With festivals about to knock at our doors, we are all pepped up to celebrate the major festivals of the year with loads of excitement. From buying fancy presents, participating in corporate events, and heading for exotic tours, all bring something for all of us. But amid this festive cheer, most of us get carried away with the holiday expenses. The result our bills add up and we’re left with a hefty outstanding payment. This issue, however, can be easily resolved with proper financial planning. Yes, you can now zap your bills and consolidate them with a personal loan. Alternatively, you can also take this loan to meet multiple expenses. Since the interest rate is much lower than credit cards and the tenure ranges from 1 to 5 years, your monthly installments will be small and manageable. But before taking the plunge, let’s take a closer look at the factors to consider “How to Get a Personal Loan“.

Compare Interest Rates
While the interest rate isn’t the only factor to be considered, it is important to compare it to settle with the most competitive deal. Different lending institutions will offer different interest rates depending on their policies, your credit report, and other miscellaneous factors. Make sure you have a complete understanding of these rates before finally settling with a lender. If you are unsure about the rates and policies, confirm it with the representatives of the concerned lending agencies. Finally, when you have a list of interest rates charged by multiple lenders, compare them, and settle with the lowest.

Understand Your Needs
Very often, people consider taking a holiday loan for something they want but don’t necessarily need. If your expense can be pushed further and doesn’t require immediate attention, it’ll qualify as a want. Do not give in to your ‘wants’ even if it’s the holiday season. Additionally, avoid taking more money than you ‘actually’ need for the expenses. If you are taking the loan to fund your vacation and your overall expenses come to three lakhs, do not take a loan worth five lakhs just because you qualify for it. While this may not seem much in the beginning, the cost will soon weigh you down when the time comes to pay it off.

Evaluate the Extra Costs
An interest rate isn’t just the only cost that comes with your loan. Instead, it comes with a range of other charges including (but not limited to) processing fees, late payment fees, and prepayment fees. Since the costs might differ depending on your lender, check it clearly, before signing up for the loan. Also, avoid applying with a lender if they do not have any provision to pre-close your loan.

Bottom Line
Remember, a little financial planning goes a long way in helping you save on interest and other unnecessary charges. So, by considering all these factors a person can get the “Personal Loan in 5 Minutes“ without any problem in future.

Personal Loans from ShubhBank are available in customized forms and have steadily developed the capability of fulfilling both the short and long term goals of their borrowers. These are basically unsecured loans that come collateral free and are pocket friendly growing at a rate of 20% every year. Nowadays, personal loans are being disbursed across a wide spectrum of financial institutions but the reason for growing popularity of Personal Loans at ShubhBank is that we have evolved into a variety of unique and demand specific financial product. You can either use it to renovate your home, purchase a gadget, organize a wedding or take a dream vacation. The availability of requirement oriented product has made this loan completely revolutionary as online personal loans are more inclusive and accessible. Here, we help you to understand that how Personal Loan from ShubhBank helps you to meet your financial needs and can prove to be a best fit for you.

1) Debt Consolidation: This loan can help you to consolidate all your debts under single umbrella. You can simply apply for Personal Loan from ShubhBank and need not to worry about paying multiple loans with fluctuating interest rates. You can club all your outstanding payments into one monthly installment and it will help you to shoot your financial troubles leaving you stress-free.

2) Wedding Expenses: Marriages in our country generally encompasses a big fat fanfare. A venue, the decor, outfits or the food, turning your wedding into a cherishable moment requires a healthy dose of finances and that’s what for we sponsor our personal loan. Our lending institution not just helps you to cover your all wedding expenses but also prevent you from breaking into your saved or emergency funds. At ShubhBank, you can avail “Online Personal Loan“ to get funds with low monthly installments to deal with wedding expenditures without any hindrance.

3) Big Purchases: Sometimes, need of making large purchases can be sudden affair. A refrigerator or an AC might abruptly break down or your car need to be serviced after accident, so withdrawing cash from saving would dent them largely. Therefore, it would be wise choice to take a small personal loan rather than digging a hole into your pocket and helps you to make a big purchase.

4) Vacation: At the end, you can avail this loan to take your ideal dream vacation. A personal loan crafted at ShubhBank takes care of all your travelling expenses whether it is air tickets, accommodation fares or meal charges. You loan application would be processed within a time span of 2-3 business days giving you the chance to enjoy your awaited dream without taking the burden of expenses.

A personal loan from ShubhBank is increasingly customer-centric, goal-oriented and tailor made financial product which harbor the potential to help individuals fulfill their long-cherished dreams and responsibilities. So if you need to shed your financial worries, you can “Apply For Personal Loan“ with low money cash outflow at ShubhBank.

Among the COVID-19 breakdown, the demand of personal loans has been increased as the cost of living is increasing as well as the ease of availability makes it the best option among all other financial products. It is an unsecured loan and has great potential to meet your financial emergencies and provide you with the funds needed to make significant purchases. There are also some other reasons why people are preferring more Personal Loans nowadays. Let’s have glance at those reasons:

Medical Urgency: There are few costs that protections plans don’t cover related to health related crisis and these can mount quicker than one can imagine. In such cases, many people choose the Personal loan from ShubhBank to meet these costs. With the hiking prices of healthcare facilities, surgeries and major illness cost a lot.

Debt Consolidation: It is one of the most important reasons to secure a personal loan these days. Debt trap are common and everyone at some stage of life get debt trapped. However, personal loans are bit expensive due to high interest rates but they are way cheaper than credit cards which incur interest over 30%. It is also beneficial when you have to pay for more than one or two loans, in that case, you can repay all the pre- existing loans by taking “Personal Loan“.

Improve Credit Score: A low credit rating always panic you as it affects your creditworthiness for future borrowing. Personal Loan is a great financial tool and individuals with poor credit score can take a small amount of this loan and timely repayment of this can boost their credit score but never default on the repayment as it can result in fall of credit score again.

Starting New Business: Getting approved for a business loan to start-up a new venture is a tough task. You have to meet certain criteria and have to submit piles of documents to qualify a business loan. Therefore, going for a personal loan is the best option as there is no restriction on the use of borrowed money.

Marriage Expenses: Our country is known for big fat wedding as people take this event on their financial status. It needs lakhs of money from costumes to catering, nowadays; shortage of money is not a big deal. As things are changing these days and availing a personal loan from ShubhBank is a best solution to that situation.
Purchasing Latest gadgets: Advanced mobile phones, new age home apparatuses and upgraded technology have turned out to be more extravagance than need. All these things make the personal loan a great choice to acquire your dream gadgets.

Today, the number of personal loan borrowers is increasing to greater extent due to certain obligations or may be dreams. But always be careful about borrowing as it is not a fun, you are bound to repay much more along with the interest rate. Always think wisely before borrowing and “Apply For Personal Loan“ at ShubhBank whenever you are in dire need.

Are you facing an issue to fulfill your needs related to individual stuff but do not want to take anything by forfeiting so the best solution for those is Personal Loan.

Personal loan helps you to remove any shortfall coming in the way to meet the household requirements. Hence, we will tell you a comprehensive guide to get “Instant Personal Loan Approval“.

What is Personal Loan
It is an unsecured loan which an individual can take from the financial institutions to meet his requirements. It is provided only after checking the income level, employment history, CIBIL score and repayment history. Unlike the home loan or car loan, it is not a secured loan as you have not forfeited any of your assets for this. In case the person is unable to repay the loan amount, the financial institution cannot have the authority to auction any of his assets or property. In this the interest rate is usually high as compared to other loans.

How you can apply for Personal Loan
There are many financial institutions or banks which are providing “Personal Loan In Chandigarh“. Applying for a loan requires many simple steps, these are as follows: –
1. You are required to submit all the documents related to you such as Identity Proof, Residential Proof.
2. You are required to submit your work-related documents
3. Decide the loan amount which you want to apply
These all steps you can complete either by visiting the bank or financial institution or you can apply it online.

Eligibility Criteria
Most of the time it varies from bank to bank but generally includes age, income, ability to repay and residential proof.
To get instant personal loan approval, you must have a regular source of income. It is also affected by the company’s history and his CIBIL history. This loan tenure is from 1 year to 5 years.

Document Required for personal loan
1. Residential Proof of the person who is applying for the loan.
2. Bank statement on which you can show your repayment capacity.
3. 3 Months’ Salary slips of Current Company.
4. Passport Size photograph.

Why to Choose Personal Loan over other loans
Although the personal loan is not providing any kind of tax benefit to you like other secured loans, still in this you are eligible to get some IT deduction. It will be to the interest amount only not to the principal amount. This can be used for any of your personal need, Bank will not monitor you regarding how you are using it. You can use this borrowed money for marriage purpose, renovating the house, family vacation, child education or purchasing any electronic gadget. Personal loan is very useful when it comes to investing money in Business, need fund for an emergency or medical issue. You can also repay your other loan EMI.

To conclude this, a personal loan is the best way by which a person can fulfill all his desire. Any person who is having good financial history can avail this

As per COVID-19 outbreak, the whole country gone self-quarantined which have given rise to the unemployment, dismantling your monthly budget and also flattened the daily wages. However, credit cards would be helpful in such scenarios but there is time where you need cash to pay and then you have to think about other options. In these times, people think of the loan that is easily available in their personal space with great features. So, the Gold Loan from ShubhBank is the right choice in such tough times. It is the only loan which doesn’t require any income proof so there is easy schedule of EMI through this loan. Let us make you understand that how Gold Loan from ShubhBank services in COVID-19 lockdown to cut the crisis of cash.

HOW GOLD LOAN IS PROCESSED?
To secure a “Gold Loan“ you have to pledge your gold ornaments as collateral in our financial institutions. The loan quantum will be the 75% of the market value of the gold and your EMI will be a low key as it is secured loan which could be easy to afford. When you repay the whole amount, you will get you assets back. A Gold Loan from ShubhBank can be availed by sitting at your desk in your home as we offer digital platform for lending but you have to visit a once to pledge your yellow metal. We will evaluate your pledged metal after verifying all the KYC documents. After evaluation, we will cater the loan according to your requirement, then you have to decide what loan quantum you need and decide the tenure in which you repay the entire loan money. Thus, the EMIs will be planned accordingly. If your loan gets approved, then the loan money would be transferred to your bank account within few minutes to few hours.

SOME OTHER LOAN YOU CAN OPT IN COVID-19 LOCKDOWN
As mentioned above, you can “Apply For Gold Loan“ at ShubhBank in easy and simple way but there are few other financial products which could also be helpful to fund your needs that are discussed below:

Personal Loan: A Personal Loan from ShubhBank is one of the popular short term loans in the tricity. However, the rate of interest on this unsecured loan is high but if you are in need of immediate funds then it has no comparison. You can also avail it online at our website ShubhBank.com.

Loan against Insurance policy: If you are a policyholder, then you can apply for a loan against Insurance from ShubhBank. If you are in short-term crisis, then it can be an excellent alternative to the personal loan. The most advantageous thing is that you have the full tenure of policy to pay back the loan. However, you get this loan easily but if you default on premium or principal or on interest rate, you policy will lapse and insurer has right to recover the loan money from the surrender value of the policy. Therefore, plan your loan and EMIs accordingly.

There are many times that we face a sudden huge expense and without the proper capital, it can be quite troublesome. Do not worry as there are many banks that let you “Apply For Personal Loan Online“. Personal loans are brilliant as you do not have to keep anything as collateral, that is, you are not pledging anything as security. As a result, you would have to have a good credit history to be eligible for applying for such a loan. You can use the money taken out for any reason as you deem worthy. You can use it to go out for a vacation, for your marriage, sudden medical emergency or even for home renovation. Personal loans are very flexible and the best part is nowadays you do not have to wait in long lines to get your loan application processed; just log on to the website of your preferred bank and follow the necessary steps to apply for the loan online. Apply for a personal loan in tricity today without any hassle!

What to do before you apply for the loan?

Before you “Apply For Personal Loan“ there are few things to reconsider. Carefully assess why you need the loan and how you will manage to pay it back. For this, you must be aware of your credit history. A through research should also be done by you so that you can get the best interest rate.

Eligibility criteria to full fill

After you have compared the different banks and picked the ones that you like. It is best to go through the eligibility criteria prescribed by them. The following eligibility criteria are common to most banks. The bank of your choice may have its own policies so it is better that you go through all the literature given in the terms and conditions so that you can make the best choice for yourself. The eligibility criteria for a self-employed person very from a salaried person so be sure to check out what you need.

The following are criteria which must be fully by a salaried person:

● The age of the person should be between 24 years to 60 years.
● The net monthly income of the person must not be less than 20000 rupees.
● The credit score of the person must be above 750.
● The minimum loan amount that the salaried person must take out is 100000 rupees while the maximum limit is 20 lacs.

The following are criteria which must be fulfilled by self-employed person:

● The age of the person should be between 24 years to 55 years.
● The net monthly income of the person must not be less than 25000 rupees.
● The credit score of the person must be above 750.
● The minimum loan amount that the salaried person must take out is 100000 rupees while the maximum limit is 30 lacs

Say goodbye to the long lines that you had to wait in for long hours to get your loans approved. Go through all the necessary information online. Apply for the loan from anywhere and be at ease as you get the best services from your preferred bank from the comforts of your house.