Posted on Wednesday June 5th, 2019

Personal loan are the financial products that cater to various financial needs of different customers and can be repaid off in easy installments without any hassle. They are known to be an ideal lifeline when a financial crunch hits you, a personal loan from ShubhBank help you to deal with the circumstances like a medical emergency, home renovation, starting up a new venture, wedding and a lot more. The interest rate on personal loan is offered on the basis of your credit score and there will be a feature of flexible tenure also. If you are in need of loan, then we will guide you How a Personal Loan from ShubhBank can be a Right Choice For You. Being easy to apply, it can be availed online when you submit the required documents and if you meet the eligibility criteria.

ELIGIBILITY CRITERIA FOR PERSONAL LOAN: The criteria for personal loan differ from one lender to another but the most common criteria’s are listed below:

You should be at least of 18 years in age.
You should be an Indian resident.
You should earn a regular income.
You must have a good credit score.

You can calculate your eligibility with a loan eligibility calculator present on our online portal before making the final decision.

DOCUMENTS REQUIRED FOR PERSONAL LOAN: This might also vary from lender to lender but the list of common documents required by us are:

Proof of identity i.e. passport/ voter ID/ driving license etc.
Residence proof.
Duly filled application form.
Income proof.
Salary slips of the applicant.


• CONSOLIDATE OTHER DEBTS: If you have amassed a large debt from credit card and other loan products, you must Apply For a Personal Loan to consolidate all the debts into a single one. The combined interest rate would be lower as compare to the interest rate on separate loans.

• FLEXIBLE TENURE: If you wish to keep the monthly payments as low as possible and can’t handle a lot of stress, you should opt a personal loan. You will have flexible loan tenure as per your ability.

• BORROW A LARGE AMOUNT: Applying for a personal loan gives you the power of borrowing a large amount altogether to deal with all the financial emergencies rather than asking money from friends and relatives.

• CHOICE OF INTEREST RATES: If you opt for a personal loan, we may offer you a choice between fixed and floating rates of interest. You can choose as per your repayment ability as both of them have their own benefits.

• IMPROVES YOUR CREDIT: If you plan a personal loan properly then you will get the opportunity to choose the desired tenure. This way you can easily manage your payments without any delay, which adds up to your credit report and improves your credit.

• REPAYMENT OPTIONS: We offer a number of repayment options which make it easier for you to repay the loan. It is important to repay the full loan amount before the due date without any penalty.