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Product Detail

  • Are you planning a wedding this year?
  • Do you want to renovate your home before Diwali or New Year’s Eve?
  • Do you urgently need some funds to cover the medical bills?
  • Or are you planning to study abroad?
     

Or do you just need money to resolve some personal expenses?

If you are juggling in any of the situations mentioned above, then ‘Personal Loan’ can help you solve your situations in a better way with easy monthly repayments over a period of time.

 

A personal loan is a sum of money that you require for various purposes. For example, you can pay off home renovation bills, wedding expenses, medical bills, or any other bill through this loan amount. Banks, credit unions, and online lenders offer you a certain period to pay off the loan.

 

Fresh Personal Loan Features:

 

Apply for a loan with LoansJagat and get up to ₹50 lakhs in your bank account. Complete digital process with minimal documentations. Few other features of Personal Loan are defined below:
 

  • Compare & Apply from 20+ banks and NBFCs
  • Lowest interest rates
  • Up to 72 months to pay back the loan
  • Get money in your account within 24 hours
  • Get loans without collateral and physical security


Eligibility

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Who can apply:

  • Salaried Individual
  • A credit score above 700
  • ₹40K/month income in metro cities and ₹30K in other cities
  • Total work experience of at least 1 year
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Age:

  • Above 23 years and below 58 years

Required Documents

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Identify Proof

    Any of the following

    1. Passport
    2. Voter ID
    3. Driving License
    4. Pan card (Mandatory)
    5. Aadhar Card (Mandatory)
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Address Proof

    Any of the following

    1. Piped Gas Bill
    2. Electricity Bill
    3. Aadhar Card
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Other Docs

    Mandatory

    1. Salary Slips ( Last 3 months)
    2. Salary A/c Bank statement (Last 3 months)

Example

For example, if Megha applies for a personal loan of INR 3 Lacs and gets the loan sanctioned at the rate of 11.99% with a tenure range of 5 years, in such a case her total EMI would be INR 6,672. The repayment amount till the end of the 5-year tenure would be INR 4,00,309 (i.e., 6,672 EMI/month for 60 months). 
 

In such a case, the total interest amount will be INR 1,00,309, along with a principal repayment of INR 3,00,000. Megha will also have to pay ₹6,000 as a one-time processing fee (charged at 2%). Secondly, she will also pay ₹500 as stamp duty charges. T&C applied.
 

The repayment period for personal loans ranges between 1 and 7 years. Depending on the applicant’s financial records and credit score, a personal loan’s annual percentage rate (APR) can vary from 10.50% to 17%.

 

Repayment Period

Minimum 1 year to Maximum 7 years

Annual Percentage Rate (APR)

Minimum 10.5% to Maximum 17%

Processing Fees

1% to 2%

Stamp Duty Charges

Rs. 500



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