If you are feeling overburdened with too many expenses, and want a quick helping hand in to meet your current financial needs, then Loan Guru’s Personal Loan is the solution to your problems.
A personal loan is a short to medium term unsecured loan (no security required) that you can use to meet your current money related needs. Despite the fact that most ordinarily used to meet expenses like the house renovation, vacations, sudden medicinal expenses and paying installments, a personal loan might be utilized for essentially any kind of expense.
SALIENT FEATURES AND ITS BENEFITS
SHORTER TENURE : Unlike the other secured form of loans, the tenure period of the personal loan is very short. Thus, you will not have to feel the burden of repaying the loan amount over so many years. The tenure period for this type of loan ranges from 1-5 years.
NO COLLATERAL : You do not have to keep your any assets as a security to the bank to avail personal loan. This is one of its major features which make its best for current financial needs. The personal loan is given to any individual after assessing his/her CIBIL (Credit Information Bureau Limited) score. This is a national credit rating system and recognized by all bank as authority to judge the creditworthiness of any person.
FLEXIBILITY : In this type of loan, you are absolutely free to use the loan amount in any way you want. You can use it to meet your any kind of financial needs, however, mostly the personal loan is availed for:
Buying a new phone
Vacations and Holiday trips
Paying credit card and other bills
For some miscellaneous business requirements like buying furniture for the office.
HASSLE FREE LOAN DISBURSAL : Get your loan approved within minutes. Nowadays the whole process has been digitalized, you can verify your documents online from the comfort of your home and easily avail the loan within 48 hours of submitting an application with minimal documentation.
TAX DEDUCTION : In case that you want the personal loan for the construction, repairing of the house or paying the installment for the house, you can save the tax amount of up to Rs 2 lakh under Section 24B for the interest part in a financial year. In any case, keep in mind that you have to present enough documents to demonstrate that the money has been used for only that reason as it was described.
ELIGIBILITY CRITERIA FOR PERSONAL LOAN
Any Indian national salaried, independently employed or proficient is qualified for a personal loan. Nonetheless, this loan is an unsecured one, accordingly, banks ensure that they are not loaning money to a customer with higher risk involvement. To guarantee the same, they consider various factors before giving personal loans.
ABILITY TO REPAY : Applicant ought to have been employed by your present company or been self-employed in his/her business for a specific number of years
SALARY : Applicants ought to have the bank specified month to month repaying capacity or minimum income of Rs 20,000 or turnover of minimum Rs 20 lakh.
AGE : Applicant must meet all requirements for the candidate age section specified by the loaning organization (25-60 years).
CREDIT SCORE : Applicant ought to have the bank specified credit score assessment and suitable credit history (600 & above).
EXISTING EMIs : Applicant ought not to have some other credit liabilities or must have the solid capacity to take additional debts.
Income Proof(bank A/c statements of last 6 months, recent salary slips, appointment letter, income tax returns, etc.)
PAN & Aadhaar card required.
Terms & Conditions
All the information provided here is for awareness and customer convenience and is intended to act only as a demonstrative guide about Loan Guru's product and services. Terms and Condition apply.For detailed information kindly contact at +91 9911175539 or please visit our branch.