If you find yourself stuck in a financial crisis, there is no need to worry as you can get a Personal Loan in Pune instantly. Personal Loans are unsecured credit instruments that come with no end-use restrictions. You don’t have to worry about submitting collateral with your lender to get a Personal Loan in Pune.
As mentioned above, since these loans come with no end-use restrictions, you can use them for a wide range of purposes. You can use a Personal Loan for funding higher education, hosting a wedding, consolidating high-interest debt, investing in home renovation, and covering high-ticket expenses.
To make the application process simpler and more convenient for borrowers, most lending institutions, banks, and non-banking financial companies (NBFCs) are offering Personal Loans via online applications. The online application process expedites loan approval and disbursal, which means you won’t have to wait long to get funds disbursed into your account.
Before applying for the loan, take your time to research and compare the different lenders that are offering Personal Loans in Pune. Choose a lender that is offering the best Personal Loan interest rates to keep your cost of borrowing at a minimum. Also, check if there are any hidden charges or foreclosure charges on Personal Loans.
In addition to this, you can also use an online loan EMI calculator to calculate your monthly payments. Online EMI calculators are widely available online, you might find one on your lender’s official website. The tool is easy to use and gives our automated results. You just have to enter your loan amount, loan tenure, and the interest rate offered to you. The tool will give out an automated result which is the approximation of your monthly payment.
Please note that the results given out by online EMI calculators are not your fixed payments, but only the approximation of the same. Your actual EMI amount will depend on other factors such as taxes and your bureau score and the nature of the loan.
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Personal Loan in Pune eligibility criteria
- Age: The applicant should be 24 years old at the time of application and 58 years old at the time of loan maturity.
- Citizenship: The applicant should be an Indian citizen.
- Employment: The applicant should be full-time employed with the state or central government, PSU, MNC, Listed, Unlisted Public Ltd., Private Ltd., LLP, colleges and schools, or companies that are listed internally.
- Work experience: The applicant must have job experience of at least 2 years, with 6 months of stable employment with the current employer.
- Monthly income: The applicant needs to have a net monthly take-home salary of a minimum ₹40,000.
Documents required for Personal Loan
- KYC documents: Lenders accept an Aadhaar card or PAN card as your KYC documents.
- Address proof: You can submit soft copies of your Passport, utility bills, or your rental agreement.
- Income documents: You will be required to submit your latest salary slip.
- Financial documents: You will have to procure your salary credit statement for the past 3 months.
- Employment proof: Official email ID confirmation or Employee ID car in case email id is not available.
How to apply for a Personal Loan
You can apply for an online Personal Loan in Pune by following these simple steps:
Step 1: Visit your lender’s official website.
Step 2: Go to the dedicated page for Personal Loans
Step 3: Click on ‘Apply Now’.
Step 4: Fill out the online application.
Step 5: Upload the soft copies of the supporting documents.
Step 6: Await verification and confirmation.
Step 7: Get funds disbursed into your account.
In conclusion
Personal Loans in Pune are easy to avail of as various lending institutions, banks, and NBFCs are offering online loan applications. Ensure that you read the eligibility criteria and the required documents before applying for an instant Personal Loan in Pune.
Besides this, maintain a healthy bureau score to get a loan approval without any hassle. A bureau score above 700 is considered healthy. In case you have a low bureau score, you can take some measures to improve it. Make sure that you pay your monthly dues on time, have a good credit mix, and rectify errors in your credit report if there are any.
