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Monday, January 13, 2020

How to get a Personal Loan and buy what you need

Whether it's for your dream wedding or if you need something urgently, Personal Loans are something that can help you get the money you need to buy what you want. You can get a Personal Loan  and ensure that all your monetary needs are met. 

Since Personal Loans are unsecured, you don’t have to produce any collateral to get approval for them. That makes them incredibly useful when it comes to getting a loan approval. 
Even if you are self-employed or if you work for a startup, you can still get a personal loan.
Most importantly, the funds are delivered to you almost instantaneously, so the entire process is quick and easy. 
How To Apply For A Personal Loan ? 
Applying for a personal loan  can be convenient and easy. The pre-requisites are: 

  • You have to be 21+ years old
  • Be a citizen of India
  • Have a regular stream of income. 
Make sure that you’ve been living  for at least a year. You also have to be working in a company or startup for at least the last 3 years.
You need to show proof of stable income if you are salaried. The same applies if you’re self-employed.
The minimum salary required to get a personal loan varies depending on the bank that you choose. So, try and find a bank that can cater to your particular salary bracket. 
In cities, the minimum amount salary can be higher and when compared to rural areas. 
You also need to make sure that you go through the documents checklist on the website of the bank before you apply for a personal loan. This ensures that you have all the documents in hand before you step into the bank. 
You’ll need proof of residence, identity proof, and proof of wages. Any other documents required will be mentioned in the documents checklist.
Additionally, you also need to make sure that you’ve got a good credit before you take up a loan. This can not only increase the approval chances, but also help you bargain for a lower interest rate. 
The benefits of getting a Personal Loan  
Some of the benefits of taking a personal loan from Nasik are the high amounts you can get. This can range from Rs.50,000 to Rs.40 Lakhs. You can also get loans without having to put forward any collateral or assets. 
You can get personal loan for your wedding, debt consolidation, medical needs, and so on. You can also pre-close the loan without any pre-closure charges. But there are some banks who charge up to 4% to 5%.
The best part about getting a Personal Loan  is that your loan application gets instantly approved, provided it meets the eligibility criteria. After that, you get your money within a 72-hour time window. You don’t need any co-applicants to get a Personal Loan. 
When you apply for a personal loan you get an online account which helps you keep track of the loan amount repaid, tenure, and interest rates. This lets you know all the information about the loan whenever you need. This lets you plan your finances for each and every month. 

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