Personal Loan in Bharuch

The city of Bharuch in Gujarat is famously known as the Chemical Capital of India. Though the city is a major port, it also is home to textile mills, cotton plants, dairy products, etc. The growth in the city has also seen an influx of services from financial institutions, like Finnable.

If you live in this city and find yourself facing a financial crisis, applying for a personal loan in Bharuch can help overcome it. Loans like vehicle loans, education loans, travel loans, wedding loan, etc. are categorized as personal loans. 

As a first-time borrower, you should know that when you take a personal loan in Bharuch, you are availing a collateral-free loan and that there is no need to pledge or hypothecate any asset against the loan amount. Personal loans through Finnable are easy to apply for. All you need is the loan app to get an instant personal loan online.

Your personal loan amount can start at Rs. 50,000 and the maximum amount you can avail of is Rs. 10 lakhs, at affordable personal loan interest rates. You also get to choose your loan tenure, which starts at 6 months up to 5 years.

Personal Loan Eligibility

Eligibility for Personal Loans is the requirement that you will need to have before you start your online loan application. Every lender has a criteria set for lending loans. Finnable’s eligibility for personal loans includes:

  • Age: If you are applying for a loan from Finnable, you will need to be between 21-45 years of age.
  • Nationality: You can apply for a personal loan in Bharuch if you are an Indian citizen.
  • Employment: A full-time job should be held by you in a government or private company.
  • Tenure: You should have started this job at least 3 months before applying for an online personal loan
  • Work experience: You should have prior work experience of at least 6 months.
  • Income: The montly income you receive from your job, should be more than Rs. 20,000/-. This is applicable for Tier-I applicants. For Tier-II applicants, the monthly income should be Rs. 15,000/-. 
  • Receipt: Your salary should be credited into your bank account. You cannot show cash income or income that has been received by cheque.

Required Documents

Once you meet the eligibility criteria, you will need to collect certain documents to get approval for the instant loan. The documents you need include:

  • For proof of identity, your PAN card will be required.
  • As proof of citizenship, you will be asked to submit your Aadhar card.
  • To show income proof, a salary slip for 1 month is a must
  • Bank statements for 3 months will also be needed to show income deposit and continuity of employment.

How to get Personal Loan in Bharuch?

The biggest advantage of taking a personal loan through Finnable is that it can be done via the personal loan app. The process is simple and quick. To apply:

  • Download the loan app from Play Store or App Store.
  • Create your profile. Add your personal and professional details.
  • Select the type of loan you need, the amount, and the tenure.
  • Upload the documents. 

After the verification is complete, the funds will be directly credited to your bank account.

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FAQs

Since your EMI will be auto-debited from your account, as you have filled an e-mandate authorising Finnable to deduct your personal loan EMI, the chances of missing an EMI are minimal. However, if you do miss out on paying an EMI, you will have to manually pay through the loan app.

  • The entire process of applying for a loan is done through the loan app. 
  • It's 100% safe and secure.
  • The documentation is minimal. 
  • The approval of the loan is instant.

You can reduce the personal loan EMI by:

  • Choosing a loan with longer repayment tenure
  • Prepayment of the loan
  • A flexible repayment plan
  • Pay a higher amount at the beginning of the repayment duration.

You can calculate your EMI with a personal loan EMI calculator. You will need to choose your loan amount, the duration, and the rate of interest applicable on the loan.

You can get an instant loan with a low CIBIL score through Finnable. If you are a first-time applicant, it is not mandatory for you to submit your CIBIL score.

A CIBIL report is a detailed report about your credit history and your financial history. This report gives the lender an idea about your creditworthiness and if you will be able to repay your loan on time. A CIBIL report with a high score helps in the quick approval of your loan.

Personal loan foreclosure means that you are repaying your loan in full, in a single payment, before the completion of your loan duration.