How often do you feel that if only there was someone who could lend you some money for a particular necessity at the time which you can pay back later? Be it just a month-end cash crunch or a big requirement like a wedding. Now you can avail personal loans from ₹ 15000. Also with time and technology, it has become easier to avail this facility. There are just certain documents that you need to provide the financial institution in order to get the loan. Therefore, here is a section-wise list of Documents Required for Personal Loan-
No matter which category you belong to or which bank you are applying to. There are certain documents that are required for availing a personal loan at any financial institution. Here is the list:
Getting a personal loan can be a piece of cake if you are a salaried employee at a company and have a good credit score. Here is the list of documents that you would need in order to get a personal loan-
It can be a little difficult for self-employed individuals to get a personal loan due to the fact that their source of income is slightly riskier than salaried individuals. However, if you have a steady income, most banks would offer you good rates. Here is the list of documents that you would need to provide them-
Even senior citizens and pensioners can apply for a personal loan. Below is a list of documents required for a personal loan for senior citizens and pensioners-
You can use a personal loan for a variety of purposes like debt consolidation, home renovation, home furnishing, travel expenses, wedding expenditures etc. Because a personal loan is a multi-purpose loan and hence it has gained popularity recently.
If you have a steady source of income, you are eligible for a personal loan. However, there are certain other criteria like credit score which would depend on the lender you are applying for.
Yes, most banks have a minimum amount that you need to borrow. You can get loans for amounts starting ₹ 15000 from online portals like IndiaLends. The maximum amount also varies from person to person and bank to bank. That is, according to your income, you might be eligible for a different amount up to which you can choose.
The tenure for a personal loan can vary from anywhere between 6 months to 5 years according to the EMI structure you choose.
Yes, you can. In such a case you would have to provide documents for all the applicants. Also, keep in mind that when you apply for a loan jointly. Each applicant needs to maintain a good credit score.
Getting a personal loan is not as difficult as it might sound. And with IndiaLends’ paperless application procedure, a personal loan is literally a few taps away. Also, you also get to choose from various offers and the opportunity to get EMI options starting ₹1400. Apply now to check the best interest rates. If you have any questions regarding personal finance, do let us know in the comments below!