Unwanted or unpredictable expenses crop up in every person’s life. People often need additional cash to fund these which may not always be available. In such a scenario, opting for a personal loan online poses a smart choice catering to all such expenditures.
There are some NBFCs like Bajaj Finserv which provide the fastest personal loan disbursal within 24 hours of application. Also, they give pre-approved offers for their existing borrowers on a personal loan, business loan, home loan and several other financial services as well as products. These exclusive tailor-made scheme with simplified process aids in saving a lot of time of the borrowers.
Most people prefer taking personal loans online owing to its instant availability. So, if you are planning to opt for one, here’s how to apply for a personal loan:
Unlike the conventional way of processing, an unsecured personal loan takes less disbursal time when applied online. In fact, the loan amount is disbursed within 24 hours in your accounts post verification of few documents.
You need to furnish the following while applying for a personal loan online:
- KYC documents
- Employee ID card
- Salary account statements for the last three months
- Salary slips of the prior two months
Apart from minimal paperwork, you also need to match the following personal loan eligibility criteria:
- Your age needs to between 23 and 58 years at the time of application.
- You should have a stable source of income from an MNC or any public/private sector.
- Lastly, you need to be a residing citizen of India.
Note: NBFCs also provide their borrowers with an online eligibility calculator to evaluate the unsecured personal loan eligibility criteria beforehand.
So, getting an immediate personal loan online with instant approval within 60 seconds and fastest disbursal is a reality now. An additional benefit is that if you are an existing consumer of the lender, the loan disbursement process will be paperless and hassle-free.
How much can you borrow while availing the loan online?
Financial institutions offer a substantial loan amount that can range up to Rs. 25 Lakh fitting all your expenses. So, renovate your home, pay unexpected medical bills, go for a dream vacation or consolidate all your debts with the instant disbursal of such huge amount.
Some more features and benefits:
- Easy repayment schemes
Lenders also provide convenient repayment scheme. Once the money is disbursed in the borrower’s account, he can repay the loan through post-dated cheques or Electronic Clearing Services (ECS).
In addition, a borrower gets a flexible tenure to pay off the credit that varies between 12 months and 60 months.
- Affordable interest rates
Most lenders usually come with attractive personal loan interest rates. However, if a borrower can establish his creditworthiness, lenders also keep room for further negotiation of the rate of interest.
- Flexible Loan facility
It is a new-age facility that allows the borrower to withdraw fund whenever required. He has the advantage of paying only the interest part as EMIs and that too on the utilised amount instead of the total sanctioned value.
The best benefit is that a debtor can avail funds as many times as he wants from the sanctioned amount.
Hence, with easy application and instant disbursal of personal loan online, loan seekers don’t need to go through any hassle. Take advantage of online application and get hold of instant money for any financial requirement.
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