Personal loan in Delhi provided by financial institutions such as the HDFC Bank, RBL, IIFL, Tata Capital, Kotak Bank, HDB, State Bank of India, and others. Banks and NBFCs offer loan amount as low as Rs. 1 lakh, with maximum borrowing amount up to Rs. 1 crore on an interest rate 10.99% onward. Tenure is up to 5 years, lowest period being a year. You can get the funds within 48 hours of loan approval. The loan does not require collateral, and thus, is an unsecured borrowing, available at all the regions in Delhi and its neighbourhood.
Delhi is a metropolitan city with huge green covers, luxuries, and facilities. Several celebrities are known to own their properties in the city. It has several popular media houses, educational institutions, political landmarks, etc. The expenditures of living in this city are simultaneously higher than that of non-urban areas in respects to travel, housing, healthcare, and other daily needs.
Thus, as a resident of Delhi, you may have to borrow funds to meet monetary requirements arising out of financial emergencies or planned activities such as home renovation, medical treatment, vehicle repair, wedding, purchase of electronic items and gadgets, education, and a lot more. To meet up to these expenses, a personal loan is like a knight in the armour, easing off financial burden when you are in an urgent need of cash.
Below-given are the eligibility criteria to apply for the loan:
Below-provided is a complete list of documents needed to apply for a personal loan:
Interest rate on personal loan Delhi is determined on various factors, such as your relationship with the bank. Loyal customers with good repayment record with a bank can secure a lower rate of interest. Lowest rate of interest is also offered if you have an excellent repayment capacity, good income, etc. Below-given are a few considerations to keep in mind when looking for a suitable rate of interest:
Below-mentioned are advantages of applying for a personal loan online on Loanbaba:
NOTE: Use our free-of-cost personal loan eligibility calculator and personal loan EMI calculator to know the amount you are eligible to borrow and the exact EMI till end of tenure.
Below-mentioned are frequently asked questions about Delhi personal loan:
A good income does help secured the best loan offer. However, your repayment capacity is the most suitable indicator of how much you can borrow. For instance, you have too many financial liabilities and left with very low disposable income. In such a scenario, despite of a high income, your loan amount eligibility may be low. It is advisable to close your existing loans and lower your financial liabilities before taking a new loan.
A stable job is required for the approval of a personal loan Delhi. This is because, the loan is unsecured in nature, and repayments depend on the income you draw, and your repayment capacity. Work experience of 2 years is usually mandatory. Banks and NBFCs expect you to have a work record of at least a year with the current employer.
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