online, All you need to do is provide your details below application form.

About Personal Loan

Personal loan is a popular financial loan instrument providing assistance for any immediate financial need.

Personal loans are non-collateral loans offered by almost all public sector banks and private banks to leverage any financial crisis. Quick approval with minimal documentation and loan disbursal as quick as one day makes personal loan a widely popular financial instrument.

Wide quantum of loan amount, flexible loan tenure and easy availability makes personal loans a viable financial instrument for people of all financial backgrounds when faced with a financial crisis.


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Features of Personal Loan

  • They are secured advances.
  • Collateral is usually the property that is being funded. Existing property can also be put up as security.
  • Personal Loan interest rates are lower when compared to unsecured personal advances.
  • The advance can be used to fund property for residential or investment purposes.
  • Amounts offered are higher than under other types of loans; up to 85% of the property value.
  • Repayments are made in EMIs (Equated Monthly Instalments).
  • Pre-payments are allowed, to reduce liability.
  • They are long-term in nature; tenors usually vary between 5 - 30 years
  • Non-interest charges include processing fees, pre-payment charges, inspection fees, documentation fees etc.
  • They qualify for tax benefits as per provisions of the IT Act, 1961 (subject to changes).
  • Personal Loan - Eligibility

    Any salaried, Corporate and Private companies, Government sector employees including Public Sector is eligible for a personal loan.

    Age

    Maximum age of applicant at loan maturity: 60 years

    Income

    Minimum Net Monthly Income: Rs 20,000

    Credit Rating

    Applicant should have the bank specified credit score.

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