Various banks and NBFCs have made it easier for borrowers to get access to credit financing. Financial institutions now offer low-interest rates, flexible tenures, and streamlined processes for loan applications. Finserv MARKETS is a digital marketplace that provides a wide range of financial products and has partnered with leading financial providers in the lending, investments, insurance, and digital payment space. Now, you can apply for a personal loan online from Fullerton, an NBFC registered with the Reserve Bank of India (RBI), with Finserv MARKETS and fulfil all kinds of financial requirements.
The loan funds can be utilized to consolidate debts, finance your child’s education, cover wedding expenses, or for medical emergencies. By applying for a Fullerton India personal loan at Finserv MARKETS, you will be able to deal with all your monetary necessities with ease. Customers can now visit the Finserv MARKETS website and app to apply for a loan through a completely digitized process.
Uses of a Personal Loan
A personal loan is an unsecured type of a loan that does not require the borrower to provide any collateral as security. Moreover, there are no restrictions on the end usage of a personal loan, which makes it the ideal choice for borrowers. The funds can be used to fulfil all kinds of financial necessities with ease. Below are some of the common uses of the loan.
- Medical & health emergencies
- Debt consolidation
- Financing a trip abroad
- Making big purchases
- Higher education
- Marriage expenses
The interest charged on personal loans may differ for every borrower. The rate of interest on a loan depends on a variety of factors such as the borrower’s credit score, past and current credit history, employment type, monthly income, etc. Personal loans often have fluctuating interest rates that range from 12-24%. For salaried applicants, Fullerton India personal loan interest rate starts at 11.99%. At Finserv MARKETS, the interest rate on Bajaj Finserv personal loan can be as low as 9.85% per annum.
The eligibility criteria for personal loans may vary from one lender to another. Several banks and lending institutions consider the borrower’s credit history, age, income, work experience, etc., when granting a loan. Here is a list of the eligibility criteria one needs to qualify to avail a loan at Finserv MARKETS.
- The applicant needs to be between the ages of 21 to 60 years of age.
- To be eligible for a loan, the applicant must be an Indian citizen
- The applicant must be employed at a private or a public sector company or needs to be a self-employed individual to be eligible
- Salaried applicant’s residing in Mumbai or Delhi should have an income of Rs. 25,000/month
- Salaried applicant’s residing anywhere in India should have an income of Rs. 20,000/month
Personal Loan Documents
To apply for a loan online the borrower has to submit a list of personal loan documents required. They are as follows:
- Proof of identity such as Aadhaar/PAN card, passport, etc.
- Proof of address such as Aadhaar, passport, electricity bill, etc.
- Documents for proof of age
- Bank statement for the last six months
- Salaried applicants need to submit bank statements and salary slip for the last three months
- ITR (Income Tax Return) or Form 16
Procedure to Apply for a Personal Loan at Finserv MARKETS
The application process for Bajaj Finserv Personal Loan is simple and easy. Given below are the steps to apply for the loan.
Step 1: Start by filling in the online loan application form with the required personal and financial details.
Step 2: Now, choose the loan amount you require followed by the loan tenure to proceed.
Step 3: You need to submit all the required loan documents along with the application form for verification.
Step 4: Once your loan is approved, the loan funds will get credited into your bank account.
To ensure smooth EMI repayments, you can make use of a personal loan EMI calculator online at Finserv MARKETS. This will help you get an estimated amount that has to be paid every month. Also, you get access to pre-approved loan offers and value-added services like a free CIBIL score check and a Financial Health Check Report (FCHR) online.
With the Finserv MARKETS app, you can apply for a Fullerton India personal loan, track your application, and manage your account effortlessly.