Quick and easy approval for Personal Loans in Ghaziabad CreditMantri matches your credit and demographic profile to lender's Personal Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you Personal Loans in Ghaziabad, based on our proprietary matching algorithm.
In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Personal Loan in Ghaziabad Hence the chances of your Personal Loan application getting approved is higher. We even try our best to help people with low CIBIL Score, get a Personal Loan in Ghaziabad.
Do you live in Ghaziabad? Are you looking for a personal loan in Ghaziabad and wondering what your options are? Read on!
What is a personal loan?
A personal loan as the name suggests, is a loan taken out by an individual to meet his/her immediate personal expenses. It is usually an unsecured loan meaning you need not pledge any asset as collateral in order to take out the loan.
The main advantage of a personal loan is that its end use not restricted. You can use the loan amount for any purpose as long as it is legal.
Key features of a Personal Loan in Ghaziabad:
Disadvantages of a personal loan:
Personal loans are one of the costliest loans in the market with relatively high interest rates. The interest on a personal loan could go up to as high as 32% p.a. or even more, depending on your credit situation. It is advisable to first pull out your credit report and check your credit score before applying for a personal loan. If your credit score is low, work on it to increase it to 700 or above. This will help you avoid loan rejection and will help you get the loan on more favourable terms.
All major banks and NBFCs offer personal loans in Ghaziabad. Popular banks and NBFC’s that offer personal loans in Ghaziabad include: Corporation Bank, IndusInd Bank, Bank of India, Central Bank of India, SBI, Axis Bank, Canara Bank, Shriram Finance, Bajaj Finance, Mahindra Finance, Fullerton, Aditya Birla Finance, IDBI Bank, HDFC Bank, ICICI Bank, , Citibank, etc.
Personal loans in Ghaziabad for salaried, self-employed and business people are available.
If you are a CIBIL defaulter, it can get very difficult to get any new credit as lenders are not confident about your repayment behaviour. You could perhaps approach a lender that offers special loans for defaulters. Do keep in mind that if you are offered a loan under such circumstances, it will generally come with a high interest rate and other strict terms and conditions.
The possibility of getting a personal loan with bad credit depends on the severity of your credit situation. If you are a defaulter, then it can get very difficult to access any kind of credit.
If you have a bad credit score due to your repayment track record, make a commitment to improve by paying your dues on time, consistently. It is always advisable to raise your credit score to a healthy number before applying for a personal loan, so that you avoid the risk of being rejected.
You can check your eligibility for a personal loan in Ghaziabad online, on the lender’s website.
For salaried / self-employed professionals:
Following are an overview of the documents generally asked while applying for a personal loan in Ghaziabad:
For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.
The interest rate on your personal loan is based on the following factors:
If you have an excellent track record of making your repayments on time, have a low debt-to-income ratio, draw a good salary and have a clean credit history—you will be offered a personal loan with a low interest rate.
What are the interest rates offered on a personal loan?
Interest rates for a personal loan depends on a variety of factors and vary from lender to lender. It also depends on the borrower’s individual credit history and the loan amount borrowed.
What is the minimum and maximum loan amount for salaried people?
The loan amount generally varies from a few thousands to lakhs of rupees. Final approval for your loan amount is at the sole discretion of your lender.
Do I have to pledge any collateral in order to secure a personal loan?
No collateral or security is required for obtaining a personal loan in Ghaziabad.
How do I repay the loan?
You can repay the loan amount in convenient EMI (Equated Monthly Instalments).
What is an EMI?
EMI stands for Equated Monthly Installment and is the monthly amount you need to pay your lender towards servicing your personal loan—interest included.
There are several ways to apply for a personal loan:
Need help? Alternatively, if you think you need help with your personal loan application and advice on loan eligibility, then CreditMantri can guide you and match you with the loan offer that best suits your unique credit profile.