Personal Loans in Delhi

Get the lowest Personal loan interest rates starting from 10.25% per annum.

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Personal Loans in Delhi

Personal loans in Delhi are easily obtainable as a lot of financial institutions and NBFCs provide them at a decent interest rate starts from 10.75%. It is the best way for all Delhiites to get a quick financial fix if they do not have an asset to provide as collateral.
We all know that the people of Delhi are accustomed to the cosmopolitan lifestyle having expensive tastes and would not mind spending a large part of their income to purchase luxury items. Most of the money is spent on the comforts of life because of a constant desire to have a high standard of living.
Therefore, the biggest challenge faced by us is the inability to save money and stick to a budget, especially for a middle-class man. During times of liquidity crunch when the need for lump sum money arises, applying for a personal loan is the solution.
Here are the common reasons for applying for a personal loan by Delhi residents:
• A Personal loan is obtained for various purposes such as paying off medical bills, home renovation, wedding expenses, personal durable goods, travel expenses, or any other financial emergencies.
• Work well as a debt-consolidation loans. A Personal loan can help you save up some amount as the interest rates are lower than most forms of debt such as credit cards.

Special features:
• Loan Amount Eligibility: Rs 25000- Rs 25 Lakh
• Easy and simple loan application
• Flexible loan Tenure- 1- 5 years
• Low-interest rate loans with several attractive features
• Minimal documentation
• Easy EMIs

Eligibility criteria to apply for a Personal loan in Delhi
Nationality: Must be a citizen of India
Age – Minimum age is 21 years, and the maximum is 60 years
Credit Score: You should have a good credit score, 700 or above
Monthly Income requirement: Rs 20,000 per month
Work Experience

Salaried
Employed at the current company for at least 6/12 months

Self-Employed
• Business tenure of at least 3 years (continuous)
• ITR of last 3 years

You can also check your loan eligibility by visiting our website. Moreover, we have an efficient personal loan EMI calculator which will help you get an idea of how much loan amount you should borrow. Further, you can also benefit from our free credit report service before applying for a loan which gives an in-depth analysis of your credit history.

The documents required to apply for a Personal loan
• Standard KYC documentation such as Aadhar card, drivers’ license, PAN card, etc.
• At least 2 months of salary slips, for company employed applicant, or 2 months of income proof, for self-employed applicants
• At least 6 months of bank account statements - salary account for salaried individuals, or current account, for self-employed individuals.

How IndiaLends can help in getting a Personal loan in Delhi
IndiaLends is a one-stop solution for all your financial needs. We try to provide you with the best services that are hassle-free and quick in processing. For personal loans in Delhi, we provide you with a comparative analysis of what different banks are offering and help you in picking up the best.
The main benefits of availing of our services are:
• Convenience
• 100% transparency
• Real- time customer support
• We get you the lowest interest rate loan offers from multiple Banks and NBFCs
• Compare offers online
• We handle everything for you ranging from documentation to disbursal.
Our experienced financial team takes care of your financial needs. We evaluate your profile and match them against the eligibility criteria of various financial institutions. After the careful analysis of available offers, we pick the best.
Instead of visiting a bank, natives of Delhi can take advantage of the online services of FinTech companies like IndiaLends.
A quicker way is to click the “Apply now” button on the top right corner and fill in the online application and supply the soft copies of all the documents. Post all verification checks and loan approval, the loan amount will be disbursed to your account.
Our services are completely free, and you can get some of the best personal loan offers in Delhi.

Personal Loan: An Overview

A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use. It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.

*The figures provided in the table are indicative subject to change from time.

How It Works

1

Registration

Apply online in less than two minutes

 
2

Quick Verification

We will review your application and give you a decision within minutes

 
3

Loan Disbursal

Receive the loan amount within two days.

Find out your customized interest rate for a Personal Loan in Delhi
Basic Eligibility Criteria
1

Good Credit
Score

2

Above 21 years of
age

3

Salaried
professional

4

Resident of
India

5

Valid Bank
Account

6

PAN Card and Voter
ID Card/Driving License

7

Bank Statements for
the last three months

8

Salary Slip for last
three months

Rating & Reviews

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Frequently Ask Questions

Q. How much can I borrow and for how long?

A. You can get personal loans starting from Rs. 25,000 up to Rs.25 lakhs for 1 to 5 years.

Q. Can I repay my loan early?

A. Yes, you can pre-pay your loan as and when you want.

Q. How does Indialends assess my credit worthiness and how long does this take?

A. Each consumer wishing to borrow on the Indialends portal will need to go through a rigorous verification and credit assessment process. The assessment is based on information collected from various data sources like the application form, credit bureaus, bank statements, pay slips, verification reports, social media, etc. The above process is automated and happens within seconds. Hence, you can get an approval shortly after you submit your application.

Q. Why was my application rejected?

A. The reason your application was rejected was because your credit profile did not match the criteria stipulated in the Indialends policy at the time. However, Indialends might be able to approve your application at a later date, if by then your credit file has improved or there have been changes in the Indialends credit policy.

Q.What is my repayment schedule?

A. Repayment of the loan will happen monthly on an EMI (equated monthly installment) basis where the amount will be calculated based on amortizing balance. One or two of the installments might be different which will depend on the timing of the loan.

Q. What happens in the case of a missed payment or non-payment by a borrower?

A. If the monthly payment for a borrower is delayed for any reason, a penalty fee and penal interest might be charged to the borrower. The borrower’s credit file will also get impacted which will restrict him / her to get credit in the future. Legal action may also be taken against the borrower.

Q. What information is shared with the lenders browsing through the profiles?

A. Lenders will have the ability to view detailed profiles of the borrowers, information like financial information, employment information, etc. The personal information of the borrower remains protected as per our privacy policy.

Q. How do I alter my loan request?

A. Loan requests can only be cancelled prior to loan disbursal. In case you want to make any changes to your request please reach out to support@indialends.com. The support team will help you in making the modifications.

Q. How can I make monthly payments?

A. You can pay your EMIs using electronic transfer of funds, ECS.

Q. How will you disburse the loan amount?

A. Soon after the loan is approved, the funds will be transferred right into your bank account.