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Personal Loan in Aurangabad

The city of Aurangabad is a well-known tourist destination in Maharashtra. It is surrounded by many historical monuments and UNESCO World Heritage sites and also houses some of the major automobile companies, banks and financial institutions. 

So if you live here and need to overcome a cash crunch, Finnable has launched a personal loan app so that you can apply for a personal loan in Aurangabad

Applying for a personal loan in Aurangabad through Finnable is easy. You can take an online personal loan of up to Rs. 10 lakhs with very few documents. The personal loan interest rate is also affordable. As for the tenure, you can have a tenure of up to 5 years. 

There are a few things you will need to keep in mind before you apply for a personal loan online including the eligibility, documents, and the process.

Personal Loan Eligibility

Before you apply for a loan, you must know if you are eligible for it or not. Following are the eligibility criteria to get a loan from Finnable:

  • If you are looking for a personal loan, you will need to be an Indian citizen. 
  • Your age, at the time of applying, should be a minimum of 21 years of age and a maximum of 45 years.
  • Applicant should be holding a full-time job in a private or government company.
  • The duration of this job should be more than 3 months at the time of application
  • Apart from this, you will also need to have a minimum of 6 months of work experience.
  • Your net in hand salary should be more than Rs. 20,000/-
  • If you live in a Tier-II city, your monthly income should be more than Rs. 15,000/-
  • You should be getting the salary credited into your bank account and not receive this in cash. 

Required Documents

You need documentary proof to substantiate your eligibility for a personal loan. Documents to be submitted include:

  • PAN card
  • Aadhar card
  • 1 months’ salary slip
  • 3 months’ bank statement. 



Personal Loan in Calicut

How to Apply For Personal Loan in Aurangabad?

As mentioned above, applying for an instant loan can be done through a personal loan app. Hence, the first thing to do is download the app available on  Play Store.

Next, create your profile. The profile should include your personal and professional details. Select the loan you need. It can be an education loan, a shopping loan, a wedding loan, etc. Enter the amount you need and the loan tenure

Lastly, upload the required documents. This will be verified by Finnable’s team. The process is quick. If everything is correct and all the details are filled in, your funds will be credited within a few hours after verification.

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FAQs

To calculate the personal loan EMI, you will need your personal loan amount (P) and tenure (N). You can choose a ballpark personal loan interest rate (R) as the final rate will be decided by Finnable. Now, once all the details are available, use this formula:

EMI= PxRx[(1+R)^N]/ [(1+R)^N-1]

You should also use the personal loan EMI Calculator to use various combinations if you feel that the EMI is too high for you. The calculator can help you arrive at the amount that is most feasible for you to pay.

Benefits include:

  • Quick process
  • Fast disbursal
  • 100% online
  • Minimal documentation

Affordable interest rates

No, you do not need to pledge any security as Finnable provides collateral-free loans in Aurangabad.

When a loan is provided over and above the existing loan amount, it is known as a top-up loan. A top-up loan is different from a new loan as you will not be required to submit any new documents to get the loan amount.

Short-term and long-term loans are defined as tenure-based loans. A loan that has a duration of 24 months or less is known as a short-term loan.
A long-term loan, on the other hand, is a loan that has a tenure of more than 24 months and can extend up to 60 months.