More articles for you

Get an Instant Personal Loan With Piramal Finance

Nowadays, submitting a loan application in only five minutes is not difficult. Applying for instant loans is now simple, thanks to the advent of internet lending and loan applications. You may select from a credit website, lending portal, or personal loan app to get a loan in five minutes. The online loan application process is simple and easy to utilize. It wasn’t easy to think that loans could be obtained in about 5 minutes using typical loan application methods. The loan proceeds are released in the borrower’s bank account within 24 hours of the required information being verified, which is why it is known as an immediate loan. In this article, we will discuss everything you need to know about getting instant personal loans. [B-01] What are Instant Personal Loans? Instant loans do not need a lot of paperwork and are quickly accepted without requiring an asset display. Compared to regular bank loans, the procedure is simple and convenient. Personal loans and fast loans are other names for instant loans. Which loans are available online in five minutes? There are primarily two types of loans: secured and unsecured. In contrast to unsecured loans like personal loans, which are collateral-free and do not require any asset as security, secured loans are constrained by collateral. They require a guarantor or an asset as security. As a result, instant personal loans are authorized and disbursed in under five minutes. Young and tech-savvy people are more likely to use instant personal loans. Through smartphone apps offered on the Google Play Store, instant loans are quickly available and at your fingertips. As a result, you are prepared for any financial emergency and know how to get quick cash in a matter of minutes. Ways to Get Instant Personal Loan Instant personal loans are offered by several lenders, including nationalized banks, NBFCs, and online lenders. Any such lender would accept applications through their official website for an immediate loan payout. You only need to go to their website and submit an application for a personal loan by filling out the form. Apply on Lender’s Website The first step in the loan application process is choosing your lender. Check your eligibility for a personal loan on the internet for a simple loan application. To check your eligibility for the loan, just complete the form with your basic contact, financial, and work information. The most important step may be finished in a matter of minutes. Select Loan Variable Don’t forget to adjust the loan to your financial needs when applying. Your loan amount and term are two crucial factors for a quick loan. It’s crucial to keep the fund’s payback in mind while making your decision between these two. To achieve this, figure out your EMIs using an online calculator that will assist you in selecting the best loan amount and payback period so that you can make EMI payments on time and raise your credit score. Provide Documents In order to validate your application for a personal loan, once it has been granted based on your eligibility, you must provide supporting documentation. The procedure may be completed by simply uploading the necessary papers online. Keep your documentation prepared for quick loan approval regardless of whether you applied for a little or substantial loan amount. Usually, you have to provide basic KYC documentation. Once you’ve prepared these documents, you may apply by simply filling out the online application form. Get Funds All that is left is for the lender to credit the money to your bank account after reviewing your application and giving you the go-ahead. The loan money is often deposited in your bank account within 24 hours by reputable lenders, making this a fairly speedy process. Those who require immediate loan approval gain even more from this. Eligibility Criteria Your eligibility requirements must be met to receive a loan approval promptly and within 5 minutes of applying. Insufficient qualifying requirements may delay the approval of the loan: The borrower’s ages should be 21 and 58 The borrower must be an Indian citizen The borrower must have a minimum monthly income of Rs. 15,000 The borrower must provide at least six months’ worth of pay stubs or bank statements How to Get an Instant Personal Loan with Piramal Finance? Your apprehension over applying for a personal loan from Piramal Housing Finance is reasonable. Due to the procedure’s simplicity and ease, one may easily apply for it while unwinding in the convenience of their home. Applications for a Piramal Housing Finance Personal Loan can be made online and anywhere. All you need is a computer, smartphone, or another internet-connected device. Therefore, it is simple to obtain fast short-term loans such as personal loans and loans for consumer durables. Instant personal loans are available on several websites and lending applications. Different lenders could employ various techniques to determine your loan eligibility. However, all lenders provide loans swiftly and conveniently online. Make sure you carefully go through all of the terms and conditions of the immediate personal loan before signing the loan agreement with any lender. Before applying for a personal loan, compare the offers and rates from several lenders online. Key Points to Remember Interest rates begin at 12.99%* annually. No fees for early repayment or foreclosure. During the application procedure, any additional fees will be disclosed for specific costs & fees. [B-02] Conclusion Online personal loan applications are quick and simple to complete. Without going to the lender’s office, you may finish the full loan application procedure whenever and wherever you choose. If your loan request is accepted, the money will be added to your account immediately. Personal loans may now be obtained online in 5 minutes because of the convergence of finance and technology. Piramal Finance Instant Personal Lending is a trustworthy loan app that provides funding in only five minutes. Get in touch with us to begin the loan application procedure right now! Check out Piramal Finance blogs for more information on finances, loans, and more.

Pre-Closing the Personal is it a Good Idea?

Personal loans have some of the highest rates, excluding charges on credit card balances. Loans attract a premium because they are often unsecured, with rates ranging from 15% to more than 20%. On the other hand, a personal loan is standard in the nation since it helps those in urgent need of money. Loans, which are often used to purchase people’s durables, weddings, medical treatment, or even vacations, are provided by most banks, with minor gaps in fees. But, if a personal loan could be prepaid, people would get many perks. But first, let us define the “pre-closure of debts.” [B-01] What is Pre Closure of a Loan? The total pay of the debt in a single instalment before the due date is referred to as a pre-closure. As a result, rather than still paying many EMIs, people pay the debt amount all at once. This saves people a lot of interest and EMIs they would have had to pay over time. Before they decide on a loan, they must first get consent from the lender. In some instances, lenders may assess a pre-closure penalty to cover the lost interest rates the firm would have otherwise collected. Process Of Pre Closing Personal Loan Pre-closing a personal loan might not be a complex task. Some of the basic actions people may take when pre-closing a personal loan are as follows: Inform the lender that they want to pre-close on the debt. Submit a formal pre-closure form through email or in person at the local branch. Relevant papers, such as ID proof and loan documents, should also be submitted. Following submission, one would be asked to pay for the pre-closure of their personal loan account. The bank will send them an indication letter when the pre-closure has been completed. In a few days, they will get the final pre-closing papers. Perks of Pre-Closing Personal Loans Get out of debt faster People take out a loan to cover some vital bills – now, it’s crucial to pay them back. Yet, the loan might create financial hardship if not aptly handled. Bank loan EMIs could eat into monthly savings. This is why, if one has extra money, it is often suggested that one pay off the personal loan in full. They may be charged a prepaid fee as they repay the loan. Boost the credit score: People reduce their money load when they pay the total or partial loan. This improves their credit score since existing debts are closely related to their credit score. The credit score improves when the existing loan balance is lowered or paid off by a partial or complete pre-payment. This increases the chances of obtaining another loan. Pre-payment results in lower rate outflow: The holding period is one of the most vital things to keep in mind regarding loan pre-payment. This is when the lender doesn’t allow the client to make any instalments, whole or partial, towards the loan amount. Yet, after the holding period, when one has some spare cash, they can prepay the loan in whole or in parts. Debt can be reduced through partial pre-payments: Partial payments can reduce the debt load. When people pay off a portion of the debt loan balance, they reduce the debt load. This also reduces the amount of charge that is charged on the overall debt amount. But, if they want to pay off the debt early, they must aim to do it over the first few years. Is it Reasonable to Make Pre Payments on a Personal Loan? The lending rate is always lower than a user’s borrowing cost. The methods for online loans and offline loans are slightly different. When it comes to online loans, the amount owed is shown in the online account, and people will get an indication as soon as the dues are paid. A NOC (No Objection Certificate) and a loan closure certificate are the last papers vital to complete the pre-closing a personal loan. Yet, suppose users are applying for an offline loan. In that case, they must have all the papers vital for ID validation, such as official ID proof, loan account details, bank records showing the most recently cleared EMI, and a check or demand draft for the debt loan amount. The bank may need extra papers that they believe are vital for the process to be completed. Once all of the papers have been provided by the borrower and approved by the lender, the bank will issue a letter admitting the pre-closure, which must be obtained and kept for future transactions. When the process is finished, the bank would either post or mail a paper saying that the loan has been completed. For example, people may get a mortgage at a 15% rate, but the annual savings would not be over 9% to 10%. At about the same period, they must repay 15% of the rates on the debt loan balance. If people choose to repay, the loan balance may be returned, saving an additional 5% to 6% rates yearly. [B-02] Conclusion It is time to obtain fast money to satisfy that urgent financial demands, personal loans are often the first choice people consider. Personal loans are incredibly handy, particularly in an emergency, and their interest rates are often greater than any other kind of secured but unsecured loan. No matter how practical and easy asking for a house loan seems, there are always certain concerns about borrowing. When it comes to personal loans, borrowers’ most common concerns are about the service fees, interest rates, and other expenses that may be imposed. Other factors that make people sceptical include pre-closure and personal loan payments. Once the borrower has finished the pre-closure process, the lender will produce a credit report that reflects one’s financial state and stability. Lenders use this credit score to measure credit and set up loan conditions and terms. Following the pre-closure, lenders will be ordered to update the credit file to CIBIL, where all credit data and reports are kept. This is an essential step in completing the process. Visit Piramal Finance to learn more about personal loans and explore different products and services.

What Is A Processing Fee For Personal Loans?

You may consider personal loans a great financial instrument to cover your costs. However, a personal loan has additional fees in addition to interest. In addition to processing costs, lenders impose several extra fees on the sum of personal loans. Before considering the Processing Fee for a Personal Loan is crucial. Therefore, before applying for a loan, whether offline or through a personal loan app, you must inquire with your lender about and take into account any fees that will be associated with it. Let’s explore the meaning of the processing fee for a personal loan and the justification for personal loan lenders charging it. [B-01] Introduction to Processing Fee For Personal Loan Lenders provide personal loans to borrowers to ensure they have enough money to pay their bills. However, the sanctioning and disbursement of the loan money into the borrower’s bank account involves several procedures, one of which is loan processing. In this phase, the lender processes the borrower’s loan application and examines their supporting documentation. In addition, processing a loan entails going through administrative procedures to establish a binding legal agreement between the borrower and the lender. An administrative fee for processing a borrower’s loan application and establishing a binding loan agreement is imposed by the lender on the borrower as compensation. A processing fee for personal loans typically amounts to 0.5% to 4% of the sanctioned amount and is based on the loan amount supplied by the lender to the borrower. Lenders must now legally add GST to the loan processing cost due to the adoption of the GST. Common Charges for Personal Loans Processing Fees A bank will spend money processing a loan that is connected to the administration. Typically, this amount ranges from 0.5% to 4%. There are variations in the processing costs for personal loans between banks. When applying for a personal loan, the borrower has two options: (I) pay the processing charge up front, or (II) have it subtracted from the loan amount when it is disbursed. Verification Charges Before approving the loan, a bank must be confident that you can repay it. They employ a third-party business to examine your credentials to do this. Your credit record and loan repayment history is examined. The expenses involved are an added cost that impacts the bank and must be paid for by the borrower. This outlay is thought of as a verification charge. GST For any additional services required during the loan application process or loan repayment period, the loan applicant must pay a small fee in the form of GST. Prepayment Penalty You pay interest on the Loan, which is how the banks make money. Your bank might suffer a loss if you pay off your debt earlier than the agreed-upon duration since you would be paying off your loan early. Your bank could charge a prepayment penalty on you to make up for this loss. Penalty on late payment of EMIs When a person takes a loan, they must pay it back in EMIs or equated monthly instalments. The borrower is in charge of ensuring that the EMIs are paid on schedule. If you fail to pay an EMI payment, you will be penalized. As a consequence, it is critical to plan your finances and loan conditions correctly, as well as to establish the EMI amount in advance. The Procedure of Charging Processing Fees Processing Fee For Personal Loans may be assessed in various ways by various lenders. For instance, online lenders follow the policy of subtracting the processing cost from the loan amount at the time of disbursement. Some other lenders cash your processing fee check after your loan is approved. The processing costs can thus be requested in advance or subtracted from the loan amount when the lender disburses it. Again, you should be on guard if the lender tries to cross-sell you any other products, such as insurance or a credit fitness report, as a condition of obtaining the loan. The best course of action is to compare your lenders’ fees to those of other lenders offering the same loan amount in the market. Eligibility for Personal Loans Age: You should be between the range of 21 and 45. Employment: When applying for a personal loan, you should have a full-time job in a private or public organization. Work experience: Additionally, you will need to have a minimum of six months of work experience. Tenure: This position should be retained for a minimum of three months. Income credit: Your bank account should be credited with your income. Paycheck: If you work and live in a Tier-I city, your monthly take-home pay should be at least Rs. 20,000. A Tier-II applicant’s take-home pay must be greater than Rs. 15,000 per month. Get a Personal Loan with Piramal Housing Finance You can analyze and compare personal loans from various lenders based on their fees and their effect on your finances when you take out the loan. Piramal Housing Finance is India’s top financial services provider and offers comprehensive and personalized personal loans to meet your funding needs. To calculate your repayment requirements, use the personal loan calculator. We have a group of knowledgeable advisers that can assist you throughout the full application procedure, assuring prompt approvals and quick disbursement into your account. Conclusion Even with these fees, a personal loan may be a valuable source of funding in times of need. Learn from Piramal Housing Finance how a personal loan might save you in the appropriate circumstances. If you are looking for more advice on personal loans, reach out to us today. [B-02] FAQs Does the processing cost come out of the loan amount? It is a one-time cost that is usually paid in advance. The processing fee is often only assessed following the approval of your application. Are processing charges allowed by law? Yes. The card brand or card product, but not both, can be used by merchants to impose different fees.

Decoding the Four Pillars of Personal Finance

Money isn’t everything. But it’s vital to manage it to stay out of debt. One should maintain a budget and spend less than the budget since there is nothing known as “good debt”. The four personal finance pillars give people and couples a structure for handling their finances. All lifestyles, income levels, spending limits, credit card debts, and total wealth are compatible with this system. Income, expenditures, assets, and debts comprise personal finance‘s four pillars. The money foundations will be solid if all four pillars remain functioning properly. Let’s learn more about each of them in detail. [B-01] What is Personal Finance? Personal finance defines the control of money by a person. It is in terms of saving, spending, and investing to fulfill long-term and short-term goals. This is vital since it allows for the freedom and control of one’s lifestyle planning. To cover all issues, it contains themes such as budgeting, mortgages, tax planning, and so on. Personal finance is not a subject taught at school or that anybody can learn. It is something a person learns by experience and should learn from an early age to prevent future problems. Personal financial planning often refers to the whole sector that offers services to people and families, including financial advice. A person’s goals and desires, as well as a strategy to meet those needs within their budgetary limits, influence how they handle the issues listed above. They must become smart with money to make the most of their earnings and assets. Personal financial planning will enable them to discern between good and bad advice and make sound financial choices. The Four Pillars of Personal Finance Let us now look at the four pillars of personal finance. Assets When it comes to personal finance, assets are everything that can be converted into money. Houses, stocks, bonds, mutual funds, vehicles, and cash are all examples of assets. While they vary in liquidity (how long it takes to convert to cash), they all have money’s worth. Assets are one of the main inputs for net worth. When debt is subtracted from assets, net worth, or even the liquidation value of everything one possesses, it is left. Debts Debt refers to any amount owed to other parties. Perhaps one has credit card bills, a mortgage, or school loans, all of which have a monetary value. In other words, it would cost a specific amount to reduce them. Debt isn’t always a bad thing! Even more so when debt is used to build an asset, like a house, or to learn something new. When choosing debt as financing, people should always set an upper limit. The aim should be obvious: the assets must grow over time. Income Income is defined as all the money earned during a specific time. People have the option of paying monthly or annually. Though a monthly task is advised to manage cash flow, keeping track of revenue and spending can assist people in meeting short-term goals. Income is divided into two categories: Disposable income: the money that remains after paying the state’s taxes. It is used to cover daily expenses. Discretionary income: after paying for the basics, discretionary money is what remains. Expenses Expenses include all the money spent. This is self-explanatory for monthly costs such as transportation, food, rent, and bills. But don’t forget to include one-time costs like haircuts, vacations, car repairs, and gifts. Setting a budget and keeping track of all rupees spent will help you stay on track by providing an exact total of the spending. Four Basic Rules for Personal Finance Now that the four pillars of personal finance have been covered, let’s discuss the four rules to follow to attain freedom through personal financial planning. Spend less than what is earned This one may seem obvious, but one would be amazed at how many people overlook it. If one spends all that they earn each month, they will never be able to have freedom. Worse, one will constantly be in danger of financial difficulty. Any little hiccup, such as a dental crisis trip, might derail one and put them in more debt. Live within limits and set a nice budget, such as the 50/20/30 rule. It would help if one also looked for ways to boost revenue. Create a crisis fund The expense of living on less than one earns allows one to create a crisis fund. This crisis fund can help weather life’s storms, like losing a job, having the vehicle break down, or visiting the doctor, without relying on high-interest credit cards or loans, which will put one further in debt. Save at least three to six months’ worth of spending. Make debt payback a priority It’s not like all debts are bad, but how people handle them often leads to issues. Poor debt control, like late payments, will hurt a person’s credit record. This might have bad effects if one applies for more loans in the future. Debt may also be stressful since one is concerned about making payments and other expenses. The sooner one becomes free of debt; the less worried one will be. This will result in more scope because one will have to spend the money on tasks they like without worrying about interest payments. One should remain out of debt after being freed from the debt cycle. Clarify between wants and needs Desires are objects and services that are great to have but one could live without, such as luxury cars and watches. Needs are things one needs to live a healthy life, such as shelter, food, water, and healthcare. Combining these two ideas may cause monetary chaos. As a result, don’t trade safety for desires. [B-02] Conclusion Understanding money is not as difficult as people make it out to be. It is apparent and crucial. The path to money literacy begins with the basics, which one cannot neglect due to other fancy things. Try teaching these vital things to be free of debt. Pillars are an architectural system employed in the making of structures. These are used to provide a solid basis for the construction. The same is true for money. One cannot excel at personal finance until one grasps the basic aspects of it. For a promising future, the load of a good life lies on four pillars. For more related information and exciting blogs, visit Piramal Finance and explore their products and services.

Should You Take a Personal Loan to Repay Your Home Loan?

Buying a home is one of the most essential and life-changing decisions for everyone. It is also one of the most significant financial and emotional investments. So, when someone buys their dream house, they may spend a little more than planned. Home loans are fantastic, but sometimes it is hard to make a down payment when unprepared. This is especially the case if one doesn’t want to break their assets or if the house value is too expensive. If someone is in a similar situation and is thinking about getting a personal loan for a down payment on a home loan, read this article to find out if it is a good idea. This article will examine the pros and cons of a personal loan to help people decide if they should use a personal loan to repay their home loan. [B-01] Pros of Taking a Personal Loan for Home Loan Quick access to money People know that getting a personal loan is quick and easy. The lender will send a confirmation once the borrower has completed the application and uploaded all the required documents. After checking the profile and documents, the lender will decide whether or not to grant the loan. And one significant benefit is that all the information about the loan application is sent through emails and/or texts. After submitting all the relevant paperwork, the lending process usually takes 2-7 days, based on the lender’s requirements. Once the money is approved, it can take another one or two days to get it. Before looking elsewhere, a borrower should find out if their current bank has personal loan options. Many banks now offer personal loans that have already been approved and qualified based on a person’s credit history and relationship with the bank. If one wants to apply for a personal loan online with one of these pre-approved offers, the money could reach their account in just a few minutes. Flexible repayment term A personal loan has a flexible repayment period of 1 to 5 years. The borrower can choose this based on his or her needs and preferences. In certain situations, the term can be extended up to 7 years. Also, some small-amount loans through fintech apps can be paid back in 6 to 24 months. Most of the time, though, they are small loans with high-interest rates. No collateral The best part about a personal loan is that one doesn’t have to put up assets as security as is required with a home loan, car loan, loan against property, etc. A guarantor is not required for a personal loan. No need to break invested funds One can sell their investments or borrow from friends or family when they do not have enough money. If they invested as part of a long-term plan for their money, it might not be a good idea to break it. In this case, a personal loan will help. The tax situation Paying back a personal loan does not give a person any tax breaks. But if one uses a personal loan to repay a home loan, they can deduct up to Rs. 2 lakhs per year in interest payments from their taxes. Cons of Taking a Personal Loan for Home Loan Processing charges Most banks and NBFCs charge a portion of the loan for processing. Most of the time, this fee is higher than the one charged for a secured loan. This means that the borrower gets less than what they asked for. A high rate of interest Personal loans tend to have higher interest rates than other types of loans. This is mostly because they are not secured by anything. The 12–20% annual interest rates are 2-3 percentage points more than typical loans. This could make it harder for people who do not have enough money to pay back their loans. Strict rules When it comes to who can get a personal loan, lenders follow very strict rules. Most banks and NBFCs will not even look at an application unless it meets a certain income level. In addition to the applicant’s income, their credit score is also looked at. A poor or average score could cause an application to be turned down. Payment rigidness Borrowers can choose their repayment period. But, most lenders will not let them change it later on. People cannot pay off their loan early or in parts. Instead, they have to pay the full amount. Also, not paying the EMIs on time could lead to legal action, making things harder. Should you Take a Personal Loan or Not? A personal loan has a lot of benefits and it may be tempting to use it to repay a home loan. But, it must be kept in mind that it is the most expensive loan, and one should consider all other options before choosing it. Most people are afraid of breaking their investment funds. Investments ensure a safe and sound future for oneself and their loved ones. If somebody does not want to compromise on their investments, it is in their best interest to choose a personal loan. They can search for the best personal loans and negotiate with their current lender or bank. [B-02] Conclusion Let’s say a person has not saved enough money for a down payment on a home loan. In that case, they might want to take a personal loan. But it must be remembered that a good rule of thumb for borrowing is that people should be able to pay at least 20% as a down payment on a new loan to make payments easier. To learn more about taking a personal loan or a home loan, visit Piramal Finance for information and guidance.

Things to Keep in Mind Before Applying for a Personal Loan for Marriage

With plenty of options for almost everything, people may pick what loan they want and what fits them best. Today, a new type of loan is given for everything. The wedding loan is one of them. Marriages are enjoyed in India like nowhere else on the planet. Getting married is among the most vital events in a person’s life. If it’s their wedding or the wedding of a loved one, they would want to make the day memorable. Though wedding costs vary from person to person, most weddings go over budget. While loans from friends or relatives are possible, the beliefs it brings could be a barrier. They could think about getting a marriage loan in such a case. Let’s know what a marriage loan is and all its important aspects in the upcoming sections. [B-01] What is a Marriage Loan? A marriage loan is also known as a wedding loan. A marriage loan may be used to pay for a wedding. It also involves other costs like a trip or starting a new home, such as decor and other household items. In recent years, many banks and NBFCs have offered marriage loans, which may pay for all wedding-related costs. Almost every bank in the nation offers this kind of loan. It aids the person in paying for their own or a family member’s wedding. Factors to Keep in Mind Before Applying for a Wedding Loan Maintain a Good CIBIL Score A CIBIL rating of 750 or above is good for a personal loan. This score, which runs from 300 to 900, is based on rigorous research and a thorough study of the credit history. A good CIBIL score increases the chances of receiving a wedding loan with a low interest rate and faster approval. Keep The Debt/Income Ratio Low Lenders use the Debt To Income (DTI) ratio to measure their borrowing risk. The ratio of the gross income each month goes toward making the monthly debt duty. A low DTI ratio suggests one is more likely to handle the current and new debt. This improves the chances of getting a personal loan for marriage. Having a low DTI ratio improves the chances of getting rapid financing in the event of an emergency. So, ensure to control the costs by sticking to a budget and not relying on credit. One may reduce this figure by paying off the current debt or lowering it before applying for a wedding loan. Choose The Lender Wisely The market is flooded with lenders. Ensure one chooses the best one for their needs. One may contact lenders, but ensure that they know the pros and cons of each. Anyone with a paid job may apply for a loan using fast lending apps. One may acquire a loan online and have all the relevant papers. Eligibility for a Wedding Loan The eligibility criteria for a personal loan for marriage are as follows: Minimum Age A person must be at least 21 years old to seek a wedding loan. Some lenders have a 23-year-old age limit for wedding loans. Maximum Age Salaried borrowers who want a wedding loan should be no older than 58, while self-employed borrowers should not be older than 65. Monthly Net Income Wedding loans need an income of Rs. 15,000, with some lenders requiring a salary of Rs. 25,000. The present city, age, and other factors may also affect the vital wage need. Type of Jobs If they fulfil the minimum income needs, experts, salaried workers, and self-employed people may apply for wedding loans. Credit Rating Lenders favour approving marriage loans for people with CIBIL scores above 700. A loan may still be approved for men with lower CIBIL scores, although the rates may be higher. Maximum Loan Amount The maximum sum obtained as a wedding loan can vary from lender to lender. It is also based on many other factors, including the ability to repay the loan, the person’s income, and credit score. Yet, loans usually vary from Rs. 5 lakh to Rs. 20 lakh. Documents Needed To Apply for a Wedding Loan Various lenders may request a wide variety of papers during the loan process. The key ones that most of them might ask for from men are given below: Valid Identity Proof Authentic Address Proof Form 16 or the most recent payslip or bank account records reflecting the credited wage for those who are salaried For self-employed people, the most recent six-month bank proof for the primary account, IT filings for the last two years, P&L accounts, and balance sheets. The person must complete and submit the loan form for the wedding loan to the lender along with the required papers How to Apply for a Wedding Loan Wedding loans may be obtained in two ways. One may apply in person at the lender’s location or online. However, the loan process may differ from lender to lender. The online form helps ease the process since one can focus on wedding preparations rather than standing in lines or travelling. Follow these steps to get a personal loan for marriage online: Go to the official website of the preferred lender and fill out the online form. Enter the data correctly and confirm the identity using an OTP. Provide income and KYC details. Choose the sum that is needed and submit the form. [B-02] Final Word Marriages in India may be hectic, resulting in a constant need for more funds. Every day, one must get several emails promising pre-approved or fast personal loans. Getting a loan isn’t harmful as it may come in handy in various areas. However, you have to consider a few things before taking a loan, which are discussed above. Obtaining a personal loan for marriage while defining the reason for the credit as a marriage loan is very fast and simple. As it is a vital day, not just in India and globally, there is a strong possibility that an excessive amount of money would be required. Piramal Finance has similar blogs for readers to help them get a personal loan for marriage. Give the blogs a read and check out the other services they offer.

Personal Loan Refinancing – What is it and How to Get It

Is it possible to refinance your personal loan? If you think so, then you are right. Refinancing a personal loan is one of the best decisions that you can make to not only get out of debt but also save money on interest rates in the long run. Read on to learn about the process and benefits of refinancing your personal loan. [B-01] What is personal loan refinancing? There are many reasons why you might want to refinance your personal loan. Maybe you’re looking for a lower interest rate, a longer repayment term, or a different monthly payment amount. Or maybe you’re simply looking to change lenders.Whatever your reason for refinancing, it’s important to understand the process and what it entails. Personal loan refinancing is taking out a new loan to pay off your existing one. This new loan will have different terms than your original loan, which is why it’s important to compare offers from multiple lenders before making a decision.When you refinance your personal loan, you’ll typically need to go through a similar application process as when you originally applied for the loan. This means submitting financial information and undergoing a credit check. Once approved, you’ll then sign a new loan agreement and begin making payments on your new loan.One thing to keep in mind is that personal loans are typically unsecured, which means they’re not backed by collateral like a car or home. Therefore, refinancing an unsecured personal loan can be more difficult than refinancing a secured loan. However, it’s still possible to find competitive offers if you shop around and compare different lenders. How to get personal loan refinancing If you’re considering refinancing your personal loan, there are a few things you need to know. First, what is personal loan refinancing? Personal loan refinancing is when you take out a new loan with different terms to pay off your existing loan. This can be done for a variety of reasons, such as getting a lower interest rate, extending the length of your loan, or consolidating multiple loans into one.There are a few things to keep in mind when you’re considering personal loan refinancing. First, make sure you understand the terms of your existing loan and what kind of repayment schedule you’re on. If you have good credit, you may be able to qualify for a lower interest rate by refinancing. You’ll also want to compare the fees and charges associated with the new loan against those of your existing loan.To get started, shop around and compare offers from multiple lenders. Once you’ve found the right offer, apply for the loan and provide the necessary documentation. Once approved, sign the paperwork and start making payments on your new loan. Pros and cons of personal loan refinancing There are pros and cons to personal loan refinancing. Some of the pros include being able to get a lower interest rate, having the ability to extend the loan term, and potentially improving your credit score. On the other hand, some of the potential cons include having to pay fees to refinance, losing any special features or benefits that came with your original loan, and ending up with a higher monthly payment.Before you decide on a personal loan refinancing, you must understand both the pros and cons. This way, you can make an informed decision that’s right for you and your financial situation. What to consider before refinancing a personal loan If you’re thinking about refinancing your personal loan, there are a few things to consider first. Depending on your goals, you may be able to save money by refinancing, but it’s not always the right move. Here’s what to think about before you refinance a personal loan: Your current interest rate: If you can get a lower interest rate by refinancing, it may be worth considering. However, if your current rate is already low, it might not make much of a difference. The terms of your new loan: Make sure to compare the terms of the new loan with your current loan. You may be able to get a lower monthly payment by extending the term of the loan, but you’ll end up paying more in interest over time. Any fees associated with refinancing: Some lenders charge fees for personal loan refinancing. Be sure to compare these fees, so you know whether refinancing makes sense for you. Your credit score: Your credit score will impact the interest rate you’re offered when you refinance. If your score has improved since you took out your original loan, you may be able to get a better deal by refinancing. How to compare personal loan offers When you’re shopping for a personal loan, it’s important to compare offers from multiple lenders. Start by looking at the interest rate and fees each lender is charging. You’ll also want to consider the repayment terms, such as the length of the loan and the monthly payment amount.To get the best deal on a personal loan, you’ll need to shop around and compare offers from multiple lenders. Here’s how to compare personal loan offers:1. Look at the interest rate and feesThe first thing you’ll want to look at when comparing personal loan offers is the interest rate and fees each lender is charging. Make sure to compare apples to apples, so you’re looking at the same type of loan with similar terms.2. Consider the repayment termsAnother important factor to consider when comparing personal loan offers is the repayment terms. You’ll want to look at things like the length of the loan and the monthly payment amount. This will help you figure out which loan is right for your budget.3. Shop around and compare offersThe best way to find a great deal on a personal loan is to shop around and compare offers from multiple lenders. By doing your research, you can make sure you’re getting the best possible rate on your loan. [B-02] Conclusion If you’re struggling to make ends meet each month or you’re hoping to consolidate your debts, personal loan refinancing may be a good option for you. By shopping around and comparing rates, you can find a personal loan that fits your needs and helps you save money. Just make sure to do your research, so that you understand the terms of your loan before signing on the dotted line. Refinancing your home loan doesn’t have to be a complicated process. Follow our tips and find out how you can save thousands of dollars by refinancing with Piramal Finance today!

Top Reasons to Take Out a Festive Loan This Holiday Season

Personal Loan in Warangal — Check Eligibility and Apply Online

The city of Warangal still survives as evidence of the might and splendour of ancient India. It is currently one of the cities in the newly created state of Telangana with the quickest growth rates. The expansion of a location is a result of its inhabitants. People’s goals, efforts, and contributions are some of the things that affect the growth of the city. There is undoubtedly a need for financial assistance in a place with so many aspirational minds. You can get support in these cases via a personal loan. The steps required for submitting an online personal loan application have been greatly streamlined. Read on to find out more about how to choose the best personal loan in Warangal. Warangal as a location for finance and personal loans: Warangal is one of India’s largest and fastest-growing cities. For the needs of the booming financial sector, Warangal serves as a loan market. The cost of living in the city is increasing daily, as is the population’s ability to pay. Home loans have always been needed, whether you’re buying a new house, planning your family’s next dream vacation, going to a wedding, or having a medical emergency. [B-01] The availability of personal loans in Warangal makes them more popular, also driving up demand. As a result, Warangal has experienced a tremendous demand for personal loans. Now, almost all of the top financial institutions have locations in Warangal where personal loans can be disbursed quickly and easily. They have previously offered the personal loan option to Warangal’s qualified consumers. Personal Loan in Warangal: Apply Online 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 now 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, then submit your application. Eligibility Criteria for Personal Loan in Warangal Personal loans are an unsecured type of credit with many uses that can be used to pay for various personal expenses. You can obtain a personal loan by meeting modest, pre-established eligibility requirements. The following are the essential requirements for eligibility: Age Age is crucial in determining your capacity to repay a personal loan. If you are a salaried individual between the ages of 21 and 58, you often won’t be turned down for a loan. As a self-employed professional, however, you must be between the ages of 25 and 65. Employment Your tenure, or job length, serves as a gauge of your ability to make timely loan repayments. The requirement for personal loans for salaried workers stipulates that you must be employed by an MNC or a private or public limited company and have a minimum of 2 to 3 years of work experience. Similarly, to qualify for a personal loan, self-employed professionals must have at least three years of experience. Income Each lender has a different minimum salary requirement as part of their eligibility requirements for personal loans. Your monthly minimum wage for a personal loan is Rs. 20,000. Credit Rating Lenders use your credit score, which is derived from your credit history in your credit report, to determine if you are creditworthy or have the potential to repay a personal loan. The amount, length, and terms of the loan that you are provided are all impacted by your credit score. Documents Required for Personal Loan in Warangal Application for a personal loan that has been properly completed and signed Images Passport, voter ID card, driver’s licence, PAN card, Aadhaar card, and government department ID card are all acceptable forms of identification. Evidence of income. Recent wage certificate and Form 16 or most recent pay stub with any deductions (for salaried individuals). Income Tax Returns from the Previous Two Financial Years (for individuals other than salaried employees). Current housing lease agreement, the most recent electricity bill, the most recent phone or mobile bill, and the most recent credit card statement serve as proof of address. Bank pass or statement book with entries from the last six months. Benefits of a Personal Loan in Warangal A personal loan is useful in a variety of circumstances. Anyone who meets the eligibility requirements can apply for a personal loan because they are not required to pledge any collateral. It is not limited to a small number of uses. You can apply for a personal loan to fulfil whatever financial needs you have. Before choosing a Warangal immediate personal loan, it would be quite good to grasp the characteristics and benefits. Here are a few of the main advantages: There is no need for security or collateral to obtain a personal loan. If you’re eligible, you’ll get instant approval, and the money will be sent to you the next day. Instant loans in Warangal that are flexible and adaptable are no longer a pipe dream. You can use it for travel, house improvements, or any other need you may have. Durations of repayment range from one to five years. You can get a loan for up to Rs. 25 lakhs. [B-02] Wrapping up You can easily obtain a personal loan in Warangal without worrying about anything. In Warangal, 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.