Personal Loan is a collateral free loan based on income documents of individual or company. Since this is an unsecured loan thus the borrowers past track records of loans & credit score has to be good.
Personal loan processing is very easy as it required less documents as compare to any secured loan but it always attracts high rate of interest & shorter repayment period.
Any financial institutional look for credit score & income because they are not your friend and it is strictly a business transaction, therefore your good income documents & credit score will help lander to land the money.
Personal Loan can only be availed for any valid purpose, be it a wedding expenditure, a holiday or purchasing consumer durables, the personal loan is very handy & caters to all your needs
Personal Loan FAQ
A personal loan can be used for almost any type of expense ranging from big ticket appliance purchases and home renovations to luxury vacations and debt consolidation. Some other cases where personal loans may be useful include payment to unexpected medical bills, investment in business, fixing your car, down payment of new house and much more.
You must have a regular source of income to avail a personal loan whether you are a salaried individual, self-employed business person or a professional. A person’s eligibility is also affected by the company he/she is employed with, his/her credit history his/her residential location and other factors as per the lender’s criteria.
You can apply for a loan in the following ways:
Fill in the online details and our representative will get in touch with you
Call one of our PhoneBanking numbers provided on the website
Visit your nearest branch
Our existing liability customers may also get in touch with their Relationship Managers to know more and apply for personal loan
