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HOW PERSONAL LOAN IS FAVOURED OPTION DURING FINANCIAL CRUNCH?

Posted on Thursday December 3rd, 2020

Life is full of uncertainty; therefore, you don’t have idea when a sudden expense will pop up when you are not expecting it. In our lives, we have all been caught off guard by some uncertain expenses at some point. Those times, the only remedy to this crisis is borrowing that could be easily secured at the lowest possible interest rate. Personal Loan is an unsecured type of debt making it more feasible to avail without pledging any asset as collateral against it.

Any individual with the ability to repay it can avail a personal loan. There are numerous lenders in the market who offer personal loan at smart interest rates and borrowing friendly terms. Likewise, ShubhBank’s Personal loan is fueled with flexibility and convenience. Our goal is to provide a seamless experience to customers and budget friendly loans keeping in mind the monthly cash flow cycles. Here in this article, we will spotlight the reasons why one must avail a personal loan with ShubhBank.

⇒ Online accessibility: You can easily avail a personal loan from ShubhBank from the comfort of your personal space. All you are required to do is click on our website ShubhBank.com and fill out the application form. Once you upload your basic information, the site will customize offers that will best suit your needs. You can also carry out this process offline by visiting our branch in tricity.

⇒ Nominal documentation: We ask for minimum documents in order to process your loan application. One does not have to fall prey to manual delivery of papers because you can upload the documents online. The basic documents required may include ID proof, latest bank statements, salary slip or address proof to Apply For Personal Loan Online.

⇒ Flexible repayment: Once you uploaded the documents along with application form, our representative will customize the offers that best fit to your profile. We always keep in mind your monthly income and other expenses while customizing the loan scheme. It helps you meet your financial requirements without the heavy burden of monthly installments.

⇒ Instant Approval: After applying for personal loan, we carry out a basic verification process on your given details. Post the evaluation process, we approved the loan until or unless you fulfill our eligibility criteria and disburse the loan quantum directly to your bank account within few business days.

⇒ No usage restrictions: One can use this loan can be used in case of any emergency financial requirement or other needs. You can also use the loan money to fund medical expenses, weddings, travel expenses or home improvement projects and merely anything with our loan offering.

⇒ Transparency: The process of approval to disbursal by ShubhBank is transparent. We work as per the agreement signed by the borrower. There is no place for any hidden charges or terms and conditions that would arise in later stages in your loan journey.


ShubhBank is the one stop remedy for your financial crunch. We have customer eccentric support team to guide you through whole loan process.


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DETAILED GUIDE TO GET INSTANT PERSONAL LOAN APPROVAL

Posted on Tuesday April 21st, 2020

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