What Are Personal Loans?
Personal loans are short term loans that help to meet your emergency financial requirements. Students often meet their educational expenses by taking personal loans. These days the process of taking loans has become easy and hassle-free. You can get it instantly without having to wait for days.
If you are looking for a personal loan in Gurgaon, Fullerton India is your one-stop destination. Both salaried and self-employed individuals can take loans from them. Since personal loans are unsecured, there is a chance that the borrower might not repay them. So, you need to fulfil certain conditions before applying for one. Let us take a look at them.
Eligibility Criteria For Personal Loans
- Income– It is the most crucial factor. You must have a regular and stable income source. It will show your repayment capacity.
- Credit score– You must have a commendable credit score to apply for a personal loan.
- Age– You must be at least 21 years and less than 60 years to get considered for a personal loan.
- Existing loans– Having no existing loans will increase your chances of getting the loan. However, if you have the capacity to take a new loan, the lender might consider you.
What Are The Documents You Require To Take Personal Loan?
You cannot expect to get a personal loan by word of mouth. You need to present the following documents.
- The duly filled in application form
- Identity proof.
- Proof of residential address.
- Age proof.
- Salary slip for the previous three months. ( If you are salaried).
- Form 16 or income tax returns.
- Your bank statement for the last six months
- If you are self-employed, you need to present proof of your income.
Procedure To Apply For A Personal Loan At Fullerton India
Applying for a personal loan in Gurgaon is now easier than ever with Fullerton India. You do not have to go anywhere. You can now apply with a few clicks from the comfort of your home.
- Visit the Fullerton India website.
- Navigate to the personal loans section.
- Click on the Apply Now tab at the top of the page.
- Enter your mobile number.
- Select whether you are salaried or self-employed.
- They will send an OTP to verify your number.
- Now you have to enter the loan amount and the preferred mode of repayment.
- They will ask you to enter your personal and employment details.
You may also contact their customer care service and apply through your nearest branch.
Benefits Of Taking Personal Loan From Fullerton India
You can take a personal loan from many places. But Fullerton India gives you several advantages that you will get nowhere else.
- You can apply online without having to visit their branch.
- You do not have to wait for several days before your loan gets approved. You can get instant approval.
- They offer flexible repayment options.
- You can take a loan of up to Rs 25 lakhs.
- Manage your loan online in an easy and hassle-free way.
- Forget about hidden fees. Their process is 100% transparent.
- You will get the best interest rates in the market.
What more do you want?
What Should You Consider Before Applying For A Personal Loan?
You cannot just take a loan right away from anywhere. You have to keep certain things in mind.
- Do some background research about the institution. It will give you an idea about their credibility.
- Check if you fulfil all the personal loan requirements.
- Have all your documents in place. Make sure you do not miss anything out.
- Read all the terms and conditions carefully before signing on any document.
Emergencies do not come informed. Personal loans are one of the best ways to handle such situations. Now that you know all the tits and bits to apply for a personal loan, you will be able to make an informed decision in the time of need.