Pune is one of the fastest-growing cities in India owing to its rapid development and ever-growing career prospects. The host of growth opportunities present in Pune has also improved the standard of living in the city. While this means a better lifestyle, it also translates into excessive costs in some cases. Thankfully, you can easily avail of Personal Loan finance in Pune from top lending institutions.
Let us learn more about Personal Loan finance in Pune and why you should make the most of this financial product.
Personal Loan Finance in Pune – The Best Financial Product for Puneites
Pune, often termed the ‘Oxford of the East’, is known for its large manufacturing hub and automobile industry. It also happens to be one of the top IT hubs in the country. Owing to its immense potential, many often flock to this city to grow both personally and professionally.
However, fulfilling different financial needs may not always be easy. Hence, you can use Personal Loan finance in Pune to fulfil your requirements.
A Personal Loan is usually classified as an unsecured loan because it is collateral-free. It can be availed of easily and quickly without any hassle. Simply meet the eligibility criteria and submit the required documents when applying for the loan.
Why Should I Avail of a Personal Loan Finance in Pune?
Here are the top advantages you can get from availing of a loan from a Personal Loan finance company in Pune:
- No Security Required – You are not required to provide any asset as collateral or security to avail of a Personal Loan in Pune. Simply get a loan without collateral to fulfil almost any need without any hassle.
- Flexible Loan Repayment – You can easily repay your loan with affordable EMIs thanks to a flexible repayment period. Some NBFCs even offer Personal Loans with a flexible repayment tenure of up to 60 months.
- Competitive Interest Rates – These days, you can find Personal Loans being offered by some of the top NBFCs in Pune at attractive interest rates. It gets even better if you have a credit score of 750 and above. This can help you find Personal Loan offers at low-interest rates.
- Simple Criteria for Loan Eligibility – The eligibility criteria for a Personal Loan in Pune are quite simple. While it may differ between different lenders, the basic prerequisites remain the same. This could include your age, professional experience, and/or employment. However, do note that the details of each criterion can vary.
- Minimal Documentation – Personal Loan finance companies in Pune require some basic KYC documents to verify your personal details and financial and professional background. This allows them to determine your creditworthiness before approving your loan application.
- Quick Loan Processing – Nowadays, you can avail of a Personal Loan online in just a few simple steps. From applying for the loan to getting the amount disbursed into your bank account, the entire process takes place efficiently.
What are the Criteria for Personal Loan Eligibility in Pune?
The eligibility criteria that you must fulfil before applying for a Personal Loan are as follows:
- Age – You must be at least 24 years old when applying for the loan and not more than 58 years old when the loan matures
- Citizenship – Holding Indian citizenship is mandatory
- Employment – You must have a full-time job
- Work Experience – You must have a job experience of at least 24 months and 6 months of stable employment with your current organization
- Monthly Income – Your monthly net take-home salary must be at least ₹40,000
Note – You can also use an online Personal Loan eligibility calculator to check your loan eligibility.
Which Documents Should be Submitted When Applying for a Personal Loan in Pune?
The list of documents required to be submitted when applying for a Personal Loan includes:
- KYC Documents – Aadhaar or PAN card
- Proof of Address (current) – Utility/electricity bills, rent agreement, or passport
- Income-related Documents – Most recent salary slip
- Financial Details – Bank statement from the last 3 months reflecting salary credit
- Proof of Employment – Mail ID used for official communication or employee ID card
Conclusion
Getting a Personal Loan from a finance company in Pune is not only easy but quick and hassle-free. Simply apply for one to fulfil any need and forget about your financial woes.