Instant Personal loan -Apply Online for a Personal Loan in India for Low Interests - Buddyloan - PowerPoint PPT Presentation

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Instant Personal loan -Apply Online for a Personal Loan in India for Low Interests - Buddyloan

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Apply online for Personal loans that offer loans at a low-interest rate and instant approvals. Know the eligibility criteria to apply for personal loans and study abroad. – PowerPoint PPT presentation

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Title: Instant Personal loan -Apply Online for a Personal Loan in India for Low Interests - Buddyloan


1
PERSONAL LOAN
  • BUDDY LOAN

2
DEFINATION OF PERSONAL LOAN
  • Personal loan is a short to medium term unsecured
    loan (no collateral) that you can use to meet
    your financial needs.
  • Though most commonly used to meet expenses
    related to debt consolidation, vacations and
    unexpected medical expenses, a personal loan may
    be used for practically any type of expense.

3
Features and Benefits of Personal Loan
  • No Collateral Required
  • Multipurpose Use
  • Flexible Tenure
  • Simple Documentation Process
  • Flexible Quantum of Loan

4
When Should I Apply for a Personal Loan?
  • At the time of financial or medical emergency
  • When you wish for less documentation
  • When you wish for less documentation
  • To consolidate your debts
  • You do not have collateral

5
Factors that Affect Personal Loan Approval
  • Credit score
  • Income
  • Employment stability
  • Age
  • Outstanding debt

6
SOME OF THE MAJOR FACTORS ARE
  • Credit History Your credit history helps lenders
    analyze your repayment behavior . If you have a
    poor credit history, you will get personal loan
    at higher interest rates.
  • Income For lender your income is an assurance
    of repayment. Therefore, the more you earn,
    lesser will be your personal loan interest rate.
  • Employer When examining your loan application,
    lenders also consider the reputation of the
    organization you work with. You can enjoy lower
    interest rates on personal loans if you are
    associated with a well-known and stable
    organization.
  • Lender-customer Relationship If you are planning
    to apply for personal loan with the bank you have
    an account with, your good relationship with your
    lender can also help in getting you lower
    personal loan interest rates. In addition to the
    rate of interest, borrowers must also consider
    other charges such as pre-processing fees,
    foreclosure charges, etc. before applying for
    personal loan.

7
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