Quick and easy approval for Personal Loans in Jaipur 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 Jaipur, 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 Jaipur 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 Jaipur.
Do you live in Jaipur? Are you looking for a personal loan in Jaipur and wondering what your options are? Read on!
What is a personal loan?
A personal loan can come in handy in times of need - be it for home improvement, to pay for your dream vacation or to buy your significant other that much coveted gadget or to cover any crisis like loss of job or medical expenses.
A personal loan is an unsecured form of loan, where you won’t be required to pledge any form of collateral or security. It gives you the flexibility to spend the loan amount on any legitimate purpose.
Key features of a Personal Loan:
Disadvantages of a personal loan:
Personal loans are one of the costliest loans in the market with relatively high interest rates. The interest rate on a personal loan could go up to as high as 32% p.a. or even more, depending on your individual credit profile and a number of other factors.
All major banks and NBFCs offer personal loans in Jaipur. Popular banks and NBFC’s that offer personal loans in Jaipur include: IndusInd bank, RBL Bank, Indian Bank, Bank of India, J&K Bank, Canara Bank, Axis Bank, SBI, Oriental Bank of Commerce, Citibank, ICICI Bank, Central Bank of India, IDBI Bank, Union Bank of India, Standard Chartered Bank, HDFC Bank, Punjab National Bank, Bajaj Finance, Shriram Finance, Sundaram Finance, etc.
Personal loans in Jaipur for salaried, self-employed and business people are available.
If you are a CIBIL defaulter, it can get very difficult to avail any new credit. Before you apply for any kind of loan, you must take steps to remove your “defaulter” tag by making full payments towards all your overdue accounts. Negotiate with your lender to arrive at an amount and make sure the accounts is reported as “Closed.”
If you are in a hurry for funds, you could perhaps approach a private personal loan provider 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 restrictions.
The possibility of getting a personal loan with bad credit depends on the severity of your credit situation, and the relationship you share with your lender. If you have bad credit, then make a commitment to improve your credit situation, before applying for a personal loan in Jaipur.
It is always advisable to raise your credit score to a healthy number of say 700 or above, so that you can avail a personal loan at reasonably good terms and interest rate.
You can check your eligibility for a personal loan in Jaipur 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 Jaipur:
For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.
Lenders usually offer a low interest rate to those who have a good credit history. How the interest rate is decided depends on quite a few factors including your credit score and history, the loan amount as compared to your income, loan tenure and your lenders policies.
The interest rates vary with each customer and each lender depending on his/her credit score and borrowing history and the lender’s policies. You need to make sure that you have a good credit score, in order to be approved for a personal loan at attractive terms.
Obtain your credit report and check your credit score. If your credit score is low, then take time to improve it before applying for a personal loan.
What is the minimum and maximum loan amount for salaried people?
The loan amount generally varies from a few thousands to lakhs of rupees depending on your eligibility criteria like credit score, borrowing history, income, nature of job and repayment capacity.
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 Jaipur.
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.
What are the loan tenure options available to me?
You can generally repay your loan conveniently over a period ranging from 12 to 60 months.
How long will it take for my Personal Loan amount to be disbursed?
Your loan amount will generally be disbursed in your account within 4-7 working days post receipt, approval and successful verification of the all required documents.
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 through the entire process and match you with the loan offer that best suits your unique credit profile.