Can we apply for Personal Loan Online

 

You can avail a personal loan if you need money for a medical emergency, home renovation, family vacation or buying furniture, etc. Personal loan is an unsecured loan, which means you do not need to pledge anything in the bank and it can be used for any purpose. In this article, we will explain how you can apply for a personal loan.

Personal loan statement:-

- Interest rate – 8.95% p.a.

- Loan amount – up to 50 lakhs

- Loan tenure – up to 5 years

- Processing fee – 0% - 3% of loan amount + GST

Top Personal Loan Plans & Offers:-

You can either directly visit the official website of the bank to apply for a personal loan or visit the GRD India website to compare loans and then apply for the loan that will be suitable for you.

- Citibank Personal Loan

Low Interest Rate

Interest from 9.99% p.a. to 16.49% p.a.

Loan amount up to Rs.30 Lakhs

Loan tenure of up to 5 years

- HDFC Personal

Loan Self-Employed Professional

Interest rates ranging between 10.5% p.a. and 21.00% p.a.

Loan Tenure of up to 5 years

Loan amount up to Rs.40 lakhs

- Kotak Mahindra Personal

Loan Quick Turnaround Time

Interest rates starting at 10.75% p.a.

Loan amount up to Rs.20 lakhs

Loan Tenure of up to 5 years

- IDFC First Personal Loan

Top-Up Loans

Interest rate starting at 10.49% p.a.

Loan amount up to Rs.40 lakhs

Loan Tenure of up to 5 years

- SBI Personal Loan

Various Income Categories

Interest rates start at 9.60% per annum.

Loan amount up to Rs. 20 lakhs

Loan tenure of up to 7 years

- PNB Personal Loan

Affordable Interest Rates from 8.95% p.a. onwards

Loan amount up to 10 lakhs

Loan tenure of up to 60 months

- Tata Capital Personal Loan

Convenient Interest Rates are starting from 10.99% p.a.

Loan tenure of up to 6 years

Loan amount up to 25 lakhs

Process to apply for Personal Loan:-

Applying for a personal loan online has become very easy these days. You can apply for a personal loan online from any of the financial company or bank.

If you want to save your time then opt for online loans from GRD India financial services pvt. Ltd.

Through www.grdindia.in or any of the official sites of bank in a matter of minutes. The mode of online application is Following below:-

- You can directly check our website www.grdindia.in for personal loan or you can apply from any of the official website of any bank.

- You will be shown offers from multiple banks/lending institutions based on your loan approval probability.

- Now compare various options on parameters like interest rates, processing charges, prepayment charges and ratings and choose the best loan offer for you.

- Fill in some other basic information asked in the online form, so that the personal loan application can be sent to the bank/ loan institution chosen by you.

- Upload documents or set date and time to deliver documents.

- After this for verification, you will get a call from the bank by the agent.

- Discuss you all doubts from agent and there will be some basic formalities, complete them as bank's directions.

- After the verification is successful, the loan will be approved and the loan amount will be transferred to your account.

Personal loan eligibility:-

There are some following factors that are considered by the some lenders while looking at your loan application. If you meet these eligibility criteria, you can consider yourself eligible for a personal loan.

Criterion Salaried Self Employed

- Age 21 to 60 Y 22 to 55 Y

- Monthly Income 15,000 25,000

- CIBIL Score 750. Above 750. Above

- Min loan amount 50,000 50,000

- Max loan amount Rs.25 Lakhs Rs.50 Lakhs

Documents Required for Personal Loan:-

Requirements for Salaried person:

- Proof of Identity -Passport, Voter ID, Driving License or PAN Card

- Proof of residence- Passport or utility bill of home

- Proof of Income- Bank Statement of Salary - Account for the last two years

Requirements for self employed person:

- Proof of Identity -Passport, Voter ID, Driving - License or PAN Card

- Proof of residence- Passport or utility bill of home

- Proof of Income- Audited Financial Statement of the last two years

Frequently Asked Questions

How does a personal loan work?

You take out a loan when you need credit. for a personal loan Once you will submit your loan application to the lender, the lender will verify and approves it. Thereafter, the loan amount will be disbursed to your bank account. Once you receive the full amount of loan , you need to repay it to the lender through EMIs for the loan repayment tenure.

What is the maximum amount of loan I can get?

In India, there are some lenders who offer loan up to Rs 50 lakh. The maximum loan amount depends on the monthly income of the applicants.

How much loan can I get if my salary is Rs.25,000?

You can use the Personal Loan Eligibility Calculator to know how much you are eligible to borrow with a monthly salary of Rs 25,000. With a monthly salary of Rs 25,000, you are likely to be eligible for the loan. However, the lender will also check whether you have any other outstanding loans, your credit score, repayment capacity, etc. before deciding how much you can borrow.

 

How can I repay my personal loan?

There are several ways in which you can repay your loan. Examples:-

- Through Electronic Funds Transfer (EFT)

- By cheque

- By paying physically at a branch of lender

- Through Standing Instruction for automatic deduction from your account

When will a bank reject my personal loan application?

If you apply for a loan for which you are not eligible, the bank may reject your personal loan application. If you fail to submit the required documents then it can also lead to rejection of your application.

So, if you want to apply for personal loan you can apply it without any fear with GRD India financial services Pvt. Ltd. as per your needs and money requirement.

With GRD India financial services Pvt. Ltd. you can get instant home loan at very low interest rates, it provides all kind of services to their client as per the banks norms. They make efforts for the clients in providing best loan price.