Surat, the Textile and Diamond industrial city, is one of the fastest-growing cities globally. With an affordable and flourishing lifestyle, people are witnessing a surge in their living and spending habits. Whether expanding the business or meeting our personal needs, People of Surat may also require funds. Let’s see how Surtis can apply for a personal loan with low-interest rates.
Everything About Personal Loans!
Personal loans are unsecured financing facilities provided by banks and financial institutions to meet the borrower’s needs against consideration in the form of interest. Personal loans are one of the most sought-after lending arrangements by borrowers because of the terms and flexibility. If you are in Surat, the following points will help you with your personal loan queries:
- Affordable Interest Rates: Surat’s personal loan interest rates start at just 10.99% per annum, making it one of the most affordable unsecured loans compared with other unsecured arrangements like credit cards. You may be surprised by the fact that credit card interest may shoot up to as much as 24%-36%. Choose wisely!
- Instant Disbursal: There is no need to worry about the long process as personal loans are processed and disbursed quickly.
- Easy Eligibility: In Surat, personal loans eligibility criteria are easy to fulfil. Following are the requirements to avail of a personal loan in Surat:
- Age: The applicant should be aged between 22-58 years
- Income: The income of the applicant should be at least Rs. 15,000 per month.
- Experience: The applicant should have work experience of at least 1 year.
- CIBIL: As banks provide personal loans without any security, CIBIL score becomes an important parameter to assess the borrower’s creditworthiness. A higher CIBIL score increases the chances of getting the loan sanctioned at favourable terms. A CIBIL above 750 will most likely get your personal loan sanctioned.
- No Security: Good news, Surtis! As personal loans are unsecured, the applicant is not required to furnish any collateral. Thus, anyone can apply for a personal loan to fulfil the eligibility criteria.
- Unrestricted End Use: This is the flex of personal loans with unrestricted end-use. Therefore, you can use the funds received for any purpose like education, marriage, business, meeting medical emergencies, travel etc.
After understanding the above requirements, it becomes certain that a personal loan carries a lot of benefits. With digitisation, Surtis can apply for a personal loan online as well. Following are the essential documents that you will need to furnish while applying for a personal loan:
- Identity proof (Aadhaar Card/ Voter ID Card/ PAN Card etc.)
- Residence proof
- Bank Statements for last six months
- Employment Certificate (if salaried)
- Income proof
Personal Loan EMI Calculator
If you are willing to apply for a personal loan, you can use the personal loan EMI calculator to calculate the exact amount of EMI you will need to pay. Just enter the loan amount, personal loan interest rate, and tenure and get the estimates handy.
Bottom Line
Surat is famous for its easy and flourishing lifestyle. With the city witnessing growth at such a fast pace, your needs should not be unaddressed. Personal loans will ensure that all your financial requirements are fulfilled while enjoying your lifestyle. Personal loans have always been an excellent and preferred choice among borrowers with the most affordable rates. Apply now and avail of the benefits.
