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Visit CRDTLIN Capital for hassle-free personal loans. We offer quick approvals, low-interest rates, and flexible terms. You can choose us for your financial needs.
- Get personal loans approved quickly for your urgent needs.
- Enjoy reasonable and transparent interest rates tailored to your financial situation.
- Experience a straight forward and easy loan application process for your convenience.
Personal Loan
What is a Personal Loan?
A personal loan is like borrowing money from a bank or a lending company for your own needs. It's not for buying a specific thing like a house or a car; instead, you can use it for various personal reasons. For example, you might take a personal loan to cover medical expenses, plan a wedding, or manage unexpected financial situations. When you get a personal loan, you agree to pay back the borrowed amount along with interest over a specific period. The interest is like a fee for borrowing the money. Personal loans are unsecured, which means you don't need to give any collateral (like your property) as security. They are based on your credit history and your ability to repay the loan. It's important to understand the terms and conditions before taking a personal loan and make sure you can manage the repayments.
Eligibility Criteria for Personal Loan
Eligibility
Only individuals can avail a personal loan and not businesses. Both salaried and self-employed individuals and professionals are eligible. That said, the criteria for eligibility can vary from one applicant to another. In the event that you are already paying an EMI towards a previous loan, your eligibility for a personal loan may go down. This is because your income in hand would be lower compared to a scenario where you are not already paying another EMI.
Work Experience
When applying for a personal loan, your work experience plays a crucial role. A stable job history and reliable income enhance your eligibility. Lenders consider factors like employment type, industry, position, and career progression. Changes in employment or gaps may raise concerns, so providing accurate and up-to-date information is essential for a successful loan application.
Credit Score
Above 750
Age
18 – 60/65 years
Loan Amount
Get loans up to 10 Lakhs, determined by your credit score
Employment Stability
Most lenders typically ask for at least 1 year of work experience, with some requiring more.
Business Continuity
Typically, lenders may ask for a business track record of at least 3 years, and some may require an even longer period.
Employment Type
Fixed salary positions in well-known companies, both national and international, private and public sectors, government organizations, public sector undertakings (PSUs), and large businesses.
Document Required
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Proof of Identity
- PAN Card / Voter ID / Aadhaar Card / Passport / Driving License
Proof of Income
For Salaried Professionals:
- Salary Slip / Bank Account Statement / Form 16
For Self Employed Individuals:
- ITR / P&L Statement and Balance Sheet / Bank Account Statement
Proof of Address
- Bank Account Statement / Aadhaar Card / Lease Documents / Property Purchase Agreement / Utility Bill / Passport / Driving License
Proof of Bussiness
- Certificate of Practice / Partnership Deed / GST Registration and Filing Documents / MOA & AOA / Shop Act License
Why Choose Us
We Provide Loan with
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Choose us for your personal loan needs and experience as a reliable and customer-friendly financial partner. Your financial well-being is our priority! Apply now and take the first step towards a stress-free financial future.
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FAQ
You Can Find All Answers Here
Approval times differ among lenders. Some online lenders offer quick approval decisions, often within a day, while traditional banks may take longer. Having all necessary documentation ready can expedite the process.
Some lenders specialize in providing personal loans to individuals with less-than-perfect credit. However, the interest rates may be higher, and the loan terms less favorable. It's essential to compare options and consider improving your credit before applying.
If you anticipate difficulty making a payment, it's essential to contact your lender immediately. Some lenders offer options such as loan modification or deferment. Failure to communicate with your lender may result in late fees or damage to your credit score.