The minimum age limit to get a personal loan is 21 years and the maximum age limit can go up to 65 years; however the age limit may differ from bank to bank. Eligibility criteria varies across lenders depending on the borrower's profile.
A single missed payment can bring your CIBIL score down and hurt your creditworthiness. Financial institutions might reject your loan application as well.
Personal loans feature tenure of 1 year to 5 years or 12 to 60 months. In rare cases, shorter or longer personal loan tenures may be allowed by the borrower on a case to case basis.
A personal loan is a type of unsecured loan and helps you meet your current financial needs. It can serve as your solution for managing your travel costs and wedding expenses as well as the expenses of a medical emergency, home renovation, debt consolidation and others
In addition to the interest payable on the principal amount, the lender charges processing fees, usually 1-2% of the loan principal with the foreclosure charges.
If you have an existing Personal loan, chances are high the lender might reject your new loan application. But, if your credit score & salary is good, the lender might give approval to your new loan
If you receive your pay in cash, you will need to be able to prove your income by supplying two to three recent payslips. The lender may also verify your income by calling your payroll officer.
Emsat Finance offers the convenience of online with the assurance of offline. We have 30+ banks & NBFCs options available for your loan. Our financial institute provides the ease of instant approval for customers emergency needs. The process of personal loan is very quick with disbursal in short span of time. We help our customers to rectify their credit score to make them eligible for personal or any kind of loan.