Personal loans are widely available product in India offered by majority of the banks and NBFCs to ease people facing financial worries. Personal loan is an amount offered by banks to use it multipurpose be it for medical, travel, marriage, home renovation, business, purchases, etc.
With technology pacing, banking has shifted online, loan application and approval has also become almost online. With easy availability and advancement, personal loan is just a few clicks. Many banks and NBFCs offer personal loans online. Home credit India is one such NBFC that offers personal loan up to 2 lakhs. You can avail personal loan with Home credit by downloading the Home Credit mobile app, registering with your details, choose loan amount and tenure and upload just a few documents and wait for the approval. Get the documents verified at our point of sales once your loan gets approved and your work is done. Get the amount disbursed in no time. Personal loans are easy!
What is needed to Get a Personal loan in India?
With digitization of processes, the process has become quite sorted but every product has its own requirement. Let us understand the general needs to get a personal loan in India.
Employment – Regular employment or business giving you monetary gains.
Income– Income is one such requirement that is a must to avail a loan. The reason is obvious, when you borrow, it’s your responsibility and duty to return what you have borrowed. A monthly salary/income is a mandatory requirement for a personal loan in order to repay the loan within a stipulated time.
Active bank account that shows regular credit and debit history.
Address or ID proof to know the place of residence
PAN card is a must to avail any sort of financial assistance.
Decent credit history
How can you get a personal loan from Home Credit?
To get a personal loan with Home Credit. Here is what you need.
Eligibility for Personal Loan
|Age Group||Above 19 years|
|Income Group||Min Salary 18000|
|Loan Amount||Min Loan Amount 25000|
|Max Loan Amount 200000|
Home credit personal loans have the following document requirement.
- PAN card of the individual
- ID proof, voter ID, passport, driving license, etc.
- Address proof – passport, driving license, ration card, passport, aadhar card, utility bills, etc.
- Bank statement of the income account with net banking facility
Also Read: TOP 5 QUESTIONS TO ASK ONESELF WHEN APPLYING FOR A PERSONAL LOAN
How to find the best deals in Personal loans in India?
Explore the market: It is always advisable to search for the better deals in the market and analyze the variety of products serving your purpose.
Friendly T&Cs: Ensure that the personal loan offered has friendly terms and conditions and not too harsh on payments especially penalties.
Low interest rates and comfortable tenure: Low interest rates and realistic duration of repayment are the best when we look for financial assistance, since whatever you pay extra on the actual amount should be minimum so that the cost is effective and you have sufficient time for repayment that makes a personal loan a comfortable assistance.
Personal loans are respite at the time of crises, getting the best deal is a challenge. Take the decision wisely to get the best possible, paying extra is not bad if it is worthy.