Best Personal Loan Apps in India

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Best Personal Loan Apps in India
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About Personal Loan

• A personal loan can be taken for any personal
  need say medical emergency, wedding expenses,
  vacation, home renovation, studies, buying a car,
  etc.
• Being an unsecured loan, the rate of interest on
  personal loans is naturally on the higher side.
• However, if you have an excellent credit score
  and meet other eligibility criteria set by the
  bank, there are chances that you could get a
  reasonable rate on loan.
• There are many app-based loans providers. Each of
  them has different criteria for granting the
  loan.
• The interest rates, tenure and terms and
  conditions may differ but the documentation
  required is the same. 

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Why should you take a Personal Loan?

• Easy to Avail 
• Finance for home remodeling
• Easy travelling
• Quick disbursal
• No need for collateral
• Fixed Rate of Interest 
• Choose the loan tenure
• Tax benefit 

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Eligibility Criteria

1. Age Criteria  Availing a personal loan, a
   salaried individual must between the ages of 21
   to 60 years while a self-employed person has to
   be within 25 to 65 years of age.
2. Income A personal loan applicant must be earning
   the minimal wage criteria defined by the lender
   and also should be able to repay the loan on
   monthly.
3. Tenure The tenure of repayments ranges from 6
   months to 5 years.
4. Credit Rating The credit history of the loan
   applicant is another major factor that lenders
   would like to look into while approving personal
   loans. The preferred credit score is 750.

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Best Personal Loan Apps
The list of ten most popular and easy to access
personal loan apps

• Afinoz Instant Loan App
• StashFin
• ZestMoney
• Smartcoin Loans
• Indiabulls Dhani
• ePaylater
• MoneyTap
• KreditBee
• LazyPay
• mPokket
• Flex Salary

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Documents Required

• Aadhaar card, 
• A photograph, 
• Bank account details and statements,
• Salary slips/ITR 
• You need to fill in a Know Your Customer (KYC)
  form

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In short

• You can opt for any of the above-mentioned apps
  to get funds immediately in financial crisis and
  pay easily in EMIs.
• The loan amount is decided on merit of your
  salary and your credit history after looking at
  the risk factors involved.
• Getting a loan is easy, it is recommended for the
  borrower to go through the TC carefully so that
  there is no scope for misunderstandings and
  mistakes which may cause hardships later. 

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Thank You !!!