Personal Loan is an unsecured loan, which does not require any collateral to be offered as a security to the lender.
It is very easily available with both public and private banks offering these loans with competitive terms and interest.
Banks take a judgment call on your ability to pay back the loan based on your current employment/business condition and recorded credit history. Yes,
taking a personal loan is the most convenient way to escape from your financial crises but landing into debt is also a big concern.
Before applying for a loan, it is very important to know about all the expenses involved in the process.
Processing Fee:
Completely based on the principal borrowed, the processing fee keeps on varying and can range between 1- 3% of the total loan amount.
Loan Prepayment/Foreclosure charges:
If you pay your loan either partially or fully before the due date, you might have to pay a hefty fee for that too
Whitch documnets are needed:
1) Aadhar card,
2) Pan card,
3) Your mobile number should be linked with Aadhar card.
4) Your physical address and Aadhar card address must be equal.
Disclaimer: This is not official app or government app, this app is only for help user.
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