Have you ever wondered whether you could apply for an emergency Personal Loan with just one click or without any long, tiring documentation process? Several banks and NBFCs now offer quick emergency Personal Loans with basic eligibility criteria.
In addition to this, a Personal Loan can be availed at low interest rates and it comes with flexible repayment terms. One of the best things of taking instant Personal Loan is that there is no restriction on its end-use. Right from covering your medical emergencies, renovating your home to fulfilling wedding expenses and debt consolidation, a Personal Loan can be used to meet any valid financial necessity. It can alleviate your financial burdens by supporting you in achieving your objectives, executing your plans, or financing unforeseen expenses.
Here are some of the advantages of a Personal Loan:
- High Amount: A Personal Loan offers a high loan amount instantly to cover your various financial requirements. If you meet the eligibility conditions of the lender, you can avail of up to ₹30 Lakh without pledging any collateral.
- Easy Eligibility: To get a Personal Loan approved, the applicant needs to meet only basic eligibility conditions such as age, employment, and income criteria.
- Flexible Tenure: Most lenders offer flexible repayment tenure for Personal Loans. Applicants can choose between 12 to 60 months to repay the loans in easy EMIs as per their budget.
- Instant Approval and Disbursal: Since the entire process of Personal Loans are online, the approval and disbursal process is instant. The process is completely paperless, and the amount is disbursed within 24 hours of approval.
- No collateral: There’s no need to pledge your assets when you apply for Personal Loan because it is unsecured loan. Keep full possession of your assets and borrow online with no hassles!
The eligibility conditions for Personal Loans are simple & basic:
- The applicant must be an Indian citizen
- The minimum age of the applicant at the time of loan application should be 22, and a maximum of 58 at the time of loan maturity.
- The applicant must have a full-time job at a public/private limited company or an LLP.
- The applicant must have at least one year of work experience with at least two months of steady employment at their current job.
- Applicants must have a minimum monthly income of ₹20,000.
- KYC documents: Aadhar and a PAN card
- Address proof: Passport, Utility bill, or Rent agreement
- Income documents: Latest pay receipt and bank account statements for financial records.
- Employment proof: Certificate of employment and a degree for professionals such as Chartered Accountants, Doctors, or Company Secretaries.
Personal Loans are the ideal option when it comes to paying for significant expenses and managing financial emergencies. So, if you’re looking for a reliable lender for taking an instant Personal Loan to cover your emergency expenses, you can choose Poonawalla Fincorp without giving a second thought. This NBFC allows customers to avail of an instant Personal Loan at a competitive interest rate of 10.99% with flexible repayment tenure.
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