Personal Loan
What is Personal Loan and Why you should Consider It?
A Personal Loan is a form of financial assistance provided by different banks and NBFCs. It can be used for personal needs such as medical emergencies, higher education, marriage expenses, holiday plans, and many more.
There are various types of loans like home loans, car loans, education loans, farm loans, equipment loans, etc. But these loans are restricted by the end use of the loan amount. However, a personal loan doesn’t have this restriction. This feature allows individuals to use loan funds to meet a variety of purposes like wedding expenses, vacation plans, home renovations, higher education, etc. In fact, many individuals seek a personal loan to pay off some of their high expense loans like credit card bills. This flexibility in the end-use and instant accessibility of personal loan makes it the most sought after loan product in the market.
Apply for your personal loan today with Universal Financial Service and secure your financial future with ease!
Features and Benefits of Home Loan
- Flexible Loan Amounts: Borrow the amount you need, ranging from a minimum to a maximum limit, tailored to your specific financial requirements.
- Quick Approval Process: Benefit from a streamlined and efficient approval process, ensuring you get the funds you need when you need them the most.
- Competitive Interest Rates: Enjoy competitive interest rates that make loan repayment manageable, without causing undue financial burden.
- Customizable Repayment Options: Choose from a range of repayment options, including flexible tenure and installment plans, to suit your financial capabilities.
- No Hidden Charges: Rest assured that there are no hidden fees or extra costs beyond the agreed-upon terms, ensuring complete transparency throughout the loan process.
- Online Application: Easily apply for a personal loan from the comfort of your home or office through our user-friendly online application platform.
- Debt Consolidation: Consolidate your existing debts into a single, more manageable loan, simplifying your financial obligations and potentially reducing your overall interest burden.
- Credit Score Improvement: Timely repayment of the personal loan can positively impact your credit score, opening up better financial opportunities in the future.
Requirements
Loan Amount
50,000 to 10 Lacs
Age
Min 21 to 60 Years
Min. Salary required
Net 20,000
Documents Required
- Identification Proof: Valid government-issued photo identification such as a passport, driver’s license, or national identity card.
- Address Proof: Documents verifying the applicant’s current address, such as a recent utility bill, rental agreement, or bank statement.
- Income Proof: Documents confirming the applicant’s income, which may include salary slips, bank statements, or income tax returns for the previous few months.
- Employment Proof: Employment verification letter from the applicant’s employer, detailing their position, tenure, and income, or any other relevant proof of employment stability.
- Bank Statements: Recent bank statements showing the applicant’s financial transactions and account details over the past few months.
- Credit History Report: A credit report detailing the applicant’s credit history and score from a recognized credit bureau.
- Photographs: Recent passport-sized photographs of the applicant for identification and record-keeping purposes.