![]() ![]() For instance, pre-payment is usually allowed after 12 months, and a pre-payment fee may be levied on the repaid amount. ![]() However, specific terms and conditions are typically associated with such pre-payments. These documents include identification proof, address proof, a copy of the PAN card, salary slips, recent bank statements, photographs, ECS mandates, and post-dated cheques.Ĭertain NBFCs offer customers the flexibility to fully repay the loan amount or make partial pre-payments towards the principal. However, it is crucial to ensure that the Equated Monthly Installment (EMI) amount is manageable and can be comfortably repaid each month.ĭocuments required to apply for a Personal loanįinancial institutions typically require certain documents before approving and disbursing a loan. Whether one needs a short-term or long-term loan, they have the flexibility to select a suitable repayment duration. The repayment period for a Personal Loan typically ranges from 3 months to 6 years, allowing borrowers to choose a tenure that aligns with their requirements. Ideally, a CIBIL score above 750 is considered favorable. To improve the likelihood of obtaining a loan at a lower interest rate, it is advisable to maintain a strong credit history. Typically, loan rates begin at approximately 10.25%. The interest rates offered to customers are subject to variation based on their individual profiles. Here are some notable features of the convenient personal loans available through IndiaLends. IndiaLends, the largest online personal loan provider in the country, has assisted over 150,000 customers and collaborates with more than 70+ RBI-Approved partners to offer personal loans tailored to different customer profiles. Who issues Credit Ratings or Credit Scores |Ĭan your employment get affected by your credit score |Ī personal loan is a credit facility that does not require collateral and is offered by banks and NBFCs to employed individuals. Payment History - How it Affects Your Credit Score | How Can Customers Check their Credit History | How to Remove Your Name from CIBIL’s Defaulter List | Loan Settlement Can Ruin Your Credit Score |ĭoes a name change affect your Credit Score? |Īpplying for a Home Loan? Improve your Credit Score | Reasons for Loan Rejection Other Than Credit Score | Major Factors That Affect Your Credit Score | Reason to check Credit Report regularly |Ĭan a Credit Card Improve Your Credit Score? | Minimum payment affect your Credit Score | Practices that leads to Bad Credit Score |Ĭorrelation between credit rating and debts | ![]()
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