God forbid, but if you ever have to meet an unexpected expense - a medical exigency, school or college admission, wedding in the family, home improvement, a personal loan can help you meet your immediate finance requirement, although it may be slightly expensive than the other two loans.
At Creditfina however we will ensure that the procedure is simple, transparent and hassle-free and the loan disbursal is prompt. We will also make sure there is no requirement of collateral in this kind of a loan.
Personal loan rates differ from bank to bank, so we will lay out all the options on the table before you and help you make a smart decision.
Use this Creditfina tool to instantly compare interest rates and other features offered by various banks across the country on personal loans.
Since it’s a form of insecure loan, the interest rate on Personal Loan is always the highest. But it can come in handy to meet sudden, unplanned needs, such as a child’s education, wedding or medical expenses.
Then again, Personal Loan interest rates depends largely on the borrower’s past credit history. If you have a clean report, you may be able to negotiate one or 2 per cent less rate on your Personal Loan.
You are eligible for a personal loan if you are a salaried individual, self-employed individual (own business), or a self-employed professional (doctor, lawyer, etc.). Other factors that are taken into consideration are your present income, a forecast of your future earning power, age, repayment capacity, past obligations. Employees with multi-national companies get these loans disbursed easier and faster – we know why!
You can expect some relaxation in the interest rate on personal loans, if you
You can use Creditfina’s Personal Loan EMI Calculator to find out exactly how your EMI would get set.
In comparison to other loan kinds, personal loan requires least number of documents, except proof of:
It is very easy to get a personal loan as it requires a lot less paperwork and is the best option when you are in urgent need of money. Moreover, it is relatively hassle-free as it does not require any guarantor, security, or collateral. Once you have qualified for the loan it takes only about three days to get the loan amount disbursed to you.