Get The Best Personal Loans In Delhi At Realfinserv
Anyone can get personal loans in Delhi from banks and other financial institutions, but if one has to avail of the best loan at the most competitive rate of interest, then one must go with the services of Realfinserv. On a general basis, the personal loans can be referred to as loans with no collateral and an unsecured way of getting funds and using those funds for several purposes.
With the help of Realfinserv, which is the best platform for personal loans provider in Delhi, all the individuals can get access to highly qualified providers of personal loans in India. This will help the people to get their life on track within a few seconds with the help of correct proceedings.
We charge no kind of commission from the people when they apply through us for the personal-based credit. We also give a guarantee to arrange the best possible personal loan for the people depending upon their needs and requirements. We also help to provide various other features like an EMI calculator, which can help to benefit all the customers a lot.
- Age should be between 23 years and 65 years.
- Minimum Rs15000/- credited per month in salary account.
- The minimum job experience be 6 months.
Personal loans can help to provide several benefits to individuals such as:
Personal loans help in building the credit score of the individual: The credit score is completely dependent upon the different types of credits that a person has. These may include the credit cards, installment loans, and various other finance-related accounts of the organizations.
One can increase the credit score with the help of the best quality personal loans. At the time of applying, one must check the credit history, and one must conduct a proper inquiry of the things so that there is no doubt in the mind of the individual.
Personal loans help to conduct proper planning for the expenses: A lot of credits are associated with high rates of interest but a personal loan that too with the help of us will not fall in this category. In case any of the individuals require money for any expense like repairing the car or any other, then one must try to find the source of funds with the least possible rate. Small savings in interest can help to fetch huge amounts in the years to come. One can also go with the option of personal loan calculators so that one can calculate the payment as well as interest charges.
Personal loans can help in refinancing the interest debt with other loans: In case any of the individuals have a higher interest loan, then the individual can consider paying off that particular loan with the help of personal loans. These loans will help in paying off the higher-interest loan at a very low interest. Hence, with a low amount of interest to be paid each month, the individual will have no stress and worry, and the progress of paying will become much faster than before.
Multiple loans can be consolidated with this: Sometimes paying different kinds of loans can be highly frustrating and missing even one of them can cause considerable penalties in the form of interest rates. Obtaining loans and managing them is a very crucial task that has to be performed by individuals. By taking personal loans to pay different kinds of loans, one will be able to consolidate all payments into one single payment for a month. The minimum payment on one consolidated loan will be less than the total minimum payments of smaller loans. So, this is a good option to be considered by the individuals and can provide several benefits to them.
Personal loans help individuals to know when they have to pay off: In case any of the individuals are trying to pay off credit cards, then sometimes there can be various kinds of management related issues. So, it is always advisable to go with the form of structured loan-based payment which can be provided by a personal loan through us. It will also help the individual to have a fixed rate, and the monthly payments can be very easily predicted in comparison to all other methods. Even the calculator is there that can help the individual to calculate the consolidated amount to be paid every month. This will help to plan and manage the things properly so that the individual is highly satisfied.
No risk to the assets of an individual with the help of borrowing of personal loan: Not every personal loan is unsecured, but most of them are. A lot of people go with the option of taking those loans which are not attached to the assets, and there is no risk to the assets of the individual. No one wants to use the home as collateral. But this never means that one is not supposed to pay the loan back because the consequences will be not that much severe. The financial institutions can still take various kinds of legal measures to collect the payment.
Personal loans save a lot at the time of refinancing student loans: The refinancing of student loans can help to provide a lot of financial relief to the individuals. People also have access to the low-interest rate associated with personal-based loans with the help of us so that they can pay the loans faster. The individuals must consider all the things very carefully at the time of availing the personal loan in this case, because student loans also provide various kinds of benefits.
Personal loans help in financing a particular purchase: The personal loans can also help in financing the particular purchase-related things. This entire scenario will depend upon what the individual needs. This can be considered to be a good financing option, but one must consider all the things associated very carefully.
Documents And Eligibility For Applying For The Loan
- To apply for the personal loan Delhi the applicant needs to submit documents like your PAN copy, government-recognized address proof, identity proof, and bank statements.
- You need recent passport-sized photographs while applying along with a duly filled and signed application form.
- You may also require submitting form 16 or proof of income tax returns. This is crucial for individuals who are self-employed.
- For salaried individuals, we need a salary slip of the past three months. For self-employed people, audited copies of business’s financial statements will also be needed.
You may also need to provide other documents on the basis of your personal or professional profile. Getting in touch with our team will be a good idea for further getting a clear idea of additional documents required in your specific case. Let’s have a look at some of the eligibility criteria for personal loan Delhi:
- The applicant must be a residing citizen of India.
- The age of the applicant must be between 21 to 60 years.
- The applicant should be a self-employed individual. He/she can be an employee of a public sector or a private limited company.
- If the applicant is a salaried individual, their minimum work experience must be at least 1 year considering 6 months completed with present employer.
- For a self-employed individual, we consider the yearly profit after tax, annual turnover, and other factors for determining your personal loan eligibility.
Salary Criteria For A Personal Loan In Delhi
- If the applicant is a resident of Delhi, their monthly salary must be at least Rs. 25000 when applying for the loan.
- The minimum salary requirement for the residents of Mumbai will be the same.
- For individuals residing in any other city of India, the minimum salary requirement is Rs. 20000.
Personal Loan Interest Rates In Delhi
- We offer an affordable instant personal loan in Delhi that begins at 11.9%.
- We analyze the financial profile along with repayment capacity, and credit score for finalizing the loan amount, interest rate, and duration of the loan.
- We also take into consideration other factors while approving the loan, such as residential location, age, monthly income, and existing monthly financial liabilities like credit card debts, etc.
- The loan processing fee is up to 3% of the principal loan amount borrowed by the applicant.
- We also offer the facility of foreclosure, but the charge is applied depending on the duration you opt for the foreclosure of the loan.
- The applicant can foreclose the loan after paying the first 6 EMIS.
What Is The Procedure To Apply For A Personal Loan?
- For getting an easy personal loan in Delhi, you can apply on the website.
- You need to provide the details as mentioned in the loan application form and ensure that you fill the information carefully.
- Before you apply for the loan, it is recommended to keep a soft-copy of the required documents handy so that you can upload them easily.
- Once you submit the application, our team will review the request and connect with you in a short while for the personal loan application status.
- You can visit our branch office by finding the nearest one in your location. Come and have a chat with our customer representative about all the available schemes for a personal loan in Delhi.
- If you find any of the schemes interesting, you can apply for the loan and submit the hard-copy of all the documents.
- After the verification of the documents and the loan application details, our team will inform you about the decision of the lender.
- You can also connect with us via telephone on our toll-free number.
- Our representative will guide you about the loan.
Key Features Of The Personal Loan
- It is a loan for both salaried and self-employed people.
- You can benefit from the facility to apply online with most of the lenders.
- The personal loan process has simple documentation and quick processing.
- The personal loan comes with flexible tenure, and you can choose from 1 to 5 years.
- There is no need for collateral, security, or guarantor required for a personal loan.
- There are special offers for professionals such as doctors, chartered accountants, company secretaries, etc. depending on the lender’s policies.
- There are special offers for existing customers.
- The loan amount starts from few thousands to many lacs.
Personal Loans In New Delhi
- All major banks and NBFCs are Personal loan provider in Delhi.
- Popular banks and NBFCs offering personal loans are RBL Bank, Indian Bank, Dena Bank, Bank of India, Canara Bank, SBI, IndusInd Bank, Union Bank of India, Axis bank, HDFC bank, Citibank, Standard Chartered Bank, Punjab National bank, ICICI Bank, Central bank of India, IDBI Bank, Bajaj Finance, Fullerton, Shriram Finance, Sundaram finance, etc.
- A personal loan is available for self-employed, salaried, and business people as well as NRIs.
Personal Loan For People With Bad Credit
- It is not impossible to get a loan with bad credit.
- You may get a loan but at a higher rate of interest.
- If you have bad credit, you can commit to improve your credit situation before applying for a personal loan in New Delhi.
Eligibility Criteria For A Personal Loan In Delhi
- The applicant must be between 21 years to 65 years at the time of maturity of the loan.
- Salaried individuals, self-employed people, and business professionals are eligible to apply for the personal loan.
- If you don’t earn a regular income, you need to talk to your bank manager about the situation.
- The minimum salary for the salaried people is usually Rs. 15000. However, the salary requirements depend on what tier of the city you live in and the company you work for.
- The applicant should be staying in the same company for at least 1 year.
- The total work experience must be at least 2 years.
- The applicant should have a stable employment history.
You can first check your eligibility criteria before applying for the loan.
Documentation Need For A Personal Loan In Delhi
For salaried and self-employed professionals, the following documents are required while applying for the loan:
- The applicant needs valid identity proof such as license, voter ID card, Aadhar card, PAN card (any one of the document to be submitted)
- The applicant needs valid address proof such as Lease/ rent agreement, passport, driving license, ration card, utility bill (not more than 3 months old), and bank statement.
- Documents of income proof, i.e. salary slip for the last 6 months and the latest form 16.
- Bank statement for the past 6 months with salary credit.
- Continuity of employment proof such as offer letter, relieving letter, etc.
For self-employed people and the ones that are into business need to submit some additional documents such as:
- Degree certificate/ educational documents for self-employed professionals.
- Proof of business existence
- Income tax returns for the last 3 years for self and business.
- Profit/loss and balance sheet for the last 3 years duly attested by a CA.
- Other documents as required by Bank or NBFC.
Personal Loan With Low Interest
- Lenders take into consideration your borrowing history for evaluating your ability to repay.
- For people with good credit score and a high income and low debt-to-income ratio, the loan can be approved at a low-interest rate.
- A personal loan is an unsecured loan.
- Therefore, the lenders are interested in knowing about your past credit behavior such as repayment record, number of credit accounts, credit utilization, etc.
- It has been observed that the higher the credit score, better the interest rates offered by lenders.
Some FAQs About Personal Loan In Delhi
- What is maximum and minimum loan amount for salaried people?
- The loan amount varies from a new thousand to lacs of rupees depending on the eligibility criteria such as borrowing history, income, credit score, and repayment capacity.
2. Is there any need for collateral to secure a personal loan?
- No collateral or security is required for getting a personal loan in New Delhi.
3. Why can a personal loan application get rejected in spite of a good credit score?
- When sanctioning the loan application, the loan amount is taken into consideration.If the loan amount is a smaller percentage of your annual incomes, the loan application will be approved. If the loan amount is a high percentage of your annual income, lenders might not be confident about your repayment capacity, and hence your loan application can get rejected.
4. How to repay the loan?
- The loan amount can be repaid in convenient EMIs, which is a monthly amount that your pay to the lender, which includes interest.
5. With a low CIBIL score, can I get a personal loan?
- It is advisable to take time and improve the credit score before applying for a personal loan.
So, anyone can apply for personal loans apply in Delhi easily with the help of the services of Realfinserv. And with our services, you need not worry about getting the loan. Connect with us for eligibility criteria and other formalities.
Where can a Personal Loan be used?
Personal loans can be used for any purpose such as medical emergency, wedding expenses, business expansion, house renovation, vacation expenses, etc. It can be utilized towards debt consolidation, paying for the down payment of new house or meeting educational expenses. The uses for which personal loan in Delhi can be utilized is limitless. The banks do not put any restrictions on its use. This is the very primary reason that demand for a personal loan is high as any kind of expenses can be met without much burden on its users. Hence personal loan is becoming the first choice of many people.
What is the eligibility criteria for applying for a personal loan?
For applying for Personal Loan in Delhi, one must need to follow certain requirements such as there must be a regular source of income whether you are salaried or self-employed. This is an essential factor as it determines whether you are capable of repaying the loan back or not. Another important requirement in case of a salaried employee is the company where he/she is working, and also, the credit history plays an important role in determining the rate of interest. Also, one must be minimum of 21 years of age and not exceeding 60 years of age. One can easily apply and get personal loan online as well.
What is the minimum amount one needs to borrow in case of a personal loan?
The minimum amount that one needs to borrow in case of a personal loan varies from bank to bank. It depends upon different bank's procedures and policies and also depends upon other factors as well. But usually, the minimum amount of easy personal loans varies from Rs. 25000 to Rs.30000. It may vary, but this is the standard limit. It is advisable to go through different lenders to choose the one which fulfills your requirements. Sometimes it also depends upon the source of income of one applying for the personal loan in Delhi.
What is the process of calculating the maximum amount of the loan?
The maximum amount that one can avail through personal loan varies from person to person. It usually depends upon the financial capability of the person in repaying the loan. For salaried employees, the maximum amount is decided on the basis of their salary. The loan amount is decided in such a way that it EMI of the personal loan should not exceed 30 to 40 percent of their salary. And in the case of self-employed, the maximum amount of personal loan is calculated on the basis of their profit. For this statement of profit and loss is analyzed.
Also, if there are other loans, then they are also taken into consideration. Credit history also plays an important role in availing of a low-interest personal loan in Delhi.
What is the time period for which personal loan can be availed?
A personal loan is high in demand not only because it can be put to multiple uses without any restrictions imposed by the bank but also the flexible tenure it can be borrowed for. The tenure for which personal loan in Delhi can be availed is from 12 months to 60 months. One can choose the time period as per their requirement, and it also depends upon the uses for which personal loan is borrowed. In some situations, a shorter or longer time period than the standard can be allowed by the lenders.
What are the various important documents that are required for a personal loan in Delhi?
The documents that are required for the personal loan may vary from bank to bank. But some key documents are required by every bank or financial institution. These includes:
• Document showing the proof of income.
• Proof of Address
• Documents relating to the proof of identity
• Any other documents as specified by the lender.
It is important to go through all the requirements of the lender before applying for the loan so that there is no headache afterward. The whole process has been made simpler by applying for a personal loan online.
What is the process of personal loan approval?
The process of personal loan approval in Delhi is very easy. It does not involve a number of lengthy and cumbersome steps, and the loan can be availed within a few days which was not possible earlier as one has wait for a longer time to get the loan approved. The approval process depends upon the lender to lender. The process can be completed within 48 hours, or it might take a week or two but not more than that. All one needs to get it documents ready so that process of personal loan can be approved at a fast rate and you can then put the amount of loan to use. Moreover, it has become easier through personal loan online approval.
What are the rates charged on a personal loan?
Personal loans are unsecured form of loans, i.e. one does not have to mortgage security in order to get the loan. Being an unsecured loan, the rate of interest charges on them are slightly higher when compared to other types of secured loans. The prevailing interest rates are different as per bank's discretion, but the lowest personal loan rate in Delhi charged is around 10.99 percent. There are certainly other factors that also affect the rate of interest such as credit history of the applicant, the income level of the applicant, tenure for which loan is applied for and also other loans that are being taken by the applicant also affect the rate of interest on this loan.
How to compare interest loan rate?
The interest rates charged on personal loans differ from bank to bank as it depends upon a number of factors. One must compare the interest rate of different banks and other financial institutions to get low-interest personal loan in Delhi. One can compare the interest loan rate of different banks through Real Finserv which provides you with all the details that are required in order to make an informed decision. In order to get the lowest rate on personal loan in Delhi, one may consider Real Finserv for all the guidance.
How to get the lowest interest rate on a personal loan?
As more and more banks, as well as other financial institutions, are offering personal loan in Delhi, one can compare the interest and thus get the lowest interest rate as per their requirements. Earlier one has to go physically to different banks and financial institutions in order to know about the interest rate, which made it difficult to get the best deal. It has now been made easier through the platform of Real Finserv which makes available the different rate interest of various banks or NBFCs so you can choose the best interest rate for a loan.