Personal LoanPersonal loans are handy when expenses exceed savings and income. A planned personal loan is often the smartest way to solve a financial problem or overcome a crisis. Any of your pending important work can be easily completed by taking up a personal loan.
PolicyBazaar.com provides an easy to use platform to review the various personal loans offered by banks and financial institutions. Compare the features, benefits and charges for different loans and choose your personal loan with confidence. Comparison of personal loan is very necessary because in today's market every financial company provides you personal loan. It's also important that you must read the policies before taking up any personal loan, as there are many hidden terms and conditions present in these policies and that may cause a problem to your financial planning
Personal Loan EMI Calculator:Personal loan EMI calculator is very helpful for calculating EMI from providers like HDFC personal loan, SBI personal loan etc. If you calculate the EMI initially that will help you to plan your finance.
Eligibility Criteria plays a major role to apply for personal loan:Eligibility criteria also play an important role in taking up your personal loan. Financial background plays a major role as this will be helpful to understand your loan payback ability. Loan provider will also check that your credit card bills are clear and you are paying your other EMI's timely, in case you have taken up any loan earlier. They will also look into your company where you are working presently. Self-employed persons have to show their nature of work and income level.
How personal loans can help:Personal loans help in fulfilling those long lost wishes. When you go for a personal loan from policybazaar, you are not making those dreams come true but also availing the lowest EMIs for personal loans. Personal loans assist you in renovating your kitchen, taking that dream vacation, getting your daughter married and more.
Comparing personal loans becomes important because of so many options for personal loans available in the market. When you compare personal loan options, you get a better understanding and can chose the best for you. If you want to know more about personal loans feel free to get in touch with us on our toll free number. We will be more than glad to guide you on personal loans.
Remember personal loans are the most expensive loans available in the market, with high interest rates. Choose carefully after due research and understanding of the costs and benefits involved.
- You should be either salaried, self employed or professional
- You must be aged between 22 to 59 years, have a bank account and have some monthly income
- You must not have a history of bad credit or your loan should not be declined in last 3 months
- You should have some monthly repaying capacity
- If you decide not to proceed with your personal loan application, Our home loan/ auto loan/ loan against property could help you get the money you need.
- Passport size photograph.
- Filled application form dully signed
- Latest 3 months salary slips (indicating break up of gross salary i.e basic pay house rent and net salary after deductions)
- 6 months Bank statement reflecting salary credits updated within last 15 days
- Identity Proof (Any one): Pan Card, passport, driving license or voter's ID card, employee identity card as identity proof and signature proof incase of government employees.
- Address Proof( Any one) : Passport, driving license, ration card, voter's ID card, bank statement, rent agreement telephone bill, electricity or water bill
- Loan schedules and bank statement showing EMI debits (if any loan is running)
- Rate of Interest differs according to the profile of the customer i.e company name, salary
- Loan amount varies from 50,000 to 25,00,000
- Processing fees is the charges which bank incur while processing of loan application. It's between 1% - 4% of the loan amount
- Personal loan has a specific repayment schedule from 1 year to 5 years
- Equated monthly Installment (EMI) comprise of Principal and Interest it is a fixed payment owed each month to repay the loan