CreditMantri Finserve Private Limited
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Everyone could do with a little credit in the form of a personal loan at some point or other in life. A personal loan can come to your rescue in difficult times like a financial shortfall. You can fulfil your financial obligations without worry with the help of a personal loan. 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, as long as it’s legitimate.
When taking any loan, interest rate plays a crucial factor in determining the loan terms. It is the major concern for the borrower as even a slight reduction in the rate can save a lot of money in repayment. As a personal loan is an unsecured loan , the rate of the interest tends to be higher than the other loans. However, one can get a personal loan at better terms with a good credit profile and income stability.
A personal loan 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 provide any asset as collateral. Unlike many other kinds of loan, there is no restriction on how the borrowed amount is used – the borrower has full freedom to use the money for any purpose they want.
Since a personal loan is a no-collateral loan , lenders - in an attempt to safeguard their money - will offer it at a higher interest rate. Therefore, personal loans are one of the costliest loans in the retail market. Personal loan interest rates are generally on the higher side compared to other consumer loans.
These are the general criteria which you need to satisfy for your loan to be approved. These criteria will change from bank to bank.
Apart from the eligibility criteria there are certain factors that affect your loan application mainly the minimum salary expectation and your loan amount eligibility. They are
Important documents to be submitted while applying for personal loans
You can either apply online or visit any nearby bank branch of your choice for the application. You can also download the home loan application form from the bank’s official website, complete the form and submit it to the bank representative.
You can also check your eligibility for a home loan through CreditMantri and apply for it.
On the other hand, checking your credit score helps to rectify any negative points on your report as a bad credit score is grounds for loan rejection.
Existing customers can apply for a Personal loan online or visit a nearby bank branch for the application. You can also download the home loan application form from the bank’s official website, complete the form and submit it to the bank representative. Due to already existing scenario the chances of approval of the application will be high and dispersion of funds fast.
The process to apply for personal loan when it comes to new customers is same as with existing customers. The only difference is due to lack of previous relationship the loan approval process will take some time – maximum of a week as all the verification process will take place.
You can also check your eligibility for a personal loan through CreditMantri and apply for it.
In case of any queries regarding a bank personal loan – be it application process, eligibility criteria, loan approval or loan dispersal can be obtained through Personal Loan Customer Care toll-free number
To make life easy for customers and know exactly how much they need to pay every month customers can make use of the CreditMantri Personal Loan EMI calculator
The importance of this is that customers will know how much EMI they will have to pay based on their loan requirement. This helps them to plan accordingly. CreditMantri’s Personal Loan EMI Calculator is probably the easiest way to compare various personal loan offers and choose the loan best suited to your requirements. Using the Personal Loan EMI Calculator gives you a simple and quick way to accurately compare the various loans and determine what your EMI will be with the different lenders.
CreditMantri pre-screens your application and suggests the lender who suits your eligibility and is willing to lend to you. This increases the chances of approval rate and helps you get you the right loan and credit card much easier.
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SBI Personal Loan Eligibility
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SVC Bank Personal Loan Eligibility
Tamilnad Mercantile Bank Personal Loan Eligibility
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YES Bank Personal Loan Eligibility
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.