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Personal Loan
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Product Info

Personal loans are the loans that can be utilized to fulfill your dreams. Be it buying a new electronic gadget, urgent cash requirement for your business or for indulging in a shopping experience. Life is so uncertain that some or the other urgencies may come and you may need a support in the testing times. In this category, we can help you in assisting for loans for following:

  • Personal Loan
  • Travel Loan
  • Consumer Durable Financing
  • Medical Expenses
  • At www.theloancompany.in, you will get the best and Personal Loans options from our associated Banks & FIs. You can easily compare and choose the most appropriate one, of course just at a click of a button on your loan assisting platform www.theloancompany.in.

    Compare & Go with the Best!!!

    www.theloancompany.in will help you find the best finance associate appropriate to your loan requirements. We are affiliated with the best, trusted and reputed Banks & FIs to ensure that you can make an easy & thorough comparison and are completely satisfied with the offer before you choose the Best Deal.

    Choosing the Best… But How???

  • Offers will be best suited to your requirements, which you can compare and select the best out of these customized offers / deals.
  • After this comparison, your application will be sent to the Bank or FI chosen by you. This would save your time and resources and we will take care of the rest.
  • Once you have applied for the loan, the application will be sent to the Financial Institution of your choice, thus saving your time and resources involved in visiting a bank or NBFC or doing paper work.
  • Benefits of Personal Loan

  • Tenure up to 8 years
  • No security / collateral required
  • Easy repayment through Equated Monthly Instalments (EMIs)
  • What is Personal Loan used for?

  • Meeting personal expenses like holiday, buying a smartphone etc.
  • Meeting personal / social expenses like expenses incurred during a wedding etc.
  • To tide over an medical emergency / sudden loss
  • Buying a gift for your loved ones
  • Who can borrow Personal Loan?

  • Salaried Individuals
  • Self-Employed Individuals engaged in the business
  • Self-Employed Professionals like aCA, a doctor, an architect etc.
  • Person above 21 years of age up to 65 years of age
  • For salaries, age between 21 to 60 years
  • For Self Employed, age between 21 to 65 years
  • How much can you borrow?

  • Loan amount range from Rs.50,000 up to Rs.50 Lacs
  • For Salaried, Rs.50,000 to Rs.25 Lacs
  • For Self-Employed, Rs.1 Lac to Rs.50 Lacs
  • Depends on the salary drawn or monthly income, in case of self employed
  • Minimum Income of Rs.20,000 and above per month
  • Keep in Mind…

    www.theloancompany.in, we wish you to make note of following pointers in order to manage your finances in a better way. So, before availing the loan -

  • Check the Interest rates and other service charges like processing fee, prepayment charges, foreclosure charges as indicated by the providers.
  • Your CIBIL Credit Rating Score and credit history, a high CIBIL Credit Score with no default on payment can help you get approvals quickly and / or lower interest rates / charges.
  • Documents Required

  • Identity Proof (Passport, Pan Card, Driver’s License etc.)
  • Proof of Residence (Ration Card, Property Documents, Registered Rent Agreements, etc.) – preferably, in name of self, spouse, fathers
  • Bank Statement for 3 to 6 months. In case you are a salaried individual then the bank statement from your salary account
  • Salary Slips (generally for latest 3 months) from your current employer
  • Self-Employed applicants will require to submit Profit and Loss accounts, Partnership Deeds, Balance Sheets, Income Tax Return and other documents as requested by the loan provider
  • Other documents as required by the respective Financial Institutions
  • FAQS

    What interest rate is usually applied to Personal Loans?

    Different Financial Institutions offer different Interest Rates. They may also vary depending on an individual’s profile. In most cases, Interest Rates will range from 14% to 28%.

    What amount of loan am I eligible for?

    Ideally you should borrow only as much as you can pay back in a comfortable manner. The EMI of your Personal Loan should preferably not exceed your disposable income (monthly take home after deducting existing EMIs for other loans you may have taken and household expenses).

    Other criteria that will determine the amount you are eligible for are the tenure you wish to opt for, the company you work with, your credit history and sometimes where you live.

    Can a Personal Loan be applied for, with a co-applicant?

    Yes, you can indeed apply for a loan with a Co-Applicant. All you have to do is specify it in the online application form. When you do this, you can increase the amount of loan you may be eligible for. Ofcourse that also depends on the Co-Applicant’s profile, income and obligations.

    Can you give me a little information on Credit History?

    A credit history basically records your repayment of past loans and credit card bills. The Credit Bureau of India Limited (CIBIL) maintains credit history and it is important that you have a good Credit Score with CIBIL if you wish to avail the loan without too much trouble.

    How can I compare loans from different providers?

    All you have to do is complete the Eligibility Form and you will get access to customized quotes from a number of loan providers. You can thoroughly go through all of them, compare Interest Rates, EMIs, Repayment Charges and Processing Fee and make an informed decision and avail the Best Deal.

    What are Repayment Charges, and should I consider them while making a decision regarding my loan?

    When you avail a Personal Loan, you have to pay it back within 1 to 5 years, depending on the tenure you have chosen. In case you decide to repay the amount earlier than agreed, then there may be a prepayment charge levied. This could go up to as high as 5% of the principal outstanding (balance loan amount), and it could also vary depending on the borrower’s credit profile as well as the bank’s policies. When making your decision on repayment, you should check if the interest to be paid is more than the repayment charges, so that you can save some money in the bargain. Yes, this is indeed one criteria that you should keep in mind, when deciding between Personal Loans.

    Fixed Interest and Floating Interest Rates, what is the difference?

    The difference is simple, when you avail for loan at a fixed interest rate, it will remain the same throughout the tenure, irrespective of market performance. However, with a floating interest rate, market fluctuations will determine increase or decrease of interest rates. In most cases, Personal Loans will be offered at a Fixed Interest Rate.

    Will I be charged by theloancompany.in for the services offered?

    No. The service offered by theloancompany.in are completely free of charge.

    Will my data remain secure?

    Your data will not be shared with any third party, except with the Financial Institution that you decide to apply to. We use the most secure technology to ensure security of data shared by you.

    Customer Feedback
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