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Overview

Located in the southern state of Tamil Nadu, the city of Salem lies on the banks of the Thirumanimuthar river. Tourists who visit have an ample number of places they can sightsee including but not limited to a variety of temples and the mountainous region of Yercaud.

Those who wish to avail a Personal Loan in Salem are able to do so through a relatively easy process, which also offers a range of additional benefits with the loan. 

Features and Benefits of Personal Loans in Salem

Finserv MARKETS is the perfect platform via which people can avail of a small Personal Loan in Salem. There is a range of features and benefits which enable borrowers to fulfill their aspirations.

  1. These unsecured Personal Loans can be availed without any collateral.

  2. You can avail up to Rs. 25 Lakhs through a seamless and transparent process.

  3. An instant Personal Loan in Salem can be availed with instant online approval and can be repaid over a flexible tenure ranging from 1-5 years.

Eligibility Requirements

Those seeking to obtain a Personal Loan in Salem must meet the following requirements.

  1. You must be a salaried Indian citizen, with a work experience of at least 2-3 years.

  2. You must be aged between 21 to 63 years.

  3. An applicant needs to be earning at least Rs. 15,000 monthly to avail a Personal Loan in Salem.

  4. To avail the best Personal Loan interest rates in Salem, your credit score needs to be 600 or more.

Documents Required for a Personal Loan in Salem

Once you have assessed your eligibility for the Personal Loan, it is important to check the documents you are required to submit along with the application.

  • Proof of employment, such as Form 16 or ITR

  • Proof of identity, such as a passport, voter’s ID, PAN card, etc.

  • Proof of income, such as your salary slips for the previous 3 months or bank statements

  • Proof of residence, such as an Aadhaar card or a driving license

Personal Loan Interest Rates in Salem

There are several factors that ensure that you can get the best Personal Loan interest rate in Salem.

  1. Credit scores – A high credit score ensures low interest rates.

  2. Income - Individuals with a steady income are usually offered low interest rates

  3. If you are an individual with a stable history of repaying your debts in a responsible and timely manner, you can avail the best Personal Loan interest rates in Salem.

You can calculate the total interest you are required to pay through the following formula, i.e.,

Total Payable Interest = (P*n*r)/100

Where, ‘r’ = interest rate, ‘P’ = the principal amount, and ‘n’ = tenure in months.

Steps to Apply for a Personal Loan

A Personal Loan in Salem can be applied for by following the 4 simple steps mentioned below

  1. Fill in the online form with your basic and financial details.

  2. Pick the offer from a Personal Loan vendor that is the best fit to your requirements.

  3. Select the loan amount you wish to avail and a repayment tenure that is suitable to you.

  4. Submit the form along with the documents required.

At Finserv MARKETS, you can find several Personal Loan options, which will help you meet the financing requirements.

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