Personal Loan

A personal loan is usually of a smaller amount than a mortgage and used for personal purposes, instead of commercial/business needs. It includes loans for reasons like going on vacation, wedding, buying of new furniture and various other needs that arise for an individual.

• Age: 18 - 60 years
• Salary: At least Rs. 15,000 per month for salaried customers
• Credit Score: Preferably 750 and above as having higher credit scores improve chances of loan approval
• Employment Stability: At least 2 years with minimum 1 year of work experience in the same job for salaried
• Employment Type: Salaried employees working with reputed organizations, MNCs, Private and Public Limited Companies, Govt. organizations, PSUs and large enterprises.
• Identity Proof: Passport/PAN Card/ Voter’s ID/ Aadhaar Card/ Driving License
• Address Proof: Passport/ Aadhaar Card/ Lease/ Property purchase Agreement/ Utility Bills (not more than 3 months old)/ Passport/ Driving License
• Income Proof For Salaried Individuals: Salary Slips/ Bank Account Statement/ Form 16

Personal Loan Types

• Instant Personal Loans are approved instantly with minimal document requirements. Personal loans with instant disbursal are usually offered by banks and NBFCs to their select customers on the basis of their credit profiles.
• Short-term Personal Loans have short repayment period ranging from a few days to 12 months.
• Pre-approved Personal Loans are usually offered by banks and NBFCs to their existing customers on the basis of their credit history, income, employer's profile, etc.
• Consumer Durable Loans can be used to purchase any consumer durable items like smartphone, furniture, microwave, etc. The purchase amount gets divided into EMIs and can be repaid within the tenure decide. products may or may not require a down payment or a processing fee.
• Personal Loan Balance Transfer facility allows borrowers to transfer their outstanding personal loan to a new lender from current lender for lower interest rates or better loan terms. However, transfer your outstanding personal loan only when the savings made through the transfer outweighs the cost of loan transfer.
• Personal Loan Top Up is offered to existing personal loan borrowers who need additional funds to meet their financial requirements. This loan facility is only offered to select existing personal loan borrowers having satisfactory loan repayment history and/or having completed a specified number of EMIs which differs bank to bank.

Why Gitanjali Finance

• Get best offers & deals on from our partners banks & NBFCs.
• Compare personal loan offers and services.
• Apply with the best bank or NBFC.
• Lowest Rate of Interest in offering.
• Hassle free process and easy documentation.
• Free Document Pickup by Bhumi finance Team.
• Free expert guidance & advice from our dedicated team of experts.
• We are not an agent of any bank and you can apply with the bank of your choice.
• No Fees for services provided.
• We are here to help &assist you .We understand that it’s an important decision for you as you are in immediate need of money; and trust us we will ensure quick processing and disbursal of loan.

Point To Be Considered Before Taking A Personal Loan

• Share all the accurate information at time of filling up of application form. Bank will process your loan based the information you provide
• Processing fees are deducted from Loan amount and thus do not pay any fees in cash/cheque to anyone to process your loan sanctioning
• Compare Loan offers & deals but handover document to any one of the bank of your choice