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Personal Loan

Personal Loan can be utilized for any Immediate Financial Needs like Children's Education, Medical Emergencies, Wedding Expenses, Home Renovation, Starting a Business or notwithstanding to close some other Financial Liabilities.

  • No prepayment and dispossession charges
  • credit sum beginning from Rs. 50,000 to Rs. 15,00,000
  • adaptable reimbursement residency

Finexperts can provide Personal Loan from :

Personal Loan from Private Bank : Standard Chartered Bank, ICICI Bank , Yes Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, HSBC Bank, Induslnd Bank and RBL Bank.

Personal Loan from Non Banking Financial Company (NBFC) : Fullerton India, Aditya Birla Finance, LIC Housing Finance, Magma Fincorp, Reliance Capital, DHFL Home, Indiabulls, Tata Capital, Bajaj Finserv, Capital First.

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Diverse Purposes for Personal Loan through Finexperts

Economic Restructuring

Medicinal Emergecies

Balance Transfer

Travel & Tourism

Home Renovation

Wedding Expenditure

Eligibility for a Personal Loan

Personal Loan Eligibility for Self Employed Individuals

  • Minimum age of 24 years
  • Age at the time of loan maturity should be no more than 60 years
  • Net annual income should be no less than Rs 250,000
  • Should have at least 2 years of work experience in the current business or profession

Personal Loan Eligibility for Salaried Individuals

  • Min age of 21 years
  • Age at loan maturity should be no more than 65 years
  • Minimum monthly income should be no less than Rs 15,000
  • Should have been employed with the present employer for at least an year

Finexperts provides you with personal loan to fulfill your dreams with minimum documentation

List of documents for Salaried

  • Latest 3 months Bank Statement (where salary/income is credited).
  • Salary slips for last 3 months.
  • Proof of Identity:- PAN Card / Aadhaar Card / Driving License / Voters ID
  • Proof of Residence:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).

List of documents for Self-Employed

  • Proof of continuity of business.
  • Proof of residence or office ownership.
  • Office address proof.
  • Latest 6 months Bank statement.
  • Income proof (audited financials for the last two years).
  • Proof of Residence:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
  • KYC Documents : Proof of Identity, Address proof, DOB proof.

Benefits of Personal Loan

  • No limitation on end use : - The first and the most important benefit of personal loan is that unlike home loan it can be used for any purpose. There are no limitations on the end use of the personal loan. You have any urgent requirement of funds; personal loan can be one of the easiest ways to get cash.
  • No collateral required : – You don’t have to arrange for any collateral. It is an unsecured loan. Therefore, it is easy to get it.
  • Fixed rate of interest : – Personal loan is generally available on fixed rate of interest. So the equated monthly installments will remain fixed for the entire loan tenure. Therefore you don’t have to worry about the interest rate changes.
  • Tax benefit : – If you use the personal loan for the construction, renovation of house or making down payment for the house, you can avail the tax deduction of up to Rs 2 lakh under Section 24B for the interest part in a financial year. But remember that you will have to provide enough documents to prove that the money has been utilized for that purpose only.
  • Flexibility to choose the tenure: – The tenure of the loan goes up to 7 years therefore you have the flexibility to choose a tenure which suits you best. Longer tenure means lower EMI and vice versa. Therefore you can decide you can decide tenure after calculating the EMI. Use our EMI Calculator to calculate the EMI.
  • Quick disbursal: – If you meet the eligibility criteria and have a good credit score, you can get personal loan in 3 working days. Infact some of the banks provide the facility of online approval of personal loans for existing customers.

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