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Personal Loan

How to Apply for a Personal Loan for Students?

Education and health are two sectors that have seen an increase in expenses post the Covid-19 pandemic. While startups are coming up almost every day to cater to the changing needs of students, especially, the costs are also going up given the increased levels of learning and orientation toward higher studies. This increasing cost of education can prove to be a burden on most Indians. According to a report published by GrayQuest (a fintech company based in India), the average Indian household spends as much as 13% of its annual income to cover its children’s education costs! Given this scenario, a personal loan for students or an education loan is the best resort. And thankfully, it is now much easier to apply for student loans, given the relaxed guidelines by RBI and the increase in the number of NBFCs. [B-01] What is a Personal Loan for Students? By definition, a personal loan is a financial agreement that is arrived at between the borrower and the lender. Typically, the lender proposes a fixed monthly amount over an agreed-upon period to be paid back by the borrower. It is “personal” because only the borrower has the liability to pay it back, and no one else. Pros and Cons of A Personal Loan for Students By nature, personal loans don’t have a stipulated spending ambit. But many lenders prevent them from being used to pay students’ tuition fees. Instead, people apply for a student loan to cover related expenses like house rent or groceries (if students are living on their own) or purchasing books. The top benefits of a personal loan for students include the following: You can get instant liquidity to take care of immediate expenses. You can pay off the loan in easy monthly instalments. You can even build a good credit history. Despite its advantages, a student loan application has its demerits: It has higher interest rates compared to other loans. You are potentially adding more debt burden. Your credit score might be affected in the long run. How to Apply for Student Loans? loan application to help with Recently, it has prioritized a student loan application in order to help with education expenses. Its Model Education Loan Scheme, 2001, is the gold standard for disbursing personal loans for students. It allows the lender – banks or NBFCs – to check the borrower’s creditworthiness. This is important because it helps to ensure that those who borrow money for schooling can repay their debt promptly. In most cases, you as a student might be taking a loan for the first time, in which case you may or may not have a credit score. Under these circumstances, the financial institutions or the lender will check the CIBIL score of your parents, who then become the co-signer for the student loan application. Important RBI Guidelines for Applying for a Student Loan The RBI has carefully drafted guidelines to help with the student loan application process. You should consider these before applying: Merit: The term “merit” is often used subjectively to determine whether or not you are eligible for a personal loan for students. Technically, if you have cleared an entrance exam to a professional course or higher studies, you will likely be eligible. Institution Credibility: The credibility of the institution you are getting into for which you are applying for a personal loan will also determine your chances of getting the loan. The chances are higher if it is a prestigious college or academic institution. Collateral: A student loan application comes in two forms – secured and unsecured. Depending on the approved loan amount, your loan will be unsecured, where you do not have to cite any collateral; or secured when you have to put up collateral. Most lending institutions would demand collateral if the loan amount exceeds INR 4 lakhs. If it is below this amount, collateral will not be required. Moratorium Period: The time period you get to repay the loan and by which time you start repaying the loan is what constitutes the moratorium period. You should check that the personal loan for students you have secured has a moratorium period which only begins after course completion. Typically, one year is the minimum for this. If you opt to start your own company after the course, you might also be eligible for a moratorium during its incubation period. Amount: Personal loans for students come with a loan limit of INR 10 lakhs if you are going to study in India. If you are going to a foreign university, you can apply for a student loan of up to INR 20 lakhs. Tax Exemption: Students can claim tax exemption on the interest paid on student loans. As per the laws in Section 80E of the Income Tax Act, you can claim this as a subsidy while filing your tax returns. There are still other schemes like the Central Sector Interest Subsidy for meritorious students from economically weak backgrounds. Under the latter, you can claim a 100% subsidy during the moratorium period. [B-02] Securing a personal loan for students is thus quite simple and helpful. Remember that lending institutions like Piramal Finance have been set up to help with the progress of education. If you have adhered to the student loan application process to the T, then rest assured that you will be well on your way to fulfilling your life’s dreams.
08-11-2023
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Personal Loan

Personal Loan in Lucknow - Check Eligibility and Apply Online

Lucknow is One of the oldest cities in India. It is sometimes referred to as Nawabo ka Shehar. The city has a strong network of small company owners who trade in fabrics. A personal loan is an unsecured loan that the borrower may utilise for any reason they see fit. Any loan that doesn’t require collateral is known as unsecured. Personal loans are provided by banks, credit unions, and other financial institutions. The bustling city of Lucknow is located in Uttar Pradesh state. It is also the state capital. Therefore, Lucknow is regarded as the most significant metropolises in one of India’s largest states. This means that the city’s economic activity ensures a good climate for all financial organisations. When it comes to creating jobs, Lucknow comes in sixth among all Indian cities. The city has a lot of manufacturing facilities, valuable real estate, and commercial hubs. They justify the presence of the country’s major banks. These banks offer a variety of loans. [B-01] Personal Loan in Lucknow – Online Apply Instant personal loans are the most practical solution in any financial emergency. Applying for a personal loan online involves looking up information on eligibility and documentation requirements and interest rates. Here are some reasons why applying for a personal loan in Lucknow online is very important: You may compare personal loan interest rates across banks. You should do this before applying for a loan. It could get you the lowest interest rate online. Fast loan approval and disbursement are features of personal loans. You must meet the eligibility requirements for an immediate personal loan online. These are pretty simple. Interest rates for personal loans are determined by your income. The ability to repay and credit history are also factors. To be eligible for low-interest personal loans, your total debt must not exceed 40% of your income. There is brief paperwork needed to apply for a personal loan online. But, it is not feasible to apply for an instant loan without any supporting documents. To qualify for low-interest personal loans, this is very necessary. For EMIs, the repayment period for an instant personal loan in India ranges from 12 to 60 months. Without having to wait in long queues at the banks, you may easily choose to apply for one and pay at your convenience. Eligibility Criteria for Personal Loan in Lucknow Job description: Lenders provide personal loans to paid individuals (those working in the public and private sectors), independent professionals, and independent non-professionals. Age: 21 years old when the loan application is submitted. Also, 70 years old when the loan is due. You need to be an Indian resident. You need to have a credit score of at least 750. Documents Required for Personal Loan in Lucknow Application form properly completed with photos attached. Identification documents: PAN card, voter ID, driver’s license, Aadhaar card, passport. Aadhaar cards, copies of ration cards, Voter IDs, driver’s licenses, passports, electricity bills, and gas connection bills are acceptable forms of address proof. Age verification documents: Aadhaar card, birth certificate, SSC certificate, voter ID, and PAN card. ITR/Form 16 for the last 3 years. Three most recent pay stubs. Bank account statement over the past 6 months. How Can I Obtain A Personal Loan In Lucknow With The Lowest Interest Rate? When requesting a personal loan in Lucknow from a bank or NBFC, there are a few things to consider. You must ensure that your loan application is written in a way that will enable you to negotiate a favourable interest rate on personal loan with the lender. Although applying for a personal loan in Lucknow is simple, the lender ultimately decides whether to accept or reject the loan application. Your chances of getting a loan approved are improved by having a strong credit score. A credit score of 750 or more is favourable because it shows your ability to repay the debt. Your credit score has an impact on the interest rate that the lender will offer. A good credit score can get you a cheaper interest rate and vice versa. Make sure you evaluate your financial situation before applying for a personal loan. This can help you avoid requesting a loan amount that either exceeds or falls short of your needs. You will end up paying the lender a higher sum of money in interest. This happens if you borrow more money than you need. Similarly, if you borrow less money, you can run out of money. Therefore, conduct your homework and identify the bank with the lowest interest rate. Finally, apply for a loan to cover your requirements. [B-02] Wrapping up Many banks in Lucknow provide personal loans and other financial goods at reasonable terms and conditions. If you’re searching for a personal loan in Lucknow, you’ll be glad to learn that rates start at just 9.60% and that the maximum amount you can borrow is Rs. 30 lakh. Obtaining a loan requires little documentation, extremely low processing costs, and rapid disbursals. To read more such articles, log onto Piramal Finance.
08-11-2023
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Personal Loan

Top Up Loan vs. Personal Loan: Which One is Ideal for Home Furnishing

After one buys a house, one wants to fill it with dining tables, sofa sets, beds, and other things. It makes one feel good and fits their style. One can always take out a loan, but it’s hard to find one with a low-interest rate. Over time, the banking field has come up with loan options. They are better for clients and save both time and money. If one wants to fix their house, they can choose between a personal loan and a top up loan. But before choosing either one, it’s best to know how they differ and how they can help. Let’s find out. [B-01] What is a Top Up loan? If one already has a home loan, the lender may let one borrow more money extra to what one already owes. “Top up loan” is what the bank calls an additional loan. A lender wouldn’t give a top-up loan to every person with a home loan. The loan can be granted to only those with a good history of making funds. So, if one pays on time, one should check to see if this option is available. Features of a Top Up Loan In general, the loan amount for top-up loans is high. They are usually taken for a long term of 20 to 30 years. The interest rate on top up loans is low. The lender keeps property deeds as security. After the person has paid back the loan in full, they can get the house’s deeds. The lender can sell the property if the person doesn’t pay back the loan before it’s due. Features of a Personal Loan Personal loans are small loans that usually don’t exceed Rs. 25-30 lakhs. The length of a loan is usually between 12 and 60 months. The interest rates on top up personal loans are lower than those on personal loans. The borrower doesn’t have to put up anything as security for these loans. Personal loans are used to pay for high or sudden costs. This includes medical bills, a wedding, college tuition, a trip, or home repairs. Personal loan eligibility rules are stricter. Lenders usually only accept people with a good credit scores and credit history. Which is Better: a Top-up Loan or a Personal Loan? Here are a few things one should think about before deciding on the best loan for their needs: Loan Interest Rate A top-up loan on the existing house loan can be taken. The most crucial benefit of choosing this sort of loan is that it has a lower interest rate. This is because the lender views the home as collateral and does not require one to provide extra security. As a result, one can get a lower interest rate of around 10%. A personal loan, on the other hand, is an unsecured loan. It means one doesn’t have to furnish any security. This allows the lender the authority to levy a higher interest of 12%-16% or more. This, as a result, leads to hefty equated monthly payments or EMI levels. Tenure of the Loan A comparison of a top-up home loan vs. a personal loan isn’t complete unless one talks about its length. Most home loans have terms of 20 years and sometimes longer. If one takes a top-up loan, one can extend the time they have to pay it back. But, the amount of the EMI could also change. One can get a personal loan for up to 7 years. They have to pay it back within that time. Due to this, it is vital to consider the loan term before applying for either loan. Loan Rebate Period A personal loan is the best one if one needs money within a few hours. Most lenders today offer instant personal loans. The money is deposited into one’s account within 2-4 hours with minimal documents. One can get a personal loan if one needs money right away. But if the person has a few days to manage, it’s better to wait and get a top-up loan with a lower interest rate. Since a top-up personal loan is a type of home loan, the lender needs to look at the current home loan again. If the person has been making his home loan payments on time, they should have no trouble getting this additional loan within 24 to 48 hours. Application, Loan Approval, & Other Fees People with a good history of paying back loans and credit scores can easily get top-up personal loans. They will not have to go through the application and approval process. It may take longer and be more difficult. The lender will first make sure the person is eligible for a personal loan and check documents before giving the loan. On the other hand, if the person needs money quickly and has all the proper documents, they can apply for a personal loan online. They will get the money within 48 hours (subject to eligibility). Getting a top-up on one’s home loan could take a while. It depends on how well the person knows the lender and how eligible one is. It also includes the debt-to-income ratio. Simple Documentation When a person applies for a top-up personal loan, the bank will already have all of the required documents. This is because the person had provided them when they applied for a home loan in the first place. If the person chooses an add-on loan, the document process is simplified and less time-consuming. On the other hand, a personal loan will require the person to fill out many forms and submit multiple files. Overall, the person can decide which loan is best for them by keeping the above factors in mind. Processing Fees on Top Up Loans The processing cost for a standard home loan also applies to the top-up. As a result, it will differ from lender to lender. The charge typically ranges between 0.35% and 1% of the loan amount given. [B-02] Conclusion Opting for any type of loan depends on what a person needs. If a person needs a loan to fix up their house, a top up loan would be the best choice because it would give the person more money to work with. So, before making a decision, one should go to their bank and talk to them about the different types of loans available. Visit Piramal Finance to learn more about various types of loans and explore different products and services.
08-11-2023
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Personal Loan

Personal Loan for Salaried Employees | Eligibility Criteria and Features

In India, you can easily secure a personal loan if you have an income source. In certain cases, those with no income can also get a personal loan, but the probability is lower. Most banks and Non-Banking Financial Companies (NBFCs) prefer to give out personal loans for salaried individuals given the certainty of their income, and thereby repayment. Even among those who earn a consistent income, professionals with government jobs are more likely to get a personal loan because of their higher job security. Private-sector employees come in a close second. Sometimes, you can also find differential interest rates for the same personal loan for salaried employees in these sectors. So, what determines if you will get a personal loan or not? Apart from your job, other important factors that lending institutions look at are your age, credit score, company profile, your role in the company, your net CTC or monthly income, etc. You can also get a pre-approved loan that is disbursed immediately based on some pre-determined criteria. [B-01] Key Features of a Personal Loan Individuals mostly opt for a personal loan to take care of certain expenses that are heavy on the pockets but aspirational, like a wedding or buying a used luxury car. Here are some important things to note before opting for a personal loan for salaried individuals – The interest rate on personal loans is usually on the higher end of 10% and can go even higher based on the loan amount and lending institution. As a salaried person, you can get a personal loan of up to INR 40 lakhs. The loan repayment tenure can range from 5 to 7 years. A personal loan for salaried employees is usually devoid of any end-use restriction. There is usually a processing fee of up to 4% on a personal loan, but some lending institutions can also waive this. You can also get a pre-approval loan if you have a good credit score and a consistently satisfactory banking history (no defaults, a minimum balance in your bank account, etc.). A personal for salaried individuals can be used for any purpose. Eligibility Criteria for a Personal Loan You can now plan that European vacation or a grand wedding if you meet the below-mentioned criteria (as per RBI guidelines) for an easy personal loan for salaried employees. At the time of the loan application, you must be at least 21 years old. Your age should not exceed 60 years old or the age of retirement at the time of loan maturity. You must be an Indian citizen. You must be employed by either a private limited company or a PSU (Public Sector Undertaking) for the personal loan to be approved. You must have worked for at least 1 year with a consistent monthly income at the time of loan application. Your monthly income should not be below INR 15,500. A credit score of 750 and above is desirable to be eligible for a personal loan. Documents Required To avoid rejection and expedite approval, you must ensure that your documentation is spot on. Here is a list of all the important documents that you need to submit at the time of applying for a personal loan for salaried employees – A duly filled and signed loan application form. A recent passport-sized photograph of the applicant that is not more than 6 months old. A valid identity proof: an Aadhar card, passport, PAN card, voter ID card, or driving license Please show a valid proof of address, such as an Aadhar card, passport, voter ID card, driver’s license, rental agreement, proof of gas connection, bank statement, or utility bill. Aadhar Card, Passport, Voter ID card, or School Admit Card as proof of age Your salary slips from the last 3 months before the date of the loan application. Form 16 and income tax return proof for 2 years before the date of the loan application. 6 months’ bank statements. Your employment proof, like an employee ID card. Ensure that you sign all the documents before submitting them. You can submit them offline or online. Things to Remember Securing a personal loan is quite easy and hassle-free today. But ensuring that you check your eligibility beforehand and keep all your documents ready for submission makes the process even more stress-free. In addition, Make sure that your credit score is above 750 to increase your chances of getting a loan. Lenders try to keep your EMI payments to less than 50% of your total monthly income. Because of this, you should do the math before you ask for a loan amount quote. You can get a personal loan for salaried individuals even if your company is not listed on the lending partner’s application form. Most personal loans come with a foreclosure fee; it is best to check this information at the time of the loan application. [B-02] The financial landscape in India has changed quite a bit over the last few years. And lending institutions like Piramal Finance are quite favorable towards you as a borrower. Getting a personal loan for salaried employees is easier than ever before. All you will need to do is meet the eligibility criteria and comply with the paperwork. The rest is like a walk in the park!
08-11-2023
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Personal Loan

Personal Loan in Tambaram – Chennai – Check Eligibility and Apply Online

Tambaram is known for the flawless integration of traditional working systems and modern technology. It is also home to the rich heritage of the South and is a popular destination for foreigners. This metropolis of priceless offers has something for everyone, thanks to the seething vitality of Tamil cinema on the one hand and the dominance of the automobile industry on the other. However, the greater-than-average cost of living in this beta-level metropolis may strain your budget. Because of this, several banks are there to help you by providing low-interest personal loans in Tambaram, Chennai. One of India’s largest commercial and educational hubs is Tambaram. Here, anyone can easily start a business or get employment. This good fortune has come about as a result of the city’s several flourishing industries. Although Tambaram offers you a variety of career opportunities, everyone’s financial situation will experience ups and downs. You can choose a personal loan in Tambaram – Chennai if you live in this amazing place and need money quickly. [B-01] Personal Loan in Tambaram – Chennai – Online Application Here are the steps you need to take to get a personal loan online in Tambaram, Chennai: Select “Apply”. Verify the OTP given to your phone by entering the 10-digit mobile number. Your fundamental information, including your complete name, PAN, birthdate, and PIN, should be entered into the application form. The loan selection page will appear when you click “Proceed.” Enter the required loan amount. Select the repayment period, which can range from 12 to 84 months, and then click “Proceed.” Finish the KYC process and then submit your application. Eligibility Criteria for a Personal Loan in Tambaram, Chennai Those who fit the following criteria may apply for a personal loan in Tambaram – Chennai: Employees of private limited enterprises and those working for public sector organisations, such as federal, state, and local governments. People in the age range of 21 to 60 years. Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer. Those with a minimum monthly net income of Rs 25,000. Documents Required For A Personal Loan In Tambaram – Chennai Identity Verification (Aadhaar card, PAN card, driving licence, passport, voter ID, etc.) Signature evidence (passport, PAN card, etc.). Proof of address (passport copy, Aadhaar card, driving licence, utility bill (gas or electricity bill), voter ID, ration card, rent agreement, etc.) Six months’ worth of bank statements. How Can I Get the Lowest Interest Rate Personal Loan in Tambaram? Most people choose the bank that holds their salary account when applying for a personal loan since the paperwork is easier and the procedure is taken care of quickly. While this may work just fine for some people, the best course of action is to search for loans supplied by multiple banks and NBFCs at the best interest rates. More than that, there are a few other things that will favourably influence your loan interest rate. If you’re taking out a loan, the following are some things you should consider or take care of to achieve the lowest interest rate possible: Credit score When applying for a personal loan, it is crucial to have the best possible credit score. You will be able to receive a loan at a lower interest rate if you have a high credit score, and vice versa. When applying for a personal loan, a credit score of at least 750 is required. Make a down payment You’ll obtain a better interest rate on your loan if you make a sizable down payment. If you borrow more than 20% of the total amount, the interest rate you are given will almost certainly go up. Debt-to-income ratio Ensuring a constant debt-to-income ratio is important because it will determine if your loan application will be approved in the first place and how much interest you will pay. The debt-to-income ratio is the difference between a person’s income and all of their debts, including loans and credit card obligations. Tenure Choosing your tenure will directly affect the interest rate that will be applied to the loan amount. Even though the EMIs will be significantly lower, choosing a shorter duration will result in you having a much lower interest rate. The duration of the payback time is inversely correlated with the interest rate. Employee stability and your employer’s reputation The number of years of experience you have and the business you work for are crucial factors in determining both the approval of your loan and the loan’s interest rate. The bank will be more confident that you will return the loan if you work for a reputable organisation. Always bargain Even if most people are happy to accept the bank’s loan interest rate, bargaining is still necessary. You have a higher chance of negotiating if you’re a client of the bank that has your paycheck as collateral for the loan. [B-02] Wrapping Up Without having to worry about anything, you can easily obtain a personal loan in Tambaram – Chennai. In Tambaram, you can get the ideal financial solution thanks to simple payback terms, adaptable loans, and a tonne of extra services like managing your costs, assisting with savings, and informing you about your EMIs. For more such articles, log onto Piramal Finance.
08-11-2023
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Personal Loan

How Can You Get the Best Deals on Personal Loans?

People take out personal loans more than any other type of loan. One of the main reasons that a personal loan is so popular is that lenders do not limit how the money can be used. This is not the case with other loans. The person who has taken the loan can use the money for any purpose they have. People usually take out personal loans to pay for unforeseen expenses, medical emergencies, weddings or other festivities. Personal loans are also often used as down payments on a house or car, to make home improvements or buy furniture for the home. To get the best deals on instant personal loans, a borrower must know and follow specific rules, which are examined in this article. [B-01] Features of Personal Loans A personal loan does not need any collateral and the application process has less paperwork. After the verification process, a personal loan can be approved in as little as 48 hours. Personal loans help people get money, but they have interest rates. There are no limits on how the money from the personal loan can be used. 10 Tips to Get the Best Deals on Personal Loans Applying for the right loan amount is important. Loan amounts should be based on how much one can comfortably pay back in the future. So, figure out your actual needs before deciding how much to borrow. Here are some tips to get the best deals on a personal loan. Find Out the Interest Rate Borrowers can check the interest rates and conditions of personal loans by visiting the websites of different lenders. This can help applicants get a good deal on a personal loan. EMI calculators can help select the best options. Conduct Proper Research Before Applying For a Personal Loan Banks, NBFCs and fintech companies offer personal loans, but the terms and conditions differ between traditional and fintech companies. Banks and NBFCs may provide loans at low interest rates. Some borrowers may not qualify due to specified rules, but there may be better deals from other lenders. It is a good idea to use an online aggregator to compare the personal loan‘s terms, interest rates and fees. Keep a Good Credit Score Personal loans are unstructured credit. Thus lenders evaluate applicants’ credit scores to determine their trustworthiness. Since credit scores range from 300 to 900, 750 is usually a good score. If anyone’s credit score is low, they might not get a loan or a higher interest rate. Paying EMIs and credit card bills regularly or on time can help keep the credit score high. Choose Short-Term Loans Longer tenure loans may easily tempt borrowers due to lower EMIs. But these loans will cost more in the long run because the interest will continue to be added to the monthly balance. Personal loans with short terms keep the total amount in check. Also, personal loan calculators can help applicants determine which options are best. Ensure Regular Repayments Regular and on-time payments help keep a good credit history and keep late payments and other fees. Also, a bad review could make it harder to get another loan. Avoid Multiple Lenders If a borrower talks to more than one lender at the same time, it could lead to more than one inquiry. It looks like the borrower desperately needs money, which may not be good, and lenders could be less likely to lend money. So, it is best to look into and compare the eligibility requirements of different lenders and only go to those whose requirements match. Beware of Plans With No Interest Some lenders work with lifestyle or consumer goods stores to offer 0% EMI plans to entice people to borrow money. Borrowers often pay interest because they do not know about the high costs and processing fees until the last minute. Foreclosure Charges Foreclosure charges or early payments are also necessary when choosing a lender. Borrowers can sometimes pay off their loans early, but the foreclosures or prepayment fees are not worth it. To avoid being let down in the future, one must find out important details ahead of time or choose vendors who do not charge for prepayment. Check For Hidden Costs Find out if there are any processing fees, late payment fees or other hidden or built-in fees that can increase the total cost of a loan. If so, put these costs in the budget or figure out how to avoid them. Avoid Advance EMIs When an EMI is paid early, the interest rate goes up, and the borrower will pay more than what is shown. Some lenders may ask borrowers to pay advance EMIs before the loan is paid out. It is wise to stay away from advanced EMIs and look for banks or personal loan apps that only require regular payments. How to Apply for Instant Personal Loans? The benefits and features of an instant personal loan give people relief in an emergency. This is shown by how easy it is to apply for a personal loan online. There are only five steps to do this. Step 1: Go to the ‘Loan’ section, and click on ‘Apply Now.’ Step 2: Enter the basic information and upload the documents needed for a personal loan. Step 3: Wait for the application to be checked and evaluated. Step 4: Get the confirmation of approval. Step 5: Approve and authorise the online disbursement of the personal loan. [B-02] Conclusion Getting a personal loan is rather easy. Since people do not have to put anything up as security for these loans, personal loans are one of the most common types of loans in India due to their many benefits. Many companies also offer people personal loans. That is why choosing the right bank for your personal loan is important so you can get the best deal on your instant personal loan. For further information and useful blogs like this one, visit Piramal Finance to know more about instant personal loans and other important financial information and services.
08-11-2023
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Personal Loan

How to Get Pre Approved Personal Loan from Piramal Finance 

If you need quick and easy financial assistance, then a pre-approved personal loan from Piramal Finance could be the ideal solution for you. With this type of loan, you can get the funds you need in as little as 24 hours, and there is no need for collateral or a co-signer. Plus, you can use the loan for any purpose you see fit, whether it is for home improvements, medical expenses, or even a much-needed vacation. If you are interested in applying for a pre-approved personal loan from Piramal Finance, then read on for more information on how to do so. [B-01] What is a pre-approved personal loan? A pre-approved personal loan is one approved in advance by a lending institution. This means that the borrower has been through a thorough credit check and has been approved for a loan up to a certain amount. The benefit of a pre-approved personal loan is that it can be used for any purpose, and the interest rate is usually lower than that of a standard personal loan. A pre-approved personal loan can be a great financial tool for those who need access to cash quickly. It is important to understand the terms and conditions of the loan before signing on the dotted line, as there may be some drawbacks. Piramal Finance: A trusted name in personal loans Piramal Finance is a well-known and trusted name when it comes to personal loans. The company has been in operation for over 40 years and has a powerful reputation for providing quality financial products and services. Piramal Finance offers a wide range of personal loan products, including loans for home improvement, medical expenses, education, and more. Piramal Finance is an excellent choice for borrowers who are looking for a reliable and reputable lender. The company’s loan products are competitively priced and offer a variety of repayment options to suit your needs. The company is known for its competitive interest rates, flexible repayment terms, and customer-friendly service. How to get pre-approved for a personal loan from Piramal Finance? If you are looking to get a pre-approved personal loan from Piramal Finance, there are a few things that you will need to do. First, you will need to make sure that you have a good credit score. This is because Piramal Finance will check your credit score before approving you for a loan. If you have a good credit score, you will have a better chance of being approved for a loan. Next, you will need to gather all necessary documentation. This includes things like your ID, proof of income, and bank statements. You will need all this documentation to apply for a loan. Once you have all the necessary documentation, you can apply for a loan online (Pre Approved Loans Online) or in person. you apply online, you will need to fill out an application and submit it for review. If you apply in person, you must bring all your documentation to a Piramal Finance branch and speak with a loan officer. Once you have applied for a loan, you will need to wait for a decision. Piramal Finance will review your application and decide based on your credit score, income, and other factors. If you are approved for a loan, you will be given a loan amount and interest rate. You will then need to sign a loan agreement and begin making payments. Eligibility criteria for a personal loan from Piramal Finance You must fulfil several requirements to be eligible for a personal loan from Piramal Finance. The applicant must first be at least 21 years old. They also need to be salaried workers. Third, they need a consistent source of revenue. They need to have a solid credit history, fourth. Fifth, they need a bank account that is in their name. They must also present identification and residency evidence. The benefits of a Pre-Approved Personal Loan from Piramal Finance A pre-approved personal loan from Piramal Finance can offer several benefits, including: The ability to shop around for the best interest rate: By getting pre-approved for a personal loan, you can shop around for the best interest rate without impacting your credit score. The peace of mind of knowing how much you can borrow: A pre-approval letter from Piramal Finance will give you an estimate of how much you can borrow, which can help you budget and plan for your financial needs. The flexibility to use the loan for anything: Unlike some other types of loans, personal loans can be used for a variety of purposes, including consolidating debt, funding a major purchase, or paying for unexpected expenses. The security of fixed interest rates: With a personal loan from Piramal Finance, you will know exactly what your interest rate will be for the life of the loan, so you can budget accordingly. How to make the most of your loan from Piramal Finance There are many ways to make the most of your loan from Piramal Finance. You can use the loan to consolidate your debts, pay for unexpected expenses, or make a major purchase. Here are a few tips to help you get the most out of your loan: Create a budget: It is critical to do this before applying for a loan. This will enable you to calculate how much you can borrow and how much you must pay back each month. Compare lenders: Not all of them are created equally. Before selecting a loan, it is crucial to compare interest rates, costs, and payback periods. Read the fine print. Before you sign anything, make sure you have read and comprehended the terms and conditions of your loan. Pay your bills on time: After taking out a loan, it is crucial to pay your bills on time. Your credit score will suffer if you miss a payment, and the cost of your loan will rise. Pay off your loan early: If you have the means to do so, think about doing so. You’ll pay less interest as a result, and you’ll pay off your loan faster. [B-02] Conclusion If you are looking for a personal loan, then you should consider Piramal Finance. They are one of the leading financial institutions in India and offer a wide range of personal loan products. You can get pre approved loan offers from Piramal Finance by following the simple steps mentioned in this article. So, what are you waiting for? Go ahead and apply for a personal loan from Piramal Finance today!
08-11-2023
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Personal Loan

Personal Loan in Kolkata. Check Eligibility and Apply Online

Kolkata, the capital of West Bengal, has excellent resources. These include a convenient location and a low cost of living. This opens up many commercial prospects. There are several banks and other financial organisations in the city. They will aid you in applying for a personal loan. This, in turn, will meet your financial demands. Kolkata is situated along the Hooghly river. A major commercial centre, Kolkata is home to numerous banks and financial firms. The city has advanced significantly over the past few years. This has happened due to IT development and business expansion. These developments have increased people’s need for banking services. There are no restrictions on the use of low-interest personal loans in Kolkata. To apply for a personal loan in Kolkata, you are not required to give the banks or NBFCs any security. There are many reasons why you would need an instant personal loan in Kolkata. The list below displays some: [B-01] Medical expenses. Debt consolidation. House renovation. Vehicle repair. Education. Weddings. How To Apply Online For A Personal Loan in Kolkata Applying for a personal loan online in Kolkata gives hassle-free financial support. You need to first determine your eligibility for a personal loan in Kolkata online. Then, you can get to apply for one. You will need a strong Internet connection to apply for an online personal loan in Kolkata. You can apply for a personal loan in Kolkata online with just a few clicks rather than waiting in long queues. Additionally, online personal loans in Kolkata receive rapid approval. It provides you with the needed money very soon. Applying for a personal loan online entails the following 4 steps: To get started, click the “Apply Now” button. Fill out the form completely, including the amount and duration. Upload the required files. Select “Submit”. Eligibility Criteria For A Personal Loan in Kolkata The candidate must reside in India. Age: The minimum age for submitting an application is 21 years. The maximum age when the loan is due is 60 years. The candidates must be salaried, that is, work for a public or private company. They could be an employee of the state, the federal government or a local government. They could also be self-employed professionals or self-employed non-professionals. Typically, a credit score of 750 or higher increases your chances of getting a personal loan. Documents Required for A Personal Loan in Kolkata Form of application with photos attached. ID documentation: PAN card, Aadhaar card, voter ID, passport, and driver’s licence Address verification options include voter ID, an Aadhaar card, a duplicate of a ration card, energy or gas connection bills, a passport, or a driver’s licence. Age verification documents: Aadhaar Card, birth certificate, SSC certificate, voter ID, and PAN Card. Statement of recent 6-month bank account statements. Salary certificates and slips for the previous 3 months. Recent Form 16/ITR for the previous 3 years. Benefits of A Personal Loan in Kolkata Here are some advantages of applying for a personal loan in Kolkata online: No security is necessary An instant personal loan in Kolkata is an unsecured loan. For this, there is no need for collateral. So, you can apply for it online without providing any security. Minimal documentation To apply for a personal loan online in Kolkata, you need to submit minimal paperwork. You must give proof of your identity, address, and income. Affordable interest rates You can quickly compare personal loan interest rates in Kolkata. You need to do this before applying for a personal loan in Kolkata. Low-interest personal loans in Kolkata are available based on your qualifications and reputation. Flexible loan term You can repay the money over a flexible period of 1 to 5 years when you apply for an instant personal loan in Kolkata. You can select the repayment period. This online personal loan in Kolkata is based on your comfort. Instant approval When you apply for a personal loan in Kolkata, the banks and NBFCs evaluate your profile. You will receive quick approval for a personal loan in Kolkata. There is no delay after a successful profile check. Simple repayment It’s simple to make payments on an online personal loan in Kolkata. Equated monthly instalments (EMIs) let you repay an online personal loan in Kolkata with ease. Purpose fulfilment An instant personal loan in Kolkata is not targeted towards any particular goal. You can use an online personal loan in Kolkata to address a variety of issues. [B-02] Wrapping up The best choice when you face a financial emergency is a personal loan. This loan is unsecured. Thus, you receive funding immediately. The disbursement takes place soon after. You will be notified through email and SMS as soon as it does. The email will provide in-depth information about the loan. The SMS, on the other hand, will just give you a brief overview. The email will mention information such as net loan disbursement after processing fees. It also has the loan’s repayment period, the applicable interest rate, etc. For more related information, log onto Piramal Finance.
08-11-2023
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Personal Loan

Personal Loan in Thane – Dombivli – Check Eligibility & Apply Online

People often argue that getting a loan has become very difficult, and they are not completely wrong. The government of India did make some new rules, but they did so to ensure the security of the loan recipient and the loan amount. So, the loan approval process is now a bit more difficult than before, but it’s not that difficult. However, getting a personal loan has never been easier. With little formality and no collateral, it has become one of the most sought-after loans in the country. Today, we will learn about how to apply for such a loan and pass the eligibility criteria for your personal loan in Dombivli. [B-01] How to Apply for a Personal Loan in Dombivli To apply for a personal loan in Dombivli, you will have to fill up the personal loan form and submit some documents so that the bank can verify everything. Once the details are verified, your bank will check if you are eligible for the loan. You can either visit the nearest branch of your bank or follow these steps online to apply for a personal loan in Dombivli. How to Apply for a Personal Loan at Your Bank To apply at a bank branch, you will need to take some documents and some passport-size photographs with you when you go to the bank. Once you have your document list and photographs, visit your bank and ask the bank staff for a personal loan application form. Fill out and submit the form along with all the relevant documents. The lender will verify your application form for a personal loan in Dombivli and check your eligibility criteria. If you are eligible, the loan will be disbursed to your bank account. How to Apply for a Personal Loan in Dombivli Online Visit the lender’s website. Choose the personal loan option from the loan section. Click on “Apply Now.” Enter all the details asked for in the personal loan application form. The lender will check your eligibility. If you are eligible, you will need to submit your KYC and income documents. The lender will verify the documents. If everything checks out, your loan will be approved and transferred to your bank account in no time. Nowadays, you can also submit a personal loan request through an email or a phone call to the customer service centre of the lender. They will contact you to complete the formalities and eligibility check; alternatively, you can make a request through the ATM kiosk, and someone from the bank will contact you. Documents Required for a Personal Loan in Dombivli Here is the list of documents that will be required or accepted by the lender. Identity Proof: You will need to bring some documents, such as your Aadhaar card, voter card, passport, or even a ration card, to prove your identity. Address Proof: A rent agreement or house registration certificate can be used for address proof. Aadhar cards and voter ID cards are also good options. PAN Card: The PAN Card is a vital document that you must carry with you when obtaining a personal loan in Dombivli. Income Proof: Bank statements of the last 3–6 months, a salary slip, a Form 16 along with an income tax certificate, etc. are considered income proof. You might need to submit one or multiple of these, depending on the requirements of your lender. Personal Loan Application Form: Carry with you the filled-out and attested application form for the personal loan. Passport-size photographs To check loan eligibility online, use the Eligibility Calculator These days, you can use various online eligibility calculators to find out if you are eligible for a personal loan in Dombivli. Search for a personal loan eligibility calculator online and enter the details as follows: Enter the city where you live. You will also have to enter your monthly salary or income. Then, you will have to enter your date of birth. Enter your monthly expenses, such as rent (if you are living in a rented home), bills, daily expenses, and so on. You will have to enter where you are working. If the company you work for has a good reputation, then your loan could be instantly approved. Once you enter all the details, the website will show you if you are eligible for the loan. Certain Factors That Can Affect The Eligibility of Personal Loan Application Certain factors can affect your loan eligibility, such as Where you live, Your employment status and place of employment, How much do you earn, Your credit history and credit score, Your age. Where you live is critical to getting your personal loan in Dombivli approved. So, if you live in your own home, your chances of securing a personal loan increase exponentially as compared to living in a rented house. Also, if you have previously taken credit or have a bad credit history, chances are that you will not be eligible for the loan. [B-02] Bottom Line Using this guide, you can easily apply for a loan without the fear of getting rejected. Since you are looking for a personal loan, we will be happy to recommend Piramal Finance. It is one of the leading financial corporations that offers an easy personal loan. So go ahead, visit Piramal Finance’s website, check for their eligibility criteria, and apply for a personal loan online.
08-11-2023
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