A presentation on how you can access and get a personal loan along with pointers on the eligibility, interest rates, documents required and other things that you will encounter while applying for it. The presentation also has indicators on all these factors from various banks and NBFCs
2. What is a Personal Loan
A personal loan is an unsecured loan given by
Banks/NBFC’s or any lending institution
Basic KYC documents and income proof
documents are collected
Verification is done before the loan is disbursed
3. How do PL work
Personal loans are offered by multiple institutions
Interest on principal as well as higher interest on
delayed payments is a source of revenue for the
Bank
Banks go aggressive to cater to the personal loan
needs of a customer
4. How do you get a personal loan
Approach a Bank directly
Reach out to a DSA who works with Banks
Go to an online platform like
https://cashkumar.com for multiple options and
the best offer
An online platform like Cashkumar helps as basis
your profile, they suggest the best bank all via a
click of a button.
5. Interest rates & Process
Personal loan interest rates vary from around
12% upward to around 30%
This is based on your profile as to where you
work, your salary, the city you stay in and so on
Based on your eligibility, documents are collected
and processed by a bank
6. Cities Available
Personal loan are available in multiple cities such
as
Mumbai
Bangalore
Delhi
Chennai
Pune and many more
7. Quick tips
Never go for the very first offer for a personal loan
Read all the points of the agreement
Check for pre-closure options
Check on the processing fee
Check on the TAT