When uncertainties surround us in this day and age, personal loans can come to the rescue. The funds can be used to take care of a medical emergency, your dream wedding, home renovation, or any other personal fund requirement. The urgency of these funds hints that banks should release them as quickly as possible.
While availing of a personal loan may seem like a task, technology has solved the problem.
Lenders today offer instant personal loans at the convenience of your doorstep.
Yes, you heard it right! No more long queues and never-ending branch visits. If you need a personal loan, apply for it online keeping the eligibility criteria in mind.
The personal loan application is an instant and easy process that can be done online in just a few simple steps.
- Navigate to the personal loan section of your lender’s website
- Fill in your basic details and submit the documents required online. (Identity proof, Residence proof, Bank Statements, Salary Slips, and passport size photograph)
Et voilà, you’re done!
In no time, your lender’s backend team will then work their magic, and your loan will be approved.
Are you messy about your EMI calculations? We’ve got you covered!
You can navigate to the personal loan EMI calculator section online on your lender’s website.
The personal loan EMI calculator will help you determine:
- The monthly EMI you need to pay.
- The total amount of interest you’ll incur over the period.
- The total sum payable to the lender over the period.
Here’s why applying for a personal loan online is the right way to go:
- Hassle-free experience:
With minimal documentation and a quick disbursal system, the online personal loan application system is the new mainstream.
- Competitive Personal Loan Interest rates:
Lenders are providing the funds at the most affordable and competitive personal loan interest rates in the market.
- Paperless Approvals for sanctioning:
The new framework claims to be paperless with all the formalities done online, along with an effortless personal loan application.
- Quicker Disbursal of the fund:
You are barely a few clicks away from your loan disbursement.
- Collateral free loan:
Personal loans can also be issued without collateral, provided you meet the lender’s eligibility criteria.
- Prepay any amount any time:
You can choose to prepay your loan installments at any time and reduce your loan burden.
- Unrestricted end use:
Unlike car loans or home loans, where the end use of the funds is restricted to the specified purpose, one can use a personal loan without any usage restrictions.
- Plan your repayment schedule:
You no longer need the bank to decide the EMI. You can manage the repayment schedule all by yourself. The personal loan EMI calculator will be available at your disbursal to calculate your EMI.
- Flexible tenure:
One can choose any tenure between the range specified and can pay his EMI according to the calculation done by the Personal Loan EMI Calculator.