Capital First is an NBFC (Non-Banking Financial Company) that is in the consumer and corporate businesses. You can avail of a variety of loans under its retail lending portfolio, including a personal loan.
Am I eligible for a personal loan from Capital First?
If you have already availed of a consumer durable loan or a two-wheeler loan from Capital First, then you may be eligible for the loan. You need to be at least 21 years of age to apply.
What is the documentation required?
In order to apply, you will need to furnish the following documents:
1. A completed application form
2. Photo identity
3. Proof of date of birth
5. Security cheques and a cancelled cheque
What is the loan application process?
You can submit the Online Enquiry form on the Capital First website. Alternatively, you can
1. Visit the nearest branch in order to apply. A list of branches is available on the website.
2. Call the toll-free number listed on the website for details on the loan process.
3. Ask a representative to get in touch with you with details about the loan
Other features of the loan
You can avail of insurance options on your loan with competitive premiums
You can choose to foreclose your loan
What are the advantages of a personal loan?
1. Complete flexibility of end-use. There are no restrictions on how you should spend the loan amount. You have the freedom to use the money in any way you want – it could be for a child’s wedding celebration, home renovations, medical emergency or even a vacation. This in contrast to a home loan or auto loan where the loan amount can only be used to buy a property or a vehicle respectively.
2. Lack of collateral. This is an ‘unsecured loan’, meaning you are not required to provide any security to the lender in the form of cash, shares or any other assets. This might make it more attractive to some customers who may not be able to raise the cash required as collateral.
3. Relatively quick. This type of loan does not require as much documentation as a home or auto loan, for instance, as it is not being taken for a specific purpose.
If you do not have any assets like a home, or shares or gold to offer as security, and are in need of money urgently, this is perhaps the most convenient option.