Personal Loans have become the crux of the working-class individuals. It is the perfect solution to all your immediate financial requirements. You can get instant personal loan approval for all your special needs from your personal bank or any other bank including financial institution. It is easy to apply for a personal loan and get it disbursed to your account within a couple of days. Personal loans are not tagged in any category such as home loans or vehicle loans. Therefore, they are so popular, as the money can be used for almost anything. In fact, you may also take a personal loan to travel abroad for leisure purposes. The banks or financial institutions do not care about the spends you do and neither do they track them. All they care about is that you pay the instalments on time and accurately. Let us look at the many aspects of a personal loan.
There is no need to pledge the asset as guarantee to get an instant personal loan at wealthCounty
Loan Amount:You can choose your loan amount up to 25 lakhs and get it approved without much documentation. There are many banks and financial institutions that would offer you the same loan amount at different benefits and features. But most of the details would be almost same with a twist in the tale. It depends upon you to look at it as a preference and act upon it or go in for a different offer altogether.
Approvals for Personal Loans: Applying for an instant personal loan is not difficult. All you need to do is fill up the form and provide all the documentation needed. Once this goes in for an approval, your documents are scrutinized to know how strong you are as a loan repayor. There are a few parameters that help the officials to judge you. These include your income patter and sources, its stability and longevity, your background and academic qualifications, if the amount is huge then your fixed assets which can be looked upon for repayment purposes and finally any collateral if required. If there is a requirement a guarantor is also necessary for documentation purposes so that you know there is someone to catch hold of when things go out of hand. Many banks have a system that determines all such things when the inputs if provided. The result is generated which would help the bank or financial institution to approve your loan. This activity would not take more than a couple of minutes if everything is in place. Most banks and financial institutions vouch for a quick loan approval and disbursement so that individuals come to them in greed of getting the money soon.
Transfer of Disbursement:When the personal loan is approved, it is always a relevant question of when will the disbursement happen and how? Well, it depends on the individual’s choice and the details provided while applying for the loan. Once the loan is approved, you can get it into your bank account in the next 24 hours. This is the quickest time you can expect for any personal loan to be disbursed. It can be done earlier as well depending on the paper work you have.
Financial Obligations:Finance can be an obligation if you do not plan for your future. This can be for many types of requirements and you should look at the dire necessity and only then apply for it. A personal loan can be offered to you at any given point in time. But you should look at the added cost you would bind yourself into. This would at least give you the room to think if it is necessary or you are just taking it for the sake of applying for a personal loan? You should not limit yourself to something if the need is there and the solution to it is also easy.
No collateral required to get instant personal loan:You can get instant Personal loans from Wealth County very easily because there is no requirement for the applicant to provide any surety while asking for a personal loan. Please keep in mind that if the applicant has a track record of good credit score, the possibility of obtaining the loan at a lower interest rate are high. The procedure is simple and quick.
Documentation Process:Documentation process is the task for each loan product. You need time to collectively get all the documentation done. This can take a while if there are a few important papers missing. Therefore, ensure to keep your documentation in place for any such requirements. Also, personal loans do not need much of documentation unless there is a huge sum involved. Just keep your documents ready and submit it with your application form. Ensure that all the details are mentioned clearly so that nothing wrong is portrayed to get your loan rejected.
Loan Tenure Flexibility:Loan tenure is the most important part of any loan. This would decide the actual cost you would pay for the entire loan. The interest rate is also determinant on this aspect and you should weigh all your options before you take the plunge. The tenure can be anywhere from one year to 5 years. Any personal that goes beyond 5 years would mean that the institution is playing around with you unless your relationship with them is very strong.
Pre-Approval for Personal:Many banks and financial institutions run offers that have a pre-approval for instant personal loans. All you need to do is complete the required details and get the disbursement into your bank account. This pre-approval needs minimal documentation and you should go in for such schemes if you really need the personal loan. If you hold a credit card for such banks and financial institutions, then based on your past relationship with the bank, you can apply for a personal loan which is already approved, and you just need to show the need. Such pre-approved loans can be disbursed into your bank account with the click of a button within minutes as there is hardly anything needed to be done.
Charges and Penalty:When you apply for a personal loan, there are a lot of hidden charges and penalty that you are not known about and could pose a problem in the later part of repayment or pre-closure as well. You should read the offer document and the terms and conditions well. This would help you to know what is coming your way and how can you deal with it. It is important to know the penalty charges if you plan to close the loan before the tenure ends. If there are any hidden charges or government taxes, then you should be fully aware about it. This would help you to calculate your future finances.
Manage Your Account:You should know how to manage your account online once all the documentation and disbursement has been done. You should check the online account for all the details that you were promised or applied for so that there is no surprise at the end. It is easy to look for such details online on your personal account. You can make the necessary changes to them if there is something unusual seen.
Personal Loan Offers:When you have availed for a personal loan, repayment takes time and you may feel the burden or pressure to repay the loan. During this time, applying for instant personal loan with offers can be beneficial as there are many offers that are rolled out from the lender’s end to pre-close the loan. This can be for a part pre-payment if you can afford so that your EMI can be reduced, or the principal amount can be repaid to reduce the cost of the loan. You can either reduce the tenure in such a case or reduce the EMI.
Top Up Loan:You can also look for an extended loan requirement during your tenure. It may so be possible that your requirement for the loan has increased and you need more cash to fulfil your requirements. This would mean you need a top up loan. This should be available in your current setup and if this is possible, then you need not run to search for other options.
Interest vs Principal Ratio:This is more concerned from an internal lender perspective. But you should know about the aspect well. It helps you to pre-close your loan before tenure and make it cheaper for you. Every EMI you are charged is made up of interest and principal amount in a ratio and for the payments due. Most banks and financial institutions keep more ratio for interest and less for principle so that they can gain much from such an arrangement. This is more prevalent where the pre-payment is possible with minimal or no extra charges. If the interest component is more the you would need more time to make the payment as the principle would take more time to be repaid. So, ensure you know this ratio to close the personal loan soon.
Before applying for a personal loan first you must figure out your requirements and the loan amount you will need instead of taking the excess burden.
If you are wondering how you can apply for an Instant Personal Laon then your search ends here. At Wealth County, you can apply for a Personal Loan by following this simple step-by-step guide:
1. Open the “Personal Loan” tab
2. Fill in your personal, financial and employment details
3. Submit the latest and updated information required on the form
4. Click Submit
Applying for a Personal Loan is this easy with Wealth County.
|Bank/NBFC||Intereset rate||Loan amount||Processing fee||Tenure||Target age group||Servicable location||Salary bracket||Commercials offered||Credit score||Employment type||Product type|
|Lending Kart||(18 - 30)%||50,000 - 1 Cr||At 2%||18-65||Pan India||12 lakhs annual turnover and above||Slab wise, 50L - 3CR: 1-2%||660 (560-660 will could be considered on case to case basis) + NTC||Self employed||working capital loans and business loans|
|Axis Finance||(12 - 18)%||Min: 50K max 50L||2% on loan amount + GST||Upto 60 Months||21-60||Pan India||Tier 1: 25K, Tier 2: 20k, Tier 3: 15k||1.5%||650 min , actual >720 (V3), CIBIL>750||Salaried||Personal Loan|
|ICICI||(10.5- 19)%||50,000 - 25 Lacs||Upto 2.25% of loan amount plus GST||12 to 72 months||23-58||30K+||1.1% Per disbursa;||750+||Salaried||PL|
|NIRA||5,000 - 100,000 INR||350-750 depending on the loan amount||3-12 months||21-55||Pan India||12000+||1500||660+||Salaried||Short term loan|
|Muthoot Finance||1Lakh metreo , 50 k Non metro - Max 10 Lakhs||14.5 - 25%||12-60 months||23-60||Pan India||20K - 25K||1.75% Per disbursa;||750 & -1 & NTC||Salaried||Personal Loan|
|Home credit||25,000 - 200,000 INR||0% - 5%||19+||INR 10,000||1.4 % CPD||670+ credit score||Salaried and self employed|
|Bajaj Finserv||13%||upto 4.13% on loan amount + Taxes||3-36 months||23-55||Pan India||25K + Tier 2 35K + tier 1||650+||Salaried and self employed||PL/BL|
|Fulllerton||(11.99 - 36)%||0-6% Loan Amount||upto 60 Months||21-60||20K + Tier 2 25K + tier 1||750+||Salaried||PL|
Calculate your personal loan EMI amount:
Now meet your financial needs with a pro-active decision. Choose your lender & required loan amount for your loan application the better way:
Personal loan amount based on your salary:
Your monthly payout - EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
A personal loan is a loan that does not require collateral or security and is offered with minimal documentation. Availing of an instant personal loan is easy – you can apply online – and you can use the money to meet almost any expense.
You may obtain a loan of up to Rs 15 lakhs via Wealth County online if you fulfil personal loan eligibility criteria. After submitting the application, you will receive an acknowledgement within 15 minutes.
A personal loan can be used to cover any necessity or expense. It can support you in managing the costs of a variety of financial needs, such as:
The application process to obtain approval on your personal loan using Wealth County is simple. Complete the application form with your up-to-date details and keep the latest documents ready which will be required by the bank to avail of the personal loan.
It is advisable to maintain a good credit score because the more timely you have been in repaying past loans, the more likely it is that your loan will be approved along with you getting better interest rates.
To qualify for a personal loan, you must have a minimum income of Rs. 20,000 per month.
The eligibility criteria to avail Personal loan, you need to fulfil following conditions:
To obtain a personal loan, you must submit the following documents:
You can take instant Personal Loan of up to Rs 15 lakh at a very low interest rate of 11.99% p.a. All you need to do is fill up the online application form mentioned on the Wealth County website with your up-to-date details. After submitting the application, you will receive an acknowledgement within 15 minutes.
To calculate your monthly instalments, use the handy Personal Loan EMI Calculator.
No, Wealth County does not have any kind of pre-payment charges.
Without pledging any assets, the personal loan limit is Rs.15 lakhs. The applicant has the option of repaying the loan over a flexible time period ranging from 6 to 60 months.
Wealth County aggregator provides personal loans with a variety of attractive benefits, including:
The only thing you have to do is complete the application form online and avail your personal loan.
If you are searching for an instant personal loan without documentation, your chances of success will be higher if you have a mutually trusting relationship with your bank. After all, if you use the same bank for all of your financial requirements, the bank will have an easier time assessing your creditworthiness, loan eligibility, and repayment ability. For the same reason, it is essential to ensure that your credit card bills are paid on time, that you do not miss any payments due to the bank, and that you keep a good credit score at all times.
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