More articles for you

Your one stop place for everything related to finance and lending

Personal Loan

Personal Loan In Mumbai, Mira Bhayandar. Check Eligibility & Apply Online

Mira Bhayandar is a municipality fed mainly by the Vasai Creek in the Thane district. It has been a residential area since its inception. Day by day the cost of living and inflation is on a rising state and maintaining a good lifestyle is hardly affordable. A personal loan will help to serve you the basic requirement for dayly lifestyle. You can experience a hassle-free, quick, and easy application for personal loan at Piramal Finance, with no pre-payment or foreclosure fees. Get in touch with their team of knowledgeable advisors, who help eligible applicants through the whole application process. They guarantee prompt approval and deposit it into the latter’s account. [B-01] What is a personal loan? An unsecured loan given without any form of security, similar to credit cards, is called a personal loan. Since personal loans are provided in good faith, the lender assesses a higher interest rate. Different lenders have varying interest rates for personal loans. The rate ranges from 8% to 30%, based on factors like creditworthiness, loan length, and loan purpose. Although personal loans come with a higher rate of interest than (many) loans like a home loan or a car loan, they help when it comes to emergencies. Types of personal loans To obtain a personal loan in Mumbai – Mira Bhayandar, you must be looking for either of the following: Travel loan One might wish to explore the Salsette island adjacent to Vasai Creek and stay there for a month. What if the hotel rates are soaring? What if food is not easily accessible or off-budget? There’s no need to cancel or delay the trip. Piramal Finance offers travel loans and loans for second homes with interest rates as low as 10.5%. Home renovation loan Mira Bhayandar has an equal share of old and new residential colonies and societies. Most of the older ones are in poor condition, at least in the interiors. You would want your newly bought or rented flat to be a better place to live in or, at least, on par with your neighbours and guests. Why not get a quick home renovation loan at a minimum rate of 10.5% PA? Wedding loan In India, a wedding is more important than birth or death. People tend to spend the most on this occasion, whatever their economic status might be. Nowadays, there is a trend of pre-wedding shoots that cost almost as much as the wedding. To meet these mammoth expenses, a wedding loan must be the first step. Festival loan Be it Eid-ul-Adha or Bestu Varsa, Mira Bhayandar is forever festive. Some people might flinch from investing in fireworks and food due to a lack of immediate funds. Why stay aloof and not be a part of society when it is the easiest to avail of a personal loan in Mumba – Mira Bhayandar? Medical loan Hospital charges and the cost of medicines are unpredictable and can never be budgeted. Government hospitals are always full, and private clinics seem unaffordable. But you can’t wait in a medical emergency. You can avail of a personal loan in Mumbai- Mira Bhayandar of up to Rs 25 lakhs for 5–6 years from Piramal Finance to pay for lab tests at Metropolis, for instance. Features of a personal loan The debtor has to pay zero prepayment and foreclosure charges. Loans can be taken for between Rs 1 lakh and Rs 10 lakh. Minimum documentation is required. Quick sanctions and instant disbursals save time. Monthly EMIs are always within the borrower’s budget. One can avail of a repayment tenure, flexible between 12 months to 60 months. Piramal Finance allows the clubbing of incomes for higher loan eligibility. Who is eligible for a personal loan in Mumbai – Mira Bhayandar? Salaried employees For those who belong to either of the following: government institutions, private sector, public sector, MNCs or related companies, partnership firms, or proprietorship concerns, the requirements are: Age ranges from 21 to 60 years. Income should be Rs. 25,000 per month and above. Work experience should be a minimum of six months in the current organisation. Self-employed Age must be between 23 and 70 years. Employment: a. Professionals like doctors (MBBS, MD, or MS), CAs, or architects are eligible.b. Non-professionals like business owners, partners, proprietors, or promoters/directors of private and public limited companies can apply. Procedure to apply for a personal loan in Mumbai – Mira Bhayandar The easiest procedure to apply online for a personal loan involves logging onto Piramal Finance’s official website. Visit Piramal Finance and select Personal Loan from the main menu. Select “How to Apply” or scroll down and find the same heading. Click the link under “How to Apply.” A dialogue box will pop up. It is a form called Quick Apply. Fill out the required fields and enter the captcha (you aren’t a robot!). For your reassurance, read the website usage and privacy policy before checking or ticking. Click “Submit” to get in touch with a relationship manager. [B-02] Conclusion An eligible applicant never goes empty-handed once you have your requirements. Piramal specialises in housing and housing-related loans, apart from personal or business loans for beginners or small-scale investors. If this blog/article has been enlightening enough, especially if a personal loan in Mumbai – Mira Bhayandar is sought after, please log on to Piramal Finance. The experts are ready to help you in the best way possible, based on your needs and qualifications.

08-11-2023

Personal Loan

Personal loan in Kadappa – Check Eligibility and Apply Online

A personal loan can help fund your needs. It can help manage your debt. Also, it can help finance a purchase and cover unknown expenses. A personal loan can be useful for many other purposes. You must check the eligibility criteria when applying for a personal loan in Kadappa. Most personal loans have a minimum income and employment requirement. You will also need a good credit history. It will help you qualify for a competitive interest rate. You can apply for a personal loan online in a few minutes. All you need to do is gather all the necessary information. The application process is usually quick. You will get the funds in your account within a few days if they are approved. [B-01] Eligibility criteria for a personal loan in Kadappa To get a personal loan in Kadappa, a person needs to meet the following criteria: The individual must be a salaried professional. The applicants must be working at a government institution, an MNC, or a related company. They could also be with a partnership firm or a private or public sector enterprise. The individual must be between 21 and 60 years of age. They must have a minimum monthly income of INR 25,000. The applicant must have a minimum of six months of work experience in the current organisation. They must also have a good credit history. It is ideal to have a CIBIL score of 750 or above. The individual must have valid documents. This includes proof of income, identity proof, address proof, etc. Features of a personal loan in Kadappa There are various features of a personal loan in Kadappa. These include the following: You can use a personal loan in Kadappa to fund a wedding or home renovation. Such a loan is useful for medical expenses as well. Personal loans have a fixed interest rate. It means your monthly payments will remain the same for the loan tenure. Budgeting for these loans is easier than other loan options. Kadappa personal loans have a flexible repayment period. You can choose how long you have to repay the loan. You can save on interest on these loans. You can do so if you pay off the loan earlier than the set period of loan repayment. A personal loan in Kadappa does not have any prepayment penalties. You can make extra payments or pay off the loan early without paying any extra fees. Documents required to apply for a personal loan in Kadappa You will need to provide certain documents when applying for a personal loan in Kadappa. These include the following: A PAN Card: The Income Tax Department of India issues this document. It is a 10-digit alphanumeric number. It is useful in various financial documents. This includes income tax returns, TDS returns, etc. Proof of identity (any one of the following): Passport: A passport is a document that proves your identity and citizenship. Driving Licence: A driving licence is an official document. It permits an individual to operate a motor vehicle. Aadhaar Card: It is a unique 12-digit identification number. The Government of India issues the card to every Indian resident. It serves as proof of identity and address. It can be used for various purposes. Voter’s Identity Card: A voter’s ID card is an important document in India. It is helpful for identification purposes. Proof of Address (any one of the following): Passport. Driving Licence. Aadhaar Card. Voter’s identity card. Utility bills, such as electricity bills, telephone bills, etc. Lease or rent agreement. Proof of Income (any one of the following): Salary slips from the last month Bank statements from the previous three months How to apply online for a personal loan in Kadappa It is simple to apply for a personal loan in Kadappa online. Many online lenders offer personal loans. You can get competitive interest rates with them. All you need to do is compare the different lenders. Then, you can choose the one that best suits your needs. You will need to fill out an online application form. This is the first step to applying for a loan. This form will require that you provide personal information. This includes your name, address, phone number, and email address. You will also need to provide financial information. This includes your income, debts, and assets. Your application will be reviewed after you provide all the information. A loan officer will contact you to discuss loan options. They will decide if you can get a personal loan. After approval, the funds will be sent to your bank account. You can use the funds for any purpose you desire. Benefits of a personal loan in Kadappa A personal loan in Kadappa can have numerous advantages. Here are a few examples: It can help you manage your debts by consolidating them into one monthly payment. A personal loan in Kadappa can improve your credit score. This can be achieved by making timely payments. Personal loans can allow you to use the funds for any purpose. Personal loans have lower interest rates than credit cards. They can save you money. [B-02] The final word A personal loan in Kadappa can help you meet your financial needs. You can compare different options to find the right one. Check their relevant rates, terms, and fees. The interest rates on personal loans in Kadappa are very reasonable. Also, the repayment tenure is flexible. Thus, it is a good option for borrowers. You can also apply for a personal loan in Kadappa with the help of Piramal Finance. The organisation offers competitive rates of interest on personal loan and an easy application process.

08-11-2023

Personal Loan

Personal Loan in Mumbai, Goregaon. Check Eligibility & Apply Online

It is high time you start saving and cutting down on expenses so you can get your dream car or that expensive motorcycle you always wanted to have. Looking for a personal loan in Mumbai but still not finding a way to swim through it? Well, then this is the right place for you to look. Here’s everything you need to know about personal loans, documents needed, eligibility, and how to apply for a personal loan in Mumbai. [B-01] What is a personal loan? To put it in a phrase, a personal loan is an “unsecured loan” availed to meet your personal needs, from financing a vacation to funding higher education for your children. It can be taken from both organised and unorganised sectors. The organised sector is preferable due to lower interest rates and the choice of the applicant. You can get a personal loan in Mumbai for up to INR 40 lakhs from both banks and private lenders. However, this amount is very subjective and depends on the person’s means. Mumbai as a location: Mumbai, the “dream city,” also happens to be India’s largest economy. Its contribution to the GDP is about $600 billion, which is a huge number. Being the entertainment, fashion, and commerce hub of the country, it adds 6.2% to the country’s GDP. With such a big number, it could be very tough to get a personal loan in Mumbai, mainly for the middle class. But, with the correct approach, you can easily get your loan in an instant. What are the points to consider when applying for a personal loan in Mumbai? Here are some important points you should keep in mind: Analyse the eligibility criteria carefully. While most of the banks in Mumbai have the same kinds of eligibility and needs, the difference is in the “terms and conditions.” You should go to the official website of the bank and read all the terms. In case you don’t get anything, you should either directly call the bank or ask your advisor about this. See what interest rate they are asking for: Banks charge lower rates of interest in comparison to private financiers. Some private financiers charge higher rates of interest, and rarely is the payment mode designed according to your needs. Sometimes private financiers have “hidden interest rates,” which could be difficult to identify. Banks try to provide you with comfort and convenience and charge a lower interest rate. The period of repayment is generally long, mostly between 1 and 5 years. You also have tailoring options where you can optimise the loan amount, the interest rate, and the mode of payment according to your requirements. Filling one application at a time: Some people try to fill out multiple applications while applying for a personal loan in Mumbai. However, this can sometimes backfire and increase the load on your credit score. It is best to show patience and apply for one at a particular time. Eligibility criteria to apply for a personal loan in Mumbai Here is a list of items you must cover to apply for a personal loan in Mumbai. Some of these rules may vary from bank to bank. You must be in the age range of 21 to 65 years. Nationality: Indian You must be a salaried employee of a good company or a government body, a professional, or a self-employed businessperson to get a personal loan in Mumbai. A handsome credit score is always preferable. To get better options, lower interest rates, and quick approval, a credit score of 750 or more is desirable. Some banks also look for your work experience. Most of the time, salaried people need one to two years of experience and businesspeople need two years of experience to be eligible. Documents required to apply online: There are some basic documents required to apply for a personal loan in Mumbai. Some of them are your KYC details, like your Aadhar card, voter ID card, etc., which should cover up your ID proof and address proof. You will also be asked for proof of your income, which could be your salary slips, bank statements, recent IT returns, etc. Some banks might also ask about your current loan situation and your liabilities before handing over the amount. If you have a large loan amount that is yet to be repaid, chances are you might face some reduction in the loan amount. Steps to apply for a personal loan in Mumbai online: Go to the website of the bank from which you chose to get your personal loan. You will be asked for your 10-digit mobile number that is linked to the bank. Enter your phone number and the OTP that is instantly sent to your phone. When the application form shows up on the screen, enter your basic details, like your name, age, address, loan amount, etc. After this, you will come to the last page where you will be asked for documents like your ID proof, address proof, PAN card (sometimes), bank statements, income proof, etc. Fill in all of them carefully. Click on “Proceed” and submit your application, and make sure you visit the page regularly to know about updates. [B-02] Conclusion Sometimes, getting a personal loan in Mumbai seems tough, but with the correct approach and enquiry, you can crack that easily. Interest rates vary, and banks charge different amounts based on each person’s situation, but the lowest rate is 10.5% per year. Your utmost priority should be checking all the schemes that your bank is going to provide before you go for a personal loan in Mumbai. Make sure that you have a good CIBIL score so that you get more handsome offers. If you need help with finances, you can always take the help of experts such as Piramal Finance to guide you through your personal finance woes. Talk to your financial advisor or a bank employee directly about the loan process to avoid any kind of trouble.

08-11-2023

Personal Loan

Personal Loan in Meerut. Check Eligibility & Apply Online

Looking for a personal loan in Meerut to finance a marriage? Finding ways to fund your child’s higher education abroad? Want to know about the downside and risk factors of a personal loan? Well, this could be the right place to know whether you should apply for a personal loan in Meerut. In this article, we will bring up all the points regarding a personal loan, the documents you require, the eligibility criteria, the latest interest rates, and how to apply online. [B-01] Meerut, as a place to look for a personal loan: Meerut serves a greater purpose in economic activity and commerce. Since infrastructure and investment growth are rapid, it could be tough for you to apply for a personal loan in Meerut. Numerous banks are coming up now and then with new and popular schemes to help you out. To get a personal loan, you might need to make sure you have the right knowledge, weigh the pros and cons, and be aware of the cons. Is a personal loan in Meerut the right fit for you? This is the first question you should ask yourself because if it fits your convenience and you are confident about it, you should give it a try. To know whether a personal loan in Meerut is appropriate or not, consider these points: Credit Score: Your credit score will increase periodically if you pay your instalments on time. This is a big advantage of a personal loan in Meerut. But if by any chance, you fail to pay on time, your credit score will be negatively affected. Interest rate: Most banks in Meerut charge you a low-interest rate so you can easily pay off your debt. But, in the worst-case scenario, if the economy crashes or the indebtedness ratio increases, you might also have to pay more. You should be ready for all the possibilities that will come your way. Fees and Penalties: You should know the fees and penalties while applying for a personal loan in Meerut. There is also a term called “pre-payment penalty,” which you must pay if you pay the whole debt before the scheduled time. There are many other aspects you should be looking for as well, like updates from your banks regarding loans, your current loan status, etc. What are the interest rates in Meerut for a personal loan? Interest rates in Meerut vary from bank to bank, but most start from 9.60% to 20%. A personal loan in Meerut of about 30 lakhs might cost you around 10 per cent on average. You must pay the fees in monthly instalments over a period of one to five years. For example, the State Bank of India charges you between 9.60% to 15.65% for 20 lakhs. You have six years to repay your borrowed money. Similarly, Citibank charges between 9.90% and 16.49% on loans of up to Rs 30 lakh that must be repaid within one to five years. This percentage varies from bank to bank but is comparatively less than what private financiers or online loan organisations would charge. Eligibility criteria to apply for a personal loan in Meerut: You have to fulfil certain criteria to be eligible to apply for a personal loan in Meerut. Age limit: You must be at least 21 years old and not more than 65 years old if you want to apply for a personal loan in Meerut. This age limit is subjective, but this stands to be the average group that banks expect. Nationality: Your nationality must be Indian to apply for a personal loan in Meerut. Employment: You should be a salaried employee working under a government or a private organisation, a working professional, or a business person. Income: For a salaried individual, the monthly income should be between 25 and 30 thousand rupees. As a businessperson, you should make between 12 and 15 lakh rupees per year. Work experience: You should have working experience of at least two years to apply for a personal loan in Meerut if you are a salaried individual. For a businessperson, the working experience should be around two to four years. Credit score: Your credit score is vital to getting a low interest rate. If you have a credit score of about 750, your loan will be quickly approved, and you will get some extra benefits from the bank. How to apply online? Here are the steps you should follow to apply for a personal loan in Meerut. This is what most banks ask. However, this might also vary in some cases. Go to the website of the desired bank and click on “Apply” on the application page. Enter your mobile number connected with the bank and verify it by entering the OTP sent to your number within seconds. Enter details like your full name, your current address, your PAN, your pincode, your date of birth, etc. Choose what type of loan you prefer (term, flexi-term, or flexi-hybrid), how much money you want to borrow, and the payment tenure. Now you are required to submit all your official documents, like your ID proof, photographs, address proof, income proof, bank statements, IT returns, etc. After you are done, quickly recheck and click on “Proceed.” [B-02] Wrapping it up: A personal loan could be magical for you if you are looking for a big payment at once. Use a personal loan EMI calculator to get a rough idea of the payment amount, interest rate, and tenure. You should visit the official website of Piramal Finance. They have some highly engaging content regarding personal loans and provide all types of financial assistance. In addition, talk to bank executives about the loan system, the downside, and all the risks before you apply for a personal loan in Meerut. Assess all the possibilities by self-research, talking to the people who have already taken the loan and your financial advisor.

08-11-2023

Personal Loan

How to Get A Personal Loan Without PAN Card

When participating in high-value financial transactions such as purchasing a car or home, making investments in the stock market, or asking for a loan, one is required to provide a PAN card, which is an essential document. Because it keeps track of all financial transactions, it is important to follow the rules about taxes. This is to stop people and businesses from trying to avoid paying taxes. If a borrower has a PAN card, it is easier for lenders to evaluate their risk profile, creditworthiness, and whether or not they will be able to return the loan on time. Your Permanent Account Number (PAN) card is a very important piece of identification that you need in many different situations, like when you can’t borrow money. Nevertheless, you can apply for a speedy loan even if you do not have a PAN card. Personal loans are a type of unsecured loan that doesn’t need collateral and has a reduced paperwork requirement compared to secured loans. Verify the legitimacy of any potential loan providers if they are willing to lend to you without seeing your PAN card. [B-01] Ways to get a personal loan without a PAN card If you want to get a personal loan, you have to show your PAN card as part of the application process. This is because tax laws require it. The standards for this have been imposed by financial lenders. If the amount of the personal loan is low, say anything that is less than 50,000 rupees, it is possible to receive a personal loan without giving a PAN card. This is the case in India. But, as per the needs of the vast majority of financial institutions, the PAN card must be shown. When applying for a personal loan, using the PAN card number is acceptable even if the applicant has misplaced their PAN card. What to do if you want a loan without a PAN Card? If you need a personal loan without a PAN card or any other type of loan, credit card, or another financial instrument in India, you’ll need a PAN card. Applying for a PAN card can be done in two different ways: offline and online. The procedure is very easy and won’t use too much of your time. Applying for a new PAN card online can be done through either the NSDL or UTIITSL portals. A new PAN card costs Rs 94 (not including GST), and you can pay for it using any major debit/credit card or online banking service. To apply for a PAN card offline, you’ll need to grab a copy of Form 49A either from NSDL or UTITSL, fill it out, and drop it off at your nearest PAN service center. You can also have a close relative apply for a personal loan on your behalf if they have a PAN card, a high credit score, and a reliable source of income. If this is the case, the family member will be responsible for making payments. How to Get a Personal Loan Without a PAN Card Right Away? Most lenders need applicants to provide their Aadhar card and permanent account number to qualify for a fast personal loan. Personal loans without a PAN card would face raised scrutiny. Until you get your new PAN card, here are some things to keep in mind: An Excellent Credit Report If a borrower doesn’t have a PAN card, lenders may be hesitant to give them credit as they don’t know about their income and expenses. Having a high credit score is one of the finest ways to know about reliability. If your credit score is over 750, you can be confident in your ability to make and keep financial commitments. If your credit score is low, you can raise it by paying on time, paying off your balances, and keeping your utilization ratio below 30%. Also, you should check your credit report for any mistakes. Reduced debt to income The debt-to-income (DTI) ratio shows if your current income is enough to pay off all of your debts, including those you have now and those you owe from the past. You can still prove your credibility and ability to repay the loan even if you don’t have a PAN card by keeping your debt-to-income ratio below or equal to 50%. Solid History of Communication With The Lender If you are already a client, lenders may extend credit to you even if you do not have a PAN card. Further, it will be of your help if you have a solid credit history. Please Provide a Copy of Your Bank Statement Your bank statement might be helpful for lenders to review your financial history and make a lending decision. It also shows your monthly income and expenses, as well as any payments you make. Lenders will still need proof of income in the form of a bank statement or pay stub if you don’t have a PAN card. Pay with your Aadhar cardSince your Aadhar and PAN cards are linked and serve as the foundation of your KYC verification, you can submit either one. [B-02] Conclusion When you’re in a financial crisis, a personal loan might be a lifesaver. There are other ways to apply for a loan besides a PAN card. Before applying for a loan, you need to make sure you meet the lender’s requirements. Personal loans without a PAN card may not be available from all lenders, even if you meet their needs. PAN card applications can be submitted electronically or manually and can help people obtain personal loans with less red tape. You can get a loan quickly from a relative who has a PAN card if you need financial help. To read more such informative articles, visit https://www.piramalfinance.com/ right now!

08-11-2023

Personal Loan

Personal Loan In Indore: What’s New And What’s Not?

What is a Personal Loan? A personal loan is an unsecured loan. It is a fixed amount of money that you can avail for any personal use. A personal loan has a repayment period of one to ten years. Furthermore, the interest rate on such loans does not change over time. With such loans, you need minimum documentation. You do not need any security to avail yourself of a personal loan. [B-01] Benefits of a Personal Loan A personal loan is commonly known as a consumer loan. It is a multipurpose loan that you can use for any immediate purpose. There are many advantages to getting a personal loan. Let us have a look at them: With gold loans or home loans, you need several documents. But in the case of a personal loan, you only need a few of them. They are easy to get if you have a credit score. Also, the process is easy and quick. Once the lender knows about your repayment history, you can get the money instantly. It does take time to process other types of loans. The best part about getting a personal loan is that you can decide your tenure. It offers flexible tenure options. You can choose one that suits your budget. How does a personal loan in Indore work? The process for personal loans works in the same way as other loans. Let us have a look at the steps you need to do to get a personal loan in Indore: The first step is to apply for a personal loan. Before applying, you will have to check your eligibility. If you are eligible, you can apply online. The second step involves submitting the necessary documents. Once you submit all documents, the bank will verify details like your credit score. This score is indicative of how well you can repay the loan. If your score is good, the bank will offer you a loan amount. Now you can choose to accept the loan offer. Once you accept the offer, the amount will be transferred to your account. Documents for a Personal Loan Identity proof Residence proof Income proof (ITR forms, salary slips) Copies of degree certificates License What are the types of personal loans? There are four basic types of personal loans in Indore: Specialised Lenders: Some companies offer personal loans to customers. This helps the customer with the financing of products. For example, such lenders can offer financing options when you buy a new device. Unsecured Loans: The majority of personal loans are unsecured. This means you do not need to provide any security for getting these loans. With such a personal loan, you get the amount instantly in your bank account. You will need to repay it in terms of EMI every month. Credit Builder Loans: These types of loans are credited to your account. However, the lender controls them. Instead, you make regular payments during the loan course. In this period, the lender helps you build a good repayment history. This will give you a good credit score. Secured Loans: With these loans, you will need some kind of security. Depending on your security, you can get a personal loan in Indore. Not paying the instalments on time may lead to losing your assets. Mistakes to avoid while applying for a personal loan Are you planning to apply for a personal loan in Indore? Then there are some common mistakes you should avoid: Not researching enough: Before you apply for a personal loan in Indore, do your research. Talk to multiple lenders. Get to know their interest rates, among other details. This will help you save money. Also, you will be able to get a good deal. Taking more money than necessary: Not repaying the instalments can lead to a negative credit score. This will prevent you from taking loans in the future. To save you from this, use a repayment calculator. This will give you an idea of the monthly payments. Only if it fits your budget should you go ahead with the loan. Not knowing the loan costs: Even if you know the interest rate, you should keep an eye on the loan tenure. Sometimes the repayment amount is less. But the tenure is high, which leads you to pay more. So do your research and keep your options open. [B-02] Why are personal loans family-friendly? Today, a majority of individuals are choosing personal loans. These loans allow people to fulfil their larger expenses. An advantage of personal loans is that they are easy to process. You receive the funds quickly in your bank. If you need more details, visit the Piramal Finance website. They will provide you with all of the information you need about personal loans. So, what are you waiting for? Get a personal loan in Indore today.

08-11-2023

Personal Loan

Apply Online For Low-Interest Rate and Low EMI Personal Loans In Lucknow

Personal loans are unsecured loans, meaning that you can request one without putting up any collateral. The purpose of loan money is also not restricted by the lender. It can be used for a family trip, a medical emergency, or a business need. Debt repayment is another possible use, especially since personal loans in Lucknow have lower interest rates than credit cards. There are many banks in Lucknow, the state capital of Uttar Pradesh, that give personal loans at reasonable rates and fees. Loan amounts of up to Rs 30 lacs can be availed, with interest rates starting at 9.60%. An easy way to apply for a personal loan in Lucknow is through a lender that needs little paperwork, has low processing fees, and offers money quickly. [B-01] Documents Needed to Apply for a Personal Loan To get a personal loan in Lucknow, you need to submit these documents: Completed loan application form. Passport-size photo attached to the form. ID Proof: PAN card, voter ID, driver’s license, Aadhaar card, or passport. Address Proof: Aadhar card, copy of ration card, voter ID, driver’s licence, passport, electricity bill, or gas connection bills. Age verification: Aadhar card, birth certificate, SSC certificate, voter ID, PAN card, ITR, or Form 16 for the last three years. Three most recent payslips Bank account statement for the last six months How Can I Get a Personal Loan in Lucknow with the Lowest Interest Rate? When looking for a personal loan in Lucknow, take care of the following factors: Well-filled Loan Application A well-written loan application is your best option for getting a good rate of interest from the lender. Even if it is simple to apply for a personal loan in Lucknow, you must realise that the lender has the final say in your loan sanction. This is why you need to ensure that your loan application is thorough. Good Credit Score When applying for a personal loan, your chances can improve if you have a high credit score. Lenders are more likely to give loans to people with credit scores of 750 or higher because it means that you are less likely to go into default. Your credit score also affects the interest rate. If your credit score is high, you will be offered a lower interest rate. Manageable Loan Amount When asking for a personal loan, it is also vital to take stock of your fiscal situation. Make sure that you are not borrowing too much or too little money. Taking more money than you need means you will have to pay the lender more interest. If you borrow less than what you need, you may find yourself short on money and will need another loan to cover your expenses. So, borrow exactly how much you need. You should look for the best interest rate for a personal loan in Lucknow, find the lender that offers it, and then apply for a loan amount that meets your needs. Why Should You Consider a Personal Loan in Lucknow? Some key benefits of personal loans over other types of loans are No Securities: Personal loans do not demand any assets like property or gold as security. The applicants’ monthly or yearly income serves as collateral for the loan. Interest Rates: The interest rate on these loans is competitive. Some NBFCs or banks offer the lowest personal loan rates in the market. Tenure: The tenure for a personal loan in Lucknow can be as long as five years. Quick Processing: After the paperwork has been verified, the loan amount is processed immediately. EMIs: Lenders consider your financial situation in their loan calculations. The loan amount is fixed by your ability to pay the money on time. Less Documentation: To apply online for a personal loan in Lucknow, you need a few primary documents. Credit Score: Personal loans help with raising your credit score. Our team at Piramal Finance handles your credit needs and locates a solid personal loan offer. We consider all the offers and choose the one that is best for you. Piramal Finance has online services that you can use to get a personal loan in Lucknow instead of going to a bank. Eligibility Criteria for a Personal Loan in Lucknow An applicant for a personal loan must fulfil the following criteria to be sanctioned: Anyone applying for a personal loan must be between the ages of 20 and 65 years. People who own a business, are independent contractors, or are salaried or self-employed can apply. (If you do not fit this criterion, your bank manager is the best person to advise you.) Salaries people must have a minimum monthly income of Rs.15,000. This number can vary depending on factors including location and employer. You should have been residing at the same location (city or address) for two years. Work experience of at least two years is preferred. A regular and stable professional history is a must. [B-02] Conclusion The availability of personal loans in Lucknow is at a high right now, and it is only going to rise. Applying for personal loans is very easy. Once the loan is authorised, the money is sent to you within hours. Also, the repayment terms for these loans are flexible. Piramal Finance ensures that all those people can take out a personal loan in Lucknow in no time and with no hassle. If you need a bit of advice on where to apply for a loan and how to do so, you should get in touch with Piramal Finance. Here, you will also find other such articles and many financial services and products to interest you.

08-11-2023

Personal Loan

Personal Loan In Jaipur, MI Road. Check Eligibility & Apply Online

A personal loan is one of the most common types of loans in India. One can apply for a personal loan for any number of purposes. You can pay off your credit card bills or other expenses. The loan amount can vary depending on your income and requirements. To apply for a personal loan in Jaipur, MI Road, you must meet all loan eligibility requirements. [B-01] Are You from MI Road and Need a Personal Loan? Jaipur – MI Road residents searching for personal loan eligibility criteria should apply before the end of this month. You need a good credit score if you seek loans from banks and other financial institutions. The interest rate on all personal loan products is fixed for the entire tenure of the loan. Whether your credit score goes up or down during the time you have the loan, your EMI will stay the same. Checking Your Eligibility Every lender sets eligibility criteria to determine the borrower’s creditworthiness and repayment capacity. To check your eligibility for a personal loan, you need to submit the relevant documents. The documents required by each lender differ slightly. However, you will have to provide proof of your income and address. You can also check your eligibility online. Most lenders offer a pre-approval service that lets you see your loan amount and the monthly payment (EMI) before you apply. Valid Identity Proof Passport Driving License Voter ID card PAN Card Valid Address Proof Address proof is a document that shows the address of the applicant. It can be any one of the following: Passport, Driving license, Voter ID card, or Aadhaar card Income Proof Salary slip Two-year ITR Bank Statement Form 16 (income tax return) Form 2A (income tax). You can submit your salary slips as proof of income if you have a salaried job. If you are self-employed and do not receive a regular salary, you will need to furnish other documents, such as bank statements and tax returns. The lender will verify your credit score and financial status with the help of a credit bureau. This is to ensure that you have no adverse payment history. Steps to Determine Loan Eligibility If you have applied for a personal loan in Jaipur – MI Road, then you can check your eligibility by following these steps: Visit the website of your preferred financing institution. Go to their loans page and click on “personal loans.” Fill in the form that pops up next. Enter your details, including your name, email address, and phone number. Include a copy of your ID (Pan Card or Aadhaar Card) and proof of your address (a utility bill or bank statement). You will be asked to put in your name, where you work, how much money you make each month, and other financial information. Enter your personal information, including the bank account number and other details. Click on “Submit.” You can apply for a personal loan in Jaipur – MI Road with the help of this guide. You will find all the information you need before applying for a personal loan. Personal Loan Eligibility Criteria The eligibility criteria for a personal loan in Jaipur – MI Road differs from lender to lender. However, some general requirements are: Personal Loan Eligibility Criteria You must be an Indian citizen. You must have a regular source of income. You have an active bank account in India. You must be a salaried employee with a regular income. In the case of self-employment, you must have had a bank account for at least two years. Your age should be above 21 years and below 60 years at the time of application. Your monthly income should be greater than INR 12,000. Personal loans and CIBIL score A CIBIL score is a credit score used by banks and other financial institutions to assess an applicant’s creditworthiness. It is based on the information in your credit report, which may contain mistakes or errors. Lenders can use this score to decide whether you get a loan, at what rate, and with what terms. The CIBIL Score gives you an idea of how likely it is that you will pay back your loans as agreed. A higher CIBIL score means you’re more likely to repay your debt on time than someone with a lower score. Factors Affecting the Personal Loan EMI Calculator Results An EMI calculator will help you determine whether you can afford a personal loan and the monthly repayment amount. But it won’t tell you about bank interest rates or EMIs on different products offered by them, nor will it provide any information about promotional offers that may be available in some cases at lower rates than normal ones. The personal loan EMI calculator results are based on the following factors: Your CIBIL score. Your Age. Your Income. The loan tenure (loan period). The loan amount you wish to borrow. The interest rate that your bank charges for this loan segment (as applicable). Steps to Apply for a Personal Loan Online You can apply for personal loan in minutes provided that you have all the nex`cessary documents handy. Below are the steps that you need to follow: Log on to the lender’s website or visit a branch and inquire. Fill up the application form with your details, income proof, and repayment ability statement. Pay the application fee. Send in the paperwork the lender asks for. For salaried people, this could be a pay stub or a bank statement. For self-employed people, it could be tax documents. Your loan will be sanctioned. [B-02] Conclusion A personal loan is an excellent option for those who want to get money quickly without worrying about their credit. It’s also a good choice if you’re looking to consolidate debt or pay off some bills before they come due—basically, any situation where you need an emergency infusion of cash. Before taking a loan, carefully read all the requirements, terms, and conditions. If you need help, don’t hesitate to call our experts at Piramal Finance. We give you full assistance at every step to make the process of getting credit easier and less stressful.

08-11-2023

Home Loan

Things You Should Know About A Secured Loan

There are many different types of loans that people can borrow from creditors, like banks, microfinance banks, and so on. Even investment funds offer loans, but at a higher interest rate. In most cases, people won’t have to provide any collateral or mortgage. For instance, students won’t have to pay any mortgage upfront while taking out an educational loan. This loan type is termed an “unsecured loan” because the creditor won’t be able to get the money back by using any collateral if the borrower fails to repay the debt. This is why many creditors offer secured loans. Most people need help understanding the fundamental aspects of this credit type and the advanced aspects. To help you out, we have discussed some of the best aspects of a secured loan that one should know. [B-01] What is a secured loan? From the name itself, you can understand that a secured loan is a type of credit offered based on collateral or a mortgage. For instance, you can give a specific part of your house as the mortgage based on the credit value you need to borrow. You can also keep your car, business, factory, and several other things as collateral. It will ultimately depend on the creditor, the terms and conditions of the secured loan, and the valuation you want. It is mainly offered to ensure the investment made by the creditor doesn’t go in vain. Workings of a secured loan The workings of a secured loan are easy to understand. Every loan is divided into monthly instalments comprising the principal amount and the interest to be paid. If the borrower fails to make the payments, a notice is sent as a reminder for the first and second months. But as the debt amount increases, it becomes impossible for the borrower to repay it by the due date. As a result, the creditor uses the mortgage to get the valuation and repay the debt the borrower has failed to pay. However, it needs to be done in a legal way where the borrower will be given a final notice from the creditor, and even then, if he doesn’t repay the loan, the mortgage will be forfeited. Types of secured loan There are different types of secured loans you can take from the creditor. Some of these are: Vehicle loans Mortgage loans Secured credits Bad credit loans Life insurance loans Car title loans Savings-secured loans Pawnshop loans Based on the loan type, the security item varies. For example, if you want a vehicle loan, the concerned vehicle will be given as security. Similarly, you must use your home as collateral for a mortgage loan. For a savings-secured loan, the amount present in the savings account will be kept as collateral for the credit amount. Advantages of a secured loan for a borrower It is better to understand the benefits of the secured loan because that will help you decide whether you want to give up something as collateral. One of the most significant benefits of a secured loan is lower interest. Usually, the creditors charge a higher interest rate owing to the risks associated with the loan you want to take out. But if you take a secured loan, the creditor can use the collateral to get the required money to pay off the debts. As a result, it will become easier for you to pay off the instalments due to less interest rate. Another benefit of a secured loan is that it allows for a more extensive principal valuation than unsecured loans. The creditor knows he can use the collateral to evaluate the back you failed to deposit as the monthly instalments. With this guarantee and confidence, the creditor can quickly approve the loan request with a higher principal amount. Equity and mortgage loans are two significant secured loans that will help the borrower apply for tax exemption. It means that the amount you have to pay monthly as the instalment will get deducted from the total payable tax amount per month. Let’s say your annual tax amount is approximately $450. The annual loan instalment you pay is $200. Therefore, you will get an exemption of $200, and the total payable tax amount will come down to only $250. Secured loans are usually approved much faster than unsecured loans. Even if you have a bad credit score or the risks associated with the loan request are high, creditors can approve the application if the collateral is promising and can repay the entire debt in case you fail. Therefore, the chances of a secured loan application being rejected are also relatively low. Another significant benefit of secured loans is paying money upfront to reduce debt. This will bring down both the principal and interest payable per month in the form of instalments. Therefore, you will have the leverage to save a couple of bucks from that total due every month, and the chances of missing the payment of one instalment will be less. Disadvantages of a secured loan for the borrower Although there are several benefits to a secured loan, there are also some disadvantages. Overlooking the drawbacks might lead you to difficult conditions where your judgement can put you at stake. Therefore, to help you gain maximum clarity, we have discussed some of the major drawbacks of taking this secured loan. If you take a secured loan, you need to give something as collateral with a value equal to the total repayable amount for the credit. You will only be granted the loan if you have such an asset. If you fail to pay the loan amount, the collateral will be forfeited. Unfortunately, you will only be able to get the thing back if you pay the amount later. There are times when you may need help to pay the instalments for valid reasons. However, the creditor won’t consider these reasons no matter what. [B-02] Conclusion In this article, we have shared the fundamentals of a secured loan so that you can understand it and how you can benefit from it. Since you know both the pros and cons, it’s your call whether you want the secured credit or the regular one. For further information, you can connect with the experts at Piramal Finance.

08-11-2023