Personal loan have a shorter repayment tenure ranging from 1-5 years. Depending upon the individual applicant's profile and lender, the APR (Annual Percentage Rate) of a instant personal loan may vary from 11% to 35%. Personal loan is a short to medium term loan to meet your immediate financial needs. Personal Loans are a form of unsecured loan and require no collateral. The funds can be used to meet your needs for debt restructuring, marriage, holiday expenses, home renovation etc, but the funds can be used to cover any financial need.
Personal loan interest rates start from 10.75% onwards and the tenure extends from 2 years and more. The exact interest rate depends on the profile of the customer and varies with loan amount, credit history etc.
Planning to go for your dream vacation? Or you need to buy that latest sports bike? Unforeseen financial issues and unexpected expenses can come up at any point in time. Therefore, to deal perfectly with all the financial requirements, taking a personal loan is a suitable option to go with. If you take an instant personal loan online, there will be no limit on the usage of the borrowed amount. So, no matter you need to organize a family function, fund your child’s education or need to manage the medical expenses, a personal loan can be a great help in managing all your concerns smoothly. A personal loan can easily be acquired with a lot of added benefits and features. Moreover, there is no need for you to show up any collateral and get instant access to the funds required.
A personal loan is a loan that is categorized as unsecured funding, in which there is no requirement of providing any collateral or any sort of security. This security is demanded to help the applicant for your instant needs. It is a flexible kind of funding and so it can easily be utilized for several different including wedding, home renovation, financing your Childs education, for travel purpose and more. Furthermore, there is no constraint for the amount of money you have access to and no one questions you that for what reason you are planning to take a personal loan. In fact, this sort of funding can also lend you a hand in creating a good credit score faster when compared with other forms of credit. This is due to the high risk it holds because of being unsecured in nature, as it is considered beneficial for the borrower and less advantageous for the specific lender as no security is involved.
Personal loan entails various features and benefits. Below are some beneficial factors-
No collateral RequiredOne of the best advantages which are linked with an instant personal loan online is that it is of unsecured nature. This means that the applicant is not required to show any sort of collateral to the bank. Basically, the borrower is free from providing clarification for why he needs to have access to funds through an instant personal loan online or to show up any security to the loan provider. The applicants can easily get hold of an affordable personal loan easily if you meet the eligibility requirements, and have a good and strong CIBIL Score.
Minimum DocumentationThis is the next major feature of a personal loan, as most of the people dislike submitting a pile of documents, and therefore because of the digitalization, this procedure has been turned easy as now very minimal documentation and authentication is done. The entire procedure has been turned simple and digitalized. Therefore, offering the customers with another benefit of getting access to required funds through a personal loan.
Fast loan approvalA personal loan is offered by most of the banks and even the non-banking finance companies (NBFCs) but with diverse eligibility terms and conditions. On the other hand, there are a few points that are similar to all the financial institutions and banks. Therefore, to get access to funds through an instant personal loan, the candidate is required to fulfill these necessities. Adding more to this point, it is suggested to check your eligibility before applying for a personal loan.
A personal loan is offered by most of the banks and even the non-banking finance companies (NBFCs) but with diverse eligibility terms and conditions. On the other hand, there are a few points that are similar to all the financial institutions and banks. Therefore, to get access to funds through an instant personal loan, the candidate is required to fulfill these necessities. Adding more to this point, it is suggested to check your eligibility before applying for a personal loan.
Age | 23/24 years - 60/65 years |
Employment Type | Salaried / Self-Employed professionals |
Credit score | 750+ or with a good credit or cibil score history |
Minimum Net Income (Monthly) | 15,000(non-metro cities / 20,000( metro cities) |
Loan Amount | Up to 40-50 lacs depending on the credit profile and the applicants profile. |
Work Experience | Salaried / Employed at current company for at least 6/12 months / Self-Employed / Business tenure of at least 3 years (continuous) / ITR of last 3 years |
The common documents which are required for an online personal loan approval are given below:
For Salaried Individuals
For Self-Employed Individuals
Login2loan endows the customers with a massive pool of options in association with some of the Major Banks and non-banking finance companies (NBFCs) so that they could get an extended tenure to pay back the loan amount on their loan at a suitable home loan rate of interest. This is done to assist in settling on the easiest monthly installment option on the home loan funding. Login2loan’s web-based EMI calculator actually assists the customers to determine the equal monthly installments that require to be cleared every month against your housing loan.
The online EMI calculator available at Login to Loans gives perfect calculations and offers the customers with a variety of bendable installment offers, which are based on the applicant’s profile as well as the tenure of his loan. Our team of experts also offers several options to shift the existing funds for a Home loan at highly affordable interest rates. We, also have different plans that are specially created for the clients who are the non-resident Indians at some special prices with maximum loan payback tenure of up to 30 years.
With us the whole procedure to apply for a home loan is simplified and with minimum documentation we help you get the best option on your housing loan. Our whole process is digitized enabling us to serve you quicker and with optimum transparency. Additionally enabling you to compare and choose among various available schemes with lowest home loan interest rates.
The illustration below indicates what to expect at every step during the loan evaluation process. It helps understand how the credit decisioning works in banks and the steps they take before deciding to accept or reject a loan/ credit card.
Fill in the Personal Loan Application Form, to check your eligibility.
Compare various Personal loan options, and apply for the suitable option.
Get an instant e-approval, after successful submission of the application.