Avail Personal Loan Online Instantly - PowerPoint PPT Presentation

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Avail Personal Loan Online Instantly

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Personal Loan is an unsecured loan If you are in an emergency or you want money for any occasion you can apply for a personal loan online, it can save you time. – PowerPoint PPT presentation

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Date added: 18 October 2019
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Title: Avail Personal Loan Online Instantly


1
How to avail Personal loan online instantly?
2
Why to avail Personal loan online?
  • Multipurpose Loan You can avail a personal loan
    for multiple purposes. The lender wont track the
    end-use of the sanctioned loan amount. 
  • Pocket-Friendly Interest Rate The rate of
    interest on personal loan is very competitive. At
    the time of repayment, it will be easier for you
    to pay the installments. 
  • Less Documentation You dont have to carry
    bag-full of documents at the time of applying for
    a personal loan online. 
  • Instant Approval When you apply personal loan
    online, you get approval in lightning speed.
    Unlike other loans, a personal loan is disbursed
    in the borrowers bank account within a few
    days. 
  • No Collateral Required As it is a type of
    unsecured loans, you wont have to provide a
    guarantor or deposit any security at the time of
    borrowing a personal loan.

3
Benefits of taking Personal loan online
  • Ease of access.
  • Easy to keep track of loan application.
  • Option to compare and choose.
  • No need of physical documents.
  • Fast approval and disbursal.

4
Factors Affecting Your Personal Loan Interest Rate
  • CIBIL score Usually, credit score of 650 or
    above gets a pass for personal loan. To avail
    low-interest rate on personal loan, keep your
    credit score above 750.
  • Total loan amount.
  • Status of the borrowers organization.
  • Relationship with the Bank.
  • Note Rate of Interest varies from one financial
    institution to another. The maximum personal loan
    one can avail depends on his/her salary package,
    job stability, credit score, etc. 

5
Steps to follow when you apply for Personal loan
online
  1. Know If Youre Eligibility The first step is to
    know if youre eligible. Due to lack of
    information about eligibility for personal loan
    in India, people often unsuccessfully apply for a
    personal loan online. Knowing the eligibility is
    important as the rejected loan application hurts
    your CIBIL score most.
  2. Carefully Compare Interest Rates Choose the best
    personal loan for you by carefully comparing the
    interest rates of various banks and NBFCs.
  3. Apply Online Once youre done with the first 2
    steps, apply for a personal loan online.

6
Personal Loan Eligibility Criteria
  • Applicant must have a constant source of income.
    One must be either salaried or self-employed
    professional.
  • One must have a good credit score. 
  • Age of the applicant should be in between 21 to
    65. For salaried professionals, the age criteria
    is 21-58.
  • Applicant should have a stable employment
    history. One should be working in his/her current
    organization for at least 2 years.
  • Applicant must have a minimum salary in the range
    of ? 15K - ? 20K.
  •  
  • Note Eligibility Criteria varies from one lender
    to another.

7
Documents needed for Salaried Professionals
  1. Filled Loan Application Form with passport-sized
    photos
  2. Salary slips of last 3 months
  3. ID Proof
  4. Residence Proof
  5. Last 6 months Bank Statement
  6. Employment Proof
  7. Signature Proof

8
Documents needed for Self-Employed Professionals
  1. Filled Loan Application Form with passport-sized
    photos
  2. ID Proof
  3. Office Residence Proof
  4. Income Proof
  5. Last 6 months Bank Statement
  6. Signature Proof
  7. ITR Return

9
Thank You !!!
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