Even though Kolkata is the City of Joy, the state of your personal finance may not be as prosperous in the city as you want. A quick and straightforward way of rectifying that is to avail a personal loan in Kolkata. Many reputed NBFCs offer such loans to people living in the metro city.
However, the process of availing such loans can extend from a few weeks to even months. In case of an emergency, you can apply for instant loans offered by some of the best lenders, if you have a good CIBIL rating. However, you cannot hope to avail an instant personal loan with bad credit in India. Here is a detailed look at some of the benefits of instant personal loan.
Advantages of Instant Personal Loan in Kolkata
- A quick source of funds in emergencies
Suppose you need a substantial sum of money to deal with the medical emergencies in your family. You do not have the time to wait around for approval of your loan application. At such a time, availing an instant personal loan in Kolkata gives you access to the required funds within 24-48 hours after the application.
- Few documents required
If you meet the personal loan eligibility criteria, NBFCs like Bajaj Finserv offer the loan against basic documentation. In most cases, you have to submit your salary slips, KYC, bank statement records and employee identification proof to avail such loans. Therefore, availing a personal loan is generally hassle-free.
- Almost instant approval
If you are a salaried employee who maintains a credit score over 750, there is a high chance that your application for a personal loan in Kolkata will be approved instantly. You also need to meet the other eligibility criteria for the loan, such as age, monthly income, fixed obligation to income ratio, etc.
- Simpler research and comparison
You need to apply online to avail instant personal loans. The online application procedure helps you compare the various aspects, such as the personal loan interest rate, tenor and other features from different lenders operating in Kolkata. Comparison is the best way to select a loan that is suitable for you.
- A convenient way to avail a loan
Internet is the new mode of transaction, whether it is shopping, buying food, or booking movie tickets. Therefore, availing a loan online makes sense. It is a faster and more convenient procedure. You can apply via your personal computer from your home or office and avail the loan without visiting the lender’s branch physically.
Features of a Personal Loan
Understanding every aspect of a personal loan is essential. Here is a look at some of the common features of personal loans in Kolkata.
- Limited interest rates- Personal loans are a better choice for emergency funds than credit cards. Such cards charge substantially higher interest on the money you borrow. Personal loan interest rates, on the other hand, are easier to afford. Use the EMI calculator available online to determine whether you can pay off the loan.
- Flexible tenor- Your financial liabilities may not allow you to repay your personal loan in two years. Personal loans allow you the opportunity to choose the tenor that suits you. If income is low, you should opt for a longer tenor and vice versa.
- Substantial principal- You can easily avail personal loans up to Rs. 20-25 Lakh, if you are eligible. The greater sum of money can help deal with any sort of financial emergency.
Bajaj Finserv provides pre-approved offers, which further simplifies the loan availing process. These offers are available across secured loans, such as home loans, as well as unsecured loans, like personal and business loans. Check your pre-approved offers by providing your name and phone number.
Instant loans have made prevention of financial emergencies possible. Now you can avail funds within a day or two of applying for a personal loan.
