Overview
We have all come across situations of financial crunch. Most of us can repay over some time. However, a higher amount makes a situation complex. Asking from friends and family can potentially spoil the relationships. Reaching out to financial institutions for a personal loan is the best proposition.
Some Key Benefits of Personal Loans?
- A personal loan does not require a guarantor or a property. The credit profile of an individual decides the eligibility of personal loans.
- A personal loan has minimal documentation, no branch visits are required.
- The entire process is transparent and online if applied via LoansJagat.
- Individuals can use the loan amount for any financial requirement.
Why Personal Loan?
An instant personal loan is a saviour in modern times. We often come across various situations which require urgent financial assistance. In times like these, one can opt for an instant personal loan. A financial emergency could arise from a medical emergency, school or college admission requirements, urgent travel or buying something necessary.
Apply on LoansJagat.com to compare the personal loan interest rate from top Banks and NBFCs.
How to Compare Personal Loans?
One can compare instant personal loans by checking the criteria like interest rate, tenure and charges. Applicants should check for real-time comparison on LoansJagat.com. Here is a sample comparison chart.
Financial Institution | Interest (% P.A) | Loan Amount (INR Lacs) | Processing Fee (Up to % of Loan Amount) | Part Payment (Up To) | Pre Payment Charges | Lock-In (No. of Months) | Tenure (Up To Months) |
IDFC First Bank | 10.49 - 18 | 40 | 2 | 40% of Amount Annually | 4% on Remaining Principal | 6 | 60 |
HDFC Bank | 10.25-18 | 50 | 1.5 | 25% of Remaining Principal | 4% on Remaining Principal | 12 | 72 |
ICICI Bank | 10.5-16.75 | 40 | 1.5 | NA | 5% | 6 | 60 |
Axis Bank | 10.25-17 | 30 | 1.5 | 25% of Remaining Principal | 4 | 12 | 60 |
Kotak Bank | 10.99-20 | 30 | 2 | NA | 5% | 12 | 60 |
TATA Capital | 12.5-19 | 25 | 2.5 | 25% of Remaining Principal | 4% | 6 | 72 |
IndusInd | 11.49-20 | 20 | 2.5 | NA | 4% | 12 | 60 |
Aditya Birla | 12.99-20 | 50 | 2 | NA | 4% | 12 | 84 |
Bajaj | 13.5-18 | 25 | 2 | NA | 4 | 1 | 60 |
Yes Bank | 10.75-16.99 | 25 | 1.5 | 20% of Remaining Principal | NA | 12 | 72 |
Why choose LoansJagat for Instant Personal Loans?
- Compare Loan Offers : Applicants can compare the loan offers from top Banks and NBFCs.
- Avail Best Interest Rate : The comparison of instant personal loans allows an applicant to choose a loan with the best personal loan interest rate.
- One-Stop Platform : LoansJagat offers end to end loan completion from application to sanction and disbursal of the instant personal loan.
- Quick Application : LoansJagat has a robust technology platform that offers intuitive applications with complete online fulfilment.
- Complete Privacy : LoansJagat is not in the business of selling databases, ensuring your data stays protected.
- Free Guidance : LoansJagat is an authorised partner of top Banks and NBFCs, offering free loan comparison and guidance from a dedicated loan manager.
Types of Personal Loans
Personal Loan for Salaried Employees
Just state your salary in the past 3 months, and the money will be credited to your bank account in 24 hours.
Personal Loan for Women
We believe in empowering women. That’s why women in Noida can borrow loans at the lowest rate of interest with LoansJagat.
Personal Loan for Government Employees
Government employees are the most preferred candidates on the loan application priority list. Apply now and get approval within 24 hours
Personal Loan for Education
Don’t let your low income affect your child’s education. Apply for a personal loan for educational purposes to get instant funds within 24 hours and let him/her study at the dream college.
Personal Loan for Doctors
LoansJagat helps doctors in times of need with personal loans at guaranteed lowest interest rates starting at 10.5%.
Personal Loan for Travel
Why wait for that monthly pay cheque to take a trip to your dream destination? Just apply for a personal loan to travel with us.
Personal Loan for Wedding
Don’t wait for years to have an amazing wedding. Apply for the loan now, and plan your wedding without worrying about expenses.
Personal Loan for Home Renovation
Don’t think twice to renovate, repair, or expand your home this festive season. Apply for a loan to make your home brand new.
Personal Loan for Debt Consolidation
Why are you paying multiple EMIs for multiple loans? Apply for a personal loan for debt consolidation and pay just 1 EMI/month.
Personal Loan for Overdraft Needs
Apply for an overdraft EMI-free loan even if you have 0 balance in your bank account. This will be your emergency fund, and you have to pay just interest on the used loan amount.
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Features & Benefits
Eligibility
Who can apply:
- Minimum monthly income: ₹25,000 in metro cities, ₹20,000 in other cities
- Salaried individual
- A credit score above 650
- Total work experience of atleast 1 year
Age:
- Above 23 years and below 58 years
Required Documents
Identify Proof
- Passport
- Voter ID
- Driving License
- Aadhar Card (Mandatory)
- Pan card (Mandatory)
Any of the following
Address Proof
- Passport
- Utility Bill
- Aadhar Card
- Driving License
Any of the following
Other Documents
- Salary Slips ( Last 3 months)
- Salary A/c Bank statement ( Last 3 months)
Mandatory
Calculator
Calculate your Loan EMI in 3 easy steps. Use the slider to set your loan amount, interest rate and tenure to understand your loan summary
Loan Summary
Loan
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How to Apply
LoansJagat is a platform to offer personal loans quickly and efficiently without having a difficult application process. Our aim is to offer a hassle-free process so that no one has to wait for their dream to become a possibility. Apply for a loan right away!
- Scroll Up. Fill in the basic details about your name, number, and work profile.
- Fill in your personal details. For example, your email, company name, and DOB.
- Mention your credit score, PAN number, and salary-related information.
- Compare the offers from 20+ banks and NBFCs before applying for loans.
- Organise all the documents, like the Aadhaar Card, PAN Card, residential proof, KYC details, and past 3 months' bank account statement. Submit these documents when needed.
- After successful document verification, your loan will be approved and money will be credited to your bank account.
Tips to Avoid Loan Rejection
The following guidelines assist in improving the chances of loan approval to avoid the possibility of rejection of personal loans.
1. CIBIL Score Above 650
You have a high chance of loan approval if your CIBIL score is more than 650. So, try to increase your credit score to match this number.
2. Lower Debt-To-Income Ratio
If you majorly depend on your credit card, even after spending your monthly income, then the chances of loan approval are low.
3. Clear Existing Debts
Try to stay clear of all the outstanding debt. If you repay your loans timely, then banks will prefer to lend more loans to you.
4. Provide Verified Information
Don’t lie about your information over the tele-verification process. If found not true with supporting documents, the chances of rejection increase.
5. Stable Employment
Try to have a stable job for at least 1 year before applying for a loan. This will help you have more chances of loan application approval.
6. Credit Report of Last 6 Months
When you are planning to apply for a loan, make sure that your credit history of the last 6 months is up to the mark.
7. Timely EMI Repayments
If you pay your loan EMI on the due date/month. Then your credit score will boost instantly. This will guarantee instant loan approval.
8. Don’t Engage in Paid Fantasy Gaming Apps
Avoid getting addicted to betting on paid fantasy gaming apps like Dream 11, Ludo, Poker, etc. Remember, there is no shortcut to long-term wealth.
9. Clean Salary Bank Account Statement
Do not engage in external transactions on major stockbroking platforms. Try to keep a clean transaction history of your salary bank account.
10. Average Bank Balance
Investing in derivative products like Future and Options (F&O) trading is a very risky scenario if you are planning to avoid loan rejection.
11. Multiple F&O Transactions in the Stock Market
If you can retain 25% of your monthly income as savings in your bank account, then banks will prefer to approve your loan application.
FAQ’s