Personal loan with low interest rates is unsecured in nature and granted by a bank or nbfc (Non-Banking Financial Company) to an individual to cater various ranges of personal needs. If planed well a personal loan can help in gaining tax benefits and help in enlightening individuals CIBIL score. A fewer benefits of personal are jotted down.
Flexible tenor and uses : Tenor up to 84 months and being flexible in nature has significant benefits unlike renovation and decoration of home, wedding purpose, for traveling to your dream destination, higher education, sudden medical emergency, purchase of jewellery and electronic gadgets purchase of used car where used car loan interest rate are on a higher side and tenor is on a lower side moderately personal loan with low interest rates and have a long tenor.
Swift disbursal: disbursal TAT (turnaround time) is depend upon customer profile and bank to bank eligibility standards. Usually it take 24-72 hours at most. Good cibil score is an added advantage.
Minimal documents:limited numbers of documents require for swift approval and online disbursement. Being online this process is quick simple and hassle-free which can fetch you out of any crisis you are in faster than your imagination.
Lucrative interest rate:personal loan are moderates and vary depending upon loan amount and tenure. Rate starts from 10.50%
Tax aids:Maximum claim limit under section 24b is RS. 200000 on loan interest, eligible for self-occupied and rented property and one can take benefits on two self-occupied housing properties.
Read on to know the criteria required to apply for our Personal Loan.
To qualify for a personal loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a personal loan.
Age should fall under the range of 21 years to 60 years
Net monthly income should be 17,000/- for salaried
Credit score must be above 700
Debt-to-income ratio
Employment stability
Maintained a good credit score
Clear repayment history
Must be a Resident Citizen of India
Identity Proof: Passport, PAN Card, Aadhaar Card, Voter’s ID, Driving License.
Proof of Residence or Address Proof: Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Electricity Bill, Telephone Bill, Ration Card
Age Proof:Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
Income Proof: 1 year Bank statement, 3 months Salary Slips
Employment Proof: Joining Letter, Company Mail id.
Photograph: Passport-size photographs
Income tax returns: Form 16 or 26 AS
An EMI calculator is a useful tool that can help you estimate the monthly installments you will have to pay towards your personal loan within a specific period. By using the Noble Fintech Advisory EMI calculator, you can calculate your EMI beforehand, which can help you plan your finances better. Additionally, you can check your eligibility and compare different loan options using Noble Fintech Advisory Personal Loan calculator.
Yes, when you apply for an instant Personal Loan online, approval is much faster and easier. We approve your loan application instantly, provided the right documents are submitted.
A good credit score, typically above 700, is considered favourable for Personal Loan applications, increasing the chances of approval and securing competitive interest rates.
While salary is an important factor, it is not the sole determining factor for Personal Loan approval. Other factors like credit score, employment stability, and repayment capacity are also taken into account. With Noble Fintech Advisory., you just need to have a regular monthly income of Rs 15,000 to secure a Personal Loan.
The safety of a loan depends on various factors, such as your income, existing financial commitments, and repayment capacity. It is advisable to borrow within your means and ensure EMIs are affordable.
To determine your affordable EMI, consider your monthly income, expenses, and financial goals. Apart from it, use our online EMI Calculator to get an estimation of your monthly EMIs for better financial planning.
Personal loans are short-term unsecured loans that are disbursed quickly, to meet all your immediate /exigencies Requirement.
A personal loan is an unsecured loan that is not backed by
collateral or security. This makes it a flexible financing
option, as there are no limitations on its use.
The
followings are the ways a personal loan can be useful:
Debt consolidation: Combining multiple debts into a single loan with a lower interest rate to save money on interest payments and make it easier to manage debts.
Home renovation: Using a personal loan to fund home renovation projects can increase the value of your home and improve your living conditions.
Medical expenses: If you have unexpected medical expenses, such as emergency surgery or hospitalization, a personal loan can help cover the costs.
Emergency expenses: A personal loan can help cover unexpected expenses like medical emergencies or car repairs to avoid financial hardship.
Read on to know the criteria required to apply for our Personal Loan.
To qualify for a personal loan, you have to meet certain
criteria. Below are the important factors that lenders take into
consideration to decide your eligibility for a personal loan.
Age should fall under the range of 21 years to 60 years
Net monthly income should be 15,000/- for salaried and self-employed, yearly transactions should be a minimum of 20 lakhs
Credit score must be above 650
Debt-to-income ratio
Employment stability
Maintained a good credit score
Clear repayment history
Must be a Resident Citizen of India
Availing of a personal loan can be a daunting task, but it is essential to make an informed decision to avoid financial difficulties later. Here are some tips to help you select the personal loan for your needs:
Determine the Loan Amount: Before applying for a personal loan, assess your financial situation and determine the amount you need to borrow. Avoid borrowing more than you need as it may lead to debt traps.
Check your Credit Score: A good credit score increases your chances of getting a loan at a lower interest rate. Before applying for a loan, check your credit score and report to ensure that there are no errors or discrepancies that may affect your loan application.
Compare Interest Rates: Compare the interest rates of different lenders and choose the one that offers the lowest interest rate. A lower interest rate can help you save a significant amount of money over the loan tenure. You can also calculate your EMI by using EMI Calculator by visiting www.noblefintechadvisory.com
(INTEREST RATE INDEX)Evaluate Other Charges: Apart from interest rates, lenders may levy other charges such as processing fees, prepayment charges, late payment fees, etc. Evaluate these charges and choose a lender that offers the most reasonable fees.
(PROCESSING CHARGE COMPARISON)Check Eligibility Criteria: Different lenders have different eligibility criteria for personal loans. Check the eligibility criteria before applying to ensure that you meet the requirements.
Read the Terms and Conditions: Before signing the loan agreement, read the terms and conditions carefully. Understand the repayment schedule, interest rates, fees, and penalties to avoid any surprises later.
Choose the Right Tenure: Choose a loan tenure that is suitable for your repayment capacity. A longer tenure may lower your EMI, but it will increase the total interest outgo.
Look for Repayment Flexibility: When taking out a personal loan, it's essential to consider repayment flexibility as one of the factors. Repayment flexibility refers to the ability to pay back the loan amount at your convenience, without any financial strain.
Identity Proof: Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
Proof of Residence or Address Proof: Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Electricity Bill, Telephone Bill, Ration Card
Age Proof: Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
Income Proof: 1 year Bank statement, 3 months Salary Slips
Employment Proof: Employment Certificate, Office address proof
GST or VAT Registration for Self-employed
Photograph: Passport-size photographs
Business proof: Business registration documents such as a partnership deed, Memorandum of Association (MOA), Articles of Association (AOA), etc.
Income tax returns: Documents of the past 2-3 years to verify income and tax payment history
An EMI calculator is a useful tool that can help you estimate the monthly installments you will have to pay towards your personal loan within a specific period. By using the Noble Fintech Advisory EMI calculator, you can calculate your EMI beforehand, which can help you plan your finances better. Additionally, you can check your eligibility and compare different loan options using Noble Fintech Advisory Personal Loan calculator.
Yes, when you apply for an instant Personal Loan online, approval is much faster and easier. We approve your loan application instantly, provided the right documents are submitted.
A good credit score, typically above 700, is considered favourable for Personal Loan applications, increasing the chances of approval and securing competitive interest rates.
While salary is an important factor, it is not the sole determining factor for Personal Loan approval. Other factors like credit score, employment stability, and repayment capacity are also taken into account. With Hero FinCorp, you just need to have a regular monthly income of Rs 15,000 to secure a Personal Loan.
The safety of a loan depends on various factors, such as your income, existing financial commitments, and repayment capacity. It is advisable to borrow within your means and ensure EMIs are affordable.
To determine your affordable EMI, consider your monthly income, expenses, and financial goals. Apart from it, use our online EMI Calculator to get an estimation of your monthly EMIs for better financial planning.
Personal loans are short-term unsecured loans that are disbursed quickly, to meet all your immediate /exigencies Requirement.
At Noble Fintech Advisory, we strive to help you go beyond the expected. We don't just offer loans; we provide financial solutions tailored to your needs. Our commitment to transparency, excellence in customer services, our innovative loan products ensures that you achieve your goals with confidence.
217, Off B/2, Parmar Trade Center, 12 Cannaught House And Road, Pune, Maharashtra, 411001
