Looking For A Personal Loan!!

Let's Try to Figure Out What It Is and How Can It Be Applied For

Personal Loan is an unsecured credit provided by financial institutions based on criteria like employment history, repayment capacity, income level, profession and credit history. Personal Loan, which is also known as a consumer loan is a multi-purpose loan, which you can use to meet any of your immediate needs.

In most cases, individuals are eligible for a personal loan amount of up to 30 times their monthly income. Additionally, to minimise the risk of default, lenders keep the EMIs of the loan to about 45-60% of your monthly income.

Documents Required To Apply For A Personal Loan

Application for a personal loan generally involves ascertaining the applicant's need/eligibility of funds and their repayment capacity. As such to be eligible for a Personal Loan applicants must generally be salaried individuals and share documents confirming their personal and professional details. Including but not restricted to:

• KYC Documents (proof of the applicant's age, nationality, etc.)
• Documents declaring the continued employment for the applicant
• A duly filled loan application form.

For details, please enquire below: