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Features and Benefits of Personal Loans

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  • ► Personal loans come with no restrictions on how the funds are used.
  • ► The loan amount can go up to Rs. 40 lakh, or even higher based on the discretion of the lenders.
  • ► Repayment tenure ranges from a minimum of 3 months to a maximum of 5 years, banks/NBFCs offering longer durations.
  • ► Minimal documentation is required to apply for a personal loan.
  • ► Quick disbursals ensure fast access to the funds.
  • ► Individuals with excellent credit profiles may qualify for pre-approved or pre-qualified personal loans, which come with instant disbursal.

Personal Loan Disclosure

A Personal loan is unsecured loan that can be taken for various reason like travelling, education, emergencies etc.

  • ► APR(Annual Percentage Rate): vary from 10% to 35% based on customer profile and credit score.
  • ► Repayment Period: 12 Months to 60 Months
  • ► Processing Fee: For Personal loan it vary from 1 to 4% of the loan amount plus GST. example for personal loan upto 2 lakhs the processing fee with 1% interest will be Rs 2000 to Rs 4000 + GST depending upon the lenders policy
  • ► Pre-Payment Charges: prepayment option may apply or not it is depend upon lenders . if applicable then it will be 0-4% + GST

  • Representative Example:For the loan of Rs. 5 lakh at the rate of 10% with repayment tenure of 5 years, your EMI will be Rs 10624/-. The total payable amount at the end of 5 years will be Rs 637411. Therefore, your total payable interest amount will be of Rs 137411.

Eligibility Criteria for Personal Loans

  • ► Age: 18 - 60 years
  • ► Income: Minimum Rs 15,000/month for salaried applicants
  • ► Credit Score: Preferably 750 and above as having higher credit scores increase the chances of your loan approval at lower interest rates
  • ► Eligible only for individuals receiving their salary in a bank account

Documentes needs for Personal Loans

  • Proof of Identity for Salaried Individuals Passport, Voter’s ID, Driving License or PAN Card and for Self Employed Passport, Voter’s ID, Driving License or PAN Card
  • Proof of Residence for Salaried Individuals Passport or utility bills and for Self Employed Passport or utility bills
  • Proof of Income for Salaried Individuals Bank statement of salary account for the past two years for Self Employed Audited financial statement of the past two years

Personal Loan Details & FAQ

Personal Loans of up to Rs.20 lakh interest rates starting at 10% p.a. with tenures of up to 5 years. The processing fee will be in between 0% and 3% of the loan amount.

Description Charges
Interest Rates 10.25% P.A Onwards
Loan Amount upto 25 Lakh
Loan Tenure upto 6 years
Processing fess 0% - 4% of the loan amount + GST

Details About Company Rules

Fees & Charges

  • Processing fee
  • Goods and Services Tax or GST
  • Verification And Other Charges

Prepayment

  • As we know that a personal loan is given for a time period and this period is know as loan repayment period .Once you have taken a loan then you are suppose to pay the debit off by the end of loan repayment period through EMIs. However after taking a loan you have decide to pay off your debt before the end of loan repayment period then it is called pre-payment

Repayment

  • There are various mode of repayment are available like ECS, PDC.

Personal loan Disbursal

  • Disbursal is basically the process of the financial institutions to transfer the loan amount in the bank account of the customer.

How To Apply Personal Loan

  • If you want to apply for personal loan you have to go through following steps. The application process is very clear and simple .

    • ► Apply online by filling the form using your details like employment history, financial details, email etc.
    • ► Choose the loan amount and repayment tenor.
    • ► Once details submitted will check and verify your details.
    • ► Our executive will get in touch of you.
    • ► Disbursal of your loan within 24 hours of approval.

    Representative Example:

    For the loan of Rs. 10 lakh at the rate of 10.25% with repayment tenure of 5 years, your EMI will be Rs 21,370/-. The total payable amount at the end of 5 years will be Rs 2,82,216. Therefore, your total payable interest amount will be of Rs 12,82,216.