Applying for personal loan? Know the process here.

Personal loans are the most popular loan amongst the people because these do not require any collateral for disbursing the amount and furthermore, the process is very efficient & swift. Under the right circumstances you can get a loan amount as high as 24 lacs within a span of just a day. Such is the lucidity & effectiveness of the loaning procedure. Thus the term instant personal loan is on the lips of the people. You can avail an unsecured emergency loan online for medical & financial emergencies. You can also use these to solve other affiliate cash crunch situations like higher education, bill payments, vacation, wedding and shopping.

Apart from Banks and NBFCs, there are many online money lending portals that offer some of the best personal loan schemes. Borrowing immediate funds, option for pre-pay during down payment, interest payment based on EMI, one time interest payment on principal at the tenure end and other exclusive loaning features are available on these platforms. By opting for these firms you can systematical curtail your EMI to a very minimum amount.

Before we tell you the details of loaning procedure for a personal loan it is better to take heed of the things you need to do before you apply for the same.

·         Firstly, know the eligibility criteria well. Any salaried person or working professionals with consistent income source between 25 to 58 years of age with valid documentations can apply for a personal loan. You can also check your eligibility on the customized eligibility calculator of the lending platform.

·         Secondly, know the rates and charges. Remember that every lending platform that doles out personal loan in Delhi has different interest rates and the service charges are also very variant. So go through the rules & regulation of the lending platform, compare the rates & charges of different firms and then finalize on your final pick.

·         Thirdly, make sure you have a clear picture of what EMI you have to pay and what will be the repayment plan & timeframe for the personal loan.

·         And finally, you will need to know the process of applying for the personal loan which follow

1.      Filling up your personal, employment and financial details.

2.      Selecting the loan type, loan amount, loan scheme, and loan tenure.

3.      Submitting the required documentations.

4.      Approving & receiving the money within a matter of minutes.

So if you want to avail personal loan in Delhi or home loan in Delhi the no need to hassle about. Just know the proper channels & apply. 

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Created on Jun 17th 2019 00:41. Viewed 652 times.

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