Personal Loan in Indore

Are you looking to renovate your house, spruce it up or need some cash for a medical emergency? You may need a quick infusion of cash to opt for some treatment, be it physiotherapy or a root canal treatment. You may need some urgent cash for taking up some repair work at home, say some urgent plumbing work. No matter what your need is, there is always a personal loan you can opt for to meet your expenses.

You can avail a personal loan from anywhere in India. You could opt for a personal loan in Indore, Madhya Pradesh, if you reside there. Indore is a big and populous city, and is a centre of commerce. It is considered the commercial hub of Madhya Pradesh and also attracts a lot of investment and industries. Living in an aspirational city that has a key role to play in not just the state’s economy but the nation’s as well means its residents too seek to be aspirational. This means that personal loans may find many takers.

Personal Loans in Indore

(Source: paisabazaar.com*)

What are personal loans and why are they attractive?

Personal loans are unsecured and easy to obtain. Typically personal loans, as the phrase suggests, are availed to meet personal requirements. These requirements could be a wedding in the family,  buying a car, opting for a higher education course or a medical treatment, as suggested earlier. They are attractive options because of the ease of obtaining them. Digital lending platforms offer these loans online, on their portals or through apps, and all you need to do is input certain basic details such as your age and income, among others. You may have to upload supporting documents, and if you meet the criteria, personal loans are approved in no time. They are convenient and hassle-free.

According to a recent RBI report (*), the personal loan category witnessed a 17 per cent year-on-year growth in February 2020. The personal loan segment stood at over Rs. 25 Lakh Crores or 28 per cent of the loan book in February. These loans include home loans as well. In the other personal loan category, which is inclusive of credit that’s unsecured, the growth has been 20 per cent, touching Rs 7 Lakh crore, the report notes. Personal loans are a growing category that attract a lot of customers, simply because of how easy they are to obtain. The proliferation of smart devices and the easy availability of the Internet has ensured that many people, including those in Tier 2 and 3 cities, are comfortable with looking up and applying for personal loans online.

If you plan to opt for a personal loan in Indore, you could look up at any one of the options, available on Finserv MARKETS. You can get a loan of up to Rs 25 Lakhs with repayment tenures in the range of 24 to 60 months. You can manage and track your loan application and repayment process online seamlessly.

Eligibility Criteria for Personal Loans Online

Are you an Indian citizen? Are you a salaried professional or self employed? Do you fall under the age bracket 23 to 58 age? Then you qualify for a personal loan in Indore or anywhere else in India. You may need to upload a few documents to prove your identity, PAN card and bank statement for the last three months so you can apply for one of the personal loans online. If you need to look at the kind of EMI you would be required to pay, you could check out the EMI calculator available online. You could also check out interest rates on personal loans online so you can plan your finances better, and get a fair idea of your EMIs.

You could also opt for the Hybrid Flexi Personal Loan, available on Finserv MARKETS, if you seek greater flexibility over repayment of your loan. Accordingly, you can pay only the interest amount as the EMI during the initial period of the personal loan. You could also withdraw money for an unlimited number of times from your personal loan limit from anywhere anytime. 

Keep your CIBIL score in mind while applying for a personal loan

So, if you are opting for a personal loan in Indore or anywhere else in the country, it is important that you pay attention to your CIBIL score, which is a measure of your credit worthiness. A good CIBIL score of over 700-750 makes it easy for you to avail the personal loan. Paying your monthly instalments on time, and managing your credit cards well by paying off outstanding amounts will help a great deal. 

Summing up

In conclusion, obtaining a personal loan in Indore, available on Finserv MARKETS, means you can avail up to Rs. 25 Lakhs with zero collateral, minimal documentation and disbursal in 24 hours. You can repay the loan over a flexible tenure ranging from 24 to 60 months. So, what are you waiting for? Apply for a loan, and get a quick infusion of cash for all your personal needs. 

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