What is Personal Loan?
No matter how financially secure or broke, at some point in time, we all need that extra economic support to make our dreams come true. And, this is when Personal Loan comes in for the rescue. You may opt for the personal loan in Delhi or in any other cities of India to cover the expenditures for various reasons, including marriages, travel, home renovation, and many others. The best part about such loan is that it doesn’t require any collateral or security. In fact, it is offered with minimum documentation and paper-work. Also, the process of applying and getting the approval for personal loans is simpler and easier than any other forms of loan.
However, you need to check the personal loan eligibility criteria before applying for the same. Also, you must be aware of your credit score. In some cases, if the CIBIL or credit score is poor, a few of the major financial institution avoids providing loans to the borrower. However, with Rupee Station, you are free from this tension as we also offer loans for poor credit as well. And, with us, the process of applying loans is quite simple and easy.
Why Choose a Personal Loan?
Though there are several types of loans which one can avail now, settling for the personal loan is still considered to be better choice by a lot of experts. Let’s find out some of the reasons why it is said to be always beneficial for you:
If you are looking for quick financial support without the collateral, the personal loan needs to be your first choice. It doesn’t demand anything as security from the borrower. And, based on the credit history of the applicant, the loan is offered to him/her. Also, the process of availing cheap personal loan is also quite simplified and hassle-free.
If you opt for the personal loan, you would also get the benefit of choosing the tenure for the repayment of the borrowed amount. And, the longer the tenure, the lower would increase your EMI. So, you can beforehand calculate your EMI and then choose the tenure accordingly. You may use our personal loan EMI calculator tool for a proper calculation.
Another significant benefit of lending personal loan is that it provides a fixed rate of interest. So, in this case, the calculated monthly installment would remain the same for the entire tenure. Hence, you would not have to worry about the change in the rate of interest. So, if you are looking for easy personal loan, apply online now with Rupee Station.
Unlike other loans, personal loans require fewer documents to be submitted by the applicant. And, as a result, the process takes less time for the same. So, you can easily apply for quick personal loans without being worried about the formal proceedings.
If you have taken the loan for any specific purpose, be it for marriage or home renovation, you might get tax benefits for up to 2 lakhs. However, you need to submit documents for the verification, and only after they are approved, you will be able to get the benefits.
Types of Personal Loan
At Rupee Station, we offer several types of personal loans. Such as:
Personal Loan Eligibility Criteria
Though all banks have different eligibility criteria for offering personal loans, we have decided to enlist some of the most important and common ones below. Take a look:
Documents Required for Personal Loan
How to Apply for a Personal Loan?
|BANK/NBFC||Interest Rate||Processing Fees||Loan Amount||Foreclosure Charges|
|10.99% - 17.99% / Year||From Rs. 999/- Up to 2.0% of the loan amount and applicable Service Tax||50k to 25Lakhs||Allowed after 6 EMIs, up to 5%||Apply Now|
|10.99% - 20.00% / Year||From Rs. 1500/- Up to 2.5% of the loan amount||50k to 40Lakhs||Allowed after 12 EMIs, Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%||Apply Now|
|11.00% - 24.00% / Year||Up to 2.50% of the loan amount and applicable Service Tax||1Lakh to 30Lakhs||Upto 4%||Apply Now|
|11.49%-19.00% / Year||From Rs. 999/- Up to 2.0% of the loan amount and applicable Service Tax||75k to 20Lakhs||Upto 4%||Apply Now|
|11.49% - 20.00% / Year||Up to 2% of the loan amount||1Lakh to 20Lakhs||Upto 4%||Apply Now|
|11.69% - 15.00% / Year||1.5% of the loan amount||1Lakh to 20Lakhs||Allowed after 1 EMIs,2 - 2.5% of outstanding amount||Apply Now|
|12.00% - 16.00% / Year||Up to 2.0% of the disbursed loan amount||1Lakh to 20Lakhs||For Flexi Product 0% and Normal PL Upto 4%||Apply Now|
|12.00% - 20.00% / Year||Up to 2%||1Lakh to 20Lakhs||Upto 5%||Apply Now|
|12.00% - 35.00% / Year||Up to 2.0% of the loan amount and applicable Service Tax||1Lakh to 15Lakhs||5% of principal outstanding||Apply Now|
|14.00% - 20.00% / Year||Up to 2.0% of the loan amount and applicable Service Tax||1Lakh to 20Lakhs||a) No foreclosure before 6 months on book.
b) 5% of Principal outstanding below 12 months and 3% of Principal outstanding post that.
|17.25% - 35.00% / Year||Up to 3.5% of the loan amount||65k to 20Lakhs||Upto 4%||Apply Now|
We have tried to simplify the entire loan-taking process to a large extent. So, now you can get your loan amount in your account with just a few clicks. All you need to do to apply for personal loan with Rupee Station is:
Why choose Rupee Station for Personal Loan?
Instant approval Personal Loan at lowest interest rate Online
We, at Rupee Station, promise the borrowers with an instant approval for personal loan at lowest interest rate online and in just a few minutes. You just need to fill up the form, submit a few documents, and then you are done! Once you have submitted them, we will instantly connect with you. Also, you will get quick personal loan approval from best financial institutions of India.
Best Personal loan for bad credit
Apart from offering the low interest personal loans, Rupee Station is also famous for providing loans for people with bad credit. We have our finance tools to let you calculate your credit score and EMIs. And, just in case, if your credit score is low, and your application for the personal loan is getting rejected a lot of times, we are there to help you out. We provide unsecured personal loans bad credit instantly to the borrowers and that too at the lowest possible interest rate.
Personal Loan Eligibility
As we have mentioned above, each of our banks and NBFC partners have a specific set of eligibility criteria. And, only if the borrower’s profile is matching up with their criteria, they will approve and sanction the loan to them. So, before applying for the loan, it is a good option to check the detailed list of the personal loan eligibility criteria. And, depending upon the same, the interest rate, EMIs and tenure of repayment will be decided.
How to get a personal loan from a bank?
If you are willing to apply for a personal loan, apply with us as we have more than 50 bank and NBFC partners who are ready to provide an instant approval for the loan application. No matter if you want the loans from the public sector banks like SBI or private sector financial firms such as HDFC or ICICI, we have a tie up with all of them. And, once you have applied for the same with us, we will assure that you get the approval from the top banks of India instantly. Also, just after you have received the approval, you will receive the funds in your bank account within a day or two. So, now you don’t have to worry about how to get a personal loan from a bank as we are there to help you out at every step.
Top Banks for Personal Loan in India
Rupee Station has a tie-up with more than 50 banks and NBFCs. So, availing all types of loans with us is an easy process. In fact, we believe in a hassle-free loan process, and so we have a paperless document submission and verification process. Some of the top banks of India for availing personal loan at Rupee Station are:
HDFC BANK PERSONAL LOAN:
HDFC Bank provides personal loans at lowest rate of interest, starting from 10.99%. It offers the option to choose a flexible tenure of repaying the loan amount. In fact, minimal eligibility criteria are required to avail the HDFC Bank Personal Loan in India.
ICICI BANK PERSONAL LOAN:
No matter if you are salaried or a self-employed individual, you will get the loan from the ICICI Bank instantly. However, quite similar to any other banks, your eligibility criteria would play a vital role in providing you the approval for the same. The interest rate of ICICI Bank Personal Loan in India is lower as compared to other personal loan providers in India.
SBI BANK PERSONAL LOAN:
You would be glad to know that SBI sanctions loan to the salaried individual up to 10 times more than their net monthly income. Also, it has a lot of schemes to offer to the government employees and pensioners.
Check free credit score rating for the personal loan
If you want to check free credit score before applying for the personal, you can do it with our personal loan credit score checker. You just need to provide a few detailed information and documents, and you will receive the credit rating immediately. Also, it will help you to analyze if you are suitable enough for applying the personal loan or not. However, if your credit score is poor, don’t feel disappointed as we also offer bad credit personal loans.
Personal Loan EMI Calculator
Now, calculate your equated monthly installments with our EMI interest calculator. It is simple and easy-to-use. Moreover, it just needs a few minutes of yours to provide the detailed report of the EMI and the interest rate. So, use our free EMI calculator tool to get the brief infographic chart and calculation of your EMIs.
Tips to get bad credit loans guaranteed approval
If you want to get bad credit loans guaranteed approval, make sure that you have followed the tips that are enlisted below: