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Starting Business? Personal Loan to Help!

By Finserv MARKETS - Apr 23,2019
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Starting Business? Personal Loan to Help

A personal loan is an unsecured loan given to individuals who are in need of quick and urgent cash. The reason why people opt for a personal loan is because of its quick application processing and the no collateral or guarantor requirements. During the hour of need, a personal loan can really help someone out. Different lenders have different eligibility criteria for a personal loan but the borrower’s age, income and credit history is checked by everyone.

Advantages of Personal Loan:

  • No Collateral

Being unsecured in nature there in so no need for guarantor or any form of collateral.

  • Quick and Easy

The processing of loan is faster with minimum documents required.

  • Tenure

The tenure to repay is flexible and one can repay anywhere between 1 to 7 years.

  • Not Purpose Specific

In a personal loan, nobody asks you where the money is going or what it is to be used for. It is entirely at the borrower’s discretion.

  • Tax Benefits

If the personal loan is used for home renovation or repair work, one can even ask claim interest deductions. Read more on tax benefit of personal loan only at Finserv MARKETS

Documents needed for a business for a personal loan:

  • Identity proof

  • Address proof

  • Residence proof – property documents, electricity/maintenance bill

  • Office address and ownership proof – property documents, electricity/maintenance bill

  • Business existence proof – agreement, company registration license

  • Proof of Income – accounts, tax audit reports

  • Existing loans (if any) 

  • Professional Degree Certificate

A personal loan could be helpful while starting a business as the assessment and scrutiny is not intense and getting a loan is comparatively easier.  Plus while opting for a business loan for your business, the paper work is more intense plus lenders do a thorough background check on the company. If the company is relatively new and is still in the process of receiving funding, personal loans come in the picture and provide the much needed monetary aid. The options of getting a personal loan are also plenty, if banks reject one can always turn to financial institutes.

Applying for personal loan online with Finserv MARKETS is easy, quick and completely hassle-free. What’s more? Your loan application can be approved within just 3 minutes and the amount can be credited to your account within just 24 hours! So why wait? Apply for a personal loan with us and let us help kick start your business!

“Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!”

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522