Quick and easy approval for Personal Loans in Noida 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 Noida, 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 Noida 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 Noida.
Do you live in Noida? Are you looking for a personal loan in Noida and wondering what your options are? Read on!
What is a personal loan?
A personal loan is a short-term loan which could be used for any legitimate purpose. You won’t be required to pledge any form of collateral or security. It can be used to meet immediate personal expenses like funding a wedding or higher studies, or used as capital for business or to consolidate debt.
A personal loan has several advantages including relatively simple documentation, no need for collateral, and no restrictions on how you use the money.
There is a downside to taking a personal loan—it is one of the costliest consumer loans in the market as it comes with high interest rates. This can be attributed to the fact it is an unsecured loan and the lender charges high interest rates because they want to safeguard their money against default. The interest rate on a personal loan could go anywhere up to 32 % or even more depending on your credit history.
Key features of a Personal Loan:
All major banks and NBFCs offer personal loans in Noida. Popular banks and NBFC’s that offer personal loans in Noida include: SBI, IndusInd bank, Union Bank of India, Axis Bank, HDFC Bank, Citibank, Standard Chartered Bank, Punjab National Bank, Fullerton, Shriram Finance, Sundaram Finance, ICICI Bank, Central RBL Bank, Indian Bank, Dena Bank, Bank of India, Canara Bank, Bank of India, IDBI Bank, Bajaj Finance, etc.
Personal loans in Noida for salaried, self-employed, business people and NRIs are available.
If you are a CIBIL defaulter, you must take steps to remove your “defaulter” tag before applying for any kind of credit, as it is next to impossible to get access to fresh credit. Start by making full payments towards all your overdue accounts.
If you need funds urgently, you could perhaps approach a private personal loan provider in Noida that offers special loans for defaulters.
It is not entirely impossible to avail a loan with bad credit. You might be approved, but at high interest rates. If you have bad credit, make a commitment to improve your credit situation, before applying for a personal loan in Noida.
You can check your eligibility for a personal loan in Noida 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 Noida:
For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.
Lenders consider your borrowing history, and your income amongst other factors to evaluate your repayment ability. If you have a good credit score, along with a high income and low debt-to-income ratio, then you would be approved for a loan with the lowest interest rates.
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, 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 Noida.
What are the loan tenure options available to me?
Depending on the lender, you can repay your Personal Loan conveniently over a period ranging from 12 to 60 months.
How long will it take for my Personal Loan amount to be disbursed?
Depending on the lender, the loan amount is generally disbursed in your account within 4-7 working days post receipt, approval and successful verification of the all required documents. Of course, the time taken varies with each lender.
Is part-prepayment of a Personal Loan allowed?
Depending on the lenders polices, part-prepayment might be allowed.
My personal loan application is rejected even though I have a good credit score. Why?
Your loan amount is taken into consideration while sanctioning the loan application. If your loan amount is a small percentage of your annual income, then your loan application will be approved quickly. If your loan amount is a high percentage of your annual income, then lenders might not be confident about your repayment capacity and might reject your loan application or sanction the loan amount at unfavorable interest rates. Or you might have several loan obligations, which lenders think might impact your ability to repay a new loan.
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.