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You can now avail personal loan completely online. Be it a trip to your dream destination, renovating your home with modern furnishings, your dream wedding plan or even a medical emergency, a Personal Loan will always help you fulfil your requirements. When you apply for a Personal Loan online on Finserv MARKETS, we connect you with the best lending partners in India. So, choose from our list of Personal Loan partners basis your need and convenience and make the most of it.
Processing fee 2% + GST
Convenience charges: Rs. 4999
Here are the main factors that affect the disbursal limits of Personal Loans:
Higher income level of the applicant leads to an increase in the disbursal amount.
Disbursal amount can decrease basis the higher EMI payouts.
Higher number of dependents can lead to a decrease in the disbursal amount.
To apply for a Personal Loan, you must fulfill the required eligibility criteria and submit necessary documents.
Following are the criteria that you must fulfill in order to apply for a Personal Loan :
To avail Online Personal Loan on Finserv MARKETS, all you need to do is keep the following details handy -
Your income details get verified using Perfios, a web-based personal finance application, in a safe and secure manner. Also using your net banking details, you will be able to setup loan repayment.
You will be able to complete your KYC process touch-free using our online KYC check. Details will rest secured with us.
Applying for a Personal Loan online on Finserv MARKETS is simple and convenient too:
Check Eligibility: Know your loan eligibility by sharing your income and contact details.
Customize your Loan: Construct your Loan Package and don’t forget to include our unique Finserv Protection Plan to protect your loan liability.
Get Verified & Setup the Repayment: Verify your details & setup automatic repayments with our secured online process.
Money in Account: Loan will be disbursed to your account in less than 24 hours.
Here are the main steps involved in the Personal Loan verification process:
Your online application will be processed, once you submit the same on Finserv MARKETS website/App.
Post the complete processing of your online application, you must schedule a meeting, wherein the executive will verify the application details and collect your necessary documents, required for further processes.
Once the documents have been collected and successfully verified, the Personal Loan application will be approved and your loan will be disbursed in no time.
Personal loan can act as financial aid to diverse requirements. Here are a few -
Wedding is a special event in one's life and the day deserves the best of everything. Weddings can be expensive, but with a personal loan for Wedding, you can take care of all the marriage expenses like arrangements, accommodation, decorations and make it the most memorable day of your life.
Personal loan for Travel will help you meet the financial requirements associated with travelling. You can cover your travel expenses like that of flight tickets, booking hotels and much more. Keeping in mind that most people today travel either for holidaying or business-related activities, most banks and NBFCs offer Travel Loans at attractive interest rates.
With a personal loan for Home Renovation, you can get your home refurbished, purchase new furniture and do much more to decorate your dream home or increase the economic value of your house.
Need an urgent personal loan but worried about repayment the next moment?
We offer you Hybrid Flexi Personal Loan - the new way to fund your dreams. Enjoy principal holiday tenure, free part-payments and withdrawals! Interest rates are applied only on the amount you utilize and not your entire approved limit. Find out more about our Hybrid Flexi Personal Loan and how you can benefit from it, right here
Minimum annualized percentage rate is 13% and maximum annualized percentage rate is 26% with a flexible repayment period of 12 to 60 months. Also full repayment in 30 days or less is not allowed.
Consider a salaried customer avails a Personal Loan of ₹1 Lakh at an interest rate of 14%. The lenders also charge a processing fee, that needs to be paid to get the loan processed and is usually 0-4% of the loan amount. Consider the processing fee to be ₹2250 for a tenure of 60 months. Then, the total interest payable is ₹39,609 and total amount payable is ₹1,41,859. The EMI will be ₹2,326 per month.
You can now avail personal loan completely online. Be it a trip to your dream destination, renovating your home with modern furnishings, your dream wedding plan or even a medical emergency, a Personal Loan will always help you fulfil your requirements. When you apply for a Personal Loan online on Finserv MARKETS, we connect you with the best lending partners in India. So, choose from our list of Personal Loan partners basis your need and convenience and make the most of it.
Processing fee 2% + GST
Convenience charges: Rs. 4999
Minimum annualized percentage rate is 13% and maximum annualized percentage rate is 26% with a flexible repayment period of 12 to 60 months. Also full repayment in 30 days or less is not allowed.
Consider a salaried customer avails a Personal Loan of ₹1 Lakh at an interest rate of 14%. The lenders also charge a processing fee, that needs to be paid to get the loan processed and is usually 0-4% of the loan amount. Consider the processing fee to be ₹2250 for a tenure of 60 months. Then, the total interest payable is ₹39,609 and total amount payable is ₹1,41,859. The EMI will be ₹2,326 per month.
Interest Rate
12.99% p.a onwards
Bajaj Finance Limited
Associated Charges
Processing Fees : Up to 3.99% of the loan amount Foreclosure Charges : 4% of the outstanding loan amount + applicable taxes
Bajaj Finance Limited
Repayment tenure
12-60 months
Bajaj Finance Limited
Eligibility Criteria
Bajaj Finance Limited
Basic Documents Required
Bajaj Finance Limited
Disbursal Time
24 hours
Fullerton India
Interest Rate
11.99% p.a onwards
Fullerton India
Associated Charges
Processing Fees : Between 0% - 6% of the loan amount
Foreclosure Charges : 0-7% of the outstanding loan amount
Fullerton India
Repayment tenure
12-60 months
Fullerton India
Eligibility Criteria
Fullerton India
Basic Documents Required
Fullerton India
Disbursal Time
30 minutes
PaySense
Interest Rate
1.33% - 2.17% per month
PaySense
Associated Charges
Processing Fees: 2% of the loan amount + GST or ₹500 + GST (depends on whichever is higher). Foreclosure charges: 4% of outstanding loan amount + GST (Foreclosure allowed only after 6 EMI Payments).
PaySense
Repayment tenure
3 months – 60 months
PaySense
Eligibility Criteria
PaySense
Basic Documents Required
PaySense
Disbursal Time
48 hours
Not paying your Personal Loan EMIs can invite penalty charges on the outstanding debt. It can also negatively impact your credit score.
With the Personal Loan Balance Transfer facility, you will have to pay a lower rate of interest to the bank/NBFC you have chosen. However, you may have to pay prepayment charges to your current bank/NBFC..
According to the Income Tax Act law, there is no particular deduction on Personal Loans. In case of Home Renovation Loan, you can claim deductions of up to Rs. 2 Lakhs. This deduction will be applicable on the interest component as per Section 24(b) of the Income Tax Act.
Settlement : Settlement means that you are not able to pay the loan. You and your lender come to an agreement that you pay a certain portion of dues and not the complete outstanding amount. Settlement has an adverse effect on your Credit Score. Default: Default means that you were unable to pay the loan in the stipulated time and have not come on an agreement with respect to the outstanding dues. Defaulting can reduce your chances of getting a loan in the future. Closed: This means that you have repaid your loan in the stipulated time period.
Prepayment is the payment that is done before the specified due date. The prepayment charges usually range from 1% to 5% on the outstanding principal loan amount.
Partial prepayment is the payment of certain portion of loan amount before the due date. Foreclosure is the payment that is done before the designated due date.
Though it depends on the policies of the Bank/NBFC, most of them do not provide the said facility. In case it is done, you may have to pay cancellation charges.