Life is damn unpredictable and many of times, several incidents or events have proved it right. Financial crisis can pop up any time with no pre-invitation and not finding the right solution at the right time can trigger the moments of frustration and depression. So, if you are too worried about your debt and cannot focus on the work, no need to worry anymore because the market is flooded with wide range of personal loan offers. You can choose the right one and clear all your debts and financial needs in just a few clicks.
Personal loan is a one-for-all loan and hence it is also known as multi-purpose loan. Basically, it involves borrowing a set amount of funds from the banks and/or financial institutions and paying the amount in easy monthly instalments along with interest. They are considered as unsecured loans as they don’t involve any collateral security against the loan.
Personal loan can be used for various purposes like wedding arrangements, home renovations, pursuing higher educational degrees, or business/vacation trips. Apart from this, it also has several benefits to aid your finances.
Hassle-free processing – First of all, to apply for personal loan in Chandigarh, you need to visit the branch physically or coordinate with loan agent. Simply apply online conveniently and get access to hassle-free assistance.
Quick disbursal – Applicants don’t have to wait for days to get a loan disbursal. Personal loans are disbursed within a time span of just 24 to 48 hours from the application time.
Minimum formalities – Unlike other loans, lenders doesn’t ask for a bulk of documentation to approve personal loan. Just a few documents and voila, your loan is approved.
No collateral – Applicants are not required to mortgage their assets against the loan security such as home, vehicle, or shares.
Restriction free – Borrowers are not restricted to utilize the sanctioned amount specifically for some particular reason such as home loan and car loan. Borrowers only have to make sure that they will not utilize the funds for any illegal activity like buying drugs, etc.
Maximum quantum and flexible tenure – Financial crisis can be small or huge, one can apply for personal loan with maximum quantum and choose the flexible tenure period. This leaves them free to plan their finances without any burden on the shoulders.
Boost credit history – Yes, personal loan actually boost individual’s CIBIL score and improves credit history. Therefore, it is significant to repay the loan timely as it would directly reflect the creditworthiness of an individual for future loans and credits.
• Age limit – 21 years to 58 years
• An applicant should be a resident of India
• An applicant must be a salaried employee or self-employed
• He/she should be employed to recognized MNCs, public or private limited companies with minimum work experience of 1 year
• Steady monthly income
• Minimum educational qualification required is graduate
• CIBIL score above 700.
• Duly filled personal loan application form
• A copy of identity proof (Voter ID/ adhaar card/ driving license/ ration card)
• A copy of residential proof (Voter ID/ adhaar card/ ration card/ electricity bill/ water or telephone bill)
• Bank statement copy for last 3 months
• Salary slip statement copy for last 2 months
• Latest Form 16/ Income Tax Return.
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