The capital of India, Delhi, homes to many salaried professionals and self-employed individuals who earn their monthly decent salary but unfortunately being forfeited by certain unexpected circumstances, a financial emergency may arise. No matter how much planning took place in budgeting your life in metropolitan cities, somehow an urgency may arise out of the blue also the cost of living in Delhi is higher in comparison to many cities.
What can come at your rescue is applying for a HDFC personal loan!
Personal Loan Delhi is a fixed amount of funds transferred to an individual by a bank or other lender, which comes with a fixed interest rate and a fixed repayment tenure, personal loans are also referred to as unsecured as there is no collateral involved. To apply for a personal loan one just requires a regular source of income and a credit score above 750.
Important features of Personal Loan Delhi :
In Delhi, the range of a personal loan amount exists between Rs. 10,000 to Rs. 40 lakhs offered by many banks and non-banking financial companies, an applicant can apply as per requirement and eligibility.
Tenure can also be chosen as per the repayment ability of a customer ranging from 12 months to 60 months.
Visiting a bank for submitting a loan application is an ancient practice nowadays as the whole process can be completed online, just upload the necessary documents to process your loan application.
Once all the information is verified after minimal documentation, the loan is approved and funds are transferred with 3-4 business days.
Important checklist of documents to follow for a personal loan in Delhi.
Identification proof (Aadhar card/ Driving license or Passport)
Salary slips of last 3 months
Bank statements for the last 6 months
PAN card
Residence Proof (Electricity bill/ Rent Agreement)
Passport-sized photograph -2
Personal Loan Delhi - Interest Rates :
The Banks in Delhi charge a reasonable interest rate which varies as per an individual’s age, credit score, repayment history, etc. Variation may be presented as interest rates are comparative values between different providers but it may start from 10.99%,
Before applying to a personal loan you should also know that there are other fees and charges applicable on a personal loan excluding personal loan Delhi interest rates and they are processing fees, late payment fees, foreclose charges, etc.
Personal Loan Delhi - Eligibility Criteria :
Nationality should be Indian
The profession should be either self-employed or salaried.
The minimum age to apply should be 21 years old
The monthly pay of the individual should meet bank criteria
The credit score should be 750 or above.
It's also a good suggestion to keep in mind while thinking about the interest rate is to calculate the EMI too, equated monthly installments are the fixed charges paid as a monthly repayment for the personal loan amount borrowed, The Personal loan Delhi EMI calculator works on the basis of the interest rate charged by the bank and the amount of loan taken and the time tenure for which the loan was applied.
Furthermore, you would be relieved to know that there is no end-use restriction on the use of the personal loan amount and it can be used anywhere suited by the borrower as even in the name suggests it's a personal loan for personal use.
Read More:- REPAYMENT OF GOLD LOAN
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