Personal Loan is a form of unsecured loan availed by individuals on the basis of specific criteria, such as level of income, employment history, credit score, and scope for repayment. The loan is usually taken for the fulfillment of personal needs from a banking institution or a non-banking financial company (NBFC). Borrowers can use online tools available at neutral financial websites, such as the Personal Loan EMI Calculator, to assess the interest payout throughout the tenure before applying for a personal loan.
- Simplified documentation
- Easy and convenient loan
- Attractive interest rates
- No hidden charges
- Quick processing
- Flexible loan repayment options based on your income
- Non-mortgage loans are also available with certain lenders
Personal loan is an unsecured consumer loan which can be used by you for any purpose such as holiday trip, buying furniture, renovating house and medical emergency.
The most important benefit of personal loan is that unlike home loan it can be used for any purpose. There are no limitations on the end use of the personal loan. You have any urgent requirement of funds; personal loan can be one of the easiest ways to get cash.
The best part about Personal Loan eligibility is that any person above 21 years of age with a valid ID proof and claim that he/she owns the gold can avail it. The documents required for personal loan might include an address proof and photographs in addition