Personal Loan For Your Wedding, For Your Holiday!

There are several dreams we wish to fulfill in a lifetime

, and a few of them are really close to the heart. Sadly, many times we have to let go of our desires as lack of fund poses as a discouraging factor. With this in view banks and private finance companies now offer customers with the option of personal loan. With financial aids available for every major need like home loan, business loan, car loan etc, there was a strong need to help consumers fulfill other needs that may not seem a major requirement but are essential. So a loan for personal requirements was introduced in the market and since then it has been successful in helping many accomplish their dreams.

These loans are an unsecured loan option which means that you are not required to place any collateral and risk your personal possession. Also you do not need a guarantor to get the loan. All a provider looks for is your capacity to pay back. Hence, you may have to submit a few documents related to your income. Availing a personal loan is a speedy process as it needs less documentation. The loan can be availed for any reason and you do not need to disclose the reason for the loan unless the amount you wish to avail is really high. You can use the amount for needs like funding marriage, renovating your house, education, taking a trip abroad and other such personal reasons that need high funding.

Availability of the loan for a number of reasons is not the only reason why Personal Loans are a popular option. There are many more to explore

It does not require you to submit any collaterals or detailed documents to acquire a loan. With minimum documentation and basic formalities you get the desired amount once you are considered eligible to repay the loan.

The loan is fast processing and is sanctioned in a matter of days as the formalities included are very few

You can avail a bigger amount at affordable EMIs to complete your needs

Loan amount ranging from Rs. 50,000 to Rs. 30lacs can be availed

Repayment can be made within a flexible tenure of 5 years and with easy EMIs

While sanctioning the loan, lenders conduct a complete assessment of the of the persons status i.e. if the interested individual is working or employed. Aspects like the income of the person, persons company status, credit and payment history, relationship with the bank where the loan is to be taken from, the bargaining capacity etc. are noted and the loan is provided accordingly.

As soon as you clear the eligibility test and the agreement is signed, the lender disburses the required amount in the form of demand draft or a direct transfer in your account. The lender does not ask for upfront fees on personal loans.

by: ytr

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