Collateral Free
Personal loan is an unsecured loan that requires no submission of security or collateral against the loan. This reduces the time taken for loan approval.
Personal Loan in Rajkot
Rajkot, the industrial city of Gujarat has its commercial roots in various small-scale industries. There are several worth visiting markets in Rajkot reflecting the tradition of Gujarat in its jewellery, embroidery, attires, accessories etc. Many individuals and businesses in Rajkot look upon personal loans for immediate finance. Personal loans not only cover up financial shortage but also helps in maintaining a stable cash flow.
Nowadays, personal loans are commonly requested via smart phones. Never did we imagine applications of personal loan will be so simple and less time consuming. So, if you are in Rajkot and facing a money crunch, download an instant loan app on your phone and request for a personal loan with an affordable interest rate. The security level in instant loan apps is higher as all the personal information submitted remains confidential.
Hero FinCorp is entirely a borrower’s app that helps you to acquire instant cash loan at the convenience of your home. Download the loan app from Google Play store and follow the stepwise procedure to avail the loan in 24 hours.
Personal Loan Interest Rates in Rajkot
As the interest rate may vary from lender to lender, the interest rate on a personal loan in Rajkot 19% to 30% is per annum, followed by a minimal processing fee. Personal loan interest rate in Rajkot may differ as per the financial companies’ norms and regulations. Moreover, the borrower’s credit history plays a significant role to get an affordable interest rate in Rajkot. Over a period of time, you can improve the credit score with systematic planning and management of loan accounts.
Feature and Benefits of Personal Loan in Rajkot
Personal loan acts as a fuel in the commercial scenario that sustains business in times of unexpected financial demand. Here are related features and benefits of acquiring personal loan in Rajkot:
Flexible Repayment
With digital loan apps on the rise, personal loan repayment modules have become automated and where EMIs get deducted automatically. The online loan calculator gives a perception to plan your EMIs and repayment tenure using the online loan app.
Easy Documentation
Personal loan involves paperless documentation if the application is done through an online personal loan app. No physical documents are required unlike the traditional personal loan process.
Customized Loan Amount
Keeping loan amount, tenure and interest rate as the base factors, borrowers can plan EMIs in advance as per the budgetary requirement. When it comes to loans, getting clarity on the EMI amount gives a sense of relief.
How to Apply For Personal Loan in Rajkot
As most of the work is done through online platforms, individuals prefer applying for personal loans online. Here are few simple steps to apply for a Personal Loan in Rajkot:
- 01
If you are new to online loan apps, launch the personal loan app on your smartphone through Google Play Store
- 02
. Register and login by entering your mobile number or email Id for verification (OTP)
- 03
Check your loan eligibility through loan EMI calculator
- 04
Fill in the form with Aadhaar card number linked to your mobile number/PAN card/ Driving License
- 05
Scan your photograph for ID proof and other documents as required by the financial companies
- 06
Fill in other personal details like your (Profession, Company address, and Work experience)
- 07
Upload all the required documents
- 08
Application and other documents will be verified immediately, once verified personal loan will be approved instantly
- 09
After the application is approved, the loan amount will be transferred immediately into your registered bank account.
Documents and Eligibility Criteria in Rajkot
Accurate documents and eligibility criteria of the borrowers plays a major role in fast processing of personal loan. In the absence of any required documents or if the eligibility criteria do not match the required standards, your application for personal loan can be rejected or delayed.
So, to avoid delayed loan disbursement or rejection have a glance at the below mentioned minimal required documents:
- Required documents that may include- Identity Proof (Aadhar card/ Driving License)
- Address Proof - Passport/ Aadhar Card
- Income Proof - Last 6 months bank statement
- You should be a resident of India
- You should be either salaried or self-employed individual
- Your minimum monthly income should meet the criteria fixed by the lender
- You should be between 21-58 years of age
- Your credit history should meet the criteria set by the lender. Credit score may vary as different lenders set different standards.
Note: If You are in the age group of 21 – 58 years and have a minimum monthly income of ₹ 15,000 then you are eligible for a Personal Loan from Hero FinCorp. No physical documentation and meetings required, apply for a Personal loan today.
Hero FinCorp documentation and eligibility criteria is much simpler, to know details click here
Frequently Asked Questions (FAQs)
The eligibility criteria for personal loan in Rajkot:
1) The borrower should be at least 21 years of age and maximum 58 years of age till loan maturity.
2)Borrower should be an Indian.
3)Borrower should have a permanent job/business
1) Address Proof - Aadhar card/Driving License.
2) Income proof- 6 months’ bank statement or ITR returns are the mandatory documents for personal loan approval online.
The lowest interest rate in Rajkot is 19% per annum.
The personal loan in Rajkot will not be a long procedure, due to minimal documentation and online application. Personal Loan in Rajkot is approved within 24 hours based on your good credit score and eligibility criteria. Once the loan is approved, the amount is disbursed into your registered account.
Borrowers with a minimum income of Rs.15,000 or more, in an age group between 21-58 years are eligible for personal loan in Rajkot.