About Personal Loan in Delhi NCR
Personal loans are an unsecured form of credit that is popular to meet immediate requirements. It is multi-purpose in nature and therefore can be used for various purposes including wedding, home renovation, travel purposes and more. Moreover, there is no restriction for the amount borrowed and can be used for any purpose they want. In fact, a personal loan can help you build your credit faster when compared with other forms of credit. This is because of the risk it carries due to being unsecured.
Purpose of Personal Loan
- Marriage, Holiday, Medical, education, pay off higher loan of credit cards etc.
- Buying Consumer Durables like TV, Fridge
- House extension, Repairs
- Help you build or improve your credit by adding another line of credit to your credit report. Your lender will report your monthly payments to the three credit bureaus—Equifax, Experian and TransUnion
Interest Rates
- Salaried Personal Loans starting at 10.50%*
Documentation Required for Salaried Individuals
- Aadhar / Passport / Driving Licence / Voter ID
- Address proof
- PAN
- Passport Size Photograph
- Bank Statements of Salary Account for Last 6 Months
- Salary Slip for Last 3 Months
- Form 16 Last One year
- Employee ID Card
Who is eligible for Personal Loan?
- Salaried Employees
- Salaried Director of Company Holding less than 10% shareholdings
- Self Employed Professionals
Some key benefits of Personal Loans?
- While business loans and property loans need collaterals. A Personal loan unlike these loans requires a person to have a decent credit profile against which credit is given.
- There is no requirement of multiple documentation and one needs not visit branches to submit physical documents for personal loans.
- A Personal Loan is quick and one needs not wait for a long time to get the loans processed. These days the entire process is online and transparent.
- A Personal Loan is not bound by a purpose and one can use the loan amount for any requirement as one needs.