Personal Loan

How to Get an Instant Personal Loan at Piramal Finance?


What is a Personal Loan?

Are you finding it difficult to fund your expenses? Well, if yes, you have landed in the right place. You can apply for personal loan online with minimal documentation and zero security or collateral. Before you do so, it is necessary to understand what a personal loan is and how you can get one.

A personal loan is an amount that a bank sanctions without any security or collateral. This loan needs minimal documentation, making it easy for anyone to get personal loan. You can use the approved loan amount for any purpose.

You must pay the loan amount back according to the terms set forth by the bank, like any other loan. The easiest way to repay is through EMIs. The repayment through EMIs can be done in a few months or years, along with some amount of interest paid per annum.

What is the Purpose of a Personal Loan?

A personal loan is used for various purposes. A few of them are listed below:

  • Repay previous liabilities or debt.
  • Pay for home renovations.
  • Plan your dream wedding.
  • Pay for medical treatment.
  • Finance your children’s education.
  • Buy a gadget.
  • Fund a holiday, etc.

How Does a Personal Loan Work?

Personal loans are almost the same as other types of loans. Follow these steps if you wish to get an instant personal loan:

  • You may apply for a personal loan online by filling in your basic details.
  • Submit the necessary documents.
  • The bank checks your creditworthiness.
  • Based on your creditworthiness, the bank makes a loan offer.
  • If you accept it, the bank disburses the loan amount into your bank account.
  • You can use the loan amount as you wish.

Once the bank transfers the loan amount into your bank account, the interest cycle begins. In general, you repay the loan in easy and equal monthly instalments (EMI). This often depends on factors such as tenure, loan amount, and interest rate.

How to get an instant personal loan at Piramal Finance?

Follow the steps to get an instant personal loan at Piramal Finance.

  1. Visit the official website of Piramal Finance.
  2. Click on the “Personal Loan” tab at the top of the home page.
  3. Scroll down the page till you find the “How to Apply” heading.
  4. Select the “Click here” option.
  5. Fill in all the requested details in the form. Fill in the correct captcha and mark the box for the privacy policy. (You may also read about the privacy policy if you wish.)
  6. Press the “Submit” option present at the bottom of the form.
  7. A relationship manager at Piramal Finance will contact you.
  8. The relationship manager will guide you through the whole application procedure.

Who can apply for a personal loan online at Piramal Finance?

A few eligibility criteria apply if you wish to apply for personal loan online. Read on to learn the criteria in detail.

  1. Salaried individuals working in the following areas may apply:
    • Government Institution
    • MNCs or related companies
    • Partnership Firms
    • Proprietorship concern
    • Private sector
    • Public sector
  2. Age Requirements.
    • 21 years to 60 years
  3. Income Terms.
    • A monthly salary of Rs. 25,000 or more.
  4. Work Experience Condition.
    • At least six months of experience in the present organization.

Features and Benefits of Personal Loans at Piramal Finance

Reading about the features or benefits of getting a personal loan is necessary. Primal Finance offers you the following benefits if you wish to get an instant personal loan:

  1. There are no fees for early repayment or foreclosure.
  2. Loans start from 1 lakh to 10 lakhs.
  3. Minimal documentation.
  4. Quick sanctioning and disbursals.
  5. Easy monthly EMIs.
  6. Flexible tenure of repayment from 1 year to 5 years.
  7. Combining incomes to increase loan eligibility.

Paperwork Required to Get a Personal Loan

You must be aware of the necessary documents required to apply for a personal loan. The documents necessary to get an instant personal loan are listed here:

  1. PAN Card (Mandatory)
  2. Identity Proof (any one of the below)
    • Passport
    • Driving License
    • Aadhaar
    • Voter’s Identity Card
  3. Address Proof (any one of the below )
    • Registered Leave and Lease Agreement
    • Passport
    • Driving License
    • Aadhaar Card 
    • Voter’s Card
    • Telephone/electricity bill, etc. (less than 3 months old)
  4. Income proof
    • Latest month’s salary slip
    • Bank statements that are not more than three months old

Interest Rates and Charges

Before applying for a loan, it is important to get the details on the interest rate and charges. Check the interest rates of Piramal Finance’s personal loan below:

  • Interest rates start at 12.99%* per annum.
  • There are no fees for early repayment or foreclosure.
  • Visit the Piramal Finance website to learn about the fees and other charges to get a personal loan.

Wrapping up

Getting a personal loan from Piramal Finance has many benefits. You do not have to pay any foreclosure charges, and there is zero prepayment. You can get a personal loan starting from Rs 1 lakh to Rs 10 lakh. EMIs are set with your ease in mind. So why are you still waiting? Apply and get a personal loan right away, or call 1800 266 644 to learn more about how to get an instant personal loan from Piramal Finance.