How & where to get Small personal loan online at lowest interest rates

People commonly take a personal loan for different reasons. Small personal loans are readily available on the online platforms of banks and NBFCs. As these loans are of medium capitals and you can get them at low-interest rates. However, checking the personal loan eligibility criteria is the primary task you should do. Moreover, you should also check the personal loan interest rates. Here is how and where you can get them:

 

Application Procedure of Personal Loans

The basic procedure of online loan applications remains the same. You need to check certain things while applying for one online. All the details are mentioned below:

The capital: The loan capital varies from one organization to another. You should check whether the bank or NBFC can provide you with the amount you need.

The interest rate: The interest rate on personal loans online for each organization remains unique. However, both banks and NBFCs maintain a range. It varies between15.5% to 30% for the banks and 12.99% to 19% for the NBFCs. 

The tenure: The tenure of the loan depends on the amount and the rate you are willing to give as the interest.

Age and income: No organizations in the country sanctions a personal loan to a seeker below 18 years of age. A few also consider 21 years as the minimum age limit. As per the income, the seeker must have a monthly income of Rs. 10,000 to get a personal loan.


Steps for application

Step 1: Visit the portal

Step 2: Check the personal loan eligibility

Step 3: Calculate the tenure and interest rate with a PL Calculator

Step 4: Provide all information that the portal demands

Step 5: Finalize and Apply for the personal loan 


Digital sources where you can get personal loans

Here are the details of some digital sources where you can get small personal loans:

Bank Websites: Many private banks deliver small personal loans to seekers through the website. You can directly apply for the loan by visiting the website portal. Generally, the banks provide personal loans for self-employed too. Some bank websites you can visit to get small personal loans are given below:


  • HDFC Bank Personal Loan Plans
  • Kotak Mahindra Personal Loan Plans
  • Axis Bank Personal Loan Plans

NBFC Websites: If you are looking for personal loans online, apply on NBFC websites as they can be the best when it comes to interest rates. Generally, the top-notch NBFCs in the country are reliable, and they have a good customer base due to excellent service. Some NBFCs where you can apply for personal loans are given below:


  • Aditya Birla Capital
  • Mahindra Finance
  • Tata Capital
  • IIFL Finance 

 

Final Words

Applying for a personal loan online is an easy task if you satisfy most criteria. You can take a personal loan for any monetary needs. Mostly, people take this loan to purchase a commodity or during a health emergency. Therefore, the personal loan interest rates might seem high, but they can be of a minimum burden given the capital amount.

Thinking of a personal loan online apply? Go for it now!

 

Comments

Post a Comment

Popular posts from this blog

5 types of loans you need to know about that can help your Small Business

  As an Entrepreneur, you may have needed money at any point during the lifespan of your company. One of the most difficult problems an entrepreneur encounters when launching a new business is raising funding. How to get a small business loan ? How to apply for a small business loan ? What are the types of business loans for small businesses ? These are the concerns that keep business owners awake at night.    It is necessary to contact and obtain the necessary finances for the business to run without any hiccups. Banks are among the main supporters of startups in India, alongside investor’s capitalists and venture capital firms. Thousands of entrepreneurs receive money from them each year.   In this article, we'll look at the best small business loans for Indian entrepreneurs from banks for various uses.   You should also be aware of the benefits and drawbacks of each funding method. Calculating the number of funds needed, using those funds, proje...
Read more

INVESTMENT CONCEPTS TO LEARN ABOUT

 It is a bold assertion to make, saying that how bright one’s future is, is a function of how much that individual understands about investing and investments. No matter how successful one gets, there is always the realization that you can not always hold liquid cash, and it would be a smart choice to start making investments that would pay in the future. Many come to this realization and start learning whatever they can about investments and investing. This is a good thing. This read is aimed at addressing four concepts that potential investors might want to know about. These concepts are ·        Mutual funds ·        Hybrid funds ·        Equity funds ·        Dynamic asset allocation fund   Mutual funds Mutual funds are concepts in finance that contain a value from different investors that include a portfolio of stocks, bonds, and other ass...
Read more

Tips to know before you opt for a personal loan

Image
  A personal loan is the need of the generation. Having a personal loan proves to be beneficial in ways more than one. It not only covers you in the time of crisis but also provides you with a sense of security when the other options are close. Moreover, it is very important to have preliminary information before you actually apply for a loan. Most of the time, personal loans are known to carry hidden terms and conditions that are inclined towards the financial institutions. However, there are a few things that need to be looked after before you opt for a personal loan: Personal loan eligibility Having a check on your eligibility is the first and the foremost thing that needs to be looked after. Listed below are certain eligibility criteria that you need to follow: Age limit: 21-65 years. Net Monthly Income - For business owners, they need to present their IT returns over a period of two years that represent profits.   For employees who are salar...
Read more