A personal loan can be your savior in the times of financial crunch as it is quite handy and helps to manage both current and unplanned expenses. The introduction of technology in lending sector has speeded up the entire loan processing and you can “Apply For Personal Loan“ easily and get approved in less than 24 hours. The factors like instant approval and fast disbursal have made the personal loans quite popular these days.

However, benefits of this unsecured loan are countless but there are few things that remained untold about it. Wait, don’t worry because we are here to tell you about some factors to acknowledge while availing a Personal Loan which is listed below:

Access loan when it’s urgent: There is no doubt that interest charges on Personal Loan are higher than any other loan product. Hence, it is good to keep in mind that always avail this loan when it’s necessary. The other important thing to remember is that loan money will help you to fund your short term needs but you have to repay it for next few years without any default. Thus, it is important to analyze your repayment capacity before taking a loan.

Know about additional costs: Before you decide a particular lender, it is good to know about the additional costs that you have to pay for processing a loan. These costs may include processing fees, verification charges, GST, penalty for late payment or foreclosure of loan and many more. One needs to make sure that he/she takes into consideration other factors than interest rate only.

Opt a short tenure: Some of the lenders in the market offer Personal Loan at long tenure with lower EMI which might be quite tempting to save some bucks on EMI but one needs to understand that paying for a longer tenure, one may end up paying more on interest rate component.

Good CIBIL score can save you a lot: It should not be surprising to know that a good credit score can help you to grab good deals and offering on Personal loan. Having a score above 700 gives you an edge to negotiate about the lower interest rate as well as asking to waive off the processing charges from the lender.

Research carefully: Nowadays, there is an enormous count of loan providers in the lending sector and most of them offer the same product at different rates of interest. It is every individual’s sole responsibility to research thoroughly about the best offers either you “Apply For Personal Loan Online“ or offline. It is good to know prior about the rate of interest, monthly installments, processing fees etc. before you finalize a particular lender.

Therefore, if you are planning to apply for Personal Loan in no time soon, it is important to consider these above mentioned factors as they will help you to get best offering on Personal Loan and will keep you protected from the financial burden and other future troubles leading you to cross the loan journey successfully.

In past times, loans were only taken in the dire need or for any financial emergency but loans have become the part of life these days. There are multiple banks and NBFCs in the market who provide various kinds of loan with lucrative rates of interest. Many individuals take an advantage of most flexible loan and “Apply For Personal Loan“ for big and small reason such as buying an electrical appliance for home or purchasing a new expensive mobile handset.

However, we get amazed by the benefits of this loan but somehow debt keeps on piling up at the end which could not be good for your financial health. Therefore, one needs to carefully manage their debt and plan how to repay it faster. There are some reasons why it is good to pay off the Personal Loan quickly:

Stress-free Mindset: You might have heard from the financial experts or from your near and dear ones to repay the personal loan as quickly as possible. However, it keeps accumulating the debt but before paying off the loan, one needs to carefully plan their budget and pay off the quantum accordingly. Hence, following a systematic way helps you to improve your credit score and to get relieved of stress.

Good Financial Health: Your credit history is one of the most important factors in deciding the approval for any kind of loan whether it is a Home loan, Business Loan, Machinery Loan, Loan against property or even Used Car loan. It is necessary to pay your fixed EMIs on time which will reap you great benefits such as instant approval, quick processing, lowest interest rates and many more on getting the loan in upcoming times.

You can also improve your credit score by the use of your credit card. Using a credit card in limit and paying the bills on time will help you to increase your CIBIL and you will be able to bag the lowest possible interest rates on needed loans in the future.

New investments: Every individual needs an investment for better survival and as emergency fund. So, when you pay off your loan money quickly, you will be debt-free. It also means that the funds which you were using to pay the EMIs of Personal Loan can now be utilized to invest in other sectors such as SIPs or equity funds. It can help you to accumulate a wealth for you and also set up an emergency fund for any financial urgency in the future.

As we all know, a financial need always crops up when we least expect it and get you in trouble. A Personal Loan from ShubhBank is tailored as a quick solution to your immediate monetary requirements. One must “Apply For Personal Loan Online“ or offline from our branch or website to get sought for multiple reasons, debt consolidation or financing your new business set-up and many more. Our organization doesn’t seek any security against loan and aids you in the times of financial crunch.

In recent times, our basic needs have started seeking faster gratification too such as the needs for funds. Therefore, personal loans give an easy remedy which is always within the reach of an individual and is the remedy to today’s financial needs. You can “Apply For Personal Loan“ for any of your need such as buying a new gadget, wedding, setting up a new business, creating an art studio and many more.

Well, in previous times, getting a personal loan was a daunting task. The time taken to get the approval on loan, submitting the piles of papers and hidden charges deterred loan seekers as they wanted their needs to be fulfilled as soon as possible. Nowadays, the process of applying a loan has been simplified. The digitalization has made the life easier and enhanced the popularity of Personal loans.

There are number of aspects related to the processing of loans such as application process, documentation, approval etc. Here, we have mentioned few steps that one needs to follow to get a Personal Loan.

Eligibility Criteria: There are some of the criteria which one needs to fulfill to get eligible for loan which requires you to be an Indian resident above the age over 21 years and his/her net monthly income to be over INR 25,000. If you fulfill all these criteria, you can move to the further step of application.

Application Procedure: At this step, one has to fill the application form on our website ShubhBank.com or you can visit out branch in tricity. In this form, you have to fill in the details such as name, type of loan, your address, the details of your employment and other required fields.

Documentation: You can say goodbye to humongous paperwork these days. All you need to do is to submit your documents at branch or you can upload all the documents on our website following Aadhar card, PAN card, last six months salary slip as well as bank statement, ITR returns.

Verification: The lending institution will evaluate your application, check the credit score and go through the documents. If you fulfill all the considerations regarding Personal Loan, you chances of getting an approval on loan are very high. Once the loan gets approved, the loan quantum is disbursed to your mandated account.

Disbursal: It takes 2-3 business days for the loan amount to get credited directly to your bank account if you “Apply For Personal Loan Online“. With minimum documentation that is needed to be submitted for loan approval, the loan procedure gets as easy as pie.

Personal loans from ShubhBank are the best financial solutions that will come to your rescue in any emergency. These loans are fast, easy to process and require less documentation. We at ShubhBank, understands your requirements and create tailor made solutions to address them. Therefore, if you need a Personal Loan for any need, do visit our branch or get in touch with us through our website. We will gladly assist you in securing the Personal Loan.

Personal Loan is the most popular financial product offered by financial institutions and most preferred loan solutions by the borrowers. A personal loan has amazing benefits and great feature for which it is considered to be a financial hero. Most of the people who are seeking funds for their professional and personal needs usually “Apply For Personal Loan“ and it is not less than a hero for them.

We have listed some of the basic reasons why personal loan is believed to be a financial hero in the given article:

No collateral: It is an unsecured type of loan which means it does not require providing any personal asset as a security to the lending institution. It is granted on the basis of borrower’s credit history, repayment capability, current loan obligations and most importantly the credit score. However, it does not require any collateral being an unsecured loan but lender may charge you high interest rate on it.

Savior in financial emergency: The personal loan is the instant form of loans in country. You can get an approval within 2 working days after submitting all the required documents and loan money can get disbursed in 24 hours to your bank account. As the funds are granted immediately so you are enable to use the money for any personal emergency or business requirements such as for working capital needs or expanding the business.

Moreover, one can use it to pay any medical bills, utility bills or to fund their studies, wedding as well as for travelling purpose. Hence, it is called out to be savior in emergency situations.

Less documentation: This loan does not require any mortgage so the documents required to process the loans are very less in number. The borrower just has to submit his/her KYC details, professional details and current loan obligations. You don’t have to waste your valuable time in gathering the piles of paper. Thus the loan process requires very less time and gets approved in shortest possible time.

Boost your credit score: Securing a personal loan and repaying it on time can boost your credit score to great extent in a positive manner. Be it a small or huge amount, but timely payments of EMIs strongly impacts your credit report. It will directly help you in future to secure the newer and bigger amount of loans at smart rate of interest.

Use it for multiple purposes: Either you “Apply For Personal Loan Online“ or offline, one does not require disclosing the reason behind securing it. The lending institutions do not ask the borrowers as to why they are taking the personal loan. She/he can apply a personal loan to fulfill the various personal and professional purposes which may include Medical emergency, business requirements, debt consolidation etc.

Hence, if you are in need of funds to fulfill any of your financial emergency, get in touch with ShubhBank to avail a personal loan which is offered with amazing features, great benefits as well as competitive interest rates with hassle free loan procedure.