apply for a personal loan

All You Need to Know to Apply for a Personal Loan

A personal loan is money you borrow to serve any personal needs. For example, the personal need could be consolidating debt, paying for home renovations or medical bills, planning a dream wedding, or other expenses.

With Fullerton India, you can avail of easy personal loans up to 25 lakhs within the minimum interest rate just in a few minutes! The documentation procedure is simple and easy. Fullerton no-collateral personal loan is available to salaried and self-employed people with no hidden fees. Also, our online calculator can tell you if you’re eligible for a personal loan in a matter of seconds.

Benefits of a Personal Loan

  • You can apply for a personal loan for any of your purposes.
  • Fast Approval.
  • Low Rates of Interest as compared to credit cards.
  • No guarantor or collateral is required.
  • Easy documentation.

Personal Loan Eligibility Checkpoints

While seeking a personal loan, you need to fulfill a few criteria, which includes-

  • If you are an individual between 21-65 years of age.
  • You are salaried or employed and earn a salary of more than 25000 if you live in Delhi or Mumbai. Otherwise, a monthly income of 20000 is the bar you need to apply for a personal loan.
  • You have a CIBIL score of 750 or above. EMI of loan cannot be more than 60-70% of an individual’s monthly salary.

Once you meet the criteria for applying for a personal loan, you can apply for the same, and the amount will be credited to your account within 30 minutes of approval!

Must Read: 5 Things you Must Know Before Availing Personal Loan in Pune

How to Apply for a Digital Personal Loan?

Personal-Loans

The internet is a good place to look for information or to make small purchases. Unsecured personal loans are readily available on the web, and applying for them online leaves out the need to visit any bank branches. Many lenders offer this service as they recognize the convenience it offers, but also because it makes sense from their perspective too.

Here are Two Ways in which you can Apply for a Personal Loan:

  • Online application through lenders’ websites: This is the most convenient way to apply for a personal loan. It requires you to fill in an online application form and submit it with the required documents. This approach saves you the hassle of having to visit branches and applying physically. Most lenders, such as Fullerton India, offer an end-to-end digital process. From application to disbursal, everything can be done online. Lenders also offer tools such as personal loan EMI or interest rate calculator and personal loan eligibility calculator to make things easier for borrowers.

  • Personal Loan Apps: In a move to make personal loans available to everyone, lenders offer instant personal loans through mobile applications. You can check your eligibility, fill an application, submit your documents, and track the application from the convenience of your phone. Some of the apps also help you get personalised loan offers from various lenders on one platform.

Personal loans are now available anytime and anywhere to fuel your needs. Check out the best personal loan offers on various parameters like interest rates, tenure, and other fees to make an informed decision.

Must Read: How to get a Fullerton India Personal Loan? – Step by Step Guide