Features and Benefits of Personal Loan in Navi Mumbai
The financial institutions at Navi Mumbai allow applicants to get personal loans with exciting features and benefits. Here are some of the benefits.
Instant Disbursal
Emergency situations require instant usage of money. Thus, applicants get instant disbursal of money once the loan is applied for. Generally, the process requires 3 to 4 days to complete processing, verification and providing the money. Certain providers promise to complete the procedure and disbursal within minutes.
Convenient Application
Personal loans in Navi Mumbai are available through convenient procedures. Now, people can avail themselves of the benefits of loans from any place and anywhere. Simply a smartphone and internet connectivity, along with documents, are the prerequisites to avail of the loan.
Minimal Documentation
Removing the requirement to put in efforts to gather and organize the long list of essentially required documents, financial institutions have accepted the minimal documentation approach. Even certain institutes offer personal loans with a 100% paperless process.
Flexible Loan Amounts and EMIs
One of the most liked features of personal loans is the flexibility to get any amount of money needed. The same stands for the time duration required to pay back the loan and the EMIs by the borrower. The applicants can mutually decide on the specifications depending on their income, interest rates and other factors.
No Collateral
Personal loans are generally unsecured loans. Thus, the borrowers can remain stress-free while paying back the loans. None of their personal assets are at stake. Further, there is no requirement to involve people as guarantors.
Easy Eligibility Criteria
The requirement for funds can arise for anybody, regardless of their age. Hence, a wide range of ages are open to avail of the funds. Similarly, other requirements for eligibility criteria are also eased down to help people with money to fulfil their urgent requirements.
Wide Usage
One of the key aspects responsible for preferring the personal loan in Navi Mumbai is flexibility in usage. The loans can be used for any purpose, including but not limited to medical expenses, vacation, education, marriage, paying off debt and others.
Personal Loan Variants
The financial institutions may also offer the applicants the choice between personal loan variants, term loans, or flexi loans.
Documents Required for Personal Loan in Navi Mumbai
The documents required to apply for a personal loan must be authorised and should include the following:
- Proof of address: Lease/rent agreement, ration card, passport, driving license, bank statement or utility bill of not more than 3 months old
- Proof of identity: Voter ID card, aadhaar card, driving license, passport, PAN card
- Income proof (salaried): Salary slips for the last three/six months for salaried individuals and income tax returns or Form 16
- Continuity or employment proof: Relieving letter or offer letter
- Bank statement (self-employed): Income Tax returns or a profit or loss balance sheet duly attested by CA
Interest Rates on Personal Loans in Navi Mumbai
There are a wide number of personal loan providers in Navi Mumbai. Following are the interest rate of the leading personal loan providers. Read more…