Personal Loan

How to avail low interest rate on personal loan in Gujrat


Gujarat is one of India’s most developed and developing states. What comes to your mind when you hear its name? Apart from Modiji, of course. Business? You are right. However, Gujarat is not only about business. Apart from cities, and far from them, it has forests, deserts and beaches. Home to various communities, you would see festivals all around the year. It has an incredible historical heritage. It has all that you can take a personal loan for. Moreover, surprisingly, Piramal offers you these at interest rates as low as 10.5%.

Therefore, you don’t have to worry about losing much from your working capital while repaying for home renovation. You can still carry out your business smoothly. This article makes you aware of the scope of personal loans in Gujarat and the ways to avail of them at low interest rates.

What is a personal loan?

In contrast to loans where security is required, personal loans are offered to borrowers based on their creditworthiness. Applying for a personal loan just requires a minimal amount of paperwork. A personal loan does, however, have higher interest rates than other types of loans. Personal loan interest rates are predicted to vary from 8% to 30% annually.

Types of personal loans

You can expect huge benefits from taking a personal loan in Gujarat if you have recently shifted to cities like Rajkot, Surat, Vadodara, Jamnagar, Morbi, etc. But, before taking any loan, you must know if it suits your requirements/needs.

A. Home Renovation Loan

Cities like Rajkot are even costlier than Ahmedabad when it comes to buying or renting a home. If you have already taken a housing loan here, the renovation might be heavy on your pocket. You must consider taking a home renovation loan from Piramal at 10.5%

B. Travel Loan

A vacation home or resort near Gir Forest or a beach in Dwarka can be costly. But why compromise on a holiday if you can take a cheap personal loan for travel? Piramal Finance provides insurance along with the loan.

C. Medical Loan

Gujarat has all the hospital chains like Wockhardt, Apollo, Sterling, etc. The soaring prices of beds and medicines is scary. If you do not have health insurance and emergency funds, which everyone should have, you can take a personal loan to fulfil your medical requirements.

D. Wedding Loan

Destination wedding sites are seeing a spurt in Gujarat, especially in Junagarh. You might have dreamt of a wedding where the pre-wedding shoot takes place near waterfalls and the reception at a resort. But why limit the number of guests if you are eligible for a personal loan?

E. Festival Loan

Whether it is Eid-ul-Adha or Bestu Baras, you can’t stop yourself from participating in a festival in Gujarat. Festivals like Diwali can be expensive if you want to celebrate full-fledged. If you cannot afford these expenses, a Festival Loan can help you celebrate while delaying your expenses. Piramal provides personal loans at a minimum 10.5% interest rate.

Features of a Personal Loan

  • Piramal provides personal loans with zero pre-payment and foreclosure charges.
  • A loan of more than Rs1 lakh and less than Rs10 lakhs falls under a ‘Personal Loan’.
  • Minimal documentation is required.
  • Sanction doesn’t take much time, and disbursals are instant.
  • Monthly EMIs are not more than your monthly budget.
  • A flexible repayment tenure from 12 to 60 months is allowed.
  • Piramal Finance helps improve your loan eligibility by allowing the clubbing of incomes.

Are you eligible for a Personal Loan in Gujarat?

If you are one of the following, you can get a personal loan in Gujarat for lower interest rates.

A. Salaried Employees

A person who has a job in a Government Institution, Private Sector, Public Sector, MNCs, Partnership Firm, or, Proprietorship Concerns must have:

  1. Age: Between 21 and 60 years
  2. Work Experience: More than or equal to 6 months
  3. Income: At least Rs 25,000 per month

B. Self-Employed

Professionals like an architect, a doctor, or CA and non-professionals like Business Owners, Partners, Proprietors, or Promoters/Directors in private and public limited companies can apply for a Personal Loan in Navi Mumbai – Belapur CBD. Their age must be more than 23 and less than 70.

How to apply online for a personal loan?

Piramal Finance has made it easier for even a layman to get a Personal Loan in Gujarat:

  1. Visit the website of Piramal Finance and choose ‘Personal Loan’ from the main menu.
  2. Select ‘How to Apply’ from the article marker or scroll down to find the same title.
  3. Click the link in the ‘How to Apply’ paragraph and discover a dialogue box. It is a form titled, ‘Quick Apply’.
  4. Fill out the compulsory details and enter the Captcha (Are you a robot?).
  5. Go through the ‘Website Usage and Privacy Policy’ before checking/ticking.
  6. Submit your application and get in touch with a Relationship Manager.

The Conclusion

The lengthy process of applying online for a Personal Loan in Gujarat from Piramal Finance is explained in this blog. It also clarifies the significance of other loans besides personal loans that one may obtain. Piramal also specialises in loans for homes and home-related purchases. The greatest NBFC is one that helps beginners get loans or at least learn about the loans for which they may qualify. One that offers a user-friendly platform to ask for money. A library of loans rather than a lender!

If you want to learn more, visit Piramal Capital & Housing Finance Ltd. if this article or blog has persuaded you enough. They offer a hand to hold forever rather than a loan of cash.