Want to go for a vacation or need money for marriage or want to furnish your home? Whatever may be the reason, you have a golden key to your dreams. The golden key is Personal Loan which can fulfill all your dreams so that you don't have to compromise.
With Banknomics, you can open the lock. You get many options here. You can compare Personal Loan rates and apply for an online Personal loan at lowest rates. With Banknomics, you can't just apply online for Personal Loan but also get the best advice on getting personal Loan Online Approval. You don't need to go to all banks for a loan as here all banks are available at a click away.
Personal Loans are flexible and designed as per your needs. Borrowers avail this type of loans to meet their short-term financial needs. You can get a personal loan with low-interest rate without any collateral or security. It is an unsecured loan with repayment term from 1-5 years.
Why avail for a personal loan?
Personal Loan is the best-suited option when there is a scarcity of cash-flow. Borrowers prefer personal loan because of its flexibility and quick processing. Banks and NBFCs have observed the market. According to the market's condition, they offer Personal loan for self-employed and salaried too.
Personal Loans can be used for several reasons including:
Points to be considered before Applying for Personal Loan
Benefits of Personal Loan
Secured Personal Loans
If you have a house, you might think to take a secured personal loan. This could be riskier because if you are unable to repay your loan, you have to lose your house too.
The cooling-off period is time for the borrower to rethink about the final purchase or taking a loan. The borrower can rethink about the loan even after he has taken the loan.
Generally, the cooling-off period is 14 days. It starts from the day you received or signed the agreement, whichever is earlier. If you cool-off the loan, you get 30 days to pay back the interest and principle amount.
Personal Loan Eligibility Criteria
Personal Loan is an unsecured loan. So banks make sure that they are lending money to a person who is able to payback. To be sure about this, they take the following criterion into consideration:-
Personal Loan Eligibility Calculator
Documents Required for Personal Loan
Additional documents required for salaried person -
Additional documents required for self-employed person -
Personal Loan Interest Rate
Rates of Personal Loan in India starts from 11.29%. Personal Loan Interest Rate differs from bank to bank. Personal Loan Rate of Interest also depends on the loan amount, Loan tenure, Income of borrower and credit history too.
Personal Loan EMI Calculator
Personal Loan does not come with the end use condition like a car loan or home loan. So, this is the most convenient source of borrowing money. Personal Loan EMI Calculator is an easy tool to help you to plan your EMI and Loan tenure. EMI calculator is a tool that will answer your questions before you avail a loan. These questions will be about loan amount, loan tenure, affordable interest rate etc.
Benefits of EMI calculator
Using an EMI calculator is important before taking a personal loan. Here are the points that will show the importance of Personal Loan EMI Calculator:
To know your EMI, Calculate here with Personal Loan EMI Calculator.