Personal Loan
Overview

Personal Loan in India, as the name suggests is a loan taken by the applicant to satisfy his personal needs and requirements. The financial needs may include a marriage in family, renovation of your house, purchase of your laptop or paying back your credits. The documentation process of Banks completely depends on the norms and conditions as per the Banks criteria, thus a slight variation can be found in the documentation process asked by each bank. 

Personal Loan - Rate

What is the best way to meet current financial needs? Get a short or medium term loan. Yes, get a personal loan and realize all your dreams. Be it vacation or wedding or home renovation or a gadget, you can get a personal loan approved for any and almost every purpose of choice. After all, personal loan is a multi-purpose loan! 

The best part, personal loan does not ask for any security or collateral. It gets approved as quickly as within 48 hours. What’s more, one can repay the loan in easy installments. Above all, you need to pay interest on monthly reducing basis. Being an unsecure loan, personal loan tends to be expensive, nonetheless enjoys a constantly growing demand in the market. 

What makes personal loan such a highly demanded product is its quick processing time, minimal documentation and above all, flexibility of usages. But yes, you have to be careful while selecting the loan as interest rates charged by banks or lending institutions can be stiff. More so, it involves penalties if repayment is not done on timely basis. So, how to get the best possible personal loan in the market? 

Visit MyLoanBazar.comto search, compare and select from personal loans offered by top banks and institutions in India. Compare interest rates, EMI option, loan terms and benefits offered by top personal loan providers in India. Visit us to find the lowest possible EMI and maximum possible loan amount.

Personal Loan →Compare

What is the best way to find the perfect personal loan? Simply put, you need to know all the products available in the market. You also need to compare all the personal loans available in the market. You need to evaluate interest rates, payment amount, penalty charges, benefits and terms associated with the personal loan. 

It means, you need to compare personal loans offered by different banks and institutions. Only then can you expect to get the best personal loan. This is where MyLoanBazar.com helps a lot, as we bring to you all the information related to your loan. We will let you compare loans from top banks and institutions in India. 

Visit our portal and compare loans from the best of banks. We help you find the lowest possible monthly EMI and highest possible loan amount. Come to us, find variety of loans and select the one that suits your requirements the best.

Personal Loan - Interest Rates

How to get the best personal loan? Or, which bank offers the cheapest personal loan? To get the best personal loan, you need to know interest rates charged by different banks. You also need to compare interest rates and other charges at different banks and institutions. You should know that interest rates will remain fixed for the entire loan duration. 

It means, a personal loan will carry a fixed interest rate. Interest will be charged on monthly reducing basis. Being an unsecured loan, the rate of interest will be higher compared to other loans but will be less than credit cards. The best way to get the cheapest personal loan is by knowing all about interest rates. 

Visit MyLoanBazar.com and get a complete idea about interest rates charged by different banks for their personal loans. Search compare and select from interest rates offered by top banks in India. With us, you will get the lowest possible interest rates for your personal loan to realize all your current financial needs.   

Personal Loan - Eligibility Criteria

It is very simple to get a personal loan. Anyone and everyone can get this loan provided eligibility criteria are met. If you meet the eligibility norms set by banks and institutions, you can get personal loan approved in less than 48 hours. Eligibility criteria will be more or less similar for all banks and institutions. 

You need to meet following eligibility criteria to get a personal loan: 

    You need to be an Indian of 23 years of above age 

    You need to produce residence and ID proof 

    You need to produce documents related to inflow of income 

    Whether salaried or self-employed, you should submit proof of your repayment capacity 

    Must have a positive credit score or credit history 

    Must meet the minimum and maximum age bracket limit set by different banks or institutions 

    Must not be a defaulter of loans 

Visit MyLoanBazar.com to get more information about eligibility criteria of personal loan.

Personal Loan - EMI

How to know the EMI of your personal loan? How to know whether you can afford a personal loan or not? Visit MyLoanBazar.com and use EMI calculator to get complete idea about the money you need to pay every month against the loan. Monthly payment amount varies from individual to individual as it's calculated based on the financial capacity and monthly income. 

Visit us and get an opportunity to know your loan amount and monthly payment amount. You can impact your loan amount once you knew the monthly EMI. You can also get the lowest possible EMI for your loan together with getting the maximum possible loan amount. We bring to you loan details from top banks in India.  

Personal Loan - Documents

It is simple and easy to get personal loan. With proper documents, you can get the loan approved in two working days or just within 48 hours. Documentation will be simple as personal loan is an unsecured loan. Whether salaried or self-employed, anyone can get personal loan quickly. 

To get a personal loan, you need to submit with the bank following documents: 

    Identity and residence proof with duly signed photograph 

    Income proof 

    Bank statement of at least 6 months 

    Employment details 

    Age certificate 

    For salaried individuals, salary slip, IT return and form 16 

    For self-employed, income, Profit and Loss statement, and balance sheet details

Visit MyLoanBazar.com to get more information about required documents for personal loan.

Personal Loan - Process

Personal loan in one of the easiest loans to get. It involves minimum possible paperwork and quickest possible disbursal. It does not need any guarantor collateral or security. All it needs are some documents and some meeting of norms. 

Personal loan involves few steps including: 

    A formal submission of loan application with a bank 

    Submission of relevant documents, ID and proof 

    Bank verification of all the documents submitted by you 

    Finalization of loan amount based on income and repayment capacity of individual 

    Loan approval offer letter issued by banks 

    Disbursement of loan 

Visit MyLoanBazar.com to get more details and in-depth information related to personal loans offered by different banks and institutions in India.