Delhi, the capital of India is an expensive metropolitan city where professionals might need financial assistance in order to meet the high costs of various emergencies. You can apply for a personal loan online through the websites of financial service providers. With online application, your loan application can get approved almost instantly. There are four steps involved in the online application process for a personal loan in Delhi. You don’t need to visit a bank branch in Delhi to apply for a personal loan as the entire application process can be completed online.
- Online Application- Access the online application form on the website of your chosen lender. Fill in your personal, employment and financial details in the online application form. You need to select the personal loan amount you need and the repayment tenure in your application.
- Document Submission- There are various documents that are required to avail a personal loan. Photo identity proof, income proof, salary slips, employment certificate and address proof are some of the mandatory documents that are needed in the application process. You need to submit these documents in the online process. Usually a representative of the lender contacts you regarding document submission.
- Verification- The lender verifies the submitted documents and conducts background checks on the personal and professional information declared by the applicant.
- Approval- If there are no discrepancies detected in the applicant’s documents and credit history , the personal loan gets approved and the approved loan interest rate and loan tenor is sent to you for acknowledgement.
- Loan Disbursal- In the final stage, the personal loan amount gets disbursed to your bank account.
For meeting the requirements of unexpected financial emergencies, you can take the help of financial service providers which offer a simple and flexible online application process and cater to multiple needs. The eligibility criteria for applying for a personal loan in Delhi is easy to adhere to.
Eligibility Criteria for Personal Loan in Delhi:
- You must be an Indian citizen.
- You need to be either a salaried professional or a self-employed individual/professional.
- You should be at least 22 years in age.
- Your monthly income needs to meet the criteria set by the bank.
- Your CIBIL score should ideally be above 750.
That’s all you need to know about applying for a personal loan in Delhi. Once you meet the eligibility criteria and apply online, reputed financial service providers are super quick in sanctioning your personal loan. However, you must always check out the personal loan emi calculator to plan your repayment accordingly. Also, make sure to read all loan related documents, be aware of all the fees, charges and interest rate before you apply for your loan.