A Personal Loan is always a convenient option when you are struggling with any financial issue. It will provide you complete assistance and fulfill your monetary needs without exhausting your emergency funds. ShubhBank is one stop solution for every kind of your financial need where you can “Apply For Personal Loan“ to get instant funds to face urgent expenses.

We take care of every loan seeker’s need and offer varieties of Personal Loans to meet your numerous needs. Here, in this blog post, we will look upon the list of reasons for using personal loans:

✓ Electrical appliance: Sometimes your home appliances such as AC or geyser makes you lighten up your pocket as they need an up gradation and few times they totally break out. In case you are unable to fulfill the required demand but it’s basic thing that add convenience to your daily life then you must avail a Personal loan to make a new purchase or to get your appliances serviced.

✓ Wedding: It is true to say that Indians have big fat weddings and may cost you your lifetime savings. To make the most of this auspicious occasion so people choose expensive venues and luxurious themes which require big budget. Therefore, to make your wedding unforgettable and easy on finances, you can take a Personal Loan to make your dream true.

✓ Rental deposit: Few times, you need to change your city due to your new job or transfer and you have to rent a flat or house. So, a rental deposit will help you secure that expense. One can repay the loan money to lender upon termination of their lease.

✓ Travel: The travel loans come under the roof of Personal Loans that can turn your plan of exotic trip into real fun. If you are making plan of travelling to your dream destination with your friends and family but not having enough savings, you can book your fares and hotel with a personal loan.

✓ Medical urgency: Whenever you face any medical emergency the first thing you stress about paying the huge hospital or medical bills. Here the Personal Loans come to your rescue as they are enough to cover medical tests, treatments, surgeries and other hospital bills etc. ShubhBank is always there to help you in such difficult scenario by sanctioning you instant money.

✓ House renovation: When you want to improve your home style or need to add any extra room as your family is expanding these days. A Personal Loan comes in handy if you want to buy furniture or consumer durables or to make small construction expenses. If you have steady income, then you can “Apply For Personal Loan Online“ to plan a set up.

Hence, ShubhBank offers budget friendly EMIs and attractive rates of interest on Personal Loam for the borrowers who are in need of instant funds. We tailor our financial product and services to meet the need of every individual at any stage of life. If you are in need for any of the above mentioned things, you can avail Personal Loan from us.

However, maintaining comfortable lifestyle is a new struggle for salaried individual in this inflation and fulfilling the aspirations without burning a hole in your pocket becomes a great challenge and the way that comes to the rescue under such situation is a Personal Loan which helps you to bridge your financial needs instantly. Personal Loans have are trending for being quick, collateral free and disbursed quickly to fund your personal and business needs.

Nowadays, millennial are seeking personal loans to fulfill their financial needs as it is the convenient way to cover your expenses such as medical bills, new age gadgets, wedding, travel expenses etc. An individual can “Apply For Personal Loan“ with minimal documentation and basic eligibility needs such as good credit score and repayment history. Now, you must be wondering why borrowers choose personal loan so here is a list of those reasons:

» Hassle free process: In past times, getting a loan requires lot of legwork and paperwork where you have to follow a long procedure to access the funds. With the emergence of advanced technology, online lending institutions such as ShubhBank have created a web portal where borrowers can get online Personal Loan within few hours. You just have to complete the loan application online and submit required documents to get the funds after approval.

» Flexible repayment period: A Personal Loan is capable of offering you a sufficient amount to fulfill your needs. Generally, the loan tenure for personal loan ranges from 6 months to 5 years and you can choose flexible repayment structure that suits your pocket. Moreover, availing a Personal Loan and repaying EMIs on schedule can improve your credit score to get bigger credits in future. So, choose the tenure carefully as per your preferences.

» Paperless loan: These loans fall into unsecured loans category where you don’t have to pledge any personal asset as collateral to access the loan money. One no longer has to go through submitting the piles of paper as you can submit basic documents to apply for a loan at ShubhBank. This basic documentation involves PAN card, ID card, latest bank statements as well as ITR slips.

» Competitive interest rates: One of the key reasons why borrowers prefer Personal Loans over any other financial product is the reasonable interest rates. Because of competitive rates of interest, borrowers do not feel burdened by higher loan cost. In recent times, NBFCs such as ShubhBank offers lowest possible interest rates to provide you easy funds. A Personal Loan is the best financial option for salaried individuals to get the money to face any financial urgency.

Hence, these are some of the reasons for which personal Loan has become a preferred financial tool for millennial during a financial crunch. Therefore, don’t wait any longer to avail a loan and “Apply For Personal Loan Online“ at ShubhBank as we always cater a loan according to customer expectations and requirements. For more details, visit ShubhBank or get in touch at our online platform to avail maximum of our benefits and services.

A Personal Loan is a great option for individuals who need monetary help to meet unforeseen expenses. This financial aid can be used for various purposes such as renovating a house, wedding expenses, paying a hospital bills and many more. Nowadays, it is a seamless process to “Apply For Personal Loan“ either from office or home and repay it through monthly installments. Most of the lenders offer flexible loan tenures which has made this loan convenient for the borrowers.

Every lender has their terms and conditions while offering you a personal loan. In this article, we will guide you through some of these terms which you must be aware of before availing a loan:

→ Easy eligibility criteria: These criteria evaluate that a borrower is worth of getting a loan. It has been put in place by lenders to ensure that the borrower can repay the loan on time. A loan seeker needs to be at least of 21 years of age and not more than 58 years at the time of loan maturity. One has to be employed for full time and needs to earn at least 25000 rupees per month. The eligibility criteria are so easy that anyone can meet this up.

→ Nominal documentation: Every lender asks for some documents to comply with RBI guidelines to ascertain the financial suitability of a customer for Personal Loan. A lending institution generally demands KYC documents like PAN card and Aadhar card. One also needs to submit their residence proof as in utility bills or passport and income proof through salary slip. A lender may ask for your latest bank statements or ITR slips.

→ No collateral: A Personal Loan can be availed without pledging any asset as security. It means you don’t need to provide any of your personal or professional assets to acquire loan money because loan terms are based on the income and credit worthiness of the borrower. A lender will ask your monthly income and credit rating to determine your eligibility for a personal loan. Therefore, one doesn’t have to risk their assets while getting such a loan.

→ Flexible repayment structure: The repayment tenure means the fixed time period in which you have to repay the entire loan amount including interest rate. It can range anywhere between six months to five years. One can choose the longer tenure where he/she has to pay a lower EMI every month whereas in shorter tenure, one has to pay large EMI resulting in lower loan cost.

→ Competitive rate of interest: One can also “Apply For Personal Loan Online“ or offline at very attractive interest rates without pledging any collateral. The interest rate depends upon the credit score and loan amount asked by the borrower. You should be aware of the fact that if you have a higher monthly income then you will be offered with lower interest rate.

Hence, after reading the above mentioned factors, you will find the terms and conditions of Personal Loan are quite relaxing. So, before you apply for a loan, make sure to read all the provided information to enjoy your loan journey.

The collateral free loans refer to the term where a borrower doesn’t need to pledge any asset or security against the loan money. The loans are approved on the basis of client’s current income, cash flow and credit rating to ensure the repayment of loan on time. Collateral can be any of your personal or business assets that acquire certain financial value against the borrowed money.

One can “Apply For Loan“ to fulfill the personal and business purposes without pledging any security. Most of the popular collateral-free loans are Personal Loans and Business Loans. The amount of loan sanctioned purely depends upon your credit score. So, now you have better understanding of collateral-free loans, here we have listed some of the benefits availed from security free loans making them an ideal choice for borrowers.

● No security required: As the name indicates, these loans are free from the requirement of any asset from the borrower. Lender will not compel the customer to risk his/her valuable asset for availing a loan. Therefore, by removing this obligation, it allows the borrowers to remain stress free about debt burden and use the amount to tackle their financial crunch without losing any asset.

● Build your credit history: Since collateral loans remove the requirement of any security but it is based on most important aspect which is borrower’s credit worthiness. Every lender approves the collateral-free loans based upon the clean credit history and good credit score of their client.

If you are a first time borrower, then unsecured loans can be great way to start working on your credit score. After availing the loan without pledging any asset, make sure to pay the loan EMIs on time to build up your credit score over the time and get eligible for big ticket loans in future.

● Quick loan approval: In case of secured loans, lenders take long time to approve the loan as they need much time to evaluate the value of the possession submitted as collateral and thereby finalizing the loan quantum. However, collateral free loan eliminates this need and loan mount is approved and disbursed quickly.

As one of the reputed lenders, ShubhBank sanctions the collateral free loan in a few minutes after evaluating your eligibility and funds are reflected in your bank account within 24-48 years.

● Flexible payments: Sometimes unsecured loans are restricted by limited repayment options but most of the lending institutions like ShubhBank offer variety of repayment options to make the loan journey as smooth as possible. We offer collateral free loans at nominal interest rates with flexible repayment structure.

Hence, collateral loans have become ideal choice to the dilemma of the loan seekers who don’t want to risk their assets in the loan process. Moreover, it helps the borrower to build a credit score and helps to “Apply For Loan Online“ or offline in future at competitive interest rates. If you are looking for easy and convenient collateral-free loans, visit the ShubhBank and avail the useful features such as fast online processing and flexible tenors on unsecured loans.

Nowadays loans are savior for several reasons which can bail you out from tough financial situations and provide you financial cushion for happy events in your lifespan. An unsecured loan is that credit solution which doesn’t require any collateral, so a lender sanctions you a loan based upon your creditworthiness. A lending institution will check prescribed eligibility criteria to approve your unsecured loan. Personal loan, business loan, credit card loans are some of the basic examples of unsecured loans.

Loans are classified into secured and unsecured loans which have different features and criteria. An unsecured loan generally depends upon borrower’s credit worthiness whereas in secured loan, one has to pledge some type of asset as collateral reducing the chances of default. Therefore, unsecured loans stand in contrast to secured loans and if you are looking to “Apply For Loan“ it is good to know the features of unsecured loan which are mentioned below:

Higher interest rate: However, unsecured loans are riskier than secured loan for lenders as they are collateral free but require higher credit score for loan approval. In case of default on secured loan, lender has right to repossess the collateral to recover the outstanding dues but in unsecured loans, lender can’t claim any asset. Therefore, unsecured loans are fully qualified on the basis of creditworthiness, so they are always offered on high interest rate.

Role of co-applicant in loan: Every lending institution decides the loan approval based on creditworthiness of borrower in case of unsecured loan and can charge you a higher rate of interest if they find you risky as per their analysis. In some cases, looking after your requirement and eligibility, lender may give you an opportunity to add a co-applicant with a stable income and good credit score.

The role of co-applicant is to take on the legal obligations to pay the debt in the times when primary borrower defaults on payment. One can also share the EMI burden with their co-signer.

Credit report: It is the key factor that decides the approval or rejection of your loan application. One must have a credit score above 750 to get approved for unsecured loan and to grab a competitive interest rate on it.

Well, the eligibility criteria for unsecured loan are highly stringent and may differ from one lender to other. Here, we are listing the widely followed eligibility criteria. Have a look on it:

• A borrower must be salaried person or self-employed individual with regular income above a certain minimum threshold.

• If you have any existing loan then its EMI must be below 50% of your monthly earnings.

• The credit score of borrowers whether they “Apply For Loan Online“ or offline should be above 750 with an excellent credit history.

• One must have a work experience between 2-4 years depending upon the type of employment.

Now you know that secured and unsecured loans are starkly different and have different features and eligibility criteria, so choose wisely between them to get a financial aid in tough times.

A business loan is a financial solution which is designed to fund business operations. Similar to other types of credit, it involves the creation of debt which is paid back along with interest. There are several types of business loans offered in lending sector such an asset based financing, cash flow loans as well as microloans.

ShubhBank is popular for business loan because of its safety, transparency, quick disbursal and 24X7 customer supports. One can “Apply For Business Loan“ to solve the issues that a small and medium business firms face in accessing quick and ample amount of funds for smooth business operations.

However, there are many lending institutions offering business loans but here are some noteworthy reasons why you should choose the ShubhBank for your financial requirements in expanding and operating the business.

Minimal Paperwork: We aim to provide an easy and convenient financial solution with a motive to solve the problems faced by various business companies in acquiring funds for growing their business. One can avail quick business funding with minimal paperwork making the loan procedure very simple.

Safe and secure process: Our institution follows all the mandated RBI guidelines and policies to secure your personal information and loan details, therefore one need not to worry about the credibility from where you are accessing the required funds and your data to be stolen.

Transparency: ShubhBank is one stop solution to give you a financial access at a single click on our website, small and medium scale business persons can borrow from us to avail monetary aid tailored to their needs at a speedy approval and transparent processing charges so that there would be no surprises later.

Fast processing: When you apply for a business loan at ShubhBank, you will get quick approval on your business loan from our institution, first check your eligibility and upload the required documents to get an easy approval on your loan application. The loan amount will be disbursed directly to your bank account within 2-3 business days.

Hassle-free process: We understand the need of an hour that monetary requirements are necessary. You might need cash urgently when the situation arises. You can also “Apply For Business Loan Online“ where the application get approved within 1-2 business days if you are an eligible borrower and funds get directly credited to your bank account.

Multiple types of business loans: ShubhBank’s lending solutions will help you with multiple types of business loans such as term loans, line of credit and machinery loan etc. and you can borrow the specific one according to your needs and apply for a particular loan solution.

ShubhBank is an online as well as offline lending market place which is known as the best model to meet the cash requirements of various business companies to upgrade and expand their production units to reach the newer heights of success. We offer our customers a better loan experience, better guidance about products and services as well as give our borrowers a fast and convenient loan application process.