Apply for a Personal Loan

Offering an Instant personal loan at low-interest rates

We at LOAN On Time handle clients with varying income slabs and priorities. With our loan assistance, they were always satisfied and comfortable with the loan procedures.

Although many of certified accounting or financial experts call personal loan as unsecured but this doesn’t mean that it is not your companion in harsh times. Rather, you should give a thought and Get an instant personal loan sanctioned within a turnaround time of 72 hours/ three working days.

With the amount which you will get after the loan gets approved by any of the recognized financial institutions, you can cater well to activities like planning a wedding of your sister, handling some unavoidable medical expenses, and most importantly – spending vacations at your beloved places like resorts.

Now you might give a thought to its advantages and some requirements like eligibility criteria and the documentation process associated with these vital personal loans. These sub-headings and bullet points will give a clear picture of all your queries.

Advantages highlighting the significance of Low-interest personal loan

At times you are stuck in a situation where you have to enhance your online credit score or there are some utilities which you can’t afford at the moment, personal loan will be helping you – no doubt.

Either you apply for a Low-interest personal loan through Bajaj Finserv or Tata Capital, some amazing advice on clearing the existing debts or consolidating them will undoubtedly reduce your financial burdens. Consequently, you can enhance your credit score now – you are now using a systematic approach for streamlining all your payment hustles.

Advantage # One – Offered at low-interest rates

You must have heard that financial institutions are offering personal loans at low interest – one can avail of this at approximately ten percent interest rate. This because the earning individuals like employers or the authorities like investors and chief accounting officers may afford the installments of a Personal loan at the minimum interest rate accepted by the institutions.

Even such a relaxation has given them a time period in which they can’t only reschedule their on-going or futuristic payment activities, but also plan some strategies to minimize the costs spend.

Advantage # Two – Can be used to fulfill variability of needs

Though needs are uncontrollable yet one can classify them and prioritize in accordance with their current situations. With such an impeccable classification, you are now aware of where and when to prohibit long or short-term expenditures. Since the classification is known, for now, you can either pay your medical bills first or allocate some funds to wedding or education purposes.

In this manner, an Instant personal loan which you may apply online - or perform the offline activities to avail its merits - is now a caterer to all those needs which you have classified in a trustworthy manner.

Advantage # Three – An emergency aid for non-planned expenses

An emergency will be there if you somehow forget to consolidate all those debts assertively attracting higher interest rates. You may call them outstanding credit statements driving your businesses or repaying some hefty amounts to moneylenders.

In such a situation, if your credit score is excellent and you have decided to Apply for a personal loan online, this will surely be saving you from headaches and unpredictable health issues. Henceforth, this loan has acted as an emergency aid with its astonishing ways of handling all those unplanned expenses thereby helping you a lot in decelerating the impacts caused by health-related problems.

Eligibility Criteria and Documentation Process in Personal Loan

Whether you are in a school or running your own businesses, there are no strict restrictions in knowing about personal loans, for instance, Bajaj personal loan and when can one apply for the same. To know the eligibility criteria, you may consider these points and analyze whether you can take a personal loan or not.

  • Age must lie between 21 years to 65 years. However, some financial institutions allow the minimum age as 25.
  • You must either be a self-professional or a salaried person starting with a net worth of 25,000 per month. Note: This is the minimum package to become an eligible person.
  • Experience in the current organization – a minimum of 6 months and a total of 2 years experience in the sector.
  • Cities entertained – Delhi NCR, Mumbai; inclusive of Vashi, Pune, Bangalore, and Thane.
  • Since the bullet points have simplified criteria, we must now dig some deeper towards the documents necessary to avail personal loans of differing budgets.

    persnal loan
    We require Documents for Salaried Employees
  • Any identity proof like Voter Card or Aadhar Card. But the mandatory one is a PAN card.
  • Form Number 16 or salary slips of the last three months.
  • Last Six Months Bank statements either of HDFC, SBI or any other bank. Note: You must have a salaried account otherwise the application will get rejected.
  • Proof-of-residence like utility bills or your passport for authentication.

  • A clear passport-sized photograph and your employer card [In case you don’t have that card, we may avoid this].
  • We need Documents for Businessmen
  • Any identity proof like Voter Card or Aadhar Card. But the mandatory one is a PAN card.
  • Proof-of-residence like utility bills or your passport for authentication.
  • Last Six Months Bank statements either of HDFC, SBI or any other bank. Note: You must have a current account otherwise the Loan apply personal application will get rejected.
  • ITRs (i.e. Income Tax Returns) of the last two years justifying your income well.
  • Proof-of-Business like income balance sheets, GST number.
  • A clear passport-sized photograph [In case you don’t have that card, we may avoid this].
  • How much time financial institutions take to disbursing personal loans?

    Usually, the financial institutions take between seven to ten working days for disbursing the applied Personal loan. But the condition is that you have submitted the required documents. And your profile rating also matters here.

    How should I be repaying a personal loan?

    It is one-hundred percent authentic and secure to repay your Personal loan through EMIs. The other options could be PDC i.e. Post Dated Cheques or ECS i.e. Electronic Clearing System.

    Is it feasible to pre-pay the sanctioned personal loan?

    Yes, you can pre-pay the sanctioned Personal loan. Moreover, the charges related to the pre-payment process are calculated by financial institutions. Later, you may ask for those calculations and finish the pre-payment process smoothly.