The banking industry underwent a revolution with the advent of computers and the internet. And just like that, automation once again made lives easier. Gone are the days when you had to stand in a line outside your bank branch to get things done. Now, you can deposit or withdraw money from your account with the touch of a button. Similarly, the process of applying for a loan has become a breeze.
All banks and financial institutions offer personal loans that are unsecured. This means that you do not have to provide collateral for such loans. These loans are perfect when you are in urgent need of some cash. Online application and minimum documentation requirements have now made it quite easy for you to apply for a personal loan online.
A personal loan is a good option to meet your short-term cash needs. Here are a few reasons why you can apply for a personal loan online:
- Sudden medical emergencies: Medical emergencies can never be predicted. Especially in times when people are falling ill more often, you may require it now more than ever. Many health insurances do not cover certain medical conditions. If you find yourself short on cash during a medical emergency, a personal loan online can be your best option.
- Business expansion: If you are planning to expand your business but are short on capital, you can apply for a personal loan. Also, these loans do not require collateral, making them more suitable. Low-interest rates on these loans make them easier to repay as well.
- Marriage expenses: Sudden marriage expenses can be quite difficult to handle. Weddings are a happy occasion and something to remember for years. If you do not want to compromise on the big day, a personal loan online can help fund your requirements.
- Home renovations: Sudden home improvement or renovation projects can put a dent in your savings. Instead of using your savings, you can opt for a personal loan online. Choose the required amount and the tenure, and your loan will be converted into easy-to-pay EMIs.
- Consolidation of debts: If you have many loans outstanding, you can apply for a personal loan to pay them off. It may be easier to pay one EMI a month. Also, personal loans have a lower interest rate than other loans, making them more practical.
Personal loans are a great financing tool for you. However, you need to choose the right lender for a positive experience. If you are looking for the best personal loan in India, it has to be Piramal Finance. We are one of the leading finance companies with a focus on good customer experience.
Here are the top 5 reasons why you should opt for a personal loan online from Piramal Finance:
- Zero pre-payment and foreclosure charges
Finance institutions that provide low-interest rates on personal loans often have a lot of hidden fees and charges. Also, they charge a huge fee if you want to close the loan earlier. Piramal Finance understands that every penny counts. If you choose to pay off your personal loan sooner, we will not charge you for that. That is why we offer zero pre-payment and foreclosure charges. By choosing to pay off a loan earlier than your tenure, you can save on interest charges. It leads to an increase in your credit score.
- Minimum documentation processing
Some financial institutions may require you to submit many documents other than income proof or bank statements. Often, this can delay the application process. With Piramal Finance, you do face this issue. We provide instant loans with minimal documentation. If you have a good credit score, we will accept your application. Also, quick sanctions and instant disbursal of loan amounts help us provide one of the best personal loans in India.
- Pocket-friendly monthly EMIs:
One of the important factors of a good personal loan online is the EMIs. Your EMIs will be part of your monthly income for the duration of the loan. Hence, they should be easier to pay off. At Piramal Finance, we provide you with the option to adjust your EMI based on your convenience. This makes it easier for you to pay off your loan and improve your credit score.
- Flexible terms of the loan
Emergency financial needs can make you worry. Therefore, it is important to choose a trusted financial institution. You can put your mind at ease when you choose Piramal Finance as it provides one of the best personal loans in India. We provide loans based on your needs, with loans ranging from Rs. 1 lakh to Rs. 10 lakh and a tenure of 12 months to 60 months.
- Clubbing of income for higher loan eligibility
This unique feature of Piramal Finance helps you get a higher loan amount if you have multiple income sources. By providing the right documentation for other income sources, you can be eligible for a higher loan with Piramal Finance. A higher loan amount with an attractive interest rate will help fulfill all your emergency financial needs. If you are looking for higher loan eligibility, apply for a personal loan online with Piramal Finance.
A personal loan needs to be quick and hassle-free. You can choose to apply for a personal loan for different reasons. Always opt for a personal loan online from a trusted name such as Piramal Finance. Our team of experts will help you through the entire application process to ensure fast approvals and disbursals. You can also visit our webpage for eligibility criteria and the personal loan EMI calculator.
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