It is often that some people might feel dizzy about taking a loan from a bank . This might be because there are lot of risk involved or penalties or charges involved or fear of losing credibility with the credit score in case of delay or non-payment . But this is not so to overthing , banks provided alternative ways to raise credit or to take loans even you are not from a big financial background or if you have no security to pledge to the bank . One such type of loan is Personal loan . It has been categorised as a personal loan , because in basic terms it means that it is being applied by a personal for his own needs whether it can be for his family needs or for buying a new car , or for buying a new house or for financing his child education etc .
Personal loan is also much more broader in concept depending on the need and income of the person . Personal loan can only be availed by an individual by fulfilling some basic formalities of the bank or the financing institution , providing the loan. In this post , you will get to know more about Personal loan and its types and the related facts about Personal loan .
What is Personal Loan ?
Personal loan ko agar simple terms me bola jaye to wo ek personal individual dwara apply kiya jata hai jisme bank us person ka individual credit score check krne ke bad grant krta hai . Personal loan agar ap apply krte hai to isme fomalities bhi bhot kam hoti hai jaise agar ap ek salaried person hai aur ap personal loan ke liye apply krte hai to apke pas apka form 16 hona chahiye jo company jisme ap job krte hai wo deti hai ya apka employer apko issue krta hai , jab apke pas form 16 hota hai to ap personal loan ko sirf bank statement , form 16 aur KYC Documents pe b approve krwa skte ho aur isme jyada time b nhilgta kyoki bank ke pas apki income ki details pahonch jati hai jiski wajah se apki personal loan ki application aur bhi faster process ki jati hai . Dusri bat personal loan par apko jo byaj dena hota hai wo kisi bhi aur loan type se kam hota hai , kyoki ye ek unsecured loan hota hai to is loan me default krne par kuch extra charges bhi charge kr skta hai.
Purposes of taking Personal Loan
Apka personal loan lene ka chahe kuch bhi maksad ho bank usko kuch b deny nhi kr skta lekin kuch aise specific reasons hi hote hai jiske liye bank personal loan issue krta hai . Agar ap sirf in karan se apni personal loan ki application dalte hai to apki application jaldi approve ho jati hai :
- For managing a sudden emergency related to health or well being
- For managing education of children
- For re-improvement of house
- For financing some special occasion
- For buying a new car
- For medical emergency etc
Upar die gaye kuch reasons ho skte hai jis ke liye ap personal loan apply kr skte hai , isme apko kuch khas formalities nhi krni hoti agar ap ka reason upar me se koi hai to simply apko use apne application form me bhar dena hai , taki bank ko apke personal loan lene ka specific reason mil jaye. Reason dena isliye jruri hai taki bank apko kam se kam bank rate charge kre aur apko jyada se jyada loan disburse kare.
Alternatives to Personal Loan
Ye bhi hamesha sahi nhi hota ki har personal reason ke liye ap personal loan ki application kisi bhi bank me apply karden aur wo application apki approve ho jaye apko bas ek kam kr na hai sbse phle apna reason sochna hai ki ap kis reason ke liye loan lena chah rahe hai . Agar suppose ap kisi banking company , me personal loan ko apply krte hai aur us banking company me car loan ek product hai aur ap personal loan ki application me reason car purchase krne ka dalte hai to kuch cases me bank apki application reject kr deta hai ye bolte hue to ap specific car loan lijie if you want to finance your car from the bank . Uske liye apko phir Car loan ke liye application dalni hoti hai .
Agar kisi personal karn se alag ap personal loan apne business ko run krne ke liye , child education ke liye , vehicle purchase ke liye , home improvement ke liye lete hai to ap personal loan na lekar in loan types me application dal skte hai :
- Education Loan
- Health Loan
- Car Loan
- Business Loan
- Loan against Property etc
Agar ap agar loan type me dalte hai to apka interest rate uske according vary karega jisme sometimes apko jyada charge hoga ya sometimes apko kam charge hoga .
Personal Loan Application Online
Personal loan ko ap online kisi bhi bank ki online website se apply kr skte hai jisme apko within 24 hours apke loan ke status ka pata chal jata hai. Agar ap personal loan online apply krna chahte hai to apko in documents ki jarurat hogi :
- Income tax returns for last 3 years
- Bank Statement for last 6 months
- Aadhaar and PAN Card
- Passport Size Photographs
- Past Loan Statements
- Form 16 or Business Income proofs etc
In sab documents , ko online ya offline jama karane par bank apki personal loan ki application koaage forward krdeta hai .
Things to Know !
Hope you find this post about personal loans , interesting and informative . If you have any queries related to application or repayment of personal loans or related to any aspect of personal , you can share your feedback comments down in the comment section or you can share your feedback to us on our contact us page , we shall respond you soon.