Personal loan vs EPF advance: What should I choose?

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Personal loan vs EPF advance What should I
choose?
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EPF advance withdrawal rules

• To withdraw funds for land acquisition, you must
  have worked for at least 60 months.
• A minimum service period of 84 months is
  necessary if EPF withdrawal is for marriage or
  education purposes.
• You must be over 54 years old if you want to
  withdraw funds before retirement.

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EPF withdrawal process

• You can initiate a withdrawal process through the
  UAN portal.
• You can also request a withdrawal in offline mode.

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What does a personal loan mean?

• It's an unsecured loan.
• The funds can be utilised for any valid reason.

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Qualifications for a personal loan

• You must fall within the age group of 21 and 58
  years.
• A minimum monthly income of Rs. 15,000 is
  necessary.

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Highlights of a personal loan

• You can apply for the maximum amount of Rs. 5
  lakhs.
• You get flexible repayment terms of up to 60
  months.
• Foreclosure is allowed after the first 12 months
  of the loan term.

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Application process

• You can apply either online or offline.

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Personal loan vs EPF What to choose?

• EPF withdrawal impacts your retirement savings.
• A personal loan allows you to manage your
  finances effectively.

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Personal loans are much better than EPF advances.
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09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel [phone]
Email customer.care_at_herofincorp.com
Website https//www.herofincorp.com/
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